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

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

Union cabinet minister Dharmendra Pradhan on Sunday recommended a proposal under which identified tourist sites or iconic spots will be turned into green zones where vehicles using only eco-friendly fuel will be allowed to ply. He said the proposed project will be the joint effort of the ministry of tourism and the ministry of petroleum Read more

NEW DELHI: State-owned Bharat Petroleum Corp Ltd (BPCL NSE -0.40 %) has been forced to pay for its defaulting partner Videocon NSE -4.35 % Industries Ltd after it had relied on a rarely used model to acquire stake in five oil blocks in Brazil, sources said. In September 2008, BPCL and Videocon Industries had formed Read more

The Road Transport and Highways Ministry has notified regulations for various alternative fuels to further promote sustainable transportation, Union Minister Nitin Gadkari said on Sunday.It is a step toward an alternative clean fuel for transportation, said Gadkari. The Road Transport and Highways Ministry has notified regulations for various alternative fuels to further promote sustainable transportation, Read more

On September 23, 2020, the Petroleum & Natural Gas Regulatory Board (PNGRB) has released a draft regulation for determination of transportation rate for City Gas Distribution (CGD) companies, which came into being before the regulator PNGRB was set up. Earlier, in Jun 2019, the PNGRB had floated a concept paper mentioning two options for determining Read more

SINGAPORE: Indian Oil Corp is seeking gasoline, a tender document showed, making it the second refiner from the country looking to plug a gap caused by low crude runs to curb inflating supplies of diesel and jet fuel, industry sources said. IOC, which does not typically comment on its spot deals, is looking to import Read more

NEW DELHI: India’s efforts to privatise refiner Bharat Petroleum Corp. Ltd. could spill over into the next fiscal year, according to a government document and sources, hurting New Delhi’s efforts to rein in a ballooning fiscal deficit. The privatisation of key companies, including BPCL, is a key part of government plans to pare the fiscal Read more

India is considering a floor price for natural gas produced from local fields to shield explorers like state-run Oil & Natural Gas Corp. as tariff slumps, people with knowledge of the matter said. Shares of explorers gained. The proposal being considered by the oil ministry pegs the price to the popular benchmark Japan-Korea Marker that Read more

Owing to the fall in global gas prices due to higher production and coronavirus-induced low demand, experts feel that the Union government will cut the price of domestic gas by a sharp 17.7% to $1.97 per million British thermal units (mmBtu). The new price will be effective for six months starting October 1. If the Read more

Union Minister of Petroleum and Natural Gas and Minister of Steel Dharmendra Pradhan on Thursday discussed ‘Strategic Energy Partnership’ during video conferencing with Kenneth Juster, the US Ambassador to India, and invited the US companies to engage more intensely in developing the gas infrastructure in India. Informing about the same in series of tweets, the Read more

New Delhi: As much as 53 per cent of India’s oil imports and 41 per cent of gas imports now come from the Arab region which is vital for India’s energy security, according to Sanjay Bhattacharyya, Secretary in the Ministry of External Affairs, MEA, here. “The nature of the energy partnership has evolved from mere Read more

Gas for decentralized power has for long held a lot of promise but somewhat failed to take off. Increased focus on climate change as a topic and historically low gas prices have brought back focus on what’s considered a low hanging fruit towards decarbonizing the economy. For the government, it presents an opportunity to inch Read more

24 Sept. 2020-The CAG also said that as on September 2019, the cost of unfinished minimum work programme for nine blocks is yet to be worked out by Directorate General of Hydrocarbons (DGH).The Centre has awarded 254 blocks under the New Exploration and Licensing Policy (NELP) I to IX rounds for exploration of oil and Read more

24 Sept. 2020-New Delhi, Funds collected by the Centre as cesses for specific purposes, such as the mineral trust, oil industry development and infrastructure, have not been fully transferred to dedicated funds, the Comptroller and Auditor General of India (CAG) said, while pointing out deficiencies in the collection, transfer and utilisation of these levies. In Read more