Reliance Industries’ flagging KG basin D6 block has seen natural gas output slip further, leading the government to disallow $2.756 billion in cost, Oil Minister Dharmendra Pradhan said today.
State-owned ONGC will invest over Rs 21,500 crore to develop India’s deepest gas discovery by 2022-23, helping it more than double output from its prime KG basin block.
Subdued demand coupled with surplus electricity availability has slowed down the addition of new capacity for generating power from conventional sources of energy such as coal and gas.
U.S. crude exports are poised to surpass production in four OPEC nations in 2017 and may grow even more if President Donald Trump honors pledges to ease drilling restrictions and maximize output.
RIL has sought quashing of the FIR lodged against it by the ACB of the Delhi govt in 2014
Reliance Industries Ltd (RIL)on Friday told the Delhi High Court the FIR lodged against it and two UPA ministers on alleged irregularities in raising gas price from KG-6 basin was liable to be quashed in view of its larger bench ruling that the Delhi government’s ACB does not have power to probe central government officials.
According to global news agency Reuters, since late November, major oil companies have announced 11 deals worth more than $500 million each with a combined value of $31 billion, the clearest sign yet that oil executives are more confident a recovery is underway
The world’s top oil companies are back in acquisition mode, targeting smaller exploration and development firms to boost hydrocarbon reserves through acquisitions in contrast to the mergers route that followed previous slumps in crude prices.
India’s oil and gas sector has attracted foreign direct investments worth $ 1.18 billion in the past two financial years between April 2014 and March 2016, the government said in its “achievement report” for the petroleum sector.
Kuwait is set to begin importing up to 200 million cubic feet of gas daily from neighbouring Iraq, oil ministers from the two Arab nations said after talks on today. Cited by Kuwait News Agency KUNA, Iraqi Oil Minister Jabbar al-Luaibi said the project “will see the light very soon”. Kuwaiti Oil Minister Essam al-Marzouk […]
BP on Monday agreed to buy stakes in gas-heavy exploration areas off the coast of Mauritania and Senegal from Kosmos
With the economy growing in India, the country’s energy demands are also spiraling up. India’s energy demand is set to accelerate