India ///

Third-largest oil market projects faster recovery than OPEC’s estimates

India, the third-biggest oil consumer, expects fuel demand to return to normal earlier than projections by the International Energy Agency and OPEC.

Key global markets’ physical oil prices climbing as OPEC+ cuts supply

Demand is recovering in major oil consumers China and India, led by a rebound in gasoline and diesel consumption. Chinese refiners are seeing profits from turning crude into fuels, even as processors across much of the region including Singapore face negative margins.

India buying millions of barrels of Saudi crude for strategic reserves

India, the world’s third biggest oil consumer, is set to snap up millions of barrels of Middle East crude for its strategic reserves, signaling its support for global efforts to rescue the energy market.

India taking up the slack as China cancels oil deliveries

Distressed oil supplies are being offered to India as the spread of the coronavirus crimps fuel consumption across China, prompting requests for cargo deferrals and cancellations by Asia’s no. 1 importer.

Total commits $600 million to expand LNG presence in India

Total SA is spending $600 million to expand its presence in one of the world’s fastest growing natural gas markets.

India’s Petronet makes $7.5 billion investment to ship U.S. shale gas abroad

Petronet will spend $2.5 billion for an 18% equity stake in Tellurian's $28 billion Driftwood LNG terminal -- the largest outside holding so far in the project -- and negotiate the purchase of 5 MM tons of gas per annum.

Houston prepares to say ‘Howdy Modi’ as gas producers eye deals

Indian Prime Minister Narendra Modi’s imminent visit to the U.S. energy capital is fueling speculation the second most-populous nation will further tap America’s shale gas bonanza.

Oil shock unites China with Asia rivals worried about supply

Asia accounts for more than 70% of Saudi Arabia’s crude exports, with the four biggest economies – China, Japan, India and South Korea – leading the pack, according to consultancy Wood Mackenzie. That leaves them particularly vulnerable to rising geopolitical tensions in the Middle East that are now causing global crude prices to soar.

India eyes U.S. oil that China’s offering amid new tariffs

An Indian state-owned refiner is mulling the purchase of American oil from Chinese sellers offering cargoes that would be hit by new tariffs on U.S. supplies.

Saudis defending coveted India oil market with Reliance deal

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.

Aramco taking $75-billion stake in Reliance Industries’ oil, chemicals unit

The world’s biggest crude producer will soon own a part of the world’s biggest oil refinery.

McDermott awarded fluid catalytic cracking unit contract in India

McDermott International has been awarded a technology contract by Indian Oil Corporation Limited (IOCL) for the technology license, basic engineering, proprietary equipment, training and technical services for a grassroots Fluid Catalytic Cracking (FCC) unit in Panipat, Haryana, India.

McDermott completes first of two offshore campaigns for Reliance KG-D6 R cluster project

McDermott International, Inc., has announced it has completed the first of two offshore campaigns for Reliance Industries Ltd. KG-D6 R-Cluster subsea field development, in the Krishna Godavari basin, located off the East Coast of India.

TechnipFMC awarded significant subsea contracts in India

TechnipFMC has been awarded significant subsea contracts by Reliance Industries Limited for the MJ1 field located in deep water offshore India in the Krishna Godavari basin.

ONGC moves 35 drilling rigs ahead of Indian monsoon season

India’s Oil and Natural Gas Corporation Limited (ONGC) has moved a record high 35 offshore drilling rigs to new locations ahead of the Indian monsoon season.

Expro awarded significant contract in India

Expro, has been awarded a multi-million-dollar contract for Hindustan Oil Exploration Company Ltd. (HOEC) in Mumbai, India.

Sercel delivers five 508XT acquisition systems to ONGC in India

Sercel has announced the successful delivery of five of its state-of-the-art 508XT seismic acquisition systems to India’s national oil company, ONGC.

World's dirtiest air needs infusion of natural gas

One of the biggest challenges facing Indian Prime Minister Narendra Modi as he begins his second term is ensuring clean air in a country that’s home to some of the most polluted cities in the world.

Reliance rebukes reports of inappropriate payments for Venezuela oil

Claims of Reliance Industries Ltd.'s purchases of crude oil from Venezuela’s state-owned oil company, PDVSA, for payment in cash to third parties are false, according to the company.

ONGC places India on world map of heavy oil polymer flooding

Significant oil recovery has been obtained by a pilot in ONGC Becharji heavy oil field in North Gujarat, which was first put on production in July 1988.