30 countries with highest proven oil reserves

Oil reserve is an essential yardstick for measuring a country's economic prosperity. And proven oil reserves are those that claim to have a reasonable certainty (normally at least 90 per cent......

RIL in talks with PdVSA to produce heavy oil

Reliance Industries is in talks with Venezuela's PdVSA to produce heavy oil in the South American OPEC nation, PdVSA, executive director Fadi Kabboul said on Wednesday. Venezuela's state oil......

Indian oil PSUs win Venezuela block

Oil and Natural Gas Corporation and partners Indian Oil Corporation and Oil India Ltd have won a bid to develop a major crude oil block in Venezuela, its first major overseas success since Imperial......

Bidding for Venezuelan fields: RIL drops out

Reliance Industries has dropped out of the grand alliance with Oil and Natural Gas Corporation and Indian Oil Corporationin jointly bidding for $16-18 billion oilfield in Venezuela. "Reliance has......