Page 5 - Oil Industry
Oil extends gains on OPEC+ supply discipline and demand prospects
NEW YORK (Reuters) - Oil rose more than 1% on Wednesday, supported by a decision by OPEC and its allies to stick to its plan to gradually restore supply, along with the slow pace of nuclear talks between Iran and the United States.
 "Oil extends gains on OPEC+ supply discipline and demand prospects")
OPEC wins, the West loses
Judges, investors force oil firms towards low-carbon future
 "OPEC wins, the West loses")
Next oil reserves plan by Sept, to see Rs 14K-crore investment: ISPRL
Request for proposal document awaiting Centre's nod
 "Next oil reserves plan by Sept, to see Rs 14K-crore investment: ISPRL")
This time is different: Outside OPEC, oil firms aren't raising production
Oil industry is on the ropes, constrained by Wall Street investors demanding that companies focus on returning more money to shareholders.
 "This time is different: Outside OPEC, oil firms aren't raising production")
India's oil industry struggles to predict demand recovery in pandemic
Diesel and gasoline, which account for more than half of oil consumption in India, are bearing the brunt of lockdowns.
 "India's oil industry struggles to predict demand recovery in pandemic")
O2C, Indian Oil Corp bag supplies in intense bidding for KG-D6 gas
RIL and its partner BP of the UK had offered 5.5 million standard cubic meters per day of additional gas in the auction for a flexible tenure of 3-5 years
 "O2C, Indian Oil Corp bag supplies in intense bidding for KG-D6 gas")
Saudi Aramco profit drops 44%, but $75-billion dividend survives
The dividend is a key source of cash for the kingdom, whose economy was hit after the virus hammered energy markets and shut down local businesses
 "Saudi Aramco profit drops 44%, but $75-billion dividend survives")
Oil industry seeks alliance with Farm Belt to fight Biden's EV agenda
While the oil industry and biofuels producers are natural competitors for space in America's gas tanks, they share a desire to ensure a future for internal combustion engines.
 "Oil industry seeks alliance with Farm Belt to fight Biden's EV agenda")
Oil refiners on the margin amid rising crude prices, muted demand
Indian majors have to balance between rising crude prices, muted demand and heavy central and state levies on retail prices
 "Oil refiners on the margin amid rising crude prices, muted demand")
Biden announces return to Paris climate accord, curbs on US oil industry
WASHINGTON (Reuters) - U.S. President Joe Biden on Wednesday announced America's return to the international Paris Agreement to fight climate change, the centerpiece of a raft of day-one executive orders aimed at restoring U.S. leadership in combating global warming.
 "Biden announces return to Paris climate accord, curbs on US oil industry")
BP gives Caribbean refinery more time to hit operating targets: Report
BP Plc has given the operator of a Caribbean refinery more time to fully restart and retain its crude oil supply agreement after the plant failed to hit operating targets last year, sources said
 "BP gives Caribbean refinery more time to hit operating targets: Report")
Abu Dhabi plans to spend $122 bn in oil & natural gas over the next 5 years
The Gulf emirate's top body for energy policy, the Supreme Petroleum Council, approved the budget for Abu Dhabi National Oil, state-run news agency WAM reported on Sunday
 "Abu Dhabi plans to spend $122 bn in oil & natural gas over the next 5 years")
China all set to eclipse US as world's biggest oil refiner by 2021: IEA
The Covid crisis has hastened a seismic shift in the global refining industry as demand for plastics and fuels grows in China and the rest of Asia
 "China all set to eclipse US as world's biggest oil refiner by 2021: IEA")
Oil prices slip as US inventory build stokes fears of supply glut
Crude inventories rose by 584,000 barrels in the week to Oct. 16 to 490.6 million barrels, data from industry group the American Petroleum Institute (API) showed
 "Oil prices slip as US inventory build stokes fears of supply glut")
Iraq flags oil project delays, sees recovery next year: Minister
"I think quarter two, 2021 will be more attractive to every aspect of our business," Ihsan Abdul Jabbar told the CWC Iraq Petroleum conference
As Exxon Mobil is removed from the Dow, is this the end for Big Oil?
It's not the first time that there's only been one oil and gas company in the Dow
 "As Exxon Mobil is removed from the Dow, is this the end for Big Oil?")
Mauritius spill to have an impact far beyond its size on the oil industry
Compared to the biggest oil spills from tankers hauling as much as 300,000 tons of crude across the world's oceans, the volume of oil that spilled from the Wakashio is a drop in the ocean
 "Mauritius spill to have an impact far beyond its size on the oil industry")
First Abu Dhabi Bank profit drops 25% on higher impairments charges
Banks in the region have been hit by the twin shock of the coronavirus pandemic and lower oil price
 "First Abu Dhabi Bank profit drops 25% on higher impairments charges")
Chevron to buy Noble Energy for nearly $5 billion in rare oil-bust deal
The deal will grow Chevron's shale presence in both the Permian Basin and the Denver-Julesburg Basin in Colorado.
 "Chevron to buy Noble Energy for nearly $5 billion in rare oil-bust deal")
Working to complete contours of Saudi Aramco deal, says Mukesh Ambani
The deal was to be concluded by March 2020 but has been delayed.
 "Working to complete contours of Saudi Aramco deal, says Mukesh Ambani")