Iraq expects OPEC+ will allow it to increase its oil exports beginning next year, Reuters reported today, citing the Iraqi state new agency INA, which was quoting the country’s oil minister without any further details. Earlier this month, there was another report from INA that said Iraq was seeking an exemption from the OPEC production…
New Delhi: Oil & Gas drilling company Weatherford International plc announced it has signed a Memorandum of Understanding (MoU) with Safe Influx, that provides automated well control technology, to boost well integrity in the construction phase of projects. The pact aims at integrating Managed Pressure Drilling (MPD) solutions with Automated Well Control technology. The joint…
NEW DELHI: No company has expressed interest for a hydrocarbon exploration permit in the latest licensing rounds in the country.The sixth and seventh licensing rounds, which ran between December and July, attracted no explorer as the pandemic clouded prospects for the oil sector, restricted mobility, and kept oil company executives busy with their operational challenges.…
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…
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