Washington’s failure in the past two years to force regime change in Caracas by means of severe sanctions gives the incoming US administration of president-elect Joe Biden an opportunity to try a more diplomacy-focused approach. Biden’s policy goal for Venezuela — ensuring a free and fair election to help restore democracy and rebuild…
LONDON – Global oil demand will rebound more slowly in 2021 than previously thought because of the lingering impact of the coronavirus pandemic, OPEC said on Monday, hampering efforts by the group and its allies to support the market. Demand will rise by 5.90 million barrels per day (bpd) next year to 95.89…
Houston — US shale volumes and new well productivity per rig are both expected to fall month-over-month in January as the industry enters the winter season and the number of drilled, but uncompleted wells continues to decline, the US Energy Information Administration said in its Dec. 14 drilling productivity report. US unconventional oil…
India’s state-owned ONGC Videsh has plans to drill two wildcats off Bangladesh after the host government recently further extended the exploration term for production sharing contracts at blocks SS-04 and SS-09. The two shallow-water wells are scheduled to be drilled from October 2021 after next year’s monsoon season.The probes, targeting the Titly and…
Nayara Energy, formerly Essar Oil, has tied up with energy major Shell to sell the latter’s lubricants through its network of fuel stations across the country, the companies said in a joint statement on Monday.Nayara Energy has a fuel retail network of over 5,900 fuel stations in India and aims to scale it…
New Delhi: India’s fuel demand fell 3.6 per cent year-on-year in November, reversing the return to normal consumption levels attained in the previous month. Total demand for petroleum products in November fell to 17.83 million tonnes from 18.51 million tonnes a year back, according to provisional data published by the oil ministry’s Petroleum Planning…
New Delhi: Torrent Gas Ltd on Monday pledged Rs 5,000 crore investment to develop infrastructure to retail CNG to automobiles and piped gas to households and industries in Chennai, the biggest city gas license in its portfolio. Torrent Gas, part of the pharma-to-energy Torrent Group, signed a Memorandum of Understanding (MoU) with the…
A high-powered committee will, on Tuesday, evaluate preliminary bids received from mining-to-oil conglomerate Vedanta and private equity firms Apollo Global and I Squared Capital’s arm Think Gas for buying the government’s 52.98 per cent stake in Bharat Petroleum Corporation Limited (BPCL), sources said. Last week, an inter-ministerial meet was held to discuss…
AMMAN – Jordan’s majority state-owned National Petroleum Company (NPC) has discovered “promising” new quantities of natural gas in the Risha gas field along its eastern border with Iraq, the energy minister said on Sunday. Hala Zawati said in a statement the flow of gas from a new well among several drilled this…
Ahead of the international climate change summit, UK PM Boris Johnson said that Britain is set to end government funding for fossil fuel projects overseas. Previously, Britain has been criticised for sending billions of pounds abroad to help extract and refine fossil fuels and build power stations. On December 11, Johnson announced halt…
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