NATIONAL NEWS

29 October – BP, Total bet big on India energy market amid Covid disruption

  NEW DELHI: British energy major BP is looking at expanding its footprint in India’s fuel retail and mobility solutions market as the world bets on the third-largest economy in terms of purchasing power to lead the recovery in energy demand in the post-Covid scenario. According to BP chief executive Bernard Looney, the company’s joint Read more

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29 October – Indian refiners bet on petrochems to hedge against low fuel marg

ins Indian refiners have turned their focus to raising production of petrochemicals to cater for rising demand and help hedge against lower refined fuel margins, the country’s oil secretary and company officials said on Wednesday. “We need more petrochemicals because that’s what we are importing at the moment,” Oil secretary Tarun Kapoor said at the Read more

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29 October – US LNG developers eye shorter contracts to lure India buyers: energy secretary

  The first wave of major liquefaction terminals that have started operations along the Gulf and Atlantic coasts since 2016 or are currently under construction primarily used 20-year take-or-pay contracts to finance the billions of dollars in costs to build. Over the last two years, and accelerating in recent months due to market disruptions from Read more

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28 October – UAE’s ADNOC explores more crude storage in Indian strategic oil reserves

  New Delhi, UAE’s largest oil producer, the Abu Dhabi National Oil Company (ADNOC) on Tuesday said that it is interested in storing more oil in India’s strategic petroleum reserves to boost energy ties with world’s third largest oil consumer. ADNOC is the only overseas company so far that has crude stored in Indian caverns. Read more

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28 October -How ExxonMobil is helping unlock LNG’s potential for India

  India’s transformation on the world energy stage is a study in speed and scale. The country’s population of 1.3bn is expected to grow to over 1.5bn this decade, overtaking China as the world’s most populous nation. Not only will there be more Indians, but Indians will be doing more as the nation’s economy harnesses Read more

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28 October – Al Kaabi- LNG is ideal fuel for India

  Doha- Minister of State for Energy Affairs, the President and CEO of Qatar Petroleum (QP), H E Saad Sherida Al Kaabi, took part in a virtual interaction session with Prime Minister of India, Narendra Modi, for a discussion of various aspects of India’s energy sector. The session, which was held on the sidelines of Read more

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28 October – UAE’s ADNOC explores more crude storage in Indian strategic oil reserves

  New Delhi, UAE’s largest oil producer, the Abu Dhabi National Oil Company (ADNOC) on Tuesday said that it is interested in storing more oil in India’s strategic petroleum reserves to boost energy ties with world’s third largest oil consumer. ADNOC is the only overseas company so far that has crude stored in Indian caverns. Read more

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Govt mulls extending soft loans to grain-based distilleries for raising ethanol production capacity

    New Delhi: To boost ethanol production in the country, the government is considering extending subsidised loans to grain-based distilleries also under the ongoing scheme, according to government sources.   The sources said both the petroleum and food ministries are of the view that ethanol production cannot be dependent on one feedstock, that is, Read more

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PM Narendra Modi interacts with CEOs of leading oil & gas companies

    New Delhi: Prime Minister Shri Narendra Modi today interacted with CEOs of leading oil & gas companies in the annual event organized by NITI Aayog and Ministry of Petroleum and Natural Gas.   During the interaction, Prime Minister highlighted that energy is at the centre of human development, which is why conversations around Read more

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Govt puts gas under standard bidding route for transparent price discovery

In a big reform initiative, the government on Wednesday decided to put domestically produced gas under a standard price discovery mechanism to help scale up local production from fields of ONGC, OIL, Reliance and Vedanta and help create a uniform gas market. Accordingly, the Union Cabinet approved a standard e-bidding procedure for market-based price discovery Read more

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Indian Oil to launch cost-effective aluminium-air batteries for EVs

State-run Indian Oil Corporation (IOC) is planning to launch first-of-its-kind aluminium-air batteries that are potentially a more cost-effective alternative to lithium-ion batteries for use in electric vehicles (EV) and stationary applications. The idea is to manufacture these barriers in sites closer to demand centres such as Chennai or Pune. IOC bought a minority stake in Read more

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Business environment for City Gas Distribution at its best: D K Sarraf, PNGRB

New Delhi: The business environment for City Gas Distribution (CGD) companies in India is at its best currently with the government and the regulator pushing for creation of supporting infrastructure and market reforms, D K Sarraf, Chairperson of downstream Oil & Gas regulator Petroleum & Natural Gas Regulatory Board (PNGRB) has said. “The business has Read more

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Govt may consider halving cess on domestic crude

New Delhi: The government may give a ‘Make in India’ push to oil and gas explorers, as it is considering a proposal to halve cess on domestic crude oil to encourage exploration activity and allow Covid-hit oil producers to protect their margins at a time when a glut in the market and suppressed demand is Read more

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Strategic Energy Partnership emerged as cornerstone of expanding India-US ties: Envoy

Washington: Strategic Energy Partnership has emerged as a cornerstone of expanding the US-India ties as the bilateral hydrocarbon trade has increased by 93 per cent in the last two years, a top official has said. India’s Ambassador to the US Taranjit Singh Sandhu, in an op-ed in The Houston Chronicle, wrote that numbers speak for Read more

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Maharashtra sugar factories asked to cut down output, focus on ethanol

AURANGABAD : A top sugar federation in Maharashtra is encouraging factories to cut down on production of the sweetener in view of its surplus stock and instead focus on ethanol production.This will also help sugar factories in overcoming their losses, Maharashtra State Co-operative Sugar Factories Federation Chairman Jayprakash Dandegaonkar told PTI. The country produces about Read more

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