In a big jolt to Indian Oil, the Odisha government has withdrawn tax incentives given to the Rs 34,555-crore Paradip refinery, making the company reconsider its plans to invest another Rs 52,000 crore in the state.
A unit of Indian engineering conglomerate Larsen & Toubro has won an onshore engineering, procurement and construction (EPC) contract from Indian Oil Corp Ltd, the country’s largest refiner, worth 11 billion rupees ($165 million), it said in a statement on Saturday.
Iran is looking to offer up to $4.5 billion in rial and foreign currency-denominated bonds by March 2018, the oil ministry’s news website SHAN Areported on Saturday.
Indian Oil Corporation (IndianOil) has repaired and restored the Mathura-Delhi section of its Mathura-Jalandhar pipeline, where an instance of illegal tapping was detected on 17th February 2017 early morning, and put it back into service the same night to ensure uninterrupted transport of petroleum products.
Saudi Arabia’s King Salman starts a month-long Asian tour on Sunday to build ties with the world’s fastest growing importers of Saudi oil and promote investment opportunities, including the sale of a stake in its giant state firm Saudi Aramco.
Dismissing apprehensions over safety of the 503-km LNG pipeline project from Kochi to Mangaluru, Gas Authority of India Ltd (GAIL) on Friday told the Kerala High Court no alternative route is possible for the project in the Malappuram and Kozhikode districts.
A day after the state cabinet decided not to allow financial sops to IOCL ‘s 15 MMTPA Paradip refinery , finance minister Pradip Kumar Amat justified the move in the assembly on Thursday
The Board of state-owned ONGCBSE 0.03 % has approved signing of definitive agreements for buying debt- laden GSPC’s entire 80 per cent stake in KG-basin natural gas block for $ 1.2 billion.
Oil prices held gains on Friday on data showing US stockpiles rose for a seventh straight week but at a pace that was well below expectations, and news of oil being sold out of storage in Southeast Asia.
Crude oil exports in the US hit a record high, delivering a million barrels a day for the consecutive second week, and filled the gap in the world markets, which was created by OPEC cutbacks.