Washington: Strategic Energy Partnership has emerged as a cornerstone of expanding the US-India ties as the bilateral hydrocarbon trade has increased by 93 per cent in the last two years, a top official has said. India’s Ambassador to the US Taranjit Singh Sandhu, in an op-ed in The Houston Chronicle, wrote that numbers speak for…
Oil slipped to near $40 amid signals that coronavirus restrictions will slow the economic recovery and on signs of increased supply. Futures fell as much as 0.7% in New York, after losing 2.1% last week in the third drop this month. The oil market’s recovery is expected to be long and gradual, Russia’s Energy Minister…
The price of oil trades in a narrow range as the rebound from the September low ($36.13) appears to have stalled ahead of the month high ($43.43), and signs of a protracted recovery may drag on energy prices as the Organization of the Petroleum Exporting Countries (OPEC) appear to be moving to the sidelines following…
Jakarta (ANTARA) – State-owned oil and gas company PT Pertamina is delving into the possibility of Singapore keeping its fuel oil stock in Indonesia’s refinery.”We will purchase fuel oil from Singapore under a long-term contract, though we want the fuel oil stock to be kept in Indonesia,” Pertamina Logistics and Infrastructure Director Mulyono noted during…
At least 16 military and several civilians were killed on Sunday in the heaviest clashes between Armenia and Azerbaijan since 2016, reigniting concern about stability in the South Caucasus, a corridor for pipelines carrying oil and gas to world markets. The clashes between the two former Soviet republics, which fought a war in the 1990s,…
Oil producers could be set for another showdown before the end of the year, with heavyweights Saudi Arabia and Russia holding different views on how to approach the halting recovery in oil demand. Renewed restrictions on travel and social gatherings across Europe, along with the tapering of state support packages for companies, are having a…
NEW YORK: U.S. shale producer Devon Energy Corp is in talks to acquire rival WPX Energy Inc in an all-stock transaction that would create a combined company worth around $6 billion, people familiar with the matter said on Saturday. The deal, which would value Tulsa, Oklahoma-based WPX at a small premium to its current share…
WINNIPEG, Manitoba: Canada will spend C$320 million ($238.56 million) to support its offshore oil industry, which has struggled as coronavirus pandemic travel restrictions reduced demand, Natural Resources Minister Seamus O’Regan said on Friday. O’Regan said in St. John’s, Newfoundland and Labrador, that the funds are intended to support jobs, and could be used for maintenance,…
AURANGABAD : A top sugar federation in Maharashtra is encouraging factories to cut down on production of the sweetener in view of its surplus stock and instead focus on ethanol production.This will also help sugar factories in overcoming their losses, Maharashtra State Co-operative Sugar Factories Federation Chairman Jayprakash Dandegaonkar told PTI. The country produces about…
Union cabinet minister Dharmendra Pradhan on Sunday recommended a proposal under which identified tourist sites or iconic spots will be turned into green zones where vehicles using only eco-friendly fuel will be allowed to ply. He said the proposed project will be the joint effort of the ministry of tourism and the ministry of petroleum…
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