Page 4 - Oil & Gas

Saudi Crown Prince expects upcoming GCC summit to reconcile Gulf Monarchies

The GCC summit will promote peace and unity, Saudi Arabia's Crown Prince Mohammed bin Salman said

Exxon Mobil in talks to buy stake in Indian oil, gas fields: Pradhan

Exxon Mobil had in October last year signed a memorandum of understanding (MoU) with ONGC to offer its expertise and technology for developing resources in offshore blocks.

India's November diesel sales decline 7% after rising in October

The country is the world's third biggest oil importer and consumer.

Covid-19, gas price crash may push back PLL's $2.5-bn deal with Tellurian

The deal would have to be renegotiated given the current market prices or shelved, according to government sources

Govt to spend Rs 1.2 trn on oil, gas exploration and refineries in FY21

State-owned oil firms plan to spend about Rs 1.2 lakh crore in the fiscal year to March 2021 on oil and gas exploration and production and refineries in a bid to boost economic activity in the nation that has been hit hard by the COVID-19 pandemic. As much as Rs 5.88 lakh crore of spending is budgeted for 8,363 projects over the next few years, an official statement said. "Out of the total anticipated cost of these projects, approximately Rs 1.20 lakh crore is targeted to be incurred as capex in FY 2020-21," it said. Oil Minister Dharmendra Pradhan reviewed all ongoing projects of oil and gas companies in a bid to turn the crisis into an opportunity by scaling up work on the projects to create employment and revive growth. "These projects of oil and gas PSUs, their joint ventures and subsidiaries include refinery projects, bio-refineries, exploration and production (E&P) projects, marketing infrastructure projects, pipelines, city gas distribution projects, drilling/survey ...

Oil & gas producers to gain as crude rises, refiners to be hit

Fitch Ratings says the credit metrics of PSU oil & gas firms could weaken due to large downstream capex and potential consolidation

New policies to boost foreign participation in oil and gas: Oil secy

India, which imports about 80 percent of its oil needs, wants to boost its local oil output.

BSE Oil & Gas index hit 9-year high; Indian Oil touches new high

Indian Oil, Oil India, ONGC, Castrol India, BPCL and HPCL were up in the range of 2% to 3% on the BSE.

Oil & gas industry turn to 3D printing to cut costs and raise efficiencies

In an era of low oil prices, 3D printing offers gains in a wide range of use cases, as leaders like Halliburton, Schlumberger, and Shell begin to use the technology, says Lux Research

Technip and FMC bag EPCI award for Statoil's Trestakk field development

While Technip will supply the flexible riser, production flowline, gas injection line, flexible jumpers & umbilicals, FMC Technologies will provide the subsea production system

Oil & Gas shares gain; Petronet LNG, Gail (India), ONGC hit 52-week high

BPCL, HPCL, IOC and Oil India were up in the range of 1%-3% on BSE.

Reliance Defence partners Allrig to provide MRO services to oil & gas industry

Association intends tap opportunities in the oil & gas sector located in the Indian sub-continent and South-East region and the market for which is estimated at Rs 7,000 crore

Collaborate to compete in global oil & gas industry faced with low prices

Indian oil companies should form a consortium to acquire & build acreages abroad including India, says Prabhat Singh, Petronet LNG's MD & CEO

OilMin codifies best practices for petro exploration

Guidelines provide for practices to be followed in key areas including reservoir contiguity and contract extension