Low demand, US supply squeeze OPEC
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
India
Cairn expects Indian arbitration outcome next year, drills duster in Mexico
Scottish oil firm Cairn Energy said today that the long-awaited outcome of its arbitration claim against India could be delivered next year.
Shell takes 20% stake in Indian solar firm Orb Energy
Shell has taken a 20% stake in Indian solar firm Orb Energy as part of a drive to deliver a reliable source of electricity to 100 million people in the developing world by 2030.
Tellurian signs $7.5bn US LNG pact with Petronet
Tellurian Inc. said it signed a $7.5 billion agreement for India’s Petronet LNG Ltd. to buy into its proposed liquefied natural gas terminal in Louisiana, in what could potentially be one of the largest foreign investments in the U.S. to ship shale gas abroad.
Saudi Aramco regaining grip on world’s fastest-growing oil market
Saudi Aramco’s proposed purchase of part of India’s Reliance Industries Ltd. will allow it to regain its grip on the world’s fastest-growing oil market where suppliers including the U.S. and Russia are making inroads.
TechnipFMC announces major contract awards for Indian deepwater project
TechnipFMC has announced the award of a number of “significant” contracts for a deepwater project off the coast of India.
Expro wins multimillion dollar vessel contract with Indian operator
UK oilfield services firm Expro has won a multimillion dollar contract for work on an offshore production vessel for an Indian operator.
Updated: US won’t renew sanctions waivers for Iran oil customers, Brent climbs
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Cairn posts losses of almost £1bn amid India, Kraken troubles
Scottish oil firm Cairn Energy vowed to go after "material" exploration targets this year despite suffering losses of almost £1 billion in 2018.
Updated: Cairn shares drop as Indian arbitration outcome delayed
Shares in Cairn Energy slid today after the Scottish oil firm said the outcome of its arbitration claim against India would not to be delivered “before late 2019”.
India ‘plans’ to pay five Iranian banks for oil imports
India will deposit payments for crude oil imported from Iran into escrow accounts of five of their banks held with state-run UCO Bank Ltd. after the two nations agreed on a payment mechanism to overcome U.S. sanctions, according to people with knowledge of the matter.
Total signs major gas and retail deal in India
Energy giant total has signed an agreement with Adani Group to develop various regasification projects in India, along with a network of 1,500 retail service stations.
Record India diesel prices a pain for Modi as rupee tumbles
India’s growth monikers -- the world’s fastest-growing major economy and the fastest-growing oil user -- might make for good headlines, but when juxtaposed with the less-flattering description of its currency they pose a problem for Prime Minister Narendra Modi.
Top-performing reliance is shaking off past decade’s slumber
Reliance Industries Ltd.’s recent gains are helping one of India’s most-valuable companies catch up with the benchmark index, which it had trailed for much of the past decade.
ONGC $1.6bn stake sale faces subsidy hurdle
India’s efforts to sell a $1.6 billion stake in Oil & Natural Gas Corp. has run into concerns that government policies on fuel pricing would weigh on the state-run explorer’s share price, according to people with knowledge of the situation.
India oil demand could lead to long-term trade with Europe , says WoodMac
A surge in oil demand in India could lead to long-term trade with Europe, according to analysts WoodMackenzie.
Reliance gives India second $100bn firm in three months
Reliance Industries is back in the $100 billion club, a journey that has taken more than a decade.
Final Cairn, India arbitration hearing set for next month
Scottish oil firm Cairn Energy said today that the final hearings will start next month in its arbitration with India under a bilateral investment treaty.
Quest to find trillion-dollar nuclear fuel on the moon
India’s space program wants to go where no nation has gone before -– to the south side of the moon. And once it gets there, it will study the potential for mining a source of waste-free nuclear energy that could be worth trillions of dollars.
China, India want to buy more US oil to counter Opec
Two of Asia’s largest crude buyers are considering teaming up to buy U.S. supplies and counter OPEC’s dominance in the world’s biggest oil market.
India delays plan to roll out 10,000 electric cars to 2019
India has pushed back a deadline to put thousands of battery-driven cars on the road by nearly a year, in a setback to its ambitions of having electric vehicles comprise about a third of its fleet by 2030.
Key US ally to ignore Trump’s Iran sanctions
President Donald Trump may have ordered the re-imposition of sanctions on Iran, but one of Asia’s biggest oil importers -- and a key strategic ally of the U.S. -- plans on ignoring them.
India’s ONGC suing Sudan for $100m, report says
India's Oil and Natural Gas Corp's (ONGC) is suing Sudan in a London court, a news report said.
Report: India to give Saudi Aramco 50% stake in mega refinery
India is set to grant Saudi Aramco a 50% stake in a 1.2million barrel-per-day refinery on its west coast, according to a news report.
Cosasco secures $380k contract for corrosion monitoring systems
Cosasco will supply Oil and Natural Gas Corporation (ONGC) with corrosion monitoring systems after clinching a $380,000 contract with the Indian firm.