India’s plan to have the world’s largest refinery may get delayed by three years with the 60 million tonne (MT) Ratnagiri refinery in Maharashtra expected to come up by 2025.
Buying interest for physical cargoes of 380-cst high-sulphur fuel oil (HSFO) intensified on Tuesday, after muted trade in the previous two sessions, lifting cash premiums of the fuel to a three-session high.
India’s falling oil and gas production is a matter of concern which the government has sought to address by initiating various reforms in the sector, Petroleum Minister Dharmendra Pradhan said on Tuesday.
India has delayed the commissioning of a giant refinery that state-owned firms are building in tie up with Saudi Aramco and Abu Dhabi National Oil Co (ADNOC) by two year to 2025, a senior official at the consortium told Reuters on Tuesday.
India’s fuel demand fell 1.8 percent in November compared with the same month last year. Consumption of fuel, a proxy for oil demand, totalled 17.27 million tonnes, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Former chief economic adviser Arvind Subramanian said Monday that the inclusion of petrol and diesel in the Goods and Services Tax (GST) ambit was not possible until the revenues under the new tax regime stabilises.
Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) have invited applications for retail outlet dealership in Jammu and Kashmir.
Oil Minister Dharmendra Pradhan on Wednesday said that Organization of Petroleum Exporting Countries’ (OPEC’s) decision on production cuts should not be one-sided and emerging requirements of consuming countries such as India should be taken into account.
India on Tuesday announced a “wait-and-watch” position on the Organization of the Petroleum Exporting Countries’ (OPEC) and non-OPEC producers’ decision last week to lower their production of crude oil by 1.2 million barrels per day for a six-month period.
Iran has set the official selling price (OSP) of its Iranian Light grade for its Asian buyers at 30 cents above the Platts Oman/Dubai average for January, $1 lower than the previous month, a price document reviewed by Reuters showed on Tuesday.