India Monday signed an initial pact to lease out a part of its underground strategic oil storage at Padur in Karnataka to Abu Dhabi National Oil Co (ADNOC) for storing crude oil, the second such deal with the UAE firm this year, Oil Minister Dharmendra Pradhan said.
Major oil producers on hand for a summit in Abu Dhabi acknowledge that production cuts of up to 1 million barrels a day may be necessary. Saudi Energy Minister Khalid al-Falih said on Monday that an analysis suggested that cut may
ONGC Videsh Ltd today said it has received the first ever equity oil cargo from Abu Dhabi’s Lower Zakum oilfield, where it had recently bought stake.
After Saudi Aramco, Abu Dhabi National Oil Company (ADNOC) will pick up stake in the planned USD 44-billion refinery-cum-petrochemical project in Maharashtra.
Abu Dhabi National Oil Co (ADNOC) will supply the first oil cargo for India’s strategic petroleum reserve (SPR) over the weekend, an Indian government statement said, becoming the first foreign company to lease storage in the country.
Italian energy company Eni SpA won rights to pump oil at two blocks off the coast of Abu Dhabi and sold the Middle Eastern crude producer a stake in Egypt’s giant Zohr natural gas field, a deal involving combined payments of $1.8 billion.
India will have the right over 65 per cent of 6 million barrels of crude oil that Abu Dhabi National Oil Company (ADNOC) will store at the country’s maiden strategic storage at Mangalore. ADNOC will send three large ships carrying crude oil beginning April to fill half of the 1.5 million tonnes strategic oil reserves that India has built at Mangalore, a senior government official said. Out of […]
India hopes Abu Dhabi National Oil Company (ADNOC) will send the first shipment of crude oil to fill the country’s 0.75 million tonnes strategic petroleum reserve at Mangalore starting in May, Oil Minister Dharmendra Pradhan said in New Delhi on Tuesday.
India’s largest clean energy producer, Re-New Power, has picked Goldman Sachs, Kotak and JM Financial to advise on a planned $700 million (Rs 4,480 crore) initial public offering of shares that could see some of its early investors such as Goldman Sachs and Abu Dhabi Investment Authority make a partial exit, people briefed on the matter said.
Harnessing solar power will become cheaper by at least 60 percent over the next decade, Adnan Amin, the head of the Abu-Dhabi based-International Renewable Energy Agency, Irena, said.