High Representative of the European Union (EU) for Foreign Affairs and Security Policy Josep Borrell has said he was deeply concerned over the growing use of sanctions, or the threat of sanctions, by the US against European companies and interests. “We have witnessed this developing trend in the cases of Iran, Cuba, the International Criminal…
The Organization of the Petroleum Exporting Countries and other nations agreed during a video conference last week to ease up on cuts. Ministers from the OPEC cartel have agreed to allow more oil to flow from the taps, saying demand for oil is growing as economies take steps to reopen. But they also cautioned that…
While massive effort is on to douse the roaring fire and cap the gas well head at Baghjan by Oil India Limited, Prime Minister Narendra Modi today took a stock of the progress in this regard and also expressed his concern towards its affected people. Prime Minister Modi had a conversation with Assam Chief Minister,…
India’s quest for building its energy security may see it continue to pursue investment opportunity in Farzad-B gas field in Iran even though ONGC Videsh Ltd (OVL) may not get to develop the block that it discovered over a decade ago. Highly placed sources in the oil ministry said that Indian consortium including Indian Oil,…
The privatisation of BPCL is expected to benefit from the growing forebodings among oil multinationals about investment in China in the wake of its failings to disclose the coronavirus pandemic. Besides, the fuel market in the country — India is the world’s third largest consumer — is a big attraction that should ensure aggressive bidding…
NGT asks CPCB to ensure states, UTs ban use of petcoke, furnace oilNew Delhi: The National Green Tribunal (NGT) has asked the Central Pollution Control Board (CPCB) to ensure that states and Union Territories (UTs) ban the use of petcoke and furnace oil as fuel to prevent damage to the environment and public health. A…
India and the US have marked an MoU to build up a key oil bank and the two nations are in the cutting edge phase of conversation to store crude petroleum in America to expand India’s reserve, Union Minister of Petroleum and Natural Gas Dharmendra Pradhan said on Friday. Pradhan co-led with his American partner…
Crude oil futures eased to Rs 2,998 per barrel on July 7 as participants increased their short positions. The black gold pared morning gain on concerns of increasing coronavirus cases worldwide. Tapan Patel, Senior Analyst (Commodities), HDFC Securities, said crude oil prices traded weak on concerns over demand growth on record virus cases. “The recent…
Oil prices fall Tuesday on concerns about the return of restrictive measures in a number of countries due to renewed rise in the incidence of coronavirus infection. The cost of the September futures for Brent crude on the London ICE Futures exchange to 14:29 GMT on Tuesday is $42,71 per barrel, or $0.39 (0.9 per…
SINGAPORE: Taiwan’s gasoline exports this year are expected to fall by 50 per cent versus 2019 as its two refiners scale back supplies to combat slow demand, a move that could help keep excess supplies down, industry sources said. Taiwan is the fourth-largest gasoline exporter after China, India and South Korea, and a reduction in…
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