Governor Anandiben Patel has said that fuel and energy conservation is a responsibility of each citizen. Besides tapping our own natural resources, our country is dependent on import and petroleum products are its important component. The Governor was addressing the concluding programme of Saksham-2019 organised from January 16 to February 15 under the coordinated efforts […]
Category: Oil & Gas
High-level panel for reverting to older system of auctioning oil blocks
Two years after the government shifted to revenue sharing contracts for oil and gas block auctions, a high-level panel has suggested reverting back to older system of awarding areas in most basins based on exploration commitment. The six-member panel, headed by NITI Aayog Vice Chairman Rajiv Kumar, which was formed on directions of Prime Minister […]
UAE expects oil market to balance in first quarter
The energy minister of the United Arab Emirates said on Monday supply and demand in the oil market should balance out in the first quarter of 2019, following weeks of output cuts. “My expectation is that we will see the balance during the first quarter unless something happens,” Suheil al-Mazrouei told the three-day World Government […]
Qatar seeks inclusion of natural gas in GST
India’s largest LNG supplier Qatar on Sunday urged the central government to include natural gas in GST to help create demand for the environment friendly fuel and raise its share in the country’s energy basket. Speaking at Petrotech conference here, Qatar Gas CEO Khalid Bin Khalifa Al-Thani said India is very important market for Qatar. […]
Govt allows export of bio-fuels from special economic zones, EoUs
The Government has allowed export of bio-fuels from special economic zones (SEZs) and export-oriented units (EoUs) with certain conditions, according to a notice of the directorate general of foreign trade.
GAIL Q3 net profit jumps 33%
GAIL India Ltd, the nation’s biggest gas utility, on Tuesday reported a 33% jump in December quarter net profit as it sold more natural gas and transported higher volumes.
LPG pump worker held for sexually assaulting minor girl’
Kolar police have booked an employee of LPG gas agency for captivating and sexually assaulting a 15-year-old girl at Swaran Jayanti Park on January 13; search for the accused has been started after victim reported the incident.
70% UJJWALA beneficiaries refilling cylinders: Roy
The Government on Thursday claimed that Prime Minister Narendra Modi’s much acclaimed Ujjwala Yojana is successful in State with higher retention rate of gas connections. According to government estimates out of total beneficiaries, around 70 per cent people are regularly refilling their gas cylinder and the high cost of cylinder has not come in way […]
OIL raises $550 mn through overseas bonds issue
State-owned Oil India Ltd (OIL) on Wednesday said it has raised $550 million debt through an overseas bonds issue. The issue carries 5.12 per cent fixed rate and is of 10-year tenor, the company said in a statement here.
Oil prices to remain range-bound between $55-65 per barrel
Oil prices expected to remain range bound at $55-65 per barrel due to a rise in supply from the US, debt crisis in Venezuela and the limited clarity on the sanctions on Iran, a report said.