India ///

ONGC reports explosion on Sagar Bhushan drillship

A blast was reported on ONGC drillship Sagar Bhushan at 9.15 a.m. yesterday, at Cochin Shipyard where it has been dry docking since Dec. 7, 2017.

Indian companies pay $600 million for stake in Abu Dhabi oil concession

Indian companies agreed to pay $600 million for a stake in one of Abu Dhabi’s biggest offshore oil concessions, securing a share in the emirate’s crude production for the first time.

ONGC said to plan $4.8-billion Indian Oil, GAIL stake sale

Oil & Natural Gas Corp. plans to sell its holding in two state-run energy companies within a year to repay debt it raised to fund the purchase of the Indian government’s stake in Hindustan Petroleum Corp., according to people with knowledge of the matter.

India's ONGC said to expect delays in its biggest project

Oil and Natural Gas Corp. is facing a delay of at least a year in starting production from its biggest project, according to people with knowledge of the matter.

Top Indian oil explorer may raise $5.48 billion to buy HPCL

India’s biggest oil and gas explorer has widened its first debt-raising plan to as much as $5.48 billion to buy state-run refiner Hindustan Petroleum Corp.

India pitches bigger oil resource pie in bid to lure investments

India has increased the size of its oil and natural gas resources by 50% because of better data, according to the country’s oil regulator.

ONGC confirms six dead, one missing after chopper crash

Following an extensive search operation, jointly conducted by ONGC, Coast Guard and Indian Navy, six bodies including one of the two Pilots of ill-fated Pawan Hans Chopper have so far been recovered. The search is on for one more person who is still missing.

Kreuz Subsea wins major contract in India

Kreuz Subsea, a leading global integrated subsea services business, has announced it has been awarded its most financially significant contract in the company’s history.

Essar Oilfields commences drilling contract with Mercator Petroleum

Essar Oilfields Services (India) Limited (EOSIL) has announced that it has commenced a contract awarded by Mercator Petroleum to drill two firm oil wells, plus one optional oil well in the Cambay basin.

Top Indian oil explorer to buy—not drill—its way to output goal

India’s biggest oil explorer plans to snatch up producing assets to reach its goal of raising overseas output by more than half in about three years, a faster route than drilling for new reserves.

Eni's former Indian oil explorer targets 12-fold sales jump

Hindustan Oil Exploration Co. is rising from the ashes about a year after Italy’s Eni SpA sold its controlling stake.

GAIL said to receive Gazprom letter on LNG contract start

GAIL India Ltd. received notification from Russia’s Gazprom PJSC that it plans to start deliveries of liquefied natural gas through a contract the Indian buyer is trying to renegotiate, according to people with knowledge of the matter.

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.