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  • Govt panel to prepare road map for raising refining capacity Jun 14, 2016 02:24 PM IST

    Govt panel to prepare road map for raising refining capacity

    The 12-member Working Group for preparing Approach Paper for enhancing refining capacity by 2040 will be headed by Additional Secretary in the Oil Ministry and include directors of refineries at Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL).

  • OPEC sees oil glut shrinking in second half of year Jun 13, 2016 07:15 PM IST

    OPEC sees oil glut shrinking in second half of year

    OPEC forecast that the world oil market will be more balanced in the second half of 2016 as outages in Nigeria and Canada help to speed up the erosion of a supply glut.

  • IEA sees slower global gas demand growth to 2021 Jun 08, 2016 02:38 PM IST

    IEA sees slower global gas demand growth to 2021

    After growth of 2.5 percent over the last six years, gas is facing competition from renewable energy and cheap coal, meaning the global gas market will remain over supplied.

  • Oil glut 'may ease' by 2017 as non-cartel supply drops: OPEC May 13, 2016 07:46 PM IST

    Oil glut 'may ease' by 2017 as non-cartel supply drops: OPEC

    OPEC on May 13 said a global crude glut that has squeezed the market and sent prices plunging over the past year "may be easing" as a result of countries outside the oil producing cartel dropping their production

  • IEA sees surge in oil demand from India, emerging nations May 12, 2016 08:32 PM IST

    IEA sees surge in oil demand from India, emerging nations

    Surge in oil demand in India and other emerging nations will lead to reduction in global oil surplus in the first half of 2016, the International Energy Agency (IEA) said on May 12

  • 'Outlook for oil brightens as output disruptions erode surplus' May 12, 2016 03:16 PM IST

    'Outlook for oil brightens as output disruptions erode surplus'

    The IEA said output from non-OPEC producers is expected to fall by 800,000 barrels per day (bpd) in 2016, an acceleration from the agency's previous forecast for a fall by 710,000 bpd.

  • Russia, Saudi Arabia to pump as much as possible: IEA expert Apr 23, 2016 12:46 PM IST

    Russia, Saudi Arabia to pump as much as possible: IEA expert

    On Friday, the head of the Oil Industry and Markets Division at the International Energy Agency (IEA) told CNBC that he believed both producers will continue to "pump as much oil as possible."

  • Crude falls as major producers hint at output hike Apr 21, 2016 07:53 AM IST

    Crude falls as major producers hint at output hike

    The International Energy Agency (IEA) said on Thursday that oil markets would likely take until 2017 to rebalance and that even that was provided there was no major economic slowdown.

  • IEA chief says oil market to return to balance by 2017 Apr 21, 2016 07:53 AM IST

    IEA chief says oil market to return to balance by 2017

    Birol said low oil prices have cut oil investment by about 40 percent in the past two years, with sharp falls in the United States, Canada, Latin America and Russia, and the world's reliance on Middle East oil will accelerate substantially in the next few years.

  • Oil freeze deal faces trouble as Saudi-Iran tensions spike Apr 17, 2016 04:44 PM IST

    Oil freeze deal faces trouble as Saudi-Iran tensions spike

    A meeting between OPEC and non-OPEC oil producers on an agreement to freeze output ran into last-minute trouble in Qatar on Sunday due to what looked like a new spike in tensions between Saudi Arabia and Iran, sources told Reuters.

  • Oil glut set to ease this year: IEA Apr 14, 2016 02:50 PM IST

    Oil glut set to ease this year: IEA

    Ahead of the highly anticipated Doha talks, the 29-nation IEA said the oil market, which for months has been depressed by a vast oversupply, was expected to practically balance out in the second half of the year.

  • India's 2015-16 fuel demand up at fastest pace in at least 15yrs Apr 13, 2016 02:51 PM IST

    India's 2015-16 fuel demand up at fastest pace in at least 15yrs

    Fuel consumption, a proxy for oil demand, rose 10.9 percent to 183.5 million tonnes between April 2015 and March 2016, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.

  • Middle East to dominate oil imports into India: IEA Mar 25, 2016 01:02 PM IST

    Middle East to dominate oil imports into India: IEA

    "India is most definitely a growth hotspot country in the period (through to 2021). We are looking at an extra million barrel to be added by 2021 on the back of a very strong economic growth," Neil Atkinson, Head, Oil Industry and Markets Division at IEA, said here.

  • India in driver's seat as fuel demand roars at fastest rate ever Mar 18, 2016 07:36 AM IST

    India in driver's seat as fuel demand roars at fastest rate ever

    Hundreds of thousands of Indians, spurred by cheap credit and rising incomes, are buying cars each month to free themselves from creaky, unreliable public transport.

  • Why the worst is not necessarily over for oil: IEA Mar 11, 2016 03:00 PM IST

    Why the worst is not necessarily over for oil: IEA

    "Even so, there are signs that prices might have bottomed out," the IEA said in its latest monthly report published on Friday echoing oil markets which have seen a recovery in recent weeks on the back of a weaker dollar which helps to fuel demand.

  • India, IEA sign pact for energy cooperation Mar 04, 2016 08:15 PM IST

    India, IEA sign pact for energy cooperation

    The Statement of Intent to step up engagement in policy and technology research as well as enhance cooperation in numerous fields including forecasting and data, was signed by NITI Aayog vice chairman Arvind Panagariya and IEA Executive Director Fatih Birol

  • 'Japan PMI, IEA's take on oil mkt rebalancing dented confidence' Feb 23, 2016 03:20 PM IST

    'Japan PMI, IEA's take on oil mkt rebalancing dented confidence'

    Jan Lambregts of Rabobank gave his views on why the Asian and European markets are down despite a positive handover from the Wall Street

  • India likely to spend $1 trillion power by 2030: Piyush Goyal Feb 09, 2016 03:26 PM IST

    India likely to spend $1 trillion power by 2030: Piyush Goyal

    The power sector in the country is at an inflection point and the focus is on developing an integrated outlook with transparent policies on tariffs and fuel pricing which enhance the ease of doing business, Power Minister Piyush Goyal said here.

  • Oil demand growth set to 'ease back considerably': IEA Feb 09, 2016 03:10 PM IST

    Oil demand growth set to 'ease back considerably': IEA

    Crude oil prices have spiralled lower in January with what the IEA called "brimming stockpiles" pushing global benchmarks below USD 30 a barrel. On Tuesday, Brent crude for April delivery was trading at USD 32.80 a barrel and US crude was at USD 29.93, showing little let-up for prices.

  • India eyes Africa's vast resources to meet rising energy demand Jan 23, 2016 12:41 PM IST

    India eyes Africa's vast resources to meet rising energy demand

    India is seen as the most important driver of energy demand growth in the world in the years to come with its oil consumption seen rising by 6 million barrels per day (bpd) to about 10 million bpd by 2040, according to the International Energy Agency (IEA)

  • Oil rises 7% above $31 as cold snap boosts demand Jan 22, 2016 05:52 PM IST

    Oil rises 7% above $31 as cold snap boosts demand

    Crude futures were poised for their first weekly gain this year, but analysts said there had been no shift in the fundamental backdrop of supply that far exceeds demand and swelling inventories of unwanted oil and oil products.

  • Iran entering oil market may trigger geo-political tensions: IEA Jan 21, 2016 01:44 PM IST

    Iran entering oil market may trigger geo-political tensions: IEA

    Fatih Birol, Executive Director, International Energy Agency (IEA) says Iran's production will compensate for the decline in the US output and may lead to geo-political tensions among major oil producers.

  • When will crude oil hit the bottom? Jan 19, 2016 10:36 AM IST

    When will crude oil hit the bottom?

    While there are some who predict oil to hit USD 20 mark, there are some who expect it in the range of USD 30-50 range.

  • India's energy demand will be double by 2040: Pradhan Dec 21, 2015 02:44 PM IST

    India's energy demand will be double by 2040: Pradhan

    India's energy demands will be more than double by 2040 as the economy will grow over five times its current size, Petroleum Minister Dharmendra Pradhan said on Monday.

  • Golden age of coal in China seems over: IEA Dec 18, 2015 09:00 AM IST

    Golden age of coal in China seems over: IEA

    China is the world's top coal consumer but its uptake of the dirty fossil fuel has waned with the country moving more towards less energy-intensive sectors. State efforts to cap consumption in a bid to clear up the choking smog that smothers the country's major cities have also hit demand.

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