MUMBAI: India’s gas output will rise 25% this year to 95-100 million metric standard cubic metres a day (mmscmd), led by production from fields jointly owned by Reliance Industries (RIL) and BP plc, and from that of state-run Oil and Natural Gas Corporation Ltd (ONGC).The RIL-BP joint venture started production from the new R…
India, the world’s third biggest oil importer and consumer, on Tuesday complained that recent output cuts by some OPEC nations had created uncertainty for customers and led to a surge in prices. Top exporter Saudi Arabia has pledged additional voluntary output cuts of 1 million barrels per day (bpd) in February and March…
Shell Energy India, a leading diversified energy company opened its first small-scale LNG supply infrastructure, a truck loading unit at its LNG terminal in Hazira, Surat. The virtual inauguration was done by the Union Minister for Petroleum, Natural Gas and Steel, Dharmendra Pradhan.The company says this will now augment its natural gas supply offerings…
“Crude producers continue to grapple with huge uncertainty about where this goes from here,” Tim Gould, the International Energy Agency (IEA) head of energy supply outlooks and investment, told the press last week. The Organization of Petroleum Exporting Countries (OPEC) agrees. “Uncertainties remain high going forward with the main downside risks being issues…
The Secretary General, Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, has said that given the very bad experience of 2020, the worst part of the crisis in the global oil market has been put behind it by the oil and gas industry. Barkindo spoke while participating via video-conference at the 11th…
Abu Dhabi National Oil Co. formed an alliance with Mubadala Investment Co. and ADQ to produce hydrogen from renewable energy, known as green hydrogen. Abu Dhabi’s government-run oil company is teaming up with two of its sovereign wealth funds to turn the petroleum-rich emirate into an exporter of blue and green hydrogen. Abu…
Representatives of fuel suppliers to Venezuela, importers of Venezuelan oil and advocacy groups said this month they plan to press the incoming administration of U.S. President-elect Joe Biden to reverse a ban on crude-for-diesel swaps. The Trump administration since the last quarter of 2020 has barred companies from sending Venezuela diesel in exchange…
The Council of Canadians and Offshore Alliance is calling for a moratorium on offshore drilling and exploration in the wake of the renewal of British Petroleum Canada exploration licences off Nova Scotia on Friday. “The offshore petroleum board is letting BP call the shots about our climate,” Robin Tress with the Council of…
OPEC oil producer Kuwait intends to allocate an additional $200 million for a project to expand Jurassic gas facilities in its Northern region close to the border with Iraq, a local newspaper reported on Sunday. Kuwait, one of the world’s largest oil exporters, awarded a $377-million contract for the development of Jurassic gas…
Use of an improper gasket procured from the local market has been identified as a probable cause of leak which led to the massive fire at ONGC’s Hazira gas plant in the early hours of September 24, 2020, according to a report by an enquiry committee set up by the Petroleum and Natural Gas…
English
Arabic
Chinese (Simplified)
Gujarati
Hindi
Marathi
Persian