In February, wholesale inflation slows down to 3.85%.

Inflation based on wholesale prices went down for the ninth straight month in February, coming in at 3.85%. This was because the prices of made goods, fuel, and electricity all went down. Inflation based on the wholesale price index (WPI) was 4.73 percent in January of this year and 13.43 percent...

When it comes to oil from Kazakhstan, Germany wants to know how Russia benefits.

Germany has announced that it will not be purchasing any petroleum oil from Russia this year as part of its effort to wean itself off of its former primary energy source. Russian influence over Berlin would be mitigated by an oil agreement with Kazakhstan.

Kazakhstan has sent its first ...

Russia now ranks among India's most important crude oil suppliers to the Hardeep Puri

The Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, made the statement on Friday as Prime Minister Narendra Modi and Russian President Vladimir Putin discussed their countries' bilateral ties and energy cooperation over the phone.

Puri, speaking at a press conferen...

Indian Detained in Connection With Singapore Refinery Petroleum Theft Case

A court sentenced the individual to four weeks in prison and issued a punishment order for SGD 4,046.70, which is equal in local currency to the amount of the bribe.

According to a media report, a 39-year-old Indian national in Singapore was sentenced to four weeks in jail and told to p...

Impact Of Hike In Petrol Prices

In an attempt to escape the impact of rising oil prices, thousands of drivers are racing to automobile repair shops to install liquefied petroleum gas (LPG) or electric systems in their cars. Energy Reform's president, Surasak Nittiwat, said that the business has seen a 200 percent year-over-...

As a result of the oil shock, poorer countries are wracked by shortages and protests

The oil shock this year has had the greatest impact on developing countries. Many are reliant on imported petroleum, which is being suffocated by a combination of high international prices, weak currencies, and competition from wealthy nations recovering from the pandemic.

In countries ...

WP maintains a 5% sales growth target

SET-listed WP Energy, Thailand's third-largest liquefied petroleum gas (LPG) dealer, has kept its revenue growth objective of 5% for 2022 as the government steadily reduces its LPG price subsidies.

According to deputy chief executive Noppavong Omathikul, revenue is predicted to clim...

Australia Witnesses Soaring Demand for its Gas Resources

A new report shows how demand for Australian gas resources is soaring and has pushed exports to record levels and is playing a vital role in funding public services and infrastructure.

The Australian Petroleum Production and Exploration Association has informed that according to the lat...

Gas is critical to the economy and the decrease in greenhouse gas emissions

The federal budget has reinforced Australia's oil and gas industry's long-term and considerable economic contribution to the economy, while also paving the way for its involvement in a cleaner energy future.

Andrew McConville, Chief Executive of the Australian Petroleum Producti...

The UAE and Saudi Arabia argue that OPEC+ should not engage in political manoeuvring

The Organization of Petroleum Exporting Countries (OPEC) logo is displayed outside its offices ahead of the OPEC and non-OPEC conference in Austria on December 6, 2019. REUTERS/File Photo/Leonhard Foeger REUTERS

The energy ministers of Saudi Arabia and the United Arab Emirates, both sig...

The US Petroleum Industry Expects to See a Greener Future

As the world awakens to the reality of climate change and its impact on mankind, governments, and entities around the world are shifting from fossil fuels to cleaner and renewable sources of energy to reduce greenhouse gas emissions.

The fossil fuel industry amidst this activism is stru...

United Arab Emirates Energy Firm Gets a 22 Percent Stake in a Gas Field in Israel

On Thursday, 9th December, the Ministry of Energy of Israel said that Mubadala Petroleum of the United Arab Emirates (UAE) had secured 22 percent of stakes in the Tamar gas field situated off the northern coast of Israel.

The UAE-based company bought the stakes for 1.1 billion US dollar...

Woodside Petroleum, Australia Invests 5 billion Dollars in New Energy

Australian company Woodside Petroleum Limited plans on investing 5 billion US dollars by 2030. The company will be collaborating with the petroleum arm of BHP Group to invest in hydrogen.

The CEO of Woodside, Meg O’Neill announced her energy plan on 8th December. She said that Woo...

Thailand’s PTTEP buys 25% stake in an Onshore Exploration Block in the UAE

Thai player, PTT Exploration Production company (PTTEP) has acquired 25 percent stakes in the oil and gas exploration block of the Concession Area C from Eni in Sharjah, UAE.

PTTEP said that their investment was aligned with their focus on petroleum prolific areas in the UAE.

...

JAPAN’S CPI DROPPED 0.1% IN APRIL OVER MOBILE PHONE FEES

Highlights –

• Japan’s CPI dropped 0.1% in April over mobile phone fees.
• Bank of Japan struggled to accelerate inflation toward its elusive 2 percent goal.
• In April, mobile phone fees tumbled 26.5 percent from a year earlier.
...

JAPAN’S SEVEN & i ACQUIRES U.S CONVINIENCE STORE SPEEDWAY LLC

Highlights –

• Japan’s Seven & I acquires U.S convenience store Speedway LLC.
• The Japanese retailer acquired the same despite U.S. antitrust officials saying the deal may be "illegal."
• Tokyo-based Seven & i has a...

KIA CORP. LAUNCHES NEW K8 SEDAN IN SOUTH KOREA

Highlights –

• Kia Corp. launches new K8 sedan in South Korea.
• The car company also showed its new brand logo.
• The new K8 sedan is said to be equipped with advanced safety features.
• The company is said to have received 24,000...

INDIA URGES OPEC TO PRODUCE MORE CRUDE OIL

HIGHLIGHTS

• India has urged OPEC to increase crude oil production.
• The daily output of OPEC is 7 million barrels per day.

India has urged Organization of Petroleum Exporting Countries (OPEC) and its partners to increase oil produ...

SHELL’S INDIAN UNIT STARTING RETAIL SALES OF LNG SOON

HIGHLIGHTS

• Very soon, Shell’s Indian Unit is going start the retail sales of LNG.
• Shell is planning to forge partnerships with many other entities and holders of LNG capacity to increase its reach.

Very soon, the India unit of ...

S. KOREAN OIL REFINERS HIT WITH LOW PROFIT MARGINS DUE TO PANDEMIC IN FY 2020

Highlights –

• S. Korean oil refiners hit with low profit margins due to pandemic in FY 2020.
• SK Innovation Co. and three other major oil refinery companies project a combined net loss.
• The benchmark Singapore complex gross refining mar...