Japan's Mitsui OSK Lines Ltd (MOL) will supervise the construction of six new very large ethane carriers (VLECs) at Samsung Heavy Industries and subsequently manage these vessels on a long term contract with India's Reliance Industries, according to a press statement today. The ships are targeted to transport liquefied ethane from North America to India and are expected to … [Read more...]
Venezuela to Ship Up to 400,000 Barrels of Crude Per Day to India
CARACAS--Venezuelan state oil monopoly Petroleos de Venezuela, or PdVSA, signed a 15-year crude supply contract with India's Reliance Industries Ltd. (500325.BY) that will send as much as 400,000 barrels a day to the Asian country over the long term. The contract, inked by officials from both countries, will begin with shipments of 300,000 barrels and increase over time, Oil … [Read more...]
BP Looks to Solidify LNG Supply Train to India
LONDON--BP PLC (BP) is exploring options for importing liquefied natural gas to India through its joint venture with Reliance Industries Ltd. (500325.BY), Chief Executive Bob Dudley said Tuesday. BP last year signed a $7.2 billion deal with Reliance to jointly develop oil and gas assets in India, including a technically challenging natural gas block off its east … [Read more...]