India receives first crude oil shipment from US

India received its first ever shipment of crude oil from the US last week. The 1.6 million barrels of shipment was loaded at the Saint James, Louisiana and Freeport terminals in Texas and was received in the eastern Indian state of Odisha. It is part of the 3.9 million barrels of crude oil ordered by […]

Oil India Ltd to set up overseas arm

India’s second biggest oil exploration company is to set up an arm overseas in a bid to acquire oil and gas properties abroad. Reports claim Oil India Limited’s board of members have approved the “incorporation of a wholly owned subsidiary” outside the country. T.K. Ananth Kumar, Company Director for Finance told reporters: “The benefit of […]

Gazprom agrees 25 year gas deal with IOC

Gazprom Singapore has signed an initial agreement to supply the Indian Oil Corporation (IOC) with up to 2.5 million tonnes of liquefied natural gas (LNG) a year.The long-term LNG supply agreement would see the branch of the largest gas producer in the world provide India with gas for up to 25 years. Nigel Kuzemko, Gazprom […]