Hindustan Petroleum Company News

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Investors Eye $6.5B India Refiner Privatization
Friday, July 31, 2020The planned $6.5 billion sale of the Indian government's stake in Bharat Petroleum has lured several global oil majors.

India Refiner HPCL Sees More Scope For Foreign Buys After ONGC Deal
Thursday, July 20, 2017Hindustan 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.

India Approves Creation of State Oil Giant in $4.6 Billion Deal
Wednesday, July 19, 2017India 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.

Iraq Undercuts Saudi Arabia In Q2 To Grab Top Spot In India Oil Market
Tuesday, July 19, 2016Iraq 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.

Battle of Three Oil Benchmarks Upending Crude Flows Across Globe
Friday, February 05, 2016The 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.

AWE Completes Partial Sale of Stakes in 2 Bass Basin Permits to HPCL
Wednesday, November 05, 2014AWE 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.

HPCL's Unit Acquires Stakes in 2 Bass Basin Permits from AWE for $74M
Tuesday, January 28, 2014AWE 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.

India Cbank Opens Forex Swap Window for State Oil Retailers
Wednesday, August 28, 2013The 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.

Oilex Prepares Al Jumd Testing Program in Block 56
Wednesday, February 25, 2009Oilex 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.

Oilex Completes Drilling in Oman's Block 56 with Encouraging Results
Wednesday, January 14, 2009Oilex'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.

India Consortia Bag 3 Oil Exploration Blocks in Egypt
Friday, November 07, 2008Two consortia of Indian companies led by state-run Gujarat State Petroleum Corp. have been awarded three offshore oil exploration blocks in Egypt.

Oilex Drills Extra 200 Meters of Horizontal Oil Pay at Oman's Sarha-2
Monday, October 13, 2008The 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.

Oilex Continues Drilling, Testing at Sarha, Cambay Wells
Tuesday, September 23, 2008Oilex 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.

Oilex Resumes Drilling Ops in Oman, Continues Development in India
Tuesday, September 09, 2008Oilex 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

Sasol Nabs 30% Interest from JV's Exploration Permit Offshore Australia
Tuesday, August 12, 2008Oilex 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.

Oilex's India, Oman Operations on Schedule
Tuesday, April 29, 2008Oilex advises that the Cambay-23Z well has been completed as a potential gas production well.

India to Issue $2.3 Billion in Bonds to Oil Companies
Friday, March 28, 2008India'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.

Oilex Discovers Oil Shows with Oman Drilling
Tuesday, January 22, 2008Drilling 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.

Oilex Hits Oil and Gas at Sarha-1 in Oman
Tuesday, January 15, 2008The 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.

India's State-Run Oil Co Execs to Strike from Tuesday
Monday, August 20, 2007Executives 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.

GeoGlobal Signs Four PSCs for Onshore India Blocks
Wednesday, March 07, 2007GeoGlobal Resources Inc. has signed production sharing contracts (PSCs) on its four previously awarded exploration blocks in India.

Prize Petroleum Eyes Devon's Egypt Oil Blocks
Wednesday, January 17, 2007Indian 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

ONGC Inks Deal for Development of Marginal Fields
Thursday, September 28, 2006ONGC 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.

Oilex Consortium Wins Carnarvon Basin Permit
Friday, August 18, 2006Oilex 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.

Oilex Consortium Signs Deal for Block 56 in Oman
Thursday, June 29, 2006An 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.

Oilex Expects to Start Drilling on Block 56 in Early 2007
Wednesday, April 12, 2006Oilex said it expects drilling to commence on block 56 in Oman during the first half of 2007.

M3nergy Wins Contract for Development of Marginal Fields Offshore India
Wednesday, April 05, 2006M3nergy 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.

Oilex-Led JV Wins Block 56 in Oman
Friday, March 31, 2006Oilex NL says that the Government of the Sultanate of Oman has awarded block 56 to the consortium of Oilex and it's Indian partners.