UK government tells BP it would oppose takeover: Reports

Last Updated: Monday, April 27, 2015, 22:26

The British government has warned oil giant BP that it would oppose a foreign takeover of the company weakened in recent years by the Gulf of Mexico oil spill, media reports said Monday.

Videocon-BPCL consortium discovers oil off Brazilian coast

Last Updated: Monday, April 20, 2015, 13:49

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.

Anadarko considers selling Mozambique gas assets to Exxon

Last Updated: Saturday, April 18, 2015, 03:48

Anadarko Petroleum is considering selling its multi-billion dollar stake in Mozambique`s giant gas reserves, with Exxon Mobil and Qatar Petroleum [QATPE.UL] both showing interest, banking and industry sources said.

India seeks 2 million bbl May loading Basra oil for SPR

Last Updated: Tuesday, March 24, 2015, 23:15

India has asked its biggest refiner IOC and another state refiner Hindustan Petroleum Corp. to buy two very large crude carriers each or 8 million barrels of Basra Light oil for the SPR at Vizag on the east coast.

Oil rebounds above $56 as weaker dollar overshadows China slowdown

Last Updated: Tuesday, March 24, 2015, 18:21

Brent crude reversed early losses to rise above $56 a barrel on Tuesday, as a weaker dollar overshadowed signs of slowing growth in China and Saudi Arabian oil production close to an all-time high.

Oil regulator seeks more time to respond on CNG retail licence

Last Updated: Tuesday, March 24, 2015, 16:15

Oil regulator PNGRB has sought more time to respond to Petroleum Ministry's move to snatch away its powers to issue CNG retailing licences.

India to import Iraqi oil to fill strategic reserves

Last Updated: Thursday, March 19, 2015, 10:52

India is set to import 8 million barrels of Iraqi oil to fill its first strategic petroleum reserve (SPR).

OPEC daily basket price drops

Last Updated: Tuesday, March 17, 2015, 16:53

The basket of 12 crude oils of the Organisation of Petroleum Exporting Countries (OPEC) closed at $49.46 a barrel on Monday, compared to $51.66 last Friday, dropping over $2, the organisation`s secretariat said.

Oil diplomacy: Pradhan to visit Mozambique next month

Last Updated: Tuesday, March 17, 2015, 16:52

Oil Minister Dharmendra Pradhan is likely to visit Mozambique next month to press the African nation to quickly ratify a law that will help Indian firms proceed with multi-billion dollar gas project.

Egypt conference agrees billions in investments

Last Updated: Saturday, March 14, 2015, 22:35

Egypt had signed investment deals worth billions of dollars by Saturday, the second day of a three-day conference aimed at reviving the country`s troubled economy.

Petroleum Ministry Espionage Case: 60 lakhs recovered from CA's office

Last Updated: Thursday, March 12, 2015, 19:29

Around 60 lakh rupees were recovered in chartered accountant Khemchand Gandhi's office following a CBI raid of the Mumbai and Delhi offices in the Petroleum Ministry on suspicions of espionage.

BP unveils $12 bn investment in Egypt gas fields

Last Updated: Friday, March 6, 2015, 17:43

British energy giant BP said Friday it would invest $12 billion (11 billion euros) in gas fields in Egypt together with Russian-owned partner DEA, calling it a "vote of confidence" in the country.