14 Sept 20-CAIRO: The US Embassy in Libya said Libyan commander Khalifa Hifter agreed to reopen key oil fields and terminals no later than Saturday, a move that could advance talks between the country’s warring sides closer to a political settlement to the yearslong conflict. Powerful tribes in eastern Libya loyal to Hifter have kept…
14 Sept 20-Oil exploration in forests is set to become cheaper and easier as the Centre has simplified norms to allow mining companies to pay a fee for the land affected by each borehole and not for the total forest area leased out for exploration, according to minutes of the Union environment ministry’s Forest Advisory…
14 Sept 20-New Delhi: Billionaire Anil Agarwal-led Cairn India’s Rajasthan oil block licence extension is stuck in a dispute over cost and the firm is literally surviving on monthly extensions by the government, sources said. The government had in October 2018 agreed to extend by 10 years the contract for Barmer fields in Rajasthan after…
14 Sept 20-Kolkata: Major exploration and production (E&P) companies in the oil and gas sector of the country are increasing their exposure in digital technology to sustain operations in COVID-19 time, experts said on Friday. Adoption of the digital route has now become important for the sustainability of operations, maintenance and also in keeping liquidity,…
14 Sept. 20-Prime Minister Narendra Modi said Bihar’s administration has been exemplary in making sure that government schemes reach the common people.He said, “In the last 15 years Bihar has shown that if the right government is elected in a state, benefits of government’s schemes can reach its people.” PM Narendra Modi inaugurated the three…
14 Sept 20-The Union Environment Ministry has simplified the oil exploration rules to allow mining companies to pay fees for the land affected by each borehole and not for the total leased out forest area, thus making oil mining in forest cheaper and easier. The norms were revised at the ministry’s Forest Advisory Committee (FAC)…
14 Sept. 20-Domestic gas prices are set to fall significantly from October because of a slump in global prices, raising a question mark on the pricing formula as it challenges the operational viability of oil firms and hurts investment sentiment in the exploration and production sector. Gas producers have sought a review of the pricing…
NEW YORK – Oil prices were little changed on Friday, but posted their second straight weekly loss as stockpiles rise around the world and fuel demand struggles to rebound to pre-coronavirus levels. Both Brent and U.S. crude lost about 6% on the week after a series of signals that showed markets still have an abundance…
Oil prices fell further on Friday and were on track for a second weekly drop after the US stock markets tumbled and US stockpiles rose unexpectedly.Brent fell 28 cents, or 0.7 per cent, at $30.78 a barrel by 12:10 GMT, and US crude was down 17 cents, or 0.5 per cent, to $37.13 a barrel.…
Maputo: The US has set aside $1.5 billion for political risk insurance in the gas-rich northern Mozambique region ravaged by an Islamist insurgency for the past three years, its Maputo embassy said Thursday. The International Development Finance Corporation (DFC) has “agreed to provide up to $1.5 billion in political risk insurance to support the commercialization…
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