The beginning of summer may herald the end of a boom for the fuel that underpinned crude’s rally into a bull market last year.
Fuel smuggling is costing Libya about $750 million a year, the head of the country’s National Oil Corp. said.
OPEC and Russia will meet in Saudi Arabia this week after all but banishing a global oil glut. While looming political crises threaten to tighten supplies further, the group seems determined to keep its cuts in place.
Saudi Aramco, the world’s largest oil producer, will hold an equal stake in the planned $44-billion refinery-cum-petrochemical project in Maharashtra, Ram Gopal, director of refineries at Indian Oil said.
Oil’s rally to $70 a barrel is threatening to clip India’s economic wings at a time when Saudi Arabia is looking to join a $30 billion refinery project in the world’s fastest growing market.
Who needs power plant operators? Mitsubishi Hitachi Power Systems Ltd. broke ground last year on a hydrogen-fueled plant in Japan that will be run by artificial intelligence.
Imagine using light to connect to the internet. Crazy right? But that’s what Li-Fi is all about.
Oil & Natural Gas Corporation Ltd. is a better bet than Oil India Ltd. among state-run explorers as crude oil rises, CLSA said.
India needs $125-billion investments to more than double its renewable energy to the targeted 175 gigawatts in four years as the nation looks to move to cleaner energy.
Reliance Industries Ltd. and BP Plc will start natural gas production from R-Series gas field in the flagging KG-D6 block in the Bay of Bengal by 2020, the U.K. firm said today.