Oil marketing major Hindustan Petroleum Corporation Limited (HPCL) and commercial vehicle manufacturer Tata Motors Limited announced signing of an MoU for a pilot program that aims to collect and recycle used automotive lubricants.
The JV of ONCG, RIL and BGEPIL_Shell successfully completed the first decommissioning of an offshore oil rig in India.
Oil major ONGC has onboarded BP Exploration as Technical Services Provider for its Mumbai High Field, a multi-layered field located in the Mumbai offshore area.
The world’s top listed oil firms suffered historic losses in 2020 as the Covid-19 pandemic sent demand and prices tumbling.
Bracing for unforeseen price shocks and supply disruptions, India is trying to strengthen its Strategic Petroleum Reserves (SPRs) in partnership with foreign oil producers and traders.
The recent surge in crude oil prices along with a nosediving rupee is likely to jack up India’s oil import bill by over 42 percent to more than US$125 billion in fiscal year (April-March) 2018-19
Irrespective of geopolitical uncertainties, output cuts and production outages crude oil prices are likely to remain in the range of US$60-65/barrel through 2018
