Markets regulator Sebi is looking at permitting futures trading in petrol and diesel, an official said emphasising that there has been no disruption in commodities derivatives trading during the Covid-19 crisis. The Securities and Exchange Board of India (Sebi) is also looking at re-allowing futures trade in tur and urad, which were banned in 2007…
Mumbai: UK oil major BP, on Tuesday, said it will invest into the Green Growth Equity Fund (GGEF) in India. The fund, established in 2018, is focused on identifying, investing and supporting growth in zero carbon and low carbon energy solutions in the country. With a commitment of $70 million, BP after its investment later…
New Delhi, In yet another reform initiative in the oil and gas sector, the government is set to throw open city gas distribution (CGD) networks across the country to competition, allowing participation of more than one player in a circle vying to attract consumers. “We have finalised regulations on allowing competition in CGD areas that…
NEW YORK – Oil rose slightly on Monday as positive economic data supported prices, while a spike in coronavirus cases that could curb fuel demand in the United States limited gains. “Energy is still correlating more to the coronavirus,” said Bob Yawger, director of energy futures at Mizuho in New York. “The coronavirus situation kills…
LONDON: Oil prices were mixed on Monday, with Brent crude edging higher on tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb fuel demand in the United States. Brent crude was up 6 cents, or 0.1%, at $42.86 per barrel by 1340…
Russian Energy Minister Alexander Novak said Opec+ hasn’t made any decision yet on extending its deepest output cuts beyond July, while signaling a preference for avoiding repeated changes to the group’s current plan. “Let’s see the situation, technical data, June figures and then the Opec technical committee will analyze the compliance, the market situation and…
Russia is eyeing the possibility of launching a ‘Gas OPEC’, Vedomosti reports, noting that Russian Deputy Minister of Energy Anatoly Yankovsky mentioned this prospect in early June, while Minister of Energy Alexander Novak stated last week that the creation of a coordinating body that would regulate the volume of gas sales and prices “has been…
The oil price crash that Russia helped create, along with the coronavirus-driven global recession, will result in Russia’s economy shrinking this year by the most in 11 years, the World Bank said in its latest economic report on Russia. Russia’s economy will suffer from the global recession and local efforts to contain the pandemic and…
WINNIPEG, Manitoba, Canada’s drilling rig count, a bellwether of the oil and gas industry’s growth, has plummeted far below previous records, raising risks that much of the country’s equipment will permanently fall out of service. Just 18 rigs were active last week in the world’s fourth-largest oil-producing country, a fraction of even the depressed levels…
Total and its project partners will resume drilling at block 11B/12B offshore South Africa in September after the Covid-19 pandemic delayed the exploration programme by several months. The Deepsea Stavanger semi-submersible rig has departed Bergen, Norway, for South Africa to start a multi-well drilling program, said Total’s partner, Canadian oil and gas firm Africa Energy…
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