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OIL RIGS MARKET
Is the Iran war just an energy shock - or a turning point?A potential U.S.-Iran peace deal to reopen the Strait of Hormuz could signal a watershed moment for global energy markets, moving beyond a ...- Ten reasons oil is still below $100 a barrelGlobal oil prices remain surprisingly low despite the ongoing war in Iran. China's drastic cut in oil imports is a major factor. Demand des...
- World faces biggest-ever energy security crisis as Iran war disrupts fuel flows, warns IEAThe world faces an unprecedented energy security crisis, forcing nations to seek new supply routes and boost domestic production. The Inter...
- Congress calls fuel hikes "silent tax on households", accuses govt of "corporate protection racket"Fuel prices have risen for the fourth time in ten days. Congress leaders condemn these increases as a silent tax on Indian households. They...
- 'An economic storm is coming': Rahul Gandhi warns of massive financial shock to common peopleRahul Gandhi on Tuesday accused the Centre of creating an economic structure that benefits select billionaires and warned that India is hea...
- ONGC cancels jack-up rig tender over cartelisation fears, flags 60% spike in bid pricesState-run ONGC has cancelled a tender for jack-up rigs due to concerns over unusual price hikes and bid patterns, suspecting collusive prac...
- ONGC rig pricing veto may tighten fuel tapIndia's offshore drilling sector is facing a significant challenge. Oil and Natural Gas Corporation (ONGC) has cancelled multiple tenders f...
- Global rigs shortage delays Indian oil and gas exploration projectsIndian explorers are finding it hard to source rigs, especially jack-up rigs, for their projects, as high oil prices have pushed up explora...
- ONGC finding it hard to get offshore rigs in a 'tight' marketEarlier this year, ONGC sought 12 rigs for its projects but got only 10. New rig contracts it signed then were about 50% more expensive tha...
- MEIL to deliver $860 million worth 47 oil & gas rigs to ONGC by 2022 endOut of 47 Rigs, there are 20 Workover Rigs-(used to perform workover operations in a well) and 27 Land Drilling Rigs.
- ONGC plans to buy 27 rigs for up to Rs 3,500 crState-run explorer looks at replacing nearly half of its ageing 67 onshore drilling rigs, floats tender seeking bids by November 14.
- US oil output is rising, that doesn’t mean price will fallAfter bottoming out in May 2016 after oil prices had fallen below $30 a barrel, the number of US oil rigs has almost tripled.
- Essar Oilfield Services eyes 20% jump in revenues next fiscalThe company, which owns 16 rigs used for drilling of oil and gas, is expected to end the current fiscal with a revenue of Rs 300 crore, up ...
- ONGC, directors pulled up for plan to skip tenderingONGC had planned to hire nine rigs through nomination, apparently to save time in the hiring process, in 2015, but didn’t go ahead after ET...
- Essar Oilfields reports $14.84 mn profitEssar Oilfields Services Ltd today reported net profit of USD 15.71 million for 2012-13 as against USD 14.84 million loss in the previous f...
- ONGC seeks rig from global oil firms for KG block workONGC is in talks with global oil firms StatOil, Norway’s Norsk Hydro among others, to secure an ultra deepwater rig for drilling well UD-1.
- Gremach inks $1bn contract with CNPC coGremach Infrastructure has inked a $1-billion contract with Baoji Oilfield Machinery (Bomco) - a 100% subsidiary of CNPC - for importing on...
- RIL hunts for rig with $1 bn warchestThe co is working aggressively to corner rigs across the world, either by leasing them or by simply buying.
- Co set to re-enter oil rig businessBharat Heavy Electricals Ltd (Bhel) is making a re-entry into oil rig manufacturing business with the company expecting a Rs 680-crore orde...
- ONGC bets on term contracts for rigsPublic sector oil major ONGC could save close to a billion dollars over the next three years on charter of offshore drilling rigs, if the m...
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