Nigeria’s flagship bonny light lost some ground at the last trading session, as concerns about the rise in COVID-19 cases raised bearish sentiments that the world’s energy demand will falter as major oil-producing countries including Nigeria get ready to increase in output for next month. On Saturday, the world’s biggest economy’s COVID-19 related deaths exceeded…
On Friday, both US and UK crude oil futures’ prices scheduled to be expired on July 20 had winded down the day marginally lower as fears over another round of forced business closure due to a recent spike in pandemic cases had taken a heavier toll on investors’ mind. In point of fact, contemplating the…
BAKU – Azerbaijan warned on Saturday about security risks to the oil and gas it supplies to European markets due to the outbreak of hostilities at its border with Armenia. Elshad Nassirov, vice president of Azeri state energy company SOCAR, said on a conference call some of the energy infrastructure involved in shipping Caspian oil…
The media — at least in Europe — seems to be abuzz with talk about green hydrogen. As an energy source, backers envision hydrogen powering everything from aircraft, to steel mills, to global shipping fleets, cars, and homes. The catalyst (no pun intended) came from the E.U.’s recent greenhouse gas emission policy review. The review…
High Representative of the European Union (EU) for Foreign Affairs and Security Policy Josep Borrell has said he was deeply concerned over the growing use of sanctions, or the threat of sanctions, by the US against European companies and interests. “We have witnessed this developing trend in the cases of Iran, Cuba, the International Criminal…
The Organization of the Petroleum Exporting Countries and other nations agreed during a video conference last week to ease up on cuts. Ministers from the OPEC cartel have agreed to allow more oil to flow from the taps, saying demand for oil is growing as economies take steps to reopen. But they also cautioned that…
While massive effort is on to douse the roaring fire and cap the gas well head at Baghjan by Oil India Limited, Prime Minister Narendra Modi today took a stock of the progress in this regard and also expressed his concern towards its affected people. Prime Minister Modi had a conversation with Assam Chief Minister,…
India’s quest for building its energy security may see it continue to pursue investment opportunity in Farzad-B gas field in Iran even though ONGC Videsh Ltd (OVL) may not get to develop the block that it discovered over a decade ago. Highly placed sources in the oil ministry said that Indian consortium including Indian Oil,…
The privatisation of BPCL is expected to benefit from the growing forebodings among oil multinationals about investment in China in the wake of its failings to disclose the coronavirus pandemic. Besides, the fuel market in the country — India is the world’s third largest consumer — is a big attraction that should ensure aggressive bidding…
NGT asks CPCB to ensure states, UTs ban use of petcoke, furnace oilNew Delhi: The National Green Tribunal (NGT) has asked the Central Pollution Control Board (CPCB) to ensure that states and Union Territories (UTs) ban the use of petcoke and furnace oil as fuel to prevent damage to the environment and public health. A…
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