Page 2 - Oil industry

Russian oil logistics in chaos with weeks until EU sanctions bite

With about six weeks until the bloc's measures enter into force, little clarity exists on whether these steps will really suffice to help Russia to get much of its output to fend off a supply shock

Oil rises on tight supplies, possibility of China easing Covid curbs

Oil prices rose by more than $1 on Thursday in response to tighter supplies and on news that China is considering a cut in the duration of quarantine

India to soon sign long-term deal to export oil from Namibia: Report

Recently, IOC signed a deal to procure oil from Colombia's Ecopetrol SA and Brazil's Petroleo Brasileiro SA (Petrobras)

Fears of fuel shortage grow in France amid strikes over wages at refineries

Strikes in France's major refineries continued, leading fears over fuel shortage across the country

Biden asks oil industry not to raise prices as hurricane Ian nears

President Joe Biden on Wednesday warned oil and gas companies against increasing prices for consumers as Hurricane Ian neared landfall along Florida's southwest coast. Do not, let me repeat, do not use this as an excuse to raise gasoline prices or gouge the American people, Biden said at the start of a conference on hunger in America. Biden said that the hurricane provides no excuse for price increases at the pump and if it happens, he will ask federal officials to determine whether price gauging is going on. America is watching. The industry should do the right thing, Biden added. There are few signs that average gas prices have jumped significantly in Florida as the hurricane began to approach. AAA put the statewide average at just under $3.40 a gallon, six-tenths of a cent higher than a week ago. A 99-day run of falling pump prices nationally ended recently, and the 14-week decline was the longest streak since 2015. The nationwide average price had risen past $5 a gallon and $

Despite windfall tax, ONGC, Oil India's earnings look positive for FY23

With diverse revenue streams RIL is less impacted, while oil marketing companies have seen earnings downgrades amidst volatility in oil prices

OPEC secretary-general Mohammad Barkindo dies, just weeks shy of departure

The Secretary-General of the Organization of Petroleum Exporting Countries has died, Nigerian authorities and the oil cartel announced Wednesday.

Edible oil prices will soften by Rs 15/litre in a few weeks: Industry

Decision arrived at today during a meeting between industry players & officials

What is fracking and what makes it controversial?

Soaring energy prices are spooking the markets and nudging countries into looking for more oil reserves. Fracking is one of the ways to extract gas and oil. What it is and why it is controversial?

A third of commodity-hungry companies have no deforestation policy: Report

Protecting the world's forests is central to efforts to limit man-made global warming by mid-century.

Oil prices slide as rapid Omicron spread dims fuel demand outlook

The oil and gas rig count, an early indicator of future output, rose by three to 579 in the week to December 17, representing its highest since April 2020

India offers eight oil and gas blocks for bidding in latest round

Eight blocks have been offered in the seventh bid round of Open Acreage Licensing Policy (OALP), with bids due on February 15, 2022, the Directorate General of Hydrocarbons (DGH) said

Oil hits multi-year high above $86 due to tight supply, then pulls back

Brent crude rose as high as $86.10, the highest since October 2018, but by 0815 GMT was down 79 cents, or 0.9%, to $85.03.

$86 bn of takeovers, but big oil's merger mania has an eye on its demise

Deal activity doesn't suggest an industry gearing up for a rally in demand.

Oil prices edge higher on inventory drawdowns, Brent tops $75 a barrel

Oil prices rose on Thursday as crude stockpiles in the United States, the world's top oil consumer, fell to their lowest since January 2020

New fuel retail outlets may rely on public sector OMCs to build networks

These companies are banking on rising fuel demand predicated on growing vehicle ownership and rising mobility

India in talks with Russia for $2-3 bn investment in upstream oil assets

Tie-ups in Arctic projects also being evaluated

ONGC's existential problem: India's exploration conglomerate running empty

India's dependence on imported oil and gas is rising steadily but the country's premier exploration conglomerate is running on empty

Tata vs Reliance: A two-front battle -- renewable energy and retail

Their renewable energy and retail plans offer contrasting strategies; if they pan out, the consumer is the guaranteed winner

OPEC oil alliance in standoff between Saudi Arabia and UAE

The OPEC oil cartel led by Saudi Arabia and other allied producing countries resumed talks on Monday amid a standoff with the United Arab Emirates