Page 7 - Oil Production

Oil steadies near three-year highs on recovery signs

NEW YORK (Reuters) -Oil prices steadied on Thursday, holding close to their highest levels in almost three years, supported by drawdowns in U.S. inventories and accelerating German economic activity.

India presses OPEC for affordable oil, phasing out of production cuts

As a result, OPEC's share in India's oil imports has dropped to about 60 per cent in May from 74 per cent in the previous month

Opec+ discusses crude output hike in preparation for next meeting

Moscow is considering making a proposal that the group should ease a global supply deficit by increasing output, according to Russian officials familiar with the matter

Oil in dangerous waters

Data for the financial year 2020-21 revealed that domestic oil production fell again by 5% to 30.5 mn tonnes. This is the lowest in this century

Oil steady after sharp rise on improved fuel demand picture

Brent crude futures were up 16 cents, or 0.22%, at $71.51 a barrel by 1244 GMT after touching their highest since September 2019 at $71.99. The international benchmark had gained 1.6% on Wednesday

OPEC wins, the West loses

Judges, investors force oil firms towards low-carbon future

Next oil reserves plan by Sept, to see Rs 14K-crore investment: ISPRL

Request for proposal document awaiting Centre's nod

Cairn Oil & Gas starts production from tight oil project in Rajasthan

Vedanta Ltd's Cairn Oil & Gas on Wednesday said it has commenced oil production from NA #01 facility in Aishwariya Barmer Hills in Rajasthan. "The project is a first in Cairn's tight oil portfolio with a growth potential to contribute 20 per cent to the company's vision production," the company said in a statement. Cairn Oil & Gas however did not give production numbers. The project, the firm said, has been executed in collaboration with leading global oilfields services company, Schlumberger. The ABH development uses some of the most advanced technologies for its operations. It is the largest horizontal well with multi-frac development campaign of 37 wells in the Indian subcontinent which is the key enabler to unlock tight oil. Speaking about the project, Prachur Sah, Deputy CEO, Cairn Oil & Gas, said, "The ABH tight oil project is yet another example of our commitment to growing India's E&P sector through the deployment of advanced technologies. "It is also a ...

RIL's oil-to-chemicals business recovers but second wave a challenge

The company's oil and gas production is hinging on output at its satellite fields. It is minuscule compared to its big-bang entry into this segment in the late 1990s

Oil steadies as dollar slumps but Covid-19 pandemic surge weighs

Brent crude was down 4 cents, at $66.73 a barrel by 11:06 AM ET (1506 GMT), after rising 6% last week

Oil slips towards $59 as investors weigh near-term demand outlook

Futures in New York lost 0.5 per cent on Monday after falling 3.5 per cent last week

Undiplomatic wrangling

India-Saudi relationship must survive oil price dispute

Oil settles up more than $2 despite OPEC+ production cuts

Brent crude settled up $2.12, or 3.4%, to $64.86 a barrel. US oil settled up $2.29, or 3.9%, at $61.45 a barrel.

China's mega-refineries throttling other Asia oil processors amid pandemic

A frenzy of refinery building in China is set to make the nation the world's largest crude processor this year

Explained: Why 'atmanirbharta' flows against oil security for India

Instead of relying on negligible domestic deposits, India should be securing steady supplies from abroad

Delhi HC sets aside order asking Govt to extend Vednata oil deal till 2030

The Delhi High Court set aside a single judge order directing the Centre to extend till 2030 its production sharing contract with Vedanta and ONGC to produce oil from the Barmer oil field in Rajasthan

Oil prices drop 2% as Covid-19 vaccine halt threatens demand

Brent was down $1.11 cents, or 1.6%, at $67.77 a barrel by 1325 GMT. U.S. crude fell $1.17, or 1.7%, at $64.22

Oil settles near $70 a barrel on hopes of recovering demand in second half

Benchmark Brent settled down 41 cents, or 0.6%, to $69.22 a barrel. U.S. West Texas Intermediate crude also ended down 41 cents to $65.61 a barrel.

Royal Dutch Shell's oil trading earnings double in 2020 to $2.6 billion

Shell's oil trading operations, known internally as Trading & Supply, accounted for 43% of the Oil Products division's total earnings of $5.995 billion in 2020

Chevron to slow carbon emissions, raise oil output with modest spending

Chevron outlined a plan to expand oil and gas production through 2025, but without spending significantly more, and pledged to limit the pace of growth of its carbon emissions