Iranian Oil Minister Bijan Namdar Zanganeh on Wednesday claimed two neighbouring countries were “exaggerating” their production capacity to reassure markets after the US ended sanction waivers for buyers of Iranian crude. Zanganeh also said Washington’s stated aim to bring Iran’s oil exports
U.S. crude oil production fell 187,000 barrels per day in February to 11.7 million bpd as output dropped in the Gulf of Mexico and key on-shore oil producing states including Oklahoma and North Dakota, according to U.S. government data on Tuesday.
President Nicolas Maduro is funnelling cashflow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters.
At least five companies are interested in six fracking blocs in Colombia, and use of the technique could nearly triple the country’s reserves of crude and gas, the energy minister said.
After the U.S. slapped sanctions on Venezuela’s state-owned PDVSA, which essentially add up to an oil ban, the market has focused on how the remaining buyers of the South American country’s heavy, low-quality crude will react.
Expressing dissent over Ministry of Road Transport and Highways (MoRTH) type approval norm, Indian Auto LPG Coalition (IAC) in a press statement said that the norms are acting as a huge barrier the retro-fitment market in India and needs immediate modification.
The eastern metropolis is likely to get Compressed Natural Gas (CNG) by end of this year, which would facilitate vehicles running on greener fuel, an official said on Tuesday.
India’s diesel demand is likely to double to 163 million tonne (MT) in 12 years as consumption rises in the world’s fastest-growing economy, Oil Minister Dharmendra Pradhan said Monday.
For the Indian oil and gas sector, the year was defined by what occured outside with crude oil prices rising steadily to cross $86 a barrel owing to oil producers starting output cuts from January, before a sharp correction in the third quarter brought
Domestic fuel prices declined for the second consecutive day with petrol prices falling around 20 paise in the four metropolitan cities. In the national capital, petrol was sold at Rs 70.07, down from Rs 70.27 per litre on Saturday,