September 16, 2020 - Page 2 of 3

BPCL may buyout Oman Oil stake in Bina refinery before its sale

NATIONAL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 20-Sale-bound Bharat Petroleum Corporation Ltd (BPCL) may buy out the entire stake of OQ, the erstwhile Oman Oil Company (OOC), in their Madhya Pradesh joint venture, the Bharat Oman Refineries Ltd (BORL). Government sources said that BORL became a subsidiary of BPCL in March this year and the next step now is to…

Oil Prices Fall As Libya Reopens Ports

CRUDE OIL NEWSBy admin September 16, 2020 Leave a comment

15 Sept 20-Libyan strongman General Khalifa Haftar has pledged to reopen the country’s oil ports this weekend, the U.S. embassy in the North African country said in a statement on Saturday. “The Ambassador underscored U.S. confidence in the NOC and support for a financial model that would constitute a credible guarantee that oil and gas…

Oil mixed as storm threatens US gulf production

CRUDE OIL NEWSBy admin September 16, 2020 Leave a comment

15 Sept 2020-Oil prices were mixed on Monday with U.S. crude rising as a tropical storm in the Gulf of Mexico forced rigs to shut down, but the gains were kept in check by wider concerns about excess supply and falling demand for fuels. U.S. West Texas Intermediate (WTI) crude futures were up 9 cents,…

Trump Administration Shocks Oil Industry With Biofuel Waiver Decision

INTERNATIONAL NEWSBy admin September 16, 2020 Leave a comment

15 Sept 20-After shocking the oil industry with last week’s extension to a coastal drilling ban offshore Florida, Georgia, and a handful of other states, the Trump Administration said on Monday that is has rejected nearly the vast majority of retroactive biofuel waiver petitions that were pending review, according to a Reuters report. Biofuel waivers…

Iran says it supports OPEC as long as its interests are protected

INTERNATIONAL NEWSBy admin September 16, 2020 Leave a comment

15 Sept 20-Iran supports the Organization of the Petroleum Exporting Countries (OPEC) as long as the group protects Iranian interests alongside other members, Iran’s OPEC governor Amir Hossein Zamaninia said on Monday. Sixty years after its formation, OPEC’s founding members, Iran and Venezuela, have been sidelined by U.S. sanctions while its kingpin, Saudi Arabia, has…

Governments urged to invest more in green cities to beat coronavirus slump

INTERNATIONAL NEWSBy admin September 16, 2020 Leave a comment

15 Sept 20-TBILISI: From planting more trees to saving on energy use in old buildings, governments should look at greening their cities to create jobs and spur growth as they seek to revive economies hit hard by the coronavirus pandemic, researchers said on Monday. Home to more than half of the world’s population, cities have…

Iran ranks 1st in world oil, gas discovery in 2019

EXPLORATION NEWSBy admin September 16, 2020 Leave a comment

15 Sept. 20-TEHRAN- The National Iranian Oil Company (NIOC) ranked first among the world’s largest oil companies in terms of total oil and gas discovery in 2019, with the discovery of 4.973 billion barrels of equivalent hydrocarbon reserves, Shana reported on Monday. Seyed Saleh Hindi, the NIOC’s director of exploration, stated in a letter to…

Baghjan oil well blowout singes fields, fish – and livelihoods

EXPLORATION NEWSBy admin September 16, 2020 Leave a comment

15 Sept. 20-Baghjan: For more than 100 days, the fire raged, a tall blaze of angry orange that killed the fish in ponds and streams, destroyed homes and turned to ash the green farmlands around the Baghjan oil field in Assam’s Tinsukia district. The fire at an Oil India Ltd well that started with oil…

Indian Oil targets textiles in hunt for margins

NATIONAL NEWSBy admin September 16, 2020 Leave a comment

15 Sept 20-NEW DELHI/SINGAPORE: Indian Oil Corp will expand its petrochemicals capacity and integrate it with its textile business to help offset the impact of low refining margins, the chairman of India’s largest refiner said on Monday. “We see petrochemical integration as the way forward…Petrochemicals gives us that ability to de-risk from low cracks (refining…

India’s crude oil import bill fell to a third due to COVID-19: Petroleum Minister

NATIONAL NEWSBy admin September 16, 2020 Leave a comment

15 Sept. 20-New Delhi: India’s crude oil import bill fell to a third in the first four months of the current fiscal after international oil rates nosedived on-demand evaporating due to the outbreak of the Coronavirus pandemic and ensuing lockdowns, Petroleum Minister Dharmendra Pradhan said on Monday. India spent $12.4 billion on importing 57.2 million…

Daily Archives: September 16, 2020