Tag Archives: The News International (Newspaper)

Major oil producers are expected to stick to their current output strategy or even slash production further when they meet on Sunday in the face of falling prices, a potential Russian oil price cap and an embargo on Russian crude shipments. At their last ministerial session in October the 13-nation …

Ambassadors from the 27 EU countries are discussing the G7 proposal with the aim of reaching a common position by the end of the day. Views in the EU are split, with some pushing for a much lower price cap and other arguing for a higher one. The G7, including …

The OPEC+ oil cartel agreed on Monday to cut production for the first time in more than a year as it seeks to lift prices that have tumbled due to recession fears. The move could irk the United States as it has pressed the group to increase output in order …

Despite high international crude and POL prices, the country has imported record-high oil products and crude, both in volume and money terms, on the back of rising U.S dollar strength against the rupee and the government’s decision to raise local POL prices to revive stalled IMF’s program. Having a record …

Cash-strapped Sri Lanka took delivery on Saturday of Russian oil — which could soon be subject to a European embargo — to restart operations at the country´s only refinery, the energy minister said. The island nation is suffering its worst economic meltdown since independence, with shortages of fuel and other …

The International Energy Agency on Friday urged governments to urgently implement measures to cut global oil consumption within months following supply fears stemming from Russia´s invasion of Ukraine. The IEA also called on the OPEC+ group of oil-producing nations led by Saudi Arabia and Russia to help “relieve the strain” …

The International Energy Agency warned on Thursday the world oil market remains fragile, despite a recent recovery in prices, as tighter restrictions are imposed to curb more contagious coronavirus variants. At the same time, the IEA said the economic outlook was brighter overall, especially in the second half of this …

Members of the OPEC group of oil producers and their partners will meet via videoconference on Monday to decide on production levels for February, hoping to turn the corner on a difficult year. The OPEC+ ministerial meeting comes after oil consumption tanked in 2020 due to the Covid-19 pandemic and …

OPEC and its allies discussed weaker compliance with pledged oil output cuts on Monday and weighed further action to support the market as the second wave of coronavirus hits demand. The Organization of Petroleum Exporting Countries, Russia and others, known as OPEC+, were due to raise output by 2 million …

The government has geared up the process on two projects for turning Thar coal into gas and diesel and in is contact with two Chinese companies — China Ghazuba and China Coal, Special Assistant on Coordination of Marketing & Development of Mineral Resources Shahzad Syed Qasim disclosed this to The …