BP Ventures makes first investment in India
BP Ventures has made its first direct investment in India, splashing out $13 million on integrated EV ride-hailing and charging company BluSmart.
India
Norwell Engineering wins £20million contract with ONGC on giant India deepwater project
Aberdeen-headquartered Norwell Engineering has landed a contract worth more than £20million with ONGC on one of the world’s largest deepwater projects.
LNG suppliers focus on spot deals in price jump, Gail India says
Liquefied natural gas (LNG) suppliers are limiting the volume they deliver under long-term contracts in favor of higher-priced spot sales, according to GAIL India Ltd., a major LNG buyer.
L&T wins Petronet LNG expansion deal in India
Indian engineering company Larsen & Toubro (L&T) has won a “significant” engineering, procurement, construction, and commissioning order for two LNG storage tanks at the Petronet LNG-led Dahej expansion project in Gujarat.
Gas price risk rising for emerging Asian markets, threatens expansion plans
Surging US Henry Hub gas prices, as well as higher and extremely volatile global gas prices, offers a lesson for emerging markets that investment in gas importing, distribution and power production assets will lead to stranded assets and lost wealth, according to analysis from IEEFA.
Cairn Energy updates timeline for North Sea sales, Jaws well pushed to Q4
Cairn Energy has updated its timeline for the £330m sale of its interests in the Catcher and Kraken assets in the North Sea.
India energy firms discuss buying Arctic LNG 2 stake
India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied natural gas project Arctic LNG 2, as their government seeks to secure supplies of the cleaner burning fuel.
ONGC pumps first gas from U1B deep-water well off India
Indian state-backed Oil & Natural Gas Corporation (ONGC) has pumped first gas from its deep-water U1B well off India’s eastern coast.
Indian Oil eyes LNG investments with Petronas
Indian Oil Corporation said Friday that it is expanding its joint venture with Malaysian state-backed energy company Petronas to include building liquefied natural gas (LNG) terminals, as well fuel retailing and gas distribution in India. Liquefied petroleum gas (LPG) is already imported by Indian Oil under an equal joint venture with Petronas called IndianOil Petronas.
Indian gas boom dampens demand for LNG, but not for long
While the current boom in domestic gas production will derail liquefied natural gas (LNG) demand growth in the short-term, the lack of significant pre-FID domestic supply and no discoveries of note in blocks awarded under the OALP rounds should ensure that beyond 2024 India’s LNG demand roars back, writes Gavin Thompson, Wood Mackenzie Asia Pacific vice chair.
Asia Pacific solar capacity set to triple by 2030
As national carbon-neutral targets come into focus, Asia Pacific solar photovoltaic (PV) capacity could triple by 2030 to 1500 gigawatts (GW), with Indonesia potentially the fastest expanding market by the end of the decade, according to new research from Wood Mackenzie.
Thailand’s PTT makes $453 million Indian solar bet
Global Power Synergy, the listed power unit of Thailand’s national energy company PTT Group, has acquired a 41.6% stake in Indian renewable energy provider Avaada Energy for about 14.8 billion baht ($453 million).
India’s ONGC eyes $4bn spending plan
India’s state-backed Oil & Natural Gas Corporation (ONGC) said that it plans to spend 300 billion Indian rupees ($4.03 billion) during its current financial year to boost oil and gas output. ONGC’s profits have also bounced back.
Aker Solutions bags FEED contract for LNG terminal in India
Energy services firm Aker Solutions has bagged a contract to carry out design work for a planned LNG terminal in India.
Lifting of Iran sanctions to spark fight for oil market share in Asia
The expected return of Iranian oil to the market as US sanctions are likely to be lifted over the next year will offer new opportunities for former buyers in Asia to reshuffle their oil import mixes. Significantly, the return of Iranian barrels will trigger a fierce battle among global suppliers for market share raising the risk of price drops, reported Fitch Solutions.
India sees return to normal oil demand by year-end
India expects fuel demand to get back to pre-virus levels by the end of 2021 as the world’s third-biggest oil consumer emerges from the clutches of the Covid-19 pandemic.
Fossil fuels giant Reliance will invest $10bn in Indian renewable energy
India’s richest man, Mukesh Ambani, who has run one of the world’s largest petroleum businesses for over two decades, yesterday announced that his company Reliance Industries, will invest 750 billion rupees ($10 billion) towards clean energy solutions over the next three years.
South Asia steps up efforts to follow global energy transition
South Asia, which includes India, Pakistan, Sri Lanka, and Bangladesh, is slowly following the rest of the world in the transition towards cleaner energy systems. The subtle shift opens potentially large market opportunities for energy service suppliers.
Power arm of Thailand’s PTT makes $635m pivot to Asia renewable energy
Thailand's state-owned oil and gas group, PTT, will invest 20 billion baht ($635 million) in renewable energy in India, China and elsewhere in Asia, as it takes steps to shift from fossil fuels to cleaner energy sources.
India’s H-Energy to supply re-gasified LNG to Bangladesh
India’s H-Energy is set to finalise a long-term deal to supply re-gasified liquefied natural gas (LNG) to Bangladesh through a cross border natural gas pipeline.
India’s wind market could expand by 50% over next five years
The world’s fourth-largest wind power market is expected to add nearly 20.2 GW of new capacity between 2021 and 2025, according to the latest report from the Global Wind Energy Council (GWEC) and MEC Intelligence (MEC+).
Asia’s return to pre-virus oil demand meets several speed bumps
Asia’s uneven oil demand recovery has been headlined by China and India, but the Covid-19 comeback that’s swept through other key fuel-consuming nations is complicating a return to pre-pandemic levels.
India’s oil industry braces as new cyclone nears
India’s oil industry is bracing itself as a powerful cyclone is set to slam into India early Wednesday morning, the second in less than two weeks.
India’s ONGC seeks to buy new build jack-up rigs
India’s Oil & Natural Gas Corporation (ONGC) is seeking to buy newly built jack-up drilling rigs as the national oil company (NOC) looks to secure long-term offshore drilling capacity.
Total signs LNG supply deal as India seeks to decarbonise steel industry
Total and ArcelorMittal Nippon Steel (AMNS) have signed a deal for the supply of up to 500,000 tons of liquefied natural gas (LNG) per year until 2026.