Page 10 - Oil Production

Oil hovers above six-week low as China readies crude reserve release

Prices fell to the six-week lows early in the session as China said it was moving to tap reserves

ONGC must engage pvt sector to boost domestic output: Oil secy Tarun Kapoor

Wants the energy giant to increase area under exploration; options on the table include selling stake to private players, exploring partnerships

Oil prices gain after OPEC+ producers hold firm on supply

Brent crude rose 53 cents or 0.7% to $81.07 a barrel by around 0805 GMT, after falling nearly 2% on Thursday

Oil prices hit two-week low on Iran talks resuming, US crude build

Brent crude was $1.06, or 1.2%, lower at $83.52 a barrel by 12:31 p.m ET (1631 GMT), having hit a two-week low of $82.32 earlier in the session and falling 2.1% on Wednesday.

Oil edges up to new multi-year highs on global supply shortage

Brent futures rose 42 cents, or 0.5%, to $86.41 a barrel by 12:14 p.m. EDT (1614 GMT), while U.S. West Texas Intermediate (WTI) crude rose 95 cents, or 1.1%, to $84.71.

ExxonMobil and ONGC to extend partnership to Andaman offshore

Private refiners such as Reliance and Nayara Energy command over a third of India's total crude oil refining capacity

Oil rises above $85 a barrel, Brent set for seventh weekly gain

Brent crude futures rose 92 cents, or 1%, to $85.53 a barrel at 1335 GMT, after Thursday's three-year high of $86.10

Fossil fuel plans evade Paris limits, says UNEP report

Over the next two decades, governments are collectively projecting an increase in oil and gas production, and only a modest decrease in coal production

India's crude oil production falls 2.3% in August, gas output rises

India's crude oil production fell 2.3 per cent in August but natural gas output rose by more than a fifth on the back of output from KG-D6 fields of Reliance-BP

Oil slips but holds to most gains after draw in US stocks

Brent crude oil fell 13 cents, or 0.2%, to $75.33 a barrel by 0128 GMT, after settling up 2.5% the previous day.

Oil extends gains on worries of US supply disruptions from another storm

Brent crude rose 15 cents, or 0.2% to $73.66 a barrel by 0048 GTM, having gained 0.8% the previous day

Oil climbs to one-week high on US supply concerns, Brent crude up 0.7%

Brent crude rose 48 cents, or 0.7% to $73.40 a barrel, and U.S. West Texas Intermediate (WTI) crude also added 49 cents, or 0.7%, to $70.21 a barrel

Oil prices gain for second session as lower US output supports

Brent added 26 cents, or 0.36% to $72.86 a barrel at 0616 GMT and West Texas Intermediate (WTI) crude rose 12 cents, or 0.17%, to $69.42 a barrel.

OPEC+ sticks to agreed schedule for oil-production increases

Ministers ratified the 400,000 barrel-a-day supply hike scheduled for October after less than an hour of talks, one of the quickest meetings in recent memory

Oil prices edge lower as US pushes OPEC to boost crude output

Prices were also under pressure from concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries.

OPEC+ likely to keep oil output policy from Sept unchanged, say sources

OPEC+ is likely to keep its oil output policy unchanged when the group meets on Wednesday and continue with its planned modest production increase, three OPEC+ sources told Reuters

India's crude oil production continues to fall, dips 3.2% in July

India's crude oil production continued its declining trend, falling by over 3 per cent in July as state-owned ONGC produced less than the target. The country's crude oil production declined by 3.2 per cent in July to 2.5 million tonnes when compared with the previous year, and by 3.37 per cent in April-July to 9.9 million tonnes, according to data released by the Ministry of Petroleum and Natural Gas on Tuesday. Oil and Natural Gas Corporation (ONGC), the nation's largest oil and gas producer, produced 1.6 million tonnes of crude in July. This was 4.2 per cent lower than last year and 3.8 per cent less than the target of 1.7 million tonnes. During April-July, ONGC's oil output fell 4.8 per cent to 6.4 million tonnes. Natural gas production showed a contrasting trend. Helped by KG-D6 fields of Reliance-BP, gas production rose 18.36 per cent year-on-year to 2.9 billion cubic metres and by almost 20 per cent in April-July to 11 bcm. While gas production from ONGC's fields fell over 1

Oil rises but set for 5% weekly drop as Delta variant of Covid-19 spreads

Brent crude futures rose 24 cents or 0.4% to $66.69 a barrel at 0635 GMT, after dropping 2.6% on Thursday to its lowest close since May.

Oil drops towards $66, lowest since May on demand concerns amid Covid surge

Rising Covid cases fuel fears over slower demand; stronger dollar as Fed on track to taper this year weighs

ONGC seeks partners to raise production from 43 oil, gas fields

State-owned Oil and Natural Gas Corp (ONGC) on Thursday invited bids from private companies for handing over operations of 43 small and marginal oil and gas fields with a view to raising production.