Oil & Gas

State-owned gas utility GAIL India today said it has drawn up investment plans of Rs 30,000 crore for expansion. “We have investment plans for Rs 30,000 crore projects in hand, out of which Rs 8,000 crore in the coal gasification, 1,500 crore in city gas and Rs 1,000 crore in breakwater water project,” GAIL Chairman […]

India’s crude oil production fell 0.6 per cent to 2.93 million tonnes in April after Cairn India shut some 70-odd wells at its biggest oilfield in prolific Rajasthan block. Crude oil production stood at 2.95 million tonnes in the same month last year, according to a statement by Petroleum Ministry today. State-owned Oil and Natural […]

The coal ministry has been striving to cut down on the country’s coal imports and related import bill. The coal consuming sectors, however, have shifted to imported petcoke usage, adding up to the country’s import bill on the petroleum side. http://www.business-standard.com/article/economy-policy/petcoke-imports-on-a-rise-as-a-coal-substitute-117052200624_1.html

Saudi Aramco is “strongly interested” in a refining project with Indian state refiners, Dharmendra Pradhan, India’s oil and gas minister, said on Monday. “We’re talking to our Saudi Arabian colleagues to invite investment from Aramco,” Pradhan said at a Vienna press conference after meeting with Mohammad Barkindo, secretary general of The Organization of Petroleum Exporting […]

Oil Ministry may block any attempt by state-owned GAIL, IOC, ONGC and BPCL to buy 10 per cent stake of France’s GDF International in Petronet LNG Ltd as it is keen to keep the liquefied natural gas importer a private limited company. GDF, a unit of French energy giant Engie SA, has written to sell […]

The GST regime will come into effect from July 1, this year. The oil companies might take a collective hit of about Rs 25,000 crore, a year after that since most of their output is outside the purview of the new system, mentioned a national news portal. The GST includes most goods and services but […]

As part of efforts to enhance the value chain of petroleum products and facilitate the refining of high viscous indigenous crude oil, the public sector Bharat Petroleum Corporation Ltd (BPCL) is replacing the existing 30-inch crude oil pipeline with 20-inch insulated pipeline, from South Tanker Berth Jetty to Kochi Refinery(KR). http://indiatoday.intoday.in/story/insulated-pipeline-to-boost-bpcl-kochi-refinerys-capacity/1/959298.html

India’s state-owned oil companies aim to sustain spending near a three-year high, encouraged by falling oil-services costs and expanding demand. The country’s largest oil refiner Indian Oil Corp will boost domestic spending by a quarter in the year to March 31 and smaller processor Hindustan Petroleum Corp plans to invest about 17% more this year. […]

India’s first producer of natural gas from coal seams in the country’s oldest mining region will spend about $1 billion to look for some of the newest forms of energy. Great Eastern Energy Corp. Ltd will invest as much as Rs 20 billion ($312 million) over the next four to five years to drill 144 […]

Plans by China and India to adopt energy policies that will boost the use of electric vehicles (EVs) in the coming years have prompted the Paris-based International Energy Agency (IEA) to announce that it will review its long-term oil demand forecasts. China is aiming for one-fifth of all car sales to be comprised of vehicles […]