Oil And Gas Sector

India is the world's third-biggest oil importer and consumer and meets almost 85 per cent of its oil requirements from overseas

BENGALURU, India (Reuters) - Ghana, which is struggling with its worst economic crisis in a generation, is seeking Indian investment in its oil and gas sector.

Consumers will be in trouble, given rising European demand from India's traditional suppliers, the absence of gas storage facilities and the lack of a clear LNG procurement strategy

The proposed domestic gas pricing formula by Kirit Parikh panel will likely provide headroom to CGDs to reduce prices and improve margins, but this may hurt producers like ONGC, Oil India, experts say

Emissions from oil and gas production worldwide are significantly underreported and are estimated to be three times higher, according to new data released at the UN climate summit (COP27) on Wednesday. Climate Trace -- a non-profit coalition of organizations which monitors greenhouse gas emissions and publishes emissions inventories using satellite data, artificial intelligence and machine learning -- said half of the 50 largest sources of emissions across the world are oil and gas production fields and their associated facilities. "Globally, emissions from oil and gas production are significantly underreported, with the data showing that of the countries required to report regularly to the UNFCCC, emissions are as much as three times higher," Climate TRACE said. The top 14 sources of emissions in the world are oil and gas fields, with the Permian Basin in Texas, the US, being the largest emitter, the latest global emissions inventory showed. "The top 500 sources represent less tha

ICICI Securities Ltd on Wednesday said its one year forward Nifty target is 19,425 with sectorial bias towards banks, capital goods/infrastructure and automobiles

More processes to be brought under the self-certification framework while clearance portal is being upgraded

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

EU to hold emergency energy talks on September 9, says minister

BP boosts dividend by 10%; BP to boost spending on oil and gas, CEO says; profits driven by strong oil trading, hit by LNG

Warning of a potential total breakdown of Russian gas supplies, Germany's top power grid regulator called for greater efforts to save energy

According to a government statement, this move shall ensure marketing freedom for all exploration and production (E&P) operators

Saudi Aramco's profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices

State-owned Oil and Natural Gas Corporation (ONGC) has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and aging fields. A Rs 3,740-crore spend has been made on a state-of-the-art 8-legged water injection-cum-living quarter platform, as part of the Mumbai High South Redevelopment Phase-IV, while Rs 2,292.46 crore have been spent on Cluster-8 marginal field development project at Mumbai High, the company said in a statement. "The two projects will result in an incremental gain of 7.5 million tonnes of oil and more than 1 BCM of gas," it said. Oil Minister Hardeep Singh Puri dedicated the two major projects to the nation at Western offshore on April 23. He was accompanied by chairman Alka Mittal, Director (T&FS) O P Singh and Director (Offshore) Pankaj Kumar. "The minister expressed his ...

Indian Oil Corp, the country's top refiner, has purchased a total of 4 million barrels of crude via tenders for May and June loading, traders said on Wednesday.

Russia is keen on expanding the sales networks of Russian companies in Asia's third-largest economy.

There is a glaring carve-out in Biden's sanctions against Russia: Oil and natural gas from that country will continue to flow freely to the rest of the world and money will keep flowing into Russia.

'We expect the regional refining benchmark to average around $3-4/bbl over the next 12-18 months, balancing our expectations of demand recovery alongside incoming capacity additions,' says Moody's

At present Exxon has a long-term contract to annually supply 1.5 million tonnes of liquefied natural gas to Indian firm Petronet LNG

The move is scheduled to be completed by mid-2023, the company said in a statement, becoming the largest Fortune 500 company in the metro area of Houston