India ///

Resurging virus sours India’s appetite for Saudi oil

India has become a vocal critic of the kingdom’s hawkish stance on oil prices and OPEC+ output policy in recent months, with mounting tensions prompting the country to seek alternative sources of crude.

India searches for new energy sources as global oil prices rise

Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said.

India presses OPEC to drop “artificial cuts” that boost oil prices

It’s not the first time India, one of the biggest buyers of the producer group’s crude, has urged the Organization of Exporting Petroleum Countries and its partners to pump more oil.

Oxy teams with Macquarie to deliver world’s first carbon-neutral oil from Permian basin to India

The transaction between Oxy and India's Reliance Industries is the energy industry’s first major petroleum shipment for which greenhouse gas emissions associated with the entire crude lifecycle, well head through combustion of end products, have been offset.

BP, Reliance start gas production on India’s ultra-deepwater KG D6 field

RIL and BP are developing three deepwater gas projects in block KG D6 – R Cluster, Satellites Cluster and MJ – which together are expected to meet ~15% of India’s gas demand by 2023.

China, India show new interest in oil from U.S.-sanctioned nations

If a Biden presidency leads to a resumption in Iranian and Venezuelan oil exports, the new supply will likely cause a further headache for the OPEC+ alliance and would also reshape crude flows to Asia.

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.