Taiwan to cut gasoline exports by half on slow demand recovery

SINGAPORE: Taiwan’s gasoline exports this year are expected to fall by 50 per cent versus 2019 as its two refiners scale back supplies to combat slow demand, a move that could help keep excess supplies down, industry sources said. Taiwan is the fourth-largest gasoline exporter after China, India and South Korea, and a reduction in…

Russia says its time for a Gas OPEC

Russia is eyeing the possibility of launching a ‘Gas OPEC’, Vedomosti reports, noting that Russian Deputy Minister of Energy Anatoly Yankovsky mentioned this prospect in early June, while Minister of Energy Alexander Novak stated last week that the creation of a coordinating body that would regulate the volume of gas sales and prices “has been…

Brazil’s Petrobras starts decommissioning Campos Basin platforms

SAO PAULO, Brazilian oil major Petroleo Brasileiro, known as Petrobras, said on Tuesday it has started to decommission its platform P-12 on the Campos basin after receiving permission from the Navy and environment and oil agencies. The company also said it would decommission platforms P-07 and P-15 on the Campos Basin by this year, according…

Sebi considers allowing futures trading in petrol, diesel

Markets regulator Sebi is looking at permitting futures trading in petrol and diesel, an official said emphasising that there has been no disruption in commodities derivatives trading during the Covid-19 crisis. The Securities and Exchange Board of India (Sebi) is also looking at re-allowing futures trade in tur and urad, which were banned in 2007…

BP to invest $70 million in India’s green energy focussed GGEF Fund

Mumbai: UK oil major BP, on Tuesday, said it will invest into the Green Growth Equity Fund (GGEF) in India. The fund, established in 2018, is focused on identifying, investing and supporting growth in zero carbon and low carbon energy solutions in the country. With a commitment of $70 million, BP after its investment later…