Tag Archives: Oil Price

Indian refiners are expected to raise their total refining capacity by up to 800,000 barrels per day (bpd) by the end of the fiscal 2030 year, to meet domestic fuel demand growth, Crisil Ratings said on Friday. In the decade to fiscal year 2024, India’s refining capacity increased by 42 …

The total number of active drilling rigs for oil and gas in the United States fell this week, according to new data that Baker Hughes published on Friday. The total rig count fell by 1 this week to 587, compared to 623 rigs this same time last year. The number …

The OPEC oil cartel and the IEA, the International Energy Agency created in response to the Arab oil embargo in the 1970s, have grown so far apart in their forecasts of global oil demand and energy system needs that their nearest-term and long-term demand projections are a world apart. OPEC …

TotalEnergies on Friday announced a deal to buy a 45% stake in dry gas-producing assets owned and operated by Lewis Energy Group in the Eagle Ford basin in Texas, growing its gas production business and boosting its LNG portfolio. The assets that TotalEnergies is buying are located in Southwest Texas …

Despite recent rumors, sources within OPEC+ have confirmed there’s no specific price target for crude oil, including the oft-discussed $100 per barrel. This comes in response to speculation that Saudi Arabia, a key player in the group, may allow lower prices to reclaim market share by boosting production. Anonymous OPEC+ …

Germany, the European Union’s biggest economy, is also the most vocal advocate of a transition away from oil and gas. Despite this policy, Germany is one of the biggest importers of liquefied natural gas. Now, it also wants to significantly boost its crude oil imports—from Kazakhstan. Media reported this week …

India will not buy liquefied natural gas from the sanctioned Russian project Arctic LNG 2, India’s Oil Secretary Pankaj Jain said on Friday. “We will not buy (supply from) Arctic LNG 2. We are not buying any sanctioned commodity. Something which has broad-based sanctions, we are not touching it,” the …

Turkmenistan’s hopes of arranging a swap deal to carry the first small volumes of its gas to Turkey, and possibly on to Europe, have been dealt a blow, as Ankara has inked its third long-term LNG purchase agreement in five months. September 18 saw Turkey’s state gas importer Botas agree …

As if the EV boom needed another nail its in coffin, the UK has now produced figures showing that driving and electric vehicle is “up to twice as expensive” as driving a regular gas powered car. Data from the app ZapMap has confirmed that operating an electric vehicle (EV) can …

Central Asian countries are taking steps to broaden relations with their southern neighbor, the Taliban-led Afghanistan, despite the hard-line group’s increasingly restrictive policies, particularly toward women. Kyrgyzstan removed the Taliban from its list of terrorist organizations earlier this month, Turkmenistan resumed work with Afghanistan on a major gas-pipeline project, and …