L&T shares fell on reports of Saudi Aramco deferring $10bn Safaniyah oilfield projects. L&T's bidding pipeline in West Asia remains strong,...

Oil and Natural Gas Corporation (ONGC) is facing increased operating costs due to a surge in oilfield services rates and maintenance costs ...

Earlier 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...

Saudi Arabia and Russia lead OPEC+, a grouping of nearly two dozen producing countries which controls about 40% of the global supplies. The...

The company did not provide value of the contracts but said the orders fall under "significant" category which ranges between Rs 1,000 cror...

Oil was discovered in the Al-Ajramiyah well, northwest of the city of Rafhaa, with tests showing a rate of 3,850 barrels per day (bpd).

Earlier, both companies had set March 2020 as the deadline for the deal.

Some oilfield firms have moved to lower their own costs.

“Profit will obviously be affected. But we are a national oil company and we are in it for the long haul. So we are not going to redraw our...

According to the official, the bill could go up by at least Rs 50 crore if the oil prices jump 10 per cent from USD 60 per barrel level on ...

Iran has denied involvement in the air attacks, which were claimed by Iran-aligned Houthi rebels in Yemen.

India’s oil and gas sector has been marred by tight controls, big subsidies and high-profile disputes, but in recent years, the government ...

OPEC's oil supply fell by 270,000 barrels per day (bpd) in December to a six-month low as fighting cut Libyan output.

Saudi Aramco is keen to develop unconventional gas resources to meet rising demand in Saudi Arabia, but production costs are still too high.

Iraq reported on Monday a sharp rise in proven oil reserves that saw it leapfrog Iran into third place worldwide, as the war-battered count...

The world's top oil exporter Saudi Arabia said on Monday it had discovered five new oilfields and three gasfields in the Eastern Province, ...

World oil prices held steady on Tuesday in sight of record levels partly over concerns about violence in oil-rich Nigeria and despite a ple...