State-owned Oil and Natural Gas Corporation (ONGC) has invited bids for the sale of initial 2 million standard cubic meters per day of gas from its KG basin fields at a minimum price of $6.6 per mmBtu. According to the tender document, ONGC intends to start natural gas sale from its KG-DWN-98/2 block, located in the east […]
Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater discoveries. The governments from both countries signed a unitisation agreement to develop the Gumusut-Kakap and Geronggong-Jagus East offshore oil fields. Development will be managed by Malaysian state-owned Petronas and Brunei’s National Unitisation […]
India’s top oil and gas producer ONGC said its capital expenditure during the current fiscal is likely to be close to the Rs 32,500-crore target as it is doubling efforts to make up for the time lost due to the pandemic. At an investors call, Oil and Natural Gas Corp (ONGC) Director (Finance) Subhash Kumar said the COVID-19 […]
Commodity giant, Vedanta reported a 61.8 per cent decline in its consolidated net profit at Rs 824 crore for the quarter ended September 30, 2020 on the back of one-time tax expense. The company posted a net profit of Rs 2,158 crore in the year-ago period, Vedanta said in a filing to BSE. Income during July-September […]
Argentina has invited companies from India to participate in the oil and gas exploration bidding rounds likely to be organized by the Argentine provinces. Additionally, India and Argentina are also having talks to implement an agreement in the field of lithium signed between the Indian company KABIL and Argentine JEMSE in July 2020. KABIL (Khanij […]
Delays in bidding rounds notwithstanding, the government has increased the expression of interest (EoI) submission cycle for oil and gas acreage to three times a year from two times earlier, the Directorate General of Hydrocarbons (DGH) said. India had in July 2017, allowed companies to carve out blocks of their choice with a view to […]
Libya’s state-held National Oil Corporation (NOC) has budgeted an amount of $50 billion to invest in its oil and gas sector this year, as it looks to overcome safety and security challenges and restore oil production to the pre-civil war level of 1.6 million bpd, the chairman of one of NOC’s subsidiaries told S&P Global Platts in […]
Private capital tracker Preqin says in an update that contrary to expectations, 2018 was another bumper year for the metals and minerals industry, particularly for natural resources investments. Fundraising by unlisted funds for investment in natural resources – oil and gas, timberland, farmland, water and mines – set a fresh record in 2018 and is […]
France’s Total SA is planning to push forward with a $1 billion investment in a giant Iranian gas field, marking the first commitment by a Western company to put real money into the Islamic Republic’s re-emerging energy industry. The Paris-based oil giant has been at the forefront of Western energy companies looking to return to […]
In perhaps the largest deal in the US oil and gas industry for almost three years EQT Corporation will acquire Rice Energy in a $6.7 billion deal that will combine two of the leading producers in Pennsylvania’s Marcellus Shale to become the largest natural gas producer in the US. The deal will give Rice shareholders […]
