The US presidential election looks like a binary choice for the energy sector- an incumbent who has championed the fossil fuels industry or a challenger who has vowed to overhaul the world’s largest economy to meet the threat posed by climate change. Yet oil traders are increasingly cautious about casting US president Donald Trump…
Saudi Arabia and Russia will probably agree to extend their oil production cuts and postpone planned increases when they meet for talks with their OPEC+ partners at the end of November. For tactical reasons, both countries are trying to avoid committing to a rollover until the meeting is closer, seeking to keep their options…
New Delhi- Oil and Natural Gas Corporation Limited (ONGC) the biggest public sector commercial organization in India with a current market capitalization of about USD 60 billion is open to partnerships for exploration acreages under the new Open Acreage Licensing Policy to monetize Oil & Gas assets quickly with the latest technology. ‘One of our…
The state-run Petrobangla has extended the tenure of contract with India’s oil and gas exploration company — ONGC Videsh Ltd — by two more years until February 2023.The deal with the Indian firm was set to expire in February 2021 after an initial two-year extension. Earlier, the Petrobangla signed two production sharing contracts (PSCs)…
India’s transformation on the world energy stage is a study in speed and scale. The country’s population of 1.3bn is expected to grow to over 1.5bn this decade, overtaking China as the world’s most populous nation. Not only will there be more Indians, but Indians will be doing more as the nation’s economy harnesses…
Doha- Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum (QP), H E Saad Sherida Al Kaabi, took part in a virtual interaction session with Prime Minister of India, Narendra Modi, for a discussion of various aspects of India’s energy sector. The session, which was held on the sidelines of…
New Delhi, UAE’s largest oil producer, the Abu Dhabi National Oil Company (ADNOC) on Tuesday said that it is interested in storing more oil in India’s strategic petroleum reserves to boost energy ties with world’s third largest oil consumer. ADNOC is the only overseas company so far that has crude stored in Indian caverns.…
OPEC’s secretary general said on Monday OPEC+ producers did not expect a renewed oil-price collapse as seen in the second quarter, and said producers in the OPEC+ alliance would continue to “stay the course” in balancing the market. OPEC’s Mohammad Barkindo was giving a speech at the virtual India Energy Forum by CERAWeek.OPEC+…
HOUSTON: BP on Sunday said it has begun to evacuate four offshore U.S. Gulf of Mexico oil platforms and secure facilities as Tropical Storm Zeta sprang up in the Caribbean Sea. The 27th named storm of this year’s Atlantic Hurricane season, Zeta strengthened on Sunday and is forecast to become a hurricane…
New Delhi: To boost ethanol production in the country, the government is considering extending subsidised loans to grain-based distilleries also under the ongoing scheme, according to government sources. The sources said both the petroleum and food ministries are of the view that ethanol production cannot be dependent on one feedstock, that is,…
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