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Indian Oil and Gail are still evaluating plans to invest in a Rs 6,000-crore liquefied natural gas (LNG) import terminal being developed by the Adani Group in Odisha. The plan was announced in 2016, the Adani Group had agreed to give away half of equity stake in the LNG terminal to Indian Oil and Gail. […]

India has committed to purchase $5 billion worth of oil and gas from the US per annum and $18 billion worth of defence equipment that is under implementation, highlighting the growing bilateral trade cooperation. In the last two years, the bilateral trade has increased from $119 billion to $140 billion. https://www.business-standard.com/article/economy-policy/india-to-buy-usd-5-bn-oil-gas-from-us-spend-usd-18-bn-in-defence-envoy-119011600270_1.html

The Cabinet Committee on Economic Affairs has approved the tripling of Numaligarh Refinery’s capacity. The capacity will be hiked from 3 million tonnes per annum (mtpa) to 9 mtpa. The Cabinet has also approved setting up of a crude oil pipeline from Paradip to Numaligarh and a product pipeline from Numaligarh to Siliguri. https://www.thehindubusinessline.com/todays-paper/tp-news/article26009743.ece

NDA govt continues its focus on wooing North-East voters State-run oil refiner Bharat Petroleum Corporation Ltd (BPCL) is close to getting cabinet backing to expand the capacity of its refinery located at Numaligarh in Assam’s Golaghat district by 6 million tonnes with an investment of ₹22,000 crore. https://www.thehindubusinessline.com/companies/cabinet-set-to-sign-off-on-22000-cr-numaligarh-refinery-expansion/article25986275.ece

Royal Dutch Shell has completed the acquisition of Gujarat-based Hazira LNG and Port Ventures from French energy major Total Gaz Electricité Holdings. Shell Gas, a subsidiary of Royal Dutch Shell plc, acquired 26% equity interest in the Hazira LNG and Port from Total, to complete the acquisition. We did not disclose the financial consideration for the […]

State-run Bharat Petroleum Corp will import 1 million barrels of Iranian oil in February after a gap of three months, with the nation’s overall purchases from Tehran remaining at 9 million barrels. The United States in early November granted India a six-month waiver from sanctions on Iran’s oil exports. https://auto.economictimes.indiatimes.com/news/oil-and-lubes/indias-bpcl-to-buy-iranian-oil-in-feb-after-3-month-gap-sources/67436870

The government will allow state-owned ONGC and Oil India to induct private and foreign partners in oilfields to raise output and also give special incentive to make their discoveries in difficult areas viable. https://timesofindia.indiatimes.com/business/india-business/govt-allows-ongc-oil-to-induct-foreign-partner-special-incentives-for-difficult-finds/articleshow/67421277.cms

Farm cooperative major Nafed  announced setting up 100 bio-CNG manufacturing facilities using agri-waste such as stubble through public-private partnership (PPP) with an estimated investment of Rs 5,000 crore. https://www.business-standard.com/article/companies/nafed-to-set-up-100-bio-cng-plants-via-ppp-with-rs-5-000-cr-investment-119010500390_1.html

ONGC would be investing about Rs.6,000 crore in drilling 200 developmental Wells across in Sivasagar and Charaideo districts of Assam. The Wells are proposed to be drilled during the next seven years starting from 2018-19 and all necessary statutory clearances are being obtained. https://economictimes.indiatimes.com/industry/energy/oil-gas/ongc-to-invest-rs-6000-crore-in-drilling-200-developmental-wells-in-assam/articleshow/67410221.cms

IOT Infrastructure and Energy Services, a joint venture of state run-Indian Oil Corporation and Oiltanking GmbH of Germany, is tweaking its biogas plant to manufacture bio-CNG for vehicles and has plans to set up more greenfield projects for the clean auto fuel. https://economictimes.indiatimes.com/industry/energy/power/iot-infra-plans-to-manufacture-bio-cng-in-tamil-nadu/articleshow/67358665.cms