18 August 2020:The International Energy Agency this week revised down its gasoline and jet fuel demand forecast for the rest of the year. In seemingly unrelated news, Philips 66 said that it is turning a San Francisco refinery into a biofuels plant. In separate news, Shell said it would permanently shutter a refinery in the…
18 August 2020:MELBOURNE: Japan’s Mitsui & Co won an exemption from the Western Australian government on Monday to export gas from a new onshore field, in a push to jump start the project and help the state’s recovery from the coronavirus pandemic. Western Australia said it would ban all exports of onshore gas in a…
18 August 2020:Refiners are shutting down permanently or converging oil refineries as the demand crash from the pandemic continues to crush refining margins.Several refiners and oil majors have recently announced permanent closures in the United States and Asia, while analysts believe that some high-cost refineries in Europe could also be shut down over the next…
18 August 2020-LONDON/MOSCOW/DUBAI: Compliance with OPEC+ oil output cuts is seen at around 97% in July, two OPEC+ sources told Reuters on Monday, two days ahead of a meeting of key OPEC+ producers to review adherence with their production pact as demand slowly recovers. The Organization of the Petroleum Exporting Countries and allies including Russia,…
18 August 2020-PARIS: French energy group Total and its partners have launched the third phase of development for the Mero deep offshore oil project off the coast of Brazil, the company said on Monday. The Mero 3 floating production storage and offloading vessel(FPSO) will have a liquid treatment capacity of 180,000 barrels per day (bpd)…
18th August 2020-Brussels: Josep Borrell, High Representative of the European Union (EU) for Foreign Affairs and Security Policy, has urged Turkey to immediately end its renewed drilling activities in the Eastern Mediterranean. “I call on the Turkish authorities to end these activities immediately and to engage fully and in good faith in a broad dialogue…
18th August 2020-UNITED STATES OF AMERICA : The Trump administration on Monday finalized a plan to allow oil and gas drilling in Alaska’s Arctic National Wildlife Refuge, putting it on track to issue decades-long leases in the pristine wilderness area before a potential change in US leadership. The 19 million acre (7.7 million hectares) refuge…
18th August 2020:Nagpur: Vidarbha Petroleum Dealers Association (VPDA) has alleged that a number of outlets licensed to vend bio-diesel have been selling spurious fuel instead. The government had allowed direct sale of bio-diesel for mixing with high speed diesel (HSD) from April 2019. This has led to a number of dealers selling fuel oil in…
18th August 2020:NEW DELHI : Prime Minister Narendra Modi on Monday chaired a meeting with key cabinet ministers, including Nitin Gadkari (transport), Piyush Goyal (trade and railway), Nirmala Sitharaman (finance) and Hardeep Singh Puri (aviation), to work out a master plan to improve multimodal connectivity in industrial hubs to cut the cost of logistics, officials…
18th August 2020:The government has set targets of 10 per cent bioethanol blending of petrol by 2022 and to raise it to 20 per cent by 2030 under the ethanol blending programme to curb carbon emissions and reduce India’s dependence on imported crude oil. 1G and 2G bioethanol plants are set to play a key…
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