Given its own economic conditions and plans for upcoming Saudi Aramco’s IPO next year Saudi Arabia cannot escape its role as swing producer, even though unwittingly.
The resilient U.S. shale output and sluggish demand from American drivers have kept U.S. stockpiles at historically high levels making efforts of OPEC and non-OPEC to cut oil production a futile exercise. These developments has forced experts to rethink about Saudi Arabia’s role as a ‘Swing Producer’ in rebalancing the oil markets. This article therefore explore the current oil market scenario alongside evaluating if actually Saudi Arabia has abandoned its role as a Swing Producer.
Oil India Limited (OIL), India’s second largest National Exploration & Production Company has recently bagged the Golden Peacock National Training Award 2017 and Golden Globe Tigers Award 2017 for industry excellence in Training.
After increasing the LPG coverage by oil marketing companies (OMCs) to 72.84 per cent in the last fiscal, the Petroleum Ministry plans to increase it to over 82 per cent by the current fiscal’s end and over 95 per cent by 2018-19, an official said on Monday.
Indian Oil Corp (IOC) has held preliminary discussions with Saudi Aramco on downstream investments in India including the mega refinery-petrochemical project in the country’s west coast, IOC’s chairman said on Monday.
Prime Minister Narendra Modi’s dream project- City Gas Distribution Project (CGD) as a part of Jamsehdpur-Haldia and Bokaro-Dharma Pipeline (JHBDPL) named Urja Ganga Project started taking shape in his parliamentary constituency Varanasi on Sunday
Praj Industries on Sunday announced the opening of India’s first integrated bio-refinery for renewable fuels and chemicals which will use a variety of agricultural residues to produce a variety of products.