Indian Oil Corporation Ltd (IOCL) said it is in initial talks with Saudi Aramco on downstream investments, including a mega project on its west coast, that could help the OPEC member lock-in customers amid an oil supply glut. Oil producers are targetting growing demand in Asia to boost market share after rising US shale oil […]
Day: May 8, 2017
Attractive valuation, improving prospects turn analysts positive on ONGC
After a long time, the street is abuzz with news of improving output at Oil and Natural Gas Corporation Limited (ONGC). For a company which has not seen its oil and gas production grow much over past few years, sustained rise in gas production is positive. The initial boost to output is expected from ONGC’s […]
Saudi energy minister says may extend oil output cuts beyond 2017
Saudi Arabia’s energy minister Khalid Al-Falih said on Monday that oil markets were rebalancing after years of oversupply, but that he still expected an OPEC-led deal to cut output during the first half of the year to be extended to all of 2017. The Organization of the Petroleum Exporting Countries (OPEC), of which Saudi Arabia […]