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 Read more

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 Read more

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) Read more

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 Read more

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 Read more

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, Read more

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 Read more

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) Read more

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 Read more

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 Read more

New Delhi: The Auto LPG industry has sought alignment of India’s type-approval norms for retro-fitment of LPG/CNG kits in automobiles with European standards, saying the prevalent norms were a major impediment to clean air goal. India Auto LPG Coalition, the apex body of autogas sellers in India, has written to Dinesh Tyagi, Director International Centre Read more

Prime Minister Narendra Modi will dedicate to the nation three key petroleum projects sector in Bihar on September 13, via video conferencing. The projects include the Durgapur-Banka section of the Paradip-Haldia-Durgapur Pipeline augmentation project and two LPG bottling plants. They have been commissioned by IndianOil and HPCL, PSUs under the aegis of the Ministry of Read more

In a yet another push to attract investments and to give an advantage to domestic manufacturing, department of chemicals and petrochemicals (DCPC), under the aegis of ministry of chemicals and fertilizers on Friday has circulated a draft cabinet note to incentivise investments made in petroleum, chemical and petrochemical investment region (PCPIR). Sources privy to the Read more

Union Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan on Thursday dedicated 56 CNG stations to the nation. These CNG stations are in 13 states and one UT-Chandigarh, Bihar, Gujarat, Haryana, Jharkhand, Kerala, Madhya Pradesh, Maharashtra, Punjab, Rajasthan, Uttar Pradesh, Uttarakhand, West Bengal, and Andhra Pradesh, Ministry of Petroleum & Natural Gas in Read more

Fuel demand had slumped by a record 48.6 per cent in April to 9.4 million tonnes as the government imposed a nationwide lockdown in an attempt to curb the spread of coronavirus. The decline in August was the sixth consecutive year-on-year slide. India’s fuel demand in August posted its biggest decline since April as local Read more