Category: oil-&-gas

Crude oil prices decreased to $66 a barrel. This happened after US President Donald Trump declared an Iran-Israel ceasefire. Earlier, prices had risen due to US bombing of Iranian facilities. Iran’s muted response and neutralized missile strikes at a US base in Qatar de-escalated tensions. Industry experts anticipate further price declines due to increased OPEC+ production and weaker demand.

Cairn Oil & Gas is supplying clean natural gas to tea estates in Upper Assam, aiding the state’s crucial tea industry. This initiative, in collaboration with Assam Gas Company Limited, helps estates reduce carbon emissions and fuel costs. Tea producers are now investing in climate-resilient practices, ensuring the long-term sustainability of Assam’s tea legacy.

ONGC is making steady progress in capping the leaking crude oil well in Assam’s Sivasagar district, ongoing for 13 days, with water blanketing as a safety measure. Gas composition analysis confirms the leak is manageable, posing no immediate risk to nearby residents. A 200-ton crane has been installed to support well-capping operations.

Manohar Lal urged state discoms to boost efficiency. He highlighted the need for Rs 42 lakh crore investment by 2032. States should consider nuclear plants. Focus is on reducing losses and ensuring cost-reflective tariffs. Smart meters are crucial for consumer interaction. Prepaid meters for government establishments are targeted by August 2025.

Despite fears of supply disruptions following the Israel-Iran conflict, a surge of Persian Gulf crude is entering an already oversupplied global oil market. Iranian production has surprisingly increased, and other Gulf states are exceeding expected export levels. Increased US shale output, spurred by conflict-driven price spikes, further exacerbates the glut, pushing oil prices downward.

Following President Trump’s announcement of a ceasefire between Iran and Israel, crude oil prices are expected to stabilize around USD 65 per barrel, according to an SBI report. This optimistic scenario brings relief to global markets after recent tensions had pushed prices as high as USD 79.

Oil prices plummeted after President Trump announced a ceasefire agreement between Iran and Israel, easing concerns about potential supply disruptions. Brent crude futures fell significantly, mirroring a drop in U.S. West Texas Intermediate crude. The ceasefire news led to the evaporation of the risk premium previously built into crude oil prices, as tensions eased in the region.

Private power transmission companies are advocating for a phased reduction of incentives for interstate renewable energy transfer, rather than an abrupt cut. The Electric Power Transmission Association (EPTA) has proposed a milestone-based framework, allowing delayed projects to still benefit from the Inter-State Transmission System (ISTS) waiver. EPTA suggests a gradual 10% annual withdrawal, easing the impact on green power costs.

Oil markets initially reacted with jitters but stabilized as traders assessed that escalating tensions in West Asia are unlikely to disrupt supplies, especially with a low probability of Iran blocking the Strait of Hormuz. Despite the US joining the conflict and Iran’s parliament considering closing the strait, analysts believe retaliation is limited.

Oil prices fell after Iran’s attack on a US base in Qatar. However, oil flow through the Strait of Hormuz remained unaffected. Qatar closed its airspace. The US and Israel struck targets in Iran. Some oil companies evacuated staff. Analysts believe the risk of a complete shutdown of oil supply is low. Trump wants lower oil prices.