India’s First Decommissioning Of Offshore Oil Field Completed Successfully
The JV of ONCG, RIL and BGEPIL_Shell successfully completed the first decommissioning of an offshore oil rig in India.
Oil
ONGC onboards BP Exploration as Technical Services Provider for Mumbai High Field
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.
Oil majors suffer massive losses in 2020
The world’s top listed oil firms suffered historic losses in 2020 as the Covid-19 pandemic sent demand and prices tumbling.
India partners with foreign firms to build strategic petroleum reserves
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.
Rising oil import bill swells current account deficit
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
Oil prices will remain range-bound around US$60-65 through 2018
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