Daily Archives: June 29, 2020

Norway wants more renewable power for oil platforms, major industry

OSLO, Norway could cut its carbon dioxide emissions by 4 million tonnes per year, or nearly 8% of the total, by providing more renewable electricity for major industrial plants and offshore oil and gas platforms, two government agencies said on Friday. While Norway is a major producer of petroleum, it has also signed up to…

DGH cuts time from discovery to production; eases rules

New Delhi: India’s upstream oil regulator DGH has pruned processes and procedures to allow oil and gas finds to be put into production soon after they are discovered. Issuing guidelines for early monetization of hydrocarbon discoveries, the Directorate General of Hydrocarbons (DGH) said companies can straight away start commercial production from any oil and gas…

Government permits faster monetisation of oil and gas discoveries

New Delhi: The government has allowed companies to monetise oil and gas discoveries without undergoing the time-consuming procedure of government approvals for field development plans and other bureaucratic process. “There are no restrictions on monetization of discovery at an early stage within these timelines (provided under the contracts); rather it would be in public interest…

India to end federal control of gas prices, lift LNG transport use

NEW DELHI: India will gradually end federal controls on gas pricing as it seeks to attract foreign investment and technology to lift local output, oil minister Dharmendra Pradhan said on Friday. India, which is a large emitter of greenhouse gases and has multiple gas pricing regimes, aims to raise the share of gas in its…

IOC and Sun Mobility to install battery swapping stations for Evs

Indian Oil Corporation Ltd – country’s leading oil marketing company – on Friday announced collaboration with Sun Mobilty, to install lithium-ion battery swapping stations for electric vehicles in fuel stations across the country. First such battery swapping station was installed at one of IOC’s fuel station in Chandigarh. Lack of charging stations has been a…

No going back on BPCL privatisation: Pradhan

New Delhi: Oil Minister Dharmendra Pradhan on Friday said there is no going back on the decision to privatise the country’s largest oil marketing company BPCL in view of the slump in global energy prices. Speaking at the BNEF Summit, he however said the timing of the privatisation would be decided by the finance ministry.…