South Asia ///

ONGC $1.6-billion stake sale is said to face subsidy hurdle

India’s efforts to sell a $1.6-billion stake in Oil & Natural Gas Corp. (ONGC) 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.

Wavefront commences powerwave operations in India

Wavefront Technology Solutions Inc., the advanced IOR and EOR company, has commenced the previously announced powerwave well stimulation campaign in India.

Wood wins deepwater contract with Shell in the Philippines

Wood has secured a new, six-year contract with Shell to provide asset management services to the Malampaya deepwater gas-to-power project in the Philippines.

Vantage awarded annulus wash, cementing assurance in Malaysia

Vantage Oilfield Solutions Sdn Bhd (Vantage) has received a work order award from Petronas Carigali Sdn Bhd (Petronas Carigali) for the Provision of annulus wash and cementing assurance for Kepong-A field, Terengganu, Malaysia.

Cairn, Vedanta award EOR contract to BHGE for India's Rajasthan area

Baker Hughes, a GE company, has been awarded a development contract by Cairn Oil & Gas, Vedanta Limited to construct approx. 300 new wells and deploy a chemical EOR program aimed at increasing production from the Rajasthan area.

New products and services

Michele Cowart, World Oil

Plenty-brand screw and vane pumps from SPX Flow are engineered to pump heavy viscous fluids, and are ideal for forced lubrication of rotating machinery and fuel transfer processes.

U.S. oil sellers may look to India as tariff war with China escalates

American oil producers may find a new friend in India as they brace for a trade war with China that could curb U.S. shipments.

Law firm WFW advises OMV on €158 million disposal of Pakistani subsidiaries

Watson Farley & Williams (“WFW”) has advised OMV on the completion of its sale of two wholly-owned subsidiaries comprising its upstream exploration and production business in Pakistan (“OMV Pakistan”) to Dragon Prime Hong Kong Ltd., Hong Kong, for an agreed consideration of €158 million.

India has "Plan D" for Iran oil as Trump adds sanction pressure

One of Iran’s biggest oil buyers said it has enough alternative sources of crude to replace any supplies cut off by U.S. sanctions on the Persian Gulf state -- even if shipments stop completely.

India hunting for shorter LNG deals with import demand doubling

The good news for global natural gas exporters is that India’s largest utility is hunting for new supplies to import. The bad: It’s seeking shorter deals than have been traditional in the past.

State Department asks Asia to open energy trade in midst of tariff fight

A U.S. State Department official called on Asia’s energy sector to open its doors to outside competition, even as tensions between Washington and Beijing escalate.

Shell completes sale of stake in Thailand’s Bongkot field

Shell has announced that its affiliates, Shell Integrated Gas Thailand Pte Ltd. and Thai Energy Company Ltd., have completed the sale of their 22.2222% interest in Bongkot field and adjoining acreage offshore Thailand.

China and India want to buy more U.S. 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.

ONGC moves 29 offshore rigs ahead of Indian monsoon season

The Oil and Natural Gas Corporation Limited (ONGC) has successfully moved 29 mobile offshore drilling rigs prior to the Indian monsoon season.

The natural gas market in 2017

Armelle Lecarpentier, CEDIGAZ

In 2017, global natural gas demand’s above-average growth reshaped market fundamentals and  prevented the development of a global natural gas bubble. Meanwhile, global natural gas consumption doubled its 2016 growth rate, and it was well ahead of the previous five-year trend.

Once cash rich, India's demands erode 90% of ONGC's warchest

India’s Oil and Natural Gas Corp., which once had $4.3 billion of funds, is now bleeding cash.

Indian Essar Oil Limited rebrands as Nayara Energy Limited

Indian Essar Oil Limited has been rebranded as Nayara Energy Limited. The decision was finalized at an extraordinary general meeting of its shareholders.

India vows to ignore Trump's sanctions and continue Iran imports

President Donald Trump may have ordered the re-imposition of sanctions on Iran, but one of Asia’s biggest oil importers -- and a strategic partner of the U.S. -- plans on ignoring them.

Oilex issues default notice regarding India's Cambay

Oilex Ltd. has advised that it has issued an Event of Default Notice (EoD Notice) to GSPC regarding the Cambay PSC (Cambay) in the amount of equivalent $3,054,832.

UN panel asks biggest oil traders for North Korea information

A United Nations Security Council panel is asking the world’s biggest oil traders to disclose the actions they are taking to stop the sale of crude oil and petroleum products to North Korea in violation of sanctions.