Policy prop fails to check oil imports

Domestic oil and gas output has fallen in the last four years and imports have increased even as the government changed the rules for exploration to attract investments. Crude oil production has declined 4.7 per cent and natural gas by 2.9 per cent since 2014-15, while consumption increased at a healthy annual rate. Government data […]

Prized ONGC asset sale nixed

Top executives of Oil and Natural Gas Corporation (ONGC) and bureaucrats within the government have successfully thwarted an attempt by the Niti Aayog to privatise the country’s largest oil and gas producing fields, including those in the famed Bombay High and Vasai East. A high-level committee headed by Niti Aayog vice-chairman Rajiv Kumar favoured “transferring” […]

Cloud over Bengal pipeline project

The development of a gas pipeline in Bengal — from Kanai Chatta near Digha to Shrirampur in Nadia — could be hit because of lack of clarity on the supply of the fuel from H-Energy Pvt Ltd, a subsidiary of real estate firm Hiranandani Group. “The availability of FSRU (floating storage regasification unit) timeline is […]

US ‘urges’ India on Venezuela

The US is pressing India to stop buying oil from Venezuelan President Nicolas Maduro’s government, Washington’s top envoy for Venezuela said, as the Trump administration this week threatened more US sanctions to cut off Maduro’s financial lifelines. “We say you should not be helping this regime. You should be on the side of the Venezuelan […]

Odisha go-ahead to HPL integrated refinery plan

Odisha has “accorded approval” to an integrated refinery-cum-petrochemical complex of Haldia Petrochemicals Ltd (HPL), three years after the company had publicly announced a similar plan for Bengal. A committee headed by Odisha chief minister Naveen Patnaik approved the Rs 28,700-crore project ($4.05 billion), which will involve a refinery to produce paraxylene and purified terephthalic acid […]