- Algeria allocates $3.5 billion to support exploration and to increase the size of hydrocarbon reserves
- Qatar Energy to add another 2 gigawatts to its installed solar capacity
- Indian Oil Corporation signs second agreement with Ruwais LNG
- The Iraqi government is unable to reduce production from Iraqi Kurdistan to be in line with OPEC+ decisions
- Saudi Arabia's oil export revenues to fall in 2024 due to repeated voluntary production cuts
- ASRY Awarded 2024 RoSPA Gold Medal in Health and Safety
- BP ponders shifting focus away from renewables, say sources
- QatarEnergy enters 10-year naphtha supply agreement with Japan’s ENEOS Corporation
- The International Energy Agency expects oil demand growth to slow in 2024
- The International Monetary Fund re-selects Kristalina Georgieva as its director
Indian Oil Corporation signs second agreement with Ruwais LNG
Indian Oil has signed an agreement with Ruwais LNG to supply 1 million tons per annum (mtpa) of LNG from its 9.6 mtpa plant under development in Ruwais. The new LNG plant is scheduled to come on stream in 2028.
Under the 15-year agreement, 1 mtpa of LNG will be shipped to the Oil’s ports in India.
Last year, the two companies, ADNOC and Indian Oil, signed a 1.2 mtpa deal to supply LNG from ADNOC’s 5.8 mtpa Das Island facility, meaning ADNOC will deliver around 2.2 mtpa to the Indian company, making Indian Oil the UAE company’s largest customer of LNG.
“India is an important strategic partner for the UAE and this agreement underscores ADNOC’s commitment to providing secure, low-carbon energy to support the country’s energy security,” said Rashid Khalfan Al Mazrouei, Chief Marketing Officer at ADNOC.
