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India’s Oil and Natural Gas Corporation has begun a campaign to boost oil and gas production through well optimization and accelerating the start of production at recently made discoveries, the company has said, as quoted by Fortune India.ONGC produces some 70% of India’s crude oil and 84% of its natural gas. However, the company has witnessed a gradual decline in both oil and gas production due to natural depletion, which it wants to reverse in order to boost self-sufficiency in hydrocarbons.Between 2020 and 2025, ONGC’s crude oil production declined from 22.533 million metric tons to 20.892 million metric tons, while…

Commodities were also somewhat subdued; Spot Gold (XAU/USD) and Spot Silver (XAG/USD) were muted, while WTI Oil (West Texas Intermediate) rallied 0.5%. White House Meeting All eyes were on the meeting between Ukrainian President Volodymyr Zelenskiy, US President Donald Trump, and Ukraine’s European allies at the White House. Trump outlined plans for a bilateral meeting between Zelenskiy and Russian President Vladimir Putin, which will be followed by a trilateral meeting involving the two leaders and Trump. Amidst all the niceties and suits, Trump committed to US involvement in providing security guarantees for Ukraine as part of any peace agreement, but…

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ISLAMABAD (AP) — Pakistan restored 70% of electricity and reopened damaged roads in the north and northwest after flash floods killed more than 300 people, officials said Tuesday.Information Minister Attaullah Tarar told a news conference that engineers were working to fully restore the electricity system that was knocked out by flooding last week.Most roads have been cleared, facilitating the supply of food and other essential items to flood-affected areas, he said. Prime Minister Shehbaz Sharif ordered authorities to accelerate recovery efforts in Buner, a district in Khyber Pakhtunkhwa province, where torrential rains and a cloudburst Friday killed at least 280…

Santos Ltd. said Tuesday newly revealed approvals would delay the process for a consortium led by Abu Dhabi National Oil Co. PJSC (ADNOC) to progress its proposed takeover of the Australian company to a binding agreement. Earlier Santos granted the consortium of sovereign investor Abu Dhabi Development Holding Co., Carlyle Group and ADNOC’s global investment arm XRG PJSC more time to conduct due diligence. The “process and exclusivity deed” signed June 27 between Santos and the group has been extended to August 22. “The Process Deed governs the basis upon which the XRG consortium will have the opportunity to undertake…

The U.S. Department of Agriculture has banned the use of farmland for the construction of solar installations, effective immediately.Agriculture Secretary Brooke Rollins announced the decision on X, saying, “Millions of acres of prime farmland is left unusable so Green New Deal subsidized solar panels can be built. This destruction of our farms and prime soil is taking away the futures of the next generation of farmers and the future of our country.”“Starting today, @USDA will no longer deploy programs to fund solar or wind projects on productive farmland, ending massive taxpayer handouts. Also ENDING the use of panels made by…

Initiatives underway to reduce European sustainability reporting and due diligence reporting requirements could limit the European Central Bank’s capability to manage climate risk in the financial system, according to a letter sent by ECB President Christine Lagarde to European Parliament lawmakers. The letter comes as lawmakers prepare to debate the European Commission’s Omnibus I package, aimed at significantly reducing the sustainability reporting and regulatory burden on companies, with proposals for major changes to a series of regulations including the CSRD, the Corporate Sustainability Due Diligence Directive (CSDDD), as well as the Taxonomy Regulation, and the Carbon Border Adjustment Mechanism (CBAM).…

Oil refiners in China have stepped up purchases of Russia’s flagship crude, seizing an opportunity to take discounted cargoes relinquished by India as Washington ramps up trade tariffs against New Delhi.While China is the largest importer of Russian oil, it tends to take deliveries from the nation’s Far East. Yet so far in August, shipments of Urals — which loads from Baltic and Black Sea ports — were almost 75,000 barrels a day. That’s almost double the year-to-date average of about 40,000 barrels, according to Kpler. In contrast, exports to India sunk to no more than 400,000 barrels a day…

Oil refiners in China have stepped up purchases of Russia’s flagship crude, seizing an opportunity to take discounted cargoes relinquished by India as Washington ramps up trade tariffs against New Delhi. While China is the largest importer of Russian oil, it tends to take deliveries from the nation’s Far East. Yet so far in August, shipments of Urals – which loads from Baltic and Black Sea ports – were almost 75,000 barrels a day. That’s almost double the year-to-date average of about 40,000 barrels, according to Kpler. In contrast, exports to India sunk to no more than 400,000 barrels a day this…

Autumn is the “season of mists and mellow fruitfulness”, according to the poet John Keats – but anyone hoping for a glut of blackberries this September may be sorely disappointed.In many parts of the UK brambles have been bursting with fruit since mid-summer, with some now bearing only shrivelled berries. And it is not the only hallmark of autumn that appears to have come early: trees are dropping their leaves, apples are ripe and acorns are hitting the ground.But with temperatures still high, experts say this is not simply a case of an early fall. Instead, they say, nature is…