Oil & Gas

Petronet LNG Ltd. sees a lifeline arriving for its loss-making Kochi liquefied natural gas import terminal by 2019 after it boosts capacity use fourfold. The only LNG terminal in southern India is operating at about 10 percent of its 5 million-ton-a-year capacity, according to Finance Director R.K. Garg. Capacity use may increase to 2 million […]

While ONGC is on the verge of acquiring the government’s 51.11% stake in oil retailer Hindustan Petroleum Corporation (HPCL), the government has lined up two more such big mergers under a grand plan to create three oil PSUs with integrated operations. Indian Oil Corporation (IOC), the country’s largest company by revenue, is likely to acquire […]

Bharat Petroleum Corp has made its first purchase of U.S. oil, buying high sulphur crudes Mars and Poseidon in a tender, its head of refineries Ramachandran said. BPCL is the second Indian refiner to buy U.S. Gulf crude after Prime Minister Narendra Modi’s visit to Washington last month when President Donald Trump said the United […]

World’s biggest oil refinery-cum-petrochemical complex planned in Ratnagiri district of Maharashtra will cost Rs. 2700 billion and take 60 months to build, Oil Minister Dharmendra Pradhan said on Monday. State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) are building the integrated complex with a refining capacity of […]

Petroleum Ministry has intensified monitoring of oil and gas fields of state-owned firms like ONGC to avoid slippages in domestic output derailing the target of cutting import reliance by 10 per cent by 2022. The Directorate General of Hydrocarbons (DGH) in the last few weeks has issued specific directives to Oil and Natural Gas Corp […]

State-owned HPCL will invest Rs.61,000 crore over the next four years in expanding and upgrading its existing refining capacity to meet higher quality fuel norms, the company said in an investor presentation. HPCL is upgrading both its Mumbai and Visakh refineries to produce fuel meeting Euro-VI emission norms.“Major planned investments in refinery, POL (petroleum, oil […]

International Energy Agency (IEA), the Paris-based independent energy body, in its new report ‘Gas 2017’ estimates global gas demand to grow by 1.6 percent for the next five years with US, the world’s largest producer and consumer of gas, accounting for 40 percent of the growth. “Global gas demand is expected to grow by 1.6% […]

India’s natural gas sector will see more market-friendly reforms which will help create a trading hub in the country, Oil Minister Dharmendra Pradhan told a gathering of investors at the 22nd World Petroleum Congress in Istanbul, Turkey. “We are in the process of reforming the gas market in India where you can sell through a […]

India flagged the importance of the ‘responsible price’ of crude oil at the World Petroleum Congress (WPC) in Istanbul. Speaking at the event, Minster of State (Independent Charge) for Petroleum and Natural Gas, Dharmendra Pradhan said, “In today’s oversupplied market, it is important for producers to understand the perspective of consumers and demand centres and […]

Sri Lanka’s cabinet has approved a proposal to issue letters of intent to build two LNG power plants in the island. These two plants, which will generate 500MW each, is to be carried out by India and Japan, a cabinet decision said without revealing details.In April this year, Sri Lanka and India signed an MoU […]