Page 4 - Oil And Gas Sector

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

Top headlines: India sticks to growth forecast; Kerala struggles with Covid

Business Standard brings to you the top headlines on Friday

These lesser-known firms set to make a mark in India's oil and gas sector

Nippon Power, South Asia Consultancy, PFH (Poddar Family Holdings) Resources and Chennai-based Adbhoot Estates could be the first ones to start production from blocks awarded during DSF-1 auctions

Iraq oil minister Ihsan Abdul-Jabbar Ismail says gas sector a priority

Iraq's oil sector is rebounding after a catastrophic year triggered by the coronavirus pandemic, with key investment projects on the horizon, Iraq's oil minister said Friday. But he also warned that an enduring bureaucratic culture of fear threatens to stand in the way. Iraq is currently trading oil at $68 per barrel, close to the approximately USD 76 needed for the state to operate without reliance on the central bank to meet government expenditures. Oil Minister Ihsan Abdul-Jabbar Ismail took over the unenviable job of supervising Iraq's most vital industry at the height of an oil price crash that slashed oil revenues by more than half last year. Since then, he has had to balance domestic demands for more revenue to fund state coffers and pressure from OPEC to keep exports low to stabilise the global oil market. With the sector rebounding, Ismail told The Associated Press, he can now focus on other priorities. In the interview, he offered a rare glimpse into the inner-workings of

OPEC wins, the West loses

Judges, investors force oil firms towards low-carbon future

Farzad-B gas field: India one of the losers in energy politics of West Asia

Last week, after chasing India to develop the field for 13 years, Iran announced that it will develop the offshore gas field, which runs along the country's maritime border with Saudi Arabia

Oil marketing firms: Gross refining margin, demand remain under pressure

Q4 numbers were boosted by inventory gains

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

Cairn Energy offers to forego $500 mn if India agrees to pay principal due

The Scottish firm invested in the oil and gas sector in India in 1994 and a decade later it made a huge oil discovery in Rajasthan

Ad agencies step away from oil and gas in echo of cigarette exodus

Guy Hayward, global chief executive of Forsman & Bodenfors, an international ad agency, said its New York office has signed a pledge to no longer work for oil and gas producers