Hardeep Singh Puri & BP

Hardeep Singh Puri: Hardeep Singh Puri, the Minister of Petroleum and Natural Gas, was present at the signing of the technical services contract, indicating government support for the collaboration between ONGC and BP to boost hydrocarbon production.

BP: BP has expanded its technical services partnership with ONGC, securing a contract to enhance hydrocarbon production in India's Western Offshore Basin. This agreement will provide BP with a fixed fee for two years, followed by a service fee linked to incremental production revenue, positively impacting its revenue and market position in India.

Hardeep Singh Puri: Hardeep Singh Puri>>>, the Union Petroleum Minister, acknowledged the significant under-recoveries faced by oil companies due to high international crude prices.

BP: BP>>> is a partner in Reliance Industries — Jio-bp>>>, a fuel retailing joint venture that has adjusted its prices in line with state-owned companies.

Hardeep Singh Puri: Hardeep Singh Puri, the Union Petroleum and Natural Gas Minister, announced the discovery and highlighted its importance for India's energy security and exploration goals, reinforcing the government's commitment to domestic hydrocarbon production.

BP: BP is mentioned as a global deepwater exploration expert with whom India plans to coordinate for future exploration ambitions.

Hardeep Singh Puri: India's oil minister reported $74,781 crore losses for oil companies and announced expanded domestic exploration.

BP: BP reported strong trading profits amid higher energy prices.