India is seeking over $30 billion in compensation from Reliance Industries and BP in an arbitration case for gas it says the companies failed to produce from offshore fields, according to three people with knowledge of the matter.A tribunal has been hearing the dispute in India since 2016 over gas produced from two deepwater fields, D1 and D3, in the D6 block of the Krishna Godavari basin, seven individuals with knowledge of the proceedings said…
ADNOC Gas has signed a long-term liquefied natural gas (LNG) supply agreement worth between $2.5 billion and $3 billion with India’s Hindustan Petroleum Corporation Limited (HPCL).The 10-year sales and purchase agreement covers the supply of 0…
ELITE Oil & Gas has acquired the hazardous-area training business of EUTEX International, expanding its specialist training capabilities across Asia and the Middle East.The acquisition includes EUTEX’s hazardous-area training operations, its internationally recognized CompEx and IECEx courses…
Oil major Chevron Corp, global trading houses Vitol and Trafigura, and other firms are competing for U.S. government deals to export crude oil from Venezuela, according to sources familiar with the matter.The competition reflects a desire by…
While challenges linger from the 2025 offshore rig market, there are signs it will look brighter from late 2026 onwards.Main Events of 2025One of the biggest talking points of 2024 and 2025 was Saudi Aramco’s suspension of 36 jackups from April 2024…
Russian President Vladimir Putin has extended by one year the deadline for the sale of U.S. oil major ExxonMobil's stake in the Sakhalin-1 oil and gas project until January 1, 2027, according to a decree published on Wednesday.The extension…
BP has agreed to sell a 65% stake in its Castrol lubricants business to infrastructure investor Stonepeak at an enterprise value of about $10 billion, as the energy major presses ahead with its divestment program and balance sheet repair.The…
Japan’s JERA, the country’s largest power producer, has signed its first long-term liquefied natural gas (LNG) supply agreement outside Japan with India’s Torrent Power.Under the 10-year deal beginning in 2027, JERA will supply four LNG cargoes a year…
India's Oil and Natural Gas Corp (ONGC) will pay into Russia's Sakhalin-1 oil and gas field abandonment fund in roubles, using Indian companies' frozen dividends to retain its 20% stake in the project, three sources familiar with the matter said…
French oil major TotalEnergies and its fellow partners on the $20 billion Mozambique LNG project have agreed to provide additional equity to replace the previous contributions of British and Dutch export credit agencies, it said on Tuesday.The UK and Dutch agencies represented about 10% of the $15…
Britain and the Netherlands are withdrawing a combined $2.2 billion in support for the TotalEnergies-led Mozambique LNG project, they said separately on Monday, after both hired firms to probe human rights concerns surrounding the development…
ADES Holding has secured a two-year contract through its subsidiary Shelf Drilling for the Compact Driller standard jack-up with Brunei Shell Petroleum, a joint venture between the Brunei government and Shell.The Compact Driller deal mars ADES…
Moscow and Beijing have been discussing ways to expand Russian oil exports to China, Russian Deputy Prime Minister Alexander Novak said on Tuesday.China and India have become the main buyers of Russian oil since the start of Russia's military campaign in Ukraine in February 2022…
The weak statement that omitted any mention of fossil fuels was probably the best outcome that could have been realistically expected of the COP30 climate summit.It was always going to be a tall order to put nearly 200 countries with massively…
Oil India has exercised its option to extend the drilling contract with Dolphin Drilling for the semi-submersible rig Blackford Dolphin.Further to the initial three-well firm campaign over an estimated 14-month duration, agreed in March 2024…
Subscribe
