India approves legislation to boost oil and gas exploration

India has passed legislation intended to encourage oil and gas exploration to help meet its energy needs, a move that highlights the difficulty of persuading the world’s most populous nation to phase out fossil fuels. India’s dependence on imported crude oil has been rising due to increasing energy demand and lagging domestic production, with imports

Gail and AM Green signs Memorandum of Understanding for Jointly Developing Renewable Energy

GAIL (India) Limited and AM Green B.V. (AMG) have signed an Memorandum of Understanding (MoU) to explore projects aimed at advancing sustainable energy solutions in India. The partnership focuses on the long-term supply of carbon dioxide (CO2) for hybrid renewable energy projects, and eMethanol production and exploration across India. Mr Sumit Kishore, Executive Director (Business

Oil and gas discover volumes drop to new lows

The conventional oil and gas exploration spending is expected to top $50bn this year, the highest level since 2019, but discovered volumes are plummeting to new lows. Norwegian energy intelligence firm Rystad Energy has estimated that 2.6bn barrels of oil equivalent (boe) were found in the first half of 2023, down 42% compared to 4.5bn

OIL to drill oil and gas reserves at Kollam coast

Preparations are under way to drill one offshore well in the block. The drilling location has been identified as 26 nautical miles from the Kollam port.

ONGC signs a deal with ExxonMobil for deepwater reserves

India’s Oil and Natural Gas Corp (ONGC) signed a deal with global oil major ExxonMobil Corp for deepwater exploration in India’s eastern and western coasts. Under the deal, ONGC and ExxonMobil will put their attention on the deepwater reserves in India’s East and West coasts. The signing of the Heads of Agreement (HoA) ends ONGC