L&T Energy Hydrocarbon Offshore Wins ONGC EPCIC Order for Ratna‑I ADR‑I and NLM‑14

L&T Energy Hydrocarbon Offshore (LTEH Offshore) has secured a large offshore order from the Oil & Natural Gas Corporation (ONGC) for the Additional Development of Ratna–I (ADR I) and NLM-14 project off India's west coast.

The project involves engineering, procurement, construction, installation and commissioning (EPCIC) of three new well-head platforms, one riser platform, multiple segments of subsea pipelines and cables, and brownfield modifications to existing offshore installations.

The project is aimed at enhancing production and supporting the continued development of ONGC's offshore assets in the region.

LTEH Offshore is a leading provider of integrated EPCIC solutions for the offshore oil and gas industry. Supported by robust in-house engineering capabilities, world-class fabrication facilities and a dedicated fleet of marine vessels, it has successfully delivered complex shallow-water and deep-water developments across global markets.

Over the past four decades, LTEH Offshore has executed a wide range of projects, including fixed platforms, subsea pipelines and structures, brownfield upgrades, as well as decommissioning assignments.

Commenting on the order win, Parthasarathi Chatterjee, Senior Vice President & Head – L&T Energy Hydrocarbon Offshore, said: “The ADR-I and NLM-14 developments are significant additions to India's offshore energy infrastructure and demonstrate the continued investment in enhancing production from established offshore assets. These projects combine new offshore facilities with brownfield modifications in existing operating fields, calling for careful planning, engineering integration and precise execution. Drawing on our extensive offshore EPCIC experience, we look forward to delivering these developments safely and efficiently, while supporting ONGC’s long-term production objectives”.

Background:

Larsen & Toubro is a USD 32 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing, Products and Services, operating across diverse domains and multiple geographies. With a strong impetus towards AI & technology, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Essar Partners IRH on $500M Crude & Product Supply Facility to Boost Stanlow Refinery Resilience

Essar Group and International Resources Holding (IRH) today announced the successful execution of a USD 500 million crude sourcing facility and product supply facility between Essar Energy Transition Fuels and IRH Global Trading.

IRH, headquartered in Abu Dhabi, UAE, is a global mine-to-market platform that strategically invests in minerals critical to the energy transition and technological advancement. IRH Global Trading is a wholly owned subsidiary of IRH, and a key global energy trading and liquidity provider.

Essar Group is a global conglomerate with over five decades of entrepreneurial experience in conceptualising, investing, building, and operating world-class assets across the energy, infrastructure, metals & mining, technology & retail sectors. Through Essar Energy Transition Fuels, owner and operator of the Stanlow Refinery UK, the Group is investing in low-carbon energy solutions and the decarbonisation of its industrial assets.

The facility enables Essar Energy Transition Fuels to diversify the crude sourcing and marketing options for its products while optimising its working capital arrangement. It also strengthens feedstock security in an increasingly volatile global energy market, enhancing Essar Energy Transition Fuel’s ability to respond to changing market conditions and capture value across its refining and trading activities.

The transaction represents an important step in Essar Energy Transition Fuel’s strategy to forge and strengthen relationships with leading industry players, like IRH Global Trading. The agreement also underscores IRH’s role in enabling secure and efficient energy flows across international markets, while supporting operational optimisation for downstream refining assets.

Prashant Ruia, Chairman of Essar Energy Transition, said

We are delighted to partner with IRH Global Trading on this strategically important transaction for our Stanlow refinery in the UK.

Ali Rashed Al Rashdi, CEO of IRH, said:

We are pleased to partner with Essar Energy Transition Fuels to enhance supply security and operational resilience at a critical UK refining hub.

Honeywell Unveils Next-Gen Optical Gas Sensor for Mining, Oil & Gas, and Petrochemical Industries

Honeywell (NASDAQ: HON) today introduced a new gas sensor that uses optical non-dispersive infrared (NDIR) technology to detect flammable gases, such as methane, propane and butane, in industrial settings. The NDIR Hydrocarbon Gas Sensor helps protect workers and infrastructure in industries such as mining, oil and gas, petrochemical and plastics manufacturing.

“In gas detection, the accuracy, precision and reliability of the sensing solution is crucial for worker safety,” said Carmen Becker, president of Honeywell Sensing Solutions. “Our new flammable gas sensor is an example of how Honeywell is using extensive domain expertise and introducing innovative technology to strengthen operational safety in industries critical to global infrastructure.”

The 4-Series NDIR Hydrocarbon Gas Sensor is designed to integrate into fixed and portable gas detectors carried by workers in the field, deep underground or within a processing facility. It is vital for these detectors to use advanced and accurate sensors that can alert workers to potential exposure to hazardous gases.

Because the NDIR sensor will be exposed to harsh conditions, such as dust in mines, methane leaks or extreme indoor versus outdoor temperature fluctuations, it is designed to be durable and reliable in a wide range of settings. The sensor has an integrated condensation reduction system, allowing it to clear excess moisture and maintain performance in humid environments and confined spaces like refineries.

Unlike traditional pellistor or catalytic bead sensors that can degrade or become “poisoned” in harsh environments, the NDIR sensor has high poisoning resistance, limiting the risk of sensor failure and reducing instances of false positives. With infrared technology, the NDIR sensor is also able to consume less power than traditional flammable gas sensors, extending the operational lifespan and prolonging a portable gas detector’s battery.

For more information on Honeywell’s innovations in sensing, gas detection and safety technologies, visit our website.

From Waste to Resource: Re Sustainability & IOCL Launch India’s 1st Used Oil Circular Economy

(Left) Mr. Masood Mallick and Mr. Bankim Patra (Right)

• Re Sustainability and Indian Oil Join Hands to Create India’s First Integrated Used Oil Circular Economy Ecosystem

Re Sustainability has signed a Memorandum of Understanding (MoU) with Indian Oil Corporation Limited to launch India’s first structured national initiative for the collection and recycling of used lubricating oil. The partnership marks a significant milestone in building a circular ecosystem for lubricant oil management and advancing India’s transition towards a resource-efficient and low-carbon economy.

This pioneering collaboration demonstrates how industry partnerships can accelerate circular resource flows, strengthen environmental governance, and build resilient energy and materials infrastructure for the future. By enabling systematic recovery and re-refining of used lubricants, the initiative will help reduce reliance on virgin crude-derived base oils while conserving natural resources and lowering foreign exchange outflows.

The collaboration will focus on establishing a dedicated Special Purpose Vehicle (SPV) to create a nationwide reverse logistics and collection ecosystem for used lubricating oil. The platform will aggregate used lubricants from industrial and automotive sectors and develop advanced Re-Refined Base Oil (RRBO) refining infrastructure to produce Group I and Group II+ base oils from recovered lubricants in partnership with Re Sustainability and its technology partners.

Mr. Bankim Patra, Country Head (Lubes), Indian Oil Corporation Limited, said: “As India’s largest integrated energy company, Indian Oil is committed to advancing solutions that strengthen both energy security and environmental responsibility. This collaboration reflects our commitment to building sustainable value chains that enable responsible recovery, reuse, and circular utilisation of lubricants. By formalising the collection and recycling of used oil, we are supporting a more resource-efficient and sustainable energy ecosystem for India.”

Under the collaboration, recovered oil will be processed to produce Re-Refined Base Oil (RRBO) which can be reintroduced into lubricant manufacturing value chains. This circular approach significantly reduces dependence on virgin crude-derived base oils while strengthening material efficiency across the lubricants sector.

Speaking on the collaboration, Mr. Masood Mallick, Managing Director & Group CEO, Re Sustainability Limited, said: “India’s journey towards a circular economy requires large-scale systems that can recover value from complex waste streams and reintegrate them into productive use. Our partnership with Indian Oil marks a transformative step towards institutionalising structured oil recycling in India. By building an integrated ecosystem for used lubricant recovery and re-refining, we are enabling the transition from waste management to resource recovery while strengthening India’s environmental infrastructure and circular economy.”

The MoU is signed, with a targeted annual collection of 100 KTA (kilotonnes per annum) of used lubricating oil supported by a structured nationwide network of aggregation, logistics, and traceability systems.

As part of the initiative, the partners will establish a state-of-the-art re-refining facility at mutually agreed locations. The project will include both the development of new infrastructure and the upgrade of existing facilities designed to process used lubricating oil and convert it into Group II Re-Refined Base Oil (RRBO) meeting Bureau of Indian Standards (BIS) and international specifications.

The facility is expected to have a processing capacity of 50–100 KTA and is targeted to be commissioned within the next three years, forming the foundation for a scalable oil recovery and circular recycling ecosystem under the partnership.

The initiative will also include recovery and recycling of plastic lubricant containers, aligned with Extended Producer Responsibility (EPR) requirements under India’s environmental regulations, thereby strengthening compliance and enabling responsible lifecycle management of lubricant packaging.

India currently generates approximately 1.3 million tonnes of used lubricating oil annually, of which only around 0.2 million tonnes is recovered through formal recycling channels. This initiative aims to significantly expand formal recovery infrastructure, unlock the resource value of used lubricants, and accelerate India’s transition toward a circular, resource-efficient, and sustainable lubricant economy.

Re Sustainability Limited (ReSL), a KKR-backed company, is one of Asia’s largest and most diversified providers of integrated environmental and sustainability solutions. The company operates across 100+ sites in India, Singapore, UAE, Saudi Arabia, Qatar, Oman, Kuwait, Tanzania, and the USA. With a 22,000+ strong workforce and over three decades of leadership in waste management, resource recovery, and sustainability infrastructure, ReSL is driving the transition toward a low-carbon, circular economy.

For more information, visit: resustainability.com

Indian Oil Corporation Limited (IndianOil) is India’s largest integrated energy company and a Maharatna public sector enterprise under the Ministry of Petroleum and Natural Gas, Government of India. Headquartered in New Delhi, the company operates across the entire hydrocarbon value chain including refining, pipeline transportation, marketing of petroleum products, petrochemicals, natural gas, and exploration and production.

IndianOil owns and operates one of the country’s largest refining capacities and an extensive network of pipelines, terminals, depots, and fuel stations that serve millions of consumers across India. The company plays a vital role in ensuring India’s energy security and supporting economic growth.

Ranked among the Fortune Global 500 companies, IndianOil is also advancing investments in cleaner fuels, renewable energy, and emerging technologies as part of its transition towards a more sustainable and diversified energy future.

GPS Renewables and CSIR-NCL Launch NG SAF: An Indigenous Ethanol-to-SAF Technology

GPS Renewables, one of the leading global full-stack, renewable oil & gas companies offering technology and project solutions for climate-positive biofuel projects, has partnered with Council of Scientific and Industrial Research – National Chemical Laboratory (CSIR-NCL) to develop a first-of-a-kind commercial-scale production of Sustainable Aviation Fuel (SAF) from ethanol. The same technology can be used to produce SAF from methanol as well.

As part of the partnership, GPS Renewables will invest in developing technology based on a patented catalyst from CSIR-NCL. The technology will enable one-step oligomerization of ethylene and other olefins – a process where small molecules are joined together to form larger molecules that emulate Aviation Turbine Fuel. Multiple players have demonstrated the Ethanol-to-Jet Fuel process at lab scale, but commercial-scale production has remained elusive.

With a license to the CSIR-NCL technology, GPS will engineer a commercial-scale plant under the project brand NG SAF. This partnership aims to demonstrate the first commercial-scale Ethanol-To-Jet plant. GPS Renewables holds the exclusive rights to commercialize this technology.

Currently, SAF is produced on a commercial scale primarily through the HEFA pathway (Hydroprocessed Esters and Fatty Acids), which uses feedstocks like Used Cooking Oil (UCO) or animal fats. In India, large-scale HEFA production is not a feasible solution due to the lack of an organized UCO collection system and FSSAI restrictions on importing UCO. These feedstock challenges make it difficult to scale SAF production through the HEFA route in India, thereby highlighting the need for an alternative, home-grown technology that can boost SAF production. Ethanol from 2G biomass is expected to be a key product of the Indian agri-biomass ecosystem, and this will be the feedstock for the CSIR-NCL-GPS SAF production.

Commenting on the collaboration, Gomatam Ravi, CTO, GPS Renewables, said, “We are thrilled to partner with CSIR-NCL to build an indigenous and breakthrough SAF technology that can position India as a leader in SAF production. At GPS, we have always prioritized technology that can fast-track India’s transition to clean energy, and this collaboration reflects that commitment. While many have demonstrated the process at lab scale, none have succeeded in producing SAF from Ethanol at an industrial scale. With NG SAF, we aim to change that. We are confident that with our expertise in scaling cleantech solutions and CSIR-NCL’s scientific backing, we can deliver an indigenous and industrially viable SAF solution to the world.”

Dr. Ashish Lele, Director, CSIR-National Chemical Laboratory, said, “One of our core strengths at CSIR-NCL lies in working closely with industry leaders to transform disruptive ideas into commercially deployable solutions. Scientific research, when coupled with industry collaboration, can create promising solutions to address global challenges. This indigenous technology, named NG SAF, based on CSIR-NCL’s patented oligomerization process, can be a game-changer to decarbonize the aviation sector. GPS Renewables’ proven track record and extensive experience in clean fuels make them an ideal partner to take this innovation from the lab to the market.”

Mainak Chakraborty, Co-Founder and CEO, GPS Renewables, highlighted the importance of the team behind the program, saying “The technical advisory team to the NG SAF project is a thing of dreams, including Dr. Anjan Ray, (Former Director UOP and Former Director of Indian Institute of Petroleum), Dr. Arvind Lali, (Retired Professor from ICT Mumbai), Dr. Ashish Lele, (Director NCL), Gomatam Ravi, (Former Head of Shell Technology Center), Dr. Samir Chikkali (Humboldt Fellow and Faculty at NCL), and several others. GPSR has an engineering team of 120 people, adding up decades of experience from the likes of Petrofac, Petronas, Technip, Toyo, McDermott, Lauren USA, L&T, and other industry leaders, all of whom have come together to make NG SAF a reality.”

About GPSR (GPS Renewables) Group

Headquartered in Bengaluru, GPS Renewables (“GPSR”) is the world’s largest full-stack, renewable oil & gas company offering technology and project solutions for climate-positive biofuel projects. Starting from captive biogas plants, GPSR has scaled up to set up some of the world’s largest RNG plants. In 2022, GPS Renewables launched GPSR Arya Pvt Ltd (“ARYA”), a wholly-owned subsidiary, to commission BOO (Build-Own-Operate) projects, augmenting its climate impact ambitions.

GPSR has formed joint ventures with Indian Oil, Bharat Petroleum, and Oil India to build compressed biogas (CBG) plants across India. These plants will process agricultural and organic waste, reduce carbon emissions, and support the government’s SATAT initiative.

https://gpsrenewables.com/

About CSIR- NCL

National Chemical Laboratory (CSIR-NCL), Pune, established in 1950, is a constituent laboratory of Council of Scientific and Industrial Research (CSIR). CSIR-NCL is a science and knowledge-based research, development, and consulting organization. It is internationally known for its excellence in scientific research in chemistry and chemical engineering, as well as for its outstanding track record of industrial research involving partnerships with industry from concept to commercialization.

https://www.ncl-india.org/

Sanctions for All—Except Big Oil?, ExxonMobil’s Russia Move Exposes U.S. Double Standards

After its 2022 exit from Russia following the Ukraine invasion, the largest US energy company, ExxonMobil, is now reportedly exploring a return to the Sakhalin-1 oil and gas project. The company has held discreet talks with Rosneft, Russia’s state energy giant, and is seeking support from the U.S. government to re-enter the market. This comes after Moscow blocked Exxon’s attempt to sell its stake and effectively wiped out its $4 billion investment.

According to an exclusive Wall Street Journal report, ExxonMobil’s Senior Vice President Neil Chapman has held confidential negotiations with Rosneft CEO Igor Sechin—despite Sechin being under U.S. sanctions. The talks, reportedly held in Doha, center on Exxon’s potential return to the Sakhalin-1 oil and gas project, which it exited in 2022 after Russia’s invasion of Ukraine.

The Exxon reentry hinges on a broader diplomatic thaw: both Washington and Moscow would need to approve the move as part of a potential peace process in Ukraine. This adds a layer of strategic complexity—Exxon’s return could be framed not just as economic recovery, but as a geopolitical olive branch.

The Political Undercurrent

The timing is striking. These developments surfaced shortly after a summit in Alaska between Donald Trump and Vladimir Putin, where both leaders expressed openness to renewed business ties. A Russian decree now allows foreign companies to regain ownership in Sakhalin-1, provided they meet certain conditions—like supplying equipment and advocating for sanctions relief.

Double Standards? Many Think So

While India faces steep tariffs for importing Russian oil, the U.S. appears to be quietly facilitating its own energy giant’s re-entry into the Russian market. Critics argue this reflects a selective application of sanctions and a willingness to bend principles when strategic interests are at stake.

India’s Unequal Treatment

Meanwhile, India continues to face tariffs and scrutiny for importing Russian oil, despite its purchases being transparent and essential for domestic energy needs. The contrast is stark: while India is penalized, the largest U.S. energy company is quietly negotiating a comeback under the guise of diplomacy.

This isn’t just about oil—it’s about who gets to bend the rules. ExxonMobil’s potential return, facilitated by U.S. Treasury licenses and quiet political support, exposes a selective enforcement of sanctions that many in the Global South have long criticized.

ONGC-led JV Resumes Production from Offshore PY-3 Field in Cauvery Basin

A Joint Venture of Oil and Natural Gas Corporation Limited (ONGC), Hardy Exploration & Production (India) Inc., and Invenire Petrodyne Limited has successfully commenced production from the PY-3 Field, located offshore in the Cauvery Basin on the east coast of India.

Originally brought on-stream in 1997, the PY-3 Field had been shut since July 2011. Since then, a multi-phase revised Field Development Plan (FDP) has been implemented to revive production.

Phase I of the revised FDP has now been completed. This included integrity assessment, conditioning, and activation of the subsea well PD3SA; installation of subsea infrastructure; and hook-up to the Floating Production, Storage, and Offloading (FPSO) vessel Svetah Venetia. The FPSO is being used to process and separate oil, gas, and water. The produced oil is stored on the FPSO and offloaded to shuttle tankers for transport to refineries.

Phase II of the FDP will involve the drilling of additional wells and the application of enhanced oil recovery (EOR) techniques to boost output from this prolific field, which yields light, sweet crude oil.

Hardy Exploration & Production (India) Inc., a company of the Invenire Energy Group, is the operator of the block with an effective 22.79% participating interest. ONGC holds a 50.63% effective participating interest, and Invenire Petrodyne Ltd. holds the remaining 26.58%.

In a joint statement, Mr. Manish Maheshwari, Chairman, Invenire Energy, and Mr. Arunangshu Sarkar, Director (Strategy & Corporate Affairs), ONGC, expressed their appreciation to the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Hydrocarbons (DGH) for their support, guidance, and unwavering encouragement, which were instrumental in achieving this milestone. Mr. Maheshwari added that this marks a significant step in Invenire’s operational journey and reaffirms the JV’s commitment to contributing to India’s energy security.

About the JV Partners

ONGC

ONGC has discovered seven of India’s eight producing basins and holds the largest exploration acreage and mining license portfolio in the country. It has consistently maintained a Reserve Replenishment Ratio (2P) above one for the past decade and accounts for 63% of India’s oil and natural gas production. ONGC also oversees seven non-operated joint ventures, including RJ ON 90/1 and PY-3 fields.

Hardy Exploration & Production (India) Inc. (HEPI)

HEPI, a group company of Invenire Energy, first brought the PY-3 Field into production in 1997 using floating production facilities and subsea wellhead completions—an industry first in India. The recommencement of production after a 14-year shut-in marks yet another pioneering achievement.

Invenire Petrodyne Limited (IPL)

Formerly Tata Petrodyne Limited, IPL is the flagship company of Invenire Energy Group, with seven upstream oil and gas assets either in production or under development in India and Indonesia.

India’s First-Ever Offshore Oil Cleanup: A Big Step for Energy Safety

India has completed its first-ever offshore decommissioning project in the Tapti fields, marking a major milestone for the country's energy sector. The Panna-Mukta and Tapti (PMT) joint venture, consisting of Shell (BGEPIL), Reliance Industries, and ONGC, successfully executed the removal of offshore structures, infield pipelines, and the plugging and abandonment of 38 wells.

Offshore decommissioning is the process of safely dismantling and removing oil and gas infrastructure from the ocean once it reaches the end of its operational life. This includes plugging wells, removing platforms, pipelines, and other equipment, and restoring the seabed to minimize environmental impact.

The process is complex and requires careful planning, engineering expertise, and regulatory oversight to ensure safety and sustainability

This project in Tapti fields sets a benchmark for responsible decommissioning, aligning with India's "Make in India" vision while enhancing local capabilities.

The PMT JV, operator of the Tapti fields under a production sharing contract with the Government of India, comprises of ONGC with a 40% participating interest, and RIL and BG Exploration & Production India Ltd (BGEPIL-Shell) with 30% each.

Larsen & Toubro (L&T) handled offshore execution, while Chowgule Shipyard (CLSPL) managed onshore dismantling at its Ratnagiri facility.

The initiative also played a pioneering role in shaping India's regulatory framework for offshore decommissioning, developed in collaboration with the Ministry of Petroleum and Natural Gas (MoPNG), Directorate General of Hydrocarbons (DGH), and Oil Industry Safety Directorate (OISD).

Nipun Pradhan, Managing Director, BGEPIL and GM Shell Upstream India, said, “The safe and successful completion of the Tapti offshore project is a landmark moment for India’s offshore energy sector. This project sets a new benchmark for responsible decommissioning, made possible by global expertise, strong collaboration, and an unwavering commitment to safety and sustainability. Shell is proud to be part of this historic journey alongside our partners Reliance, ONGC, and the Government of India.”

“The safe and responsible offshore decommissioning by the PMT JV marks a significant step forward for India’s energy sector. From the outset, the JV partners worked tirelessly to strengthen local supply chains and enhance the technical and safety capabilities of Indian contractors especially for offshore dismantling activities. This project has successfully delivered on the Indian Government’s ambition of ‘Make and Break in India’,” said Sanjay Barman Roy, President, E&P, Reliance Industries Limited.

Pankaj Kumar, Director (Production), ONGC, remarked, “This first-of-its-kind large-scale offshore decommissioning underscores ONGC’s commitment to responsible energy practices. The project’s complexity, especially its proximity to ONGC’s live assets demanded strategic planning, precise execution, and utmost focus on safety. It marks a defining moment in India’s energy landscape and sets a strong foundation for the next chapter in offshore infrastructure transformation.”

ONGC Selects BP Subsidiary as TSP for Enhancing Production from Mumbai High Field

The Oil and Natural Gas Corporation (ONGC) has announced that it has selected BP Exploration (Alpha) Ltd, a wholly-owned step-down subsidiary of BP Plc, as the Technical Service Provider (TSP) for its Mumbai High Field. This partnership aims to enhance production from one of India's largest oil and gas fields.

The Mumbai High Field has played a crucial role in India's energy sector, contributing significantly to the country's domestic oil production.

As of 2024, the field produces around 134,000 barrels of oil per day and 10 million cubic meters of gas per day. The field reached its peak production level of 20 million tonnes per year in 1998.

Key Points:

Objective: The TSP will review the field performance and identify improvements in reservoirs, facilities, and wells to boost production.

Role as TSP: BP Exploration (Alpha) Ltd will review the field performance and identify improvements in reservoirs, facilities, and wells to boost production.

Expected Increase: BP has indicated a substantial increase in oil and oil-equivalent gas production (up to 60%) from baseline production levels over a 10-year contract period. The partnership aims to increase crude oil production by 44% and gas output by 89% over a ten-year contract period.

Historical Context: The Mumbai High Field was discovered by ONGC in 1974 and started production in 1976.

Revenue Boost: The incremental production is expected to generate additional oil and gas revenue of up to $10.3 billion and contribute $5 billion to the government exchequer through royalties, cess, and other levies.

This collaboration is expected to significantly enhance India's domestic production and support the country's energy needs.

BP's India unit is a significant player in the country's energy sector, focusing on various aspects of the energy value chain. BP operates in the upstream sector, focusing on natural gas production.

BP operates in the upstream sector, focusing on natural gas production. The company aims to expand its retail network to 5,500 outlets by 2025 through its joint venture with RIL.

Besides, BP has also partnered with Lightsource to develop renewable energy projects in India, including the 60 MW solar farm at Wagdari, Maharashtra.

Italian Oil Giant Switches On €100 Mn Supercomputer to Find New Sources of Oil and Gas

On the day of Christmas this year, Italian energy giant Eni has switched-on its HPC6 supercomputer, which is one of the most powerful in the world. This supercomputer  with over €100 million investment, significantly boosts Eni's computational capacity, enhancing their ability to explore and develop oil and gas reservoirs.

Supercomputers process seismic data to create detailed images of the subsurface. This helps identify potential oil and gas reservoirs. Supercomputer like Eni's HPC6 system simulate how oil and gas reservoirs behave over time, helping to optimize extraction methods and improve recovery rates.

The HPC6 system is designed with advanced energy efficiency standards and a new liquid cooling system, making it both powerful and sustainable.

Eni's HPC6 supercomputer is housed in their Green Data Center located in Ferrera Erbognone, a small town in the province of Pavia, Italy. This facility is known for its advanced energy efficiency and sustainability features, including a liquid cooling system that dissipates 96% of the heat generated by the supercomputer.

Completed & Launched in November this year, Eni's HPC6 supercomputer has made an impressive debut by ranking fifth on the TOP500 list. This list ranks the world's most powerful supercomputers, and HPC6's performance is remarkable, achieving a peak computational power of 606 PFlop/s (over 600 quadrillion mathematical operations per second.

It's also noteworthy that HPC6 is the first industrial-use supercomputer to make it into the top 5, and it's the only non-US system among the top 5.

Supercomputers use advanced algorithms to predict the location of untapped resources, reducing the risk and cost of exploration. Such supercomputers monitor environmental impacts and help develop more sustainable extraction methods.

By leveraging these powerful computational tools, companies can explore more efficiently and responsibly. It's a fascinating intersection of technology and natural resource management.

Several companies in the oil and gas industry are leveraging supercomputers for exploration and extraction. In August 2020, Total's Pangea III supercomputer, one of the most powerful in the industry, provided immense computational power for seismic imaging and reservoir simulation.

UK oil company BP uses supercomputers for seismic data processing and reservoir modeling to enhance exploration and production efficiency.

American energy corporation Chevron employs high-performance computing for various tasks, including seismic imaging and reservoir management.

Leading technology provider for the oil and gas industry, Schlumberger, which is known for its technological innovations, uses supercomputers for advanced reservoir characterization and simulation.

ONGC Results FY'24 – Posted Its Highest Ever Standalone Net Profit of 40,526 Crore and Declared Highest Ever Dividend

ONGC has recently reported remarkable financial outcomes for FY'24. The company has achieved highest-ever standalone net profit of ₹40,526 crore and consolidated net profit of ₹57,101 crore for FY'24 demonstrate their financial strength. The company's crude production also saw an increase of 2.4% in Q4 of FY'24. 

The Company registered a Profit After Tax (PAT) of Rs. 639 crore in FY'24, as against Rs. 1660 crore in FY'23 mainly due to higher impairment. The Board of Directors of the Company has recommended final dividend of Rs. 0.50 per share on fully paid equity share par value of Rs. 100 each, subject to approval by the shareholders. The total dividend amounts to Rs. 75 crore.

• Standalone net profit: ONGC declared a record standalone net profit of ₹40,526 crore.
• Consolidated net profit: The company also reported its highest ever consolidated net profit at ₹57,101 crore.
• Total dividend: The total dividend for FY'24 would be 245% (Rs 12.25 per share of face value Rs 5 each) with a total payout of Rs 15,411 crore. This includes interim dividend of 195% (Rs 9.75 per share) already paid during the year and final dividend of 50% (Rs 2.50 per share) recommended by the Board.
  
• Crude production: There was a 2.4% increase in crude oil production in Q4 FY'24 compared to the same quarter in the previous year.

ONGC has expanded its footprint beyond India. Their global presence allows them to explore and tap into hydrocarbon reserves in various regions, contributing to their overall. ONGC's overseas arm, ONGC Videsh Ltd. registered production of oil and gas of 10.518 MMTOE in FY'24, as compared to 10.171 MMTOE in FY'23 which is 3.4% incremental growth compared to the previous year. This positive performance was driven by strong contributions from five operated/ jointly operated assets, namely MECL & CPO-5 in Colombia, GPOC & SPOC in South Sudan, and Sancristobal in Venezuela despite natural decline, geopolitical tensions, and local issues.

These figures reflect ONGC's strong financial performance and growth in the oil and gas sector. The increase in crude production is particularly notable as it contributes to the company's profitability and indicates a positive outlook for future production capabilities.

ONGC plays a vital role in the energy sector, contributing to approximately 70% of India's domestic production and fulfilling around 60% of the country's total energy requirements.

Moreover, ONGC boasts a skilled and experienced workforce. Their technical expertise and dedication drive the company's exploration, production, and refining activities.

In summary, ONGC's success can be attributed to a combination of market leadership, skilled workforce, global reach, financial stability, innovation, and a visionary approach.

L&T Manufactures One of the World’s Heaviest Hydrotreating Reactor for Mexican Refinery Giant

The Antonio Dovali Jaime Refinery is best known for its significant role in Mexico's oil refining capacity. It has recently gained attention for the installation of one of the world's heaviest hydrotreating reactors, weighing 1,751 metric tons.

This reactor, manufactured by Larsen & Toubro's Heavy Engineering division, is equipped with advanced Cr-Mo-V metallurgy and is based on technology developed by Axens.

The hydrotreating process is crucial for removing impurities such as nitrogen and sulphur compounds from hydrocarbon streams, which is essential for producing cleaner fuel products. The refinery's commitment to incorporating cutting-edge technology and improving environmental standards makes it a notable player in the global refining industry.

L&T's Heavy Engineering vertical has manufactured a mammoth Hydrotreating Reactor for the Antonio Dovali Jaime Refinery at Salina Cruz in Mexico.
At 1,751 MT, it is one of the heaviest reactors in the world.https://t.co/zMDY7UHBw1#LarsenToubroNews pic.twitter.com/qruuS0hTt7

— Larsen & Toubro (@larsentoubro) April 23, 2024

The mammoth reactor has been manufactured by Larsen & Toubro’s (L&T) Heavy Engineering vertical. The mammoth reactor was despatched for Mexico from A M Naik Heavy Engineering Complex at Hazira in Gujarat. It has been manufactured at the Hazira Complex in a record 15 months by leveraging high-tech engineering, Industry 4.0 manufacturing and world-class quality processes.

The reactor uses hydrotreating process, which is a catalytic conversion in petroleum refining, among others, for removing impurities such as nitrogen and sulphur compounds from hydrocarbon streams.

Commenting on the occasion, Mr Anil V Parab, Whole-time Director & Sr Executive Vice President – L&T Heavy Engineering & L&T Valves, thanked the customer for their unwavering trust in L&T, with award of back-to-back orders for critical equipment and congratulated the Heavy Engineering team for manufacturing such complex reactor in a record time, as fast-track delivery was the essence.

Larsen & Toubro is a USD 23 billion Indian multinational engaged in EPC Projects, Hi-Tech Manufacturing and Services. It operates in over 50 countries worldwide. A strong, customer–focused approach and the constant quest for top-class quality have enabled L&T to attain and sustain leadership in its major lines of business for eight decades.

Adani Total Gas and Shigan Ink MoU To Develop Alternative Fuel Retrofitment and Other Supply Chain Decarb Solutions

Adani Total Gas, Shigan sign MoU for

collaboration in decarbonization

• Will explore retrofitting ICE engines to run on alternate fuels like CNG & LNG
• Primary focus of retrofitment solution will transportation and mining applications
• Partners to also explore other applications like stationary engines, locomotives, and marine equipment
• Will contribute to development of ecosystem by bringing together key stakeholders
• Will explore e-mobility based solutions for last mile delivery players

In a move towards sustainability and environmental responsibility, Adani Total Gas Limited (ATGL), India’s leading energy and city gas distribution company, and Shigan Quantum Technologies Limited (Shigan), an alternative fuel system solutions provider for automotive, locomotive and stationary engine applications, today announced the signing of a Memorandum of Understanding (MoU) that aims at decarbonizing the supply chain by creating an ecosystem which will enable transitioning to cleaner fuels such as CNG and LNG. Under the MoU, both ATGL and Shigan will explore various areas of collaboration.

Shigan manufactures alternative fuel system solutions for automotive OEMs (original equipment manufacturers) and aftermarket. The primary focus of both the partners will be on adopting natural gas for transportation and mining applications through sustainable solutions for fleet operators, including those deployed by Adani Group companies in sectors like cement, ports and logistics. The LNG retrofitment solution also will explore various applications like stationary engines, locomotives and marine equipment.

Besides developing CNG/LNG-based retrofitment solutions, the partnership will explore developing e-mobility based solutions for last mile delivery players and use cases for green hydrogen as fuel for ICE (internal combustion engine) vehicles.

ATGL and Shigan are confident that the collaboration will have a positive impact on the environment and the broader business community. The MoU will enable both parties to prioritise their sustainability efforts without compromising on operational efficiency.

Mr Suresh P. Manglani, Executive Director and CEO, ATGL, said, “The signing of the MoU represents a collective vision for a greener, more sustainable future. We look forward to co-developing end-to-end solutions, which will support the transport and mining industries in their decarbonization journey and contribute to the net zero commitments of the country.”

Mr. Shishir Agrawal, Managing Director, Shigan, expressed enthusiasm about the collaboration, stating, “This MoU marks a significant step forward in our joint commitment to environmental responsibility. By transitioning to cleaner fuels, we aim to not only reduce our carbon footprint but also inspire positive change within industry."

About Adani Total Gas Limited

Adani Total Gas Limited is in the business of development of city gas distribution (CGD) networks for continuous supply of piped natural gas (PNG) and compressed natural gas (CNG). These networks provide natural gas as a convenient, economical, reliable, and environmentally friendly fuel option, offering consumers safety and convenience.

ATGL is co-promoted by the Adani Group and TotalEnergies. It has a presence across 33 Geographical Areas and plays a significant role in the nation’s efforts to enhance the share of natural gas in its energy mix. Further, ATGL has a joint venture with Indian Oil Corporation, which is also in the business of city gas distribution and has a presence across 19 geographical areas. With these 52 Geographical Areas, ATGL is one of the largest CGD companies in India. Further, with a consumer centricity approach, ATGL entered into the e-mobility and biomass businesses and incorporated two wholly owned subsidiaries – Adani TotalEnergies E-mobility Limited (ATEL) and Adani TotalEnergies Biomass Limited (ATBL). These new businesses will provide a choice of fuels to consumers. ATGL has also formed a 50:50 joint venture, namely Smart Meter Technologies Private Limited, for its gas meter manufacturing business. ATGL is planning to set up liquified natural gas (LNG) dispensing stations to cater to medium and heavy-duty transportation consumers.

For more information, please visit https://www.adanigas.com/

About Shigan Quantum Technologies Limited

Established in 2008, Shigan Quantum Technologies Limited is engaged in the business of designing, developing and manufacturing of various types of alternate fuel systems including CNG, LNG, Hydrogen Fuel Kit systems for automotive, locomotive, stationary engine applications, heavy duty vehicles, light duty vehicles and off-highway applications. Shigan is the only company in India, who has completely indigenized BS-VI + OBD-II CNG fuel system, to provide advanced technology at Indian price, for Indian Automotive OE customers.

In addition to being alternative fuel system solution providers, Shigan has diversified into automatic fire detection and suppression system (FDSS) and FAS/FPS for automotive application and have indigenized the complete FDSS, FAS & FPS and commenced production for supplies to OEMs.

For more information, please visit, https://www.shigan-quantum.com/

In A Rare, Indian Oil Corporation Acquires Mercator Petroleum for ₹148 Crores

In a rare takeover by a government undertaking under the Insolvency and Bankruptcy Code, Indian Oil Corporation (IOC) has acquired Mercator Petroleum for about Rs 148 crore. The company gave this information to the stock market. IOC reported that Mumbai bench of National Company Law Tribunal (NCLT) approved IOC's solvency plan for acquisition of 100% stake in Mercator Petroleum Limited (MPL).

MPL has terrestrial oil and gas search blocks in the Gulf of Khambhat, Gujarati Block CB-ONN- 2005/9 was won by the company in 2008 in the 7th NELP BID. It is likely to have 4.55 crore barrels of oil reserves. The block is located about 60 kilometers from the Koyali refinery block of IOC.

The insolvency proceedings for Mercator Petroleum were initiated by Cayman Island-based oil services company Halliburton Offshore Services Inc. in August 2021 after Mercator defaulted on payment of Rs 2.87 crore. Notably, the laws of the Cayman Islands provide protection for the privacy of the investors. They are not obliged to disclose the information of directors, officers and shareholders. The islands' laws also not required to submit financial records. 

UTI Capital and Bank of Baroda are financial creditors of Mercator Petroleum, holding 41.2% and 58.8%, respectively. According to the approved plan, the Bank of Baroda would receive 60% of the upfront payment due to its superior security.

The resolution plan offers Rs 5.40 crore to operational creditors—vendors, workmen, employees and statutory dues—against their total admitted claims of Rs 73 crore.

Additionally, IOC will bear insolvency proceeding cost of Rs 8.7 crore.

IOC is the second PSU to have acquired a company in an solvency proceeding. In March this year, India's largest gas firm GAIL acquired insolvent private-sector chemical company JBF Petrochemicals for Rs 2,079 crore.

Mercator Petroleum Ltd. was a wholly-owned subsidiary of Mercator Ltd., which was the second largest private sector shipping company in India.

Incorporated in 1983 and based out of Mumbai, Mercator was once counted among the highest wealth creators in the Indian stock exchanges between 2000 -2010. It was only the second Indian company to list its Singapore subsidiary on the Singapore Stock Exchange in Singapore in 2007.