Hindustan Petroleum Company News

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Refiners Taken Aback by Saudi Output Pledge
Several oil refiners in Asia were taken aback by Saudi Arabia's pledge to curb 1 million barrels a day of supplies from next month.
7:00 PM EST | January 06, 2021
Investors Eye $6.5B India Refiner Privatization
The planned $6.5 billion sale of the Indian government's stake in Bharat Petroleum has lured several global oil majors.
8:00 PM EST | July 30, 2020
India Refiner HPCL Sees More Scope For Foreign Buys After ONGC Deal
Hindustan Petroleum sees itself better placed to buy overseas downstream assets once it becomes part of the country's top explorer Oil and Natural Gas Corp, its chairman M. K. Surana said.
8:00 PM EST | July 19, 2017
India Approves Creation of State Oil Giant in $4.6 Billion Deal
India approves the sale of a $4.6B stake in refiner Hindustan Petroleum Corp. to the country's biggest oil and gas explorer, according to a person with knowledge.
8:00 PM EST | July 18, 2017
Iraq Undercuts Saudi Arabia In Q2 To Grab Top Spot In India Oil Market
Iraq overtakes Saudi Arabia for the first time to become India's top oil supplier in the June quarter, helped by sales of discounted heavy crude that refiners have also been using to make bitumen to build roads in the world's No.3 oil consumer.
8:00 PM EST | July 18, 2016
Battle of Three Oil Benchmarks Upending Crude Flows Across Globe
The oil tanker Tofteviken setting sail from the UK this month carrying the first shipment of North Sea Ekofisk crude to the US Gulf Coast in five years.
7:00 PM EST | February 04, 2016
AWE Completes Partial Sale of Stakes in 2 Bass Basin Permits to HPCL
AWE completes partial sale of its stakes in Australia's Bass Basin permits T/L1 and T/18P to a subsidiary of India's Hindustan Petroleum.
7:00 PM EST | November 04, 2014
HPCL's Unit Acquires Stakes in 2 Bass Basin Permits from AWE for $74M
AWE sells part of its stakes in permits TL/1 and T/18P in Australia's Bass Basin to India's Prize Petroleum for around $74 million.
7:00 PM EST | January 27, 2014
India Cbank Opens Forex Swap Window for State Oil Retailers
The Reserve Bank of India has decided to open a forex swap window to meet the daily dollar requirements of three state-run oil marketing companies.
8:00 PM EST | August 27, 2013
Oilex Prepares Al Jumd Testing Program in Block 56
Oilex has advised that preparations for the Al Jumd-1 testing program are being finalized and operations are planned to commence on February 26, with the initial flow period planned to be completed around March 6-8.
7:00 PM EST | February 24, 2009
Oilex Completes Drilling in Oman's Block 56 with Encouraging Results
Oilex's 4-well drilling program in Oman's Block 56 has been successfully completed with encouraging results from 3 wells, which have confirmed the oil potential of the Eastern Flank Salt Basin in the block.
7:00 PM EST | January 13, 2009
India Consortia Bag 3 Oil Exploration Blocks in Egypt
Two consortia of Indian companies led by state-run Gujarat State Petroleum Corp. have been awarded three offshore oil exploration blocks in Egypt.
7:00 PM EST | November 06, 2008
Oilex Drills Extra 200 Meters of Horizontal Oil Pay at Oman's Sarha-2
The Sarha-2 well in Block 56, Oman, has completed drilling a horizontal well in the Sarha Field to a measured depth of 2,138 meters, giving an horizontal intersection of approximately 700 meters in the Al Khlata reservoir.
8:00 PM EST | October 12, 2008
Oilex Continues Drilling, Testing at Sarha, Cambay Wells
Oilex has advised that drilling and testing operations continue in India and Oman, and has issued an update with information concerning its Sarha and Cambay wells.
8:00 PM EST | September 22, 2008
Oilex Resumes Drilling Ops in Oman, Continues Development in India
Oilex issued an operational update for its Sarha-2, Cambay-19Z and Cambay-73 wells. The Company reported that drilling operations have resumed in Oman and drilling and testing continues in India
8:00 PM EST | September 08, 2008
Sasol Nabs 30% Interest from JV's Exploration Permit Offshore Australia
Oilex advised that the Joint Venture entered into a Farmout Agreement under which each party will assign a 6% participating interest in the Exploration Permit WA 388P to Sasol Petroleum Australia Ltd.
8:00 PM EST | August 11, 2008
Oilex's India, Oman Operations on Schedule
Oilex advises that the Cambay-23Z well has been completed as a potential gas production well.
8:00 PM EST | April 28, 2008
India to Issue $2.3 Billion in Bonds to Oil Companies
India's federal government Friday said it will issue INR92.97 billion ($2.3 billion) worth of special bonds to state-run oil marketing companies to compensate them for selling fuel at discounted prices.
8:00 PM EST | March 27, 2008
Oilex Discovers Oil Shows with Oman Drilling
Drilling on the Sarha-1 exploration well has reached TD of 1,890 meters in the Cambrian Huqf Formation. Oil shows and anomalous resistivity values were recorded within the Huqf carbonate sequence below 1,645 meters and will be further evaluated.
7:00 PM EST | January 21, 2008
Oilex Hits Oil and Gas at Sarha-1 in Oman
The Sarha-1 exploration well, the first of three exploration wells that will be drilled by Oilex in a continuous sequence in the Block 56 Production Sharing Contract Area, Sultanate of Oman is drilling ahead in 81/2" hole below 1,673 meters.
7:00 PM EST | January 14, 2008
India's State-Run Oil Co Execs to Strike from Tuesday
Executives of some Indian state-run oil companies will go on an indefinite strike from Tuesday for higher wages among other things, officials of the executives' union said Monday.
8:00 PM EST | August 19, 2007
GeoGlobal Signs Four PSCs for Onshore India Blocks
GeoGlobal Resources Inc. has signed production sharing contracts (PSCs) on its four previously awarded exploration blocks in India.
7:00 PM EST | March 06, 2007
Prize Petroleum Eyes Devon's Egypt Oil Blocks
Indian exploration firm Prize Petroleum Co., a unit of Hindustan Petroleum Corp., is planning to bid for U.S.-based Devon Energy Corp.'s four oil blocks in Egypt
7:00 PM EST | January 16, 2007
ONGC Inks Deal for Development of Marginal Fields
ONGC has entered into a service contract for development of three offshore marginal fields with the consortium of Prize Petroleum Company Ltd, Hindustan Petroleum Corporation Ltd. and Trenergy.
8:00 PM EST | September 27, 2006
Oilex Consortium Wins Carnarvon Basin Permit
Oilex NL said that it has accepted the offer made by the Commonwealth-Western Australia Offshore Petroleum Joint Authority for the award of permit W05-11 located in the offshore Carnarvon Basin.
8:00 PM EST | August 17, 2006
Oilex Consortium Signs Deal for Block 56 in Oman
An Oilex-led consortium has signed an exploration and production sharing agreement for Block 56 in Oman. Block 56 was the consortium's first choice block and the highest rated of the blocks on offer in the bid round that closed on January 1, 2006.
8:00 PM EST | June 28, 2006
Oilex Expects to Start Drilling on Block 56 in Early 2007
Oilex said it expects drilling to commence on block 56 in Oman during the first half of 2007.
8:00 PM EST | April 11, 2006
M3nergy Wins Contract for Development of Marginal Fields Offshore India
M3nergy and its partners have been awarded a service contract for the development of offshore marginal fields off Mumbai, India (known as Cluster 7) by ONGC.
8:00 PM EST | April 04, 2006
Oilex-Led JV Wins Block 56 in Oman
Oilex NL says that the Government of the Sultanate of Oman has awarded block 56 to the consortium of Oilex and it's Indian partners.
7:00 PM EST | March 30, 2006