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OFFSHORE EXPLORATION BLOCKS
Egypt’s Atlantis? Archaeologists discover 2000-year-old lost underwater city with gold, silver and a hidden templeA lost Egyptian city, Thonis-Heracleion, submerged over 2,000 years ago, is yielding spectacular treasures. Archaeologists found gold jewel...- Brazil ready to ramp up crude supplies to India as Iran war disrupts gulf flowsBrazil is ready to increase oil supplies to India. This comes as India seeks to diversify its crude sources due to shipping issues. Brazil'...
- Oil India reports natural gas presence in second Andaman offshore wellOil India Limited has found natural gas in its third exploratory well in the Andaman offshore block. This is the second well in the block t...
- ONGC yet to take control of Cambay Block as Vedanta challenges govt moveONGC has not yet taken control of the Cambay basin block CB-OS-02. Vedanta is challenging the government's decision to reject the contract ...
- ONGC bets on gas-led growth as premium pricing boosts profitabilityONGC anticipates natural gas will drive its future growth and profitability. New high-priced gas production is set to increase significantl...
- US death tax trap: Uncle Sam's wealth puzzle leaves rich Indians worried for their kidsRich Indian families are racing to shield booming US stock portfolios from America’s 40% inheritance tax, but face complex FEMA and LRS hur...
- After Mumbai High, ONGC brings in BP in other western offshore oil, gas fieldsIn a strategic alliance, ONGC has teamed up with BP to enhance the extraction of oil and gas from its aging offshore fields in the west. Th...
- Bangladesh launches fresh offshore oil, gas tender with sweeter terms for foreign firmsBangladesh is seeking foreign investment for offshore oil and gas exploration. The country aims to increase its domestic gas supply and les...
- RIL, foreign firms refute in SC Centre's claim of 'unjust' extraction of gas from KG basinReliance Industries and its offshore partners are strongly denying allegations of siphoning gas from ONGC fields. The companies are in the ...
- ONGC shares rally 6% after govt cuts crude oil royalty; CLSA explains why it’s a big boostONGC shares surged 6% after CLSA termed the government’s decision to cut crude oil and natural gas royalty rates a major positive for upstr...
- India cuts royalty burden on oil and gas producers in push for domestic outputIndia's Centre has lowered royalty rates for crude oil and natural gas production. This move aims to encourage more domestic exploration an...
- Iran conflict exposes limits of energy transition, pushes world back to oil, gas and nuclearRecent global events, particularly the Iran conflict, have highlighted the continued reliance on hydrocarbons, pushing back EV targets and ...
- India does not plan to revive offshore mining auction in near term, sources sayIndia has shelved plans for deep-sea mining auctions, citing a lack of technological readiness and anticipated low bidder interest. The ini...
- Mines ministry identifies some offshore blocks for explorationThe mines ministry has identified offshore blocks within India's exclusive economic zone for granting operational rights, following amendme...
- Government offers royalty sops to boost oil & gas output“Concessional royalty at the rate of 10%, 20% and 30% has been proposed for category-I, II and III basins respectively," a senior governmen...
- China opens 26 new blocks in South China Sea for explorationChina's largest state-run oil firm has opened 26 new offshore blocks for cooperation with foreign companies, which included those in South ...
- Essar Energy gives up two oil blocks in AustraliaEssar Energy has relinquished two offshore exploration blocks in the Northern Territory of Australia, for which it had bid in 2008.
- Essar Exploration bags offshore block in VietnamEssar Exploration & Production, Mauritius, a subsidiary of Essar Oil, has bagged an offshore block in Vietnam's Song Hong basin.
- GAIL acquires stake in Myanmar blockGAIL (India) has acquired a stake in A-7 offshore block in Myanmar.
- OVL strikes pact with Cuban coOil & Natural Gas Corporation’s subsidiary ONGC Videsh (OVL) has entered into a production sharing contract with Cupet, the state-owned oil...
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