Over 100 Dead In Blast At Nigerian Oil Refinery
More than a hundred people have been killed in a blast at an illegal oil refinery in Nigeria. The incident occurred late in the day in Egbema. Collins Ajir, a community leader, has expressed sorrow over the incident, calling the tragic incident "unfortunate." It may be noted that cases of oil theft as well as oil pipeline vandalism are frequently reported across the country.
Tags: explosion, Nigeria, oil field, Oil refinery, blast
Courtesy: Hindustan Times
Cyclone Tauktae: Navy Saves 146 People From Sinking Near Mumbai Coast
As the cyclone Tauktae has wreaked havoc, the Indian Navy on May 17 saved 146 out of 273 people aboard a barge from sinking into the sea near the Mumbai coast. The rescue operation to save the remaining 127 people, who were on life jacket support, is still being carried out. Warships INS Kochi and INS Kolkata executed the operation in collaboration with offshore vessels Greatship Ahlaya and Ocean Energy.
Tags: Cyclone Tauktae, Mumbai, Bombay High Area, oil field
Courtesy: Hindustan Times
ONGC Likely To Lose Exploration Rights Over Oil-block Discovered In Iran
After investing $400 million, India's ONGC Videsh Limited (OVL) may lose the 'oil-exploration rights' over Farzad-B gas-field in Iran. According to unconfirmed sources, National Iranian Oil Co has found a domestic company for the development of the oil-block. Reportedly, after continuous inconclusive negotiations between 2012-2018, nothing was realised due to difficult terms and international-sanctions against Iran. In 2008, OVL discovered… read-more
Tags: Iran, India, ONGC, ONGC Videsh Limited, Farzad-B, oil field, Middle East, Sanctions
Courtesy: Deccan Herald
ONGC Exits From Sudan Due to Payment Issues; Dues of $430 Million Not Paid
Oil and Natural Gas Corporation (ONGC) withdrew from Sudan Oil Fields because of the payment issues. Reportedly, It's international arm, ONGC Videsh Limited (OVL) is yet to receive a pending amount of $430.69 million from the Sudanese Government. An official stated that ONGC failed to recover the amount through diplomatic talks, and initiated separate arbitrations for it. "OVL terminated the Exploration and Production Sharing Agreement (EPSA… read-more
Tags: ONGC, Sudan, OVL, oil field
Courtesy: The Economic Times