exploration and production

Brazil to auction new oil blocks in 2013


September 20th, 2012 - 12:11 pm ICT by IANS
Brasilia, Sep 20 (IANS/EFE) Brazil is planning an auction of new oil and gas exploration and production blocks for May 2013, although that long-delayed round will depend on prior approval ... Read more...

Posted in Business |

26 die in Mexican gas plant blast, fire (Lead)


September 19th, 2012 - 1:42 pm ICT by IANS
Mexico City, Sep 19 (IANS/EFE) Twenty-six workers were killed Tuesday in an explosion and subsequent fire at a gas plant in the northeastern Mexican state of Tamaulipas, state-owned Petroleos Mexicanos ... Read more...

Posted in World |

Government inks production sharing contract for 5th oil block


September 10th, 2012 - 6:59 pm ICT by IANS
New Delhi, Sep 10 (IANS) The government Monday signed a production sharing contract (PSC) for the fifth oil block it had awarded on Aug 28, 2012."PSC for the block (MB-DWN-2010/1) ... Read more...

Posted in Business |

Assam refinery to explore potential markets in neighbouring countries


September 8th, 2012 - 12:11 am ICT by IANS
Guwahati, Sept 7 (IANS) Given its proximity to countries like Bangladesh, Bhutan and Myanmar, Assam's Numaligarh Refinery Limited (NRL) is now planning to explore potential markets for its products in ... Read more...

Posted in Business |

11,000 km of LNG pipelines laid so far


August 21st, 2012 - 9:28 pm ICT by IANS
New Delhi, August 21 (IANS) More than 11,000 km of cross-country gas pipelines have been laid for connecting the consumption centres, Minister of State for Petroleum R.P.N. Singh said Tuesday."Another ... Read more...

Posted in Business |

India seeks security of oil investments in Sudans


May 22nd, 2012 - 7:59 pm ICT by IANS
New Delhi, May 22 (IANS) With the conflict between Sudan and South Sudan escalating, India has conveyed to the leaderships of both countries the urgent need to resolve all issues ... Read more...

Posted in Business |

Russian firm to operate two oil fields in Venezuela


April 13th, 2012 - 11:34 am ICT by IANS
Caracas, April 13 (IANS/EFE) Russia's Gazprombak Latin America Ventures will operate two oil fields in northwestern Venezuela in a joint venture with Corporacion Venezolana del Petroleo, or CVP, the government ... Read more...

Posted in Business |

Mexican firm eyeing Cuba offshore oil projects


April 13th, 2012 - 11:04 am ICT by IANS
Havana, April 13 (IANS/EFE) Mexican President Felipe Calderon said his country's state-owned oil company, Petroleos Mexicanos, is considering participating and investing in crude and natural gas exploration and production projects ... Read more...

Posted in Business |

India calls for dialogue between Sudan, South Sudan


April 12th, 2012 - 11:52 pm ICT by IANS
New Delhi, April 12 (IANS) As the conflict intensified amid reports of Sudanese warplanes launching their first attack on a key South Sudanese town, India, which has around $2.5 billion ... Read more...

Posted in Uncategorized |

‘Indian oil investments in both Sudans safe’


April 4th, 2012 - 8:14 pm ICT by IANS
New Delhi, April 4 (IANS) Both Sudan and South Sudan have assured India that its $2.5 billion investment in the oil industry spanning the trans-national border are safe and will ... Read more...

Posted in Business |

Shale gas exploration policy by March 2013: Reddy


March 13th, 2012 - 9:01 pm ICT by IANS
"Shale gas policy is proposed to be announced tentatively by March 31, 2013," Reddy said in a written reply in the Rajya Sabha, adding the government has already started formulating the ... Read more...

Posted in Business |

Chinese-Spanish venture makes oil find in Brazil


February 28th, 2012 - 11:25 am ICT by IANS
Madrid, Feb 28 (IANS/EFE) Chinese-Spanish oil venture Repsol Sinopec Brasil has made a new oil find in Brazil's deepwater Campos Basin, with the discovery offering one of the heaviest accumulations ... Read more...

Posted in Business |

Thai company to explore oil in Myanmar


February 13th, 2012 - 7:38 am ICT by IANS
Yangon, Feb 13 (IANS) Thailand's state-owned PTT company will explore oil and gas in Myanmar's two onshore blocks, a media report said.PTT Exploration and Production Plc, Thailand's largest energy company, ... Read more...

Posted in Business |

Argentine oil firm made $3 bn investments in 2011


February 9th, 2012 - 11:40 am ICT by IANS
Buenos Aires, Feb 9 (IANS/EFE) Argentine oil company YPF, a unit of Spain's Repsol-YPF, announced Wednesday that its investments in the South American country rose last year by 50 percent ... Read more...

Posted in Business |

Spanish firm buys Russian oil company for $230 mn


December 30th, 2011 - 12:46 pm ICT by IANS
Madrid, Dec 30 (IANS/EFE) Spanish energy firm Repsol YPF SA said Thursday that it spent $230 million to acquire Russian oil company Eurotek, which holds exploration and production permits in ... Read more...

Posted in Business |

Firms keen on JVs for oil, gas exploration in Africa: Reddy


December 9th, 2011 - 3:32 pm ICT by IANS
New Delhi, Dec 9 (IANS) Indian companies are keen to enter partnerships and form joint ventures for enhancing oil and gas exploration activities in African countries, Minister of Petroleum and ... Read more...

Posted in Business |

BP to sell two Gulf of Mexico assets


November 19th, 2011 - 3:57 pm ICT by IANS
Washington, Nov 19 (IANS) British oil giant BP has agreed to sell its Pompano and Mica oil fields in the Gulf of Mexico to Stone Energy Offshore, a subsidiary of ... Read more...

Posted in Business |

ONGC Videsh inks deal with PetroVietnam


October 12th, 2011 - 4:24 pm ICT by IANS
New Delhi, Oct 12 (IANS) ONGC Videsh Limited, the overseas arm of the government-run Oil and Natural Gas Corporation, Wednesday signed an agreement with Vietnam Oil and Gas Group ... Read more...

Posted in Business |

Chinese firm to buy Canadian energy company


October 10th, 2011 - 5:02 pm ICT by IANS
Beijing, Oct 10 (IANS) China's energy giant Sinopec has signed a deal with Canadian oil and gas explorer Daylight Energy Ltd. to take over the company for 2.2 billion Canadian ... Read more...

Posted in Business |

India’s interests growing in African oil, gas assets


September 4th, 2011 - 1:33 pm ICT by IANS
New Delhi, Sep 4 (IANS) Even though Sudan is the only African country where state-owned Indian companies have started extracting hydrocarbons, other countries in the continent are also showing promise, ... Read more...

Posted in Business |

Brazilian firm approves $225 bn investment plan through 2015


July 24th, 2011 - 12:26 pm ICT by IANS
Rio de Janeiro, July 24 (IANS/EFE) Brazilian state-controlled energy giant Petrobras has approved $224.7 billion in investment outlays for the 2011-15 period.The majority - $127.5 billion - will be allocated ... Read more...

Posted in Business |

Pakistan working on new petroleum policy


July 10th, 2011 - 3:30 pm ICT by IANS
Islamabad, July 10 (IANS) Pakistan is working on a new policy for the petroleum sector after it failed to attract investments for the exploration of oil and gas.Petroleum Minister Asim ... Read more...

Posted in South Asia |

India to join US meet on reducing offshore drilling risks


April 5th, 2011 - 11:13 am ICT by IANS
Washington, April 5 (IANS) The US is convening a ministerial level meeting of 13 nations including India engaged in offshore drilling to discuss ways to reduce risks associated with offshore ... Read more...

Posted in Sci-Tech |

India to formulate policy to tap shale gas


March 11th, 2011 - 7:45 pm ICT by IANS
New Delhi, March 11 (IANS) India will identify areas that have the potential for shale gas, or hydrocrbons trapped in sedimentary rocks, and also formulate a policy soon to tap ... Read more...

Posted in Business |

Colombia has record oil output in February


March 10th, 2011 - 11:17 am ICT by IANS
Bogota, March 10 (IANS/EFE) Colombia's oil output reached a record high of 861,000 barrels per day (bpd) in February, up 13.4 percent from the same month of 2010, authorities said.Average ... Read more...

Posted in Business |

Mexican billionaire Slim invests in Colombian oil industry


February 24th, 2011 - 12:12 pm ICT by IANS
Mexico City, Feb 24 (IANs/EFE) Mexican billionaire Carlos Slim's Grupo Carso is acquiring a 70 percent stake in Tabasco Oil Company, which is involved in oil exploration and production in Colombia, the ... Read more...

Posted in Business |

India considering Cairn India-Vedanta merger proposal in a positive frame of mind


February 6th, 2011 - 10:18 pm ICT by ANI
New Delhi, Feb 6(ANI): Union Petroleum and Natural Gas Ministry on Sunday said that it is considering the proposal of merger of Cairn India and London-listed Vedanta in a positive frame of ... Read more...

Posted in National |

Ecopetrol makes new oil find in Colombia


December 15th, 2010 - 12:49 pm ICT by IANS
Bogota, Dec 15 (IANS/EFE) State-owned Empresa Colombiana de Petroleos, or Ecopetrol, said it found oil at a new well in central Colombia, raising the number of new petroleum discoveries this year to ... Read more...

Posted in Business |

India, Angola sign deal for hydrocarbon sector


November 2nd, 2010 - 8:40 pm ICT by IANS
New Delhi, Nov 2 (IANS) India and the African state of Angola Tuesday signed an agreement in the hydrocarbon sector, which will increase the supply of crude and allow increased investment by ... Read more...

Posted in Business |

RIL to buy 60 percent stake in US shale firm for $392 mn


August 5th, 2010 - 2:36 pm ICT by IANS
Mumbai, Aug 5 (IANS) India's largest private sector company Reliance Industries (RIL) Thursday said it will invest $392 million to acquire a 60 percent stake in the US-based Pioneer Natural Resources' shale ... Read more...

Posted in Business |

BP sells operation in Colombia


August 4th, 2010 - 11:17 am ICT by IANS
Bogota, Aug 4 (IANS/EFE) Colombian state oil company Ecopetrol S.A. and Canadian firm Talisman have reached an agreement to buy the Colombia operation of BP Plc for $1.75 billion. The deal for BP ... Read more...

Posted in Business |

BP expresses confidence that Gulf well has been sealed


July 18th, 2010 - 3:29 am ICT by BNO News
NEW ORLEANS (BNO NEWS) -- British Petroleum (BP) on Saturday expressed confidence that the Gulf of Mexico oil well has been effective sealed, but pressure tests could be extended to guarantee there ... Read more...

Posted in Business |

ONGC signs new oil and gas block contracts


June 30th, 2010 - 3:23 pm ICT by IANS
New Delhi, June 30 (IANS) State-run Oil and Natural Gas Corporation (ONGC) along with its partners Wednesday signed production sharing contracts (PSCs) for 31 oil and gas blocks awarded to 23 companies ... Read more...

Posted in Business |

US mounts pressure on BP; Obama heads to Gulf Coast


June 14th, 2010 - 8:46 am ICT by IANS
Washington, June 14 (DPA) The US increased pressure on energy giant BP Plc to boost capacity to contain the gushing oil well in the Gulf of Mexico, as President Barack Obama ... Read more...

Posted in Environment |

Oil prices may rise to $100 a barrel: Mukesh Ambani


May 14th, 2010 - 3:27 pm ICT by IANS
Mumbai, May 14 (IANS) Crude oil prices may soon rise to $100 a barrel due to increasing costs of exploration and production, and businesses should be prepared for higher energy prices than ... Read more...

Posted in Business |

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