The International Energy Agency (IEA) estimates global oil demand to be highest in five years on weak oil prices. Global refining margins are up 30 per cent year-on-year (YoY)
The Tapti gas field, part of the Panna-Mukta-Tapti asset in the west coast of India, has started showing signs of a rapid early decline in output. According to the latest estimates, the field, which was earlier expected to produce till the end of the next financial year, might see production end by June.
At a recent meeting, a block management committee approved the proposed investment of $4 billion by Reliance Industries and its partners to produce natural gas from the D34 blocks in KG-D6 basin. The partners of RIL in this venture are BP Plc and Niko Resources. D34, which is part of the R-Series gas-field in the block, was declared commercially viable. R-serie
The government is taking steps to ascertain whether Reliance Industries (RIL) hoarded natural gas produced from KG-D6 field in anticipation of higher prices. In this regard, the government plans to appoint a reputed independent consultant. If the consultant feels that RIL hoarded gas in anticipation of higher prices, it wou