Mumbai: British oil major bp and Reliance Industries (RIL), on Thursday, announced their new fuels and mobility joint venture Reliance BP Mobility Limited (RBML). BP paid RIL $1 billion for a 49% stake in the JV, with RIL holding 51% in the venture, which aims to set up petrol pump stations across the country. It…
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…
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 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…
Gasoline demand appears to be weakening in some parts of the United States, as the coronavirus continues to spread. The states hardest hit by the surging number of infections are also some of the largest, with tens of millions of drivers. Much of the country continues to see a slight uptick in gasoline consumption. But…
Even before the coronavirus pandemic upended all forecasts for global trade and energy demand, analysts had doubted that China would be able to fulfill its pledge in the phase-one trade deal with the United States to buy as much as US$26 billion worth of American energy products this year. COVID-19 and the resulting plunge in…
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…
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…
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…
NEW DELHI : The Union cabinet on Wednesday approved an extension till end September for availing free cooking gas cylinders under the marque Pradhan Mantri Ujjwala Yojana (PMUY). The earlier announced Pradhan Mantri Garib Kalyan Yojana (PMGKY) package included providing women of 83 million below poverty line (BPL) families with free cooking gas cylinders for…
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