ONGC starts evacuating oil from Panna field

ONGC has achieved a significant cost reduction of approximately $43,000 per day by connecting the platform with subsea pipeline. Additionally, the submarine pipeline connection minimizes the production downtime associated with tanker changeovers and eliminates demurrage charges during adverse weather conditions

Shell Chemicals Park Moerdijk accelerates transition to netzero emissions

Shell Chemicals Park Moerdijk, a subsidiary of Shell plc, today announced a new investment that supports its plan to transition the chemicals park into a site able to serve the changing needs of our customers. Customers want more low-carbon products and products made using recycled material. Shell Moerdijk will build a new pyrolysis oil upgrader

Hungary sticks its stand on energy investment before banning Russian oil

Hungary stuck to its demands for energy investment before it agrees to a Russian oil embargo, clashing with European Union states pushing for swift approval of more sanctions against Moscow for invading Ukraine. The EU executive European Commission early this month proposed new sanctions but Hungary’s opposition has so far barred the unanimity of all

Israel to clampdown polluting oil refineries

Israel approved in principle a plan to shut down Haifa’s oil refineries and petrochemical plants, marking Israel’s first-ever planned dismantling of an industrial zone and an important step toward complying with the Paris climate change agreement. But the resolution contained no timeframe for the closure, nor was any budget approved for it. Implementing it will

India’s fuel appetite seen at a record even as oil nears $100

India, the world’s third-biggest oil user, expects consumption of petroleum fuels to touch a record next year even as crude prices move toward the $100-a-barrel mark. Demand has been pegged at 214.5 million tons in the year starting on April 1, according to predictions by the Indian oil ministry’s Petroleum Planning and Analysis Cell. If

Saudi Arabia transfers 4% of Aramco to wealth fund

Saudi Arabia has transferred 4% of the shares in state-controlled Saudi Aramco to the country’s sovereign wealth fund, the Public Investment Fund (PIF), the government said today, in a move aimed at supporting efforts to restructure the kingdom’s economy and diversify it away from oil. The transfer, which was announced by Saudi Crown Prince Mohammad

“We still want the government in our lives thanks,” say fossil fuel companies

Following the Prime Minister’s claims that it’s time for governments to step back from Australians’ lives, fossil fuel companies across the country say they’d like the government to stay involved with theirs for quite a while longer if that’s ok. A spokesperson for the mining, oil, gas and coal industries quietly pointed out that they