Category: Oil & Gas

Saudi Aramco began marketing a five-tranche U.S. dollar-denominated bond sale on Tuesday, as the world’s largest oil producer seeks cash after low oil prices dented its finances. The move is part of an onslaught on international debt markets by Gulf issuers seeking to plug finances hit by the pandemic and weak oil prices, which has […]

Shares of Bharat Petroleum Corporation Limited (BPCL) declined 5 per cent on the BSE in the intra-day trade on Tuesday as investors booked profit on report that at least three to four companies have submitted expressions of interest (EoIs) to the government for its stake sale in the company. In the past one month, stock […]

Saudi Aramco said on Monday it has hired a group of banks ahead of a multi-tranche U.S. dollar-denominated bond issuance, as the world’s largest oil company seeks to raise cash amid lower oil prices. The announcement comes as Gulf issuers show no sign of slowing this year’s blitz on international debt markets as they seek […]

Oil India Limited NSE 0.54 % (OIL) has made a hydrocarbon discovery at well Dinjan-1 in Tinsukia Petroleum Mining Lease (PML) in the upper Assam basin during 1st half of FY 2020-21. OIL stated the well encountered multiple sands in Kopili, Narpuh and Lakadong+Therria formations with a total net pay of about 10 m. On […]

Oil India Ltd, the nation’s second-largest state oil producer, on Friday said it has made a natural gas discovery at a well drilled in Tinsukia, Assam. “The discovery will open up new areas for further oil and gas exploration in Assam and would help in enhancing the gas production with future appraisal and development activities,” […]

India’s Petronet LNG Ltd has no plans to invest in liquefied natural gas (LNG) developers as the market is awash with cheaper fuel, its finance chief said, indicating it may shelve plans to invest in Tellurian Inc’s U.S. project. Petronet, the country’s top gas importer, has time until December-end to consider investing $2.5 billion for […]

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), on Wednesday announced the acquisition of Australian firm FAR Ltd’s stake in the USD 4.2-billion Sangomar oil project off Senegal’s shore for USD 45 million. In a statement, OVL said it has reached an agreement with FAR Senegal RSSD SA, a […]

Oil prices climbed over 1% on Wednesday, after an industry report showed U.S. crude inventories have fallen more than expected, while hopes of an effective COVID-19 vaccine continued to bolster sentiment. Brent crude futures were up 48 cents, or 1.1% to $44.09 a barrel at 0445 GMT, while U.S. West Texas Intermediate (WTI) crude futures […]

India’s transition to clean cooking fuels may be hampered by people’s belief that using firewood is better for their families’ wellbeing than switching to Liquefied Petroleum Gas (LPG), a new study says. According to the study, published in the journal Nature Energy, understanding differences in the perspectives of rural Indian women using different fuels is […]

A Joe Biden presidency could lead to resumption of Iranian oil supply to India, which would reduce prices, but any such move would take time and the US shale industry is likely to oppose steps that make oil cheaper, industry experts said. The US administration would continue to value India as a major energy market […]

Hinduja group-owned lubes maker Gulf Oil reported a 4.59 per cent decline in net profit at Rs 59.13 crore for the September quarter of this fiscal. The company had posted a net profit of Rs 61.98 crore in Q2FY20, according to a Gulf Oil release on Saturday. The net sales declined 2 per cent to […]

Vedanta Ltd’s oil and gas arm Cairn has got a further three-month extension of license for its prolific Rajasthan oil block pending settlement of a dispute over USD 520 million cost recovery. The license to explore and produce oil and gas from Barmer was due to renewal in May this year, but pending settlement of […]