Category: Oil & Gas

OPEC and its allies are considering a further cut in their oil output of 500,000 barrels per day (bpd) due to the impact of the coronavirus on oil demand, two OPEC sources and a third industry source familiar with discussions said. The Organization of the Petroleum Exporting Countries and allies including Russia, known as OPEC+, […]

Chennai: Eyeing opportunities in the wake of disruption expected from electric vehicles, oil major Bharat Petroleum Corporation Limited on Monday launched ‘e-drive initiative’ — an electric three-wheeler mobility model. Partnering with electric vehicle-maker Kinetic Green Energy and Power Solutions and IIT Madras for technology support, the public sector oil marketing giant brought on stream a […]

Indian Oil Corp (IOC) today reported a net profit of Rs 2,688.54 crore in the December 2019 quarter. The company had posted a net loss of Rs 3,519.53 crore in the same period a year ago, the company said in a regulatory filing. Revenue for the period under review fell to Rs 1.46 lakh crore […]

In only the second instance of the government directly funding a gas pipeline, the Cabinet Committee on Economic Affairs (CCEA) today approved a Rs 5,559-crore viability gap funding for the proposed Northeast gas grid, Oil Minister Dharmendra Pradhan said. The 1,656-km North-East Natural Gas Pipeline Grid will connect Guwahati in Assam to major cities in […]

Deputy Commissioner Varinder Kumar Sharma on Thursday inaugurated the first CNG station of Think Gas on the Jalandhar-Nakodar road where cheap CNG would be available to the consumers at Rs 68.50 per kg. The Deputy Commissioner dedicated the gas station set up by the Think Gas in collaboration with Indian Oil Corporation at Kunwar Petro […]

State-owned Oil and Natural Gas Corporation (ONGC) on Thursday walked away with all seven oil and gas blocks on offer in the latest bid round that saw just eight bids coming in. ONGC signed contracts for the blocks at an event where Oil Minister Dharmendra Pradhan were present. “These seven blocks are adding exploration acreage […]

Output of core infrastructure industries shrank by 5.2% in September as seven of eight sectors witnessed negative growth, according to official data released on Thursday. The eight core sectors had expanded by 4.3% in September 2018. Production of seven sectors of coal, crude oil, natural gas, refinery products, cement, steel, and electricity contracted in September.

The Petronet LNG Board had just six months ago disfavoured a $2.5-billion deal to buy 18% stake in US firm Tellurian Inc’s proposed Driftwood LNG terminal, and import 5 million tonnes LNG a year from it for 40 years as the gas was available in plenty and no longer required equity investments, sources said. Petronet […]

New Delhi: India is looking at raising oil imports from Russia, Oil Minister Dharmendra Pradhan said on Tuesday at a time of surging oil prices after an attack on Saudi Arabian facilities halved the kingdom’s production. Pradhan said he had met the chief executive of Russian oil major Rosneft, Igor Sechin, and that four Indian […]

Hindustan Petroleum Corporation Ltd has launched its new product Vinner Petrol Plus and Vinner Diesel Plus fuel additive for vehicles at their retail network. The product was launched in Jalandhar at a well-attended programme at HPCL retail outlet at the Verka Bypass Jalandhar by Manoj Kumar, deputy genaral manager, Jalandhar Retail Regional Office.

Soon, Himachal Pradesh’s entire requirement of petroleum products would be met in the state itself, as Indian Oil Corporation will commission a smart POL (petroleum, oils, and lubricants) terminal at Una having storage capacity of 85,800 kilolitres. Currently, the state’s requirement is catered to by Ambala and Jalandhar depots. Currently, the trial run is being […]

Residents of Salgot village in Kopra gram panchayat are up in arms against the failure of Himachal Pradesh State Electricity Board Ltd (HPSEBL) to provide double –phase electricity supply in their area. The consumers have been getting low voltage single phase power supply since the onset of summer. Humid atmosphere and low voltage have made […]