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Oil & Gas
L&T Wins 'Large' Contract from Indian Oil for Capacity Expansion at Barauni Refinery
It has won a "big" contract from the Indian Oil Corporation to expand capacity at the IOC's Barauni refinery in bihar.
Oil & Gas
Trump: Free Markets Will Determine U.S. Oil Production
U.S. President Trump believes local oil production output cuts will happen automatically thanks to the nature of the free market, he told reporters this week.
Oil & Gas
The World’s Biggest Oil Deal Can’t Save Crude Prices
G20 countries are set to send their oil minister for an emergency meeting on Friday, a sign that there is a chance that OPEC and Russia can pull in other oil-pr
Oil & Gas
OPEC’s Plan To Take Over The Global Oil Industry
The first three months of 2020 have shocked the global energy market to its foundations.
Oil & Gas
OPEC+ Debates Biggest-Ever Oil cut, Awaits U.S. Efforts
Russian Energy Minister Alexander Novak told Russian state media that he understands the United States has legal restrictions on output cuts, but it should sti
Oil & Gas
Fuel Consumption Sees Drastic Drop
Despite petrol bunks having remained open during the lockdown period, the consumption of diesel and petrol has come down drastically.
Oil & Gas
BP Reduces Investment Plan by 25% in 2020 to US$12bn
BP has cut its 2020 spending plan by a quarter, from US$15bn to US$12bn, including a US$1bn reduction investment in short-cycle onshore activity.
Oil & Gas
Trump Says world’s Biggest Oil Producers to Meet on Market Crash
President Donald Trump said the US would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices.
Oil & Gas
How Russia Is Shedding Its Venezuelan Assets
Russia has set up a wholly state-owned oil company named Roszarubezhneft after Rosneft announced it would exit Venezuela and ditch its Venezuelan assets to a ne
Oil & Gas
Russia's Largest Oil Producer Halts Operations In Venezuela
Russia’s largest oil producer, Rosneft, has announced that it is halting operations in Venezuela and selling its assets there to a company fully owned by the R
Oil & Gas
US Suspends Plans to Buy Crude Oil for the Strategic Petroleum Reserve
The US administration has suspended plans to purchase US crude oil for the Strategic Petroleum Reserve (SPR), after failing to secure funding from the Congress,
Oil & Gas
World’s Largest Oil Trader Says Demand Could Plummet By 20 Million Bpd
A dramatic change in oil demand coupled with an unexpected increase in production has upended the industry, Vitol’s chief executive Russell Hardy told Bloomber
Oil & Gas
Global Oil Demand Forecast to Fall by 4.9 Million Barrels Per Day in 2020: Rystad
Global oil demand could fall by as much as 4.9 million barrels per day (bpd), or by about 4.9 per cent, in 2020 due to the coronavirus outbreak, Norway's bigges
Oil & Gas
Thai Oil Refiners Cut Output as Fuel Demand Falls: Sources
Thailand is one of the largest oil refining centers in southeast Asia.
Oil & Gas
Oil Ekes Out Gains as U.S. Stimulus Hopes Lift Global Markets
Oil prices extended gains for a third session on Wednesday, rising alongside broader financial markets on hopes Washington will soon approve a massive aid packa
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