Us Shale Oil Gas

Daniel Yergin was at the St. Petersburg International Economic Forum in 2013 when he got a daunting request: Could he pose the first question from the audience to Vladimir Putin?

Howdy Modi: Prime Minister Narendra Modi's imminent visit to the US energy capital is fuelling speculation the second most-populous nation will further tap America's shale gas bonanza.

The Paris-based agency maintained its estimate for growth in global oil demand during 2019 at 1.1 million bpd and 1.3 million bpd for next year.

Market watchers are beginning to talk again about oil prices returning to $100 per barrel and more.

A meeting between the two men who run Russia and Saudi Arabia's oil empires spoke volumes about the new relationship between the energy superpowers. It was the first time that Rosneft boss Igor Sechin and Saudi Aramco chief Amin Nasser had held a formal meeting.

Reliance Industries (RIL), which on Tuesday reported its best-ever quarterly net income at Rs 7,290 crore on better refining margins, said it will continue to scale down capital expenditure (capex) for its struggling shale gas business in the US.

Reliance Industries on Wednesday said it has closed the deal to sell its entire 49.9 per cent interest in a US shale oil and gas pipeline joint venture to New York-listed Enterprise Products Partners for $1.073 billion.

U.S. crude futures for July shed 7 cents to $60.38 a barrel as of 0009 GMT after closing up 53 cents in the previous session.

The United States has overtaken Saudi Arabia as the world's biggest oil producer in 2014 while India has recorded the highest growth in energy consumption among major economies.

Oil prices rose above $64 per barrel on Tuesday as higher seasonal demand in developed economies and expectations of falling US shale production reduced the impact of a large global supply overhang.

Reliance, also dogged by falling production at its domestic oil and gas business, said it would focus on cutting costs in its shale operations in light of a "challenged" market outlook.

Front-month Brent crude futures were trading up 34 cents a $58.27 a barrel by 0106 GMT, while U.S. crude had risen 31 cents to $52.22.

Crude prices more than halved between June 2014 and January 2015, reflecting higher-than-expected oil and shale gas production in the US and lower demand in emerging markets coupled with OPEC's refusal to lower output.

Driven by a supply glut on the back of massive pumping out of shale gas by the US and supply increase by Iraq, Iran and also Russia, the oil prices have been falling drastically.

State-run firms Oil India Ltd and Indian Oil Corp have jointly bought a 30 per cent stake in Houston-based Carrizo Oil & Gas's Niobrara shale asset in Colarado for $82.5 million (Rs 427.93 crore), the companies said in a statement.

Daniel Yergin was at the St. Petersburg International Economic Forum in 2013 when he got a daunting request: Could he pose the first question from the audience to Vladimir Putin?

Howdy Modi: Prime Minister Narendra Modi's imminent visit to the US energy capital is fuelling speculation the second most-populous nation will further tap America's shale gas bonanza.

The Paris-based agency maintained its estimate for growth in global oil demand during 2019 at 1.1 million bpd and 1.3 million bpd for next year.

Market watchers are beginning to talk again about oil prices returning to $100 per barrel and more.

A meeting between the two men who run Russia and Saudi Arabia's oil empires spoke volumes about the new relationship between the energy superpowers. It was the first time that Rosneft boss Igor Sechin and Saudi Aramco chief Amin Nasser had held a formal meeting.

Reliance Industries (RIL), which on Tuesday reported its best-ever quarterly net income at Rs 7,290 crore on better refining margins, said it will continue to scale down capital expenditure (capex) for its struggling shale gas business in the US.

Reliance Industries on Wednesday said it has closed the deal to sell its entire 49.9 per cent interest in a US shale oil and gas pipeline joint venture to New York-listed Enterprise Products Partners for $1.073 billion.

U.S. crude futures for July shed 7 cents to $60.38 a barrel as of 0009 GMT after closing up 53 cents in the previous session.

The United States has overtaken Saudi Arabia as the world's biggest oil producer in 2014 while India has recorded the highest growth in energy consumption among major economies.

Oil prices rose above $64 per barrel on Tuesday as higher seasonal demand in developed economies and expectations of falling US shale production reduced the impact of a large global supply overhang.

Reliance, also dogged by falling production at its domestic oil and gas business, said it would focus on cutting costs in its shale operations in light of a "challenged" market outlook.

Front-month Brent crude futures were trading up 34 cents a $58.27 a barrel by 0106 GMT, while U.S. crude had risen 31 cents to $52.22.

Crude prices more than halved between June 2014 and January 2015, reflecting higher-than-expected oil and shale gas production in the US and lower demand in emerging markets coupled with OPEC's refusal to lower output.

Driven by a supply glut on the back of massive pumping out of shale gas by the US and supply increase by Iraq, Iran and also Russia, the oil prices have been falling drastically.

State-run firms Oil India Ltd and Indian Oil Corp have jointly bought a 30 per cent stake in Houston-based Carrizo Oil & Gas's Niobrara shale asset in Colarado for $82.5 million (Rs 427.93 crore), the companies said in a statement.