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MARKET WATCH: Energy prices drop on concerns for European economy

Crude oil prices declined across the board Dec. 28, giving back most or more than the gains from the previous session. In New York, the front-month crude contract dropped below $100/bbl as traders worried more about the troubled European economy and less about Iran’s threats to close the Strait of Hormuz.

Marc Ground at Standard New York Securities Inc., the Standard Bank Group, said, “Not only have concerns been raised about Euro-zone demand, but US demand for crude oil also has been brought into question as gasoline consumption figures dropped, according to Department of Energy reports. Oil also lost support as worries over an Iranian blockade of the Strait of Hormuz eased.”

The euro fell sharply to the lowest level since the start of this year compared with the dollar and to a 10-year low against the yen. “The dollar index is now back to the levels of August 2010—in other words, all the dollar debasement linked to QE2 [the Federal Reserve Bank's second quantitative easing program] has been wiped out. The flat price of crude oil came off with the rise of the dollar, but that still does not make any strong difference for European consumers. In euros, the price of oil is still near record levels and crude oil in dollars still has to fall a lot more before it starts to have any positive impact on European consumers,” said Olivier Jakob at Petromatrix in Zug, Switzerland.

BG India Suspends Oil & Gas Production.

BG India, a unit of the BG Group PLC suspended production of oil and gas at the Panna-Mukta fields off India's west coast on July 20 after a ...

Iraq Invasion Revelations, Part II: The Payoff - Business Insider

Who knew that India even had oil, let alone a “fast-growing oil and gas industry”. 2 billion to buy into India’s fast-growing oil and gas industry. …Indian officials have been slow to approve a deal announced in August by Vedanta Resources, based in London, to buy a controlling stake in Cairn India, an oil-producing subsidiary of Cairn Energy, based in Edinburgh....

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Oil gas industry india - Bookshelf


Enhancing Global Competitiveness: Advantage India
424 pages
Enhancing Global Competitiveness: Advantage India

Indian Oil and Gas Industry for Energy Security The Indian Oil and Gas Sector report, developed by specialists after extensive research and due diligence, ...

Oil & gas journal Oil & gas journal

The government asked Indian Oil Corp. and Tata Chemicals group— promoters ... on the Le- man B and C gas production platforms in the southern UK North Sea. ...

Outlook Business
82 pages
Outlook Business

Reliance be the country's gas basin. Reliance Industries Limited is likely ... even triple India's “could double or even triple India's gas production from ...

Plunkett's Energy Industry Almanac 2008
719 pages
Plunkett's Energy Industry Almanac 2008

It operates refineries, liquid petroleum gas (LPG) bottling plants, ... in India and represents 40% of the country's total lube base oil production. ...

Minerals Yearbook, 2008, V. 3, Area Reports, International, Asia and the Pacific
236 pages
Minerals Yearbook, 2008, V. 3, Area Reports, International, Asia and the Pacific

In terms of production, India was among the leading producers in the world ... tax holiday for oil and gas companies engaged in refining activities if such ...

Oil gas industry india - News


Cabotage policy could hurt oil, gas production
However he told the House that the country's shipping companies were not capable of providing all of the required vessels to the oil and gas industry. “Some other countries, such as China, Australia, India, Brazil and the United States also implement

RI's oil, gas production may decline by 196 million barrel oil equivalent
“Some other countries, such as China, Australia, India, Brazil and the US, also implement the cabotage principle, but they understand the specialty of the oil and gas industry, so that they exclude several types of vessels from being subject to the

Cairn, partners plan $44 mn drilling programme in Ravva field
Cairn, partners plan $44 mn drilling programme in Ravva field Cairn India and its joint venture partners have completed a 4D seismic campaign in the acreage and data interpretation is underway to identify bypassed oil zones. However, sources said they could not estimate the quantum of oil or gas that can be

RS Butola takes over as Chairman, IndianOil
RS Butola takes over as Chairman, IndianOil New Delhi: Mr. RSButola has taken over as Chairman of Indian Oil Corporation Ltd., India's flagship oil & gas major. Before joining IndianOil, Mr. Butola was the MD of ONGC Videsh Ltd. (OVL). Under his stewardship, OVL built a formidable E&P portfolio

Budget 2011 Brought to you by
Budget 2011 Brought to you by India imports 80% of its energy requirement. Industry experts say that with no relief from the Budget, the oil companies have no choice but to raise petrol price, which was deregulated last year. "The oil & gas industry was expecting a reduction in