American oilfield-service company Schlumberger Ltd’s lone bid for boosting production from Oil and Natural Gas Corporation’s (ONGC’s) older oil fields will have to meet certain parameters before getting a final nod. “Schlumberger is the lone bidder for the Geleki field (Assam). This is not the first time we will be working with a single bidder…The […]
Category: Oil & Gas
ONGC, OIL among 14 outfits to secure blocks in 2nd DSF bid round
The Empowered Committee of Secretaries (ECS) and Group of Ministers have approved the award of 23 blocks under the second Discovered Small Field bid round. Oil and Natural Gas Corporation (ONGC) has bagged five blocks while Oil India Limited (OIL) has cornered two. A joint venture of Indian Oil Corporation Limited (IOCL) and Hindustan Oil […]
‘Natural gas network to cover 70% of population’
More than 70 per cent of India’s population will have access to natural gas supplies after the completion of projects awarded under the 10th round of city gas distribution bids. Speaking at an event to distribute Letter of Intents to 12 successful entities for the 50 Geographical Areas (GAs) under the 10th CGD Bidding Round, […]
Natural gas networks to reach 70 per cent of India’s population: Pradhan
More than 70 per cent of India’s population will have access to natural gas services after the completion of projects awarded under the 10th round of city gas distribution bids. Speaking at an event to distribute Letter of Intents to 12 successful entities for the 50 Geographical Areas (GAs) under the 10th CGD Bidding Round, […]
Oil prices slip on weak demand
Amid weak physical demand and global cues, the downtrend in oils continued at Indore mandis with soy refined down to ₹768-₹770 for 10 kg. Soy solvent ruled at ₹735-₹740. Palm oil was at ₹680 (down ₹18), cotton oil (Gujarat) declined to ₹698 and cotton oil (Indore) to ₹735 (down ₹15) for 10 kg. Groundnut oil […]
Oil rises on OPEC supply cuts; surging US output and economic slowdown weigh
International Brent crude futures were at $66.55 per barrel, up 24 cents, or 0.4 per cent Oil prices rose on Friday as markets tightened amid output cuts by producer club Organisation of the Petroleum Exporting Countries (OPEC), but surging United States (US) supply and a global economic slowdown prevented crude from climbing further. US West […]
Oil dips as Asia factory output weakens, US crude production hits record
Oil prices fell on Thursday amid weakening factory output in China and Japan and record US crude output, although markets remained relatively well supported by supply cuts led by producer club OPEC. International Brent crude futures were at $66.04 per barrel at 0747 GMT, down 35 cents, or 0.5 per cent, from their last close. […]
ONGC to pay over Rs. 220 cr in arrears to Mumbai Port Trust on pipelines way leave fees
ONGC, weighed down by the government-directed acquisition of HPCL in 2018, is piling up further agony. The Tariff Authority for Major Ports (TAMP) has approved a proposal brought by the Mumbai Port Trust to levy a special way leave fee on ONGC pipelines passing through port limits and rent for a land parcel, including arrears […]
Oil slides as US crude production hits record, Asia factory output weakens
Oil prices dipped on Thursday, dragged down by weakening factory output in China and Japan and record US crude output, although markets remained relatively well supported by supply cuts led by producer club OPEC. International Brent crude futures were at $66.15 per barrel at 0248 GMT, down 24 cents, or 0.4 per cent from their […]
Oil advances with OPEC firm on supply cuts despite US pressure to ease
Oil prices rose on Wednesday after a report of declining US crude inventories and as producer club OPEC seemed to stick to its supply cuts despite pressure from US President Donald Trump. US West Texas Intermediate (WTI) crude oil futures were at $55.89 per barrel at 0755 GMT, up 39 cents, or 0.7 per cent, […]
IGL adding record number of PNG users this fiscal
Indrapastha Gas Ltd is on track to add over 2 lakh new piped natural gas (PNG) connections this fiscal. This will be the highest number of piped gas connections disbursed by the gas retailer in a year. Rapid rise “We will be closing the current financial year with the highest ever number of new connections […]
Saudi Arabia may raise April crude prices for Asia
Top oil exporter Saudi Arabia is expected to raise April prices for most of the crude grades it sells to Asia, following a strengthening of West Asian oil benchmark Dubai over the past month, several trade sources said on Thursday. The April official selling price (OSP) for flagship Arab Light crude could remain unchanged or […]