UAE’s Adnoc, Saudi Aramco both interested in India’s strategic petroleum reserves venture

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UAE’s Abu Dhabi National Oil Company (Adnoc) and Saudi Arabia’s Aramco have shown interest in participating in the country’s strategic petroleum reserves programme. The government of India had recently announced its intention to rope in prospective partners like financial investors, foreign oil companies, and large construction firms to build the proposed oil reserves. There is […]

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No Reliance, no oil superpower in race to acquire BPCL

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On Monday, the stipulated deadline for BPCL bids, the government received ‘multiple’ bids for buying out its stake in India’s second-biggest fuel retailer BPCL. Negating all speculations, Reliance Industries as well as supermajors Saudi Aramco, British BP and French Total did not make a bid. Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM), […]

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ADNOC seeks Indian partners for its proposed $ 45 billion petrochem expansion plans

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Abu Dhabi National Oil Company (ADNOC), UAE’s biggest energy producer, is seeking Indian companies for partnership in its ambitious USD 45 billion downstream petrochemical expansion plans. ADNOC CEO Sultan Ahmed Al Jaber, along with global energy chief executives had a virtual session with India’s Prime Minister during the India Energy Week held earlier this week. A […]

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Saudi Aramco and ADNOC committed to $44 billion west coast refinery project: IOC Chairman

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Saudi Arabian Oil Co (Saudi Aramco) and Abu Dhabi National Oil Co (ADNOC) are still committed to investing in the planned USD 44 billion west coast refinery-cum-petrochemical project. At the Energy Intelligence Forum 2020, Indian Oil Corp (IOC) Chairman Shrikant Madhav Vaidya said, “Both ADNOC and Saudi Aramco are still committed to the investments in […]

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Filling strategic reserves with low-priced oil saved India Rs 5,000 crore, says minister

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India saved over Rs 5,000 crore during April, May this year, when the country used two-decades low international oil prices to fill up its three strategic underground crude oil storages, Petroleum Minister Dharmendra Pradhan said. “Taking advantage of the low crude oil prices in the international market, India purchased 16.71 million barrels (mbbl) of crude […]

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