The windfall for India has allowed the government to reduce fuel subsidies and raise taxes on petrol and diesel. Officials estimate the moves could add as much as $18 billion to the 2015/2016 national budget. Lower oil prices are also expected to create opportunities for additional subsidy reform, which would contribute to reducing the fiscal deficit from 4.1 percent of GDP for the present fiscal year to an estimated 3.6 percent.
Singapore’s Seatrium has secured a topside integration project for the FPSO Errea Wittu from Offshore Frontier Solutions, a MODEC Group… Read More
The UK's hydrocarbons regulator has awarded 31 new exploration licences in the country's North Sea waters, Reuters reported on Friday Read More
ExxonMobil announced the closing of its USD 60-billion acquisition of Pioneer Natural Resources on Friday, a move that solidifies its… Read More
BP-Eni joint venture Azule Energy has entered a strategic farm-in agreement with Rhino Resources in Namibia's offshore Orange Basin, the… Read More
Africa-focused energy group Chariot has spudded the RZK-1 exploration well on the Gaufrette prospect at the Loukos Onshore licence in… Read More
Touchstone Exploration has acquired Trinidad-focused Trinity Exploration & Production in an all-shares deal, the Canadian upstream player said on Wednesday Read More
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