Oil And Gas

Trump announces 25% tariff on nations buying Venezuelan oil and gas

Venezuelan crude has made up less than 1 per cent of all crude imports for India in FY25

ONGC plans to invest Rs 1 trillion in clean energy projects by 2030

The Dehradun-headquartered company is planning to invest a huge amount of Rs 1 trillion ($11.5 billion) to build a renewable portfolio of 10 gigawatts by 2030

ONGC joins hands with BP to boost oil and gas production in largest field

The field reached a peak production level of 471,000 barrels per day of oil in March 1985, and its output had declined to about 134,000 bpd in April 2024, according to the tender document floated

10th oil and gas bidding round only after passage of oilfield Bill

Upcoming legislation meant to streamline exploration and production

White-collar hiring up 9% in Dec, driven by high-skill roles: Report

White-collar hiring activity in December witnessed a 9 per cent increase compared to the same period of the previous year, driven by high-skill and strategic roles, a report said on Thursday. According to Naukri JobSpeak, the index reached an impressive 2,651 points in December 2024, reflecting a robust 9 per cent year-on-year growth, a promising sign for the year ahead. Key sectors that were primary growth drivers in December 2024, included AI/ML (36 per cent), Oil and Gas (13 per cent), FMCG (12 per cent) and Healthcare (12 per cent), said the report. Top metro cities collectively posted a 10 per cent growth as the year came to an end, it added. The Naukri JobSpeak is a monthly Index representing the Indian job market and hiring activity based on new job listings and job-related searches by recruiters on the resume database of Naukri.com. Meanwhile, according to the report, fresher hiring, which had majorly been muted through 2024, saw an impressive 6 per cent growth in December

Oil and gas demand likely to remain strong in FY26: India Ratings

India's oil and gas demand is likely to remain strong in the next financial year even as weak global demand will drive down refining margins, India Ratings and Research (Ind-Ra) said on Thursday. The agency expects the credit profile of downstream companies to remain stable during the year, driven by healthy demand for petroleum products and healthy marketing margins that would offset compressed Gross Refining Margins (GRMs), yielding healthy overall EBITDA. Credit profile may see an addition of debt on account of under-construction refinery expansion projects for all the major oil marketing companies (OMCs). The credit profile of upstream oil companies shall remain dependent on crude oil prices, Ind-Ra said in the FY26 Oil and Gas Outlook. EBITDA generation for upstream companies may fall with a moderation in oil prices and a reduction in production from legacy fields. However, the impact of low crude oil prices is expected to be offset by the removal of special excise on the ...

Modified policy to revive ageing oilfields expected to be out in 2025

Policy may stop sliding production at older fields pumping out the majority of domestic oil

Oil and gas CPSEs set to exceed IEBR capex for fifth-straight year

More than 145 projects costing Rs 100 crore under implementation by govt oil and gas firms

Norway's Equinor, Shell plan to form UK oil and gas joint venture

Joint venture will be based in Aberdeen, Scotland, and will be set up to sustain domestic oil and gas production and security of energy supply in Britain, Equinor said

Veteran oil and gas exec Naresh Nayyar appointed to board of EET Fuels

Veteran oil and gas executive Naresh Nayyar has been appointed on the board of directors of EET Fuels, the firm that owns the UK's Stanlow refinery, said on Wednesday. Nayyar has been appointed as non-executive director. The appointment was agreed on October 2, 2024. "Renowned for steering multi-billion-dollar projects and orchestrating turnarounds, Naresh is a seasoned expert in oil and gas market development," a company statement said. He had previously worked as chief executive officer and managing director of Essar Oil Limited (then India's second-largest private oil company that got acquired by Rosneft of Russia) and chief executive officer of Essar Energy Plc UK (then a FTSE 100 energy company). Essar owned and operated the Stanlow refinery and last year it created a new entity, Essar Energy Transition (EET), to control its various businesses and drive USD 3.6 billion worth of low carbon projects in the UK and India. EET Fuels is part of EET. "Leading Essar Oil UK Limited a

Vedanta to establish two not-for-profit industrial parks: Anil Agarwal

Industrialist Anil Agarwal states that an industrial park can greatly increase the competitiveness of manufacturing while bringing down the cost of transporting raw material

Goa to be permanent venue for annual India Energy Week: CM Sawant

Goa Chief Minister Pramod Sawant on Thursday announced that the coastal state would serve as the permanent venue for the annual India Energy Week (IEW). Addressing the state on the occasion of 78th Independence Day, he said the Oil and Natural Gas Commission (ONGC) has decided to host the annual IEWs in Goa permanently. Sawant also said his government was dedicated to creating a bright future for the state in the fields of green economy and blue economy. While the term 'green economy' refers to the economic system that aims at reducing environmental risks and ecological scarcities, and that aims for sustainable development, 'blue economy' or the ocean economy, is a term used to describe the economic activities associated with the oceans and seas. "We have successfully conducted international events like Ironman, G20 and India Energy Week. ONGC has decided to host IEW permanently in Goa every year," he said. Hosting events like the IEW helps the state's economy, he said. The IEW .

Reliance Industries' subsidiary Ethane plans over $500 mn offshore loan

In 2016, Reliance Ethane had raised a loan of $572 million with a 12-year tenor to purchase six new ethane carriers

10th round of OALP bidding for oil and gas assets likely in August

The Centre is planning to bring 560,000 sqkm under oil exploration by the end of 2024

Pakistan to get $5 bn over 3 years for petroleum, gas exploration: Sharif

Pakistan is expected to get an investment of USD 5 billion over the next three years from local and international firms for the exploration and development of petroleum and gas reserves that will save the cash-strapped country's valuable foreign exchange and provide relief to the common man bearing the brunt of high fuel prices. The announcement was made in a meeting presided over by Prime Minister Shehbaz Sharif on Saturday during a meeting with a delegation of oil and gas exploration and production sector companies. According to the state-run Associated Press of Pakistan, the meeting was informed that during three years, around 240 places would be excavated with an investment of USD 5 billion to explore petroleum and gas in Pakistan. The meeting was informed that currently, Pakistan's domestic production stood at 70,998 barrels and 3,131 MMSCFD (million standard cubic feet) gas per day. The prime minister invited petroleum and gas exploration and production companies to also find

IBA demands Rs 90/kg fixed rate for procurement of compressed biogas

Indian Biogas Association (IBA) is demanding a fixed rate of Rs 90 per kg for procurement of biogas by oil and gas marketing companies, from the government, citing environmental benefits and to boost the sector. The IBA will soon put up the suggestion about fixing the procurement price of the biogas, along with other recommendations, for boosting the sector before the newly appointed Union Minister of New and Renewable Energy Minister Pralhad Joshi. While the retail selling price of compressed biogas (CBG) is aligned with CNG (compressed natural gas), the procurement price is unfortunately linked to the retail selling price (RSP) of CNG, IBA Chairman Gaurav Kedia told PTI. Consequently, he said with CNG prices in New Delhi hovering at Rs 75-80 per kg, the procurement price of CBG by oil and gas marketing companies falls to Rs 59 per kg (excluding GST). "This pricing structure fails to recognise the inherent environmental value of CBG. Ideally, CBG should command a premium (of Rs ..

Passing the sell-by date

Shifting policy goalposts has been the bane of the disinvestment programme

PLI scheme to draw Rs 3-4 trn investments over 4 yrs; boost pvt capex: ICRA

The PLI scheme is expected to attract investments of Rs 3-4 lakh crore in the next four years and generate 2 lakh jobs as large projects in sectors, including semiconductor, solar module and pharmaceutical intermediaries, are expected to take off, a top Icra executive said on Wednesday. Icra Executive Vice President and Chief Ratings Officer K Ravichandran said that going ahead private sector capex is expected to pick up in oil and gas, metals and mining, hospitals, healthcare and cement sectors. However, taking the private sector capex to record high levels would require the government to give some tax breaks so that people have more disposable income in their hands. "Under the PLI scheme, we are expecting Rs 3-4 lakh crore of additional investments in the next 3-4 years. Going ahead, semiconductor, solar module, and pharmaceutical intermediaries are some areas where large projects are expected to happen which can be capital and employment-intensive. They would be generating 2 lakh

ConocoPhillips to buy Marathon Oil in $22.5 bn deal in latest energy merger

Shares of Marathon Oil rose 9% to $28.85, while ConocoPhillips fell 3.8% to $115.10 in morning trading

Govt offers two discovered oil and gas fields in special bidding round

The government has offered two discovered oil and gas fields in Mumbai offshore and a coal bed methane field in West Bengal for bidding in the latest Discovered Small Fields (DSF) bid round, regulator DGH said on Monday. In a notice on its website, the Directorate General of Hydrocarbons (DGH) said, notice inviting offer will be launched on May 28 and bids will close on July 15. "With the objective to augment domestic production of Petroleum and Natural Gas, the Ministry of Petroleum & Natural Gas, Government of India announces the Special DSF Bid Round offering two (02) Discovered Small Field located in Mumbai Offshore (MB/OSDSF/C37/2024 & MB/OSDSF/B15/2024) and one (01) Discovered Coal Bed Methane field located in West Bengal (SR-ONCBM (Raniganj)-2024) through International Competitive Bidding (ICB)," it said. It however did not give details like reserves. Those may be included in the NIO. DSF was launched in 2016 and since then three rounds have been held. In the first ...