01 Sept. 2020-Bhubaneswar: The Gopalpur Port Limited (GPL) in Odisha has planned to set up a liquefied natural gas (LNG) terminal and an investment of Rs 2,000 crore for setting up fertilizer and petrochemical industries, an official said on Monday. Similarly, an edible oil refinery is also on cards, the official said.Recently, GPL Managing Director…
19 Aug 2020-New Delhi: Petronet LNG Ltd, India’s biggest gas importer, on Tuesday said it is looking to secure term LNG supplies at cheaper prices, than exploring investments in liquefaction projects such as one by US energy upstart Tellurian Inc. “We are exploring the market, but one thing is sure that investments as such are…
19 Aug 2020-New Delhi: For a glimpse into the impact of rolling lockdowns and sputtering factory sales on Asia’s second-biggest oil importer, look no further than India’s fuel purchasing patterns. The sale of diesel — the country’s most-used fuel and a proxy for its economic health — slumped 20% in the first half of August…
19 Aug 2020-CHENNAI: Bharat Petroleum Corporation Ltd would shortly be commissioning its new state-of-the-art bottling plant in the state aimed to serve the southern districts, a company official said on Tuesday. According to a company official, BPCL has a customer base of 55.20 lakh families in Tamil Nadu and 86,000 in Puducherry. The company has…
19 Aug 2020-New Delhi: The Covid-19 demand destruction has begun to hit Indian refiners with almost all entities further reducing crude processing or going in for unexpected maintenance shutdowns to remain afloat and protect margins. Privatisation-bound Bharat Petroleum Corporation Ltd (BPCL) operated three of its refineries at about 70 per cent capacity in July and…
18 August 2020:Traders remain concerned about the increasing number of COVID-19 cases in many parts of the world including the United States, India and Brazil. The rise in infections continues to have a negative impact on global oil demand in August. Last week, India had reported its fifth consecutive y/y decline in oil consumption with…
18 August 2020:Oil prices edged lower on Friday on worries that demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories. This week, two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries, trimmed their 2020 oil…
18 August 2020:NEW YORK- Oil prices rose on Monday, as OPEC+ producers almost fully complied in July with their global production cut accord, and after U.S. officials said China is in compliance with the first phase of the two nations’ trade deal. Brent crude rose 21 cents, or 0.5%, to $45.01 a barrel by 12:43…
18 August 2020:The International Energy Agency this week revised down its gasoline and jet fuel demand forecast for the rest of the year. In seemingly unrelated news, Philips 66 said that it is turning a San Francisco refinery into a biofuels plant. In separate news, Shell said it would permanently shutter a refinery in the…
18 August 2020:MELBOURNE: Japan’s Mitsui & Co won an exemption from the Western Australian government on Monday to export gas from a new onshore field, in a push to jump start the project and help the state’s recovery from the coronavirus pandemic. Western Australia said it would ban all exports of onshore gas in a…
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