Gas transportation utility GAIL proposed to roll out graded measures from April 20 to kick start work on crucial infrastructure projects to enable expansion of the gas based economy. The company said in a statement that it is in readiness to resume construction of various hydrocarbon infrastructure projects of national importance, post lifting of the […]
Category: Oil & Gas
Trucks carrying petroleum products allowed to operate
A meeting presided over by Jagatsinghpur district Collector SK Mohapatra took some important decisions regarding transportation of petroleum products during the lockdown period. IOCL, LPG Terminal Chief Manager AK Tripathy said since transportation of petroleum products has been interrupted due to the non-availability of the trucks despite the exemption during lockdown, the operation of food […]
Pradhan happy over crude shipping to Paradip
Union Petroleum Minister Dharmendra Pradhan on Tuesday held discussions with Roseneft CEO Igor Ivanovich Sechin through videoconference. He thanked Sechin for shipping crude oil to the Paradip Port for the first time, the MoU for which was signed between the (IOCL and the Roseneft in March. Pradhan also held discussions on the concerning scenario in […]
IEA sees record 2020 oil demand fall due to coronavirus
Global oil demand will fall by a record amount this year as lockdown measures introduced to curb the coronavirus outbreak bring the economy to a virtual halt, the International Energy Agency (IEA) said Wednesday. For 2020 overall, demand will fall by 9.3 million barrels per day (mbd), with April alone down 29 mbd from a […]
Oil prices fall after output-cutting deal
World oil prices dropped in volatile trade on Tuesday as traders shrugged off news that crude producers agreed to cut production over the weekend, traders said. Futures had earlier risen after US President Donald Trump indicated Monday that producers were considering cutting 20 million barrels per day — more than double the announced figure.At about […]
Top oil producers agree ‘historic’ cuts
Top oil-producing countries agreed on “historic” output cuts to prop up prices hammered by the coronavirus crisis and a Russia-Saudi price war, sending crude prices soaring on Monday. The US benchmark WTI climbed 7.7 per cent to $24.52 a barrel in early Asian trade while Brent was up 5.0 per cent at $33.08. OPEC producers […]
OPEC+ planning to cut production 20 mnbpd: Trump
Top global oil producers are considering cutting production by 20 million barrels per day under the terms of a deal to boost prices, US President Donald Trump said on Monday. Trump, who took credit for brokering the deal, said the agreement was bigger than expected and will help the energy industry recovery from the impact […]
99L Ujjwala women to benefit in State
About 99.42 lakh Prime Minister Ujjwala Yojana (PMUY) beneficiaries in the State would be benefitted as they would be supplied free LPG refills over a period of three months from April to June. Union Petroleum and Natural Gas Minister Dharmendra Pradhan announced free distribution of Ujjwala gas recently. This is part of the Union Government’s […]
Oil rallies as top producers agree massive output cuts
Oil prices rallied Monday after top producers agreed to slash output and shore up coronavirus-ravaged energy markets, but some analysts were concerned the cuts did not go far enough. US benchmark West Texas Intermediate was up 7.7 percent at USD 24.52 a barrel in Asian trade while Brent crude, the international benchmark, put on 5 […]
Global deal to cut oil output in sight after Mexico signs up
The OPEC oil cartel and nations, including Russia, have agreed to boost oil prices by cutting as much as 10 million barrels a day in production. Even more countries, including the US, were discussing Friday their own cuts in what would be an unprecedented global pact to stabilise the market. The agreement between OPEC and […]
Petrol pump operators seek financial help
Petrol pump operators on Friday said per pump sales have fallen to less than one-tenth, leading to heavy losses in establishment and employee cost due to the Coronavirus pandemic. The All India Petroleum Dealers Association (AIPDA), which claims to represent the bulk of about 64,000 petrol pump operators in the country, sought a financial relief […]
Petrol, diesel demand slumps 66 pc in April
India’s fuel consumption slumped by over 66 per cent in April as a nationwide lockdown halted economic activity and travel, which eviscerated demand. Petrol and diesel demand is down 66 per cent in April, while aviation turbine fuel (ATF) consumption has collapsed by 90 per cent as most airlines have stopped flying, industry officials said. […]