Category Archives: News Intelegence
India’s oil boom: Growing into role as No. 1 in ...
A worker walks atop a tanker wagon to check the freight level at an oil terminal on the outskirts of Kolkata. India is moving into position to be the biggest driver of global oil demand growth, and it is seeking new investment in its own energy industry. India’s energy minister announced a new round of bidding for upstream and downstream investments on Monday. “We …
BHP Billiton, Pemex ink deal for Trion oil discovery o...
Australia based BHP Billiton and PEMEX Exploration & Production Mexico (Pemex) have agreed to jointly pursue deep-water Trión discovery, offshore Mexico. In December last year, the Australian firm had successfully bid to acquire 60% participating stake in and operatorship of the AE-0092 and AE-0093 blocks containing the Trion discovery in the Gulf of Mexico waters. The Mexico state-owned oil company, Pemex holds the remainder …
Oil settles at $48.04, down 20 cents, as US crude stoc...
Oil prices recouped much of their losses after sliding to almost four-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June. The U.S. Energy Information Administration (EIA) said U.S. inventories climbed by almost 5 million barrels to 533.1 million last week, far outpacing forecasts for an increase of 2.8 …
Oil slips, inventories curb recovery from four-month l...
Oil rose modestly on Friday in a spate of late-day activity, but fell on the week as concerns persisted over an excess of crude. U.S. West Texas Intermediate (WTI) crude futures CLc1 settled up 27 cents to $47.97 a barrel, but lost 0.5 percent on the week. About 390,000 WTI contracts had changed hands, lower than the average of about 520,000 over the …
Oil rises in late trade, still down on the week as glu...
Oil rose modestly on Friday in a spate of late-day activity, but fell on the week as concerns persisted over an excess of crude. U.S. West Texas Intermediate (WTI) crude futures CLc1 settled up 27 cents to $47.97 a barrel, but lost 0.5 percent on the week. About 390,000 WTI contracts had changed hands, lower than the average of about 520,000 over the last …
North Asian Oil, Gas Prices Set To Rise As Winter Is C...
[:en]An early winter spell in North Asia is expected to raise oil, gas, and coal demand for power plants and domestic heating, which means there are big chances that fossil fuel prices in the region would further increase, analysts believe. According to experts in commodity markets, the La Nina weather pattern – which results in colder than usual temperatures in the equatorial Pacific Ocean …
Oil Majors Stay Out Of India’s Small Fields Bidding Ro...
Global oil and gas giants such as BP, ExxonMobil and Chevron, as well as major Indian companies ONGC and Reliance Industries, have not submitted offers in India’s tender for developing small fields as the deadline for filing bids expired on Monday. According to data by the Ministry of Petroleum & Natural Gas, 34 out of a total 46 areas up for grabs received bids …