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  • Demand : 23401 MWh
  • Soure : NEA

Petroleum

Oil prices steady, all eyes on data seen showing China GDP growth slowdown

Seoul- Oil prices were stable on Friday ahead of data that analysts say could show China, the world's largest oil consumer, just recorded its weakest quarter of economic growth in nearly three decades, dragged down by a trade dispute with the United States. Global benchmark Brent crude oil futures fell by 9 cents, 0.2…


Amlekhgunj depot starts supplying diesel to Bhairahawa, Biratnagar

Kathmandu- Nepal Oil Corporation (NOC) has started supplying diesel to sellers in Bhairahawa and Biratnagar from its Amlekhgunj depot, following the operation of the Motihari-Amlekhgunj petroleum pipeline. Prior to this, the NOC had been supplying diesel in Bhairahawa and Biratnagar from Indian Oil Corporation’s (IOC)’s depots situated in Varanasi of…


UK says Iran responsible for attack on Saudi oil facilities

New York- Britain has concluded that Iran was responsible for attacks on oil facilities in Saudi Arabia, U.K. Prime Minister Boris Johnson said Sunday. He said the U.K. would consider taking part in a U.S.-led military effort to bolster the Gulf kingdom's defenses, while Iran's president announced plans for a rival Iranian-led security…


Fuel price for int’l airlines slashed by $50 per kiloliter

Kathmandu- The Nepal Oil Corporation has slashed the price of aviation turbine fuel (ATF) by US$50 per kiloliter for international carriers in the wake of growing complaints from tourism and international airlines companies that the jet fuel price was too high in Nepal. The state-owned oil monopoly decided to revise…


Saudi oil output to recover in two or three weeks after attack: Sources

LONDON/DUBAI- Saudi Arabia sought to calm markets on Tuesday after an attack on its oil facilities, with sources in the kingdom saying output was recovering much more quickly than initially forecast and could be fully back in two or three weeks. International oil companies, fellow members of the OPEC oil cartel and…


Nepal-India cross-border petro pipeline comes into operation

BARA: The prime ministers of Nepal and India jointly inaugurated the trans-border petroleum pipeline constructed from Motihari of India to Amlekhgunj of Nepal on Tuesday. The pipeline was inaugurated by Prime Minister KP Oli from Kathmandu and Indian Prime Minister Narendra Modi from New Delhi through a remote control system.…


Record jump in India’s crude oil imports from Iraq, Nigeria, Saudi Arabia, and US

New Delhi- India has increased its reliance on crude oil from Iraq, Saudi Arabia, Nigeria, and the United States at a time when two of its major oil suppliers Iran and Venezuela are facing sanctions by the United States, fresh data published by commerce ministry showed. According to the data…


Oil prices down nearly 2 per cent as trade war shakes confidence

Tokyo- Oil prices fell on Monday, pushing U.S. crude to its lowest in more than two weeks, as a ratcheting up of tensions in the U.S.-China war knocked confidence in the global economy. Brent crude was down 89 cents, or 1.5%, at $58.45 a barrel by 0044 GMT, having earlier touched $58.24,…


India’s natural gas production growth flat in July 2019

New Delhi- India’s natural gas production growth in July this year remained flat at 2,718 Million Standard Cubic Meter (MSCM) mainly due to lower output from the onshore fields of Oil and Natural Gas Corporation (ONGC), fresh data published by the oil ministry showed. Gas production in the first four…


NOC fails to implement dual-pricing system in liquefied petroleum gas

Kathmandu- Though it has been more than eight years since the government announced about implementing dual-colour liquefied petroleum gas (LPG) cylinders in the market, the state-owned Nepal Oil Corporation (NOC) has not been able to enforce the said dual pricing in LPG owing to lack of enough homework and actual…


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