Owing to the fall in global gas prices due to higher production and coronavirus-induced low demand, experts feel that the Union government will cut the price of domestic gas by a sharp 17.7% to $1.97 per million British thermal units (mmBtu). The new price will be effective for six months starting October 1. If the…
Union Minister of Petroleum and Natural Gas and Minister of Steel Dharmendra Pradhan on Thursday discussed ‘Strategic Energy Partnership’ during video conferencing with Kenneth Juster, the US Ambassador to India, and invited the US companies to engage more intensely in developing the gas infrastructure in India. Informing about the same in series of tweets, the…
New Delhi: As much as 53 per cent of India’s oil imports and 41 per cent of gas imports now come from the Arab region which is vital for India’s energy security, according to Sanjay Bhattacharyya, Secretary in the Ministry of External Affairs, MEA, here. “The nature of the energy partnership has evolved from mere…
Gas for decentralized power has for long held a lot of promise but somewhat failed to take off. Increased focus on climate change as a topic and historically low gas prices have brought back focus on what’s considered a low hanging fruit towards decarbonizing the economy. For the government, it presents an opportunity to inch…
24 Sept. 2020-Crude oil prices reversed their decline today after the Energy Information Administration reported an oil inventory draw of 1.6 million barrels for the week to September 18. This compares with a draw of 4.4 million barrels for the previous week. The report came a day after the American Petroleum Institute propped prices up…
24 Sept. 2020-U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.Crude inventories fell by 1.6 million barrels in the week to Sept. 18 to 494.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel drop. Crude stocks at the Cushing, Oklahoma, delivery…
24 Sept. 2020-Natural gas has often been vilified as just another fossil fuel contributing to the climate crisis. While gas-fired power generation and the natural gas value chain do emit greenhouse gases, natural gas burns cleaner than other fossil fuels, most notably coal, and can play a major role in replacing coal-fired power generation, immediately…
24 Sept. 2020-Carbon capture and storage projects must play a greater role in fossil fuel emissions reductions from offshore oil platforms to onshore natural gas processing plants in order to meet net-zero climate goals as the calendar for so-called peak oil demand is moved up, according to industry reports released Sept. 22. Governments around the…
24 Sept. 2020-OPEC’s 60th birthday should have been reason for celebration, but its largest producer Saudi Arabia is increasingly putting its own interests before the cartel’s objectives and has put the very existence of OPEC at stake on a number of occasions Founded 60 years ago this month by Iran, Iraq, Kuwait, Saudi Arabia, and…
24 Sept. 2020-The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. Exploration is not dead. It is…
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