Gandhar Oil Refinery (India) has announced that it has received a work order from Ajmer Vidyut Vitran Nigam (AVVNL) amounting Rs 17,41,49,250. The order entails the supply of EHV Grade Type-II Transformer Oil. The contract will be executed within eight months from the date of commencement period, which begins 30 days after the company receives […]
Category: Oil & Gas
Indian refiners refuse to take Russian oil delivered on Sovcomflot tankers
All of India’s refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to US sanctions, further complicating the trade that has flourished since the invasion of Ukraine two years ago. Private and state-run processors including the biggest — Indian Oil Corp. — have stopped taking cargoes if they’re on Sovcomflot […]
Vehicle licence plates to be scanned for PUCC at Delhi petrol pumps
Soon, your vehicle licence plates will be scanned by cameras at the petrol pumps for PUCC validity with the Delhi government planning to implement a digital solution for the issue. The Delhi Transport Infrastructure Development Corporation (DTIDC) has floated a tender and invited bidders to suggest digital solutions to check whether the vehicles coming to […]
Crude oil processing volumes remain steady in Feb at 20.9 MMT: PPAC
Crude oil volumes processed by Indian refiners remained steady in February at 20.9 million metric tonnes (MMT), data released by the Petroleum Planning and Analysis Cell (PPAC) on Wednesday showed. Processed volumes rose by a marginal 0.14 per cent as compared to 20.8 MMT processed in February 2023. On a sequential basis however, volumes fell […]
February crude oil imports from Russia edged up from January trade
India’s import of Russian oil edged up in February over January, reversing declines seen in the past two months, data from industry sources showed on Wednesday, as refiners received some parcels of Russian light sweet Sokol grade. The world’s third biggest oil importer and consumer, India has been gorging on Russian oil since the West […]
Mahanagar Gas legally challenges infrastructure exclusivity expiry notice
City-gas distributor (CGD) Mahanagar Gas has legally challenged a regulatory notice about the expiry of the company’s infrastructure exclusivity in Mumbai, the company said. However, Mahanagar Gas (MGL) and the country’s petroleum and natural-gas regulator are aiming to settle the matter amicably. Mahanagar Gas also looks to apply for a 10-year extension to continue its […]
Barometers end with small gains; oil & gas shares advance
The Indian equity indices ended a volatile session with small gains on Wednesday, investors await for the Fed Policy outcome. The Nifty settled above the 21,800 level after hitting the days low of 21,710.20 in mid-morning trade. Oil & gas, realty and FMCG stocks advanced while metal, private bank and financial services stocks declined. As […]
Benchmarks trade higher; oil & gas shares in demand
The key domestic indices pared some gains and traded near the flat line in the mid-afternoon trade. The Nifty traded above the 21,800 level after hitting the days low of 21,710.20 in mid-morning trade. Oil & gas shares advanced after declining in the past trading session. At 14:27 IST, the barometer index, the S&P BSE […]
BPCL signs 4-month US oil purchase deal with BP, delivery to begin in June
Indian state-run oil refiner Bharat Petroleum Corp has signed a deal with BP to buy 1 million barrels per month of US West Texas Intermediate (WTI) crude for four months, trade sources said. BPCL would start taking delivery of the oil from June, they said. The Indian refiner has also separately bought 2 million barrels […]
BPCL signs 4-month US oil purchase deal with BP, delivery to begin in June
Indian state-run oil refiner Bharat Petroleum Corp has signed a deal with BP to buy 1 million barrels per month of US West Texas Intermediate (WTI) crude for four months, trade sources said. BPCL would start taking delivery of the oil from June, they said. The Indian refiner has also separately bought 2 million barrels […]
India buying more oil from US as fresh sanctions stifle Russian flows
Indian oil refiners are on track to take the most American crude in almost a year after tighter enforcement of US sanctions crimped trade with Russia and forced processors to look elsewhere for supply. State-owned Bharat Petroleum Corp. and Indian Oil Corp., along with top private refiner Reliance Industries Ltd., have purchased about 7 million […]
Iraq to curb crude oil exports to compensate for exceeding OPEC+ quota
Iraq will reduce its crude exports to 3.3 million barrels a day (bpd) in the coming months to compensate for exceeding its OPEC+ quota since January, the oil ministry said on Monday, a pledge that would cut shipments by 130,000 bpd from last month. OPEC’s second-largest producer Iraq pumped significantly more in January and February […]