Page 3 - Crude Oil Production

India's crude oil output drops 5%, gas production falls 8%: Govt data

Private and public sector firms produced less

Oil price rebounds on robust economic data from US, China, bargain hunting

Oil prices rose supported by strong economic data from China and the US, recouping some of the losses from the previous session due to rising OPEC+ supply and infections in India and parts of Europe

OPEC and allies agree to gradually boost crude oil output from May to July

The OPEC oil cartel and allied countries said that they have decided to add gradually add back some 2 million barrels per barrel per day of oil production from May to July

Will wrap up expansion this month: Cairn Oil & Gas Deputy CEO Prachur Sah

Currently, Cairn Oil & Gas is driving production from the Rajasthan asset and the offshore asset

Oil mixed, US crude hits highest since 2019 as refineries restart

Brent futures for April delivery fell 16 cents, or 0.2%, to settle at $66.88 a barrel. The April Brent contract expires on Friday

Oiling the recovery

Private players struggle against excessive regulation. The result is loss of investment and employment opportunities in India

Oil prices move up towards $50/bbl after OPEC+ supply compromise

OPEC+ had been expected to continue existing cuts until at least March, after backing down from plans to raise output by 2 million bpd.

OPEC+ agrees to raise oil output by 500,000 bpd from January: Report

OPEC+ sources have said Russia, Iraq, Nigeria and the United Arab Emirates have all to a certain extent expressed interest in supplying the market with more oil in 2021

Core sector shrinks eighth month in row, sharper sequentially in October

Contraction due to decline in production of crude oil, natural gas, refinery products and steel

BP says era of oil-demand growth over, may not return to pre-Covid levels

The UK giant is describing a different future, where oil's supremacy is challenged, and ultimately fades

ONGC pre-tax profit down 82% to Rs 2,012 cr in Q1 on low crude, gas prices

Gross revenue for the quarter at Rs 62,496 crore, down 43% from Rs 1,09,546 crore during the first quarter of FY20

Saudi Aramco to go ahead with plans to boost oil output capacity, says CEO

The oil company will boost outpur capacity by 1 million barrels per day (bpd) to 13 million bpd despite spending cuts this year and next year

Limited gains for ONGC as coronavirus crisis, oil price spat continue

Analysts feel company's stock is already discounting crude price recovering to $48/barrel.

Opec cuts output to lowest since 1991 as coronavirus slams oil demand

The Organization of Petroleum Exporting Countries cut production by 1.93 million barrels a day to 22.69 million a day last month, according to the survey.

54 employees test positive, ONGC halts operations at two drilling rigs

A company official said work stopped temporarily only at two rigs and the remaining 34 in the offshore were operational. He added there was no impact on the company's production.

Assam well fire: Over 7,600 MT crude oil production lost due to blockades

Locals said the fire had left a trail of devastation in the adjoining areas, including a famous lake; Farms with standing crops as well as ponds and wetlands have also been affected

Oil pips $40 for first time since March on OPEC cuts, demand recovery seen

Brent has more than doubled after hitting a 21-year low below $16 in April, when U.S. crude went negative

April refinery output down 29%, natural gas falls 19% as consumption tapers

Industry experts say consumption of petroleum products in April was only 30-40% of what it had been prior to lockdown

Ajay Dixit exits Cairn, is fifth CEO to quit firm since Vedanta acquisition

Cairn Oil & Gas said in a statement that Dixit is superannuating at the end of his five-year term at the group in May

Soft crude oil prices to lower working capital requirement of OMCs

According to CARE Ratings, the impact of a fall in crude oil price owing to the coronavirus (Covid-19) pandemic on the domestic downstream sector would not be as severe as it is on the upstream sector