A consortium of Indian companies led by ONGC Videsh (OVL) is likely to acquire a 49 per cent stake in Russia’s Vankor cluster oilfields owned by Rosneft by February 2018.
The country’s largest petroleum retailer, Indian Oil Corporation, sees robust growth in liquid fuel demand despite the challenge from electric vehicles.
State-owned explorer ONGC Ltd could borrow about Rs 25,000 crore to acquire downstream refiner HPCL, which will create the country’s first integrated oil and gas company.
Private players such as Reliance Industries and Essar owned by Russia’s Rosneft have tripled the number of petrol and diesel outlets in India in the last two years
Indian Oil Corporation (IOC) and Bharat Petroleum Corporation Limited (BPCL) have placed orders for 2 million barrels of crude from the US and the first shipment of US crude oil arrived at Paradip Port in Odisha
Already hassled by the skyrocketing prices of petrol and diesel, citizens are likely to suffer one more jolt as the city will soon have to depend on fuel supply by trucks from Bhopal instead of the usual large railway wagons
Centre To Launch LPG Panchayats To Increase Use Of Clean Fuel, Distribute Gas Connections In Villages
The Central government will on Saturday launch a country-wide LPG Panchayat as a backup to the Pradhan Mantri Ujjwala Yojana to distribute LPG connections in the rural areas where conventional fuel is used for domestic purposes, an official said.
LPG (Liquefied petroleum gas) price on Friday was increased over Rs 7 per cylinder. With this, the orders of government are being followed which states the price of cooking gas should be increased per month so that subsidies would be hammered down by this fiscal-end.
State-owned Indian Oil Corporation has initiated a massive capacity expansion of its gas and piped natural gas networks in urban areas, Chairman Sanjiv Singh said at the company’s 58th AGM, in Mumbai on Tuesday.
Buoyed By Resolution of Tax Dispute, IOC Plans Additional Investment of Rs 52K crore In Paradip Refinery
IOC and the Odisha government have agreed on modalities to resolve the tax dispute following intervention from petroleum minister Dharmendra Pradhan. As part of the understanding reached between the two sides, the Odisha government has agreed to restore part of the tax incentives.
With formal resolution of tax dispute relating to its Paradip refinery now being just a matter of time , the oil PSU plans to invest additional Rs 52,000 crore in expanding capacity of the project and setting up petrochemical complex.