“Is Exploring For Oil Still Profitable?” Oilprice asked back in August. As the novel coronavirus has swept the world, stalling whole industries, tanking oil demand and prices, leaving legions of people jobless, and upending the natural order of things, everyone who has anything to do with the energy sector has found themselves asking these…
ABU DHABI, Abu Dhabi National Oil Company (Adnoc), the UAE’s biggest energy producer — has merged its downstream business with its trading and marketing operations to create the Downstream Industry, Marketing & Trading Directorate. The new unit “will be a critical enabler of the company’s goal to responsibly deliver the energy and energy…
KUALA LUMPUR: Malaysia is taking legal action at the global trade watchdog against the European Union and member states France and Lithuania for restricting palm oil-based biofuels, the government said. The world’s second largest palm oil producer, which has called a EU renewable-energy directive “discriminatory action,” is seeking consultations under the World Trade…
ISLAMABAD: Directorate General of Petroleum Concessions has publicly opened bids for 20 onshore blocks for grant of Petroleum Exploration Rights through open bidding at Petroleum House, Islamabad. According to a press release of Ministry of Energy, the minimum investment to be carried out by the Exploration and Production companies in these blocks for…
TEHRAN – Steady production from Iran’s giant South Pars gas field, which the country shares with Qatar in the Persian Gulf, has ensured uninterrupted and sustainable supply of natural gas across the country during the cold season. The mentioned gas field is expanded over an area of 9,700 square kilometers, 3,700 square kilometers…
Washington: A top India-centric American business advocacy group has suggested Finance Minister Nirmala Sitharaman to lower tariff in the Union Budget if the country wants to compete with China-backed mega free trade agreement Regional Comprehensive Economic Partnership (RCEP). China and 14 other countries in November last year established the world’s largest trading bloc…
New Delhi: State-run Energy Efficiency Services Ltd (EESL) has inked a pact with Petroleum Conservation Research Association (PCRA) for implementation of Energy Efficient PNG Cook Stove (EEPS) programme, across India. The EESL, a joint venture of PSUs under the Ministry of Power, Government of India, has signed a Memorandum of Understanding (MoU) with PCRA,…
State run oil and gas explorer ONGC’s plan to merge its refining subsidiary Mangalore Refinery and Petrochemicals Ltd (MRPL) with Hindustan Petroleum Corp Ltd (HPCL) has got delayed. The process is now expected to be complete by FY24. The merger was in the works with the aim of aligning ONGC’s upstream and downstream operations…
Mumbai: Oil prices fell on Friday as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and US plans for a large stimulus package. Brent was down 83 cents, or 1.5%, at $55.59 by 1316 GMT, after gaining…
The Trump administration took another swipe at China and its biggest firms on Thursday, imposing sanctions on officials and companies for alleged misdeeds in the South China Sea and imposing an investment ban on nine more firms. The moves come just days before Trump steps down and President-elect Joe Biden takes office. Executives…
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