Page 4 - Oil And Gas Sector

Avoid sectors having global exposure like IT, oil, gas: ICICI Securities

ICICI Securities Ltd on Wednesday said its one year forward Nifty target is 19,425 with sectorial bias towards banks, capital goods/infrastructure and automobiles

Centre to relax rules, fast-track new measures for oil & gas exploration

More processes to be brought under the self-certification framework while clearance portal is being upgraded

OPEC+ cuts oil output, gas prices soar: What's next for investors?

OPEC+ meeting: While analysts said the current output cut is insignificant to move the needle on oil prices, they cautioned that more output cuts may push oil prices higher, impacting India

Storage targets met in Germany, gas to be cheaper soon, says minister

EU to hold emergency energy talks on September 9, says minister

BP boosts dividend after Q2 profit hits 14-year high of $8.45 bn

BP boosts dividend by 10%; BP to boost spending on oil and gas, CEO says; profits driven by strong oil trading, hit by LNG

Germany's union warns of collapse of industries due to cuts in Russian gas

Warning of a potential total breakdown of Russian gas supplies, Germany's top power grid regulator called for greater efforts to save energy

Domestic crude oil producers get marketing freedom, exports not allowed

According to a government statement, this move shall ensure marketing freedom for all exploration and production (E&P) operators

Aramco's profits surge 80% in Q1 as company cashes in on global volatility

Saudi Aramco's profits soared more than 80% in the first three months of the year, as the state-backed company cashes in on the volatility in global energy markets and soaring oil prices

ONGC commissions Rs 6,000 crore projects to boost oil, gas output

State-owned Oil and Natural Gas Corporation (ONGC) has commissioned two projects costing Rs 6,000 crore to add 7.5 million tonnes of oil production and 1 billion cubic meters of gas output over the life of the Mumbai High fields, as it doubles down efforts to raise productivity from mature and aging fields. A Rs 3,740-crore spend has been made on a state-of-the-art 8-legged water injection-cum-living quarter platform, as part of the Mumbai High South Redevelopment Phase-IV, while Rs 2,292.46 crore have been spent on Cluster-8 marginal field development project at Mumbai High, the company said in a statement. "The two projects will result in an incremental gain of 7.5 million tonnes of oil and more than 1 BCM of gas," it said. Oil Minister Hardeep Singh Puri dedicated the two major projects to the nation at Western offshore on April 23. He was accompanied by chairman Alka Mittal, Director (T&FS) O P Singh and Director (Offshore) Pankaj Kumar. "The minister expressed his ...

Indian Oil Corp buys 4 million bbls of crude via tenders: Report

Indian Oil Corp, the country's top refiner, has purchased a total of 4 million barrels of crude via tenders for May and June loading, traders said on Wednesday.

Russia urges India to deepen investments in its oil and gas sector

Russia is keen on expanding the sales networks of Russian companies in Asia's third-largest economy.

Joe Biden's Russia sanctions may let Moscow profit from oil, gas

There is a glaring carve-out in Biden's sanctions against Russia: Oil and natural gas from that country will continue to flow freely to the rest of the world and money will keep flowing into Russia.

Moody's expects OMCs' margins to improve over 12-18 months on higher demand

'We expect the regional refining benchmark to average around $3-4/bbl over the next 12-18 months, balancing our expectations of demand recovery alongside incoming capacity additions,' says Moody's

ExxonMobil eyes more long-term gas supply deals with India

At present Exxon has a long-term contract to annually supply 1.5 million tonnes of liquefied natural gas to Indian firm Petronet LNG

ExxonMobil to move headquarters to Houston from Dallas suburb

The move is scheduled to be completed by mid-2023, the company said in a statement, becoming the largest Fortune 500 company in the metro area of Houston

Adani Total Gas Ltd to invest Rs 20,000 cr in city gas over eight years

Firm has won licenses to expand its City Gas Distribution network to 14 new geographies in the recently concluded 11th round of CGD bidding by the Petroleum and Natural Gas Regulatory Board

ONGC scripts turnaround of subsidiaries, OPaL reports first profit

ONGC holds 49.36 per cent stake in the 1.1 million tons per annum capacity OPaL, GAIL has 49.21 per cent and GSPC the remaining 1.43 per cent.

Govt sets up committee for stable gas price for power units: Oil Secretary

The government has set up a committee to work out measures need to make natural gas available to power plants at 'reasonably stable prices', Oil Secretary Tarun Kapoor said on Thursday.

Global oil and gas investment will be 30% below pre-Covid level: ONGC

Says country's energy mix leans heavily on fossil fuels, which meet 90% of domestic demand; India's energy needs to at least double by 2050 with strong growth expected in natural gas

Oil regulator PNGRB seeks bids for city gas retailing licence for 65 areas

Oil regulator PNGRB on Friday invited bids for giving out city gas retailing licence in 65 geographical areas (GAs) including Jammu, Nagpur, Pathankot and Madurai