State-owned Indian Oil Corporation (IOC) Monday said it along with its partner Bharat PetroResources Ltd (BPRL) has won an oil block in Abu Dhabi, where the two will invest USD 170 million. IOC-BPRL won the block in Abu Dhabi’s first-ever competitive bid round.
Saudi state-owned Saudi Aramco remains positive on its investments in India and will be able to catch up on the deadline
Abu Dhabi National Oil Company (ADNOC) is seeking to invest in more downstream assets, mainly in refining and petrochemicals, in strategic locations like India to find a stable outlet for its oil, said its chief executive officer, Sultan Ahmed Al Jaber.
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 […]