Oil & gas
McDermott wins $4.5 billion EPCI contracts from Saudi Aramco
12 Jul 2019
The contracts involve construction of a gas-oil separation platform, compression and accommodation facilities, in a consortium with China Offshore Oil Engineering Company, worth $3.0 billion, and construction of offshore gas facilities and pipelines worth $1.5 billion
ONGC Videsh, partners to invest $20bn in Mozambique LNG project
20 Jun 2019
ONGC Videsh holds a 16 per cent stake in the Mozambique Rovuma Area-1 Offshore Project, while Bharat PetroResources Ltd the investment arm of Bharat Petroleum Corporation Ltd, and Oil India Ltd also hold stakes in the project
Saudi Aramco’s 2018 net income zooms to $111.07 billion
12 Jun 2019
Saudi Aramco, the world’s largest integrated oil and gas company producing one in every eight barrels of crude oil globally, said its earnings before interest, taxes, depreciation and amortisation for the year stood at SAR 839 billion ($224 billion) while its return on average capital employed stood at 41 per cent
Panel suggests higher price for domestic gas to reduce imports
22 May 2019
With petroleum imports of Rs702,837 crore, forming 23.42 per cent of the country’s total imports of Rs3,001,020 crore during 2018, out-of-box solutions and R&D are needed to ensure the country’s energy security
US cannot ensure cheaper oil to India, says Wilbur Ross
06 May 2019
Ross, who is in India, leading a 100-member strong delegation of top US companies from sectors such as aviation and defence, energy, healthcare, digital services, automotive, consumer goods and agribusiness looking for what India has to offer
US sanctions threat over Iran drives oil prices to $74.40/bbl
23 Apr 2019
The US move, which has taken market participants off guard, combined with curbs on Venezuelan oil and Opec cutbacks could drive up prices above the current levels, possibly back to levels above $100 a barrel
Reliance Industries reports record Q4 net profit of Rs10,362 cr
19 Apr 2019
Reliance Jio ended FY19 with a 309 per cent increase in net profit to Rs2,964 crore and a subscriber base of over 300 million, while RIL’s retail segment revenue crossed Rs100,000 crore
Saudi Aramco eyes expansion into India with 25% in Reliance
17 Apr 2019
Reports citing sources said the Saudi oil giant, which claims spare capacity of 2 million barrels per day, is planning to invest heavily in Indian fuel retail and petrochem market
Saudi Aramco’s initial bond issue gets $100 billion order
09 Apr 2019
While reports say the bond issue is intended to raise cash for Aramco’s $69.1 billion acquisition of Saudi Basic Industries Corporation, the Saudi oil giant with core earnings of $224 billion last year and $86 billion in free cash flow at the end of 2018, does not need to borrow
Saudi Aramco to buy 70% stake in SABIC for $69 billion
29 Mar 2019
The transaction, while helping to enhance Saudi Aramco’s downstream capacity and expanding the market for SABIC, will unlock significant capital for Saudi wealth fund PIF’s continued long-term investment strategy
Vedanta strikes oil in Krishna-Godavari basin
28 Mar 2019
Vedanta says the discoveries in the H2 well comprise multiple reservoir zones and that further appraisal will be required to establish the size and commerciality of the oil discovery
Brookfield to acquire RIL’s East-West pipeline for Rs13,000 crore
15 Mar 2019
RIL, however, will continue to stay invested in the East-West pipeline with preference shares valued at Rs4,000 crore converted into equity at the end of 20 years, and will be entitled to a significant participation in its net earnings
Featured articles
Lighter than air, yet very, very powerful
By Kiron Kasbekar | 03 Jan 2024
In March 2013 Chinese scientists pulled off a remarkable feat. They created the world’s lightest aerogel. Tipping the scales at a mere 0.16 milligrams per cubic centimeter – that’s a sixth of the weight of air!
COP28 explained: A closer look at COP28's climate change solutions
By Aniket Gupta | 27 Dec 2023
The 28th United Nations Climate Change Conference, also known as COP28, took place from 30th November 2023, to 13th December 2023, at Expo City in Dubai, United Arab Emirates.
What is a Ponzi scheme?
By Aniket Gupta | 06 Dec 2023
Ponzi schemes have long captivated the public imagination, drawing unsuspecting investors into a web of illusion and deception.
The Rise and Rise of HDFC Bank
03 Jul 2023
HDFC, which surged ahead of global majors like HSBC Holdings Plc and Citigroup Inc and left Indian peers like State Bank of India and ICICI Bank in market capitalisation, now ranks fourth largest among the world’s most valuable banks, after JPMorgan Chase & Co, Industrial and Commercial Bank of China Ltd and Bank of America Corp
India’s Millet Revolution To Enrich Global Food Basket
02 Apr 2023
Millets, a healthier and cheaper substitute to wheat and rice, are indigenous to many parts of the world, especially in the semiarid tropics of Asia and Africa, and offers a big scope for expanding production and consumption in the foodgrain deficient African continent
Market predator Hindenburg preys on Adani stock
06 Mar 2023
Almost a month after the damning report of short-seller Hindenburg Research on the Adani Group that claimed that the seven stocks within the group were about 85 per cent overvalued, one of the group's stocks, Adani Total Gas, closed at Rs835 on the BSE, down nearly 79 per cent from its 24 January level, almost close to reaching that valuation
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