INTERNATIONAL Feed Atom

INCREASING OIL AND GAS PRODUCTION AMONG TOP PRIORITY, SAYS INDIA’S PETROLEUM MINISTER

2 years ago

19 June 2024

4:08 AM

The India government aims to boost oil and gas output, ethanol use, and green hydrogen, with profitable state-run oil firms like BPCL not being sold off. Petroleum and natural gas minister Hardeep Singh Puri emphasized these steps as a continuation of previous efforts.

Canada oil and gas emissions cap likely to curtail production, report says

2 years ago

19 June 2024

3:47 AM

Canada's proposed oil and gas emissions cap will prompt companies to cut production rather than invest in costly carbon capture and storage technology, according to a report by consultancy Deloitte and released by the Alberta government.

EU extends sanctions against Russia for another year

2 years ago

18 June 2024

6:27 AM

The Council of the European Union adopted a decision on 17 June to extend the sanctions imposed by the EU in response to the annexation of Crimea and the city of Sevastopol by the Russian Federation until 23 June next year.

Oil steady as downbeat Chinese data offset demand hopes

2 years ago

17 June 2024

10:00 AM

Global benchmark Brent crude futures were up 6 cents at $82.68 a barrel at 0805 GMT. U.S. West Texas Intermediate crude futures added 2 cents to $78.47.

India in talks with Norway’s Equinor for oil reserves and gas deal

2 years ago

17 June 2024

9:57 AM

India is in discussions with Norwegian energy giant Equinor for its participation in India’s strategic petroleum reserves (SPR) to bolster India’s energy security, according to a Mint report.

India cuts windfall tax on petroleum crude

2 years ago

16 June 2024

3:48 AM

The Indian government has cut the windfall tax on petroleum crude to 3,250 Indian rupees ($38.90) per metric ton from 5,200 rupees, effective June 15, according to a notification issued on Friday.

OPEC sees no peak oil demand long term, secretary general says

2 years ago

14 June 2024

8:38 AM

OPEC does not see a peak in oil demand in its long-term forecast and expects demand to grow to 116 million barrels a day by 2045, and may be higher, the secretary general said on Thursday.

Oil prices set for best week in over 2 months on demand outlook

2 years ago

14 June 2024

8:34 AM

Brent crude futures were down 42 cents, or 0.5%, at $82.33 a barrel by 0646 GMT. West Texas Intermediate (WTI) U.S. crude futures lost 51 cents, or 0.7%, to trade at $78.11 a barrel.

Canada, U.S. oil producers to break records through 2030: IEA

2 years ago

13 June 2024

10:20 AM

Canadian and United States oil producers are set to break output records through 2030, according to the International Energy Agency (IEA) in a new report calling for a “staggering” global surplus of crude by the end of the decade.

No major projects in India to turnaround faltering oil production: IEA

2 years ago

13 June 2024

10:12 AM

Indian output will get a small uplift in 2024 as the 50,000 bpd offshore K-G Basin Cluster-2 project ramps up and the onshore Rajasthan Basin posts a modest increase, says IEA.

Oil softens on Fed rate decision, ample supply outlook

2 years ago

13 June 2024

10:01 AM

Brent crude futures was down 43 cents, or 0.5%, to $82.17 a barrel by 0902 GMT. West Texas Intermediate (WTI) U.S. crude futures fell 46 cents, or 0.6%, to $78.04.

India’s oil minister to get second term in new government

2 years ago

12 June 2024

8:33 AM

India’s current oil minister has been selected for a second term following the news this week that Prime Minister Narendra Modi’s ruling party had pulled off a narrower than expected victory in national elections.

Oil climbs on optimistic demand outlook

2 years ago

12 June 2024

8:03 AM

Brent crude futures rose 50 cents, or 0.6%, to $82.42 a barrel at 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 62 cents, or 0.8%, to $78.52.

OPEC’s Oil Price Rises for 5 Days in A Row

2 years ago

12 June 2024

7:56 AM

OPEC’S daily oil price has risen consistently since 3rd June, a day after it fell considerably after holding 188th OPEC and 37th OPEC+ Ministerial Meetings on June 2.

Canadian oil & gas player comes into possession of more offshore acreage in Namibia’s Orange Basin

2 years ago

11 June 2024

8:02 AM

Canada-headquartered oil and natural gas exploration player Sintana Energy has wrapped up its acquisition of a stake in Giraffe Energy Investments, which enabled it to get a hold of a new license in the Orange Basin off the coast of Namibia.

OPEC⁺ surprise triggered record hedge fund oil sales

2 years ago

11 June 2024

7:54 AM

Portfolio investors sold record volumes of petroleum last week after OPEC⁺ surprised the market by announcing plans to increase production starting from the fourth quarter of 2024.

Oil edges down as cautious investors await Fed meet, US CPI data

2 years ago

11 June 2024

7:45 AM

Brent crude futures fell 13 cents, or 0.16%, to $81.50 per barrel by 0613 GMT and U.S. West Texas Intermediate crude futures slipped 7 cents, or 0.04%, to $77.67.

India’s end-use energy consumption to grow 90% by 2050: Rosneft CEO

2 years ago

10 June 2024

7:57 AM

India's end-use energy consumption is set to grow by 90 per cent by 2050 -- one of the fastest growth rates in the world, Russian oil giant Rosneft CEO Igor Sechin said.

Oil nudges higher on hopes of summer fuel demand

2 years ago

10 June 2024

7:35 AM

Brent crude futures gained 15 cents, or 0.2%, to $79.77 a barrel by 0644 GMT and U.S. West Texas Intermediate crude futures was up 0.1%, or 10 cents, at $75.63 a barrel.

Calgary risks running out of water after massive line break

2 years ago

9 June 2024

9:33 AM

Residents of Calgary, the largest city in Canada's main oil-producing province of Alberta, face running out of water and need to urgently cut their use after a critical water main break, city officials said on Friday.

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Latest News of Oil, Gas and Petrochemical industry

INTERNATIONAL Feed Atom

INCREASING OIL AND GAS PRODUCTION AMONG TOP PRIORITY, SAYS INDIA’S PETROLEUM MINISTER

Canada oil and gas emissions cap likely to curtail production, report says

EU extends sanctions against Russia for another year

Oil steady as downbeat Chinese data offset demand hopes

India in talks with Norway’s Equinor for oil reserves and gas deal

India cuts windfall tax on petroleum crude

OPEC sees no peak oil demand long term, secretary general says

Oil prices set for best week in over 2 months on demand outlook

Canada, U.S. oil producers to break records through 2030: IEA

No major projects in India to turnaround faltering oil production: IEA

Oil softens on Fed rate decision, ample supply outlook

India’s oil minister to get second term in new government

Oil climbs on optimistic demand outlook

OPEC’s Oil Price Rises for 5 Days in A Row

Canadian oil & gas player comes into possession of more offshore acreage in Namibia’s Orange Basin

OPEC⁺ surprise triggered record hedge fund oil sales

Oil edges down as cautious investors await Fed meet, US CPI data

India’s end-use energy consumption to grow 90% by 2050: Rosneft CEO

Oil nudges higher on hopes of summer fuel demand

Calgary risks running out of water after massive line break