Page 20 - Oil And Gas

IOC to monetise pipeline assets, says many investors interested

The firm is likely to sell stakes in one or two of its vast network of crude oil and petroleum product pipelines in the country, its Director (Finance) Sandeep Kumar Gupta said

Indian Oil Corporation profit doubles in Q3 on inventory gains

Rising oil prices yielded inventory gains and a rise in petrochemical margins

Oil and gas companies seek pandemic relief in the upcoming Budget

The Centre had considered tax sops for exploration and production operators in May 2020

Joe Biden to announce moratorium on oil and gas sales on public lands

Two people with knowledge of Biden's plans outlined the proposed moratorium, which will be announced Wednesday.

Oil and gas sector leads profit pool, says Motilal Oswal report

The oil and gas sector has emerged as one of the largest contributor to the overall profit or dividend pool, said Motilal Oswal Financial Services in a report

Oil declines 2% as China coronavirus cases trigger clampdowns

The market is awaiting official oil inventory data from the U.S. Energy Information Administration (EIA) on Friday

Attractive LNG prices to boost India's plan on gas-based economy

India's efforts to build a gas based economy is set to get a boost from the falling spot LNG prices

Govt expects global oil majors will join race for $6.5-bn BPCL sale

India seeks to boost spending to help Asia's third-biggest economy shake-off the pandemic-fueled downturn

Budget 2021-22 wishlist: Here are the key challenges in oil & gas sector

Low gas price cycles are posing challenges to new upstream gas projects in deep-water fields

Saudi Arabia's Crown Prince plans car-free city for future beyond oil

A news release described The Line as a walkable "belt of hyper-connected future communities, without cars and roads and built around nature."

Strong recovery in oil and gas volumes likely in fiscal 2022: Icra

The domestic demand for petroleum products is expected to increase at a healthy rate of 8 to 10 per cent in FY22 on a year-on-year basis, ratings agency Icra said

Fuel price rise paused after taking petrol rates to record high level

A day after taking petrol prices to all-time high levels in Delhi, oil marketing companies decided to keep fuel prices unchanged on Friday

Petrol price soars past Rs 84 a litre in Delhi, an all-time high

In Mumbai, petrol was sold at Rs 90.83 a litre and diesel for Rs 81.07 a litre.

Exxon signals up to $20 billion writedown; will overwhelm 4th-qtr gains

The largest US oil producer has posted losses in the first three quarters of 2020

Oil and gas price volatility likely to continue in 2021, say experts

Experts say refiners in Asia may continue to see stressed crack spread

Shell to write down assets again, taking cuts to more than $22 billion

Shell said the post-tax charge was due in part to impairments on its Appomattox field in the US Gulf of Mexico

Royal Dutch Shell to write down up to $4.5 billion in oil and gas assets

Royal Dutch Shell said it will write down $3.5 to $4.5 billion in the value of oil and gas assets in 2021, the latest in a string of impairments this year as it adjusts to a weaker outlook

ONGC begins production in Bengal basin, making it India's eighth functional

There are 26 sedimentary basins in India covering 3.4 mn sq k,. Of these, 16 are on land basins, seven part on land and part offshore, and three completely offshore

Numaligarh Refinery signs MoU with OIL India to augment pumping capacity

This will help OIL to increase product evacuation from 1.72 million metric tonnes per annum (mmtpa) to 5.50 mmtpa through Numaligarh-Siliguri pipeline

Reliance, BP to get govt capped price of $4.06 for new gas from KG-D6

Reliance-BP in November 2019 auctioned initial gas from the R-Series field at a biddable percentage of Brent crude oil price