Government likely to extend deadline for BPCL bidding for third time

The government is likely to extend the deadline for bidding for the privatisation of Bharat Petroleum Corporation (BPCL) for the third time in a row, from the current date of July 31. According to sources, the extension of the timelines for expression of interest (EoI) may well be until international airline services are back in…

India’s crude processing extends recovery in June

India’s crude oil processing gathered pace in June, rising 10.9 percent from May to 4.29 million barrels per day, as further easing of coronavirus-led curbs lifted fuel demand. Indian refiners’ crude processing posted its biggest drop in at least nearly two decades in April but rebounded to 3.87 million barrels per day (bpd) in May,…

Govt invites suggestions for inclusion of hydrogen-CNG as automative fuel

New Delhi: In another step towards promoting green fuel, the government on Thursday said it has invited suggestions from stakeholders for inclusion of hydrogen-enriched CNG as an automative fuel. The Ministry of Road Transport and Highways has issued a draft notification seeking comments and suggestions from the public and all stakeholders for amendment to the…

Oil prices change in different directions in the course of trading

The day oil prices changed in different directions, WTI crude oil, recouping part of the losses, tried to correct by raising, while Brent rose in price. The cost of the September futures for Brent crude on the London ICE Futures exchange to 14:26 totaled $accounting period by 43.46 per barrel, or $0,17 (0,39%) above the…

Oil falls 3% as resurgent pandemic prompts worries about US demand

NEW YORK: Oil prices fell about 3% on Thursday as investors worried that renewed lockdowns to contain the spread of coronavirus in the United States would again sink fuel consumption. Brent crude futures fell $1.11, or 2.6%, to $42.18 a barrel by 10:43 a.m. EDT (1443 GMT), after gaining 0.5% on Wednesday. U.S. West Texas…

No intent to drive US shale out of business says OPEC chief

LONDON: OPEC Secretary Mohammad Barkindo said there was no aim to drive US shale oil producers out of business, after the price of US barrels briefly turned negative in April. He was speaking in a CERAWeek interview ahead of next week’s OPEC+ market monitoring panel meeting. The Organization of the Petroleum Exporting Countries (OPEC) and…

NGT Accepts a New Case Against OIL for Baghjan Blowout

Guwahati: The National Green Tribunal (NGT, eastern zone) accepted a new case against Oil India Limited (OIL) and other respondents on July 7 vis-à-vis the Baghjan oil-well blowout. This time, the grounds are that the wells contained gas-condensates and that OIL hadn’t taken the requisite precautions – a point the petitioners have said previous cases…