The UAE has always been committed to OPEC, energy minister Suhail al-Mazrouei said Nov. 19, amid reports the country is wavering on continued membership in the producer alliance. “As a reliable and long-standing member of OPEC, we have always been open and transparent in all our decisions and strategies in support of OPEC,” Mazrouei…
Pan American Energy and YPF, two of the biggest oil and natural gas producers in Argentina, plan to step up gas drilling as a new incentives program boosts the profit potential in the business, executives said Nov. 18. “We are returning to drill for gas,” Santiago Tanoira, vice president of gas and energy at…
Union Petroleum Minister Dharmenda Pradhan Thursday said he will soon visit Ashoknagar in West Bengal, the site of oil and gas discovery and review the project. Oil and gas was discovered at Ashoknagar in North 24 Parganas district two years ago. Pradhan said he was briefed by ONGC that the site holds potential for…
Shri Pradhan said that under Mission Purvodaya, we are building an Integrated Steel Hub in eastern India which would add to the competitiveness of the steel sector and facilitate regional development with job creation. Image Credit: Twitter(@PrakashJavdekar) Union Minister of Petroleum & Natural Gas and Steel Shri Dharmendra Pradhan today said that ‘Aatmanirbhar Bharat’…
The disinvestment process of Bharat Petroleum Corporation Ltd has moved on to the second phase, with the government having received “multiple” expressions of interest for its 52.98% stake in the country’s second largest fuel retailer. We examine the state of the disinvestment process of BPCL, which is a key component of the government’s plans…
Pradhan was speaking at an online event where he laid the foundation stone for 50 new LNG retail outlets along the golden quadrilateral and other major national highways. Pradhan said that LNG is going to be the fuel of the future for transport, and in this regard, retro-fitting of the vehicles as well as…
Metal baron Anil Agarwal has upped the ante in oil sector with submission of expression of interest (EoI) for BPCL. Agarwal’s move comes while Reliance Industries Chairman Mukesh Ambani soft pedals the game in fossil fuel. Agarwal has a high chance of winning the race for BPCL since the government has received just three…
MUMBAI – Crude oil prices in India and abroad reversed early losses and rose today as investors were optimistic that the Organization of the Petroleum Exporting Countries and allies may extend the current output cuts beyond Dec 31. The dollar’s weakness against a basket of major currencies also supported prices. A weaker dollar makes…
Oil prices firmed on Wednesday on hopes OPEC and its allies will delay a planned increase in oil output and after Pfizer said its COVID-19 vaccine was more effective than previously reported.Brent crude rose 64 cents, or 1.5%, to $44.39 a barrel by 1444 GMT, while U.S. West Texas Intermediate crude gained 43 cents,…
SINGAPORE/BEIJING- China’s commercial oil stockpiling sector, which emerged as a key swing buyer of crude as prices plunged earlier this year, is setting plans to grow again in 2021, supporting a further boost in imports. Private tank farm operators, refiners and traders pumped an extra 310-600 million barrels of oil into storage in China…
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