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Crude and gas supply concerns have eased amid reports that Israel and Hamas have struck a peace deal.
The International Energy Agency estimates oil demand may drop slightly in calendar 24 but Opec probably has enough pricing power to maintain $80/ barrel Brent prices.
Russia s share of India s crude imports remained strong at about 35 per cent in September 2023.
ONGC contributes around 71% of India s domestic production. However, it has reported a gradual decline in output for over a decade now primarily because its fields are old and aging.
New Delhi, Feb 5: India’s top oil and gas producer ONGC is pivoting a four-pronged strategy of ramping up exploration efforts, quickly bringing discovered resources to production, raising recovery from existing fields and increasing collaborations with experts to reverse years of decline in output, its new chairman Arun Kumar Singh said. Oil and Natural Gas Corporation (ONGC) is keen to induct internationally renowned exploration firms as strategic partners in difficult areas such as deepsea and bring-in experts who can help […]
Regions surrounding the northern Bay of Bengal (BoB) received higher precipitation than the other parts of India for the last 10,200 years, said a new study that traced the dynamics of the Indian Summer Monsoon Rainfall over 10,000 .