Page 17 - Oil And Gas

Saudi, United Arab Emirates reach compromise to unlock oil supply

Brent oil prices fell on the news by as much as $1 per barrel towards $75 per barrel after Reuters reported the two major Opec producers had agreed a deal.

Increasing dependence on natural gas comes with supply challenges for India

Dwindling gas reserves and higher demand can put further strain

'Centre earned Rs 4.9-trn revenue as fuel prices hiked 69 times this year'

Congress leader in Lok Sabha, Adhir Ranjan Chowdhury, made the claim

Petrol crosses Rs 100-mark in Uttar Pradesh, Chhattisgarh, Nagaland

Petrol price was hiked by 35 paise per litre and diesel by 26 paise, according to a price notification of state-owned fuel retailers.

Consumers may get respite from frequent fuel price hike this month

Oil marketing companies kept the retail price of petrol and diesel unchanged on Friday

Oil rises to $75 after tumble but OPEC+ uncertainty clouds outlook

A failure of OPEC+ talks on Monday means a planned output rise for August has yet to be agreed

Global stock markets fall after stalemate in OPEC talks, US holiday

Global shares were mostly lower Tuesday as oil prices surged after a meeting of oil producing nations was postponed, with little else guiding trading after the US Independence Day holiday. France's CAC 40 dropped 0.5% in early trading to 6,534.23, while Germany's DAX lost 0.6% to 15,561.04. Britain's FTSE 100 edged down 0.2% to 7,153.81. The future for the Dow industrials inching less than 0.1% lower to 34,663.00. The S&P 500 future lost 0.1% to 4,339.88. Talks among members of the OPEC cartel and allied oil producing countries have broken off in the midst of a standoff with the United Arab Emirates over production levels. No debt has been set for the next meeting. US benchmark crude rose $1.28 to $76.43 a barrel. Brent crude, the international standard, added 24 cents to $77.40 per barrel. With oil prices pushing toward $80 a barrel, that raises the risk of a price war if the conflict escalates, like in March last year, Harpreet Bhal of ActivTrades said in a commentary. Higher ..

Petrol nears Rs 100 in national capital after yet another price hike

In Delhi, the petrol price soared to Rs 99.86 per litre. Diesel rates were unchanged at Rs 89.36.

Domestic gas price to be raised by 60% from Oct: ONGC's Subhash Kumar

This will offer relief to exploration companies that have found it hard to sustain profitability in the face of low domestic price

Why PM's goal on raising oil and gas production will be unattained in 2022

Modi aimed at lowering it by at least 10 per cent by 2022 - to coincide with the platinum jubilee of India's independence

Crude oil prices inch up ahead of OPEC+ decision on supply cuts

Brent crude for September gained 15 cents, or 0.2%, to $74.77 a barrel by 0629 GMT

OPEC+ panel sees risk of oil market imbalance after April 2022 -report

The panel, known as the Joint Technical Committee, sees an overhang of crude by the end of 2022 under different scenarios looking at supply and demand in the oil market, the report showed.

OVL on an oil slick, struggles with geopolitical and domestic challenges

Covid-19 has added to these issues. It has not only impacted the demand for fuel but also made the acquisition process slower.

RIL reinvents, again

The scale of its green energy debut is stunning

RIL to invest Rs 75,000 cr in clean energy, build 4 giga factories: Ambani

It will also set up a platform for renewable energy project finance to source long-term global capital for investment in these sectors

India presses OPEC for affordable oil, phasing out of production cuts

As a result, OPEC's share in India's oil imports has dropped to about 60 per cent in May from 74 per cent in the previous month

Reliance to conclude Aramco deal this year; Aramco rep on co board

Ambani said RIL is looking forward to "welcoming Saudi Aramco as a strategic partner in our O2C business".

Gas infrastructure across Europe leaking planet-warming methane - video

The EU is proposing laws this year that will force oil and gas companies to monitor and report methane emissions, as well as improve the detection and repair of leaks.

India's crude oil output slips 6.3% in May, gas production jumps

Crude oil production at 2.43 million tonne in May was 6.32 per cent lower than 2.6 million tonne output in the same month last year

Oil prices fall amid dollar strength; demand picture still bullish

Brent crude futures were down 52 cents, or 0.7%, at $72.56 a barrel as of 1100 GMT