India ///

Rising oil portends long pause as India prepares for rate review

After long undershooting its predictions, data on Monday showed consumer prices rose the most in seven months. The pace may only accelerate due to rebounding global oil prices.

Regional Report: India

Emily Querubin, World Oil

India’s growing population, urbanization countering efforts to reduce dependency on imports

Oil turns from Modi's blessing to burden, threatening economy

Narendra Modi’s first term as leader of the world’s fastest-growing oil market coincided with the biggest price crash in a generation. Crude’s rebound into a bull market is set to test the Indian Prime Minister as he gears up for re-election in 2019.

Indian oil demand to bounce back in 2018, says ESAI Energy

India’s consumption of oil products will accelerate in 2018 after unusually slow growth in 2017, according to ESAI Energy’s newly published Asia Watch Products.

India can't drill solo to meet oil supply goals, Wood Mac says

India needs overseas help to raise production from its aging oil fields and meet its goal of lowering crude imports by 2022, according to consultant Wood Mackenzie Ltd.

Saudi Aramco plans "mega investment" in world's top oil guzzler

Saudi Arabia’s state-owned oil giant has “mega investment” plans for the world’s fastest growing oil market, according to Saudi Arabian Oil Co.’s CEO.

Reliance Industries awards Schlumberger deepwater contract in India

OneSubsea, a Schlumberger company, was award a contract by Reliance Industries for supply of the subsea production system for the R Cluster project, offshore India.

India plans larger oil auctions as Modi pursues import cuts

India will offer larger areas with higher oil and natural gas reserves in the next auction of discovered fields later this year as Prime Minister Narendra Modi’s government seeks to curtail rising crude oil imports.

Flood-hit India's oil demand falls the most in 14 years

India’s oil consumption in August shrank 6.1%, the most since April 2003, as floods ravaged several parts of the country curbing demand for diesel and gasoline.

India swaps cheaper LNG for more volume in second reworked deal with Exxon

Petronet LNG Ltd. has reached an agreement to rework a liquefied natural gas supply agreement with ExxonMobil Corp., the second such renegotiation by the Indian company for gas supplies after reaching a similar deal with Qatar.

BP, Reliance close in on India gas field near missile site

Billionaire Mukesh Ambani’s Reliance Industries Ltd. and its partner BP Plc are reviving investment plans for a gas block close to a military missile launching facility in the Bay of Bengal.

Core analysis and review confirms Cambay potential in India

Oilex Ltd. is pleased to announce that the C-23z core analysis has been completed. The analysis, by Schlumberger and Baker Hughes has confirmed that the EP-IV tight siltstones at Cambay can be effectively stimulated, and that commercial gas flowrates are potentially achievable.

India approves creation of state oil giant in $4.6-billion deal

India approved the sale of a $4.6 billion stake in state-run refiner Hindustan Petroleum Corp. to the country’s biggest oil and gas explorer, according to a person with knowledge of the decision.

Xodus wins subsurface contract with Cairn Oil and Gas in India

Xodus Group has won a contract with Cairn Oil and Gas of Vedanta Ltd. to conduct exploration and appraisal work on its Rajasthan block in northwest India over the next two years.

India wants $300 billion in oil spending to meet growing demand

India wants $300 billion in investments over the next 10 years to satisfy accelerating demand in the world’s fastest-growing oil market.

India gives Iran $11-billion "best offer" on Farzad-B field

An Indian consortium is willing to spend as much as $11 billion to develop a giant Iranian natural gas field and build the infrastructure to export the fuel as long as the Persian Gulf nation guarantees a “reasonable return” on the project, according to the company leading the group.

LNG price row between India, U.S. crimps Trump's export plans

India's biggest importer of U.S. liquefied natural gas (LNG) is trying to re-negotiate prices with the U.S. seller, sources said, undermining plans by U.S. President Donald Trump to export more gas to the fast-growing Asian nation.

Vedanta makes $3-billion bet to re-energize biggest oilfield

India’s Vedanta Ltd. will spend $3 billion over the next three years as it seeks to expand oil reserves and nearly double output from its largest field.

ONGC, Aqualis Offshore match rig move record offshore India

The Oil and Natural Gas Corporation Limited (ONGC), with the support of Aqualis Offshore, has matched its own pre-monsoon rig move record set last year offshore India. Aqualis Offshore has also secured a new contract extension to support ONGC.

Rosneft says Essar takeover is pending final details

Rosneft PJSC, Russia’s biggest oil producer, said it has all but completed its multi-billion-dollar joint purchase of India’s Essar Oil Ltd., expanding its access to the Asian nation’s burgeoning fuel market.