Local fleet owners are resisting a move by state-run oil refiners seeking government approval allowing them to buy as much as 35 per cent of their annual crude imports on a cost, insurance and freight (cif) basis.
Officially, capital spending by the 11 public sector units (PSUs) in the petroleum sector was an impressive Rs 1.11 trillion in the first 11 months of this financial year.
State-owned Oil and Natural Gas Corp (ONGC) may buy out gas utility GAIL India Ltd in its Dahej mega petrochemical project in Gujarat to take full control of the recently commissioned plant.
Petroleum Minister Dharmendra Pradhan has said that Mangalore Refinery and Petrochemicals Ltd will come out with BS6 standard diesel by March 2019 and BS6 petrol by December that year.
Steady conditions prevailed at the wholesale oils and oilseeds market today as prices of edible and non-edible oils moved in a narrow range on alternate bouts of trading and settled around previous levels.
The response to international competitive bids for 55 oil and gas blocks under the Open Acreage Licensing Policy has been tremendous, according to the Director-General of Hydrocarbons, Atanu Chakraborty.
Consumers may have to pay more for using natural gas (CNG) and cooking gas (PNG, or piped natural gas) from next month as the benchmark price for natural gas produced from domestic fields is expected to hit a two-year high during the six-monthly revision due on April 1.
Asia’s oil and gas producers are starting to revive projects aimed at deflating years of ballooning energy imports after new investment dried up following the 2014 industry crisis.
India has proposed to build a pipeline from the country’s east coast to deliver oil products, mainly diesel, to Myanmar, a Myanmar government official said on Friday.
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, may have to bear an impact of Rs 4,200 crore per annum due to non-availability of input tax credit under Good Service Tax (GST) on procurement of services and capital goods, oil minister Dharmendra Pradhan said.