(ONGC, 24.Jan.2022) — ONGC Videsh Limited (OVL) had registered a major gas discovery in 2019 in its deep offshore block BM-SEAL-4, Brazil, located in the Sergipe Alagoas Basin. Petrobras is the Operator of the block with 75% Participating Interest (PI) and in which partner ONGC Videsh holds 25% PI. ONGC […]
Category: India
India energy news
Reliance’s US Shale Exit Signals Refocus Intent
(S&P Global, 11.Nov.2021) — The move by Reliance Industries to divest all its US shale assets and exit the sector signals its intention to ensure the company maintains its sharp focus on India’s domestic market, where its energy portfolio is being increasingly diversified beyond its core refining business. Analysts said […]
Guyana Opts Against LT Supply Deal With India
(Reuters, 10.Aug.2021) — Guyana’s Natural Resources Ministry said on Monday the country earned nearly $80 million from a July crude cargo sold to an Indian refiner, the highest figure since exports began in early 2020, though an official ruled out a long-term supply deal. Guyana sold the cargo of 1,047,820 […]
Indian Oil Corp. Buys Its First Guyanese Oil
(Reuters, 29.Jun.2021) — Indian Oil Corp (IOC.NS), the country’s top refiner, has made its first purchase of Guyana’s Liza light sweet crude as it seeks to diversify its crude purchases, a source familiar with matter said. The 1 million-barrel cargo will set sail around July 4 on Greece-flagged tanker Militos […]
India In Talks With Guyana For Long-Term Crude Supply
(Reuters, 25.Apr.2021) — India, the world’s third-largest crude consumer and importer, has approached Guyana’s government about a possible long-term deal to buy the South American country’s oil, a Guyanese official said. India has expressed interest in buying one of the 1 million-barrel cargoes Guyana’s government is entitled to in order […]
HPCL-Mittal Awaits Guyanese Crude Liza
(Reuters, 23.Mar.2021) — The first cargo from new oil producer Guyana to the world’s third-largest crude importer, India, departed this month from a production facility off the South American nation’s coast in a vessel chartered by trading firm Trafigura, data from Refinitiv Eikon showed on Tuesday. The cargo was bought […]
India Eyes Renewable Energy Sources
(Energy Analytics Institute, 19.Mar.2021) — India’s government has big ambitions for renewable energies, as 55% of its electricity is generated by burning fossil fuels. The Asian country aims to generate 450 gigawatts (GW) from renewable energy sources by 2030. The country’s solar sector is booming and expected to account for […]