“Fuel price hike won’t hurt the middle and lower class, it will kill them all,” said an aggrieved netizen on Twitter, venting his anger. If you’re wondering why #petrolprice is trending on the microblogging site, read on. The Pakistan government on Wednesday increased the prices of petrol and diesel despite a dip in the international […]
Category: Oil & Gas
Energy companies not facing any challenge in securing funding: Dharmendra Pradhan
NEW DELHI: Indian energy companies are not facing any challenge in securing finances, Union Minister Dharmendra Pradhan said on Friday. There are reports that some of the sovereign funds, including Norway’s State Pension Fund, have decided not to invest or finance fossil fuel-based projects and businesses. “There is no challenge. I have mentioned in a […]
IOC adopts Horizontal Directional Drilling for fuel transport
VIJAYAWADA: Adding a feather on its cap, the Indian Oil Corporation Limited (IOCL) adopted Horizontal Directional Drilling (HDD) technology for transporting fuel for the first time in the country. It laid underground pipelines across a distance of 3.1 km, between Seethanagaram and Gutala villages on the river Godavari under the Paradip-Hyderabad Petroleum Pipeline Project. For […]
Indian Oil profit tanks on lower inventory gains
State-run oil sector giant Indian Oil Corporation on Wednesday disclosed a 47 per cent fall in net profit for the first quarter of the ongoing financial year (Q1FY20), primarily due to lower refinery margins and inventory gains compared to the same period of the previous year. Total revenue, meanwhile, remained flat at Rs 1.53 lakh […]
CAG finds lapses in ONGC’s marine logistics operations
The Comptroller and Auditor General of India (CAG) has highlighted several deficiencies in state-owned oil sector company ONGC’s marine logistics operations. According to the central auditing watchdog, ONGC had not planned for an adequate number of offshore supply vessels (OSVs), leading to continued dependence on hired private vessels. The report was tabled in the Parliament […]
Oil pipelines could turn the delta area into a viscous battlefield
The rice bowl of South India, the Cauvery Delta, has been simmering, with the gruel spilling over onto the gas-top, sometimes stoking the fire and sometimes dousing it. But the flickering tension remains because the Cauvery delta has been mapped to extract methane gas and hydrocarbon by using the method of hydraulic fracturing. The Centre’s […]
Government mulling to split GAIL by selling pipeline business to strategic investor
NEW DELHI: The government is considering to split state-run gas utility GAIL (India) Ltd by hiving off its pipeline business into a separate entity and selling it off to strategic investors, sources privy to the development said. GAIL is India’s biggest natural gas marketing and trading firm and owns more than two-thirds of the country’s […]
ONGC to install desalination plants in Ramnad district
CHENNAI: The Oil and Natural Gas Corporation (ONGC) will be installing reverse osmosis (RO) desalination plants in seven drought-hit villages of Ramanathapuram district, which are vulnerable to drinking water crises, at a cost of Rs 96.11 lakh as part of its Corporate Social Responsibility (CSR). The seven villages are SP Pattinam (Thiruvadanai block), Vennatoor (Ramanathapuram […]
Indian Oil Corporation and GAIL pact to buy stake LNG project expires
State-owned refinery Indian Oil Corporation (IOC) and gas utility GAIL India’s initial agreement, to buy a 50 per cent stake in Adani Group’s Rs 5,000 crore Dhamra LNG project in Odisha, has expired, said Dharmendra Pradhan, oil minister. On September 21, 2016, IOC and GAIL had signed a ‘non-binding MoU’ with Adani Petroleum Terminal Pvt. […]
No proposal to merge state-owned firms, says Oil Minister Dharmendra Pradhan
NEW DELHI: Oil Minister Dharmendra Pradhan Monday said there is no proposal, at present, for the merger of state-owned oil and gas entities under consideration of his ministry. While state-owned Oil and Natural Gas Corporation (ONGC) had last year acquired government stake in Hindustan Petroleum Corporation Ltd (HPCL), Indian Oil Corp (IOC) and Bharat Petroleum […]
Petrol price to rise by Rs 2.5, diesel by Rs 2.3 after Finance Minister Nirmala Sitharaman raises tax
NEW DELHI: Petrol price will be hiked by over Rs 2.5 per litre and diesel by more than Rs 2.3 after Finance Minister Nirmala Sitharaman Friday raised taxes on the fuels to part-fund her Budget for 2019-20. Sitharaman raised excise duty and road and infrastructure cess on the auto fuels by Rs 2 per litre […]
Delhi Transport Corporation’s Rajghat-1 depot to get CNG production unit
NEW DELHI: Indian Oil Corporation Limited (IOCL) and Indraprastha Gas Limited (IGL) on Thursday started work on a Hydrogen CNG (HCNG) production unit at Rajghat-1 depot of Delhi Transport Corporation. Laying the foundation stone of the four-tonnes per day compact unit, Chairman of Environment Pollution (Prevention & Control) Authority (EPCA), Dr. Bhure Lal stated he […]