Indian oil and gas companies are likely to use their improved cash flows from market-linked fuel prices to expand their asset base and enhance operational quality, S&P Global Ratings said on Tuesday.
Finance minister Arun Jaitley, while presenting the Budget for 2017-18, made an interesting announcement that will have far-reaching consequences for the petroleum sector.
The government will launch the second round of small oilfield auction in 2017-18, and introduce a policy to incentivise production from ageing fields in a bid to raise oil and gas output declining for the past few years, the oil minister has said.
In an attempt to improve the quality of Beijing’s polluted air, the authorities are planning to mandate that every new taxi in the city must be electric or gas-fuelled, China’s National Business Daily reported last month.
India’s oil imports from Iran rose nearly 17% in February from a month earlier as refiners received less crude from key Opec producers Saudi Arabia and Iraq after an Opec deal to cut output, shipping data showed on Monday.
Global oil supply could struggle to keep pace with demand after 2020, risking a sharp increase in prices, unless new projects are approved soon, according to the latest five-year oil market forecast from the International Energy Agency (IEA).
Vertical integration of public sector oil companies will enhance the financial power of Indian oil firms to get acquisitions overseas and discussions on the issue will begin soon, a top official of a Navratna oil firm has said.
Oil India Limited (OIL) has signed an MoU with the University of Houston in a bid to augment its reserves base and maximise recovery from its ageing oilfields. The MoU was inked on Tuesday in the presence of Petroleum and Natural Gas Minister Dharmendra Pradhan.
Get yourself a ruler, a pencil and a piece of paper. Place the ruler at about 45 degrees and draw a line upward across the page.
Oil executives cautioned it is too soon to gauge the impact of President Donald Trump’s policy proposals on their businesses, but they are looking forward to hearing more about plans for energy regulation, trade and taxation.