15 Sept 20-NEW DELHI/SINGAPORE: Indian Oil Corp will expand its petrochemicals capacity and integrate it with its textile business to help offset the impact of low refining margins, the chairman of India’s largest refiner said on Monday. “We see petrochemical integration as the way forward…Petrochemicals gives us that ability to de-risk from low cracks (refining…

15 Sept. 20-New Delhi: India’s crude oil import bill fell to a third in the first four months of the current fiscal after international oil rates nosedived on-demand evaporating due to the outbreak of the Coronavirus pandemic and ensuing lockdowns, Petroleum Minister Dharmendra Pradhan said on Monday. India spent $12.4 billion on importing 57.2 million…

15 Sept. 2020-New Delhi : The Petroleum and Natural Gas Minister Dharmendra Pradhan on Monday said that under the Pradhan Mantri Ujjwala Yojana (PMUY), the target of 8 crore new LPG connections has been achieved and Oil Marketing Companies (OMCs) issued 1306.87 lakh LPG refills to PMUY beneficiaries under Pradhan Mantri Garib Kalyan Package (PMGKP)…

15 Sept. 20-India’s exponential growth in energy demand in coming years will mean the country will still need to expand oil refining capacity, while embracing cleaner fuels like natural gas, hydrogen and renewables, Shrikant Madhav Vaidya, chairman of Indian Oil Corp, told the S&P Global Platts Asia Pacific Petroleum Virtual Conference Sept. 14. While the…

14 Sept 20-CAIRO: The US Embassy in Libya said Libyan commander Khalifa Hifter agreed to reopen key oil fields and terminals no later than Saturday, a move that could advance talks between the country’s warring sides closer to a political settlement to the yearslong conflict. Powerful tribes in eastern Libya loyal to Hifter have kept…

14 Sept 20-Kolkata: Major exploration and production (E&P) companies in the oil and gas sector of the country are increasing their exposure in digital technology to sustain operations in COVID-19 time, experts said on Friday. Adoption of the digital route has now become important for the sustainability of operations, maintenance and also in keeping liquidity,…

14 Sept. 20-Prime Minister Narendra Modi said Bihar’s administration has been exemplary in making sure that government schemes reach the common people.He said, “In the last 15 years Bihar has shown that if the right government is elected in a state, benefits of government’s schemes can reach its people.” PM Narendra Modi inaugurated the three…

14 Sept 20-The Union Environment Ministry has simplified the oil exploration rules to allow mining companies to pay fees for the land affected by each borehole and not for the total leased out forest area, thus making oil mining in forest cheaper and easier. The norms were revised at the ministry’s Forest Advisory Committee (FAC)…

14 Sept. 20-Domestic gas prices are set to fall significantly from October because of a slump in global prices, raising a question mark on the pricing formula as it challenges the operational viability of oil firms and hurts investment sentiment in the exploration and production sector. Gas producers have sought a review of the pricing…

Union minister of petroleum and natural gas Dharmendra Pradhan said on Thursday that the government aims to have 10,000 retail outlets of compressed natural gas (CNG) in the next five years as the country plans to increase the share of gas in its energy basket. Pradhan was speaking at an online event where he inaugurated…