New Delhi: Niti Aayog CEO Amitabh Kant on Wednesday said clean energy is critical for India and it is important for the country to get into cutting-edge technology. Addressing a virtual book launch event organised by the Observer Research Foundation, Kant said India in the long run must become a manufacturer of solar…
Kolkata, Dec 10: IndianOil and LanzaTech (USA) jointly hosted a virtual global media meet on the theme “Circular Economy Vision ? CO2 Valorization” to share details about the collaboration of two companies for a CO2 project and related vision of the future, where carbon turns from liability to a sustainable opportunity for all.…
State run refiner Indian Oil Corporation (IOC) on Thursday said crude oil throughput at its refineries rose to 100 per cent in November, with demand for petroleum products now close to pre-Covid levels. “Consumption of all petroleum products has almost reached pre-Covid levels,” IOC said in its statement. It added, IOC’s refining utilisation…
Data from the US Energy Information Administration (EIA) released on Wednesday showed crude oil inventories for the week ending November 13 at 489.5 million barrels, a drop from levels three weeks ago at 492.4 million barrels, but still higher than what was forecast by analysts. Investors need to exercise caution also because stocks in…
U.S. petroleum inventories are falling towards more normal levels as the glut earlier this year caused by volume warfare among OPEC+ members and the first wave of epidemic-driven lockdowns is gradually absorbed. Falling inventories are likely to herald a tighter production-consumption balance and a cyclical upswing in both spot prices and calendar spreads next…
Iraq plans to invite international companies to compete in order to build a 300,000 b/d refinery south of the country, the oil minister said Nov. 18, as OPEC’s second largest oil producer seeks to wean itself off crude products imports. The refinery, to be built in Fao in the Basra Governorate, will be offered…
Owning stock in a Russian company can be more than a risky investment. The Russian government marches to the beat of Vladimir Putin and the oligarchs that control the vast natural resources in the nation. Rosneft is one of the leading Russian oil companies run by Igor Sechin, one of President Putin’s closest allies.…
Small, independent oil producers are seeing the potential for growth over the next decade as major energy companies look to invest in renewables. As big companies are being forced to introduce greener policies, independent producers could profit from this change. Paul Blakeley, chief executive of Jadestone Energy told the Financial Times on Monday., “It…
Brazil’s National Energy Policy Council said Nov. 18 that imported raw materials can be used in the production of biodiesel. Previously, all biofuel sold at National Petroleum Agency auctions had to be manufactured from oils and fats of Brazilian origin. On Nov. 12, the National Petroleum Agency (ANP) published the notice for the 77th…
China, the global oil market’s lifeline this year, has stepped up purchases from exporters like Russia, the United States and Angola in recent weeks, while buyers elsewhere pare orders as coronavirus infections surge and fresh lockdowns are put in place. China, the world’s largest importer of crude, is the only major buyer expected to…
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