State oil giant Saudi Aramco is planning to enter the Indian hydrocarbon sector in a big way with the acquisition of a major stake in a mammoth $3.24 billion petrochemicals project in Gujarat, said a report.
The world's biggest oil
Seven energy firms, including Dubai-based Dragon Oil and Kuwait Energy, are likely to compete with Exxon Mobil Corp for the right to explore oil and gas blocks in northern Afghanistan, the country's Mining Ministry said in a statement.
India fell just short of its target in a chaotic $2.5 billion auction of shares in Oil and Natural Gas Corp, getting off to a faltering start in its bid to revive government stake sales to patch its widening fiscal deficit.
The country's t
The Indian government is set to raise at least $2.5 billion by selling a 5 percent stake in Oil and Natural Gas Corp (ONGC) on Thursday, aiming to patch up its widening fiscal deficit and revive its stalled privatisation agenda.
Sovereign wealth funds from the United Arab Emirates and Kuwait are among foreign investors that have pledged to buy shares in India's state-run Oil & Natural Gas Corp, the Economic Times reported on Monday.
Officials from the Kuwait
Difficulties in securing funding will delay India's Oil and Natural Gas Corp (ONGC) finalising a deal to take a 40 per cent stake in Iran's South Pars Phase 12 gas project, a source at the state-run oil explorer said on Wednesda
Kuwaiti firms may join India's state-run Oil and Natural Gas Corp (ONGC) to jointly bid in the auction for oil and gas exploration blocks in India, the company's chairman RS Sharma told reporters on Tuesday.
India aims to laun
The Indian-operated Farzad field in Iran's Farsi block is expected to produce about 9.7 trillion cubic feet (TCF) of gas in 30 years, India's junior oil minister Jitin Prasada said on Monday.
Farsi is the first overseas asset for which Ind
Indian oil company ONGC said it will proceed with its £1.3 billion ($1.89bn) takeover of UK-listed Imperial Energy, to the relief of Imperial investors who feared ONGC would back out of the high-priced deal.
The state-controlled company
Indian oil firms plan to invest $3 billion to develop gasfields in Iran's Farsi block if Tehran gives the go-ahead, a source at one of the companies said.
The source added the block holds estimated recoverable gas reserves of 12.8 trillion