UAE seals deal with China's CNPC for onshore oil project
The Abu Dhabi National Oil Company says CNPC will pay an initial USD 1.77 billion for the concession operated by the Abu Dhabi Company for Onshore Petroleum Operations, also known as ADCO.
Feb 19, 2017, 22:36 PM IST
Angolan state oil company mirrors nation's troubles
Angolan state-owned oil company Sonangol rode the commodities boom that drove the country`s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis.
Oct 30, 2016, 12:16 PM IST
BP to cut 4,000 jobs amid oil price plunge
The cuts in BP's upstream business globally will include the loss of some 600 jobs in the North Sea.
Jan 12, 2016, 19:53 PM IST
Petrobras workers plan indefinite strike
Hit by the scandal, the collapse of international oil prices and the sharp depreciation of the real against the dollar, the government is implementing a plan to divest almost $14 billion by 2016.
Sep 02, 2015, 08:18 AM IST
Petrobras board approves sale of 25% of fuel unit, two oppose
Petrobras, as the company is known, wants to sell $15.1 billion of assets by the end of 2016 to help reduce its $132 billion of debt, the largest of any oil company.
Aug 19, 2015, 09:32 AM IST
Petrobras net profit falls nearly 90% in Q2
The company attributed the sharp drop in net income -- a figure that was far lower than analysts had expected -- to an increase in tax expenses.
Aug 07, 2015, 16:13 PM IST
IOC to invest Rs 1,500 cr to ramp up storage in Northeast
Common people of the region, especially in hill states, suffer a lot whenever there is any natural calamity or political or social disturbances, he added.
Jun 07, 2015, 16:17 PM IST
Goldman cuts crude outlook and oil company forecasts
Goldman Sachs has cut its long-term crude oil price forecasts and recommended investors sell shares in two major oil companies, saying that improved U.S. shale efficiency and higher production from OPEC will more than cover future demand.
May 18, 2015, 18:34 PM IST
Videocon-BPCL consortium discovers oil off Brazilian coast
Good quality light oil has been established in a discovery made in an offshore Brazilian block where Videocon Industries and Bharat Petroleum Corp Ltd (BPCL) hold 40 per cent interest.
Apr 20, 2015, 13:49 PM IST
Oil Ministry allows ONGC to sell gas from small fields through bids
Oil Ministry has allowed national oil companies ONGC and Oil India Ltd to sell any new natural gas supplies from their small and isolated fields through an open tender.
Apr 06, 2015, 16:20 PM IST
India rejects BP's request to market jet fuel
Consumption of aviation fuel is set to rise in India as domestic air traffic is estimated to almost triple this decade, with more of the country`s 1.25 billion people starting to fly and as airlines connect smaller cities.
Mar 30, 2015, 15:56 PM IST
IOC net loss in Dec quarter widens to Rs 2,636.80 cr
The company had reported a net loss of Rs 961.45 crore in October-December 2013.
Feb 13, 2015, 18:04 PM IST
Oil India signs contract for two oil blocks in Myanmar
OIL-led consortium won these blocks under Myanmar offshore bidding round 2013 which was launched on April 11, last year.
Dec 13, 2014, 15:43 PM IST
Oil dives 4 percent to five-year low as selling snowballs
Oil dived 4 percent to new five-year lows on Monday, as Wall Street expectations of a deeper price slump next year and a Kuwaiti prediction for $65 crude set off one of the biggest declines this year.
Dec 09, 2014, 10:14 AM IST
US judge upholds BP 'gross negligence' Gulf spill ruling
The decision by US District Judge Carl Barbier in New Orleans means BP could still face close to $18 billion of penalties for violating the federal Clean Water Act.
Nov 14, 2014, 08:56 AM IST
Indian Oil Corp Q2 loss at Rs 898 crore
Indian Oil Corp (IOC), the nation's biggest oil company, Thursday reported a net loss of Rs 898 crore in the September quarter as drop in international oil rates led to massive inventory loss.
Nov 13, 2014, 18:37 PM IST
Russia's Rosneft offers OVL stake in Vankor oilfield
Rosneft has made a formal offer to sell 10 percent stake in the strategic oilfield in Siberia to ONGC Videsh Ltd, the overseas arm of the state-owned explorer.
Oct 05, 2014, 13:06 PM IST
Sen takes over as Director Business Development of IOC
D Sen has taken over as Director (Planning and Business Development) of the nation's largest oil company, Indian Oil Corp (IOC).
Sep 22, 2014, 17:21 PM IST
Delay in gas price hike frustrating, says BP
BP Plc, Europe's second-largest oil company, on Thursday said the delay in implementation of a natural gas price hike was frustrating as the delay was holding back investments.
Sep 11, 2014, 18:10 PM IST
OIL completes acquisition of 50% stake in oil block in Russia
OIL bought the stake from Ireland-registered, Russia- focused firm PetroNeft Resources plc in License 61 in Tomsk Oblast in Russia.
Jul 04, 2014, 16:57 PM IST
