ONGC aims to double oil, gas production; to expand refining capacity threefold: Report

State-owned Oil and Natural Gas Corp (ONGC) has set a target to double oil and gas output from its domestic and overseas fields and expand its refining capacity three-fold alongside diversification into renewables in a new vision document for 2040.  ONGC Energy Strategy 2040 envisions the company as “A diversified energy company with a strong […]

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Demand from Asia set to power global gas industry growth over the next five years – IEA

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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 […]

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Europe is entering its golden age of gas

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 […]

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City gas distribution, fertiliser sector to drive gas demand: CRISIL report

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 […]

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India’s Reliance Industries shuts down its oil, gas field in Krishna Godavari basin as output declines

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 […]

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China and Abu Dhabi close to signing oil exploration and oil refining deal – report

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 […]

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