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United Arab Emirates

19 Feb 2017

UAE seals deal with China's CNPC for onshore oil project

The Abu Dhabi National Oil Company says CNPC will pay an initial USD 1.77 billion for the concession operated by the Abu Dhabi Company for Onshore Petroleum Operations, also known as ADCO.

30 Oct 2016

Angolan state oil company mirrors nation's troubles

Angolan state-owned oil company Sonangol rode the commodities boom that drove the country`s extraordinary growth after civil war ended in 2002, but today it symbolises a national economic crisis.

12 Jan 2016

BP to cut 4,000 jobs amid oil price plunge

The cuts in BP's upstream business globally will include the loss of some 600 jobs in the North Sea.

02 Sep 2015

Petrobras workers plan indefinite strike

Hit by the scandal, the collapse of international oil prices and the sharp depreciation of the real against the dollar, the government is implementing a plan to divest almost $14 billion by 2016.

19 Aug 2015

Petrobras board approves sale of 25% of fuel unit, two oppose

Petrobras, as the company is known, wants to sell $15.1 billion of assets by the end of 2016 to help reduce its $132 billion of debt, the largest of any oil company.

07 Aug 2015

Petrobras net profit falls nearly 90% in Q2

The company attributed the sharp drop in net income -- a figure that was far lower than analysts had expected -- to an increase in tax expenses.

07 Jun 2015

IOC to invest Rs 1,500 cr to ramp up storage in Northeast

Common people of the region, especially in hill states, suffer a lot whenever there is any natural calamity or political or social disturbances, he added.

18 May 2015

Goldman cuts crude outlook and oil company forecasts

Goldman Sachs has cut its long-term crude oil price forecasts and recommended investors sell shares in two major oil companies, saying that improved U.S. shale efficiency and higher production from OPEC will more than cover future demand.

Videocon Industries

20 Apr 2015

Videocon-BPCL consortium discovers oil off Brazilian coast

Good quality light oil has been established in a discovery made in an offshore Brazilian block where Videocon Industries and Bharat Petroleum Corp Ltd (BPCL) hold 40 per cent interest.

06 Apr 2015

Oil Ministry allows ONGC to sell gas from small fields through bids

Oil Ministry has allowed national oil companies ONGC and Oil India Ltd to sell any new natural gas supplies from their small and isolated fields through an open tender.

30 Mar 2015

India rejects BP's request to market jet fuel

Consumption of aviation fuel is set to rise in India as domestic air traffic is estimated to almost triple this decade, with more of the country`s 1.25 billion people starting to fly and as airlines connect smaller cities.

13 Feb 2015

IOC net loss in Dec quarter widens to Rs 2,636.80 cr

The company had reported a net loss of Rs 961.45 crore in October-December 2013.

13 Dec 2014

Oil India signs contract for two oil blocks in Myanmar

OIL-led consortium won these blocks under Myanmar offshore bidding round 2013 which was launched on April 11, last year.

09 Dec 2014

Oil dives 4 percent to five-year low as selling snowballs

Oil dived 4 percent to new five-year lows on Monday, as Wall Street expectations of a deeper price slump next year and a Kuwaiti prediction for $65 crude set off one of the biggest declines this year.

14 Nov 2014

US judge upholds BP 'gross negligence' Gulf spill ruling

The decision by US District Judge Carl Barbier in New Orleans means BP could still face close to $18 billion of penalties for violating the federal Clean Water Act.

Indian Oil Corporation

13 Nov 2014

Indian Oil Corp Q2 loss at Rs 898 crore

Indian Oil Corp (IOC), the nation's biggest oil company, Thursday reported a net loss of Rs 898 crore in the September quarter as drop in international oil rates led to massive inventory loss.

05 Oct 2014

Russia's Rosneft offers OVL stake in Vankor oilfield

Rosneft has made a formal offer to sell 10 percent stake in the strategic oilfield in Siberia to ONGC Videsh Ltd, the overseas arm of the state-owned explorer.

22 Sep 2014

Sen takes over as Director Business Development of IOC

D Sen has taken over as Director (Planning and Business Development) of the nation's largest oil company, Indian Oil Corp (IOC).

11 Sep 2014

Delay in gas price hike frustrating, says BP

BP Plc, Europe's second-largest oil company, on Thursday said the delay in implementation of a natural gas price hike was frustrating as the delay was holding back investments.

04 Jul 2014

OIL completes acquisition of 50% stake in oil block in Russia

OIL bought the stake from Ireland-registered, Russia- focused firm PetroNeft Resources plc in License 61 in Tomsk Oblast in Russia.

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