Page 3 - Oil And Gas Sector

Global oil and gas investment will be 30% below pre-Covid level: ONGC

Says country's energy mix leans heavily on fossil fuels, which meet 90% of domestic demand; India's energy needs to at least double by 2050 with strong growth expected in natural gas

Oil regulator PNGRB seeks bids for city gas retailing licence for 65 areas

Oil regulator PNGRB on Friday invited bids for giving out city gas retailing licence in 65 geographical areas (GAs) including Jammu, Nagpur, Pathankot and Madurai

Top headlines: India sticks to growth forecast; Kerala struggles with Covid

Business Standard brings to you the top headlines on Friday

These lesser-known firms set to make a mark in India's oil and gas sector

Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during DSF-1 auctions

Iraq oil minister Ihsan Abdul-Jabbar Ismail says gas sector a priority

Iraq's oil sector is rebounding after a catastrophic year triggered by the coronavirus pandemic, with key investment projects on the horizon, Iraq's oil minister said Friday. But he also warned that an enduring bureaucratic culture of fear threatens to stand in the way. Iraq is currently trading oil at $68 per barrel, close to the approximately USD 76 needed for the state to operate without reliance on the central bank to meet government expenditures. Oil Minister Ihsan Abdul-Jabbar Ismail took over the unenviable job of supervising Iraq's most vital industry at the height of an oil price crash that slashed oil revenues by more than half last year. Since then, he has had to balance domestic demands for more revenue to fund state coffers and pressure from OPEC to keep exports low to stabilise the global oil market. With the sector rebounding, Ismail told The Associated Press, he can now focus on other priorities. In the interview, he offered a rare glimpse into the inner-workings of

OPEC wins, the West loses

Judges, investors force oil firms towards low-carbon future

Farzad-B gas field: India one of the losers in energy politics of West Asia

Last week, after chasing India to develop the field for 13 years, Iran announced that it will develop the offshore gas field, which runs along the country's maritime border with Saudi Arabia

Oil marketing firms: Gross refining margin, demand remain under pressure

Q4 numbers were boosted by inventory gains

Discovered small fields: Govt may extend bank guarantee relaxation

Officials in the know say this re­laxation was given during the first wave of the Covid-19 pandemic

Cairn Energy offers to forego $500 mn if India agrees to pay principal due

The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan

Ad agencies step away from oil and gas in echo of cigarette exodus

Guy Hayward, global chief executive of Forsman & Bodenfors, an international ad agency, said its New York office has signed a pledge to no longer work for oil and gas producers

Private sector's cost efficiency drive aiding Siemens' profitability

Acquisition of C&S Technologies is seen margin accretive and will augment exports

PM Narendra Modi launches Rs 3,222-crore petro, gas projects in Assam

PM Modi enumerated steps taken by the state government led by Sarbananda Sonowal

OIL to up stake in Numaligarh Refinery via debt, internal accruals

Firm is eyeing the role of a vertically integrated oil company with stake hike

Clarity on GST rate key likely to determine benefits for gas users

For now, analysts expect industrial users, city gas distributors and utilities to benefit

MF energy exposure off 280 bps since July, at near 3-yr low; IT at new high

According to one analysis, about 6.9% of equity scheme assets were invested in energy firms, close to 12% in IT

India to spend Rs 7.5 trillion on oil and gas infra in next 5 yrs: PM Modi

Noting that India imports over 85% and 53% of its oil and gas requirements, respectively, the PM says the country is working to meet growing energy demand and prune imports

Corporate air travel takes wing on economic revival, low Covid-19 cases

Online travel portals and airlines say the demand from companies is being led by essential services sectors like pharmaceutical, oil and gas, and power

Third of oil, gas workers faced pay cut in 2020 due to Covid-19: Survey

Salaries in the sector are closely tied to oil prices, which plummeted last year as lockdowns slashed demand for fuel

Need for more indigenisation of India's oil and gas sector: Petroleum secy

Kapoor gave the example of gas meters and said that presently there is not enough capacity in the country to manufacture them