“Moving our focus towards the global scenario, we see a gradual shift from depleting, conventional reserves to unconventional sources like offshore, deep seas, at remote locations and armed with new technologies, like hydraulic fracking and horizontal drilling for heavy oil, oil sand and tight oil. These practices are more expensive and pose greater safety and environmental risks,” the minister added.
Union minister of state for petroleum and natural gas Dharmendra Pradhan said sound policy initiatives, sustained investments, regional and international cooperation will help the industry make strides in adopting new technology, finding and unlocking new supplies, and in a responsible and sustainable way be the partner in progress of all nations.
PM Modi said his government’s constant efforts have improved India’s ranking in Ease of Doing Business and that India has always been an inspiration for others in terms of intellectual capability and enterprise.
With India committed to replace ‘Red Tape’ with ‘Red Carpet’, Prime Minister Narendra Modi on Monday called upon global hydrocarbon companies to come and Make in India.
As the prime showcase of India's hydrocarbon sector, the three-day mega event will see participation of over 100 eminent speakers and 6,000 delegates from 68 countries, including technologists, scientists, planners and policy-makers, management experts, entrepreneurs, service-providers and vendors. Along with the Conference being held at Vigyan Bhawan, the event will have a concurrent Exhibition spread over 15,000 square metres at Pragati Maidan.
Preparations for the upcoming PETROTECH-2016, 12th International Oil & Gas Conference and Exhibition were
Through this short post, we seek to examine the current downtrend in oil prices, and what it means from an Indian context. As in any downtrend, the intent ought to be to maximise opportunities and isolate effects of any threats and the author accordingly seeks to analyse how these threats may be turned into opportunities.
India may turn into a net importer of fuel oil as its state-owned refiners are making multi-billion dollar investments to upgrade their refineries and produce more profitable refined products such as gasoline or diesel.
The Ethanol Blended Petrol (EBP) Programme was launched by the Government in 2003 which has been extended to the Notified 21 States and 4 Union Territories to promote the use of alternative and environment friendly fuels. This intervention also sought to reduce import dependency for energy requirements.However, since 2006, OMCs were not able to receive offers for the required quantity of ethanol against the tenders floated by them due to various constraints like State Specific issues, Supplier related issues including Pricing issues of ethanol.
The CCEA has approved the mechanism for revision of ethanol price for supply to state-owned OMCs) for smooth implementation of their Ethanol Blended Petrol (EBP) Programme. It has been decided that for the next sugar season 2016-17 during ethanol supply period from 1st December, 2016 to 30th November, 2017, the administered price of ethanol for the EBP Programme will be Rs.39/- per litre.
The Centre currently has a dedicated team of over 80 scientists. The centre is recognized by The Department of Scientific and Industrial Research (DSIR) and has collaborations with research institutes in India and abroad.
Union Minister of State (I/C) for petroleum and natural gas Dharmendra Pradhan dedicated the new Green R&D Centre of state-owned HPCL in Devengunthi, Bengaluru to the nation on 14th October, 2016.
In a first time ever, the Cabinet Committee on Economic Affairs approved Capital Grant of 40%, amounting to Rs. 5,176 Crores over 5 years, for the pipeline project, to be implemented by GAIL at an estimated capital outlay of Rs. 12,940 Crores. This is the first time ever that Central Government has approved capital Grant for a Natural Gas pipeline project.
In a major step towards the construction of the Jagadishpur-Haldia-Bokaro-Dhamra Natural Gas Pipeline (JHBDPL), GAIL (India) Ltd has approved placement of orders for pipeline laying work of 345 km from Phulpur to Dobhi under Phase-IB at an estimated cost of Rs 306 crore. The order is for two sections to be executed simultaneously by JSIW Infrastructure Pvt. Ltd. and IL&FS Engineering & Construction Co. Ltd Laying works under phase-IB shall commence by the end of October, 2016 and targeted to be completed by December, 2018.
In line with the Modi government’s initiative — ‘Start-up India, the country’s leading public sector oil companies including the Oil and Natural Gas Corporation (ONGC), Indian Oil and Oil India Ltd (OIL) have announced start-up funds, the combined corpus of which has already reached Rs 180 crore.