17th August 2020:New Delhi: Petronet LNG Ltd’s proposed $2.5 billion investment plan in US LNG developer Tellurian’s upcoming Driftwood LNG terminal in Louisiana may be scaled down considering the energy company’s decision to cut first phase cost of the project by a third thereby also reducing production. Sources said that PLL, which has till December…
17th August 2020:State-run oil marketing company Bharat Petroleum Corp Ltd (BPCL) is planning to add 1,000 fuel stations in the current financial year 2020-21 even as it expects to be privatised by the end of the current fiscal. PSU oil marketing major BPCL expects that its privatisation procedure will take place by March 2021, Reuters…
17th August 2020:MUMBAI: Four companies operating in Mahul, including BPCL and HPCL, will have to pay Rs 286 crore over five years to improve air quality in the area, the National Green Tribunal ruled on Friday. Residents of Mahul and Ambapada villages had filed a plea in 2014 against the setting up of a unit…
17th August 2020:India is sending over 30 tonnes of technical equipment and material on board an IAF C-17 Globemaster Aircraft to Mauritius to contain the oil spillage along the Southeastern part of the island nation. Given the specialized nature of the equipment and a requirement of trained manpower to operate it, the 10-member Technical Response…
17th August 2020:New Delhi: Petronet LNG Ltd’s proposed $2.5 billion investment plan in US LNG developer Tellurian’s upcoming Driftwood LNG terminal in Louisiana may be scaled down considering the energy company’s decision to cut first phase cost of the project by a third thereby also reducing production. Sources said that PLL, which has till December…
Crude oil prices settled almost 2% lower at the last trading session of the week, dropping for the second time in five days amid growing fears that global energy demand could plummet to record lows. U.S. West Texas Intermediate futures closed lower, having shed 1.74% to trade at $41.22 per barrel. Brent, the world’s barometer…
Islamabad/New Delhi: Saudi Arabia has halted the provision of oil on loan for Pakistan after the Imran Khan government threatened to split the Organization of Islamic Countries (OIC) over Kashmir.Hit by a severe economic crisis, Pakistan had borrowed a $6.2 billion loan from Saudi Arabia in 2018. The loan package included a provision under which…
MEXICO CITY – Dirty fuel oil widely used to generate electricity in Mexico should be completely banned, Mexican scientist Mario Molina said, citing its high sulfur content as a danger to both human health and the earth’s atmosphere. The oil, a byproduct of the refining process, is especially prevalent in Mexico due to the inability…
It’s been a wild and bumpy ride for OPEC+ this year. The consortium, consisting of the traditional members of the Organization of the Petroleum Exporting Countries plus oil and gas superpower Russia, was largely responsible for the huge collapse in oil prices toward the end of April. After a huge drop in oil demand corresponding…
Drillers cut exploration in US oil fields to a 15-year low as billions of barrels from old discoveries became worthless and explorers abandoned growth plans. The number of active oil rigs in the US fell by four to 176, the lowest since 2005, according to Baker Hughes Co. data released Friday. Energy companies have been…
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