Friday, December 14, 2018

India News

Petronet Seeks Long-term Deal to Buy US LNG

© Anatoly Kolodey / Adobe Stock

Top Indian gas importer Petronet LNG is looking to sign a deal in a year's time to buy at least 1 million tonnes of U.S. natural gas annually for a period of up to 10 years, as it pushes to diversify its supply sources beyond the Middle East.As part of any deal, the firm could potentially take a stake in a U.S. liquefied natural gas (LNG) project, said Petronet's managing director, Prabhat Singh."The U.S.

Strategic Appointment for Carlton Resource Solutions

Doug Robertson (Photo: Carlton)

Carlton Resource Solutions has strengthened its senior management team with the addition of a highly experienced director to a key strategic role.With 22 years’ experience in oil and gas recruitment, Doug Robertson has joined the Aberdeen-based business as operations director with a remit to enhance the firm’s capabilities through his expertise both in the UK and internationally.Carlton…

Oceaneering Enhances Asset Integrity Capabilities

Oceaneering International, Inc. announced it has bolstered its expanding asset integrity business in Chandigarh, India with more capabilities. The engineering support team is expected to grow to around 30 full time engineers by the end of 2019.Chirag Jayswal has been appointed senior integrity engineering manager. With Oceaneering since 2010, he will transition…

Global LNG to be Major Part of Bunker Fuel Market

Pic: Gasum Oy

Liquefied natural gas (LNG) ships is expected to be the major application segment in the global LNG as a bunker fuel market.According to a market research report, LNG fueled ships emit zero sulphur oxide emissions along with decline in carbon dioxide gas release by 25%, these are primary factors promoting the use of LNG as fuel in marine transport.LNG is used as a marine fuel and it offers various advantages for the ships.

Norway's Equinor strikes LPG Deal with Malaysia

Image: Equinor

Norwegian oil and gas firm Equinor has entered into a long-term agreement with Malaysia's Global Petro Storage for a terminal and storage for liquified petroleum gas (LPG) volumes in Port Klang, in South-East Asia.According to statement from the petroleum and wind energy company, GPS will build a new facility to execute this agreement with startup of operations planned for mid-2021.

​​​​Russian Oil Firm Signs Initial Exploration Deal with South Sudan

Russia's Zarubezhneft has signed a memorandum of understanding with South Sudan to explore four oil blocks, South Sudan's petroleum minister said on Tuesday.The company was awaiting more information on the blocks from the Petroleum Ministry before starting exploration, Petroleum Minister Ezekiel Lol Gatkuoth told Reuters.Other foreign firms active in South Sudan's oil industry include China National Petroleum Corporation (CNPC), Malaysia's P

Oil Markets Face Unprecedented Uncertainty

Fatih Birol (Photo: IEA)

Oil markets are entering an unprecedented period of uncertainty due to geopolitical instability and a fragile global economy, the head of the International Energy Agency said on Tuesday.Concerned about an emerging production overhang similar to the one that led to a price slump in 2014, the Organization of the Petroleum Exporting Countries is pushing for…

MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL

(L-R) Ben Oudman, Regional Manager, Central Europe, Middle East and India, DNV GL - Oil & Gas and Jan Zschommler, Manager, Middle East, DNV GL - Oil & Gas. Pics: DNV GL

The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa (MENA) region will remain the main…

Oil Gains Despite Potential Supply Glut on the Horizon

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Oil rose on Thursday, steadying after losing nearly 7 percent over the previous three days, though concern about the prospect of an oversupplied market next year continued to weigh on prices despite OPEC's message that it may cut crude output.The Organization of the Petroleum Exporting Countries (OPEC), led by Saudi Arabia, is considering a cut of up to 1.4…

India's African Oil Imports Hit 3-year High

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India's oil imports from Africa in October rose to their highest level since August 2015, after a fall in Brent's premium to Dubai swaps made African crude more attractive, tanker arrival data from industry sources showed.India's overall imports in October rose 14.1 percent from a year earlier to 4.7 million barrels per day (bpd) with shipments from Africa more than doubling to 874…

India Publishes Draft Wind Turbine Certification

Image: National Institute of Wind Energy

India's Ministry of New and Renewable Energy (MNRE) has issued a draft scheme on wind turbines in India. Known as the ‘Indian Wind Turbine Certification Scheme’ (IWTCS), the draft has been prepared in consultation with the National Institute of Wind Energy (NIWE), Chennai."The IWTCS is a consolidation of relevant National and International Standards (IS/IEC/IEEE)…

Saudi Aramco, ADNOC to Cooperate on LNG

Saudi Aramco and ADNOC MoU signing ceremony. Photo: Saudi Aramco

The state-owned energy giants of Saudi Arabia and the United Arab Emirates, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), signed a cooperation deal to explore potential areas for mutual collaboration in the LNG value chain aimed at bolstering gas production and revenue.The Saudi Arabian national petroleum and natural gas company based in Dhahran…

Oil Gains after Saudi Paves the Way for an Output Cut

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Oil rose by more than 1 percent on Monday, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day.Saudi Arabia, the world's largest oil exporter, said on Sunday it would cut its shipments by half a million barrels per day in December…

Afghan Launches India-Iran Shipping

Map: Strategic Frontier Research for Defence

Afghan Ministry of Transportation will soon launch a commercial shipping line with the assistance of the Islamic Republic of Iran to conduct business activities between Chabahar Free Trade Zone and India.IRNA reported quoted the Afghan Ministry of Transportation as saying that the shipping sector would soon be formed and the ships could operate commercial…

Vedanta Granted Rajasthan Extension

The Government of India, acting through the Directorate General of Hydrocarbons, Ministry of Petroleum and Natural Gas has granted its approval for a 10-year extension of the Production Sharing Contract (PSC) for Vedanta subsidiary Cairn, Oil & Gas at the onshore Rajasthan Block RJ-ON-90/1.The tenure of the RJ Block PSC, which was due to expire on May 14…

Oil Up as U.S. Imposes Sanctions on Iran

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Oil prices recovered some ground on Monday after five days of heavy losses as the United States imposed a range of punitive sanctions on Iran, aiming to curb exports by the Islamic Republic, including its sales of fuel.The move is part of a wider effort by U.S. President Donald Trump to curb Iran's missile and nuclear programmes and diminish its influence…

Israel Exploring Eastern Mediterranean

(Image: Israel Ministry of Energy)

Israel will tender off 19 new offshore blocks to oil and gas companies, its energy ministry said on Sunday, hoping to rebound from a disappointing bidding round a year ago.Israel discovered in 2009 that it had large reserves of natural gas off its Mediterranean coast.It will publish details of the tender by the end of the month and, about half a year later…

US Grants Temporary Iran Oil Waivers to Eight Countries

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The United States has granted exemptions to eight countries allowing them to temporarily continue buying Iranian oil, Secretary of State Mike Pompeo said on Monday, as Washington reimposed sanctions on Iran's banking, energy and shipping industries.Some of the eight countries - China, India, Greece, Italy, Taiwan, Japan, Turkey and South Korea - include OPEC member Iran's top customers.Pompeo said more than 20 countries have already cut thei

Siemens Gamesa Bags Orders for 176.8MW Wind Projects in India

Image: Siemens Gamesa

Siemens Gamesa (SGRE), a renewable energy project developer and an Engineering Procurement Construction (EPC) provider, has won turnkey contract from renewable energy project developer ReNew Power for the development of two wind projects aggregating 176.8 MW in India.One order is for construction of a 100.8 MW wind farm in Gujarat's Kutch district and another for a 76 MW wind farm in Maharashtra's Osmanabad district…

Oil Refiners Face Rollercoaster Ride as Fuel Margins Seesaw

© Zhu Difeng / Adobe Stock

Oil product margins have been tossed around on a wild rollercoaster ride in October, as factors like impending Iran sanctions, the China-U.S. trade war and upcoming shipping regulations yank fuel profits up, down and back again.Some profit margins, known as crack spreads in the industry, including for Asian fuel oil and gasoil have boomed, while others, such as Asian and European gasoline cracks…