Page 19 - Oil And Gas

Pakistan signs gas deal with Qatar, may save $3 billion in 10 years

Pakistan's landmark, new deal with Qatar for liquefied natural gas at lower rates will save Islamabad a total of about USD 3 billion over the next 10 years, an adviser to the country's prime minister said on Monday. The agreement, signed last Friday, will save the state USD 317 million annually due to the reduced price of the gas compared to the 2015 agreement between the two countries, according to Nadeem Babar, Prime Minister Imran Khan's adviser on petroleum. This "will result in the lowering of the overall cost of liquefied natural gas" imported from Qatar, Babar said. Under the agreement, which comes into effect in January 2022, Pakistan will import liquefied natural gas or LNG from Qatar at a reduced price of about 31 per cent, compared to the previous agreement signed in 2015 for 15 years. At the time, Islamabad's agreeing to pay a higher price had drawn criticism from experts. Many Pakistanis have been rallying, angry over long power cuts in the summer and shortages of ..

Oil set for steady gains as economies shake off pandemic blues

Oil demand was seen growing by 5-7 million barrels per day in 2021

IOC to invest Rs 32,496 cr to expand Panipat refinery capacity

The firm said it will invest to expand its oil refinery at Panipat in Haryana to 25 million tonnes per annum capacity

Global LNG demand expected to almost double by 2040 - Shell

Asia is expected to drive nearly 75% of LNG demand growth to 2040

Reliance Industries prices coal gas from Madhya Pradesh at minimum $6

The firm sought bids from buyers of coal gas it produces from CBM blocks in Madhya Pradesh at a minimum price of about $6 at the current oil price

Reliance Industries shares rise nearly 1 pc after spin-off

Shares of Reliance Industries Ltd (RIL) rose nearly one per cent to close at Rs 2,024.25

Reliance's proposed business reorganisation credit neutral: Fitch

Fitch Ratings said on Tuesday the proposed reorganisation plan by Reliance Industries Ltd (RIL) to transfer its refining, marketing and petrochemical (oil-to-chemicals) businesses to a wholly-owned subsidiary as a step towards facilitating participation by strategic investors in its O2C businesses."We anticipate the reorganisation will have a neutral impact on RIL's credit metrics and rating," it said.The transfer will be on a slump sale basis subject to attaining the requisite approvals. The consideration for transfer will be in the form of long-term interest-bearing debt of 25 billion dollars to be issued by O2C to RIL.RIL's external debt is proposed to remain with RIL only. As RIL moves its oil refining, petrochemical and 51 per cent stake in a fuel retail subsidiary -- among other businesses -- to O2C, it will continue to hold businesses like textiles and upstream oil & gas, and will act as an incubator for new growth businesses.The proposed reorganisation eases formation of

Central govt looting people: Sachin Pilot on rising fuel prices

Pilot on Monday questioned the silence of BJP leaders on inflation and rising fuel prices

Brent gives up gains after rising above $65 on Texas freeze

Prices also gained support from a larger-than-anticipated draw in the US crude oil inventories

Oil and gas shares flare as govt plans to spend Rs 7.5 trn on related infra

Gujarat Gas, Gujarat State Petronet and Indraprastha Gas rallied up to 18 per cent on the BSE in intra-day trade

Oil prices close to 13-month highs, supported by Texas cold snap

Benchmark Brent crude slipped 37 cents

AG&P to invest Rs 2,700 cr on City Gas Distribution infra in Tamil Nadu

Aims to supply natural gas 24x7 across six districts of the state; investment to be spread over 8 years

Modi to inaugurate key oil and gas sector projects in Tamil Nadu on Feb 17

He will also lay the foundation stone of Cauvery Basin Refinery at Nagapattinam

Oil and gas giant ONGC to scale up KG basin gas output this year

The firm said it will scale up natural gas production from a KG basin block to 2.5-3 million standard cubic meters per day by May this year

ONGC Q3 standalone profit slumps 67%; declares 35% dividend

The record date for distribution of dividend has been fixed for February 20, 2021

Energy giant Shell to speed up emissions cuts, says oil output peaked

The firm said it plans to eliminate seven refineries and reduce production of gasoline and diesel fuel by 55 per cent over the next decade

BPCL third quarter net profit more than doubles on inventory gains

Bharat Petroleum Corporation Ltd (BPCL) on Tuesday reported more than doubling of its net profit for the December quarter

Reliance gets world's first 'carbon-neutral' oil from United States

Billionaire Mukesh Ambani's Reliance Industries Ltd has sourced the world's first consignment of 'carbon-neutral oil' from the US

Govt eliminates subsidy on kerosene through small price hikes

The fuel sold through the public distribution system (PDS) is now priced at market rates.

Indian Oil may form subsidiary for retail assets to unlock value

IOC operates a pipeline network of 14,600 kilometres