Energy Sector

OPEC daily basket price closes slightly lower

OPECVienna, May 27 : The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $106.73 a barrel Monday, against $106.92 last Friday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres.(IANS)

OPEC daily basket price closes tad lower

OPEC daily basket price closes tad lowerVienna, May 26 - The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $106.92 a barrel Friday, against $107.00 last Thursday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres. (IANS)

Natural gas output falls over 7 percent year-on-year

Natural-gas-outputNew Delhi, May 23 : Production of natural gas in April recorded a year-on-year fall of 7.7 percent as both public and private sector explorers failed to meet targets, data released Friday by the petroleum ministry showed.

The data, which came ahead of the announcement of new prices of the commodity, showed that the actual production of 2.77 billion cubic metres of natural gas in April represents a target shortfall of 5.9 percent, as well as a drop of 7.7 percent from the production recorded in the same month of the previous fiscal.

The natural gas production in April 2013 was over 3 billion cubic metres.

OPEC daily basket price closes higher again

OPECVienna, May 23 : The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $107.00 a barrel Thursday, against $106.82 Wednesday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres.(IANS)

OPEC daily basket price closes lower

OPECVienna, May 21 : The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $106.18 a barrel Tuesday, against $106.43 Monday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres. (IANS)

OPEC daily basket price closes higher

OPECVienna, May 20 : The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $106.43 a barrel Monday, against $105.95 last Friday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres. (IANS)

Gas deals expected during Putin's China visit

Gas deals expected during Putin's China visitBeijing, May 15 - Vice Foreign Minister Cheng Guoping said Thursday agreements on natural gas are expected to be signed between China and Russia during Russian President Vladimir Putin's visit to China.

Putin will visit China May 20 and attend the fourth summit of the Conference on Interaction and Confidence Building Measures in Asia (CICA) in Shanghai, reported Xinhua.

In the Feb 6 meeting at Sochi, Chinese President Xi Jinping and Putin reached important agreements on gas, and a vast majority of contracts.

OPEC daily basket price closes over a dollar higher

OPEC daily basket price closes over a dollar higherVienna, May 15 : The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) stood at $105.62 a barrel Wednesday, against $104.50 Tuesday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres.(IANS)

Russia softens tone on gas dispute with Ukraine

Dmitry MedvedevMoscow, May 15 - Russia said Wednesday it would resume gas price talks with Ukraine if Kiev pays off part of its mounting gas debt, in an apparent move to soften its tone on gas dispute with the Eastern European country.

"No one ever said: Return four billion US dollars immediately," Xinhua quoted Prime Minister Dmitry Medvedev as saying. But he stressed that Ukraine should at least show the willingness to pay the outstanding debt. "If they pay a part, it is at least a basis for talks."

OPEC daily basket price closes higher

opecVienna, May 14 : The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) stood a tad lower at $104.50 a barrel Tuesday, against $104.21 Monday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres. (IANS)

OPEC raises oil demand forecast for 2014

OPEC raises oil demand forecast for 2014Vienna, May 14 - OPEC has raised its forecast on the demand for its oil in 2014 to 29.8 million barrels per day (bpd), 110,000 bpd higher than its previous projection, the Vienna-based cartel said Tuesday.

In its latest monthly report, the Organisation of the Petroleum Exporting Countries (OPEC) said its oil output in April rose by 131,000 bpd to 29.59 million bpd, largely due to higher supply by Iraq and Saudi Arabia, Xinhua reported.

OPEC daily basket price closes tad lower

OPEC daily basket price closes tad lowerVienna, May 13 - The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) stood a tad lower at $104.21 a barrel Monday, against $104.46 last Friday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres. (IANS)

Iran rejects limiting its crude oil exports

Bijan Namdar ZangenehTehran, May 9 - Iran will not accept any limitations on its crude oil exports by foreigners, the country's oil minister said here Thursday.

"Iran will not accept any numbers and figures for the volume of its oil exports dictated by others," Xinhua quoted Bijan Namdar Zanganeh telling reporters on the sidelines of an international exhibition linked to oil, gas and petrochemicals.

Iran itself will determine the amount of its crude oil exports, he added.

OPEC daily basket price closes at same level

OPEC daily basket price closes at same levelVienna, May 8 : The basket of 12 crude oils of the Organization of Petroleum Exporting Countries (OPEC) stood at $103.69 a barrel Wednesday, unchanged from Tuesday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres.(IANS)

Government returns RIL's bank guarantee for new gas price

Reliance-Industries-LimitedNew Delhi, May 2 : With the election code of conduct still in place, the petroleum ministry has returned the bank guarantee given by Mukesh Ambani-led Reliance Industries Ltd (RIL) in connection with the upward price revision for natural gas supplied by it.

Diesel under-recovery rises to Rs.6.80 a litre

Diesel under-recovery rises to Rs.6.80 a litreNew Delhi, May 1 : The under-recovery, or revenue loss, applicable on diesel for the first fortnight effective May 1 has been pegged upwards at Rs. 6.80 per litre, the petroleum ministry said Thursday, while oil marketing companies (OMCs) avoided the monthly hike in fuel rates for the second month running.

This compares to the under-recovery of Rs. 5.49 per litre during the second fortnight of April.

Petronet LNG Q4 net profit down 31 percent

Petronet-LNGNew Delhi, April 30 : State-run gas importer Petronet LNG Wednesday reported a 31 percent fall in its fourth quarter (January-March) net profit to Rs. 169.3 crore from Rs. 245.14 crore logged in the corresponding quarter of the previous fiscal.

The company's total income increased from Rs. 8,487.86 crore for the fourth quarter of fiscal 2012-13 to Rs. 10,458.55 crore for the corresponding quarter ending March 2014.

Petronet's net profit for the full year ended March 2014 declined by 38 percent to Rs. 711.92 crore compared with Rs. 1,149.28 crore for the year ended March 31, 2013.

OPEC daily basket price closes lower

OPEC daily basket price closes lowerVienna, April 30 : The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $104.95 a barrel Tuesday, against $105.43 Monday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres. (IANS)

OPEC daily basket price closes slightly higher

OPECVienna, April 29 : The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) stood at $105.43 a barrel Monday, against $105.37 last Friday, according to the OPEC Secretariat.

The new OPEC reference basket comprises Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es Sider (Libya), Bonny Light (Nigeria), Qatar Marine (Qatar), Arab Light (Saudi Arabia), Murban (United Arab Emirates) and Merey (Venezuela). A barrel is equal to 159 litres. (IANS)

Ukraine, Slovakia sign deal on reverse gas supply

Ukraine, Slovakia sign deal on reverse gas supplyKiev, April 29 - Ukraine has signed an agreement with Slovakia on reverse flow of natural gas deliveries, Ukrainian Prime Minister Arseny Yatsenyuk said Monday.

"Ukraine has signed a memorandum of cooperation with the Slovak company, which envisages starting of reverse gas supplies via the territory of Slovakia," Xinhua quoted Yatsenyuk telling during a press conference.

According to the deal, Kiev could annually import around 8 billion cubic metres of gas from the European market through Slovakia, Yatsenyuk said.




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