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Singapore-based arbitrator to preside over RIL-ONGC dispute

Singapore-based arbitrator to preside over RIL-ONGC dispute

Singapore-based arbitrator Prof Lawrence Boo has been named as the presiding judge of a three- member arbitration panel that will go into the validity of government's demand of USD 1.55 billion compensation from Reliance Industries for "unfairly" producing ONGC's gas.

Govt grants license to BP Plc for setting up 3,500 petrol pumps in India

Govt grants license to BP Plc for setting up 3,500 petrol pumps in India

Government has formally granted a licence to BP Plc, Europe's third-biggest oil company, to set up 3,500 petrol pumps in India, making it the 10th company to enter the lucrative fuel retailing sector.

BP chief Bob Dudley sees oil at $55-70 a barrel in coming years

BP chief Bob Dudley sees oil at $55-70 a barrel in coming years

Oil should hover at around $55-70 a barrel for the rest of the decade as the energy industry undergoes "profound changes" after crude prices came under heavy pressure in recent years, BP chief executive Bob Dudley said on Tuesday.

RIL, BP spend Rs 4,500 crore to maintain gas output at KG-D6

RIL, BP spend Rs 4,500 crore to maintain gas output at KG-D6

RIL-BP are currently producing from Dhirubhai-1 and 3 gas field and MA oil and gas field, three of the over one-and-half dozen discoveries made in the Bay of Bengal Block KG-DWN-98/3 or KG-D6.

BP for extending marketing, pricing freedom to gas fields

BP Plc, Europe's second-largest oil company, Friday made a case for extending the marketing and pricing freedom given to operators of marginal and small oil and gas fields to conventional fields like KG basin D6 block.

BP seeks higher gas price for undeveloped discoveries

BP chief executive Bob Dudley yesterday met Prime Minister Narendra Modi, first since the BJP-led government stormed to power last May, and followed it up with a meeting with Oil Minister Dharmendra Pradhan this morning.

RIL, BP give up 2 more blocks; tally down to 4

Since 2012, RIL and BP have been pruning their portfolio, shedding not so viable acreage.

BP wins right to appeal Gulf spill damages claims

BP Plc deserves the right to have a federal appeals court review some damage claims awarded under the settlement to compensate people and businesses harmed by the 2010 Gulf of Mexico oil spill, a U.S. appeals court ruled on Friday.

RIL-BP to triple gas output from KG-D6 by 2021-22

Reliance Industries and its partner BP plc will nearly triple natural gas production from their eastern offshore KG-D6 block by 2021-22 in anticipation of a 'right' gas price covering their exploration risk.

OilMin wants BP to furnish bank guarantee for ATF licence

The Oil Ministry wants UK's BP plc to furnish a bank guarantee and an undertaking that it will meet the minimum investment requirement for getting a licence to retail jet fuel (ATF) to airlines in India.

Payout from BP oil spill settlement tops $5 billion

The administrator overseeing a BP Plc fund to compensate people and businesses claiming they were harmed by the 2010 Gulf of Mexico oil spill said on Wednesday more than $5 billion has been paid out.

India rejects BP's request to market jet fuel

Consumption of aviation fuel is set to rise in India as domestic air traffic is estimated to almost triple this decade, with more of the country`s 1.25 billion people starting to fly and as airlines connect smaller cities.

BP appeals US judge's ruling on size of Gulf oil spill

BP Plc on Monday appealed a federal judge`s finding of the size of the 2010 Gulf of Mexico oil spill, which leaves the company potentially liable to pay $13.7 billion in fines.

BP Plc writes off $830 million investment in KG-D6 block

BP Plc has written down the value of its investment in eastern offshore KG-D6 block by USD 830 rpt USD 830 million, following lower-than-expected gas price hike.

RIL, BP to invest about Rs 6000 cr to improve gas recovery

RIL, BP to invest about Rs 6000 cr to improve gas recovery

Reliance Industries and its partner BP plc of UK will invest about Rs 6,000 crore by 2016 to help sustain and improve recovery from the two main gas fields in the eastern offshore KG-D6 block.

US judge upholds BP 'gross negligence' Gulf spill ruling

The decision by US District Judge Carl Barbier in New Orleans means BP could still face close to $18 billion of penalties for violating the federal Clean Water Act.

Investment decision only after clarity on gas price: RIL

Reliance Industries has said it will make a final investment decision on producing gas from the R-Cluster discovery in the flagging KG-D6 block only after the government decides on gas price hike.

Delay in gas price hike frustrating, says BP

BP Plc, Europe's second-largest oil company, on Thursday said the delay in implementation of a natural gas price hike was frustrating as the delay was holding back investments.

BP seeks to recoup ''windfall'' Gulf spill payments

BP said the uncapped settlement could cost USD9.2 billion, higher than its original USD7.8 billion estimate, and that this amount could grow.

New gas rates to be applicable from Apr 1: RIL to buyers

Forced to sell gas at rates that have long expired, Reliance Industries has categorically told buyers of its KG-D6 gas that new rates as and when approved, will apply from April 1.