Brazilian state-controlled energy giant Petrobras declared that it has begun refining the first oil extracted from the ultra-deep Tupi field, one of the massive, “pre-salt” discoveries in the Santos Basin. For full story, click here
Bongaigaon Refinery and Petrochemicals, a subsidiary of Indian Oil Corporation dcelared that it has been nominated by the Government as the agency to receive crude oil from Cairn India’s Ravva oilfield in the Krishna-Godavari basin. For full story, click here
The United States government statement that U.S. employers had slashed over a half million jobs in January, the highest yet in 35 years, lead to crude oil prices dropping just below $41 a barrel, way below the high of $147 a barrel last summer. There is a link between layoffs and the demand on oil, say analysts, as those laid off see no need for the daily commute, and buy less of petroleum products like toys and raincoats.
BP and Reliance Industries signed a production sharing contract for the block KG-DWN-2005/2 with the Indian government. For full story, click here
Reliance Industries has shut crude oil production from its Krishna Godavari basin D6 fields after a pipe rupture. For full story, click here
BP and Reliance Industries (RIL) on Monday signed a production sharing contract for the block KG-DWN-2005/2 with the Government of India. For full story, click here
Reliance Industries (RIL) is expected to produce natural gas from its Krishna-Godavari (KG) basin by February next year, said an official in the petroleum ministry, who didn’t wish to be named. For full story, click here
Nigerian National Petroleum Corporation has started oil exploration in Lake Chad basin, a project it abandoned some years back. For full story, click here For company’s website, click here
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