The government is expecting a 'huge' response to its largest ever auction of 55 oil and gas blocks for which bids close on Friday.
At least half a dozen national and international oil giants, including Reliance and Royal Dutch Shell, joined the race, on Friday, for acquiring government's 34 per cent stake in Hindustan Petroleum Corporation Ltd.
He will replace Add Jacobs, who will retire after less than one year in the post at Shell.\n
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will buy a 15 per cent stake in Brazilian oil field from Royal Dutch/Shell.
Royal Dutch/Shell will receive the first cargo of liquefied natural gas at its Hazira terminal in Gujarat this month.
ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp, will acquire US energy firm ExxonMobil's 30 per cent stake
Royal Dutch/Shell, world's third largest oil and gas firm, on Thursday said its $600-mn Hazira liquefied natural gas import terminal in Gujarat was fully operational and the company had no plans to sell it off.\n\n
The world's third largest oil firm Royal Dutch/Shell has offered state-run gas firm Gail (India) Ltd a 15 per cent stake in an offshore medium sized gas field in Egypt.
Royal Dutch/Shell on Thursday said it may set up a petroleum refinery in India, a country to which it attaches highest priority.
At least four firms including Gas Authority of India Ltd, Petronas of Malaysia and British Gas have bid for supplying natural gas/LNG to Reliance Energy's mega 3740 MW gas-fired power plant at Dadri in Uttar Pradesh.
The government is considering de-canalising import of petrol and diesel from the next fiscal, a move long awaited by global oil majors like Royal Dutch Shell to begin petro retailing in the country.
Shell gets govt's nod to import petrol, diesel
Royal Dutch/Shell is likely to bid along with French oil giant Total for the state-run National Thermal Power Corporation's mega LNG supply tender.
Royal Dutch/Shell on Tuesday said it plans to invest Rs 3,000 crore (Rs 30 billion) in setting up a bulk cargo and container terminal at Hazira port, where it has built an LNG receiving terminal.
World's third largest oil firm Royal Dutch/Shell will source petrol and diesel from Mangalore Refinery and Petrochemicals Ltd for its upcoming 2000 petrol stations in the country.
Royal Dutch-Shell has made a come back after nearly three decades in fuel retailing in India, setting up its first petrol pump in Bangalore.
Cairn Energy of the United Kingdom has again struck oil in Barmer basin of Rajasthan, Petroleum Minister Ram Naik said on Friday.
Royal Dutch/Shell may source liquefied natural gas from Oman, Qatar, Malaysia and Australia for sale in India from the first quarter of 2005.
National Thermal Power Corporation has rejected bids of British oil and gas major BG Group and public sector oil companies' consortium Petronet LNG Ltd for supply of 3 million tonnes of liquefied natural gas.
Royal Dutch/Shell said on Wednesday that it will open up its first petrol station in India by the end on 2004 and begin importing liquefied natural gas in the first quarter of 2005.
India is likely to intensify diplomatic efforts with Angola to secure clearance for ONGC Videsh Ltd's acquisition of 50 per cent interest in an oil field in the oil-rich African country.
Royal Dutch/Shell Group plans to grow its natural gas business relative to its oil assets and intends to supply gas to the United States, the Wall Street Journal reported on Tuesday.\n\n\n\n
State-owned Indian Oil Corporation plans to invest close to Rs 1500 crore (Rs 15 billion) in 2003 to set up about 1000 petrol stations and improve its retail infrastructure before competition from private retailers.
National Thermal Power Corporation has extended by two weeks to May 12 the last date for bidding for its mega LNG supply tender, to enable Royal Dutch/Shell to cobble a joint bid with French oil giant Total.
ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp, said on Thursday that it will acquire Anglo Dutch oil giant Royal Dutch/Shell's entire 50 per cent stake in an oil block in Angola for about $600 million.
The world's third largest oil firm Royal Dutch/Shell has objected to state-run Gail India Ltd being made the sole agency to build the Rs 20,000 crore
Royal Dutch/Shell, the world's third largest oil and gas group, has sought waiver of the Rs 500 crore (Rs 5 billion) bank guarantee norm for grant of licence to sell petrol and diesel.
Government has asked world's number three oil and gas group Royal Dutch Shell to furnish more details of its plans to set up about 2000 petrol stations in the country before it can be granted licence to sell petrol and diesel.
US private equity firm I Squared Capital is dropping out of the race to buy India's second-largest state oil firm, Bharat Petroleum Corporation Ltd (BPCL) owing to a complex deal structure and lack of financial backers for the transaction, sources said. I Squared Capital through its Indian arm, Think Gas was among the three suitors that had evinced interest in buying the government's near 53 per cent shareholding in BPCL. "The company has made a decision not to participate in the financial bidding," a source with direct knowledge of the development said.
The British mobile phone operator was widely expected to go for an international arbitration after its talks with the Indian government failed to find a solution last year.
Reliance Industries Ltd on Thursday announced a Rs 75,000 crore investment in new energy business over the next three years as the operator of the world's largest oil refinery pivots towards a greener and cleaner version. Reliance will build solar manufacturing units, a battery factory for energy storage, a fuel cell-making plant and an electrolyzer unit to produce green hydrogen as a part of the business, chairman Mukesh Ambani said at the company's annual general meeting with shareholders on Thursday. It will also set up 100 gigawatts (GW) of solar power generation capacity by 2030 and invest in setting up a carbon fibre plant.
Though there have been no cancellations of contracts by invoking the force majeure clause, a number of clients - especially in the worst-affected sectors like travel and hospitality, oil and gas, as well as manufacturing - have started asking for reducing level of IT support.
Richest Indian Mukesh Ambani-led RIL was the top private sector company from the country as it jumped from 203rd rank last year to 148th.
Total, which had a few weeks back exited Royal Dutch Shell-led Hazira LNG import terminal in Gujarat, will join Adani in developing a 5 million tonnes a year import facility at Dhamra in Odisha. The two will also set up a joint venture to roll out a fuel retail network of 1,500 outlets, mostly on highways, in the next 10 years, Adani and Total said in a joint statement.
Govt's move will facilitate entry of global giants such as Total SA of France, Saudi Arabia's Aramco, BP Plc of the UK, and Trafigura's downstream arm Puma Energy.
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