THE state government on Saturday asked the oil industry to airlift fuel to Kolhapur district for boats and vehicles engaged in rescue work in flood-hit areas.
As Iran’s Islamic Republic enters a fifth decade, its energy industry has little to celebrate. The country’s crude output has yet to recover to pre-revolution levels and is unlikely to do so for many years, even without US sanctions.
India has been a major beneficiary of the fall in international crude oil prices over the past few years. But crude prices have been rising for some time and Brent crude has already touched a 41-month high of $75 dollar (Rs 5,000) per barrel.
The United States Will Dominate The Oil Industry For The Next 5 Years, International Energy Agency Forecasts
Oil demand will keep expanding over the next five years, and the United States will fulfill most of the world’s growing appetite, the International Energy Agency said on Monday.
Union minister Dharmendra Pradhan today said responsible pricing is key for the growth of the global oil industry as consumers in countries like India are price sensitive.
Oil Industry body Federation of Indian Petroleum Industry (FIPI) in a letter to the Finance Ministry has appealed for a reduction in Oil Industry Development (IOD) Cess to 8 per cent of the realized price of crude oil from the current 20 per cent.
China’s economy is slowing, and India is growing. But Russia will not be able to use these changes in order to increase exports.
Decks are cleared for the ONGC-HPCL merger with the Cabinet giving the go-ahead on Wednesday. While the government mops up roughly Rs 26,000 crore, or 40 per cent of its FY18’s disinvestment target, ONGC-HPCL will now have presence in the entire value chain.
Every three years since 1933, barring a brief hiatus during hostilities of World War II, the great and good of the oil and gas business have been holding their triennial jamboree – the World Petroleum Congress (WPC) – often dubbed the ‘Olympics of the Oil and Gas business’ by analysts.
Union Petroleum Minister Dharmendra Pradhan on 21 June said implementation of GST will substantially benefit Odisha with the taxing point shifting from production base to consumption.