November 5, 2020 - Page 3 of 4

02 NOV – U.S. drillers add most oil and gas rigs in a month since May 2018 -Baker Hughes

EXPLORATION NEWSBy admin November 5, 2020 Leave a comment

The U.S. oil and natural gas rig count rose in October for the third straight month and drillers added the most rigs in a month since May 2018 as some returned to the well pad after crude prices steadied. The oil and gas rig count, an early indicator of future output, rose…

02 NOV – India Bound to Make Waves In the Tanker Market

NATIONAL NEWSBy admin November 5, 2020 Leave a comment

India is gearing up to become a major player in seaborne oil demand, offering a valuable boost in the tanker market. In its latest weekly report, shipbroker Gibson said that “like most nations, Indian oil demand has come under considerable pressure in 2020 as covid-19 derailed the country’s continual demand growth. Nevertheless, the…

02 NOV – India may call bids for setting up green hydrogen plants

NATIONAL NEWSBy admin November 5, 2020 Leave a comment

NEW DELHI: State-run Solar Energy Corporation of India (SECI) may call bids for setting up green hydrogen plants, said two people aware of the development. Green hydrogen is a next generation fuel, with gas produced through electrolysis from water by using electricity generated through non-greenhouse gas (GHG) producing energy sources such as…

02 NOV – LPG cylinder new rules: Need to share OTP for home delivery from today

NATIONAL NEWSBy admin November 5, 2020 Leave a comment

If you are Liquefied Petroleum Gas (LPG) gas cylinder subscriber? Have you been getting your LPG cylinder home-delivered? Please take note of this new rule that implies from today. From today (November 1), customers will be required to furnish a one-time password (OTP) to get their LPG Cylinders home delivered. Oil companies will…

02 NOV – India could cut oil import bill further as Saudi looks at crude discounts

NATIONAL NEWSBy admin November 5, 2020 Leave a comment

India’s oil import bill may fall further in the remaining period of the current fiscal with Saudi Arabia looking at giving discount in crude it sells to Asian Buyers. Analysts tracking the development said that the benchmark Dubai prices of oil have fallen and so have the gross refining margins. If this holds,…

30 OCT – GLOBAL MARKETS-Oil falls on lockdown angst, stocks post small bounce

CRUDE OIL NEWSBy admin November 5, 2020 Leave a comment

Crude oil tumbled again on Thursday as lockdowns in Europe clouded the demand outlook while stocks were in and out of losses globally, hinging on support from Wall Street. French President Emmanuel Macron and German Chancellor Angela Merkel have ordered their countries back into coronavirus lockdowns, while cases are rising in 47 U.S. states…

30 OCT – Oil extends losses with 4% slump on renewed lockdowns

CRUDE OIL NEWSBy admin November 5, 2020 Leave a comment

NEW YORK – Oil prices tumbled by more than 4% on Thursday, dropping to a five-month low and extending the previous day’s sharp decline on the impact renewed coronavirus lockdowns could have on oil demand. December Brent crude futures were down $1.66, or 4.2%, at $37.45 by 12:34 EST (1634 GMT), after…

30 OCT – Asian buyers boost physical oil as pandemic punishes futures

INTERNATIONAL NEWSBy admin November 5, 2020 Leave a comment

MOSCOW/LONDON: Robust demand from China and India has bolstered physical crude oil prices from around the world, traders said, in contrast to the futures market that is wrestling with over-supply and demand uncertainty wrought by COVID-19. Global benchmark Brent futures are trading around $40 a barrel, having recovered from more than two-decade lows…

30 OCT – China’s Unipec to send supertanker loaded with diesel to the West amid surplus

INTERNATIONAL NEWSBy admin November 5, 2020 Leave a comment

SINGAPPOR: China’s Unipec, the trading arm of state-owned Sinopec, has loaded a very large crude carrier (VLCC) with diesel and is set to ship it to the West next month, two industry sources said on Thursday. The VLCC is the Chinese refiner’s second to be shipped to the West this year, they said,…

30 OCT – OPEC Members Rebel Over Production Cut Extension

INTERNATIONAL NEWSBy admin November 5, 2020 Leave a comment

While the oil market speculates on whether or not OPEC+ will ease its production cuts in January amid sluggish demand, rumors emerged on Thursday that the three biggest OPEC producers behind Saudi Arabia may not be on board with extending the current cuts into next year. Iraq, the United Arab Emirates (UAE),…

Daily Archives: November 5, 2020