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Oil and gas in the new norm

Athila of MIDF points out that according to the recently released Petronas Activity Outlook 2021-2023, offshore activities are expected to support local O&G service providers for this year. SINCE the collapse of crude oil prices in 2014, the oil and gas (O&G) sector has never been the same. First came the shale boom in the United States, creating ample supply and potentially changing geopolitics in the process by making the country less reliant on oil imports. Another sting to the industry was the heavy debts that players struggled to pay back following the oil price rout that took place from 2014 to 2016.

Petrol prices set to breach all-time high

Petrol prices set to breach all-time high Premium Diesel price saw a 25 paise per litre increase to ₹74.12 per litre in the national capital. (Mint) Petrol had reached an all-time high price of ₹84 per litre on 4 October 2018 in Delhi Share Via Read Full Story NEW DELHI : Petrol prices in India are set to cross the all-time high level, with a litre of the transportation fuel selling at ₹83.97 in the national capital on Wednesday. After holding steady for 29 days, fuel retailers increased the price of petrol by 26 paise per litre on Wednesday. Diesel price saw a 25 paise per litre increase to ₹74.12 per litre in the national capital.

Oil hits 11-month high after Saudi Arabia pledges voluntary output cut - Business

Opec+ ministers adjourn without deal on February output levels | Daily Express Online

Published on: Wednesday, January 06, 2021 By: AFP Text Size: The Opec+ ministerial meeting comes after the Covid-19 pandemic tanked the market for crude in 2020. LONDON: Members of the Opec group of oil producers and their partners ended discussions without agreement on production levels for February, as divisions opened up between the linchpins of the two groups, Saudi Arabia and Russia. Ministers adjourned after three hours of video-conference talks, with discussions expected to restart on Tuesday at 1430 GMT.  The Opec+ ministerial meeting came after the Covid-19 pandemic tanked the market for crude in 2020. ADVERTISEMENT Despite a slight recovery of prices towards the end of last year, the 13 members of the Organization of the Petroleum Exporting Countries (Opec), led by Saudi Arabia, and their ten allies, led by Russia, are still suffering under a highly volatile market.

Petroleum prices set to rise in 2021 as vaccines take effect

Petroleum prices set to rise in 2021 as vaccines take effect Crude prices have already surged 35% from the lows of October-end to $51 per barre. REUTERS/Vasily Fedosenko/File Photo (REUTERS) Share Via Read Full Story MUMBAI : Oil prices, that touched a historical low of $20 a barrel in 2020, may see better days in 2021 albeit in the second half, with analysts expecting vaccine to boost demand for the commodity globally. Crude prices have in fact, already surged 35% from the lows of October-end to $51 per barrel. Spot liquefied natural gas (LNG) prices have surged from $2.1-3.5 per million metric British thermal unit (mmBtu) in Q1-Q2FY21 to $7 per mmBtu in Q3FY21 and have currently spiked to $11.1 per mmBtu for January 2021 delivery.

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