Oil & Gas

Latest discovery of India’s largest oil explorer Oil and Natural Gas Corp to the west of its Mumbai High offshore fields is estimated to hold in-place reserves of about 20 million tonnes, sources with knowledge of the matter said. Mumbai High field annually produces oil and natural gas of about 9 million to 10 million […]

Larsen & Toubro (L&T)’s Hydrocarbon division has bagged order from Kuwait Oil Company (KOC). Larsen & Toubro (L&T) has bagged EPC contract for laying new 48” crude transit line (TL-5) from North Kuwait to Ahmadi.Contract valued Rs 1,700 crore is scheduled for completion in the third quarter of 2020. http://www.projectstoday.com/News/LT-bags-contract-from-Kuwait-Oil

A Mint news report on Monday said state-run Bharat Petroleum Corp. Ltd (BPCL) is in talks with the country’s largest natural gas transporter GAIL (India) Ltd to acquire the government’s majority stake. Talks are at a nascent stage and no formal announcements have been made. Move appears to be in keeping with the government’s proposal […]

Bharat Petroleum Corporation Limited (BPCL), India’s second largest state-owned oil marketer is mulling a merger with GAIL (India), India’s largest gas distributor, and Oil India, the country’s second largest explorer, to create an integrated energy giant after the Centre approved the merger of rival Hindustan Petroleum Corp. Ltd. (HPCL) with ONGC. BPCL, which got Maharatna […]

ONGC Videsh Limited and its consortium partners of the giant Azeri-Chirag-Deepwater portion of Gunashli (ACG) fields in Azerbaijan have got an extension for the production sharing agreement (PSA) for oil fields until December 31, 2049. A company statement said that OVL and its consortium partners had entered into an agreement with Azerbaijan Government and its […]

Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi today gave its approval to undertake appraisal of 48,243 Line Kilometer (LKM) of 2D seismic data of the country’s sedimentary basins for which limited data is available. Project will be implemented by National Oil Companies (NOCs), mainly Oil and Natural Gas Corporation (ONGC) […]

State-owned HPCL will invest Rs.61,000 crore over the next four years in expanding and upgrading its existing refining capacity to meet higher quality fuel norms, the company said in an investor presentation. HPCL is upgrading both its Mumbai and Visakh refineries to produce fuel meeting Euro-VI emission norms. “Major planned investments in refinery, POL (petroleum, […]

GAIL India Ltd has chartered an LNG tanker from French major Total SA for three years to haul gas from the US beginning early 2018. “We are hiring the ship for three years with an option to extend the time-charter by another year,” a senior company official said. GAIL, Indias biggest natural gas marketing company, […]