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Latest Articles in Oil and Gas

IEA Sees Global Oil Supply Tightening More Quickly In 2019

Uncertainty over the global economy stemming from U.S.-China trade tensions could undermine oil consumption next year, as growth in supply gathers pace

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HPCL To Buy Iranian Oil In Jan After Six-month Gap: Sources

HPCL would continue to buy Iranian oil on a regular basis during the waiver period

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ONGC Gets $32 Million Payment From Venezuela's PDVSA

ONGC has a 40 percent stake in Venezuela's San Cristobal project, with PDVSA holding the remainder

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Shell Sets Carbon Cutting Targets After Investor Pressure

Following discussions with investors, the Anglo-Dutch oil and gas giant said that from 2020 it will set three- to five-year targets every year which will include specific net carbon footprint targets.

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Qatar To Withdraw From OPEC As Of January 2019: Minister

The announcement comes ahead of the meeting by OPEC and its allies including Russia on Dec. 6-7 to discuss cutting supply

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Asia's Iran Oil Imports Plunge To Five-Year Low In October

China, India, Japan and South Korea last month imported about 762,000 barrels per day (bpd) from Iran, according to the data, down 56.4 per cent from a year earlier.

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Wave Of Refinery Shutdowns May Push India Into Importing Fuel Next Year

The refiners will have to shut gasoil- and gasoline-making units at their plants for 15 to 45 days to churn out Euro VI-compliant fuels from January 2020 to be able to sell them from April of that year

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Oil Slips On Record Saudi Output; Markets Eye G20 And OPEC Meetings

Saudi Arabia raised oil production to an all-time high in November, an industry source said yesterday, pumping 11.1 million to 11.3 million barrels per day (bpd) during the month

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Oil Breaks Above $60/BBL, But Doubts About Growth Curb Gains

Prices on Friday hit their lowest since October 2017 amid intensifying fears of a supply glut. Brent sank to $58.41 a barrel, while WTI fell to $50.15 a barrel

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Saudi Arabia Oil Pumping At Record High As Trump Raises Pressure

Saudi Arabia agreed to raise supply steeply in June, in response to calls from consumers, including the United States and India, to help cool oil prices and address a supply shortage after Washington imposed sanctions on Iran

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Oil Hits 2018 Lows On Emerging Supply Glut, OPEC Expected To Cut

The fall came even as markets expect the Organization of the Petroleum Exporting Countries (OPEC) to start withholding supply after a meeting planned for Dec. 6

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Indian Oil Corp Says To Buy 180,000 BPD Iranian Oil In 2018/19

The company has a deal to buy 180,000 barrels per day (bpd)Iranian oil this fiscal year

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GAIL Might Buy Some Wind Energy Assets Of IL&FS: Sources

The new board of shadow bank IL&FS, which has defaulted on some of its debt, has decided to sell off its assets as part of a restructuring plan

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Oil Rises On Expected OPEC Cuts, But Surging U.S. Supply Drags

OPEC's de-facto leader Saudi Arabia wants the cartel and its allies to cut output by about 1.4 million barrels per day (bpd), around 1.5 percent of global supply, sources told media sources this week

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Saudi Minister Calls For 1 Million BPD Global Oil Output Cut

Khalid A. Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia said Saudi Arabia will cut its production by 500,000 bpd as of next month to help stabilise the market

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