Latest news with #petroleum
Bloomberg
4 hours ago
- Business
- Bloomberg
Trump Moves to Lift Biden-Era Curbs on Arctic Oil Drilling
The Trump administration is moving to repeal Biden-era curbs blocking oil drilling across most of the mammoth petroleum reserve in Alaska that's home to an estimated 8.7 billion barrels of recoverable oil. Interior Secretary Doug Burgum announced the planned policy shift late Sunday at a town hall in Utqiagvik, a village on the Chukchi Sea coast, as he and fellow members of President Donald Trump's cabinet visit Alaska to promote energy development in the region.
Reuters
3 days ago
- Business
- Reuters
US crude oil output hit record high in March, while demand fell, says EIA
May 30 (Reuters) - U.S. crude oil output rose to a monthly record high in March, while demand for oil products declined to the lowest in a year, the U.S. Energy Information Administration (EIA) said in its Petroleum Supply Monthly (PSM) report on Friday. U.S. crude output rose to 13.488 million barrels per day (bpd) in March, up from 13.159 million bpd in February and the prior all-time high of 13.450 million bpd in October 2024. U.S. product supplied of crude oil and petroleum products, a measure of demand, fell to a 12-month low of 19.950 million bpd in March, down from 20.225 million bpd in February. That was the lowest product supplied since March 2024 and compares with a monthly record high of 21.666 million bpd in August 2005.
Times of Oman
3 days ago
- Business
- Times of Oman
Govt has taken measures to keep oil prices in control for consumers: Hardeep Puri
New Delhi: Union Minister for Petroleum and Natural Gas, Hardeep Puri on Friday highlighted how is India able to keep prices for oil in control through calibrated policy measures, including excise duty cuts and collaboration with state governments on VAT reductions. Puri mentioned that the government had reduced the cess on petrol and diesel in November 2021 and May 2022, leading to price reductions of Rs 13 and Rs 16 per liter, respectively. He attributed this to the combined efforts of the central and state governments in reducing taxes. "The excise duty shares are imposed by we reduced the Cess in November 2021 and May 2022, state govt also reduced their VAT, and that's why we were able to reduce the price of petrol and diesel, respectively, by Rs 13 and Rs 16 a liter," the minister said after the CII Annual Business Summit 2025. The minister outlined the factors that influence fuel prices, including global prices, insurance costs, and refining margins. He suggested that if global prices remain stable, further price reductions could be expected. He further added, "If prices are determined by global prices, to that you add cost of prices remain like this, going forward, these are the things that you can legitimately expect." While speaking at the CII summit, the minister emphasized on the availability of crude from the western Hemisphere countries such as such as Brazil, Guyana, Suriname, and Canada. He noted that despite OPEC+ production cuts, global supply is rebounding with incremental output restorations. Apart from the he also commented about the India's strategic tie up. He said, "what we've done is we've diversified from 27 countries from which we imported to about 40 now. We bought consignments from Argentina also." He also believes that, during tough times India has been able to navigate reasonable well and he further mentions that, "and I have total confidence in going forward with more energy being available, we will be able to navigate it further also."
Globe and Mail
3 days ago
- Business
- Globe and Mail
Jura Announces Release of Interim Filings
CALGARY, Alberta, May 29, 2025 (GLOBE NEWSWIRE) -- Jura Energy Corporation ('Jura') (TSXV: JEC) today announced the filing on SEDAR of its condensed consolidated interim financial statements as at, and for the three months ended March 31, 2025 and 2024, and its Management's Discussion and Analysis for the first quarter of fiscal year 2025. About Jura Energy Corporation Jura is an international energy company engaged in the exploration, development and production of petroleum and natural gas properties in Pakistan. Jura is based in Calgary, Alberta, and listed on the TSX-V trading under the symbol JEC. Jura conducts its business in Pakistan through its subsidiaries, Frontier Holdings Limited and Spud Energy Pty Limited. FOR FURTHER INFORMATION, PLEASE CONTACT: Stephen Smith, Chairman, Jura Energy Corporation Tel: +44 7834 834 976 Website: E-Mail: info@ Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Bloomberg
5 days ago
- Business
- Bloomberg
Russia's Fuel Exports Hit 3-Month High on Diesel, Fuel Oil Boost
Russia's exports of refined fuels in May are on track to reach a 3-month high as increased diesel and fuel oil shipments more than compensated for a slowdown in naphtha and other secondary feedstock fuel flows. Seaborne shipments of petroleum products totaled 2.23 million barrels a day through May 24, according to data compiled by Bloomberg from analytics firm Vortexa Ltd. That's the highest since February and 4% more than April's daily average.
