A US$20 billion refinery and petrochemical complex in Shandong province, China, has officially been launched for construction. The province is apparently the home of several Chinese refiners according to a local newspaper. Earlier this year, China gave the go-ahead to plans for the colossal refinery and petrochemical complex Yulong, which will include a refinery…
Oman has weathered all the innumerable challenges of 2020 with considerable flair, even though the year started off with the untimely passing of Sultan Qaboos, then came the coronavirus pandemic and the renewal of OPEC+ production curtailments that have dealt the economy the double whammy of lower prices and lower production. The Middle Eastern…
US President Donald Trump on Saturday announced that he has signed an order to protect the American energy industry and hydraulic fracturing.“Just signed an order to protect fracking and the oil and gas industry. This means jobs, low energy bills, and continued American energy independence! Sleepy Joe [Biden] would ban fracking and destroy…
The U.S. oil and natural gas rig count rose in October for the third straight month and drillers added the most rigs in a month since May 2018 as some returned to the well pad after crude prices steadied. The oil and gas rig count, an early indicator of future output, rose…
India is gearing up to become a major player in seaborne oil demand, offering a valuable boost in the tanker market. In its latest weekly report, shipbroker Gibson said that “like most nations, Indian oil demand has come under considerable pressure in 2020 as covid-19 derailed the country’s continual demand growth. Nevertheless, the…
NEW DELHI: State-run Solar Energy Corporation of India (SECI) may call bids for setting up green hydrogen plants, said two people aware of the development. Green hydrogen is a next generation fuel, with gas produced through electrolysis from water by using electricity generated through non-greenhouse gas (GHG) producing energy sources such as…
If you are Liquefied Petroleum Gas (LPG) gas cylinder subscriber? Have you been getting your LPG cylinder home-delivered? Please take note of this new rule that implies from today. From today (November 1), customers will be required to furnish a one-time password (OTP) to get their LPG Cylinders home delivered. Oil companies will…
India’s oil import bill may fall further in the remaining period of the current fiscal with Saudi Arabia looking at giving discount in crude it sells to Asian Buyers. Analysts tracking the development said that the benchmark Dubai prices of oil have fallen and so have the gross refining margins. If this holds,…
Crude oil tumbled again on Thursday as lockdowns in Europe clouded the demand outlook while stocks were in and out of losses globally, hinging on support from Wall Street. French President Emmanuel Macron and German Chancellor Angela Merkel have ordered their countries back into coronavirus lockdowns, while cases are rising in 47 U.S. states…
NEW YORK – Oil prices tumbled by more than 4% on Thursday, dropping to a five-month low and extending the previous day’s sharp decline on the impact renewed coronavirus lockdowns could have on oil demand. December Brent crude futures were down $1.66, or 4.2%, at $37.45 by 12:34 EST (1634 GMT), after…
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