The NCLAT has upheld the fair trade regulator CCI’s order, holding Adani Gas Limited (AGL) “guilty of of abuse of dominant position” while supplying piped natural gas to industrial customers in Faridabad. However, a two-member NCLAT bench headed by Chairperson Justice S J Mukhopadhaya reduced the quantum of penalty from four per cent of the […]
Category: Oil & Gas
Oil & Gas
Oil rises more than 1% on smaller-than-expected rise in crude stocks
Oil prices rose more than 1 per cent on Thursday, recouping losses from the previous day on a smaller-than-expected rise in crude oil inventories in the United States, although the gains were capped by uncertainties over cuts by major oil producers. Brent crude rose by 78 cents, or 1.5 per cent, to $51.91 per barrel […]
Iran’s oil and gas production not affected by Coronavirus, says official
Coronavirus has not had any effect on oil or gas production in Iran, the deputy head of the National Iranian Oil Company (NIOC) said on Wednesday, according to the Tasnim news agency. “The production and distribution of Iran’s oil and gas is being carried out without any effect from the outbreak,” Farokh Alikhani was quoted […]
IOC-Phinergy to begin metal-air battery field trials; in talks with auto companies
Indian Oil, which has picked up a minority stake in high-tech battery maker Phinergy earlier this month, is in talks with leading domestic electric vehicle makers to start field trials for the metal-air batteries that the Israeli company specialises in. Indian Oil chairman Sanjiv Singh has also said they will soon form a joint venture […]
India pegs next fiscal’s refined fuel demand growth at 3.1%
India’s annual refined fuel demand is expected to rise 3.1% in the next fiscal year to March 2021 from the projected 1.3% in this year, according to government data, pointing to a possible economic recovery in the South Asian nation. India’s economy expanded at its slowest pace in more than six years in the last […]
IEX launches trading platform Indian Gas Exchange; norms yet to be framed
India’s leading power trading platform Indian Energy Exchange (IEX) launched its natural gas trading platform last week. Called the Indian Gas Exchange (IGX), it is now looking for trader members and gas buyers. This even as the Petroleum and Natural Gas Regulatory Board (PNGRB) is yet to come out with guidelines for gas trading. IGX […]
IGL to set up gas meter manufacturing unit to cut reliance on imports
As city gas distribution network in India expands rapidly, Indraprastha Gas Ltd plans to set up a factory to manufacture gas meters used to bill households and industries for the consumption of the environment-friendly fuel, as it looks to cut reliance on imports from China for the same. IGL will invest about Rs 100 crore […]
IOCL aims to produce LPG from biomass in next three years, develops technology to scale up production
Indian Oil Corporation Ltd (IOCL) is aiming to ensure that at least 10 per cent of LPG (Liquified Petroleum Gas) will be produced from biomass, a senior official in the R and D wing of IOCL said on Friday. When put in use, this would be cost-effective, he said adding that their research has shown […]
Indian refiners RIL, Nayara Energy plan to wind down Venezuelan oil buys in April: Sources
Indian refiners Reliance Industries and Nayara Energy are planning to wind down purchases of Venezuelan oil in April fearing future U.S. sanctions could choke off all avenues to trade with state-run oil firm PDVSA, three sources with knowledge of the matter said. Such a step by Reliance, which operates the world’s biggest refining complex, and […]
Research on to produce biomass LPG in 2-3 years: IOCL official
Indian Oil Corporation Ltd (IOCL) is in the process of developing LPG from bio mass and would succeed in another two to three years, a senior official in the R and D wing of IOCL said on Friday. This is being done in tune with the decision of World LPG Association to have at least […]
Indian refiners get rare oil cheap as Coronavirus chokes demand in China
Indian refining companies are snapping up rare crude grades as the coronavirus outbreak curtails China’s demand for processing, executives and traders said, with prices for some grades falling by as much as 15%. Chinese refiners have slashed output by at least 1.5 million barrels a day in February, or over 10 percent, after the virus […]
Non-telecom PSUs to take common legal recourse for AGR: GAIL chairman
Gas Authority of India Limited (GAIL) India is in talks with other state-run companies to take a common legal recourse in the controversial adjusted gross revenue (AGR) issue. GAIL is in discussions with Oil India (OIL) and Power Grid Corporation (PGCIL) regarding this. Earlier this month, the Supreme Court (SC) directed the transmission major to […]