NEW DELHI: India produced 34,203 thousand metric tonnes (TMT) of crude oil during 2018-19 (April to March) which is 4.15 per cent below the output in the previous financial year and 7.59 per cent lower than the target, the government said on Thursday. The production in 2017-18 was 35,684 TMT while the target for 2018-19 […]
Category: Oil & Gas
India to stop importing oil from Iran; to make up lost volumes from alternate source
NEW DELHI: India will stop importing crude oil from Iran following the US move to end sanction waivers, and will use alternate supply sources such as Saudi Arabia to make up for the lost volumes, top officials and industry sources said on Tuesday. The Trump administration on Monday decided not to renew waiver that let […]
Petrol may not go beyond Rs 75 per litre in Delhi till the end of elections
NEW DELHI: Call it election time rationing or return of the administered price mechanism regime, but the retail price of petrol may not cross the Rs 75 a litre-mark in Delhi, at least till the end of polling on May 19. Official sources said that public sector oil marketing companies (OMCs) have been told in […]
Centre grants ONGC Terms of Reference to dig 40 hydrocarbon wells
CHENNAI: The ONGC has been granted permission by the Centre to conduct environmental impact studies to dig 40 hydrocarbon wells in the Cauvery Delta. Express earlier reported that the public sector oil major had applied to the Union Environment Ministry, seeking Standard Terms of Reference (ToR) to conduct detailed Environment Impact Assessment. According to the […]
Nod for ONGC opposed
THANJAVUR: Farmers’ associations and environmental activists have vehemently opposed the Union government’s nod for ONGC to conduct detailed environmental impact assessment (EIA) studies for drilling 40 hydrocarbon wells in Cauvery delta. PR Pandian, general secretary, Tamilaga Cauvery Farmers’ Association, on Monday told reporters after appearing in court in Mannargudi in a case against him filed […]
TNIE and Indian Oil launch Summer Bonanza fill-and-win scheme in Kochi
KOCHI: The New Indian Express in association with Indian Oil Corporation (IOC) on Friday launched Summer Bonanza – a fill-and-win scheme for customers filling petrol and diesel from IOC outlets. Electronic goods manufacturer Blue Star is also partnering in the venture. The scheme was launched by K Raghu, IOC Deputy General Manager (Retail Sales – […]
10 per cent price hike to up earnings of oil cos, leave PNG pricier
NEW DELHI: Come April 1, the price of natural gas will rise by 10 per cent to their highest level in three years. Sources say that the price of domestically produced natural gas will rise to $3.69 million British thermal units (mmBtu) for the April-September period as opposed to $3.36 in the previous six months. […]
Indian Oil cos win onshore block in Abu Dhabi
MUMBAI: A consortium of Indian oil companies have won 100 per cent stake in Abu Dhabi Onshore Block 1 Concession, participating in the oil-rich emirate’s first ever competitive block bid round, Indian Oil Corporation (IOC) said on Monday. IOC, along with Bharat PetroResources (a subsidiary of Bharat Petroleum Corporation), have bagged the concession through a […]
Reliance Industries denies dodging US sanctions to supply fuel to Venezuela
MUMBAI: Reliance Industries (RIL), India’s top private refiner, has stated that it has not sidestepped US sanctions in supplying refined oil products to Venezuela. RIL runs one of the largest refining complexes with a capacity to process 1.24 million barrels per stream day that includes an SEZ refinery from where it exports refined products. “Since […]
‘Maharatna’ HPCL may trouble ONGC
Hindustan Petroleum Corporation Limited (HPCL) is set to become the ninth company to join the Maharatna club —which would empower the state-owned refinery to be on par with its promoter ONGC on decision-making powers and become even more globally competitive. Officials say that HPCL had applied for the status in September last year and the […]
Petroleum and Natural Gas Regulatory Board hikes tariff of Reliance gas pipeline by 37 per cent
NEW DELHI: Oil regulator PNGRB has approved a 37 per cent rise in tariff from April 1 for the pipeline that transports Reliance Industries’ eastern offshore KG-D6 gas to customers. In its final tariff order, the Petroleum and Natural Gas Regulatory Board (PNGRB) in a March 12 order said transporting natural gas on the East-West […]
India seeks investment from Saudi Arabia for strategic oil reserve
NEW DELHI: With an aim to resurrect a $44 billion (Rs 3.08 lakh crore) refinery project, India has invited Saudi Arabia to invest in the former’s strategic oil reserve. Saudi energy minister Khalid Al Falih, on his second visit to India in three weeks, discussed with its Indian counterpart Dharmendra Pradhan on the 60 million […]