Oil drops as low Indian demand offsets recovery optimism
Oil prices dipped as traders weighed weaker fuel demand in India against optimism over the global economic recovery from the coronavirus pandemic.
India
Oil demand in India drops as brutal virus wave convulses nation
India’s Covid-19 crisis has pummelled demand for transport fuels to the lowest in several months, highlighting the risks for energy consumption amid an uneven global recovery from the pandemic.
Petroleum ministry tells India’s ONGC to sell oil fields and find foreign partners
The Indian Ministry of Petroleum and Natural Gas has reportedly told state-owned ONGC to sell stakes in producing oil fields to private companies and find foreign partners for gas fields in the prolific Krishna Godavari (KG) basin.
OPEC+ sticks with plans to gently hike supply as demand recovers
OPEC and its allies recommended proceeding with plans to gently revive oil production as global demand recovers from the pandemic, despite surging infections in India.
BP and Reliance boost KG-D6 deep-water output offshore India
BP and India’s Reliance Industries have started production from a second ultra-deepwater gas field in the Krishan Godavari (KG) basin off India’s east coast.
BW Offshore to scrap Berge Helene at Indian yard
BW Offshore has signed the FPSO Berge Helene over for demolition and recycling in India, the company said.
‘Too risky’ to ease quarantine rules for oil workers, says Scottish Government
The Scottish Government has decided not to let up quarantine rules for oil and gas workers returning from overseas, deciding that doing so would be “too risky”.
India gets first FSRU as LNG import capacity balloons
India’s first floating storage and regasification unit (FSRU) the Höegh Giant docked at H-Energy’s Jaigarh liquefied natural gas (LNG) import terminal in Maharashtra earlier this month and is targeting to start operations in the first week of May - when the first LNG cargo arrives.
Japan’s Mitsui eyes small-scale LNG in India
Japan’s Mitsui aims to invest in India’s nascent small-scale liquefied natural gas (LNG) infrastructure, including logistics and receiving facilities, after signing a memorandum of understanding with Indian company Inoxcva.
India’s appetite for gas will see LNG imports surge
India’s liquefied natural gas (LNG) demand will rise from 25 million tonnes per year (mtpy) in 2020 to almost 45 mtpa in 2030. And it will surge to 85 mtpa by 2040, as domestic production falls sharply, data from Rystad Energy shows.
Cairn remains ‘confident’ as India appeals $1.2bn tribunal ruling
Cairn Energy confirmed today that India had appealed a tribunal’s decision to award the Scottish oil firm $1.2 billion over the breach of an investment treaty.
First oil shipment from Guyana to India sets sail
The first shipment from new oil producer Guyana to the world's third-largest crude importer, India, departed this month from the South American nation in a ship chartered by trader Trafigura, data from Refinitiv Eikon showed on Tuesday.
Big oil steps up investments in Indian gas and renewables
Majors, such as BP, Total and Shell, as well as Asian national oil companies (NOCs), are stepping up their investments in India’s rapidly expanding gas and renewables markets.
India set for record oil demand on recovery from Covid washout
India, once the center of global oil demand growth, expects its fuel consumption to bounce back during the coming year as the nation recoups the losses caused by Covid-19.
India’s biggest oil retailers are focusing on rural revival
If there’s one part of India’s economy that’s been relatively unscathed by the devastating impact of Covid-19 it’s the vast rural hinterlands. And the country’s biggest fuel retailers are sitting up and taking notice.
Shell warns of LNG under-investment
Demand for LNG will continue rising, Shell expects, leading the company to warn of a supply shortage by the mid-decade.
Cairn Energy attempts to seize Indian assets over tax dispute
Cairn Energy is increasing pressure on the Indian government to pay a $1.2 billion arbitration award after filing a lawsuit in the U.S.
Coal use set to surge in India despite renewables boom
Coal-fired power generation is projected to surge in India as the expanding wave of renewable energy capacity cannot keep up with electrification growth in the South Asian country, home to the world’s second biggest population.
India’s ONGC to boost deep-water KG gas volumes
India’s state-backed Oil & Natural Gas Corporation (ONGC) is set to boost deep-water gas production from the Krishna Godavari (KG) basin to between 2.5 million and 3 million cubic meters per day (cm/d) by May this year.
Australia, Japan and Vietnam lead renewable energy shift in Asia Pacific
Australia, Japan and Vietnam are leading the shift to renewable energy in Asia Pacific, according to the latest research from IHS Markit. Significantly, coal and gas power plants are also being built at a brisk pace as part of the energy mix across the region.
IEA sees $1.4 trillion clean energy opportunity in India
India is set for the largest increase in energy demand of any country over the next 20 years. This underscores the potential for policies and investment to accelerate the clean energy transition, the International Energy Agency (IEA) said in a new report.
India courts ExxonMobil with upstream offer
The Indian government is trying to persuade ExxonMobil to take stakes in offshore acreage controlled by state-backed Oil & Natural Gas Corporation (ONGC).
Oxy delivers world-first carbon neutral crude to India
Occidental Petroleum has delivered a first shipment of carbon-neutral oil to Reliance Industries, in India.
Cairn says Kraken and Catcher reaching ‘natural decline phase’, targets ‘Jaws’ prospect with Shell
Scottish oil and gas firm Cairn Energy said today that its partners’ North Sea Catcher and Kraken fields were expected to “enter their natural decline phase” this year.
Total buys 20% stake in Indian solar developer from Adani
Total has bought 20% of solar developer Adani Green Energy (AGEL) from Adani Group, India’s leading infrastructure platform.