The record oil production cuts that OPEC+ initiated in response to the demand and oil price collapse have helped the oil market to stabilize in recent months. Yet, oil prices have been stuck in the low $40s since the end of the second quarter. While this is a huge improvement—double that of the lows seen…
China’s next five-year plan beginning in 2021 will call for increases to its mammoth state reserves of crude, strategic metals and farm goods, said officials familiar with the discussions. Beijing is keen to heed the lessons of the coronavirus crisis and deteriorating relations with the U.S. and its allies, according to the officials, who participated…
DUBAI/BAGHDAD/LONDON: A debate within Iraq over whether it should ask to be exempt from OPEC+ oil supply cuts has resurfaced as low prices squeeze its finances, challenging a government struggling to tackle the destruction of years of war and rampant corruption. OPEC’s second-biggest producer, Iraq has failed in the past to fully comply with OPEC+…
New Delhi: India will soon launch a bid round to give out licences for retailing gas in cities to help extend the coverage of environment-friendly fuel to about 500 cities, Oil Minister Dharmendra Pradhan said on Thursday. During 2018 and 2019, sector regulator PNGRB gave out licences to retail CNG to automobiles and piped cooking…
An Oil India Limited engineer, working at the Baghjan natural gas well site which has been on fire since June 9, died on Wednesday. Officials suspect that he died due to electrocution. The deceased engineer was identified as Arnab Kishore Bordoloi, 25. “Bordoloi, who was working with some equipment at the well site, suddenly fell…
New Delhi: India will soon launch a bid round to give out licences for retailing gas in cities to help extend the coverage of environment-friendly fuel to about 500 cities, Oil Minister Dharmendra Pradhan said on Thursday. During 2018 and 2019, sector regulator PNGRB gave out licences to retail CNG to automobiles and piped cooking…
State-run Bharat Petroleum Corporation Limited (BPCL) clarified about a buzz which claimed that workers held 48 hours strike at Kochi refinery. On Thursday, BPCL stock was among the lead gainer on stock exchanges. BPCL stock has surged by over 4% with an intraday high of Rs422.85 per piece in early trade. Clarification was sought from…
Union Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan on Thursday dedicated 56 CNG stations to the nation. These CNG stations are in 13 states and one UT-Chandigarh, Bihar, Gujarat, Haryana, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, West Bengal, and Andhra Pradesh, Ministry of Petroleum & Natural Gas in…
Fuel demand had slumped by a record 48.6 per cent in April to 9.4 million tonnes as the government imposed a nationwide lockdown in an attempt to curb the spread of coronavirus. The decline in August was the sixth consecutive year-on-year slide. India’s fuel demand in August posted its biggest decline since April as local…
While inaugurating 56 CNG stations today, Union Minister Dharmendra Pradhan said India is moving towards becoming a gas-based economy. The newly commissioned CNG stations are spread across Andhra Pradesh, Bihar, Chandigarh (UT), Gujarat, Haryana, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand and West Bengal. They belong to different public and private city…
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