Category: Oil & Gas

Indian government subsidies for fossil fuels, including oil and gas, have decreased by 76% over the three years to 2017, but subsidies for the coal industry have remained stable over the same period, a new study by think-tank International Institute for Sustainable Development (IISD), has found. India, the world’s second largest consumer of coal and […]

A pledge by India to reduce trade imbalance through greater crude imports, US firms’ concerns on the new e-commerce policy and retaliatory tariffs imposed by both nations will dominate the agenda on February 14, when officials sit down for the India-US Commercial dialogue. Being held after a hiatus of a year, the annual talks will […]

Abu Dhabi National Oil Company (ADNOC) will look for more opportunities in India’s downstream segment as it plans to expand its contribution to the country’s strategic oil reserves, the company’s chief executive officer said on Monday. The company is in talks with strategic partners for downstream opportunities in India. ADNOC also is expected to partner […]

Crown Prince of Saudi Arabia Mohammad bin Salman will embark on a two-day visit to Islamabad on Saturday (February 16), Saudi Ambassador to Pakistan Nawaf bin Said Al-Maliki said on Monday. Geo News reported that a large delegation comprising of the former’s security team has already arrived in Pakistan on Monday to review security arrangements […]

OPEC Secretary-General Mohammad Barkindo said the exporting group was not in the business of fixing oil prices when asked on Monday to comment on a U.S. House committee passing a bill targeting OPEC oil supply cuts. A US House of Representatives committee approved a bill on Thursday that would open up the Organization of the […]

Mukesh Ambani-led Reliance Industries (RIL) and its partner BP are likely to stop production at the D1 and the D3 fields of KG-D6 block in six to nine months due to a decline in the output. RIL has already informed the Directorate General of Hydrocarbons (DGH) about its decision to stop gas production in the […]

Petronet LNG’s plan to build a liquefied natural gas (LNG) facility at Maheshkhali island in Cox’s Bazar district of Bangladesh through a government-to-government deal has been put on the back burner. Bangladesh has instead asked India to bid in the ongoing round for an LNG regasification terminal at Matarbari, also Cox’s Bazar. An expression of […]

Oil exporters have not fully recovered from the dramatic oil price shock of 2014, the head of the IMF said on Saturday, and she cautioned against spending money on “white elephant projects”.

Oil marketing major Indian Oil Corporation Ltd (IOCL) has started exporting products to countries like Bangladesh, Sri Lanka, Malaysia, Singapore and Myanmar from its 15-million-tonne crude oil refinery at Paradip.

The government plan to offer PSUs special incentives for natural gas discoveries in difficult and unviable areas will help raise India’s natural gas production as it will unlock output in a dozen fields of state-owned ONGC and OIL, officials said Sunday.

The latest edition of India’s strategic hydrocarbon event — Petrotech-2019 — takes off on Sunday in the National Capital Region. The biennial event, expected to see participation from 70 countries, comes at a time when India is seeking from the US an extension of waiver on oil imports from Iran while also trying to align […]

India on Sunday launched its third round of petroleum and natural gas auctions under the open acreage licencing policy (OALP) in which a total of 23 blocks are up for bidding by global oil and gas majors. Interestingly, this comes at a time when production from OALP-1 is expected to start only in 2025.