Page 10 - Oil And Gas

At Rs 18,348 cr, ONGC's Q2 profit highest in a quarter for any Indian firm

ONGC's total crude oil output dipped 3.8 per cent to 5.47 million tonnes while gas production stood 7 per cent lower at 5.467 billion cubic metres

Govt asks ONGC to consider selling 60% stake in key oil, gas fields: Report

India, the world's third biggest oil consumer and importer, wants to quickly monetise its oil and gas reserves and has been asking ONGC for years to raise production

RIL exits US shale gas business by divesting Eagleford Upstream asset stake

Reliance Eagleford Upstream Holding announced the signing of agreements with Ensign Operating III, LLC, a Delaware limited liability company to divest its interest in certain upstream assets

EU gas and power prices jump as higher Russian flows fail to materialize

Benchmark gas futures traded in the Netherlands surged as much as 9.7% as orders via a key Russian pipeline signaled shipments will remain well below normal on Monday

Oil and gas explorer Cairn Energy to change name to Capricorn Energy

Britain oil and gas explorer Cairn Energy PLC will change its company name to Capricorn Energy PLC from mid-December, around the time its over USD 1 billion retrospective tax dispute will be nearing closure. Cairn Energy, which gave India its biggest onland oil discovery, had in 2011 sold the India unit, Cairn India to mining baron Anil Agarwal's Vedanta Group. The sale included the transfer of the Cairn brand name to Vedanta. But both the UK firms and Vedanta kept using the name - while Cairn Energy did not change its name all this while, the mining group continued with Cairn India Ltd till 2018 when the firm was merged with Mumbai-listed Vedanta Ltd. Since then, the oil and gas exploration and production operations of Vedanta Ltd are organised as Cairn Oil & Gas. In a statement, Cairn Energy PLC said it "plans to change its company name from Cairn Energy PLC to Capricorn Energy PLC, effective from December 31, 2021. The LSE stock ticker will remain as CNE". This, it said, ...

OPEC+ likely to stick to plans to raise oil output: Report

Oil prices have surged this year to a three-year high above $86 a barrel as OPEC+ ramps up supplies gradually and demand recovers

India oil demand unlikely to peak before 2040: Hindustan Petroleum Chairman

Prime Minister Narendra Modi on Monday made a bold pledge to cutting emissions at the world's third-biggest emitter to net-zero by 2070

Fossil fuel divestment campaign gathers momentum in philanthropy

The worldwide divestment campaign has sought commitments from universities, corporations and other entities

Festival demand spurs India's gasoil consumption to above pre-Covid levels

Gasoline sales at 2.48 million tonnes rose by 3.93% from a year earlier

Indian Oil reports second quarter net profit at Rs 6,360 crore

Sequentially, net profit was higher than Rs 5,941.37 crore earned in the April-June quarter

Bharat Petroleum second quarter profit jumps 24% to over 3,200 cr

Revenue rose 53.7 per cent after global oil prices rose to a multi-year high

Oil plunges to 2-week low on US inventory shock, rise in Covid-19 cases

Brent crude dropped 94 cents, or 1.1%, to $83.64 a barrel by 0655 GMT

Crude oil prices decline more than 1% as US stockpiles sap rally

With Brent rising for the past eight weeks and WTI climbing for the past 10 weeks, prices are starting to look overbought, analysts said

BP-Reliance joint venture starts selling multiple fuels in India

BP has 49% stake in the joint venture

Crude oil prices extend gains to multi-year highs on tight supply

Brent crude futures rose by 64 cents, or 0.8%, to $86.17 a barrel by 1105 GMT, following on from last Friday's 1.1% gain.

Cairn Oil and Gas hopes to recover around $4-billion investment

While the intention of the ER policy was to boost domestic oil and gas production from ageing fields, it has not yielded the desired results

ExxonMobil and ONGC to extend partnership to Andaman offshore

Private refiners such as Reliance and Nayara Energy command over a third of India's total crude oil refining capacity

RIL Q2 net profit jumps 43% to Rs 13,680 cr as it fires on all cylinders

Revenue was up 49 per cent at Rs 191,532 crore

India makes a quick buck by selling some cheaply bought crude to MRPL

India imports roughly 226 MT (1,656.58 million barrels) of crude oil every year. This meets around 84 per cent of India's total crude oil requirement.

Indian Oil's refineries running at 90% capacity utilisation: Chairman

The firm is India's largest fuel refiner and retailer