On the new York Mercantile exchange, WTI crude for delivery in August traded at a price of $ 40,39. per barrel at the time of writing this review up by 0.64%.The session high was made by the mark dollars. per barrel. At the time of writing, WTI crude oil found support at the level of…
SINGAPORE – Oil prices offered up a mixed market snapshot on Monday, with Brent crude edging higher, supported by tighter supplies, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb oil demand in the United States. Brent crude LCOc1 rose 11 cents, or 0.3%, to $42.91 a barrel…
Lebanese Prime Minister Hassan Diab and Iraqi Oil Minister Ihsan Abdul Jabbar discussed on Friday exchanging Iraq’s oil with Lebanon’s food and other industries, news agencies reported.According to Anadolu Agency, the discussions took place during Jabbar’s visit to Beirut and his meeting with Diab and other Lebanese ministers. In a press conference held after the…
Crude oil prices for lighter Nigerian grades have not experienced the rally its category is presently having, despite significant draws on stockpiles in Europe, as cheaper substitutes like U.S Shale continue to be more attractive to importers, according to a report released by Reuters. Bonny light, according to oilprice.com, sold for $43.33, far below the…
First, they said it nicely: play along and cut to your quotas, or we’ll all suffer low oil prices for longer. Then they put their foot down: start cutting deeper or else. And now it has emerged what the “or else” part was—a new price war. The Wall Street Journal’s Benoit Faucon and Summer Said…
Saudi Arabia and Kuwait have restarted production at the Al-Khafji oil field in the neutral zone between the two countries, Turkey’s Anadolu Agency reported, citing a statement by the acting CEO of the Kuwait Gulf Oil Company. An earlier report by Argus News from late June said Saudi Arabia and Kuwait had plans to restart…
The field will resume operations once the Covid-19 situation situation in Tamil Nadu is improved.Hindustan Oil Exploration Company (HOEC) has temporarily suspended operations at PY-1 field from 3 July 2020 considering the Covid-19 situation in Tamil Nadu. The precautionary measure is for ensuring the safety of employees. PY-1 field is in the offshore part of…
The world’s fastest-growing oil market is showing an uneven recovery two months after easing demand-destroying virus-control measures. Provisional fuel sales in June had climbed within 88% of 2019 levels from less than half in April in the midst of the world’s biggest lockdown, the oil ministry said citing sales of the three major state-owned retailers.…
Bharat Petroleum’s Corporate Research & Development Centre (CRDC) has bagged as many as 62 patents since its inception 19 years ago and is awaiting 68 more. Since its establishment in July 2001, CRDC has developed a bouquet of innovations, bagging as many as 62 patents from the country as well as abroad, including the US…
New Delhi: Billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) plans to increase its network of aviation fuel stations by 50 per cent as it looks to capture greater market share in the business currently controlled by public sector oil retailing firms. In its latest annual report, RIL said the double-digit growth observed over 52 consecutive…
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