Oil And Gas Sector

15 states sue Trump over emergency order to fast-track oil, gas projects

A coalition of 15 states is suing over President Donald Trump's efforts to fast-track energy-related projects, saying the administration is bypassing environmental protection laws and threatening endangered species, critical habitat and cultural resources. Trump issued an executive order declaring a national energy emergency on the first day of his presidency. The order urges oil and gas expansion through federal use of eminent domain and the Defense Production Act, which allows the government to use private land and resources to produce goods deemed to be a national necessity. Those kinds of steps are supposed to be reserved for actual emergencies, such as projects needed in the aftermath of disasters like hurricanes, flooding or major oil spills, the attorneys general wrote in the lawsuit filed in Washington state on Friday. But now, Washington state Attorney General Nick Brown and the other plaintiffs said, agencies like the US Army Corps of Engineers and the Department of Interi

Russian oil drives Opec share in India's imports to record low, data shows

Import of Russian oil rose 7.3 per cent to 1.76 million bpd, raising its share marginally to 36 per cent while OPEC's share slipped slightly to 48.5 per cent, the data showed

BSE Oil & Gas index up 2%; ONGC, Oil India, GAIL surge up to 4%

British energy major BP, along with Reliance Industries and ONGC, has secured an offshore block off the Gujarat coast in the latest exploration bidding round

ONGC wins 11 blocks in round 9 of national oil and gas asset auctions

Private company Cairn wins 7; BP wins offshore block in Saurashtra basin

Govt plans cheap gas lifeline for LNG trucks; aims to revive closed outlets

Indian Oil, the largest operator of LNG truck outlets, has shut five of its six outlets for lack of business, with only one in Sriperumbudur, an industrial area outside Chennai, still operational

India's oil production in dire straits as fuel use continues to be strong

Oil India's output is expected to decline by 21 per cent to 66,000 bpd by 2029-30 from 84,000 bpd next financial year, according to the report

Margin woes to continue for city gas distribution companies in Q4

Continued geopolitical tensions will keep Europe's demand high in CY25

BP turns back to fossils, to increase annual oil, gas investment to $10 bn

The oil major slashed planned annual investment in transition businesses by more than $5 billion than its previous forecast, to between $1.5 billion and $2 billion per year

Trump's tariffs and Russian oil woes deepen crisis for Indian OMCs

A sharp rise in LNG prices threatens to unravel India's projected 12% growth in demand for the fuel this financial year

Higher production likely to help revive investor sentiment in ONGC

Brent crude oil price per barrel averaged $75 in Q3 (vs $80.7 in Q2), with weak demand and comfortable supply

Oil and gas producers call for tax reforms in the upcoming Budget

Seek relief from state levies, Customs duties, pitch for single window clearance system

Norway's Equinor, Shell plan to form UK oil and gas joint venture

Joint venture will be based in Aberdeen, Scotland, and will be set up to sustain domestic oil and gas production and security of energy supply in Britain, Equinor said

Gail signs 10-yr deal to buy up to 0.52 mn tonnes LNG per yr with ADNOC Gas

State-owned gas utility GAIL (India) Ltd on Thursday said it has signed a 10-year deal to buy up to 0.52 million tonnes per annum of liquefied natural gas (LNG) from Abu Dhabi's ADNOC Gas starting 2026. This is the first sales and purchase agreement (SPA) that ADNOC Gas has signed with an Indian buyer. "The LNG will be delivered in six cargoes per year from ADNOC Gas' Das Island natural gas facility, which has an LNG processing capacity of 6.0 million tonnes per annum. It is the third longest established LNG plant still in production globally," GAIL said in a statement. Sanjay Kumar, Director (Marketing), GAIL said: "India is witnessing a growing demand for LNG to meet its increasing natural gas demand in a diversified sectoral pattern. GAIL plans to significantly increase its term LNG portfolio in the coming years to meet this rising demand. This SPA with ADNOC Gas is a crucial step in this direction, enabling GAIL to augment its existing LNG portfolio to better serve its diverse .

Host nation Azerbaijan defends oil, gas sector at COP29 amid West criticism

Azerbaijan's oil and gas revenues accounted for 35 per cent of its economy in 2023, down from 50 per cent two years earlier. The government says these revenues will decline to 22 per cent by 2028

Josler Energy, IGL, Heath Consultants join hands for safe, green gas infra

Oil exploration and production player Josler Energy on Monday announced its collaboration with Heath Consultants, Inc and Indraprastha Gas Ltd under the US-India Low Emissions Gas Task Force (LEGT). As per the collaboration, advanced gas leak detection technologies will be introduced into IGL's gas distribution network that spans Delhi-NCR, Haryana, Uttar Pradesh and Rajasthan. The MoU, signed between IGL and Heath Consultants at GASTECH 2024, Houston, is a significant step towards reducing methane emissions and bolstering public safety across IGL's network, a company statement said. Josler Energy will provide technical support, field expertise, and training to IGL's employees, empowering them to utilize the latest technologies and best practices in gas leak detection. Since 2019, Josler Energy has surveyed over 20,000 kilometers of underground pipelines, preventing dangerous leaks that threaten public safety, the environment, and financial resources. "Partnering with Heath ...

US oil, gas M&A activity rose 57% in 2023 as industry consolidated: Report

The jump in spending on dealmaking and expanding reserves marks a shift in strategy following a years-long focus on shareholder returns over growth, which many firms had employed

India's clean air target at risk as gas plan caught in regulatory minefield

New Delhi's ambitious targets to clean its air by decarbonising energy sector will be underpinned by its success in building nascent natural gas segment

Oil & Gas stocks surge in volatile session; IGL soars 7%, Gail India 4.5%

With the exception of Adani Total Gas and Aegis Logistics, all stocks within the Nifty Oil & Gas index witnessed gains

Israel-Iran tensions see OMC stocks IOC, BPCL, HPCL slip up to 4% on Friday, April 19

Oil and marketing companies (OMCs) such as Indian Oil Corporation and Hindustan Petroleum Corporation Ltd (HPCL) slumped 4.1 per cent each at Rs 162.20 and Rs 457, respectively in intraday deals

Tamilnadu Petroproducts Q3 result: Hit by cyclone, PAT drops to Rs 2.44 cr

Petrochemical manufacturing company Tamilnadu Petroproducts Ltd has recorded a standalone profit after tax for the October-December 2023 quarter at Rs 2.44 crore, following the impact of cyclone Michaung which led to disruption in manufacturing facilities. The city-based company, part of the AM International - Singapore, had posted a standalone net profit at Rs 25.23 crore, during the corresponding quarter of last year. For the nine months period ending December 31, 2023 the standalone net profit stood at Rs 31.82 crore, as against Rs 79.40 crore registered a year ago. "In the quarter (October-December 2023) we encountered challenges due to the cyclone, leading to disruptions in our manufacturing facilities and loss of plant and machinery. Despite these obstacles, we have successfully restored our operations, minimising disruptions to our customer delivery schedule" said TPL Vice Chairman Ashwin Muthiah. The standalone total income during the quarter under review slipped to Rs 351.