Qatar To Acquire Stakes In Petronet

Peronet LNG

India has offered Qatar a 5.2 per cent stake that Asian Development Bank (ADB) held in Petronet LNG Ltd, the nation's largest liquefied natural gas importer. Petronet, which is registered as a private company even though public sector oil firms hold 50 per cent stake and the Oil Secretary is its chairman, has approached Qatar Petroleum International (QPI) … [Read more...]

ONGC, Mitsui Sign Pact For Gas, LNG Businesses

State-run oil and gas giant Oil and Natural Gas Corporation has signed an agreement with Mitsui & Company of Japan for a wide ranging cooperation in the gas and LNG businesses. The MoU is expected to pave the way for setting up a re-gasification terminal in the country including the marketing of re-gasified LNG. Under the agreement, which is … [Read more...]

ONGC Discovers Huge Oil Deposits Off Mumbai Coast

State owned ONGC has made a huge oil discovery off the West coast. The new discovery has been made in the currently producing D1 oilfield. The find will make D1 to become the third largest field in western offshore after the Mumbai High and Heera offshore oil fields. D1 is currently producing 12,500 barrels per day and its output could go up to 60,000 … [Read more...]

ONGC, Australian Varsity Ink Pact

ONGC and the Australia-based the School of Petroleum Engineering at the UNSW (University of New South Wales) have forged a research agreement to tap oil resources in some tough and challenging locals in India. These are called basement reservoirs. The research initiative will evaluate the potential of these unconventional oil resources. The project will … [Read more...]