Search Results for: OPEC

Oil jumps to highest in more than a week after Libyan shutdowns

In the latest development in a long-running conflict in Libya, the National Oil Corporation (NOC) on Sunday said two big oilfields in the southwest had begun shutting down.

Jan 20, 2020

Oil hits three-month highs on upbeat US and Chinese economic data

Data on Friday showed profits at China's industrial firms rose at the fastest pace in eight months in November.

Dec 27, 2019

Make in India: Govt may halve domestic crude cess to push oil, gas exploration

Cess on domestic crude is currently levied at the rate of 20 per cent of the value of oil. This may come to 10 per cent.

Dec 25, 2019

Mukesh Ambani confirms India's economic slowdown temporary, reforms undertaken to reverse trend

Mukesh Ambani stated that the reforms undertaken by Prime Minister Narendra Modi's government since August will bear fruits in the next few quarters.

Oct 30, 2019

Can India defy US pressure and continue trade ties with Venezuela, Russia?

Finance Minister Sitharaman says India cannot sacrifice 'economic strength' and strategic interests to comply with US sanctions.

Oct 16, 2019

India's Nayara supplying fuel to Rosneft in exchange for Venezuelan oil: Report

The United States in January prohibited US-dollar transactions for oil sales from Venezuela's PDVSA or its units.

Oct 16, 2019

Fuel price set to spike as tension rises after Iran oil tanker hit in Red Sea

Iran suspects Saudi rocket attacks behind the fire that breaks out on the tanker laden with one million barrels of oil in the Red Sea off Jeddah; reports suggest the attack was in retaliation to Yemeni Houthi's drone strikes on Saudi Aramco oil installations.

Oct 11, 2019

Reliance to resume Venezuela oil loadings, says actions compliant to US sanctions

A spokesperson for Reliance said on Wednesday it has been supplying Venezuela with fuels, including diesel, permitted under US sanctions in exchange for the refined products.

Oct 10, 2019

OPEC crude output to average 29.6m barrels a day: EIA

In its October Short-Term Energy Outlook, EIA also forecast that annual average OPEC crude oil production will average 29.8 million b/d in 2019, down by 2.1 million b/d from 2018.

Oct 9, 2019

Biggest oil price surge since 1991 as locked and loaded US points finger at Iran for attack

The Iran-aligned Houthi movement that controls Yemen's capital claimed responsibility for the attack, which damaged the world's biggest crude oil processing plant.

Sep 16, 2019

Saudi Aramco keen to partner in mega West Coast Refinery project

In the wake of India's growing oil and energy needs, a mega refinery like the one on the west coast with an expected capacity of 60 mmtpa is vital.

Sep 13, 2019

Saudi Arabia's Energy Minister Khalid al-Falih

Opec Kingpin Saudi Arabia replaces energy minister in major shakeout

Since his appointment as oil minister in 2016, Falih has been the face of Saudi energy policy but the veteran technocrat had seen his portfolio shrink in recent weeks.

Sep 8, 2019

Saudi Arabia replaces Aramco chair with wealth fund chief ahead of IPO

The appointment of Al-Rumayyan, already an Aramco board member, comes as part of the Saudi authorities' preparations to sell shares in the world's biggest oil exporter.

Sep 3, 2019

Iran warns of 'strong step' away from nuclear deal if Europe cannot offer new terms

Iran's oil should be bought and its money should be accessible to return to the country, said Ali Rabiei, an Iranian government spokesman.

Sep 2, 2019

US-China trade war could trigger prolonged global recession this year

Is global economy slipping into a recession? Key indicators paint glum picture

Almost all main economic and industrial indicators that provide a reliable guide to the business cycle confirm the economy has already slowed severely.

Aug 8, 2019

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