15 Sept. 20-TEHRAN- The National Iranian Oil Company (NIOC) ranked first among the world’s largest oil companies in terms of total oil and gas discovery in 2019, with the discovery of 4.973 billion barrels of equivalent hydrocarbon reserves, Shana reported on Monday. Seyed Saleh Hindi, the NIOC’s director of exploration, stated in a letter to…
15 Sept. 20-Baghjan: For more than 100 days, the fire raged, a tall blaze of angry orange that killed the fish in ponds and streams, destroyed homes and turned to ash the green farmlands around the Baghjan oil field in Assam’s Tinsukia district. The fire at an Oil India Ltd well that started with oil…
15 Sept 20-NEW DELHI/SINGAPORE: Indian Oil Corp will expand its petrochemicals capacity and integrate it with its textile business to help offset the impact of low refining margins, the chairman of India’s largest refiner said on Monday. “We see petrochemical integration as the way forward…Petrochemicals gives us that ability to de-risk from low cracks (refining…
15 Sept. 20-New Delhi: India’s crude oil import bill fell to a third in the first four months of the current fiscal after international oil rates nosedived on-demand evaporating due to the outbreak of the Coronavirus pandemic and ensuing lockdowns, Petroleum Minister Dharmendra Pradhan said on Monday. India spent $12.4 billion on importing 57.2 million…
15 Sept. 2020-New Delhi : The Petroleum and Natural Gas Minister Dharmendra Pradhan on Monday said that under the Pradhan Mantri Ujjwala Yojana (PMUY), the target of 8 crore new LPG connections has been achieved and Oil Marketing Companies (OMCs) issued 1306.87 lakh LPG refills to PMUY beneficiaries under Pradhan Mantri Garib Kalyan Package (PMGKP)…
15 Sept. 20-India’s exponential growth in energy demand in coming years will mean the country will still need to expand oil refining capacity, while embracing cleaner fuels like natural gas, hydrogen and renewables, Shrikant Madhav Vaidya, chairman of Indian Oil Corp, told the S&P Global Platts Asia Pacific Petroleum Virtual Conference Sept. 14. While the…
14 Sept 20-Saudi Arabia a major oil producer had recently reduced its official selling price on its Asian crude grades to China on the macro that the world’s second-largest economy has no place to store additional oil supplies, triggering the crude oil bears to breach below the $40 support price level in the case of…
14 Sept 20-US and UK futures’ prices were little changed on Friday, but both of the oil futures had been whacked away as much as 6 per cent this week and had reported their second straight weekly percentage decline in a row as crude oil stockpiles are rising all over the globe and gasoline demands…
14th Sept 20-It was evident to anyone with even half a brain that the last Saudi-instigated oil price war would end in abject failure for the Saudis, just as the previous 2014-2016 effort did and for the very same reasons. For Crown Prince Mohammed bin Salman (MbS), one of the masterminds behind the oil war…
14 Sept 20-President Donald Trump on Saturday offered a boost to the ethanol industry as he courts farmers and biofuel producers in Midwestern swing states before the November election.Trump has approved using existing filling station pumps to distribute higher-ethanol gasoline. “Subject only to State approval, our important Ethanol Industry will be allowed to use the…
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