Fitch Ratings expects Brent crude oil prices to be around $45/barrel next year which would support a modest improvement in the credit metrics of most Chinese and south-east Asian national oil companies. The benchmark oil price was recently hovering at $41/barrel, but has since then rebounded to close to $45/barrel amid hopes of higher demand because […]
The global economy is recovering from the depths of the coronavirus crisis, but there are signs of slowing momentum in countries with a resurgence in infection rates, the International Monetary Fund said in a new report for G20 major economies. The report, released ahead of this week’s virtual meetings of finance officials and leaders from […]
India was working towards doubling its oil refining capacity over the next five years, Prime Minister Narendra Modi said at the convocation ceremony of the Pandit Deendayal University on Saturday, adding that the energy sector was at a crossroads as major changes were taking place due to the pandemic. “Today, there are unlimited opportunities in […]
After a brief respite for crude oil prices on promising results from the much-anticipated Covid vaccine, the fossil fuel has resumed its downward march. A surge in fresh virus cases and related restrictions are weighing on oil prices as the number of people who have died from covid in the US has now crossed 250,000. […]
After a 76% rise in EBITDA for state-run Oil and Natural Gas Gas Corporation quarter-on-quarter for the three months ended 30 September, its earnings are set to improve over the next 12-18 months, says Moody’s Investors Service. Its EBITDA during the July-September quarter dropped by 30% year-on-year in line with the dip in oil price due […]
Indian Finance Minister Nirmala Sitharaman on Thursday announced financial outlays for 12 sectors, including a fertiliser subsidy as well as those for housing and infrastructure that will likely drive demand for key commodities. She said the announcement was the third instalment of Atma Nirbhar Bharat (Self Reliant India) programme that was meant to establish the country […]
The US presidential election victory of Democrat Joe Biden will likely ring in many far-flung changes across the complex of oil, petrochemicals and environment sustainability practices, according to S&P Global Platts. Not only will the US re-engage to join the Paris Climate accord, but also more comprehensive proposals are likely to follow with a target […]
India’s Transport Minister Nitin Gadkari urged the domestic automobile industry to take the initiative in making electric car batteries in the country in order to give a fillip to electric vehicle manufacturing and usage in the country. The South Asian nation is the world’s fourth-largest automobile market and second-largest for two-wheeler vehicles, but despite government incentive programs lags […]
With a closely-fought election edging slightly towards Democrat nominee Joe Bien, crude oil prices are edging downwards in anticipation of more fuel supplies reaching global markers. On Thursday, Brent crude fell 0.4% to $41.06 a barrel and West Texas Intermediate down 0.7% to $38.87 a barrel. A Biden administration is seen as less bullish for […]
Global economic recovery has become complicated by a new wave of the virus spreading at a record rate all over Europe and the United States. Overall growth is projected at -4.4 percent in 2020 and 5.2 percent in 2021. China’s return to growth has been stronger than expected. For many other emerging market and developing […]
