Crude oil prices fall as rise in virus cases, US inventories stall recovery

NEW YORK: Oil prices inched lower on Wednesday, as rising US crude inventories and an increase in US coronavirus infections put the brakes on a price recovery sparked by easing lockdowns. Brent crude futures fell 19 cents to $42.89 a barrel by 11:23 AM EDT (1523 GMT). US West Texas Intermediate (WTI) crude futures fell…

Oil stable as rise in virus cases, U.S. inventories stall recovery

LONDON – Oil prices were steady on Wednesday, as rising U.S. crude inventories and an increase in U.S. coronavirus infections put the brakes on a recent recovery sparked by easing lockdowns.Brent crude futures rose 9 cents to $43.17 a barrel by 1340 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 8 cents at…

Big Oil Should Focus On The World’s Cleanest Energy Source

Big Oil majors have been scrambling to make the most ambitious climate commitments in the industry, planning a pivot to clean energy, talking about net-zero emission bills, solar, and wind. However, there is another clean energy source that has remained out of the spotlight–one that may eventually rise to prominence: geothermal. Geothermal energy is, simply…

North Dakota Will Not Impose Oil Production Cuts

North Dakota’s oil regulators decided on Tuesday not to impose any oil production restrictions amid the coronavirus pandemic, The Bismarck Tribune reported.North Dakota follows Texas and Oklahoma in deciding not to mandate proration. Instead, they will let the market decide for itself how much oil should be produced. In May this year, the Railroad Commission…

Petrobras to open tender for Brazil’s biggest ever platform

RIO DE JANEIRO, Petrobras is preparing to launch a tender to build Brazil’s largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production. Petroleo Brasileiro SA, as the Rio de Janeiro-based producer is formally known, plans to launch the…

Dharmendra Pradhan reviews progress of capping activities at gas producing well in Baghjan

Guwahati: Union Minister of Petroleum & Natural Gas Dharmendra Pradhan reviewed the progress of capping activities of inferno at gas producing well of Oil India Limited (OIL) in Baghjan in Tinsukia district. OIL stated that air quality monitoring was conducted in Baghjan and Guijan side and noise monitoring was conducted in Guijan Side. Sample of…