McDermott wraps up project offshore India for Reliance
McDermott International said today it had wrapped up the KG-D6 R Cluster subsea field development project off the east coast of India.
India
Updated: Cairn Energy shares soar as firm awarded £900m in long-running India tax row
Shares in Cairn Energy soared after the Scottish oil and gas firm announced it had prevailed in a long-running tax dispute with the Indian Government.
Aramco’s Nasser talks up low-carbon oil
Saudi Aramco sees a recovery for oil demand in the second half of 2021 and, in the longer term, hydrocarbons will continue to compete with energy transition options.
Oil rises with China economic recovery, US ruling out lockdown
Oil has risen on optimism over China’s recovery from a virus-led demand crash and as advisers to President-elect Joe Biden ruled out a national lockdown to curb the spread of Covid-19.
Traders talk peak demand and an upstream shift
Demand in Europe and the US may have peaked already, the heads of three trading companies have said, but growth will be sustained by Asia.
Threat of Venezuela sanctions has Reliance buying Canadian crude
Venezuela’s dwindling oil exports were dealt another blow as one of India’s top refiners secured millions of barrels of Canadian crude on concern that the U.S. is poised to step up sanctions against Caracas.
Tanker with 2 million barrels oil catches fire off Sri Lanka
An oil tanker loaded with two million barrels of Kuwati crude sailing toward India’s Paradip refinery caught fire Thursday morning off Sri Lanka’s coast, raising concerns about an oil spill.
BP’s $6bn deep-water project faces sales price risk in India
Imported LNG looks more price competitive compared to India’s new deep-water gas production over the next two to three years
Total enters into joint venture with Indian Oil Corporation
Total has entered into a partnership with Indian Oil Corporation (IOC) to manufacture and market bitumen derivatives.
Cairn-India arbitration ruling expected soon despite Covid disruption
Scottish oil firm Cairn Energy said today that Covid-19 should not significantly delay the long-awaited outcome of its £1.1 billion ($1.4bn) arbitration claim against India.
Venezuela oil crisis deepens as Indian refiners halting imports
India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.
IEA: short-term pain to balance out in second half
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Mozambique shows off Rovuma’s £42bn investment in bid to attract North Sea suppliers
Officials from Mozambique have showcased the level of investment in the prolific Rovuma basin in a bid to attract the expertise of North Sea companies to its supply chain.
Reasons for optimism: Taking stock of carbon reduction achievements and possibilities
As we enter a new decade, I’m sure I’m not alone in reflecting on matters that are personally important, together with major issues that impact on society, the environment and the economy.
IOC sets out the Indian advantage
When Indian Oil Corp. (IOC) was launched it focused on the downstream and has subsequently expanded into the upstream, while also moving into petrochemicals.
Low demand, US supply squeeze OPEC
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
Cairn expects Indian arbitration outcome next year, drills duster in Mexico
Scottish oil firm Cairn Energy said today that the long-awaited outcome of its arbitration claim against India could be delivered next year.
Shell takes 20% stake in Indian solar firm Orb Energy
Shell has taken a 20% stake in Indian solar firm Orb Energy as part of a drive to deliver a reliable source of electricity to 100 million people in the developing world by 2030.
Tellurian signs $7.5bn US LNG pact with Petronet
Tellurian Inc. said it signed a $7.5 billion agreement for India’s Petronet LNG Ltd. to buy into its proposed liquefied natural gas terminal in Louisiana, in what could potentially be one of the largest foreign investments in the U.S. to ship shale gas abroad.
Saudi Aramco regaining grip on world’s fastest-growing oil market
Saudi Aramco’s proposed purchase of part of India’s Reliance Industries Ltd. will allow it to regain its grip on the world’s fastest-growing oil market where suppliers including the U.S. and Russia are making inroads.
TechnipFMC announces major contract awards for Indian deepwater project
TechnipFMC has announced the award of a number of “significant” contracts for a deepwater project off the coast of India.
Expro wins multimillion dollar vessel contract with Indian operator
UK oilfield services firm Expro has won a multimillion dollar contract for work on an offshore production vessel for an Indian operator.
Updated: US won’t renew sanctions waivers for Iran oil customers, Brent climbs
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Cairn posts losses of almost £1bn amid India, Kraken troubles
Scottish oil firm Cairn Energy vowed to go after "material" exploration targets this year despite suffering losses of almost £1 billion in 2018.
Updated: Cairn shares drop as Indian arbitration outcome delayed
Shares in Cairn Energy slid today after the Scottish oil firm said the outcome of its arbitration claim against India would not to be delivered “before late 2019”.