NEW DELHI/MEXICO CITY: Reliance Industries (RIL) is selling fuels to Venezuela from India and Europe to sidestep sanctions that bar US-based companies from dealing with state-run PDVSA, according to trading sources and Refinitiv Eikon data. Reliance had been supplying alkylate, diluent naphtha and other fuel to Venezuela through its US-based subsidiary before Washington in late […]
Category: Oil & Gas
RIL sells gas pipeline to Canada’s Brookfield
Mumbai: Canadian asset manager Brookfield will buy the loss-making East West Pipeline from Reliance Industries (RIL) for an enterprise value of Rs 13,000 crore, marking its first purchase in the energy sector. The 1,400-km pipeline from Kakinada in Andhra Pradesh to Bharuch in Gujarat transports natural gas discovered in a Krishna Godavari (KG) basin block […]
Delhi: Illegal CNG kits cheaper, but no guarantee of safety
NEW DELHI: Getting a CNG kit from an unauthorised dealer might not guarantee the safety of your vehicle. Counterfeit products and illegal fittings masked as original CNG kits have flooded the markets in Delhi. Some dealers also offer alteration in the fuel type mentioned in the registration certificate (RC) of the vehicle through touts at […]
Fuel prices on the rise again: Petrol at Rs 80/L, diesel at Rs 70
MUMBAI: Petrol price in Maharashtra once again crossed the Rs 80 mark with the price in Parbhani hitting Rs 80.06 a litre on Sunday. Diesel also crossed the Rs 70 mark. The petrol rate in Mumbai was Rs 78.03, while diesel price was Rs 70.76 per litre. The price of petrol in Nanded and Nandurbar […]
ONGC wrenches back 5 fields govt took away
NEW DELHI: Flagship explorer Oil and Natural Gas Corporation on Thursday wrenched from rivals the prolific Chinnewala Tibba gas field in Rajasthan, which it had discovered 15 back but lost after the government took it away for auctioning ostensibly to encourage private investment. ONGC signed the contract for the 72-square km field near Jaisalmer in […]
PM inaugurates IOC’s Ennore LNG terminal
Chennai, Mar 6 () Prime Minister Narendra Modi Wednesday dedicated to the nation Indian Oil Corp’s Rs 5,150 crore LNG import terminal at Ennore in Tamil Nadu. IOC through its joint venture company, IndianOil LNG Pvt Ltd set up the 5-million tonnes per annum (MMTPA) capacity liquefied natural gas (LNG) import terminal at Kamarajar Port, […]
Haldia Petrochem’s $4 bn Odisha project gets nod in 5 days
NEW DELHI: Bengal-based Haldia Petrochemicals Ltd (HPL) has proposed a total investment of Rs 28,700 crore, or roughly $4 billion, into building a refinery and petrochemical complex near Subarnarekha port in Balasore district of Odisha, boosting the state’s image as an emerging eastern industrial hub. The state’s High Level Clearance Authority headed by the chief […]
ONGC gets single bid from Schlumberger for oil field production upgrade
NEW DELHI: State-owned ONGC has received just one bid from US oilfield service company Schlumberger Ltd for its ambitious pilot to raise output from ageing oilfields through the infusion of technology, sources with direct knowledge of the development said. India’s top oil and gas producer plans to hire international oil service companies for the first […]
Delhi to install hydraulic lifts in 1,000 standard floor CNG buses
NEW DELHI: Taking a step towards making public transport accessible to all, the Delhi cabinet on Friday approved the installation of hydraulic lifts in 1,000 standard floor CNG buses in the city. The Cabinet, in a meeting chaired by chief minister Arvind Kejriwal, approved a proposal of the department of transport for reimbursement of incremental […]
Natgas service to cover 70% of India’s population: Dharmendra Pradhan
NEW DELHI: More than 70% of India’s population will get access to piped natural gas services, up from 20% five years back, once the projects awarded in the 10th auction of licences for setting up CNG and PNG networks are completed, oil minister Dharmendra Pradhan said on Friday. Handing over the latest batch of 12 […]
Subsidised LPG price hiked by Rs 2.08 per cylinder; non-subsidised rate raised by Rs 42.50
NEW DELHI: Domestic cooking gas (LPG) price was Thursday hiked by Rs 2.08 per cylinder and non-subsidised gas by Rs 42.50 per bottle, Indian Oil Corporation (IOC) said. The increase comes after three straight monthly reduction in rates. The rise has been necessitated due to tax impact on increased market rate of the fuel, IOC […]
Saudi Arabia to make India regional hub for oil supply: Saudi foreign minister
NEW DELHI: Saudi Arabia is looking at making India a regional hub for supply of crude oil and will invest billions of dollars in the country to build storage facilities and strengthen refineries, Saudi foreign minister Adel bin Ahmed Al-Jubeir has said. Saudi Arabia, the world’s biggest oil exporter, will also invest in downstream assets […]