Oilfield

The West Qurna-1 oilfield is jointly developed by CNPC and Exxon Mobil, with the U.S. major as the operator.

India looks to raise oil imports from Iran as sanctions lifted

Under pressure from US and other western powers, India had relegated its second biggest oil suppliers by cutting down purchases from 21.2 million tons in 2009-10 to 11 million tons in 2013-14. Imports have been of that order in last three years.

Cairn India jumps 2% on buyback nod, investment plans

The schemes will help recover over 90 million barrels of oil in the Rajasthan block and sustain peak output for a longer time. Cairn India currently produces close to 1,85,000 barrels of oil per day from the Rajasthan block and will exit the financial year with over 2,00,000 bpd output, he said.

Brent above $103, set for biggest weekly gain late April

All eyes are on US employment data due later in the day to gauge the health of the world's biggest economy.

Essar Shipping Q4 net plunges 99.91% to Rs 5 lakh

Essar Shipping reported 99.91% decline in Q4 consolidated net profit at Rs 5 lakh, its total income also plunged 11.78 percent to Rs 729 crore

RIL-BP win approval for drilling well in KG-D6 block

Reliance Industries and its partner BP plc have won approval to drill a well on the MA oil field in the flagging KG-D6 block to augment natural gas production.

Cairn begins gas sales from Rajasthan block

After giving the nation a massive oil discovery, Cairn India today began natural gas sales from its prolific Rajasthan block on borders with Pakistan even as it put another oilfield in the area on production.

RIL shortlisted for multi-billion dollar Iraq oil project

Iraq today shortlisted Reliance Industries and six other firms for developing its Nasiriya oilfield and the construction of an associated 300,000 barrels per day refinery.

Cairn looking at dip in output?

There seem to be some hiccups in Cairn‘s production plans in Rajasthan, according to sources. The company is believed to be preparing for a worst case scenario of an early decline of output of the Mangla field, and has apparently started updating analysts of a possible hit in production.

ONGC hires FPSO for oil production from D1 oilfield

State-owned Oil and Natural Gas Corp (ONGC) has for the first time ever hired a floating oil production system to produce oil from its D1 oilfield off the Mumbai coast.