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Oil & Gas

May 19, 2019, 10.09 PM IST
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Indian Oil to examine US sanction's impact on CPCL expansion

IOC plans to pull down the 1 million tonnes per year Nagapattinam refinery of its subsidiary Chennai Petroleum Corp Ltd (CPCL) and build a brand new 9 million tonnes unit in the next five to six years.

IOC taps US equity oil, extra Saudi supplies to fill Iran void

The contracts with Equinor and Sonatrach will cover 50% of the 9 million tonne of crude the company had imported from Iran in 2018-19.

Saudi Aramco to supply extra 2 mln barrels/month to Indian Oil from July

Last month, Saudi Arabia approached Indian buyers offering them additional supplies to compensate for loss of Iranian oil after the United States' sanctions kicked in.

Reliance-BP makes 1st bid for oil block; Vedanta bids for 30, ONGC 20

India had in July 2017 allowed companies to carve out blocks of their choice with a view to bringing about 2.8 million sq km of unexplored area in the country under exploration.

Engineers India Ltd signs pact for 1.5 mt refinery in Mongolia

The contract was signed in the presence of D Sumyaabazar, Minister of Mining and Heavy Industry of Mongolia.

Decision on Iran oil post polls

This was conveyed when foreign minister Sushma Swaraj met her Iranian counterpart Javad Zarif in Delhi.

Only 1 Indian client of Iran takes up extra Saudi oil for June: Sources

The US had imposed new sanctions on Iran in November last year, but gave a six-month waiver to eight countries, including India, which allowed them to import some Iranian oil.

GAIL completes award of contract for Pradhan Mantri Urja Ganga pipeline project

This completes contracting for the 3,400-km Jagdishpur (Uttar Pradesh) -Haldia (West Bengal) & Bokaro - Dhamra Natural Gas Pipeline (JHBDPL).

Saudi Aramco offers to increase oil supply to India

The Saudi Arabian oil giant has offered to increase crude oil supplies to India by 200,000 barrels a day.

MRPL capacity utilisation hit by water shortage

The refinery has three crude units. A 60,000 bpd crude unit and some secondary units are already shut for routine maintenance.

Oil imports from Iran down 57% y/y in April: Trade

Oil imports from Iran down 57% y/y in April: Trade

India, Iran's top oil client after China, shipped in about 277,600 barrels per day of oil from Tehran in April, down about 31.5% from the previous month.

Company in strong financial position, has funds to meet capex needs: ONGC

Company in strong financial position, has funds to meet capex needs: ONGC

ONGC in a statement said,"it has strong financials in place to finance its projects both ongoing as well as upcoming ones."

Indian fuel prices begin to decline on global cues

Indian fuel prices begin to decline on global cues

Rates of petrol & diesel have fallen 13 paise and 5 paise a litre, respectively, in two days and if the fall in international oil rates continues over the next few weeks, domestic decline would be sharper.

US cannot ensure crude sale to India at concessional rate: US Commerce Secretary Wilbur Ross

US cannot ensure crude sale to India at concessional rate: US Commerce Secretary Wilbur Ross

"Oil is owned by private people, so the government cannot force people to make concessionary price," Ross said.

India's oil import dependence jumps to 84 per cent

India's oil import dependence jumps to 84 per cent

Ironically, PM Narendra Modi in 2015 had set a target to cut India's oil import dependence by 10 per cent.

ONGC gets green nod for Rs 240 cr project in Assam

ONGC gets green nod for Rs 240 cr project in Assam

The clearance, which is subject to compliance of certain conditions, has been given after taking into consideration the recommendation of a green panel.

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