US energy use hit 30-year low during pandemic shutdowns

BILLINGS, Mont. — U.S. energy consumption plummeted to its lowest level in more than 30 years this spring as the nation’s economy largely shut down because of the coronavirus, federal officials reported Wednesday. The drop was driven by less demand for coal that is burned for electricity and oil that’s refined into gasoline and jet…

For Next Project, Oil India Plans to Drill Closer to Dibru-Saikhowa National Park

Even as a gas well operated by Oil India Limited (OIL) in Baghjan, Assam, continues to blaze out of control, the same company wants to drill for oil just a kilometre away from the site – at the edge of a national park. The company’s 200-page environmental impact assessment (EIA) report reveals the company took…

OIL Plans Dummy Run for Capping Operation at Assam’s Baghjan Oilfield

Oil India Limited (OIL) is planning dummy run of the final capping operation and subsequent killing operation at its Baghjan oilfield in Assam where a well is spewing gas for over two months. Considering the critical nature of the operations, a dummy run is being planned to be carried out with heavy machinery before the…

BP, Total not to bid for BPCL; investors weigh inflexible locations, labour laws

Supermajors BP Plc and Total of France may not bid for the acquisition of Bharat Petroleum Corp Ltd (BPCL) as foreign investors weigh inflexible locations of company’s oil refineries as well as tough labour laws against access to world’s fastest-growing fuel market. Among the probables who could bid to buy government’s entire 52.98 per cent…

Govt extends BPCL bid deadline to Sep 30

The government has for the third time extended the deadline for bidding for privatisation of India’s second-biggest oil refiner Bharat Petroleum Corp Ltd (BPCL) by two months to September 30. While the Cabinet had in November last year approved the sale of government’s entire 52.98 per cent stake in BPCL, offers seeking expression of interest…

Crude Oil Futures Settle Lower

WASHINGTON — New York Mercantile Exchange oil futures and Brent crude on the Intercontinental Exchange settled lower Tuesday as investors turned their focus to U.S. crude inventories, with expectations for another build in already swelling supplies. At settlement, NYMEX September West Texas Intermediate futures fell 56 cents to $41.04 barrel (bbl) and the international benchmark…