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Reuters cited United Arab Emirates Energy Minister Suhail al-Mazroui as saying that the current rise in oil prices is backed by strong demand growth and a fall in oversupply on the back of the OPEC-led supply cut pact.

Posted By : Rabi Wangkhem 8 hours 46 minutes ago
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Xinhua reported that two leading Chinese companies recently held a groundbreaking ceremony to start the construction of a sub-sea pipeline installation for Dangote Oil Refining Company Limited in Lagos, Nigeria's...

Posted By : Rabi Wangkhem 8 hours 48 minutes ago
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The China Daily reported that a subsidiary of China National Petroleum Corp (CNPC), the country's largest oil producer, is looking for new sources of natural gas in Myanmar to feed a pipeline between the two nations.

Posted By : Rabi Wangkhem 8 hours 51 minutes ago
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According to the annual survey of energy professionals conducted by Reuters, oil prices are expected to remain close to current levels, averaging around $60 to USD 70 per barrel through the end of the decade.

Posted By : Rabi Wangkhem 8 hours 53 minutes ago
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Reuters cited Iraqi Oil Minister Mr Jabar al-Luaibi said that the OPEC member's oil output capacity is nearing 5 million barrels per day, but the country will remain in full compliance with its output target under a...

Posted By : Rabi Wangkhem 8 hours 55 minutes ago
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PTI cited Union Petroleum Minister Mr Dharmendra Pradhan as saying that India needs to increase its refining capacity to 600 million metric tonnes (MMT) by 2040 to meet the rising demand for fuel.

Posted By : Rabi Wangkhem 8 hours 57 minutes ago
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Reuters reported that US energy companies added 10 oil rigs this week, the biggest increase since June, as crude prices rose to their highest levels in three years, prompting drillers to return to the well pad.

Posted By : Rabi Wangkhem 8 hours 59 minutes ago
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A senior OPEC source familiar with Gulf oil thinking said that Gulf OPEC producers plan to keep their oil output in the Q1 of 2018 below the year-earlier level despite strong demand growth and a decline in global...

Posted By : Rabi Wangkhem 9 hours ago
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PTI reported that Vedanta's oil and gas vertical Cairn India is planning to invest INR 37,000 crore to ramp up crude production at its Barmer oil fields in Rajasthan.

Posted By : Rabi Wangkhem 9 hours 2 minutes ago
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Reuters reported that Seaborne exports of Russia’s flagship Urals crude will fall in 2018 to their lowest since the early 2000s as Moscow diverts oil from the West to East and boosts supplies to China, plans by...

Posted By : Rabi Wangkhem 9 hours 3 minutes ago
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