Oil production freeze not to impact prices?
I would expect that till the storage tanks have no place left, the prices would remain southbound, and decline or hold, said Ashu Sagar, Secretary General, Association of Oil and Gas Operators (AOGO) of India, in response to The Dollar Business. Sai Nikesh | The Dollar Business The race is between tank capacity and the companies holding on till they are forced to shut production, says Association of Oil and Gas Operators of India Concerned over decline in oil prices driven by oversupplies globally, dominant oil producing Russia and Saudi Arabia on Tuesday announced potential freezing of their oil production till a stable position is achieved. However, industry sources believe that production freeze will not have much impact on oil prices. The freeze ...
Govt mulls new policy to boost investment in oil and gas sector
The Petroleum Ministry will hold a meeting with chief secretaries of all north east states to finalize a hydrocarbon vision for the region. The Dollar Business Bureau One of the biggest challenges for the NE oil industry is to arrest the natural decline in production, which needs a state-of-the-art technology, says Ved Prakash Mahawar, Director (Onshore), ONGC Ltd The government is working on a special policy which is expected to boost investment in the oil and gas sector in the northeastern part of the country, a top official of the Petroleum Ministry said. Keeping in view the challenges being faced by the oil and gas sector in the north east, the ministry will hold a consultative meeting with chief secretaries of all north ...
