New Delhi: The government does not regard the recent plunge in oil and gas prices as a normal market-driven fluctuation that should determine the economics of domestic producers, petroleum minister Dharmendra Pradhan said, responding to mounting concerns about viability of Indian fields as their prices are linked to global benchmarks. “Normally prices respond to demand-supply…
NEW DELHI: Anybody can start liquefied natural gas (LNG) dispensing station in the country and wouldn’t require a city gas distribution license for it, the regulator has said in a big step towards aiding India’s ambition of shifting some of its long-haul transport to natural gas. This helps resolve long standing regulatory confusion over LNG…
New Delhi: State-owned GAIL and Energy Efficiency Services Ltd (EESL) signed a memorandum of understanding on Wednesday for cooperation in development of trigeneration projects in India. Trigeneration or Combined Cooling, Heat and Power (CCHP) typically involves natural gas-fired generators to produce electricity. The waste heat from flue gas is recovered to produce hot water or…
Oil regulator PNGRB has said it has no powers to regulate setting up of LNG dispensing stations and any entity can set up such fuel outlets anywhere in the country. Giving its ruling on requests made to it for setting up of standalone liquefied natural gas (LNG) stations, the PNGRB said the Act that governs…
LONDON: Oil prices rose on Tuesday on expectations that major producers would agree to extend output cuts that have shored up prices, during a video conference likely to be held this week. Benchmark Brent crude rose 2.3 per cent, or 88 cents, to $39.20 a barrel as of 0840 GMT. US West Texas Intermediate (WTI)…
NEW YORK: Oil prices were up about $1 a barrel on Tuesday on expectations that major producers will agree to extend output cuts during a video conference likely to be held this week and as countries and US states begin to restart after coronavirus lockdowns. Brent crude rose 2.7 per cent, or $1.04, to $39.36…
NEW YORK: The amount of natural gas flowing on pipelines to US liquefied natural gas (LNG) export plants plunged to a 13-month low in June, a signal of weak worldwide demand due to government lockdowns to stop the spread of the new coronavirus. Worldwide LNG prices collapsed to record lows in Europe and Asia in…
WASHINGTON – The Trump administration believes ahead of an expected OPEC+ meeting this week that major oil producers such as Saudi Arabia and Russia will honor their pledges to cut crude production and will not damage the global economy by changing course, a senior official said on Tuesday. We trust that other major oil producers…
MOSCOW – U.S. President Donald Trump told President Vladimir Putin in a phone call on Monday about his idea of holding an expanded Group of Seven summit later this year with a possible invitation for Russia, the Kremlin and the White House said. Trump said on Saturday he would postpone a G7 summit he had…
HOUSTON/NEW YORK – U.S. shale oil producers are beginning to reverse production cuts as prices recover from historic lows, underscoring shale’s ability to quickly adjust to pricing and posing a challenge to OPEC as it considers extending production curbs. U.S. producers slashed output in April and May as oil prices collapsed due to a supply…
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