NEW DELHI: Indraprastha Gas Ltd, Delhi’s city gas suppliers, and state-run BHEL (Bharat Heavy Electricals Ltd) on Wednesday signed an MoU to develop, manufacture and deploy specialised cylinders to be used for hydrogen blending of CNG and operating fuel cell-based power backup systems. IGL V-P Sanjeev Kumar Bhatia and BHEL GM marketing S. Prabhakar Signed […]
Category: Oil & Gas
IOC board clears Rs 61,077 crore petrochem complex in Odisha
NEW DELHI: The IndianOil board has cleared the way for building a petrochemical complex at Paradip in Odisha at an estimated cost of Rs 61,077 crore, marking the largest-ever investment by the state-run company at a single location. The move flows from the post-pandemic thinking among refiners who are focusing on raising the share of […]
Why CNG-run vehicles are losing flavour in Delhi-NCR
NEW DELHI: Compressed Natural Gas (CNG) vehicles appear to be falling out of favour, with fewer people buying them or converting existing cars as a spike in gas prices in the wake of the Ukraine conflict and a long freeze on pump rates have narrowed the gap with petrol and diesel. Data available from regional […]
Vartika Shukla: First female leader at India’s refinery builder plots big change
NEW DELHI: Eighteen months after becoming head of Engineers India Ltd, the state-owned firm that built most of the country’s oil refineries, Vartika Shukla says its transformation is gathering pace. Shukla, who’s worked for the company for more than three decades, is attempting to change its profile, branching out from construction of fossil-fuel plants into […]
CNG falling out of favour on narrowing gap with petrol, diesel
NEW DELHI: CNG (compressed natural gas) vehicles appear to be falling out of favour, with fewer people buying them or converting existing cars as a spike in gas prices in the wake of the Ukraine conflict and a long freeze on pump rates have narrowed the gap with petrol and diesel. Data available from regional […]
Hindenburg fallout: Adani Group suspends work on Rs 34,900 crore petrochemical project
NEW DELHI: Gautam Adani is suspending activities at the Rs 34,900-crore petrochemicals project in Mundra, Gujarat, as the billionaire’s business empire slows down spending following a shortseller attack, news agency PTI reported on Sunday. In 2019, Adani had announced plans to foray into India’s petrochemicals sector with a factory in his home state of Gujarat. […]
India plans to extend fuel export curbs beyond March
NEW DELHI: India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources with direct knowledge of the matter said. The extension of rules may discourage some Indian refiners, mainly private companies, […]
Bengaluru sees 1 gas leak every 3 days, says GAIL
BENGALURU: On average, at least one gas pipeline leakage is reported in Bengaluru city every three days, a GAIL (India) official said on Friday. The admission comes a day after two women and a man were injured when a leaking gas pipeline led to blasts in three houses in Sector 7 of HSR Layout. While […]
Oil steadies as investors take stock of banking crisis
SINGAPORE: Oil prices were little changed on Friday after a meeting between Saudi Arabia and Russia calmed markets, but crude benchmarks were still headed for a second weekly fall after a banking crisis sparked a sell-off in global financial markets this week. Brent crude futures edged up 2 cents to $74.72 a barrel by 0133 […]
Petrol, diesel sales drop after February fireworks
NEW DELHI: India’s fuel demand fell in the first half of March after posting a record growth in the previous month, preliminary industry data showed on Thursday. Fuel sales soared to the highest levels in February on the back of robust demand from the agriculture sector as well as transport picking up after the winter […]
IOC to float arm for low carbon energy business
NEW DELHI: State-run Indian Oil Corporation on Wednesday said it will set up a wholly-owned subsidiary to consolidate all new and low-carbon energy businesses under a single umbrella to speed up net its zero journey. “We plan to offer a diverse portfolio of both molecules and electrons. While we look to diversify our existing petroleum […]
RIL shifts its oil traders to Dubai from Mumbai
Reliance Industries (RIL) has shifted most of its oil traders from Mumbai to Dubai, executing a plan announced in 2021, but which now coincides with the city’s growing stature as a commodities hub after Russia’s war. Most of the refiner’s oil procurement and trading are now conducted out of the UAE’s biggest city, said sources. […]