Cairn Oil & Gas, a subsidiary of Vedanta Resources owned by billionaire Anil Agarwal, has announced that its reserves and resources portfolio in India has surpassed 1 billion barrels of oil equivalent (boe), media reports suggested. This milestone comes as the largest private oil and gas company in India has identified 20 new development projects […]
Author Archives: Deepak Sharma
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Natural gas prices could dip below zero in Europe: Report
Natural gas prices in Europe are likely to plummet further on lackluster demand from power generation and industry. This downward trend has led traders and industry officials to consider the possibility of day-ahead prices dipping below zero in some European markets during the summer, according to a report by Oilprice. According to the report, several […]
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Lower crude prices drags down Saudi Arabia’s total exports by 25% in March
The world’s largest energy exporter, Saudi Arabia, has experienced a significant decline in its total exports, encompassing both oil and non-oil exports, according to media reports. Saudi Arabia has witnessed a 25% year-on-year decrease, with total exports amounting to $28 billion compared to $37 billion in the same period last year, online portal Zawya said […]
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ADNOC L&S draws record-breaking IPO subscription of $125 billion
ADNOC Logistics and Shipping Services’ initial public offering (IPO) of received unprecedented attraction from investors across the world, making it the most sought-after issue of the year. Total demand for the IPO has surpassed $125 billion or AED 460 billion, resulting in an oversubscription level of 163 times, which is the highest ever recorded for […]
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Oman enters the world’s largest LNG exporter club
The Sultanate of Oman, the largest energy exporter outside OPEC, has become one of the leading global exporters of liquefied natural gas (LNG) due to a rising demand for clean energy sources, according to a report by Oman Observers, a local daily. In April 2023, Oman’s LNG exports reached a record high of 1.16 million […]
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Northern Offshore wins drilling extension from Qatargas
Northern Offshore, a drilling contractor based in Houston, has secured extensions for three of its high-spec jack-up rigs, allowing them to continue operating for Qatargas for an additional period of up to three years, according to a media report. The rigs, namely Energy Enticer, Energy Edge, and Energy Embracer, will continue their work at Qatargas’ […]
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India’s oil import from the Middle East at 22 year low
India’s oil imports from the Middle East fell to a 22 years low as the world’s third largest importer of crude ramp up purchases from Russia, according to a news report by Reuters. Following the escalation of Russia-Ukraine conflict, India has been continuously increasing import of crude from the Europe’s largest energy producer. Russia rose […]
Posted inExploration & Production
Iraq invites bids for 13 oil and gas projects
OPEC member Iraq has invited bids from multinational oil exploration firms to develop oil and gas sites as a part of its new licensing round, online news portal Zawya wrote in a report. The reported cited a statement from the Iraq’s Oil Minister Hayan Abdel Ghani, which was carried by the local press, on Tuesday. […]
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Nigeria needs $12 billion to clean up Shell, Eni oil spills
Africa’s largest economy Nigeria will require $12 billion to address the long-standing oil spills in southern Bayelsa state over a 12-year period, global newswire Reuters said, quoting a new report which specifically holds Shell and Eni accountable for the majority of the pollution. Bayelsa, a major oil-producing state in the Niger Delta, has been plagued […]
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Singapore receives QatarEnergy’s landmark cargo
Singapore’s Pavilion Energy has received its inaugural liquefied natural gas (LNG) shipment from Qatar accompanied by a Statement of Greenhouse Gas Emissions (SGE) at the Singapore LNG terminal. The cargo was supplied by QatarEnergy, and SGE serves as an authenticated record of the greenhouse gas emissions generated throughout the entire process of extracting and transporting […]
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