The 2,426 mmscm of natural gas produced in December was however the highest monthly output recorded in the ongoing fiscal, with the commencement of production from Reliance Industries (RIL) and BP’s ultra-deep-water field in the KG D6 Block of the Krishna Godavari basin on the east coast of India.   Domestic natural gas production…

  LNG shipping rates from U.S. surge to record highs on Asia buying boomLONDON: The cost of shipping liquefied natural gas (LNG) from the United States to Asia hit a record high on Tuesday as appetite for the fuel from buyers there and delays through the Panama Canal reduced the amount of ships for hire.…

  Waiting for days to get delivery of liquefied petroleum gas (LPG or cooking gas) cylinder may soon be a thing of the past. Indian Oil Corporation (IOCL) is planning to roll out a Tatkal LPG Seva in a bid to ensure that consumers get cooking gas cylinder on the day it is booked.  …

  On 6 May 2017, The Economist newsweekly published an article that inserted itself into the zeitgeist like nothing that venerable publication had ever published before. It was titled ‘The Worlds Most Valuable Resource is No Longer Oil, But Data’, and dealt for the most part with the antitrust implications of Big Tech. So visceral…

  Emphasising on zero carbon emissions to get rid of pollution in cities, Amitabh Kant, CEO, NITI Ayog, on Monday said India’s energy growth story will be driven by renewable energy in the coming future.   “After the industry and residential sector, the transportation sector is the third-largest energy consumer. In India, 17% of which…

  Petroleum Secretary Tarun Kapoor believes that a large number of products, which are used in the oil and gas sector, and are imported at present, should be manufactured in India.   “We are looking at a large number of products which are currently being imported. We want them to be made in India. We…

  yMumbai: Blending 20 per cent ethanol with petrol can help create economic activity of over Rs 1 lakh crore every year in the country and save precious foreign exchange, Union Petroleum Secretary Tarun Kapoor said on Monday. Currently, the petrol sold in the country has above 5 per cent of ethanol, a bio-fuel extracted…

  The government plans to offer viability gap funding (VGF) to attract bidders for the second phase of Indian Strategic Petroleum Reserves, which will add 12 days of crude oil storage, two government officials aware of the matter said. The move is part of India’s efforts to enhance energy security.   The second phase will…

  Mumbai,  The domestic demand for petroleum products is expected to increase at a healthy rate of 8 to 10 per cent in FY22 on a year-on-year basis, ratings agency ICRA said in a report.Accordingly, the report said a growth in economy and pick-up in industrial activity.   The report explained that growth in Motor…

  India’s petroleum consumption fell for the first time in more than two decades in 2020 as the coronavirus pandemic shuttered businesses and factories, hurting demand from one of the world’s largest users of the fuel.   Total petroleum demand declined 10.8% last year from 2019, and was at a five-year low of 193.4 million…