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 Read more

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 Read more

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 Read more

The distribution of free cooking gas cylinders from April-June was highlighted as a feather in the cap by the government, in the midst of the pandemic. However, data available with the government shows that only 49.6 per cent of the targeted free cylinders were distributed during the period. Given that the target was to reach Read more

New Delhi: State-run Energy Efficiency Services Ltd (EESL) is in talks with oil major Royal Dutch Shell for a joint venture to invest over Rs 40,000 crore in setting up 5,000 MW decentralised solar plants with storage for low-cost electricity in rural India. EESL is also in talks with at least two other companies for Read more

In a bid to extend further relief, LPG rules may change in time to come. There could be a case that instead of the regular 14 kg LPG cylinder you can purchase the amount of LPG you require. This will indeed be cost-effective. Here is what rules for LPG policy are under consideration? As per Read more

Mumbai: British oil major bp and Reliance Industries (RIL), on Thursday, announced their new fuels and mobility joint venture Reliance BP Mobility Limited (RBML). BP paid RIL $1 billion for a 49% stake in the JV, with RIL holding 51% in the venture, which aims to set up petrol pump stations across the country. It Read more

NEW YORK: Oil prices inched lower on Wednesday, as rising US crude inventories and an increase in US coronavirus infections put the brakes on a price recovery sparked by easing lockdowns. Brent crude futures fell 19 cents to $42.89 a barrel by 11:23 AM EDT (1523 GMT). US West Texas Intermediate (WTI) crude futures fell Read more

LONDON – Oil prices were steady on Wednesday, as rising U.S. crude inventories and an increase in U.S. coronavirus infections put the brakes on a recent recovery sparked by easing lockdowns.Brent crude futures rose 9 cents to $43.17 a barrel by 1340 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 8 cents at Read more

Big Oil majors have been scrambling to make the most ambitious climate commitments in the industry, planning a pivot to clean energy, talking about net-zero emission bills, solar, and wind. However, there is another clean energy source that has remained out of the spotlight–one that may eventually rise to prominence: geothermal. Geothermal energy is, simply Read more

Gasoline demand appears to be weakening in some parts of the United States, as the coronavirus continues to spread. The states hardest hit by the surging number of infections are also some of the largest, with tens of millions of drivers. Much of the country continues to see a slight uptick in gasoline consumption. But Read more

Even before the coronavirus pandemic upended all forecasts for global trade and energy demand, analysts had doubted that China would be able to fulfill its pledge in the phase-one trade deal with the United States to buy as much as US$26 billion worth of American energy products this year. COVID-19 and the resulting plunge in Read more

North Dakota’s oil regulators decided on Tuesday not to impose any oil production restrictions amid the coronavirus pandemic, The Bismarck Tribune reported.North Dakota follows Texas and Oklahoma in deciding not to mandate proration. Instead, they will let the market decide for itself how much oil should be produced. In May this year, the Railroad Commission Read more

RIO DE JANEIRO, Petrobras is preparing to launch a tender to build Brazil’s largest-ever oil platform, according to two people with knowledge of the matter, as the state-controlled oil firm pushes ahead with ambitious plans to boost deepwater production. Petroleo Brasileiro SA, as the Rio de Janeiro-based producer is formally known, plans to launch the Read more

Guwahati: Union Minister of Petroleum & Natural Gas Dharmendra Pradhan reviewed the progress of capping activities of inferno at gas producing well of Oil India Limited (OIL) in Baghjan in Tinsukia district. OIL stated that air quality monitoring was conducted in Baghjan and Guijan side and noise monitoring was conducted in Guijan Side. Sample of Read more