Global demand for natural gas is set to keep growing over the next five years, driven by strong consumption in fast-growing Asian economies and supported by the continued development of the international gas trade, the International Energy Agency (IEA) said. Demand for natural gas grew 4.6% in 2018, its fastest annual pace since 2010, according […]
In a 2011 report, the International Energy Agency (IEA) asked a provocative question: are we entering a golden age of gas? At the time, U.S. shale gas production was surging and new fields were coming online around the globe, encouraged by high oil prices. Gas, it seemed, was poised to “play a far more prominent role […]
Gas demand is expected to grow at 3.5% CAGR between fiscals 2018 and 2023 to 191-193 MMSCMD. The main push for incremental demand is expected to come from the fertiliser and city gas distribution (CGD) sectors, ratings agency CRISIL Research said in its latest report. The conversion of naphtha-based urea plants, commissioning of new capacities […]
China’s plan to create a giant oil and gas pipeline company this year as part of its effort to reform the state-owned petroleum industry will shake up the petroleum sector, China Daily said in a report. The new oil and gas pipeline company, which is likely to be established around the middle of this year, […]
India’s Reliance Industries has shut down an oil and gas field in the offshore Krishna-Godavari basin after its production rates began to decline several months ago, the company said in a regulatory filing. The field yielded first oil back in 2008. Reliance has till date made 19 oil and gas discoveries in the KG basin. It is […]
China National Petroleum Corporation (CNPC) and the Abu Dhabi National Oil Company (ADNOC) are expected to sign this month a preliminary deal to invest in oil and gas exploration and refining, Reuters reported last week. CNPC’s international investment unit, CNPC International, is taking the lead in talks with ADNOC, and the deal is expected to be a […]
With production from the offshore Panna-Mukta-Tapti (PMT) fields falling, operator Shell India has written to the Union government that it will not be seeking an extension of its production sharing contract (PSC) which is due to expire in December 2019, reports Financial Express. While Shell India and Reliance Industries hold 30% each in the PMT […]
India’s oil consumption surged 4.5 per cent in April as industrial activity gathered pace in Asia’s third-largest economy and sales of trucks and buses soared. The nation’s total oil demand expanded to 17.7 million tonnes in the month from 16.9 million tonnes during the same month, a year ago, rising for eight straight months, according […]
India’s Energy Efficiency Services Ltd (EESL) is setting a $20 billion market that will include energy efficient gas engines to ‘produce cooling, heat and electricity’ that will halve power costs for establishments like hotels, hospitals and malls, Managing Director Saurabh Kumar said. EESL, which is a joint venture of PSUs under the power ministry, has […]
India launched the first round of bids on Thursday for oil and gas fields identified by prospective bidders under its Open Acreage Licensing (OAL) Programme aimed at raising domestic production to meet growing demand. Fifty-five bidder selected blocks, each carved out by prospective bidders themselves in promising basins with an area of 59,282 sq. kms […]
