India is aiming to cut its oil products imports to zero as it turns to alternative fuels such as methanol in its transport sector, a government official said at an investor briefing on Monday.
The much-awaited Rs 42,000-crore Barmer refinery in Rajasthan by state-run Hindustan Petroleum Corporation Ltd (HPCL) may get a fresh lease, as the ministry of petroleum and natural gas may sign a fresh memorandum of understanding with the Rajasthan government this week with revised fiscal package for the project.
The oil market is tipping slowly from glut to equilibrium, as output cuts from Organization of the Petroleum Exporting Countries (Opec) and 11 non-Opec countries start to reduce crude flows.
Petroleum minister Dharmendra Pradhan today expressed hope that all petroleum products will soon be part of goods and services tax.
Domestic coal gas can be used as a feedstock for producing urea and other chemicals that can help reduce the country’s import bill by $10 billion in five years and cut carbon emissions, a top official said.
The Indian Oil Corporation (IOC) has agreed in principle to provide technical support to the Nepal Oil Corporation (NOC) for building petroleum storage plants in all seven provinces.
Renewed drilling by US oil producers is keeping a ceiling on a global crude price recovery, cutting into the impact of deep reductions by other major producers, OPEC said Monday.
City gas distribution (CGD) networks and pipelines for carrying natural gas and petroleum are essential facilities. Laying of CGD network
In the Budget for 2017-18, Finance Minister Arun Jaitley said the government proposes to create an integrated public sector oil major
The pact assumes immense significance for an oil importing nation like India and one that feeds 80% of its crude oil needs through imports. The underground strategic storages have been built at different locations across India and filling half of the oil storage facility at Mangalore amounts to 10 days of India's average oil demand (or about 37 million barrels of crude oil).
In what will help towards India’s energy security goals besides building a strong bond with the United Arab Emirates (UAE), India on Wednesday inked a significant pact with the energy rich Gulf nation on oil storage and management.