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Oil & Gas

State-run power equipment maker BHEL on Wednesday said it has bagged a Rs.10.34 billion gas turbine-based captive power plant order from HPCL. In a regulatory filing, Bharat Heavy Electricals Ltd (BHEL) said it has “won a prestigious contract for setting up a gas turbine based captive power plant on lumpsum turnkey (LSTK basis) under International […]

Oil and Natural Gas Corp is set to hire international oil service giants for the first time to boost output from domestic oil fields in response to a government push to increase local supplies and cut expensive imports. ONGC, India’s biggest explorer, has short-listed U.S. oil service companies Halliburton, Schlumberger and GE subsidiary Baker Hughes […]

Confidence Futuristic Energtech, a subsidiary of Confidence Petroleum, would market composite LPG cylinders in Kolkata from next month, a company official said. Confidence Petroleum, a listed entity, is a major supplier of steel gas cylinders to oil PSUs for LPG retailing. Prasenjeet Chatterjee, head (east zone) of Confidence Futuristic, claimed that the composite cylinders, made […]

Kolkata Port Trust (KoPT) has signed a concession agreement with Hooghly Oil & Gas Terminal, a wholly-owned subsidiary of IMC for developing a liquid cargo handling terminal at Shalukhali in Haldia. Project will help lower down pre-berthing detention and turnaround time of tankers carrying different liquid cargo, leading to a reduction in logistics costs to […]

Government is planning to take private Indian refiners as partners for the next phase of building strategic crude oil reserves. Project, estimated to cost Rs 100 billion, is likely to be done on a public-private partnership mode. Private refiners Reliance Industries and Essar might join hands with the government to build and run these reserves. […]

State government, on Sunday, signed a MoU with IOT Infrastructure and Energy Services (IOT) to set up a Rs. 5 billion petroleum terminal in Borkhedi, around 40km from the city. Proposed plan envisions a mega inland terminal by 2020 that will stock petroleum products of state-owned Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation (HPCL). […]

Iran has offered to raise the freight discount on oil sales to India in return for New Delhi agreeing to boost imports, as the OPEC member is keen to eat into the market share of other producers including top rivals Saudi Arabia and Iraq. Iranian President Hassan Rouhani shakes hands with India’s Prime Minister Narendra […]

India will receive 0.75 million mt (5.48 million barrels) of crude from the UAE in April-May as part of a deal with ADNOC to fill up one cavern at the Mangalore strategic reserves facility, oil ministry officials said Thursday. The Mangalore facility has two caverns to store a total of 1.5 million mt of crude. […]