State-owned ONGC thought the discovery is too small to make economic sense. But Hindustan Oil Exploration Company (HOEC) in two years of taking over the B-18 block has not just discovered more resources but has invested enough to start oil and gas output from April next year. In an interview to PTI, HOEC Read more

    Vijayawada: The Cairn Oil & Gas, a division of Vedanta Limited, is all set to begin oil and natural gas exploration in Krishna district. The Oil and Natural Gas Corporation (ONGC) has already completed the ground work and identified the drilling area for the purpose. The ONGC had drilled three exploratory wells back Read more

  MOSCOW  – Lukoil plans to sell its 50% stake in Turgai Petroleum, its oldest oil asset in Kazakhstan, as Russia’s No 2 producer seeks to boost its revenues by focusing on more profitable fields, four industry sources told Reuters on Friday.   Lukoil, Russia’s top private oil company, entered neighbouring Kazakhstan in 1995, but Read more

  Hindustan Oil Exploration Company Limited (HOEC) on Friday increased its participating interest in Block-80 field to 60% from 50% and has also secured a medium-term loan facility of Rs150cr.   In its regulatory filing, HOEC informed that a Deed of Assignment and Assumption is executed with Adbhoot Estates Private Limited (Adbhoot) for assigning 10% Read more

    Vijayawada: The Cairn Oil & Gas, a division of Vedanta Limited, is all set to begin oil and natural gas exploration in Krishna district. The Oil and Natural Gas Corporation (ONGC) has already completed the ground work and identified the drilling area for the purpose. The ONGC had drilled three exploratory wells back Read more

    BRUSSELS, European Union leaders are set to agree sanctions on Turkish individuals on Thursday over a energy exploration dispute with Greece and Cyprus, but will postpone any harsher steps until March, according to a new draft summit statement.   Shying away from a threat made in October to consider wider economic measures, EU Read more

    The Trump administration on Thursday will hold a sale of oil and gas leases on federal land in California for the first time in eight years despite widespread opposition to the auction in the Democratic state, including from its governor.   The U.S. Bureau of Land Management will offer seven parcels covering 4,100 Read more

  Pan American Energy and YPF, two of the biggest oil and natural gas producers in Argentina, plan to step up gas drilling as a new incentives program boosts the profit potential in the business, executives said Nov. 18. “We are returning to drill for gas,” Santiago Tanoira, vice president of gas and energy at Read more

  Union Petroleum Minister Dharmenda Pradhan Thursday said he will soon visit Ashoknagar in West Bengal, the site of oil and gas discovery and review the project. Oil and gas was discovered at Ashoknagar in North 24 Parganas district two years ago. Pradhan said he was briefed by ONGC that the site holds potential for Read more

No public consultations were held before granting environmental clearance for the proposed drilling operations inside Assam’s Dibru-Saikhowa National Park, Oil India Limited (OIL) said in an affidavit filed in the Gauhati high court on Tuesday. OIL maintained that existing rules do not require it to conduct public consultations and added that oil and gas exploration and Read more

  Oil Minister Dharmendra Pradhan asked exploration companies to consider farming out their acreages to global players with advanced technology to expedite development and raise oil and gas output. India, the world’s third-biggest oil importer and consumer, depends on foreign purchases for more than 80% of its oil needs. The nation’s oil and gas output Read more

  A new hydrocarbon study contradicts conventional wisdom about how methane is trapped in rock, revealing a new strategy to more easily access the valuable energy resource. “The most challenging issue facing the shale energy industry is the very low hydrocarbon recovery rates- less than 10 percent for oil and 20 percent for gas. Our Read more

  BOGOTA- Colombia will sign contracts with two Canadian oil and gas companies for four onshore blocks after no counteroffers were made during the Andean country’s most recent energy auction, the national hydrocarbons agency (ANH) said on Tuesday. CNE Oil & Gas, a subsidiary of Canacol Energy Ltd, and the Colombian arm of Parex Resources Read more

  NEW DELHI- State-owned Oil and Natural Gas Corp (ONGC) on Tuesday signed contracts for seven oil and gas blocks it had won in the latest bid round that saw scant participation from the private sector.Oil India Ltd signed up for the remaining four blocks awarded under the fifth bid round of Open Acreage Licensing Read more

  A Canadian offshore oil regulator has accepted a bid from BP Canada to explore a portion of an environmentally sensitive marine refuge in the Atlantic Ocean for drilling.   The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) announced Nov. 4 that it had accepted a bid from the energy company for 264,500 hectares of Read more