State-run Oil and Natural Gas Corp (ONGC) is likely to be exempted from subsidising domestic LPG and kerosene from this month as the steep fall in global crude oil prices has eroded the gains of the company. For full story, click here
ONGC Petro-addition Ltd (OPaL) has awarded a $1.5 billion contract for its ethylene project to the consortium of Samsung Engineering of South Korea and German engineering firm Linde. For full story, click here
Malaysia is set to invest up to $14 billion in Iran’s energy sector, including development of two gas fields. For full story, click here
Natural gas prices in Georgia sank this month, following a national trend of falling energy prices. Defying the market’s usual cold weather logic, long-term contracts are going for bargain prices, as long as customers choose the right marketer. For full story, click here
India will sign production-sharing contracts this week with companies including BHP Billiton Ltd. and Oil & Natural Gas Corp. that were awarded oil and gas areas off the nation’s west coast. 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
Natural gas inventories fell by 124 billion cubic feet to stand at 3,167 billion cubic feet during the week ended Dec. 12, the U.S. Energy Information Administration reported. For full story, click here
Natural Gas prices are likely to trade sideways down, as weak oil prices can weigh on gas prices. MCX Dec contract has support at Rs. 252 levels & resistance at Rs. 266.50 levels. For full story, click here
Amid speculation of a postal strike in the UK, London-listed Imperial Energy has asked its shareholders to accept the ONGC offer “as early as possible”. Priced at 1,250 pence a share. For full story, click here
In an unusual development, the government has withdrawn the affidavit, it had filed in the Bombay High Court, arguing that Reliance Industries (RIL) cannot sell Krishna-Godavari basin gas at a price less than $4.20 per million metric British thermal units (mmBtu). For full story, click here
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