The global airlines’ industry is projected to report a net profit of USD 35.5 billion in 2019, remaining profitable for the tenth straight year, helped by lower oil prices and solid economic growth, IATA said Wednesday. The grouping of around 290 airlines worldwide also said that the passenger numbers are expected to rise to 4.59 […]
Day: December 12, 2018
Gujarat refuses land transfer approval for central wind projects
Gujarat, which has been a leading state in generating renewable energy, is going slow in approving land transfer for wind projects auctioned by central agencies, and allowing the ones backed by its own utility, which makes it difficult to meet deadlines, developers said. This is because sites where wind speeds are good enough for projects […]
Iraq lifts oil production at Halfaya oilfield to 370,000 bpd
Iraq has increased production at its southern Halfaya oilfield by 100,000 barrels per day (bpd) to a total of 370,000 bpd, an oil official told Reuters on Wednesday. Halfaya, operated by PetroChina, is Maysan province’s largest field. Production rose after the completion of a new oil processing facility, Adnan Noshi, head of Maysan Oil Co […]
Oil prices climb on OPEC-led supply cuts, Asian stock rally
Oil prices rose by around 1 percent on Wednesday amid a stock market rebound and on expectations that an OPEC-led output cut for 2019 would stabilise the supply-demand balance. Disruptions to Libyan crude exports after local militia seized the country’s biggest oilfield, El Sharara, were also buoying prices, traders said. International Brent crude oil futures […]