Blockades Lifted, Operations Resume At Oil India Limited’s Baghjan Wells

Oil India Limited on Sunday said most of its wells in Assam’s Baghjan, which were shut due to protests by locals over a fire at a gas well after a days-long blowout, have resumed operations following a meeting with a representative body of residents mediated by the Tinsukia district administration. The operations started between 7…

Centre propose amendments in MV draft rules to allow int’l movement

The Centre has proposed amendment in the Motor Vehicle Draft rules for facilitating MoUs with neighbouring countries which would allow movement of passenger or goods vehicles. Accordingly, the Ministry of Road Transport and Highways has invited “suggestions and comments” from all stakeholders on the proposed amendment. Besides, it has been decided to establish standard guidelines…

Some states plan to cancel contracts with Chinese firms

Some states have started planning to cancel contracts with Chinese companies and instructed personnel to remove China-made apps from mobile phones amid growing clamour to boycott goods produced by the neighbouring country after clashes in Ladakh left 20 soldiers dead. On Saturday, Haryana annulled two tenders for installation of flue gas de-sulphurization (FGD) system at…

India to dominate Asia’s new-build trunk pipeline length additions by 2023, says GlobalData

India is expected to lead Asia’s oil and gas new-build trunk/pipeline length additions, contributing around 59% of Asia’s planned and announced pipeline length additions between 2020 and 2024, says GlobalData, a leading data and analytics company. GlobalData’s latest report,‘Global Length and Capital Expenditure Outlook for Oil and Gas Pipelines, 2020−2024: Asia Leads Global Pipeline Growth’,…

India’s May crude oil imports post biggest decline since at least 2005

New Delhi: India’s crude oil imports in May fell 22.6% from a year earlier, it’s biggest drop since at least 2005, as fuel demand and refinery production was hurt by a country-wide lockdown to curb the spread of coronavirus. Crude oil imports fell to 14.61 million tonnes, it’s lowest since 2015, Petroleum Planning and Analysis…

India’s May crude oil imports post biggest decline since at least 2005

New Delhi: India’s crude oil imports in May fell 22.6% from a year earlier, it’s biggest drop since at least 2005, as fuel demand and refinery production was hurt by a country-wide lockdown to curb the spread of coronavirus. Crude oil imports fell to 14.61 million tonnes, it’s lowest since 2015, Petroleum Planning and Analysis…

Oil jumps 2%, posts seventh positive week in eight on supply cut optimism

Oil prices rose on Friday but pulled back sharply from early highs on concerns that continued spread of the novel coronavirus could stall the United States’ economic rebound. Crude benchmarks followed other assets lower, pulling back from session highs after Boston Federal Reserve President Eric Rosengren said more fiscal and monetary support for the U.S.…

Middle East crude benchmarks provide lessons on valuing oil in volatile markets

The crude oil market has witnessed some of the highest volatility in living memory in recent months, casting a spotlight on the evolving role of global crude benchmarks. In the Middle East and key consuming regions such as Asia, it follows that the market is keen to understand what the tradable value of Middle Eastern…