OPEC on Wednesday pointed to a small deficit in the oil market next year due to restraint by Saudi Arabia even before the latest supply pact with other producers takes effect, suggesting a tighter market than previously thought.
Asian 10ppm gasoil profit margin extended losses to reach $14.06 a barrel on Tuesday, lowest since Nov. 26 due to weak demand for the fuel.
Bharat Petroleum Corp Ltd is seeking a liquefied natural gas (LNG) cargo for delivery in mid-January, two industry sources said on Tuesday. The tender closes on Dec. 10 and is valid until Dec. 12, one of them said.
Executives at major state-run Indian companies voiced their opposition to government plans to privatise oil refiner Bharat Petroleum Corp Ltd in a statement released by industry bodies on Monday.
OPEC and allied oil producers’ plan to deepen cuts through the first quarter of next year will support the market only in the short-term, while Brent crude prices are likely to revert to $60 per barrel by mid-2020, Morgan Stanley said.
Explorers from the Rockefeller family’s Standard Oil Companystruck oil in Saudi Arabia in 1938. The venture became known asthe Arabia American Oil Company and crude oil production hit500,000 barrels per day in 1949.
Indian natural gas company H-Energy Pvt Ltd expects its liquefied natural gas (LNG) import terminal at Jaigarh to start operations in the first quarter of 2020, Rahul Tiwari, H-Energy’s senior LNG trader,told a conference on Thursday.
Asian spot prices for liquefied natural gas (LNG) slipped this week as new supply offers kept coming on the market amid subdued demand.
India’s federal pollution regulator has warned coal-fired power plants around New Delhi that they could be shut down for failing to comply with deadlines to meet emissions standards, according to sources and a letter reviewed by Reuters.
Thousands of employees across India on Thursday protested an upcoming stake sale at state owned refiner Bharat Petroleum Corporation Ltd (BPCL) , fearing loss of jobs and benefits.