Canadian oil and gas producer Husky Energy Inc reported a jump in quarterly profit on Thursday, but lowered its 2018 output forecast, saying it would temporarily cut heavy oil production due to weakening prices of the commodity.
Ruia family-owned Essar Oil and Gas will invest Rs 900 crore in drilling 150 more wells on its Raniganj CBM block in West Bengal to more than double gas output to 2.3 million standard cubic metres per day by 2021, its Managing Director and CEO Vilas Tawde said.
Oilfield services provider Petrofac Ltd said on Tuesday it agreed to sell an offshore construction vessel to Shanghai Zhenhua Heavy Industries Co Ltd to reduce debt.
Pune The price gap between petrol and diesel has been steadily narrowing over the years, more so in the recent past. Diesel prices have begun to jump sharply since the turn of the year. On January 1, 2018, the retail price of diesel in Pune was approximately Rs 62.36/ litre. Petrol price increase, in comparison, has been more moderate. On Friday, the retail price of petrol was Rs 81.80/litre, while diesel was selling at Rs 68.37/litre.
The Gas Authority of India Limited (GAIL) will shortly launch piped natural gas (PNG) for houses and compressed natural gas (CNG) for transport sector in Patna. The project is coming up as part of the Jagdishpur-Haldia-Bokaro-Dhamra pipeline under Pradhan Mantri Urja Ganga Yojana, which will connect the eastern and north-eastern states to the national gas grid, said GAIL public relations executive Jyoti Kumar on Friday.
Slumping industrial conglomerate General Electric won a reprieve on Wall Street Friday after reporting strong results in some divisions even as it suffered a quarterly loss due to a hefty legal charge.
Tata Petrodyne Ltd, which has put up its six oil and gas blocks for sale, is yet to find interest from buyers, two people aware of the matter said.
Oil prices fell on Monday as markets opened the week cautiously following western air strikes in Syria over the weekend, and as American drilling for new production continued to rise.
KPC’s Chief Executive Officer Nizar al-Adsani also said that while Asia would remain the focus for Kuwaiti oil exports, the national oil company was also keeping an eye on the African market for possible acquisitions.
Qatar Petroleum sells two al-Shaheen crude oil cargoes to load in June via private negotiation for the first time, three trade sources said on Monday