The government has offered 15 blocks for extracting gas from coal seams (CBM) in the first bid round in more than a decade. The blocks are located in Maharashtra, Madhya Pradesh, West Bengal, Jharkhand, Odisha and Chhattisgarh, according to a notice inviting offers put out by the Directorate General of Hydrocarbons (DGH). Bids under the […]Continue Reading... No Comments.
Oil prices rose for a fourth day on Friday, taking Brent towards three-year highs, as investors focused on tighter supplies amid strong appetite for riskier assets like crude and high hopes for recovery from the pandemic. Brent crude was up 40 cents, or 0.5 per cent at $77.65 a barrel, by 0037 GMT, after touching […]Continue Reading... No Comments.
Prices for gas and electricity are soaring in Europe as winter approaches, forcing governments to react. Here is what’s behind the winter increase: – Why is gas so expensive? – European reference prices for natural gas have quadrupled in just six months, with the International Energy Agency (IEA) identifying a number of factors behind the […]Continue Reading... No Comments.
The chief executive of Malaysia’s state energy firm Petronas said on Tuesday that a gas price at $7-$8 per metric million British thermal units (mmBtU) could be a “sweet spot” for customers and allows investments to continue to happen. “Natural gas needs to be embraced as a transition fuel. A decarbonised future does not mean […]Continue Reading... No Comments.
Indian refiners’ crude oil throughput in August dipped to its lowest in 10 months due to ongoing maintenance activities at multiple refineries, government data showed on Wednesday. Refiners processed 4.36 million barrels per day (18.44 million tonnes) of crude oil last month, the lowest since October 2020 and about 4.8% lower than 4.58 million bpd […]Continue Reading... No Comments.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp (ONGC), has for the seventh time sought an extension to explore a Vietnamese oil block in the contested waters of the South China Sea. Officials said OVL has applied for a two-year extension to explore Block-128, the licence for which was valid till […]Continue Reading... No Comments.
Petrol prices in the country are not coming down as the states do not want to bring fuel under the ambit of the GST, Petroleum Minister Hardeep Singh Puri said. In an interview to PTI here, Puri said petrol prices crossed the Rs 100-mark in West Bengal as the TMC government is levying heavy taxes. […]Continue Reading... No Comments.
The International Energy Agency on Tuesday urged Russia to step up gas deliveries to Europe in anticipation of higher winter demand, as tight global supply pushes prices skywards. “Russia could do more to increase gas availability to Europe and ensure storage is filled to adequate levels in preparation for the coming winter,” the IEA said […]Continue Reading... No Comments.
Larsen & Toubro (L&T) on Tuesday said one of its wholly-owned arm has bagged two orders in the construction services segment — one each from GAIL India and Air Products Middle East Industrial Gases LLC. The company did not provide the value of the contracts, but said the orders fall under the ‘significant’ category, which […]Continue Reading... No Comments.
Royal Dutch Shell plans to start producing low-carbon jet fuel at scale by 2025, in an attempt to encourage the world’s airlines to reduce greenhouse gas emissions. Aviation, accounting for 3 per cent of the world’s carbon emissions, is considered one of the toughest sectors to tackle due to a lack of alternative technologies to […]Continue Reading... No Comments.