Billionaire Gautam Adani’s group has bagged licences to retail gas in 21 cities in the latest city gas distribution bid round that saw state-owned Bharat Petroleum Corp Ltd’s unit and Torrent Gas emerging as the other big winners.
India’s fuel product consumption or sales increased 7.4% to 17.06 mt in July 2018 over a year ago. Naphtha sales jumped 60.7% to 1.14 mt, diesel 4.9% to 6.61 mt, petrol 7.8% to 2.31 mt, LPG 6.0% to 2.04 mt and bitumen 52.9% to 0.32 mt.
Energy Infrastructure (India) Ltd (EIL), a 100% subsidiary of the Netherlands-based Energy Infrastructure Butano (Asia) BV has been recently selected by Gujarat government to set up a Liquefied Petroleum Gas (LPG) terminal project at Okha for an investment of Rs700 crore, according to two senior state government officials.
State-owned Oil India Ltd today reported a 56 per cent jump in its April-June quarter net profit on back of higher oil prices.
Every year around mid-May, a chain of about 1,000 tankers roll out daily for the border regions of Jammu & Kashmir and higher reaches of Himachal Pradesh from supply points of state-run fuel retailers in Punjab and Haryana.
Govt is considering listing ONGC on an overseas exchange. ONGC could be listed in Singapore or on the London Stock Exchange.
India’s fuel demand grew 7.36 per cent to 17,057 tonne in July as compared to the corresponding month a year ago, driven by an increase in sales of naphtha, diesel, petrol, aviation turbine fuel (ATF) and pet coke during the month, data from the Petroleum Planning and Analysis Cell of the oil ministry showed.
Indian Oil Corp’s plans to expand its Chennai refinery are not likely to be threatened by the impending U.S. sanctions against Iran, Chairman Sanjiv Singh said on Monday.
Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday.
Indian Oil Corp (IOC), the nation’s largest oil company, plans to invest Rs 20,000 crore in city gas distribution projects in next 5-8 years as it bets big on gas business to complement its traditional oil refining and marketing business, its chairman Sanjiv Singh said today.