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Latest Articles in oil and gas
Reliance To Contest Government's $1.55 Billion Penalty
Reliance Industries is to contest a $1.55 billion fine imposed by the government on the company and its partners for selling gas belonging to the blocks of Oil and Natural Gas Corp
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Oil CEOs To Unveil Renewable Energy Fund In New Climate Push
The chief executives of seven oil and gas companies - BP, Eni, Repsol, Saudi Aramco, Shell, Statoil and Total - will announce details of the fund and other steps to reduce greenhouse gases in London
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India's $20 Billion Refinery Expansion To Cut Fuel Oil Output
India may turn into a net importer of fuel oil as its state-owned refiners are making multi-billion dollar investments to upgrade their refineries and produce more profitable refined products such as gasoline or diesel
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Russia's UCP Says Plans To Keep Essar Oil Stake For 3-5 Years
Russian state oil company Rosneft will get a 49 per cent stake in Essar Oil in the deal, which was structured to mitigate western sanctions and was valued at $12.9 billion
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High Court Dismisses Cairn India's Plea To Export Crude
The court said in the absence of a notice from the Centre saying India has attained self sufficiency, Cairn 'can only claim compensation' from the government under the production sharing contract
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Deal With Rosneft Is US Sanctions-compliant, Says Essar Group CEO Prashant Ruia
The $12.9 billion sale of India's Essar Oil to a group led by Russia's Rosneft does not run foul of US sanctions imposed against the majority state-owned Russian energy firm, parent Essar Group's CEO said
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India, Russia To Study Building $25 Billion Pipeline
The shortest route will entail bringing the pipeline through Himalayas into Northern India, a route which poses several technical challenges
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Rosneft-led Group Acquires Essar Oil For Nearly $13 Billion
Russia's state-controlled oil giant Rosneft and its partners on Saturday took over India's second biggest private oil firm Essar Oil in an all-cash deal valued at about $13 billion
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Rosneft, Trafigura And UCP To Buy Essar Oil For $12-$13 Billion, Say Sources
Russian oil major Rosneft, along with European trader Trafigura and Russian fund UCP, will acquire 98 per cent in India's Essar Oil for about $12-$13 billion including debt
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BP To Set Up 3,500 Fuel Stations In India
European oil major RoyalDutch Shell has 82 fuel stations in India, a retail market dominated by state refiners that own 93 per cent of the 56,190 outlets in the country
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BP India Gets Licence To Sell Jet Fuel In India
The company says it is 'a very large player globally in the aviation business, so it makes sense' to have a presence in India
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Gas Price For Industrial Use Cut By 18 Per Cent
As per the new gas pricing formula approved by the NDA government in October 2014, gas prices are to be revised every six months and the next change is due on April 1
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Oil Prices Slide On Profit-Taking After Two-Day Jump
Brent and US crude are on course for a weekly gain of around 7 per cent, prompting investors to take profits in the Asian trading session
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OPEC Agrees Modest Oil Output Curbs In First Deal Since 2008
Many traders said they were impressed OPEC had managed to reach a compromise after years of wrangling but others said they wanted to see the details
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Oil Climbs After Industry Data Shows US Inventory Draw
Even if Riyadh and Tehran reach an agreement on adjusting output levels, OPEC will still have to contend with the ambitions of other members to boost their output
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