ONGC Suspends Operations at Two Rigs in Arabian Sea After Covid-19 Cases, Tightens Safety Norms

State-owned ONGC has temporarily suspended operations at two drilling rigs in the Arabian Sea after 54 employees tested positive for coronavirus and one died but the oil and gas production has not been impacted. Operations at two rigs operating in the firm’s prime Mumbai High and Bassein fields off the west coast were temporarily suspended…

State-run oil refiners in dilemma over ‘go local’ policy for below ₹200-crore shipping deals

India’s state-run oil firms are scrambling to comply with a recent government order to go local while hiring ships to haul crude and petroleum products of value less than ₹200 crore as part of the revised Make in India policy on procuring services. The government move would be a big bonanza for local fleet owners…

BP To Hire 2,000; Set Up Global Business Service Centre In Pune,

In the midst of the vulnerabilities realized by the pandemic, Pune had been in the news for the quantity of cutbacks that occurred in the IT organizations it is home to. Notwithstanding, bringing some expectation, worldwide oil and gas organization, British Petroleum (BP), has affirmed that it will set up its new focus in Pune,…

India boosts fuel supplies to crisis-hit Ladakh border

India is raising fuel supplies to the northern region of Ladakh as the military reinforces its presence in the area following deadly clashes with China last week. State-controlled refiners led by IOC have increased supplies of diesel, gasoline, jet fuel, kerosine and LPG by 15-20pc over usual volumes since the incident on 15 June. The…

India cannot become fully digital if all transactions remain free of cost: RBI former exec director

Mumbai, The country cannot become fully digital if it continues to offer all transactions free of cost, said G Padmanabhan, former executive director of the Reserve Bank of India. Speaking at a webinar organised by Electronic Payment and Services (EPS), a retail banking technology service provider, he said that for digital transactions to really zoom…

Iran, Iraq Discuss Oil Cooperation

Iranian Oil Minister Bijan Namdar Zangeneh and his Iraqi counterpart Ihsan Abdul Jabbar discussed ways to promote cooperation between the two neighbors in the oil industry.In a telephone conversation, Zangeneh and Abdul Jabbar called for the expansion of oil cooperation between the two Muslim neighbors. The Iranian minister congratulated Abdul Jabbar on taking office as…

Russian sovereign fund chief says no point extending OPEC+ cuts

With global economies and oil demand recovering, there is no point in extending oil output cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and other producers, Kirill Dmitriev, head of Russia’s sovereign wealth fund RDIF, told RBC. Producers are currently cutting output by a record 9.7 million barrels per day (bpd) –…