Oil and Natural Gas Corporation: ONGC wants to take Opal out of SEZ as domestic demand grows

54 PM ISTAgenciesThe move if achieved will also enable to company to gain from the new corporate tax regime, which will take care of the end of the very low tax benefits from the SEZ unit.MUMBAI: With the rising domestic demand for petrochemicals, ONGC Petro additions (OPaL), a JV between ONGC, Gujarat State Petroleum Corporation and Gail at the Dahej SEZ, is working towards getting the domestic tariff area (DTA) access to gain from the lower tax regime now.

India to invite foreign firms to invest in state-owned oil companies

International energy firms will be invited to participate in India's privatisation of state-owned oil companies.45 PM ISTReutersBy Stanley Carvalho
ABU DHABI: International energy firms will be invited to participate in India's privatisation of state-owned oil companies, the country's Oil Minister Dharmendra Pradhan said late on Monday.

indian oil corporation: IOC gets green nod for 2G ethanol plant in Panipat

Chem / FertilisersStock Analysis, IPO, Mutual Funds, Bonds & MoreThe IOCL had submitted a proposal seeking environment clearance for its proposed 100 KLPD Ligno-Cellulosic 2G ethanol plant at Baholi in Panipat district of Haryana.52 AM ISTGetty ImagesNEW DELHI: The Ministry of Environment has granted clearance to the Indian Oil Corporation (IOC) to set up a 766-crore 2G ethanol plant in Haryana's Panipat district.

Exchange Giant ICE, Big Oil Traders Team Up on New Mideast Crude Futures


or ICE, will team up with Abu Dhabi’s state oil producer and some of the world’s biggest oil companies to launch a new futures exchange in the emirate, which could shake up the way Mideast crude is traded., or Adnoc, said in a joint statement on Monday that they were aiming to launch the new exchange in the first half of 2020, along with its new Murban crude-oil futures contracts.

Bankrupt Sheridan Gets $328 Million Offer for Oil and Gas Assets

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Crude oil, natural gas output falls

NEW DELHI: Domestic production of crude oil and natural gas has fallen by 6% and 1.Crude oil production during April-September was 16.

Biden: U.S. Forces Securing Syrian Oil Fields Is ISIS Recruiting Tool

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11/2/2019 6:59PM     

Former Vice President Joe Biden tells WSJ's Gerald F.forces back into Syrian positions to secure the country’s oil fields is “like a giant 300-foot recruiting poster for ISIS.

Flood of Oil Is Coming, Complicating Efforts to Fight Global Warming

ETHOUSTON — A surge of oil production is coming, whether the world needs it or not.That boost in production, along with global efforts to lower emissions, will almost certainly push oil prices down.

Saudi Aramco oil refinery: Saudi Aramco to keep 4.6 mln barrels of oil in Indian storage

6 million barrels of oil via Indian Strategic Petroleum Reserves Ltd.35 PM ISTReutersNEW DELHI: India will lease a quarter of its strategic petroleum reserve in Padur to Saudi Aramco to store about 4.

Pro Bankruptcy Briefing: PG&E Shareholders Monitor Fire Findings | Sears Parent Hires Bankers for DieHard Sale | Oil Company Lender Airs Recordings

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Oil prices up after two-session skid on report OPEC will consider deeper output cuts


Markets/commodities reporter

Oil futures rose on Tuesday, after a two-day slide, buoyed by a report that major oil producers will consider deeper production cuts when they meet in December.The report also said OPEC member Saudi Arabia wants to first lift adherence to the agreement, as Iraq and Nigeria are among the countries that have not fully complied with the reductions, the report said.

Oil prices finish higher after cease-fire in Syria, tentative Brexit deal

and Turkey reached a cease-fire pact in Syria, temporarily easing Middle East tensions, and a tentative Brexit deal fueled appetite for assets perceived as risky.and European Union leaders announced a tentative Brexit deal was supportive for oil prices, though the pact must be approved by the British parliament and other EU member states.

Under Scrutiny for Wealth, Powerful Boss of Mexico’s Oil Workers Union Resigns

Americas|Under Scrutiny for Wealth, Powerful Boss of Mexico’s Oil Workers Union ResignsThe resignation of Carlos Romero Deschamps, who is under investigation for his unexplained wealth, is an important step for President Andrés Manuel López Obrador in his fight against corruption.ImageCarlos Romero Deschamps has outlasted five presidents and multiple scandals since he became general secretary of Mexico’s oil workers union in 1993.

Oil and Natural Gas Corp: ONGC Videsh makes two new oil discoveries in Colombia, Brazil

58 PM ISTAgenciesNew Delhi: ONGC Videsh, the overseas arm of the state-run Oil and Natural Gas Corp, has made a major gas discovery in Brazil and an oil discovery in Colombia, the company said in a statement on Wednesday.“Well Sol-1, in the block CPO-5 encountered the oil bearing sands of 8 meters at a depth of 2852m.

Oil up more than 1% as a survey reports the biggest monthly decline in OPEC output in 17 years

S.prices attempting to bounce back from the biggest weekly fall since mid-July, buoyed by a drop in monthly OPEC output, as investors gauged the demand outlook.

Oil Companies Ponder Climate Change, but Profits Still Rule

Browne, then chief executive of BP, the London-based oil company, was a lonely voice among his peers.Most large oil companies no longer deny the connection between burning fossil fuels and climate change.

Is the U.S. Oil Industry Dominant? On the Verge of Oblivion? Neither

That strength comes, in part, from a very large, newly developed resource known as tight oil.Outside of the United States, tight oil is almost never the cheapest option, because the drilling and fracturing of horizontal wells require expensive equipment.

Chinese oil company withdraws from $5-billion Iran deal

The South Pars field deal, struck in the wake of Iran’s 2015 nuclear deal with world powers, appears to be just the latest business casualty of America’s pressure campaign on TehranAP|Oct 06, 2019, 11.17 PM ISTBCCLIranian foreign minister Mohammad Javad Zarif separately complained on Sunday about the US campaign against Tehran and its impact on foreign investments.

Shell Discloses End of U.S. Bribery Probe Into Nigerian Oil Deal

Royal Dutch Shell Plc said the U.“We understand that this is based on the facts available to the DoJ, including ongoing legal proceedings in Europe.

U.S. oil ends down for 8th straight session as demand worries grow

benchmark suffering from an eighth straight daily decline and another finish at its lowest in two months, as worries over global demand persist.“I think it’s the same force as in the equities market,” said Steeves, pointing to the turn higher in the U.