I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
The US government, under President Trump, justifies the intervention as a security necessity rather than a resource grab. The primary official reasons include: narco-terrorism charges, national security and migration crisis.
ONGC's foreign arm had agreed to buy firm's stake in Kashagan field for $5 billion.
Global oil and gas majors Shell and ConocoPhillips have offered to sell Australian liquefied natural gas to India to meeting its growing energy needs, petroleum secretary S C Tripathi said on Monday.
The Houston-based company is selling up to 50 per cent of its oil-sand reserves in Alberta. There are some producing assets and some exploration assets on offer.
The company has been in talks with ConocoPhillips and Shell for some time. It now says the MoD's stringent norms on exploration in 'no-go' areas is posing a big challenge in taking the deal forward.
ONGC Videsh Ltd (OVL) on Wednesday said its $5 billion bid to buy a stake in Kazakhastan's biggest oilfield has been blocked by the central Asian nation.
Italy's Eni welcomed the Indian company. The other four partners have 60 days from date agreement.
More than 70 global energy firms, including ExxonMobil, Chevron Texaco, Conoco Phillip, BHP and Shell, lined up in Houston to have a sneak preview of India's latest offering of oil and gas blocks under the New Exploration Licensing Policy.
India's ONGC has lost the giant Kashagan oilfield to the Chinese after Kazakhstan blocked its $5 billion deal to buy US energy major ConocoPhillips' stake in the Caspian Sea oilfield.
Microsoft came the closest and acquired 1.6 per cent stake in the company for $250 million valuing it at $15 billion.
The Indian oil company has been struggling to generate positive free cash flows given its already high capital expenditure programme and projected rise in its fuel subsidy outgo.
A look at the deals in the past that made news, awed investors and probably gave management sleepless nights.
The duo closes in on the stake put on the block by Videocon, US' Anadarko.
In its biggest acquisition till date, OVL, the overseas arm of Oil & Natural Gas Corp in November agreed to pay US energy giant ConocoPhillips about $5 billion for the 8.4 per cent stake in Kashagan, the biggest oilfield discovery in over four decades.
Some analysts have raised doubts on the wisdom of the recent deal. Though the Kashagan field has been under development for 12 years, involving an investment of almost $50 billion, the output isn't great. Even the earlier acquisition of Imperial Energy Corporation has not met the targets.
ONGC Videsh and ConocoPhillips said the transaction is expected to close in the first half of 2013.
Continuing its attack on Petroleum Ministry, Anil Ambani group on Thursday criticised it for its failure to attract top global players for oil and gas exploration and production due to lack of sanctity attached to concluded contracts.
On Friday, Indonesia awarded 22 new oil and gas blocks out of the 25 it had offered for bidding recently. The consortium of Essar E&P and GSPC was awarded the Southeast Tungkal block, industry sources said. Among the other winners were ConocoPhillips, Chevron Corp, Australia's Pearl Energy and Worldwide Exploration, China's Sinochem Petroleum, Malaysia's Ranhill Energy and Husky Energy.
OVL, along with global oil majors such as Royal Dutch Shell, ExxonMobil, Chevron, ConocoPhillips, British Petroleum, Total and China National Petroleum Corporation, is one of the 35 companies short-listed by the Iraqi government for the auction, which includes six oil-producing blocks with recoverable reserves of 40 billion barrels of oil, making it the largest such auction in the world.
In all, 61 companies have been pre-qualified to bid for 11 shallow water and 19 deepwater blocks in an international tender, according to Myanmar's Energy Ministry.
The Cabinet Committee on Economic Affairs last month allowed ONGC and Oil India Limited to tap shale resources in blocks allotted to them on a nomination basis.
Older workers are headed for the VRS exit in larger-than-expected numbers even as unrest stirs over unrevised wage settlements.
OVL had bid for two of the 10 shallow-water blocks that Myanmar had auctioned in December but drew a blank when the fields were awarded on March 26.
At present, in Myanmar, GAIL and IndianOil have a minority stake in a gas pipeline which goes to China, through South East Asia Gas Pipeline Company.
The Turkmenistan event underscores the lengths to which China's oil-and-gas companies will go to curry favour in resource-rich locales.
The prime minister's visit to Washington should focus more on shopping for energy security and stopping the US from snooping on us, reigning in its popular and innocuously operated instruments to gather intelligence like Google, says Tarun Vijay.
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