India’s Finance Commission has told the power ministry that its proposal to award utilities 835 billion rupees ($11.6 billion) in incentives to install equipment to curb emissions is “unviable,” a senior official at the ministry told Reuters on Tuesday.
U.S. shale oil supply growth could slow down next year, OPEC’s secretary general said on Wednesday in his latest indication that the oil market in 2020 could surprise to the upside.
India’s diesel demand is expected to recover in the next six months as a longer-than-usual monsoon season that affected transportation and industry has ended, the chairman of top domestic refiner Indian Oil Corp (IOC) said on Monday.
Climate change will impact assets stretching from U.S. municipal bonds to renewable energy stocks in India, adding another layer of volatility to global financial markets in 2020, according to speakers at the Reuters Global Investment Outlook 2020 Summit in New York this week.
Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.
India has received 8 bids for 7 onshore oil and gas exploration blocks under the latest auction, a government statement said
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman met with Indian Prime Minister Narendra Modi, and discussed partnerships between their countries, Saudi state news agency SPA said on Tuesday.
Oil prices were steady on Monday, holding on to strong gains last week, after Russia affirmed its commitment to a deal with OPEC producers to keep production in check and support prices.
India hopes to sign a pact with Saudi Arabia for participation in Delhi’s strategic petroleum reserves (SPRs) during Prime Minister Narendra Modi’s visit to the kingdom next week, a government official said on Thursday. India, the world’s third biggest oil importer
Oil slipped on Wednesday after U.S. industry data showed a bigger-than-expected build in crude stockpiles, but possible deeper production cuts coming from OPEC and its allies prevented a further slide in prices.