September 16, 2020 - Petroleumbazaar

Oil inches lower as bleaker demand outlook weighs

CRUDE OIL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-TOKYO: Oil prices inched lower on Tuesday as a bleaker outlook for global fuel demand prompted fresh selling, but short-covering ahead of a meeting later this week of OPEC and its allies, known as OPEC+, limited losses. Brent crude was down 3 cents, or 0.1 per cent, at $39.58 a barrel by 0102…

Oil price inches lower as bleaker demand outlook weighs

CRUDE OIL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-of OPEC and its allies, known as OPEC+, limited losses. Brent crude was down 3 cents, or 0.1%, at $39.58 a barrel by 0102 GMT, reversing earlier gains. U.S. West Texas Intermediate (WTI) crude futures were down 2 cents, or 0.1%, at $37.24 a barrel. Both contracts ended slightly lower the previous day.…

US shale oil output to drop 68,000 bpd to 7.64 million bpd in October: EIA

INTERNATIONAL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-NEW YORK: US oil output from seven major shale formations is expected to decline by about 68,000 barrels per day (bpd) in October to 7.64 million bpd, the US Energy Information Administration (EIA) said in its monthly productivity report on Monday.That would be the first decline in production since May, according to revised…

Another OPEC Giant Is Sending Crude Oil Prices Lower

INTERNATIONAL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-Crude oil prices are falling again, on word of OPEC member Libya’s plan to reopen its oil ports as soon as this coming weekend. As of this writing late on Monday afternoon, Texas Intermediate (WTI) and Brent crude futures are lower, with WTI October deliveries down to $37.26 per barrel, while Brent November…

China’s Oil Demand Recovery May Be More Impressive Than Thought

INTERNATIONAL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-China has supported oil markets with its purchases of record volumes of crude oil in recent months, but it has also imported doubled volumes of fuel blending products, suggesting that the fuel demand recovery in the world’s top oil importer may be more impressive than expected, its top refiner Sinopec said on Tuesday.…

Israeli regulator approves Chevron takeover of Noble’s gas fields

EXPLORATION NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-JERUSALEM: Israel’s Petroleum Council gave its approval on Monday for Chevron Corp to take over Noble Energy’s stakes in Israeli natural gas fields, which are a key component in Chevron’s $5 billion acquisition. Chevron agreed in July to buy the Texas-based oil and gas producer, which operates two large offshore gas fields in…

Cairn stuck with temporary operational extension for its Barmer oil & gas block

EXPLORATION NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-Country’s most prolific Barmer oilfield operated by billionaire Anil Agarwal-led Cairn Oil and Gas has been reduced to operate on temporary permission from the government which has denied full 10-year extension to the company’s production sharing contract claiming higher share of profit petroleum. After prolonged delays, the government had in October 2018 agreed…

India to be largest source of energy demand growth: BP Energy Outlook

NATIONAL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-New Delhi: India will be the largest source of demand growth for energy by 2050, supermajor BP Plc said on Monday, as it saw an end to the relentless growth of oil globally. In its annual Energy Outlook 2020, BP said global oil consumption may never return to levels seen before the coronavirus…

NGT directs state PCBs to ensure scientific disposal of hazardous waste by oil refineries

NATIONAL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-New Delhi: The National Green Tribunal Tuesday directed the state pollution control boards to ensure scientific disposal of hazardous waste by oil refineries. A bench headed by NGT Chairperson Justice Adarsh Kumar Goel noted that disposal method and quantity is not defined clearly about a category of spent catalysts (Oxide), which is a…

World’s first CNG terminal to come up in Gujarat’s Bhavnagar

NATIONAL NEWSBy admin September 16, 2020 Leave a comment

16 Sept 2020-Gandhinagar: The Gujarat Chief Minister Vijay Rupani on Tuesday said Bhavnagar will become the first Compressed Natural Gas (CNG) terminal in the world, as the government has given its sanction to the Rs 1,900 crore brownfield project.The terminal will have a capacity of 15 lakh tons annually. He said the state government has…

Daily Archives: September 16, 2020