INTERNATIONAL Feed Atom

Indian Oil Corporation’s Investment in Renewable Energy: Rs 5,215 Crore for 1 GW Capacity

2 years ago

2 May 2024

12:51 PM

Indian Oil Corporation (IOC) has announced a significant investment of Rs 5,215 crore to develop 1 gigawatt (GW) of renewable energy capacity in India. This strategic move aligns with IOC’s broader diversification strategy beyond traditional oil and gas ventures.

Oil prices rebound after closing at seven-week low

2 years ago

2 May 2024

12:48 PM

Brent crude futures for July gained 58 cents, or 0.7%, to $84.02 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude for June was up 47 cents, or 0.6%, at $79.47.

India’s Chennai Petroleum two years behind on refinery construction

2 years ago

1 May 2024

9:50 AM

Chennai Petroleum is two years behind schedule on constructing a 180,000bpd refinery in Nagapattinam, Tamil Nadu, with completion expected in 2027, according to finance head Rohit Kumar Agrawala.

Canada regulator approves final permits for Trans Mountain pipeline expansion

2 years ago

1 May 2024

9:41 AM

The Canada Energy Regulator on Tuesday approved the final permits for the Trans Mountain oil pipeline expansion, clearing the way for the project to start operating after years of delays and massive cost overruns.

Oil falls for a third day as Middle East ceasefire hopes rise

2 years ago

1 May 2024

7:58 AM

Both oil price benchmarks were down more than 1% at 0650 GMT. Brent crude futures for July were 88 cents lower at $85.45 a barrel, while U.S. West Texas Intermediate crude futures for June were 90 cents lower at $81.03 per barrel.

With oil set to flow, what next for Canada’s Trans Mountain pipeline expansion?

2 years ago

30 April 2024

11:06 AM

Canada's Trans Mountain pipeline expansion is set to enter partial operation on May 1, years behind schedule and at more than four times the original cost - but with the potential to affect oil flows even outside North America.

Oil steady as investors eye Mideast talks, rates meeting

2 years ago

30 April 2024

11:03 AM

Brent crude futures rose 27 cents, or 0.3%, to $88.67 a barrel at 0830 GMT, while U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $82.93 a barrel.

India’s ONGC struggling to move Russian oil to Asia as sanctions bite – sources

2 years ago

29 April 2024

11:04 AM

India's ONGC faces challenges in locating a vessel to transport 700,000 barrels of crude from Russia's Far East due to Western sanctions disrupting complex trades.

Turkey in talks with ExxonMobil over multibillion-dollar LNG deal, FT reports

2 years ago

28 April 2024

11:03 AM

Turkey is in talks with US energy giant ExxonMobil over a multibillion-dollar deal to buy liquefied natural gas, in an effort to curb its dependence on Russian energy, the Financial Times reported on Sunday.

It’s About Reducing Emissions, Not Oil Demand

2 years ago

28 April 2024

10:49 AM

The pace at which global energy demand is growing means that alternatives cannot replace oil at the necessary scale writes OPEC Secretary General Haitham Al Ghais. Rather than calling for an end to oil, the focus should be on reducing emissions.

India set to sign trade deal with Oman to expand its Middle East ties

2 years ago

27 April 2024

11:15 AM

India and Oman will sign a trade deal in the coming months, two Indian government officials said, as New Delhi seeks to expand its ties in the Middle East, where rising tensions are putting major shipping routes at risk.

Kremlin says Russia will seek to overcome any EU sanctions on its LNG operations

2 years ago

27 April 2024

11:09 AM

Russia will look for ways to overcome what it regards as any illegal sanctions the European Union imposes on its liquified natural gas (LNG) operations, the Kremlin said on Saturday, saying any measures would backfire on European industry.

The issue of Iran’s gas export to India should be monitored: expert

2 years ago

27 April 2024

11:04 AM

Iran's National Gas Export Company CEO Mehran Amirmoini warns of limited seabed vessel capacity and sanctions as major obstacles to implementing a gas pipeline to India.

Oil prices on track to snap two-week losing streak

2 years ago

26 April 2024

11:02 AM

Brent crude futures gained 19 cents, or 0.2%, to $89.20 a barrel at 0927 GMT, and U.S. West Texas Intermediate crude futures rose by 25 cents, or 0.3%, to $83.82 a barrel.

COP29 climate summit host Azerbaijan defends oil and gas investments

2 years ago

26 April 2024

10:58 AM

Azerbaijan, host of this year's U.N. climate summit, will defend the right of oil and gas producing nations to invest in the sector, the country's president said on Friday, noting that despite climate targets, fossil fuel demand remains strong.

Canada’s LNG Energy Signs Venezuela Oil Contract

2 years ago

25 April 2024

10:36 AM

Canada-based LNG Energy Group announced on Wednesday it had signed an agreement with Venezuela’s state-owned PDVSA Petroleo, though the renewal of US oil sanctions could potentially pose problems.

India lets oil firms procure extra ethanol from sugar mills

2 years ago

25 April 2024

10:29 AM

India has agreed to allow oil marketing companies to procure ethanol by diverting an extra 800,000 metric tons of sugar for biofuel production, a government source said on Wednesday.

Oil eases as US demand concerns outweigh Middle East fears

2 years ago

25 April 2024

10:27 AM

Brent crude futures fell 4 cents, or 0.1%, to $87.98 a barrel by 1005 GMT while U.S. West Texas Intermediate crude futures were down 7 cents, or 0.1%, at $82.74.

Oil prices steady after rallying on US stock decline, business data

2 years ago

24 April 2024

11:05 AM

Brent crude futures fell 24 cents, or 0.27%, to $88.18 a barrel by 1024 GMT. U.S. West Texas Intermediate crude futures lost 33 cents, or 0.4%, to $83.03 a barrel.

Hitachi Energy eyes expansion in India amid rising power deman

2 years ago

24 April 2024

10:58 AM

Hitachi Energy is looking to open more global capability centers in India to expand local operations, amid growing energy demand and a push to scale up renewable energy generation in the country.

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Latest News of Oil, Gas and Petrochemical industry

INTERNATIONAL Feed Atom

Indian Oil Corporation’s Investment in Renewable Energy: Rs 5,215 Crore for 1 GW Capacity

Oil prices rebound after closing at seven-week low

India’s Chennai Petroleum two years behind on refinery construction

Canada regulator approves final permits for Trans Mountain pipeline expansion

Oil falls for a third day as Middle East ceasefire hopes rise

With oil set to flow, what next for Canada’s Trans Mountain pipeline expansion?

Oil steady as investors eye Mideast talks, rates meeting

India’s ONGC struggling to move Russian oil to Asia as sanctions bite – sources

Turkey in talks with ExxonMobil over multibillion-dollar LNG deal, FT reports

It’s About Reducing Emissions, Not Oil Demand

India set to sign trade deal with Oman to expand its Middle East ties

Kremlin says Russia will seek to overcome any EU sanctions on its LNG operations

The issue of Iran’s gas export to India should be monitored: expert

Oil prices on track to snap two-week losing streak

COP29 climate summit host Azerbaijan defends oil and gas investments

Canada’s LNG Energy Signs Venezuela Oil Contract

India lets oil firms procure extra ethanol from sugar mills

Oil eases as US demand concerns outweigh Middle East fears

Oil prices steady after rallying on US stock decline, business data

Hitachi Energy eyes expansion in India amid rising power deman