Petrofac secures two contracts worth around $100m for work in India
Petrofac (LON: PFC) has landed two contracts with India’s largest private oil and gas exploration company.
India
Companies named and shamed for sending ships to ‘dire’ beaching yards
Saipem and BW Offshore are among a host of companies that have been shamed for sending their vessels to the “infamous shipbreaking beaches of South Asia”.
Ambani with $75 billion plan to make India a hydrogen hub
Billionaire Mukesh Ambani is making an ambitious effort to pivot his conglomerate Reliance Industries Ltd. toward green energy which could transform India into a clean hydrogen juggernaut.
Global nuclear investments on the rise: $91 billion to be spent in next two years
Nuclear power can be a polarising energy source, but as countries seek cleaner, low-carbon alternatives to fossil fuels, investments in nuclear are projected to soar in the coming years, particularly in China, India and Russia, the latest research from Rystad Energy shows. The consultancy estimates $91 billion will be invested in the global nuclear sector by the end of next year.
Asia’s richest man plans to invest $76 billion in green projects
The conglomerate led by Mukesh Ambani, Asia’s richest man, announced plans to invest $76 billion toward clean energy projects, dwarfing an earlier commitment of $10 billion by the world’s biggest fossil-fuel billionaire.
Ambitious Cairn hires former BP exec as COO
Cairn Oil & Gas, India’s largest private exploration and production company, has appointed former BP executive Martyn Smith as chief operating officer.
Security improves in northern Mozambique but tests are ahead
The military intervention in northern Mozambique has seen some successes, but with the recent death of a South African soldier and talk of the insurgency shifting, it is far from over.
Hunting announces new joint venture in India
London-headquartered energy services firm Hunting Plc (LON:HTG) has set up a new joint venture to take advantage of work in India.
India offers eight upstream blocks in new bid round
The government of India is offering eight upstream blocks in its latest licensing round as it seeks to boost domestic production and reduce its reliance on imports.
Reliance’s $15bn Aramco deal goes awry as priorities shift
Reliance Industries scrapped a plan announced more than two years ago to sell a 20% stake in its oil-to-chemicals unit to Saudi Arabian Oil Co. as the Indian company focuses on its renewable energy investments.
Biden calls for major oil reserve sales, but in Asia, that’s not so easy
Dwindling inventories and concerns over energy security in key Asian economies may hamstring US efforts to arrange for a sizeable and coordinated release of strategic crude reserves in a bid to rein in prices and tackle inflation.
India’s COP26 targets boost outlook for renewables growth
New climate targets announced at the COP26 summit by Indian Prime minister Narendra Modi look set to boost renewable energy growth. However, India’s insatiable demand for electricity will keep the market highly reliant on coal power, posing challenges to the country's decarbonisation plans, according to Fitch Solutions.
Scots oil firm Cairn Energy to change name to Capricorn
Scottish oil firm Cairn Energy (LON: CNE) has announced it will change its name to Capricorn Energy, effective from December 13.
India will reach net zero emissions by 2070, Modi tells COP26
India will cut its climate emissions to "net zero" by 2070, the country's prime minister Narendra Modi has told the Cop26 summit.
Gazprom ships first LNG to India via Northern Sea Route
Russia’s Gazprom (MCX:GAZP) said its Marshal Vasilevskiy vessel passed through the Northern Sea Route (NSR) with a cargo of liquefied natural gas (LNG) for the first time ever. The Russian LNG cargo was delivered under long-term contract to Indian company GAIL.
Asia snaps up American shale gas to keep boilers, furnaces lit
Asian liquefied natural gas (LNG) traders are rushing to secure shipments from the US, where prices are among the cheapest in the world, amid a dash to replenish supply before the winter.
ExxonMobil talks over deepwater deals with India’s ONGC
ExxonMobil (NYSE:XOM) is reportedly discussing acquiring stakes in some deepwater fields from state-backed India’s Oil and Natural Gas Corporation (ONGC).
La Nina threatens to worsen Asian energy crisis with colder winter
A weather phenomenon that typically delivers harsher winters is on the way and expected to add to Asia’s energy crisis.
Guide: The polluting countries that could derail COP26 climate talks
More than 190 countries signed on the dotted line of the Paris Agreement in 2015, forming a new global consensus on the imperative to halt rising temperatures. The collective results since then haven’t been enough.
India can do more on climate by 2030 even as it snubs net-zero
India plans to take more ambitious climate action by 2030, even as the nation pushes back against pressure to set a target for net-zero greenhouse gas emissions.
Technip wins gig at one of India’s largest hydrogen projects
Technip Energies (PARIS:TE) has been awarded an engineering, procurement, construction and commissioning contract by NTPC for its Proton Exchange Membrane (PEM) Based Hydrogen Generation Plant project at Vindhyachal, Madhya Pradesh, India.
India’s Reliance accelerates push into renewable energy with two acquisitions
Mukesh Ambani’s Reliance Industries (NSE:RELIANCE) acquired a Norwegian solar panel maker and an Indian builder of renewable projects in a bid by the oil-to-retail conglomerate to extend its dominance into alternative energy.
Oil Plus picks up trio of global contracts worth £1.5m
Oil Plus, a consultancy owned by a well known north-east entrepreneur, has secured a number of international contract awards totalling more than £1.5million in the first half of this year.
BP Ventures makes first investment in India
BP Ventures has made its first direct investment in India, splashing out $13 million on integrated EV ride-hailing and charging company BluSmart.
Norwell Engineering wins £20million contract with ONGC on giant India deepwater project
Aberdeen-headquartered Norwell Engineering has landed a contract worth more than £20million with ONGC on one of the world’s largest deepwater projects.