Page 8 - Oil And Gas

Oil price rise on supply fears amid tensions in Eastern Europe, Middle East

TOKYO (Reuters) -Oil prices rose on Monday on worries about supply disruption amid rising tensions in Eastern Europe and the Middle East, which could make an already tight market even tighter, while OPEC and its allies continued to struggle to raise output.

Oil prices climb 1% amid tensions in Eastern Europe, tight supply outlook

Brent crude futures rose 87 cents, or 1.0%, to $88.76 a barrel by 0100 GMT, reversing a 0.6% loss on Friday.

Biden officials talking to Qatar about supplying gas to Europe: Report

Europe gets more than 40% of its natural gas from Russia, and about a third of Russian gas flowing to Europe passes through Ukraine.

Oil slides on Friday, but climbs for 5th week on supply concerns

Brent futures fell 49 cents, or 0.6%, to settle at $87.89 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 41 cents, or 0.5%, to settle at $85.14

Crude oil prices hold near $80 after OPEC+ output hike decision

Brent crude futures were up 37 cents, or 0.46%, to $80.37 a barrel by 1210 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.38%, to $77.28

Oil steadies as investors weigh impact of surge in Omicron cases

The United States reported nearly 1 million new coronavirus infections on Monday, the highest daily tally of any country in the world

OPEC and allies to decide crude oil output amid omicron spike

Analysts say the group is likely to add 400,000 barrels of oil per day in February, sticking with the road map it has followed since August

Economic recovery to stoke demand for petroleum products: A CRISIL analysis

Demand is expected to increase further by 6-8 per cent in FY23, driven by healthy demand growth in the liquid petroleum gas (LPG) and naphtha segments

India's gasoil sales rise in Dec, but Omicron seen dampening demand

Movement of gasoil-consuming trucks in India picked up in December as more fruits and vegetables were transported across the country than usual that month

Oil prices climb again as fall in US inventories boosts demand sentiment

Brent crude rose 26 cents, or 0.3%, at $79.20 a barrel by 0759 GMT. U.S. West Texas Intermediate (WTI) crude climbed 19 cents, or 0.2%, to $76.17 a barrel

Indian Oil Corp acquires 5% stake in IEX subsidiary Indian Gas Exchange

IOC joins the likes of oil and gas explorer ONGC, gas utility GAIL Torrent Gas Pvt Ltd and Adani Total Gas Ltd which already have acquired 5 per cent equity each in IGX

India refiners' November crude processing at near 2-year high

Refiners processed 5.25 million barrels per day (21.48 million tonnes) last month, up 5.9% from 4.96 million bpd in October

Oil Ministry launches seventh round for auction of oil and gas blocks

Since 2016, five rounds of Open Acreage Licensing Programme blocks have been concluded and 105 for Exploration and Production.

Oil prices slide as rapid Omicron spread dims fuel demand outlook

The oil and gas rig count, an early indicator of future output, rose by three to 579 in the week to December 17, representing its highest since April 2020

Bidding for DSF-III round to start on February 1, says DGH

From the previous two bid rounds, 29 field development plans entailing $1.76 billion investment have been submitted

OPEC+ produces below target in November as compliance rises

Compliance from the 10 OPEC countries participating in the production cuts reached 122%, with participating non-OPEC countries achieving 107%, data seen by Reuters showed

Oil prices slide as rapid Omicron spread dims fuel demand outlook

The Netherlands went into lockdown on Sunday and the possibility of more COVID-19 restrictions being imposed ahead of the Christmas and New Year holidays loomed over several European countries

India offers eight oil and gas blocks for bidding in latest round

Eight blocks have been offered in the seventh bid round of Open Acreage Licensing Policy (OALP), with bids due on February 15, 2022, the Directorate General of Hydrocarbons (DGH) said

Reliance eyes first oil cargo from UAE trade arm in Dec: Report

RIL aims to get about a 500,000 barrels cargo of United Arab Emirates' Das crude from Reliance International Ltd, says a source

Japan's Osaka Gas plans to enter India's city natural gas market

The Japanese city gas supplier aims to supply natural gas to vehicles, homes and industries in India, using lorries and pipelines