Libya’s oil exports from the Mellitah terminal will be “modified” after protests disrupted production at the key El-Feel deposit for the first time in two months, putting the OPEC nation’s crude production at risk of a decline again.
The latest discussions between OPEC and its oil-producer allies concluded that the supply glut is dissipating at a faster pace than previously anticipated, say people familiar with the matter.
Prime Minister Narendra Modi on Sunday inaugurated the first phase of the Rs 7,900-crore fourth container terminal at Jawaharlal Nehru Port Trust that is expected to double its handling capacity.
Dubai Electricity & Water Authority will spend 81 billion dirhams ($22 billion) on energy projects over the next five years, with renewables accounting for a growing share of electricity output, Chief Executive Officer Saeed Mohammed Al Tayer said.
OPEC and its allies have almost achieved their goal of clearing an oil glut, but their efforts could be derailed by rising supplies from the U.S. and other rivals, the International Energy Agency said.
Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president.
State-owned gas utility GAIL India Ltd.’s quarterly profit fell but was largely in line with estimates.
U.S. oil explorers increased the number of drilling rigs this week by the most in a year as domestic crude production roared toward unprecedented highs.
JSW Energy Ltd. plans to launch its electric vehicle in the next three-four years and is looking at potential partners for it, company’s Managing Director and Chief Executive Officer Prashant Jain told BloombergQuint in an interaction.
Oil and Natural Gas Corp. is facing a delay of at least a year in starting production from its biggest project, according to people with knowledge of the matter.