Page 42 - Crude Oil
Rajasthan: Cairn Vedanta makes oil discovery in OALP block in Barmer dist
Vedanta group firm Cairn Oil & Gas on Monday announced an oil discovery in a Barmer district block of Rajasthan, not very far away from its prolific oilfield in the same desert. In a stock exchange filing, the firm said it has notified the government and the Directorate General of Hydrocarbons (DGH) of the discovery in exploratory well WM-Basal DD Fan-1 drilled in OALP Block RJ-ONHP-2017/1. The discovery has been named 'Durga'. The firm said the approval of the block oversight panel, called the Management Committee, has also been sought. The block is one of the 41 areas that the company had won in the first round of the open acreage licensing policy (OALP) bid round in October 2018. Cairn Oil & Gas, a unit of Mumbai-listed Vedanta Ltd, holds 100 per cent participating interest in the block. "Durga-1 (earlier WM-Basal DD Fan-1) is the second well drilled in the Block RJ-ONHP-2017/1 to a depth of 2615 meters," the firm said. This is the third hydrocarbon discovery notified by ...
 "Rajasthan: Cairn Vedanta makes oil discovery in OALP block in Barmer dist")
Saudi's crude oil production exceeds 10 million bpd in Dec; exports dip
Exports fell slightly to 6.937 million bpd from 6.949 million bpd in November, according to monthly figures provided by Saudi Arabia and other oil-exporting countries to JODI
 "Saudi's crude oil production exceeds 10 million bpd in Dec; exports dip")
What does soaring crude oil price mean for the Indian economy?
Geopolitical tension in Eastern Europe has led to a jump in crude oil price, which is over $90 per barrel now. Some fear that it may touch the $100. What does it mean for the economy in India?
Oil prices remain steady after big drop in US crude inventories
Brent crude futures gained 49 cents, or 0.5%, to $91.27 a barrel by 1:41 p.m. EST (1841 GMT). U.S. West Texas Intermediate crude fell 1 cent to $89.35 a barrel
 "Oil prices remain steady after big drop in US crude inventories")
Statsguru: Six charts show recurring worries over rising crude oil
The share of OPEC in global oil production has been falling in recent times
 "Statsguru: Six charts show recurring worries over rising crude oil")
Crude oil tests $95 per barrel; Saudi Arabia increases oil prices
Other Asian grades jumped by between 40 and 70 cents a barrel. US prices were increased by 30 cents
 "Crude oil tests $95 per barrel; Saudi Arabia increases oil prices")
Oil dips from seven-year high as Russia tensions offset Fed tightening
Prices had surged on Wednesday, with Brent climbing above $90 a barrel for the first time in seven years amid tensions between Russia and the West.
 "Oil dips from seven-year high as Russia tensions offset Fed tightening")
Oil prices can hit $125 a barrel if Russia-Ukraine crisis worsens: Analysts
Though analysts believe diplomatic efforts will continue leading to a stabilisation and an eventual easing of these tensions, it may take several months for this to happen
 "Oil prices can hit $125 a barrel if Russia-Ukraine crisis worsens: Analysts")
India's high foreign exchange reserves not enough to shield rupee
A sharp rise in oil import bill has led to a big decline in forex reserves to imports in FY22
 "India's high foreign exchange reserves not enough to shield rupee")
Oil breaks $90/bbl for the first time since 2014 on Russia tensions
U.S. Secretary of State Tony Blinken said the United States will make sure global energy supplies are not interrupted if Russia takes action
 "Oil breaks $90/bbl for the first time since 2014 on Russia tensions")
Brent crude oil rallies towards $89 a barrel with focus on Ukraine
Wider markets also rallied on Wednesday, as this week's sell-off started to ease.
December crude oil imports at one-year peak amid strong demand prospects
Asia's third-biggest economy imports and exports refined fuels as it holds surplus refining capacity
 "December crude oil imports at one-year peak amid strong demand prospects")
South Korea and Saudi Arabia need crude oil but eye clean energy
A delegation led by South Korea's president visiting Saudi Arabia inked a preliminary deal to explore a project to develop a potentially cleaner form of energy
 "South Korea and Saudi Arabia need crude oil but eye clean energy")
Oil headed for a 4th straight weekly gain, longest streak since October
Brent crude futures rose $1.16, or 1.4 per cent, to a two-and-a-half month high of $85.63 a barrel at 1125 GM
China's crude oil imports for 2021 post first annual drop in 20 years
The drop compares with an average annual import growth rate of nearly 10% since 2015
Oil prices edge lower on profit-taking, interest rate hike worries
Oil prices typically move inversely to the U.S. dollar, with a stronger greenback making commodities more expensive for those holding other currencies
Crude oil prices shrug off Omicron variant slump, soar to 2-month highs
Federal Reserve Chairman Jerome Powell said the economy of the United States, the world's biggest oil consumer, should weather the current Covid-19 surge with only 'short-lived' impacts
 "Crude oil prices shrug off Omicron variant slump, soar to 2-month highs")
Oil gains before US stockpiles data as China tackles Omicron variant
West Texas Intermediate (WTI) added 0.9 per cent after capping a two-day drop
Crude oil prices hold near $80 after OPEC+ output hike decision
Brent crude futures were up 37 cents, or 0.46%, to $80.37 a barrel by 1210 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.38%, to $77.28
Mexico aims to suspend crude oil exports by 2023: State-owned Pemex
Mexico's state-owned oil company Petroleos Mexicanos (Pemex) is looking to suspend its crude exports by 2023 to allocate all of its output toward domestic consumption, CEO Octavio Romero has said.