How Opec can guide its members through the climate crisis

In Dubai on Friday, the temperature reached 40 Celsius, nothing surprising for this time of year. Yet Verkhoyansk in Siberia, north of the Arctic Circle, hit 38 degrees, an Arctic record. This shocking occurrence, in one of the coldest places in the world during winter at -50 degrees, warns the petroleum industry that rapid, transformational…

Chinese Oil Majors Could Form A Powerful Buyers Club

China’s state-owned oil companies—Sinopec, CNOOC, PetroChina, and Sinochem—are discussing an arrangement to buy crude oil together instead of individually, to avoid bidding wars and gain more bargaining power, unnamed sources in the know told Bloomberg. The group has already secured the support of the central government and its first step as a collective buyer would…

Libyan tribal leader says oil output to resume

TUNIS, A tribal leader in Libya’s oil-producing region on Monday indicated tribes there were ending a blockade on output and exports, saying “we opened the oil”, and have handed authority to eastern-based forces to negotiate a restart in production. However, some other tribal leaders in the region did not take part in the issuing of…

Government finalises draft for hydrogen-powered cars

The automotive industry moved a step closer to the commercial launch of hydrogen-powered vehicles in India with the government-instituted automotive industry standards committee (AISC) submitting a final draft on its regulations. This is the second time the government is considering a new type of fuel. Similar guidelines for electric vehicles were finalised earlier.In India, currently…

92.5 cr litres of ethanol supplied to OMCs so far for blending with petrol: ISMA

New Delhi: Sugar mills have contracted to supply 170 crore litres of ethanol to oil marketing companies (OMCs) for the year ending November and out of that 92.5 crore litres have been delivered so far for blending with petrol, according to industry data. The OMCs have been able to achieve over 5 per cent blending…