Saturday, August 15, 2020

Oil India News

Two Firefighters Die in Fire at Oilfield in India

Illustration only: Image by prathaan - AdobeStock

Two firefighters from Oil India have died while trying to put out a massive blaze at an oilfield operated by the state-run explorer in India's northeastern Assam state, officials said on Wednesday.Oil India had…

Oil India's Baghjan Well Catches Fire

For illustration only - Credit - elephotos/AdobeStock

An ongoing gas leak at state-run oil and gas explorer Oil India Ltd's Baghjan well in the eastern India state of Assam caught fire on Tuesday, the company said in a statement.Oil India suspended operations at…

India Gets 8 Bids for 7 Onshore Blocks

India has received 8 bids for 7 onshore oil and gas exploration blocks under the latest auction, a government statement said.State-run Oil and Natural Gas Corp has submitted bids for all 8 blocks.State-run Oil India has put in a bid for 1 block.(Reporting by N

India, S. Arabia in New Petro Relationship

Indian Prime Minister, Narendra Modi meeting the King Salman bin Abdulaziz Al Saud of Saudi Arabia, in Riyadh, Saudi Arabia on October 29, 2019. Photo: PIB

India and Saudi Arabia have decided to expand its ‘energy relationship’ into next phase to include Saudi partnership in building additional crude oil storage reserves in India, a new refinery on the west coast…

Anadarko Approves $20 Bln Mozambique LNG Project

(File photo: Anadarko)

U.S. energy firm Anadarko Petroleum Corp gave the go-ahead on Tuesday for the construction of a $20 billion gas liquefaction and export terminal in Mozambique, the largest single LNG project approved in Africa…

Anadarko Nearing FID for Mozambique LNG

© Mark Rubens / Adobe Stock

U.S. independent energy producer Anadarko moved closer to a final investment decision (FID) to build a giant liquefied natural gas (LNG) terminal in Mozambique after signing up an Indian buyer for the gas and…

India Plots Exploration Licensing Round

(Image: India's Directorate General of Hydrocarbons)

India will start auctioning for 14 oil and gas blocks in its second exploration licensing round on Monday, giving freedom to the companies to carve out areas they want to drill.The blocks together hold undiscovered reserves of about 14,995 million tonnes of oi

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…

India's Vedanta Wins 41 Blocks in Small Field Auction

© Sergiy Serdyuk / Adobe Stock

India's Vedanta Wins 41 Blocks in Small Field Auction* Billionaire Anil Agarwal-led Vedanta Ltd has won 41 of the 55 blocks auctioned under India's first licensing round for small discovered fields-India's upstream regulator* State-run Oil India has won nine b

India Offers Incentives to State-owned Oil and Gas Firms

© weerasak / Adobe Stock

Oil and Natural Gas Corp Ltd and Oil India Ltd will pay royalty and cess tax only to the extent of their equity holding in oil and gas blocks given to them before 1999, Indian Oil Minister Dharmendra Pradhan said…

India to Auction 60 Small Discovered Oil, Gas Fields

India will auction 60 discovered small oil and gas fields with the potential to produce 194.65 million tonnes of oil and oil equivalent gas, the government said in a tweet after a cabinet meeting. Blocks that…

Israel Takes Bids for Offshore Exploration

Israel said on Wednesday it received bids to explore for oil and gas in its economic waters from Greece's Energean and a consortium of Indian firms including ONGC Videsh, Bharat PetroResources , Indian Oil Corp and Oil India.

Cairn Oil and Gas to Invest $4.6 bln in New Exploration

Cairn Oil and Gas, part of Vedanta Ltd, will invest 300 billion rupees ($4.6 billion) in exploration projects off India's east coast and in the onshore fields of Barmer in the west, its acting CEO said. The company…

India to Buy $1 Billion of US Crude Oil

New Prosperity crude carrier will deliver the first shipment of US crude to India's Paradip port (Odisha, India) in the last week of September. (Image: India House)

Following Indianan Prime Minister Narendra Modi’s June 2017 visit to the U.S., where President Donald Trump and PM Modi agreed to deepen the energy engagement between the two countries, India oil companies have…

India Looks at Creating Oil Giant to Take on Global Rivals

India plans to create a giant oil company by combining state-owned firms, finance minister Arun Jaitley said on Wednesday, as the world's third largest oil consumer looks to better compete with global majors in acquiring foreign assets.

Douglas-Westwood: Nowhere Fast

Reserve Replacement Ratio by Company 2010-2015 (Source: Douglas-Westwood Company Reports)

E&P deepwater exploration and appraisal activity has dramatically declined. In line with falling E&A activity, Reserve Replacement Ratios (RRRs) have been declining for the majority of major E&P companies. Douglas…

India Gets Muted Response to Small Discovered Field Auction

India's first auction of small discovered fields drew a tepid response with local firms dominating the auction for operating assets estimated to hold 625 million barrels of oil and oil equivalent gas. India has received 134 bids from 42 companies…

India's ONGC says Venezuela's PDVSA to Supply Oil

Venezuela's national oil company Petroleos de Venezuela has agreed to supply oil on a monthly basis to India to help settle dues which Venezuela owes to India's Oil and Natural Gas Corp. Ltd, ONGC Chairman D K Sarraf said on Thursday.

Indian Consortium to Pay $2.1 bln for Stake in Rosneft's Vankor

A consortium of Indian oil companies will pay just over $2 billion for a 23.9 percent stake in Russian oil producer Rosneft's Vankor oil field, Interfax news agency cited sources as saying on Friday. The deal…

India's ONGC Sees Higher Output This Year

India's Oil and Natural Gas Corp Ltd (ONGC) said on Friday it expects output to rise this financial year as it invests billions of dollars in ramping up production from its ageing fields. India's biggest exploration…