The government is likely to extend the deadline for bidding for the privatisation of Bharat Petroleum Corporation (BPCL) for the third time in a row, from the current date of July 31. According to sources, the extension of the timelines for expression of interest (EoI) may well be until international airline services are back in…
India’s crude oil processing gathered pace in June, rising 10.9 percent from May to 4.29 million barrels per day, as further easing of coronavirus-led curbs lifted fuel demand. Indian refiners’ crude processing posted its biggest drop in at least nearly two decades in April but rebounded to 3.87 million barrels per day (bpd) in May,…
New Delhi: In another step towards promoting green fuel, the government on Thursday said it has invited suggestions from stakeholders for inclusion of hydrogen-enriched CNG as an automative fuel. The Ministry of Road Transport and Highways has issued a draft notification seeking comments and suggestions from the public and all stakeholders for amendment to the…
The day oil prices changed in different directions, WTI crude oil, recouping part of the losses, tried to correct by raising, while Brent rose in price. The cost of the September futures for Brent crude on the London ICE Futures exchange to 14:26 totaled $accounting period by 43.46 per barrel, or $0,17 (0,39%) above the…
NEW YORK: Oil prices fell about 3% on Thursday as investors worried that renewed lockdowns to contain the spread of coronavirus in the United States would again sink fuel consumption. Brent crude futures fell $1.11, or 2.6%, to $42.18 a barrel by 10:43 a.m. EDT (1443 GMT), after gaining 0.5% on Wednesday. U.S. West Texas…
China has issued a third batch of non-state crude import quotas for 2020, sending the amount awarded so far this year more than 10pc above the total for 2019.The commerce ministry (MoC) issued another 26.84mn t (196mn bl) of import quotas to non-state firms, taking the total amount for 2020 to around 1.35bn bl (3.68mn…
Overall group output fell by 1.82mn b/d from May to 22.28mn b/d in June, the most depleted level since Argus began keeping records in January 1998.The decline came as Saudi Arabia, the UAE and Kuwait pledged combined extra cuts that took their respective ceilings under the Opec+ deal down to 7.49mn b/d, 2.35mn b/d and…
LONDON: OPEC Secretary Mohammad Barkindo said there was no aim to drive US shale oil producers out of business, after the price of US barrels briefly turned negative in April. He was speaking in a CERAWeek interview ahead of next week’s OPEC+ market monitoring panel meeting. The Organization of the Petroleum Exporting Countries (OPEC) and…
Guwahati: The National Green Tribunal (NGT, eastern zone) accepted a new case against Oil India Limited (OIL) and other respondents on July 7 vis-à -vis the Baghjan oil-well blowout. This time, the grounds are that the wells contained gas-condensates and that OIL hadn’t taken the requisite precautions – a point the petitioners have said previous cases…
Oil India Limited(OIL) has failed to douse the Baghjan 5 oil fire which has entered 44th day on Thursday.Six experts from Singpore-based Alert Disaster Control were called to control the fire at Baghjan 5 oil well but they have also failed to douse the fire till date. A blowout occurred at Baghjan 5 oil well…
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