Work on Bharat Forge and NTPC JV begins
SCI Joins State Oil Firms to Operate Fleet for Energy Security
In a move to strengthen India’s energy security, Shipping Corporation of India Ltd (SCI) has signed a Memorandum of Understanding (MoU) with three state-owned refiners to jointly operate a fleet of crude oil tankers.Under the MoU, SCI, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Indian Oil Corporation Ltd (IOCL) plan to acquire, own, operate, and manage vessels collectively, according to SCI’s regulatory filing.“These vessels will be used for international trade as well as coastal transport of petroleum, petroleum products, petrochemicals, and ..
ONGC, Oil India Plan Rs 32 Billion Offshore Drilling Campaign
State-owned oil explorers ONGC and Oil India Limited (OIL) plan to launch a Rs 32 billion stratigraphic drilling campaign in untapped offshore areas early next year, officials said. The initiative forms part of efforts to discover new hydrocarbon reserves and reduce India’s reliance on imports.In the first phase, four wells will be drilled in the deepsea regions of the Andaman, Mahanadi, Saurashtra, and Bengal sedimentary basins. Global energy major BP will provide technical expertise in site selection and drilling operations.Stratigraphic drilling, also called a stratigraphic test well, is ..
SCI, IOC, BPCL, HPCL Collaborate to Build Shipping Fleet
The Shipping Corporation of India (SCI) has signed a Memorandum of Understanding with Indian Oil Corporation, Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) to jointly develop and operate a fleet of vessels.Under the collaboration, the companies will acquire, own, operate, and manage ships for international trade as well as coastal transport of petroleum, petroleum products, petrochemicals and other hydrocarbon cargoes, SCI stated in a filing on Saturday.This initiative, backed by the Government of India through the Ministry of Ports, Shipping an..
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