The government has won a major portion of the $1 billion arbitration with Reliance Industries and British firm BG Group over recovery of cost in western offshore Panna/Mukta and Tapti oil & gas fields.
Category: Oil & Gas
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Indian Oil, GAIL ink MoU for equity stake in Dhamra LNG terminal
Indian Oil Corporation Limited and GAIL (India) Limited signed an MoU with Dhamra LNG Terminal Private Limited (DLTPL) for equity in the 5 MMTPA capacity LNG receiving, storage and re-gasification terminal being set up at Dhamra Port, Odisha.
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ONGC nod for stake in GSPC gas block
State-owned Oil and Natural Gas Corp (ONGC) has approved signing of a preliminary agreement to buy a stake in Gujarat government firm GSPC´s KG basin gas block, according to a reportin the Business Line.
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OVL wants oil in lieu of $537 million cash due from Venezuela
ONGC Videsh Ltd (OVL), the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), wants $537 million worth of crude oil in lieu of cash due for its share of sales from Venezuelan oilfield. OVL owns 40 per cent of the San Cristobal field and invested $190 million in 2008.
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BP looks to sell 8.5percent stake in Castrol India
BP wants to sell 8.5 per cent stake in Indian subsidiary Castrol India through a block deal worth Rs.1,750 crore.
The share sale at an indicative range of Rs.408 - Rs.422.50 per share.
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Higher oil demand growth expected this year
India´s oil demand growth will exceed 11 per cent this year as the world´s third-largest oil and gas consumer fires up its economic development, said Minister of Petroleum and Natural Gas Dharmendra Pradhan.
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Indian consortium to buy stake in Russian oilfield for $3.14 bn
Indian Oil Corp, Oil India and a unit of Bharat Petroleum Corporation (BPCL) will buy a 29.9 per cent stake in the Taas-Yuryakh oilfield in East Siberia for $1.12 billion and another 23.9 per cent in Vankor oilfield for $2.02 billion.
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Petrol consumption to grow 6% in FY 2017-18
India's petroleum consumption will grow at 6 per cent in financial year (FY) 2017-18, double the rate at which fuel demand in China is projected to grow, according to Moody's Investors Service.
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ONGC approves stake in GSPC gas block
The board of state-owned Oil and Natural Gas Corp (ONGC) has approved signing of a preliminary agreement for buying a stake in Gujarat government firm GSPCÂ’s KG basin gas block, reports Business Line.
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Indian Oil, GAIL sign MoU for equity stake in Dhamra LNG terminal
Indian Oil Corporation Limited and GAIL (India) Limited have signed an MoU with Dhamra LNG Terminal Private Limited (DLTPL) for taking equity in the 5 MMTPA capacity LNG receiving, storage and re-gasification terminal being set up at Dhamra Port, Odisha. The agreement was signed in New Delhi in the presence of Minister of State for Petroleum and Natural Gas Dharmendra Pradhan.