Over the last three months, India has been importing more crude oil from Nigeria than the United States, Indian High Commissioner to Nigeria Mahesh Sachdev informed. During a courtesy visit to the Governor of Niger state in northern Nigeria, he said India will continue to cooperate with Nigeria to improve its economy and it will also assist the country in capacity building of workers in both the publi
Tag: Nigeria
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MRPL diversifies source of oil import
Global oil firm BP is learnt to have sold 650,000 barrel of Nigerian Okoro crude oil to MRPL for June 1-15 via a tender at a premium of about $5.60 a barrel to dated Brent. MRPL has also reportedly bought 650,000 barrels of Gabon's Rabi light sweet crude oil in a previous tender from Shell for May lifting at a premium of about $3.30 a barre
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SEEPCO, ONGC may close $2 bn oil and gas deal
Sterling Energy and Exploration Production Company (SEEPCO) may sell its 25-30 percent stake in four hydrocarbon blocks in Nigeria to ONGC Videsh, the overseas arm of Oil & Natural Gas Corp (ONGC). The value of the deal, which is not yet finalised, is expected to be $2 billion. Both the companies entered into a confidentiality agreement for the deal and OVL is reportedly conducting due
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OMEL to explore Nigerian block only if investment commitment waived
ONGC Mittal Energy, a joint venture between ONGC Videsh and Mittal Investment Sarl, has reportedly told the Nigerian government that it would explore the OPL-285 oil and gas block only if it is waived of the attendant investment commitment. It may be recalled that the joint venture firm secured exploration rights in OPL-279 and OPL-285 block
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BHEL eyes power projects in Africa
State-owned Bharat Heavy Electricals Ltd (BHEL) will develop power projects in Uganda and Nigeria as part of India's plans to broaden economic engagement with African countries to secure access to oil and gas blocks in the continent.
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Analysis: Towards a secure O&G pipeline infrastructure
Pipelines will criss-cross the country on an accelerated basis over the next five years. Will they be confronted with land acquisition-like problems?
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Telco to go bond route
Bharti Airtel, India's top mobile phone carrier, plans to raise $750 million to $1 billion through a global bond issue to retire its costly Africa debt and fund expansion there.
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PowerGrid bags Rs 1,600 cr transmission in J'khand
Power Grid Corporation of India has bagged the Rs 1,600 crore project to set up 1,000 km of transmission lines and 10 substations in Jharkhand.