Page 2 - Oil Policy

Oil producers artificially adjusting supply leading to price rise: Govt

India last month agreed to release five million barrels of crude oil from its Strategic Petroleum Reserves

OPEC upbeat on 2022 oil demand, says Omicron impact to be mild

OPEC raises first-quarter 2022 demand forecast by 1.11 mbpd, sees demand at 100 mbpd in Q3 2022, as previously forecast

Oil down as China developer downgrades add to fears of demand outlook

On Thursday, ratings agency Fitch downgraded property developers China Evergrande Group and Kaisa Group to "restricted default" status

Oil edges higher on waning fears of Omicron variant's effects

Brent crude futures settled at $75.82, up 38 cents, or 0.5%. U.S. West Texas Intermediate crude ended at $72.36 a barrel, up 31 cents or 0.4%

Companies bid $192 million in 1st Gulf oil sale under Biden

Energy companies including Shell, BP, Chevron and ExxonMobil offered a combined $192 million for drilling rights on federal oil and gas reserves in the Gulf of Mexico on Wednesday.

OPEC+ to resume oil policy talks on Monday after UAE roadblock

LONDON/DUBAI/MOSCOW (Reuters) -OPEC+ will resume talks on Monday after failing to reach a deal on oil output policy for a second day running on Friday because the United Arab Emirates blocked some aspects of the pact.

Monetise reserves or get set for auction: Oil minister Pradhan to ONGC, OIL

Speaking at BNEF Summit on Tuesday, Pradhan said the two state-owned firms cannot indefinitely sit on resources when the nation is a net importer of oil and gas

Monetise reserves or get set for auction: Oil minister Pradhan to ONGC, OIL

Speaking at BNEF Summit on Tuesday, Pradhan said the two state-owned firms cannot indefinitely sit on resources when the nation is a net importer of oil and gas

Turbocharge upstream oil & gas sector to hasten India's post-Covid recovery

The companies could be asked to commit to channeling the tax relief into boosting production from ageing fields, which would yield longer-term dividend for the government coffers

OPEC+ sticks with oil policy as prices rise towards one-year high

Oil prices extended gains on Wednesday after the meeting ended and benchmark Brent crude traded as high as $58.74 a barrel, the highest since late February 2020

OPEC+ resumes talks on 2021 policy amid discord on how to tackle oil demand

OPEC and Russia resume talks in a bid to define policies for 2021 after an initial round of discussions this week failed to bring a compromise on how to tackle weak oil demand amid a second Covid wave

Crude oil glut likely to overshadow any OPEC+, US policy shifts

S&P Global Platts Analytics slashed its 2021 oil consumption outlook by 700,000 barrels per day (b/d) recently and now predicts oil demand growth of 5.8 million b/d in 2021

Gold prices rises 1% as global recession fears trigger flight to safety

US retail sales plunged 8.7% last month, the biggest decline since the government started tracking the series in 1992, while manufacturing output fell by the most in 74 years

Global deal to cut oil production in sight after Mexico signs up

Even more countries, including the US, were discussing Friday their own cuts in what would be an unprecedented global pact to stabilise the market.

Budget 2020 Wishlist: Here are the key challenges for oil and gas sector

Resolving gas transmission and distribution infrastructure constraints are one of the industry's key demands

Oil regulator to rationalise gas pipeline tariff by aligning transport cost

In the tender inviting bids, it said the consultant will also review current regulations and draft of new proposed regulations

Govt set to lift price restrictions on all locally produced natural gas

A panel led by the Niti Aayog vice chairman has also suggested free-market pricing for natural gas produced from all fields to boost domestic output

The brave new world of ample oil

The shift from scarcity to abundance has been brought about in an astonishingly short time by America's "fracking" revolution, leading to massive benefits for consuming countries

Putin says Russia and Saudi Arabia will maintain oil cuts for 6-9 months

The current version of the deal by the so-called Opec+ coalition calls for production cuts of 1.2 million barrels a day

Producers get pricing freedom in govt's new rules for oil, gas exploration

New rules will be largely applicable on 19 basins and on future licensing rounds, says Dharmendra Pradhan.