December,12,2018,Wednesday

​GOOD MORNING INDIA!

WEEKLY NEWS UPDATES IN OIL & GAS SECTOR

LATEST NEWS

Regulator imposes tariff to curb unrealistic bids: New rules to spur piped gas

Regulator imposes tariff to curb unrealistic bids: New rules to spur piped gas

A new guideline approved by the downstream regulator for city gas licences has lent higher weightage to work programme than tariff, raised the amount of performance guarantee, and relaxed the licensee’s obligation on financial closure, in securing gas supplies, and during delays due to government imposed restrictions.

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India's OMPL seals naphtha deal in first import tender since 2015

India's OMPL seals naphtha deal in first import tender since 2015

ONGC Mangalore Petrochemicals Ltd (OMPL) has purchased 105,000 tonnes of heavy cut naphtha for its petrochemical plant from Vitol, making this the company's first import tender purchase since 2015, traders familiar with the matter said.

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Offshore oil industry suppliers fight to be fit for frugal future

Offshore oil industry suppliers fight to be fit for frugal future

Rising more than 20 metres above the sea, Statoil's Aasta Hansteen platform towers over the Stord shipyard in western Norway, representing the height of engineering in the offshore oil sector.

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India Plans To Nearly Double Oil Imports From Iran: Sources

India Plans To Nearly Double Oil Imports From Iran: Sources

Government owned refiners plan to almost double oil imports from Iran in 2018-19, drawn by incentives offered by Tehran, sources with knowledge of the matter said, potentially helping Iran increase its share in the world’s third-biggest oil importer.

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Hindustan Oil Exploration to increase production by more than three-fold

Hindustan Oil Exploration to increase production by more than three-fold

Hindustan Oil Exploration Company (HOEC), that has acquired entire share capital of Geopetrol International this week, said that it is set to increase its net production by more than three-fold from 1800 barrels of oil equivalent per day (boepd) to 8000 boepd in three years.

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India records lowest crude oil production in seven years

India records lowest crude oil production in seven years

India produced 32,642 million tonne crude oil in the eleven months between April 2017 and March 2018, a marginal 1 per cent decline as compared to the output in the same period last fiscal (April-Feb 2016-17), and a record seven year low, according to data sourced from the Petroleum Planning and Analysis Cell (PPAC), an arm of the oil ministry.

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MOST NOTABLE STORIES OF THE WEEK

ONGC Mangalore Petrochemicals seals naphtha deal in first import tender since 2015

ONGC Mangalore Petrochemicals seals naphtha deal in first import tender since 2015

ONGC Mangalore Petrochemicals is owned by Mangalore Refinery and Petrochemicals and parent company Oil and Natural Gas Corp. File Photo: Bloomberg

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Qatar Says Too Early To Exit OPEC Oil Cuts As Investment Still Low

Qatar Says Too Early To Exit OPEC Oil Cuts As Investment Still Low

Qatar's Energy Minister Mohammed al-Sada told Reuters he also supported the idea of creating a permanent platform for OPEC's cooperation with Russia even after the current round of joint oil supply cuts ends.
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Battery Makers Worry Lithium Will Replace Oil In The Import Bill

Battery Makers Worry Lithium Will Replace Oil In The Import Bill

EnerBlu has only recently started building its first battery manufacturing plant in the US, but its chief strategy officer, Robert Pedraza, is already eyeing the Chennai Metropolitan Transport Corporation as a potential customer.

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Oil Inches Lower On Expectations For US Crude Stock Build

Oil Inches Lower On Expectations For US Crude Stock Build

Oil prices slipped on Wednesday on expectations for a build-up in US crude inventories, but Russian government comments on prospects for stepping up cooperation with OPEC to coordinate output cuts braked steeper declines.

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Tata Communications And Mahanagar Gas Ltd To Deploy 5,000 Smart Gas Meters In Mumbai

Tata Communications And Mahanagar Gas Ltd To Deploy 5,000 Smart Gas Meters In Mumbai

Tata CommunicationsBSE 2.81 % will work with Mahanagar Gas (MGL) to deploy 5,000 smart gas meters in Mumbai. The telecom operator, on Tuesday, said that the new smart meters will give households and businesses visibility and control over their gas usage, allowing MGLBSE 0.94 % to improve its operational efficiencies.

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Delhi Becomes First Indian City To Get Ultra-clean Euro-VI Grade Fuel

Delhi Becomes First Indian City To Get Ultra-clean Euro-VI Grade Fuel

In order to tackle the alarming level of air pollution in Delhi, the state-owned oil firms will supply ultra-clean Euro-VI grade diesel and petrol from Sunday.

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