ONGC Videsh and BPCL’s Mozambique LNG project to stop indefinitely on outbreak of violence

The $20 billion liquefied natural gas project in Mozambique, where two state-owned Indian firms – ONGC Videsh Ltd (OVL) and BPCL together hold a 30 per cent stake, has been suspended indefinitely after an escalation of violence in the area, according to a regulatory filing. French energy giant Total SE, which is the project lead, declared force majeure on its LNG […]

Read more

ONGC increases its share in India’s oil and gas production to 70% from 53% a decade ago

State-owned ONGC has seen its contribution to the national production jump to over 70 per cent from under 53 per cent a decade back, petroleum ministry data showed. While Oil and Natural Gas Corporation (ONGC) maintained production levels, output by other operators has dropped, leading to an overall fall in India’s output and a sharp rise in import […]

Read more

Oil India makes gas discovery in Assam; Q2 net profit drops by 42% to Rs 381 crore on blowout expenses

Gazprom-2-oil-rig.jpg

Oil India Ltd, the nation’s second-largest state oil producer declared natural gas discovery at a well drilled in Tinsukia, Assam. “The discovery will open up new areas for further oil and gas exploration in Assam and would help in enhancing the gas production with future appraisal and development activities,” the company said in a statement. Oil […]

Read more

India and Mozambique agree to develop Rovuma gas discovery

India and Mozambique have agreed to expedite development of the giant Rovuma gas discovery in Mozambique, which is planned to be converted into LNG for exports. Oil Minister Dharmendra Pradhan, who is in the African country to attend the LNG Producer–Consumer Conference, met his Mozambique counterpart Leticia Klemens to discuss the development of the gas […]

Read more