September 29, 2020 - Page 3 of 5

BPCL pays for defaulting Videocon in Brazil oil block

NATIONAL NEWSBy admin September 29, 2020 Leave a comment

NEW DELHI: State-owned Bharat Petroleum Corp Ltd (BPCL NSE -0.40 %) has been forced to pay for its defaulting partner Videocon NSE -4.35 % Industries Ltd after it had relied on a rarely used model to acquire stake in five oil blocks in Brazil, sources said. In September 2008, BPCL and Videocon Industries had formed…

H-CNG: Modi Govt notifies norms for alternative fuels

NATIONAL NEWSBy admin September 29, 2020 Leave a comment

The Road Transport and Highways Ministry has notified regulations for various alternative fuels to further promote sustainable transportation, Union Minister Nitin Gadkari said on Sunday.It is a step toward an alternative clean fuel for transportation, said Gadkari. The Road Transport and Highways Ministry has notified regulations for various alternative fuels to further promote sustainable transportation,…

Oil prices are falling, ending the week in the red

CRUDE OIL NEWSBy admin September 29, 2020 Leave a comment

Oil prices continue to decline and end the week in the red amid fears of lower demand due to the return of restrictive measures in a number of countries, including France and the UK, as well as signals of a possible increase in supply. The cost of November futures for Brent oil on the London…

Oil Falls On Mounting COVID-19 Cases, Supply Concerns

CRUDE OIL NEWSBy admin September 29, 2020 Leave a comment

NEW YORK: Oil edged lower on Friday, falling more than 2% on the week as COVID-19 cases surged globally and oil supply is set to rise in coming weeks.Brent crude futures settled at $41.92 a barrel, down 2 cents, while U.S. West Texas Intermediate (WTI) crude futures lost 6 cents to $40.25 a barrel. Brent…

Russia Remains China’s Top Oil Supplier

INTERNATIONAL NEWSBy admin September 29, 2020 Leave a comment

Russia was the biggest exporter of crude oil to China last month, for the second month in a row, Reuters reported, citing Chinese customs data. Saudi Arabia came second, but its exports to the world’s top importer fell by 300 percent in August. Russia shipped 1.37 million bpd to China last month, down both on…

China on course for record LNG imports as industries recover

INTERNATIONAL NEWSBy admin September 29, 2020 Leave a comment

SINGAPORE/BEIJING: China’s imports of liquefied natural gas will likely grow 10 per cent to new highs this year as companies scoop up cheap supplies to cover increasing industrial use and robust residential demand. With its total natural gas use likely expanding at 4-6 per cent this year, China is the only major bright spot on…

China’s August low-sulphur marine fuel exports mark 2020 high

INTERNATIONAL NEWSBy admin September 29, 2020 Leave a comment

SINGAPORE: China’s exports of clean marine fuel in August hit a high for the year, customs data showed on Friday, along with total exports of goods rising the most in nearly one and half years as more economies reopened from lockdown. Exports of very low-sulphur fuel oil (VLSFO), with a maximum sulphur content of 0.5%…

U.S. drillers add rigs for second week, still down for seventh quarter -Baker Hughes

EXPLORATION NEWSBy admin September 29, 2020 Leave a comment

U.S. energy firms this week added oil and natural gas rigs for a second week in a row as some drillers return to the wellpad now that crude prices have held gains made since recovering from coronavirus-linked lows in the spring. The oil and gas rig count, an early indicator of future output, rose six…

Russia plans to kick-start unfinished oil wells programme this year: RIA

EXPLORATION NEWSBy admin September 29, 2020 Leave a comment

MOSCOW: Russia plans to launch a programme to part build oil wells this year so it can quickly ramp up production when the global deal on output curbs expires in 2022, RIA news agency quoted senior officials as saying on Thursday. To ensure Russia does not lose market share when the production cut agreement ends,…

Draft regulation for network tariff determination is a good beginning, but challenges for open access in CGD will still remain: ICRA

NATIONAL NEWSBy admin September 29, 2020 Leave a comment

On September 23, 2020, the Petroleum & Natural Gas Regulatory Board (PNGRB) has released a draft regulation for determination of transportation rate for City Gas Distribution (CGD) companies, which came into being before the regulator PNGRB was set up. Earlier, in Jun 2019, the PNGRB had floated a concept paper mentioning two options for determining…

Daily Archives: September 29, 2020