September 22, 2020 - Page 4 of 6

Despite crude on rebound, sharp cuts in fuel prices in India

NATIONAL NEWSBy admin September 22, 2020 Leave a comment

New Delhi: Petrol and prices in the country have fallen sharply again even though global oil prices rebounded and rose over $43 a barrel marking its fifth consecutive day of rise. On Friday, the pump prices of petrol and diesel fell by 26 and 35 paisa per litre, respectively in the national capital making it…

Centre set to sanction two petro-chemical complexes to AP

NATIONAL NEWSBy admin September 22, 2020 Leave a comment

Amaravati: The state government is planning a comprehensive survey to provide required infrastructure to industries in the state.Industries minister Mekapati Gautham Reddy said the survey will identify the shortcomings in the management of the industries and suggest the remedies. Speaking to reporters at APIIC office on Thursday, Mekapati said that Union commerce minister Piyush Goyal…

India-US strategic energy partnership takes deep roots: Amb Sandhu

NATIONAL NEWSBy admin September 22, 2020 Leave a comment

Washington: The strategic energy partnership between India and America has taken deep roots in a short span of time, India’s top diplomat to the US has said, asserting that this cooperation can energise the economic recovery of both the countries. The US remains a critical partner for India in meeting the development aspirations of 1.3…

Middle East crude benchmarks Oman and Dubai were mixed on Thursday

CRUDE OIL NEWSBy admin September 22, 2020 Leave a comment

SINGAPORE- Middle East crude benchmarks Oman and Dubai were mixed on Thursday after rising for two sessions, as traders awaited the outcome of an OPEC+ producers meeting to discuss compliance with their agreed output cuts and demand trends later in the day. An OPEC+ technical panel warned that a rise in coronavirus cases in some…

Oil eases as US production returns after storm

CRUDE OIL NEWSBy admin September 22, 2020 Leave a comment

TOKYO: Oil prices drifted lower on Friday, pausing after three days of gains, as producers prepared to resume operations in the Gulf of Mexico and data showed Saudi Arabian exports rose from record lows. Brent crude was down 6 cents at $43.24 a barrel by 0112 GMT, while US oil futures dropped 6 cents to…

Another OPEC Giant Is Sending Crude Oil Prices Lower

INTERNATIONAL NEWSBy admin September 22, 2020 Leave a comment

Crude oil prices are falling again, on word of OPEC member Libya’s plan to reopen its oil ports as soon as this coming weekend. As of this writing late on Monday afternoon, Texas Intermediate (WTI) and Brent crude futures are lower, with WTI October deliveries down to $37.26 per barrel, while Brent November deliveries are…

Crude oil industry is starting to hear echoes of coal’s demise: Russell

INTERNATIONAL NEWSBy admin September 22, 2020 Leave a comment

LAUNCESTON: If 2020 had been anything close to a normal year, the oil and gas industry would have just wrapped up its annual gathering in Singapore, most likely reassured of its ongoing essential role in humanity’s future.But this is far from a normal year, and the Asia Pacific Petroleum Conference (APPEC) was a virtual event…

OPEC+ presses for compliance with oil cuts, Saudi says it’s no ‘act of charity’

INTERNATIONAL NEWSBy admin September 22, 2020 Leave a comment

OPEC and its allies, led by Russia, pressed for better compliance with oil output cuts on Thursday against the backdrop of falling crude prices as uncertain reigns over the global economic outlook. The group, known as OPEC+, warned that rising COVID-19 cases in some countries could curb energy demand despite initial indications of a decline…

Africa Energy flags another S Africa offshore oil find

EXPLORATION NEWSBy admin September 22, 2020 Leave a comment

A prospect being drilled offshore South Africa is likely to contain more oil than an earlier discovery in the same region, according to Canadian firm Africa Energy, which is part of the operating consortium. Drilling began at the Luiperd well in block 11B/12B on 28 August. It is near Brulpadda, where consortium leader Total made…

Decade long payment default finally pushes ONGC out of Sudanese oilfield

EXPLORATION NEWSBy admin September 22, 2020 Leave a comment

New Delhi: After facing years of payment default, the country’s largest oil and gas explorer Oil and Natural Gas Corporation has finally exited from Sudanese oilfields, relieving itself of yet another toxic overseas asset. Company sources said that all the three overseas investors in the Sudanese oilfield including ONGC Videsh Ltd (OVL), the overseas investment…

Daily Archives: September 22, 2020