Opec oil output hits 2-decade low as Saudis make further cuts

LONDON: Opec oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts, a Reuters survey found, pushing group compliance in a supply reduction pact above 100% despite incomplete adherence by Iraq and Nigeria. The 13-member Organisation of the Petroleum Exporting Countries pumped 22.62 million…

U.S. crude oil output falls 669,000 bpd to 12.1 million bpd in April

NEW YORK, U.S. crude oil production dropped 669,000 barrels per day to 12.06 million bpd in April, the government said in a monthly report on Tuesday. The decline came as production fell 234,000 bpd in Texas, the largest oil-producing state, and 195,000 bpd in North Dakota. Output fell 16,000 bpd in federal waters in the…

India’s Petronet close to signing long-term LNG deal around spot prices

In a first, India’s biggest LNG importer Petronet on Tuesday said it is close to signing a long-term LNG deal benchmarked to daily or spot prices, which generally are lower than standard rates of such contracts. India bought liquefied natural gas (LNG) under long-term contracts from Qatar and Australia at an average of USD 3.5-4.5…

Gujarat State Petronet transfers CGD network for two geographical areas to Gujarat Gas

Gujarat State Petronet announced that Petroleum and Natural Gas Regulatory Board (PNGRB) has vide its Letters dated 29 June, 2020, accepted the proposal made by the Company to transfer the Authorizations for developing City Gas Distribution (CGD) Network in the Geographical Areas of Amritsar District and Bhatinda District to Gujarat Gas (GGL). GGL is required…

‘Delhi’s Waste-to-energy Plant Has The Potential To Carve Out A Greener Future’: Pradhan

The Indian Oil Corporation, National Thermal Power Corporation, and South Delhi Municipal Corporation (SDMC) on Tuesday signed an MoU to develop a waste-to-energy facility at Okhla landfill site using gasification technology. This plant will process 17,500 tons per annum of Refuse Derived Fuel (RDF) produced from combustible components of municipal waste to generate syngas which…