BW Offshore’s strategy for recycling its end-of-life floating production storage and offloading (FPSOs) units has been criticised following a fatality at a ship breaking yard in India. BW is one of the largest operators of FPSOs for the oil and gas sector, but its decommissioned units are being dismantled in yards with questionable health, safety, and environmental credentials.
India’s liquefied natural gas (LNG) importers are purchasing extra volumes from Russia at a discount as most other spot buyers shun the fuel.
Indonesia’s national oil and gas company Pertamina has decided to cancel an earlier plan to buy discounted crude oil from Russia as domestic fuel stocks are now deemed sufficient.
Germany and India have signed a series of bilateral agreements that will see the South Asian country get 10 billion euros ($10.5 billion) in aid by 2030 to boost the use of clean energy.
Sweltering heat and ongoing blackouts are forcing India’s liquefied natural gas (LNG) importers to top up with expensive shipments.
India is trying to get deeper discounts on Russian oil to compensate for the risk of dealing with the OPEC+ producer as other buyers turn away, according to people with knowledge of the matter.
Nuclear power will play a crucial role in China’s decarbonisation drive with capacity set to expand 7% every year to 2035, according to S&P Global Ratings.
India’s Oil and Natural Gas Corporation Limited (ONGC) and Norway’s Equinor will collaborate in the areas of upstream exploration and production (E&P), midstream, downstream, and clean energy options, including carbon capture utilisation and storage (CCUS) in India, after the pair signed a memorandum of understanding (MoU).
Oil giant Shell (LON: SHEL) has struck a £1.2 billion deal to acquire Indian renewables company Sprng Energy.
A worker reportedly lost his life while scrapping an FPSO unit, formerly owned by Oslo-listed BW Offshore (OL:BWO), at an Indian beaching yard on 21 April, according to a report from an NGO. However, BW Offshore denied the report, and said Wednesday that the incident “was unrelated to the ongoing recycling of former BW Offshore FPSOs at the yard.”
ExxonMobil said Wednesday that it has declared force majeure for its Sakhalin-1 operations in Far East Russia after it became too difficult to ship crude oil due to sanctions, reported Reuters.
Sprng Energy Pvt is nearing a deal for Shell to acquire the Indian renewable power producer for about $1.8 billion including debt, people with knowledge of the matter said.
A group of investors led by BlackRock Real Assets and Mubadala Investment Co. infused 40 billion rupees ($525 million) into the renewable energy unit of Tata Power Co., the Mumbai-based company said.
US president Joe Biden has told Indian Prime Minister Narendra Modi that increasing oil imports from Russia is not in India’s interest.
Japan’s Mitsui has agreed to make an investment in a large-scale 1.3GW renewable energy project that India’s ReNew Power is developing.
About 650,000 barrels per day (b/d) of Russian crude oil are to be relocated from advanced economies, and the solution could be ‘crude swapping’, says Wood Mackenzie. Significantly, Russia’s key market China not shoring up large volumes yet.
BP has reached out to state-backed firms in Asia and the Middle East as it searches for a way to offload its Russian assets.
India plans to sell as much as 1.5% stake in state-run Oil & Natural Gas Corp., via an offer for sale starting Wednesday, according to an exchange filing.
Gazprom has asked India's largest gas transmitter GAIL (India) to pay for gas imports in euros instead of dollars, two sources said, in a sign the Russian energy giant seeks to wean itself away from the US currency in the wake of the Ukraine conflict, reported Reuters.
India is well positioned to capitalise on Russian oil opportunities and is gradually stepping up as a buyer of Russia’s oil exports.
US engineering giant McDermott has delivered the first ever pipe-in-pipe flowline for production in India as part of Oil & Natural Gas Corporation’s (ONGC)'s KG-DWN 98/2 project in the Krishna Godavari (KG) basin off India’s eastern coast. Significantly, the development is the largest and one of the most complex subsea projects in Asia Pacific, involving major subsea infrastructure installation in ultra-deepwater.
India’s Reliance New Energy will acquire all the assets of battery maker Lithium Werks for $61 million
Germany’s RWE and India’s Tata Power are teaming up to explore the potential development of offshore wind projects in India. Significantly, India remains an unexplored and highly attractive market for offshore wind given its large coastline of 7,600 kms.
BW Offshore has signed a deal to recycle its BW Cidade de São Vicente at a yard in India, in compliance with the Hong Kong International Convention.
Subsea opportunities will be plentiful in Asia Pacific over the coming years as international oil companies (IOCs) and national oil companies (NOCs) advance a backlog of projects, while offshore wind developers accelerate activity across the region.