Iran is likely to award up to five oil exploration and production contracts to local firms, with the first deal expected within months, a senior oil official was quoted on Monday as saying.
Venezuela’s state-run energy company, PDVSA, kept oil exports near 1 million barrels per day in March despite U.S. sanctions and power outages that crippled its main export terminal, according to PDVSA documents and Refinitiv Eikon data.
Oil just had its best quarter in more than a decade. Naturally, President Donald Trump is complaining.
The government today announced it has selected 14 companies for awarding 23 oil and gas blocks under the second round of bidding for rights to develop discovered small fields (DSF).
For the first time since the global oil shock of 1973, India’s faltering steps towards energy security have given way to a holistic oil diplomacy that lays stress on personal chemistry, combining it with trade-offs and a strategic vision.
Venezuela is open to barter-like payments from India to boost oil sales to the world’s third-biggest oil consumer, the South American country’s oil minister Manuel Quevedo said on Monday.
Betting big on rising oil demand in the world’s third largest energy consumer, oil-rich UAE on Monday said it is looking at investing more in refining and petrochemical projects as well as stocking more crude in India.
Despite expectations of a relatively better performance on the gross refining margins (GRMs) front for domestic oil marketing companies, we expect the Q3 FY19 performance to remain dented owing to the burden of heavy inventory losses due to steep correction in global crude prices.
Oil minister Dharmendra Pradhan Monday said the government will allow state-owned ONGC and Oil India to induct private and foreign partners in oilfields to raise output and also give special incentive to make their discoveries in difficult areas viable.
India will auction 23 blocks in a third round of offerings under the open acreage licensing programme for oil and gas exploration concessions, the country’s oil secretary, M.M. Kutty, said on Monday