LONDON: When OPEC, Russia and their allies agreed in April to slash oil production, little did they expect that their initiative to prop up collapsing prices would be helped by a swift drop in US output. Now that crude has rallied on the back of those cuts from below $20 a barrel to $40 or…
The Trump administration has shelved all but one of the oil and gas lease sales it had scheduled for this month as the coronavirus pandemic has caused energy prices to crash and left U.S. drillers in crisis. According to a government website on Wednesday, sales in Utah and Colorado have been officially postponed, adding to…
GUWAHATI: PSU major OilNSE 2.81 % India on Wednesday said gas is uncontrollably flowing even after seven days of a well blowout at Baghjan in Tinsukia district and it has spread to a larger area, forcing the company and authorities to evacuate more people to camps. The opposition Congress urged the Petroleum and Natural Gas…
New Delhi: The government does not regard the recent plunge in oil and gas prices as a normal market-driven fluctuation that should determine the economics of domestic producers, petroleum minister Dharmendra Pradhan said, responding to mounting concerns about viability of Indian fields as their prices are linked to global benchmarks. “Normally prices respond to demand-supply…
NEW DELHI: Anybody can start liquefied natural gas (LNG) dispensing station in the country and wouldn’t require a city gas distribution license for it, the regulator has said in a big step towards aiding India’s ambition of shifting some of its long-haul transport to natural gas. This helps resolve long standing regulatory confusion over LNG…
New Delhi: State-owned GAIL and Energy Efficiency Services Ltd (EESL) signed a memorandum of understanding on Wednesday for cooperation in development of trigeneration projects in India. Trigeneration or Combined Cooling, Heat and Power (CCHP) typically involves natural gas-fired generators to produce electricity. The waste heat from flue gas is recovered to produce hot water or…
Oil regulator PNGRB has said it has no powers to regulate setting up of LNG dispensing stations and any entity can set up such fuel outlets anywhere in the country. Giving its ruling on requests made to it for setting up of standalone liquefied natural gas (LNG) stations, the PNGRB said the Act that governs…
LONDON: Oil prices rose on Tuesday on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week. Benchmark Brent crude rose 2.3 per cent, or 88 cents, to $39.20 a barrel as of 0840 GMT. US West Texas Intermediate (WTI)…
NEW YORK: Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and US states begin to restart after coronavirus lockdowns. Brent crude rose 2.7 per cent, or $1.04, to $39.36…
NEW YORK: The amount of natural gas flowing on pipelines to US liquefied natural gas (LNG) export plants plunged to a 13-month low in June, a signal of weak worldwide demand due to government lockdowns to stop the spread of the new coronavirus. Worldwide LNG prices collapsed to record lows in Europe and Asia in…
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