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RIG RATES INCREASE
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...- 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...
- Democrats divided on whether removing Trump is a useful midterm messageDemocrats face a strategic dilemma. Some push to address President Trump's fitness for office, while others urge a focus on the economy. Ma...
- 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...
- Operating profit of offshore rig operators may jump 30% in FY25: ReportCrude price, which averaged at USD 55 a barrel between fiscals 2016 and 2021, increased to USD 86 a barrel on average since fiscal 2022. Hi...
- 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 focuses on lowering operating costsOil and Natural Gas Corporation (ONGC) is facing increased operating costs due to a surge in oilfield services rates and maintenance costs ...
- 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...
- 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 ...
- India a bright spot in the gloomy global energy industry: Jon Fredrick Muller"India is a bright spot in the gloomy global energy industry with oil giant ONGC taking a lead in upstream activities amidst the depressed ...
- ONGC to intensify exploration activities, secures more rigsONGC is increasing its 2016 capital expenditure to about Rs 36,000 crores, up by about 10 per cent from the current Rs 33,000 crore.
- 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...
- CAG raps Gail for supplying gas at cheap prices to private firmsGail India for extended undue benefits of Rs 246 cr to private firms by supplying them gas at cheap rates.
- Religare reiterates Buy on Aban Offshore with target of Rs 2004Religare Securities has reiterated its 'Buy' recommendation on Aban Offshore with a price target of Rs 2004.
- Oil explorers in a tight spot as rigs move to UK, Mexicooil explorers led by Oil & Natural Gas Corp (ONGC) are losing rigs to rivals in countries such as Mexico and the UK as their existing contr...
- Aban Offshore drops anchor for bigger playAn attestation to this strange price behaviour is a new contract the firm has recently formalised. Aban, an offshore shipping company, has ...
- Essar Shipping to to invest 400 mn dollarsEssar Shipping and Logistics Ltd on Monday said it will invest $400 million for acquiring onshore and offshore oil drilling rigs.
- Aban Loyd to complete Sinvest deal by June 29Aban Loyd has acquired a 33.76% stake in Norwegian drilling company Sinvest for $446m.
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