India’s state oil refiners are planning an aggressive push into natural gas in coming years to meet Prime Minister Narendra Modi’s goal of making the fuel a bigger part of the country’s energy mix.
Following the upgrade of India’s sovereign rating to “Baa2”, Moody’s has also upgraded the issuer rating for five government-owned companies in the oil and gas sector to Baa2 from Baa3.
Mercator Petroleum (MPL), a subsidiary of Mercator Ltd, announced that it had initiated preliminary technical discussions with the Director General of Hydrocarbons (‘DGH’) regarding the Field Development Plan for wells Jyoti 1 and 2 in the Cambay Oil block.
The Indian Oil Corporation Ltd (IOCL) on Thursday signed two memoranda of understanding (MoUs) to set up a plastic park and textile park in Odisha.
Over a period of three days starting Friday, 7,00 delegates—mostly petroleum geophysicist will brainstorm over new technologies available across the world which can be used to improve oil and gas exploration in the country.
Citing poor performance by autonomous national oil companies (NOC) ONGC and Oil India Ltd, the petroleum ministry has further tightened the screws on them by handing over approval of their exploration and development activities to the upstream technical arm Directorate General of Hydrocarbons (DGH).
Venezuela will pay ONGC Videsh USD 449 million in past dues either by diverting money from existing or new buyers of its crude oil, the state-owned firm said today.
More than four months after the launch of GST, the industry has pitched for inclusion of natural gas in the new indirect tax regime so as to help producers contain cost and aid in moving towards a gas-based economy.
The introduction of Goods and Services Tax (GST) has lifted oil demand in India this year on higher sales of conventional passenger cars and utility vehicles, Wood Mackenzie said today.
The rally in oil prices is a potential game changer for inflation in Asia and will pressure central banks to lift interest rates after years of easy money.