24 Sept. 2020-U.S. crude stocks, gasoline and distillate inventories fell last week, the Energy Information Administration said on Wednesday.Crude inventories fell by 1.6 million barrels in the week to Sept. 18 to 494.4 million barrels, compared with analysts’ expectations in a Reuters poll for a 2.3 million-barrel drop. Crude stocks at the Cushing, Oklahoma, delivery…
24 Sept. 2020-Natural gas has often been vilified as just another fossil fuel contributing to the climate crisis. While gas-fired power generation and the natural gas value chain do emit greenhouse gases, natural gas burns cleaner than other fossil fuels, most notably coal, and can play a major role in replacing coal-fired power generation, immediately…
24 Sept. 2020-Carbon capture and storage projects must play a greater role in fossil fuel emissions reductions from offshore oil platforms to onshore natural gas processing plants in order to meet net-zero climate goals as the calendar for so-called peak oil demand is moved up, according to industry reports released Sept. 22. Governments around the…
24 Sept. 2020-OPEC’s 60th birthday should have been reason for celebration, but its largest producer Saudi Arabia is increasingly putting its own interests before the cartel’s objectives and has put the very existence of OPEC at stake on a number of occasions Founded 60 years ago this month by Iran, Iraq, Kuwait, Saudi Arabia, and…
24 Sept. 2020-The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. Exploration is not dead. It is…
24 Sept. 2020-When the first round of auctions for discovered small fields (DSF-I) took place in 2016, the event was described as the entry point for India’s future oil and gas barons. Indeed, promoters and executives from companies in sectors as diverse as steel, power, software, iron ore, textile and education turned up to bid.…
24 Sept. 2020-The CAG also said that as on September 2019, the cost of unfinished minimum work programme for nine blocks is yet to be worked out by Directorate General of Hydrocarbons (DGH).The Centre has awarded 254 blocks under the New Exploration and Licensing Policy (NELP) I to IX rounds for exploration of oil and…
24 Sept. 2020-New Delhi, Funds collected by the Centre as cesses for specific purposes, such as the mineral trust, oil industry development and infrastructure, have not been fully transferred to dedicated funds, the Comptroller and Auditor General of India (CAG) said, while pointing out deficiencies in the collection, transfer and utilisation of these levies. In…
24 Sept. 2020-A massive fire broke out in Gujarat’s Surat early on Thursday. The blaze was reported from an Oil and Natural Gas Corporation (ONGC) plant in the city. According to the details, several explosions was also reported from the site. The fire brigade had received a call about the blaze at nearly 2:30 am…
24 Sept. 2020-New Delhi: Prominent leaders from the global and domestic City Gas Distribution (CGD) industry would convene Thursday on ETEnergyworld Virtual CGD Summit to lay a roadmap for the rapid growth and expansion of city gas network across India. Key decision makers and private sector executives would discuss threadbare the challenges and opportunities for…
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