02 JAN – Hydrocarbon data mining: Petroleum Ministry for making NDR an ‘autonomous body’

  Given the need to accelerate hydrocarbon explorations in the country, the Ministry of Petroleum & Natural Gas is considering creating an autonomous body that will mine the data, which is the key for improving India’s strike rate in the sector.   “An institutionalised approach is needed to generate exploration data to significantly de-risk exploration…

17 DEC – Oil prices end higher on stimulus hopes, EIA supply decline, but demand outlook remains dim

  Oil futures turned slightly higher Wednesday, as hopes built for progress toward another economic relief package from Washington and data from the U.S. government revealed a weekly decline in crude inventories. The continued rollout of the U.S. COVID-19 vaccine to help restore economic growth also provided support, but recent forecasts for weaker demand limited…

17 DEC – China’s LNG imports could hit record high in Dec as demand bounces back

China’s LNG imports could hit record high in Dec as demand bounces backSINGAPORE/BEIJING: China’s liquefied natural gas (LNG) imports could hit a record in December on strong industrial demand and a continued gasification push, trade sources said. The world’s second largest LNG importer after Japan is on track to import its highest monthly volumes since…

17 DEC – World faces long-term oil supply gap despite COVID demand destruction

  World faces long-term oil supply gap despite COVID demand destructionLONDON – Inadequate investment in exploration and new drilling may leave the world without enough oil in 20 to 30 years despite a shift towards renewable power sources, top energy analysts say. The long-term outlook contrasts with today’s situation where plunging oil demand due to…