India’s Nayara Energy Ltd, part-owned by Russian oil major Rosneft, imported 12% less oil in October from the same month a year earlier, according to data from the shipping industry and sources.
With the rising domestic demand for petrochemicals, ONGC Petro additions (OPaL), a JV between ONGC, Gujarat State Petroleum Corporation and Gail at the Dahej SEZ, is working towards getting the domestic tariff area (DTA) access to gain from the lower tax regime now.
Indian demand for refined products still growing by more than 6% a year, Indian Oil Corp. Chairman Sanjiv Singh says. He speaks with Bloomberg’s Manus Cranny in Abu Dhabi.
The Madras High Court has ordered notice to the Petroleum and Natural Gas ministry and the Director General of Hydrocarbons, Noida, returnable by January 7 on a plea seeking to forebear authorities from implementing Hydrocarbon exploration and methane production project in the Cauvery Delta Area and Cauvery river basin in Tamil Nadu.
Thermal coal imports declined by 17.69 per cent to 51.10 million tonnes at the country’s top 12 major ports during April-October this fiscal, latest Indian Ports Association report has said. The Centre-owned ports had handled 62.08 MT of the thermal coal in the same period previous year.
The coal ministry had offered 27 coal blocks for auction for the sectors like iron & steel, cement and captive power plants but eventually garnered interests for only 6 coal blocks.
The country”s largest public sector refiner and retailer, Indian Oil Corporation (IOC), may consider bidding for the Centre”s stake in Bharat Petroleum Corporation Ltd (BPCL) if such a need arises and the government agrees to reduce the quantum shares on offer in the company, including a waiver from mandatory open offer.
At least two out of the five petroleum products, including aviation turbine fuel or and natural gas, are likely to be among the first set of petro products to be included in the (GST) fold ahead of an earlier agreed schedule.
India, along with China, is among those nations that have good relations with both Saudi Arabia and Iran. This helps them to diversify their oil imports, especially after the US withdrew sanctions waivers for oil imports from Iran.
Bengaluru Losses $ 4.75 Billion Due To Mobility-Crisis; City MPs Seek Early Approval Of Suburban Rail Project From Centre
The standoff is part of a broader conflict in Libya and has raised the prospect of a prolonged output drop from the OPEC member, which had recently been pumping more than one million bpd.