Oman, the leading Persian Gulf oil producer outside OPEC, pumped 6.6% more crude in the first six months compared with a year earlier as Royal Dutch Shell PLC’s local venture boosted output. For full story, click here
Prime Minister Manmohan Singh has agreed to inaugurate crude oil output at Cairn India’s prolific Rajasthan block this month, petroleum minister Murli Deora declared on Wednesday. For full story, click here
U.S. crude futures extended gains to trade firmly above $70 a barrel on Thursday, after a 1 percent surged a day earlier, as Asian stocks followed Wall Street higher, offsetting a larger-than-expected build in U.S. crude inventories. For full story, click here
China’s crude output edged down 0.3 percent in July from a year earlier, a slower dipped versus June. For full story, click here
India’s Chennai Petroleum Corp. has deferred its planned two-month shutdown of nearly a third of its 190,000 barrels-per-day Manali refinery in southern India by a month to meet local fuel demand. For full story, click here
India’s Chennai Petroleum Corp. has deferred its planned two-month shutdown of nearly a third of its 190,000 barrels-per-day Manali refinery in southern India by a month to meet local fuel demand. For full story, click here
Middle East crude oils surged on expectations of better refining profits after Saudi Arabia reduced its official selling prices. For full story, click here
The amount of crude oil being stored at sea has surged sharply over the last two weeks, particularly in the U.S. Gulf, due to a price incentive for oil companies to hold stocks on board vessels, traders and analysts said on Friday. Simon Chattrabhuti, head of tanker research with ICAP Shipping in London, stated: We [...]
Oil pulled back in Asia on Friday as regional stock markets eased and investors awaited a US report on unemployment which could give fresh clues on the health of the recession-hit economy. Victor Shum, senior principal at energy consultancy Purvin and Gertz in Singapore, stated: Oil is retreating a bit and that’s not surprising considering [...]
The government has nominated Indian Oil Corp,, Hindustan Petroleum Corp. and Mangalore Refinery and Petrochemicals for purchasing crude oil from Cairn India’s Rajasthan fields. For full story, click here
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