Oilfield

Monthly natural gas trades shoot up 129% in Dec: Indian Gas Exchange

Rising global prices, cut in APM gas allocation behind higher trades

Rajya Sabha passes bill to boost investment in oil and gas exploration

Aims to de-link petroleum operations from mining, renewable projects at oilfields

Oilfield amendment bill to provide policy stability: Hardeep Singh Puri

A bill to amend the existing law governing exploration and production of oil and gas will provide policy stability to investors as also promote ease of doing business, Oil Minister Hardeep Singh Puri said on Friday. Speaking at the Geo India 2024 conference in Greater Noida, on the outskirts of the national capital, the minister said the government's reforms agenda to make it easier to find and produce crude oil (which is refined into fuels like petrol and diesel) and natural gas (which is used to generate power, make fertilizer or turned into cooking gas and CNG) will continue. He promised interference-free administration. "If you have a private sector company which is family owned, you still have interference. But if you have well run state oil companies as our oil firms are, and you have a minister like me, you will have zero interference. I have said that repeatedly," he said. The Oilfields (Regulation and Development) Amendment Bill, 2024 was introduced in the Rajya Sabha in .

Govt tables Bill in Lok Sabha to delink petroleum operations from mining

Calls for delinking petroleum operations from mining, renewable projects at oilfields

Oil prices decline for third day as US crude production, inventories swell

US crude oil inventories swelled last week by 4.906 million barrels, while gasoline and distillate stockpiles fell, according to market sources citing American Petroleum Institute figures on Tuesday

Production has resumed at largest oilfield after over 2-week hiatus: Libya

Libya's state-owned oil company resumed production at the country's largest oilfield Sunday, ending a more than two-week hiatus after protesters blocked the facility over fuel shortages. The National Oil Corp. said in a terse statement that it lifted the force majeure at the Sharara oil field in the country's south and resumed full production. It didn't provide further details. Force majeure is a legal maneuver that releases a company from its contractual obligations because of extraordinary circumstances. The company had activated the maneuver on Jan. 7 after protesters from the desert town of Ubari, about 950 kilometers (590 miles) south of the capital, Tripoli, shut down the field to protest fuel shortages. Over the past two weeks the company's chief, Farhat Bengdara, and military officials from eastern Libya have been negotiating with the protest leaders, Fezzan Group. Barzingi al-Zarrouk, the protesters' spokesman, announced that they have suspended their protest after they ..

Nigeria files lawsuit against JP Morgan for disputed $1.7 billion oil deal

A London court will on Wednesday begin to hear a lawsuit launched by Nigeria against U.S. bank JP Morgan Chase, claiming more than $1.7 billion for its role in a disputed 2011 oilfield deal.

Equinor warns of $1.8 bn impairment charge for Britain's Mariner oilfield

Total recoverable reserves from the field, which is operated by Equinor with a 65.1% stake, is now estimated to be about 180 million barrels of oil equivalent, sharply down from 275 million barrels

DGH overhauls oilfield approval processes, cuts down statutory approvals

GH has made it easier for firms to explore and produce oil and gas in the country by limiting the requirement of statutory approvals to only extension of contracts

Farmers baton-charged for protesting auction of oilfields

Farmers also want withdrawal of FDI in oil sector