Guwahati: A ‘roadmap’ has been chalked out to douse Assam’s oil well fire, which continues to blaze for the fourth day on Friday and has till now claimed two lives, the state-owned Oil India Ltd (OIL) announced.   An OIL release said that a “Roadmap” for the well control operation by experts’ team from Singapore Read more

Gas Exchange can facilitate trading of coal bed methane in a short term market: Vilas Tawde, MD & CEO, EOGEPLMumbai-based Essar Oil & Gas Exploration & Production Ltd (EOGEPL) will soon evacuate gas from the Raniganj block through GAIL’s Urja Ganga Gas Pipeline which once commissioned will become the energy lifeline of local industry, Vilas Read more

Singapore — India’s oil demand has rebounded from levels witnessed during the lockdown, prompting refiners to raise throughput, but consumption will struggle to recover to year-ago levels in coming months and keep overall demand numbers for 2020 in the red, analysts told S&P Global Platts.   With the economy struggling and COVID-19 cases rising, domestic Read more

Emergency Response Centres (ERCs) to handle major oil fires in the fastest way possible are yet to be set up in India, more than a decade after they were recommended by the MB Lal Committee.This is according to the last report of the Parliamentary panel on Petroleum and Natural Gas that was tabled in the Read more

Hit badly by the lower crude oil price, state-run Oil and Natural Gas Corporation (ONGC) has sought a price assurance of $45 a barrel from the government. Owing to the lockdown and Covid-19 impact, the company has also cut its capital expenditure by over 15 per cent or Rs 5,000 crore for 2020-21.   The Read more

Oil prices dropped sharply on Thursday as fears resurfaced that a second wave of coronavirus could hit the US and stunt economic activity, while data showing that US oil inventories surged last week also subdued prices. On Wednesday, data showed US commercial crude oil inventories rose by 5.7 million barrels compared to the previous week, Read more

NEW YORK – Oil prices tumbled about 8% a barrel on Thursday, fuelled by renewed concerns about demand destruction as new cases of coronavirus tick up globally, while crude inventories hit a record in the United States. U.S. coronavirus cases surpassed 2 million on Wednesday, according to a Reuters tally, and new infections are rising Read more

The race for crude oil domination will become even more interesting as China is set to go head-to-head with African giant, Dangote in the refinery business. With its reputation as the world’s biggest single-refinery train at 650,000 barrels per day capacity (bpd) after its completion in 2020, the Dangote Petroleum Refinery has the potential to Read more

Although revisions to EIA’s forecasts in the June STEO are generally smaller than they have been in recent months, this forecast remains subject to heightened levels of uncertainty because mitigation and reopening efforts related to the 2019 novel coronavirus disease COVID-19 continue to evolve. Reduced economic activity related to the COVID-19 pandemic has caused changes Read more

The study, OPEC’s Pursuit of Market Stability, was conducted by the King Abdullah Petroleum Studies and Research Center (KAPSARC) and published by the International Association of Energy Economics. The cartel’s performance between 2001 and 2014—three years before the advent of OPEC+ as opposed to just OPEC, was still robust, reduced oil volatility by as much Read more

The Department of Petroleum Resources (DPR) announced earlier today that it had extended, by one week, the deadline for the registration of interest to bid for the marginal oilfields in Nigeria. As Nairametrics reported last week, the initial deadline for interested applicants to indicate interest for the bid was supposed to be June 14.However, the Read more

GUWAHATI: After 48 hours of the explosion leading to an inferno, Oil India Limited reported on Thursday that the extent of the fire has been contained to the well and spread of fire to nearby village has been cutoff. “No flash fire is reported from the nearby areas. In order to arrest any untoward incidents Read more

Gabon’s Directorate General of Hydrocarbons and PGS have just expanded the Gabon MegaSurvey coverage, significantly increasing access to 3D seismic over the 35 blocks on offer under the ongoing 12th Offshore Licensing Round. In a very competitive market environment, Gabon is showing once again its willingness to remain attractive and engage with regional and global Read more

NEW DELHI: Oil minister Dharmendra Pradhan on Thursday constituted a three-member expert panel to probe the ‘blowout’ and subsequent fire at one of state-run Oil India Ltd’s production wells at Baghjan field in Tinsukia district of Assam. The committee will be headed by S.C.L. Das, who heads the Directorate General of Hydrocarbons, the ministry’s regulatory Read more

Gadkari said he had a meeting with PK Sinha, advisor to Prime Minister Narendra Modi, and secretaries from the departments of petroleum, food, agriculture and MSME, and chairman of the food corporation of India (FCI) this week in this regard. Transport and MSME minister Nitin Gadkari on Thursday said the government is considering allowing ethanol Read more