January 20, 2021 - Page 2 of 16

19 JAN – Crude oil market remains in flux

CRUDE OIL NEWSBy admin January 20, 2021 Leave a comment

“Crude producers continue to grapple with huge uncertainty about where this goes from here,” Tim Gould, the International Energy Agency (IEA) head of energy supply outlooks and investment, told the press last week. The Organization of Petroleum Exporting Countries (OPEC) agrees. “Uncertainties remain high going forward with the main downside risks being issues…

19 JAN – Barkindo: Worst is Over for Oil Industry

INTERNATIONAL NEWSBy admin January 20, 2021 Leave a comment

The Secretary General, Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, has said that given the very bad experience of 2020, the worst part of the crisis in the global oil market has been put behind it by the oil and gas industry. Barkindo spoke while participating via video-conference at the 11th…

19 JAN – Abu Dhabi teams up with 2 sovereign funds to export hydrogen as fuel in future

INTERNATIONAL NEWSBy admin January 20, 2021 Leave a comment

Abu Dhabi National Oil Co. formed an alliance with Mubadala Investment Co. and ADQ to produce hydrogen from renewable energy, known as green hydrogen. Abu Dhabi’s government-run oil company is teaming up with two of its sovereign wealth funds to turn the petroleum-rich emirate into an exporter of blue and green hydrogen. Abu…

19 JAN – Oil companies, aid groups plan to press Biden to allow Venezuela fuel swaps

INTERNATIONAL NEWSBy admin January 20, 2021 Leave a comment

Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration since the last quarter of 2020 has barred companies from sending Venezuela diesel in exchange…

19 JAN – Offshore Alliance bemoans extension of British Petroleum’s exploration licences

EXPLORATION NEWSBy admin January 20, 2021 Leave a comment

The Council of Canadians and Offshore Alliance is calling for a moratorium on offshore drilling and exploration in the wake of the renewal of British Petroleum Canada exploration licences off Nova Scotia on Friday. “The offshore petroleum board is letting BP call the shots about our climate,” Robin Tress with the Council of…

19 JAN – Kuwait to expand gas facilities in Northern field

EXPLORATION NEWSBy admin January 20, 2021 Leave a comment

OPEC oil producer Kuwait intends to allocate an additional $200 million for a project to expand Jurassic gas facilities in its Northern region close to the border with Iraq, a local newspaper reported on Sunday. Kuwait, one of the world’s largest oil exporters, awarded a $377-million contract for the development of Jurassic gas…

19 JAN – Hazira gas plant fire due to faulty gasket: PNGRB report

NATIONAL NEWSBy admin January 20, 2021 Leave a comment

Use of an improper gasket procured from the local market has been identified as a probable cause of leak which led to the massive fire at ONGC’s Hazira gas plant in the early hours of September 24, 2020, according to a report by an enquiry committee set up by the Petroleum and Natural Gas…

19 JAN – Total spurs renewables drive with $2.5 bn stake in Adani Green

NATIONAL NEWSBy admin January 20, 2021 Leave a comment

Total is paying $2.5 billion (Rs 18,320 crore) for a share in India’s Adani Green Energy Limited (AGEL) and its solar power assets, in what the French company said was its biggest investment yet in renewables. As it furthers its strategic shift from fossil fuel, the deal will give Total a 20% stake…

19 JAN – Low production due to Covid-19 raising fuel prices: Dharmendra Pradhan

NATIONAL NEWSBy admin January 20, 2021 Leave a comment

Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Monday said fuel prices had gone up because of lower production in oil-producing nations due to the coronavirus pandemic. This lower production had caused an imbalance in demand and supply, the minister said. “Oil producing countries stopped production or reduced it during the…

18 JAN – Oil prices in need of further action, again

CRUDE OIL NEWSBy admin January 20, 2021 Leave a comment

Oil prices have come under strong pressure last week as the number of new COVID-19 infections rose dramatically following a significant increase in the crude prices in the past few months on the back of bullish expectations with the roll out of coronavirus vaccine across the world. Oil futures in New York tumbled…

Daily Archives: January 20, 2021