Crude oil output was 3.71% lower than target in July 2017
The Dollar Business Bureau India’s crude oil production was short by 3.71% of the target at 3061.08 TMT in the month July this year, due to water cut problem and less than planned production by the state-owned refiners. In July 2017, the output of crude oil was also 0.53% lower as compared to same month in 2016. During April-July period 2017, cumulative crude oil production was 12084.55 TMT which is 2.64% lower than target for the period but 0.05% higher than production during corresponding period of last year, according to a release by the Ministry of Petroleum and Natural Gas. State-run refiner Oil and Natural Gas Corporation Ltd’s (ONGC) crude production was 1917.53 TMT during July, 2017, lower by 2.14% compared to the monthly ...
Indian firms likely to invest $6 bn in Mozambique ONG sector
Sai Nikesh | The Dollar Business Indian oil companies are likely to make an investment of around $ 6 billion in Mozambique’s oil and gas exploration sector. A statement to this effect was made by Dharmendra Pradhan, Indian Minister of State (Independent Charge) for Petroleum and Natural Gas, on Monday, say the reports. The Minister was said to have informed that the State-run Oil & Natural Gas Corporation (ONGC), Oil India Limited (OIL) and Bharat Petroleum Corporation Limited (BPCL), will be investing around $ 6 billion for development of a giant gas field off the Mozambique coast, over the next four years. Besides the development of the gas field, the investments are also focused at converting the fuel into ...
