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Bahri expands India presence with new Mumbai office

Bahri expands India presence with new Mumbai office

Bahri, a global leader in logistics and transportation, has opened a new office in Mumbai to strengthen its presence in the fast-growing Indian maritime industry and lay the foundation to offer diverse shipping services to domestic customers.

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Strategic Petroleum Reserves created at 3 locations

Strategic Petroleum Reserves created at 3 locations

Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan has informed the Rajya Sabha in a written reply that under the Strategic Petroleum Reserve project Phase-I, underground rock caverns for storage of 5.33 MMT of crude oil at three locations, viz. Vishakhapatnam (1.33 MMT), Mangalore (1.50 MMT) and Padur (2.5 MMT) have been created.

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OVL wants oil in lieu of $537 million cash due from Venezuela

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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OVL seeks oil in lieu of $537 million due from Venezuela

OVL seeks oil in lieu of $537 million due from Venezuela

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is seeking $537 million worth of crude oil in lieu of cash due for its share of sales from a Venezuelan oilfield. OVL owns 40 per cent of the San Cristobal field and had invested about $190 million in the project in 2008.

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ONGC to invest $5 bln in KG Basin

ONGC to invest $5 bln in KG Basin

State-run Oil and Natural Gas Corporation (ONGC) has unveiled a Rs.34,000 crore ($5 billion) long-delayed investment plan to develop its KG Basin fields. This will help boost ONGC's oil and gas output by a fifth in about four years.

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IL&FS Engineering bags Rs.52.4-cr GAIL contract

IL&FS Engineering bags Rs.52.4-cr GAIL contract

IL&FS Engineering and Construction Company Ltd has received the Letter of Acceptance (LoA) from Gas Authority of India Ltd (GAIL) for laying and construction of a pipeline along with associated works for a pipeline replacement project in Gujarat.