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The three public-sector oil marketing companies — Indian Oil Corporation (IOC), Hindustan Petroleum Corporation (HPCL) and Bharat Petroleum Corporation (BPCL) — have approached the petroleum ministry to seek exemption from the election commission for going ahead with the allotment of at least 31,800 petrol pumps, at a time when the model code of conduct is […]

The Odisha government cleared a Haldia Petrochemicals Ltd proposal to invest Rs 28,700 crore for setting up an integrated refinery and petrochemicals facility in Balasore. A panel led by chief minister Naveen Patnaik approved the proposal. The government will allot state-owned land and consider fiscal concessions for the project. https://economictimes.indiatimes.com/industry/energy/oil-gas/haldia-petrochemicals-to-invest-rs-28700-crore-in-odisha-refinery/articleshow/68279082.cms

BPCL-Kochi Refinery is going ahead with its second petrochemical project to produce polyols at an investment of Rs. 11,300 crore. An import substitute, polyols are used in the production of polyurethanes used in diverse products such as automotive seats, mattresses and shoe soles. https://www.thehindubusinessline.com/todays-paper/tp-news/article26393681.ece

State-owned Indian Oil Corp (IOC) has won licences to retail gas in 10 cities while Hindustan Petroleum Corp Ltd (HPCL) won rights for nine towns as oil regulator PNGRB announced winners for the 10th city gas bid round. https://economictimes.indiatimes.com/industry/energy/oil-gas/ioc-wins-city-gas-licences-for-10-areas-hpcl-9/articleshow/68183483.cms

EID Parry, the sugar manufacturing company under Murugappa Group, is in talks with Indian Oil Corporation and other firms to explore opportunities in producing Compressed Biogas (CBG), following the central government’s announcement in October to start 5,000 CBG plants to curb oil imports. https://www.business-standard.com/article/companies/eid-parry-in-talks-with-indian-oil-to-start-compressed-biogas-production-119022500572_1.html

Saudi Arabia is looking at making India a regional hub for supply of crude oil and will invest billions of dollars in the country to build storage facilities and strengthen refineries. the world’s biggest oil exporter, will also invest in downstream assets in India besides helping the country boost its infrastructure in the petrochemical sector. […]

The government has asked state-owned Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) to sell out 66 of their small oil and gas fields to private firms as it brought in a new policy to boost domestic production and cut imports. https://www.business-standard.com/article/pti-stories/govt-asks-ongc-oil-to-sell-out-66-fields-to-pvt-firms-119022101006_1.html

Gail has set up a satellite liquefied natural gas (LNG) terminal in Bhubaneswar to supply local customers in the absence of a gas pipeline — an innovative model that may get replicated by other city gas distributors eager to quickly start supply in new licence areas where gas pipelines are yet to reach. https://economictimes.indiatimes.com/industry/energy/oil-gas/gail-sets-up-satellite-lng-station-in-bhubaneswar/articleshow/67893685.cms

The Kuwait Investment Authority (KIA) has currently invested five billion USD and plans to double this, senior sources told ET. Kuwait is also planning to enter into third country joint projects on the lines of joint Kuwait-Japan investments in third countries, sources indicated. https://auto.economictimes.indiatimes.com/news/oil-and-lubes/oil-rich-kuwait-plans-to-double-investments-in-india-eyes-joint-projects-in-third-nation/67870802