MOSCOW: Russia plans to launch a programme to part build oil wells this year so it can quickly ramp up production when the global deal on output curbs expires in 2022, RIA news agency quoted senior officials as saying on Thursday. To ensure Russia does not lose market share when the production cut agreement ends,…
New Delhi: Oil & Gas drilling company Weatherford International plc announced it has signed a Memorandum of Understanding (MoU) with Safe Influx, that provides automated well control technology, to boost well integrity in the construction phase of projects. The pact aims at integrating Managed Pressure Drilling (MPD) solutions with Automated Well Control technology. The joint…
NEW DELHI: No company has expressed interest for a hydrocarbon exploration permit in the latest licensing rounds in the country.The sixth and seventh licensing rounds, which ran between December and July, attracted no explorer as the pandemic clouded prospects for the oil sector, restricted mobility, and kept oil company executives busy with their operational challenges.…
24 Sept. 2020-The pandemic has been devastating for the oil industry globally. Explorers suspended drilling, producers idled wells, Big Oil majors put up assets for sale. But the world continues to need oil, albeit lower amounts of it than a year ago, and it will continue to need it. Exploration is not dead. It is…
24 Sept. 2020-When the first round of auctions for discovered small fields (DSF-I) took place in 2016, the event was described as the entry point for India’s future oil and gas barons. Indeed, promoters and executives from companies in sectors as diverse as steel, power, software, iron ore, textile and education turned up to bid.…
23 Sept. 2020-MUMBAI: India’s natural gas production fell 13.2% during April-August compared to a 1% fall registered in the corresponding period last fiscal, said Care Ratings in a note.The cumulative fall in production was primarily a result of restricted or negligible offtake by consumers due to the pandemic and ensuing lockdowns. While domestic production from…
23 Sept. 2020-The Ministry of Petroleum and Natural Gas (MoPNG) is coming up with a fresh strategy to increase hydrocarbon production in the country. It is likely to open bidding for production enhancement contracts (PECs) of old oil blocks of Oil India (OIL) and Oil and Natural Gas Corporation (ONGC). It is also planning to…
The Gambia government on Saturday 19 September 2020 signed a 30 years Oil and Gas Exploration deal with PetroNor, an Axis of Oslo listed Stock Exchange Market Oil and Gas Company for A4 block. The signing comes after three years of legal battle between The Gambia government and African Petroleum Gambia Limited at the International…
NEW DELHI: India saved over Rs 5,000 crore when the country in April-May used two-decade low international oil prices to fill up its three strategic underground crude oil storages, Petroleum Minister Dharmendra Pradhan said on Monday.India, the world’s third-biggest oil importer, has built strategic storages in underground rock caverns at three places to meet any…
Much ink has been spilled about the downfall and dubious recovery of the United States shale oil sector. The West Texas Intermediate (WTI) crude benchmark’s dramatic rock bottom in April, which saw oil prices plunge to nearly $40 dollars below zero in a jaw-dropping first, a flurry of think pieces about the sector’s future poured…
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