Category: Oil & Gas

Washington: The Trump administration dealt its toughest blow yet to the authoritarian Venezuelan leader Nicolas Maduro, issuing new sanctions on the nations state-owned oil company PDVSA that effectively block his regime from exporting crude to the U.S.

Eni SpA and Austrian oil and gas producer OMV AG agreed to pay about $5.8 billion for a combined 35 percent stake in the Abu Dhabi state oil companys refining unit.

London: Oil prices rose by more than 1 percent on Wednesday, pushed up by a North Sea production outage and expectations in the market that OPEC will next week decide to implement some form of supply cut to counter an emerging glut. U.S. West Texas Intermediate (WTI) crude futures were at $52.36 per barrel at […]

Sydney: Oil prices steadied on Tuesday, edging up from a near two-week low in the previous session when prices fell around 3 percent on fears of supply growth and a global economic slowdown.

New Delhi: The Supreme Court on Monday said the Centre’s curative petition on revising the compensation from Union Carbide Corporation, a unit of US-based The Dow Chemical Co., for the 1984 Bhopal Gas Tragedy would be heard in April.

The oil market is gradually returning to balance as OPEC reins in output and the U.S. shale boom slows, according to executives gathered at Davos. Yet the risk of stalling growth in China continues to cloud the outlook.

New Delhi: Oil-to-telecom conglomerate Reliance Industries is evolving from an integrated energy company into a consumer giant like China’s Alibaba and potentially could rival likes of Amazon and Walmart, says a report Thursday.

DAVOS: When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics – climate change and pressure from investors.

A possible move by Donald Trump to hurt Venezuela’s oil industry could prove a shot in the arm for the Xi Jinping and Narendra Modi administrations.

AHMEDABAD: Gujarat may offer an additional 50% stake in Gujarat State Petroleum Corp. (GSPC) LNG Ltd to Adani Group, which already holds a 25% stake in the company, after Indian Oil Corp. Ltd decided to opt out of the race, said three state government officials close to the development, requesting anonymity.

Singapore: Oil prices rose on Friday as turmoil in Venezuela triggered concerns that its crude exports could soon be disrupted. Washington on Thursday signalled it could impose sanctions on Venezuela’s oil exports as Caracas descends further into political and economic turmoil.