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Oil Fields

As Biden weighs Willow, he blocks oil drilling in Alaska and Arctic Ocean

President Joe Biden will prevent or limit oil drilling in 16 million acres in Alaska and the Arctic Ocean, an administration official said on Sunday. The announcement, which is expected as soon as Sunday evening, comes as regulators prepare to announce a final decision on the Willow project, a controversial oil drilling plan pushed by ConocoPhillips. The official requested anonymity to discuss the conservation effort before it is officially unveiled. The plan has two parts. First, the official said, Biden will bar drilling in nearly 3 million acres of the Arctic Ocean, closing off the rest of its federal waters from oil exploration. Second, the administration will develop new rules for more than 13 million acres in a vast swath of land known as the National Petroleum Reserve - Alaska. The official said the area includes the Teshekpuk Lake, Utukok Uplands, Colville River, Kasegaluk Lagoon and Peard Bay Special Areas. It's unclear whether the announcement will mollify environmentali

As Biden weighs Willow, he blocks oil drilling in Alaska and Arctic Ocean
Updated On : 13 Mar 2023 | 7:25 AM IST

Nigeria drills for oil in new field as theft and extremism erode earnings

Nigeria on Tuesday began drilling oil and natural gas in the country's northern region, anticipating a boost to the nation's finances even as the new energy supplies face the threat from theft and extremist activity. President Muhammadu Buhari flagged off the drilling within Kolmani oil field in northeast Gombe and Bauchi states, making it the first area where oil is being drilled outside the southern Niger Delta region. It has a reserve of up to 1 billion barrels of crude. The drilling began nearly three years after Nigeria announced the discovery of oil in commercial volume in the region, which is embroiled in a decadelong war against Islamic extremists. Analysts have raised questions about security measures to protect energy facilities there, while there are environmental concerns about tapping into more climate-changing fossil fuels. Crude oil has been critical in expanding infrastructure in the West African nation, accounting for 41% of total federal government revenue in 2021

Nigeria drills for oil in new field as theft and extremism erode earnings
Updated On : 23 Nov 2022 | 7:33 AM IST

ONGC Videsh set to retake its 20% stake in Russia's Sakhalin-1 oil fields

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corporation (ONGC), has submitted an application to Russian authorities to retake a 20 per cent stake in the Sakhalin-1 oil and gas fields in the far east region of the country, the company said. Russian President Vladimir Putin last month disbanded Exxon Neftegaz - a regional subsidiary of US super major ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator. The other former foreign shareholders in the project - Japan's Sodeco consortium and ONGC Videsh - have to apply to the Russian government to regain their shareholdings in the project. "ONGC Videsh Board in its meeting held on October 18, 2022, has approved submission of its consent to claim the company's right in Sakhalin-1," ONGC said in its notes to a stock exchange filing on July-September quarter earnings. It "expects retention of its interest in the project and is not expecting any .

ONGC Videsh set to retake its 20% stake in Russia's Sakhalin-1 oil fields
Updated On : 15 Nov 2022 | 7:25 PM IST

In meeting on Russia's Far East, India to focus on expanding oil footprint

PM Modi to address by video four-day meeting of Eastern Economic Forum in Vladivostok

In meeting on Russia's Far East, India to focus on expanding oil footprint
Updated On : 05 Sep 2022 | 10:56 PM IST

Despite windfall tax, ONGC, Oil India's earnings look positive for FY23

With diverse revenue streams RIL is less impacted, while oil marketing companies have seen earnings downgrades amidst volatility in oil prices

Despite windfall tax, ONGC, Oil India's earnings look positive for FY23
Updated On : 30 Aug 2022 | 12:07 AM IST

Assam Khagorijan oil field resumes operations after nearly 15 yrs

After almost 15 years, state-owned Oil India Limited's (OIL) Khagorijan oil field in eastern Assam's Dibrugarh started operation on Saturday

Assam Khagorijan oil field resumes operations after nearly 15 yrs
Updated On : 21 Aug 2022 | 8:05 AM IST

ONGC applies for mining license to discover oil fields in Samastipur, Buxar

Oil and Natural Gas Corporation (ONGC), citing possibility of crude oil fields in Buxar and Samastipur districts of Bihar, has applied for the petroleum exploration license before the state government

ONGC applies for mining license to discover oil fields in Samastipur, Buxar
Updated On : 02 Jun 2022 | 3:56 PM IST

Libya's oil company says production resumed at largest field after 3 days

The closure of the two fields caused Libya's daily oil production to drop by 330,000 barrels, the NOC said

Libya's oil company says production resumed at largest field after 3 days
Updated On : 08 Mar 2022 | 3:38 PM IST

ONGC exploring purchase of woodside stake in Senegal oil field

State-owned ONGC is discussing acquiring an interest of 20% to 40% in the field, the people said, asking not to be identified as the matter is private

ONGC exploring purchase of woodside stake in Senegal oil field
Updated On : 09 Sep 2021 | 11:47 AM IST

Discovered small fields: Govt may extend bank guarantee relaxation

Officials in the know say this re­laxation was given during the first wave of the Covid-19 pandemic

Discovered small fields: Govt may extend bank guarantee relaxation
Updated On : 14 Apr 2021 | 6:10 AM IST

Trump administration readies oil bidding in Arctic wildlife refuge Alaska

Trump administration will open bidding on drilling leases in Arctic wildlife refuge in Alaska despite tepid interest from the oil and gas industry and a pledge from Biden to protect the region

Trump administration readies oil bidding in Arctic wildlife refuge Alaska
Updated On : 06 Jan 2021 | 12:29 PM IST

Newbies bid for small oil fields only to get bogged down in red-tape

Entrepreneurs bid for discovered small fields, only to find gaps between promise and experience

Newbies bid for small oil fields only to get bogged down in red-tape
Updated On : 24 Sep 2020 | 6:10 AM IST

Battle over oil field picks up; HC freezes HOEC's assets in interim order

Hardy Exploration & Production over PY-3 offshore field wins a round in legal fight

Battle over oil field picks up; HC freezes HOEC's assets in interim order
Updated On : 27 Aug 2020 | 1:13 AM IST

Covid hits two of ONGC's most lucrative fields, 54 test positive, one dies

Stops operations at two rigs in Mumbai High and Bassein

Covid hits two of ONGC's most lucrative fields, 54 test positive, one dies
Updated On : 22 Jun 2020 | 6:45 PM IST

Assam oil well fire continues, OIL says production getting affected

The well no. 5 at Baghjan in Tinsukia district has been spewing gas uncontrollably for the last 22 days and it caught fire on June 9, killing two of OIL's firefighters at the site

Assam oil well fire continues, OIL says production getting affected
Updated On : 17 Jun 2020 | 11:49 PM IST

Saudi Arabia's biggest oil field is fading faster than anyone guessed

Ghawar, the world's largest conventional oil field is able to pump a maximum of 3.8 mn barrels a day - well below the more than 5 mn mark

Saudi Arabia's biggest oil field is fading faster than anyone guessed
Updated On : 03 Apr 2019 | 7:24 AM IST

Reliance Industries to stop production at two KG fields as output falls

All hopes now on three new discoveries having 3 trillion cubic feet of discovered gas

Reliance Industries to stop production at two KG fields as output falls
Updated On : 12 Feb 2019 | 12:07 AM IST

Govt defers deadline to submit bids for auction of 25 oil, gas fields

In DSF-II, 59 discoveries have been clubbed into 25 contract areas spread over 3,042 square km and eight sedimentary basins

Govt defers deadline to submit bids for auction of 25 oil, gas fields
Updated On : 17 Jan 2019 | 2:49 PM IST

Second tranche of oil fields on offer, Vedanta to get 41 OALP blocks: Govt

Dharmendra Pradhan said the government will be signing contracts for the first round of Open Acreage Licensing Policy (OALP) in a week's time

Second tranche of oil fields on offer, Vedanta to get 41 OALP blocks: Govt
Updated On : 10 Aug 2018 | 3:01 AM IST

Centre's small oil fields auction to include 12 from Assam

These 12 fields hold estimated reserve of 21 million metric tonnes of oil and oil equivalent gas

Centre's small oil fields auction to include 12 from Assam
Updated On : 25 Jun 2016 | 6:36 PM IST