New Delhi: Shri Dharmendra Pradhan deeply appreciates the efforts of our Ambassador in Israel Sanjeev Singla for following up on the MoU between IOCL and Phinergy, an Israeli startup company, signed in July 2017 during the visit of Hon’ble PM Shri Narendra Modi to Israel to collaborate in new clean energy technologies.   He Read more

  New Delhi: The government proposes to appoint independent operators of gas pipelines in the country to operationalise the common carrier principle that will allow all consumers and producers access to fuel transport infrastructure. Petroleum Secretary Tarun Kapoor told IANS that the ministry was taking approvals for segregating the existing gas pipeline infrastructure to identify Read more

  Domestic natural gas production fell 11.4% year-on-year (y-o-y) to 27,642 million metric standard cubic metre (mmscm) in 2020 as operations became increasingly unviable for energy production companies with government lowering selling prices. The 2,426 mmscm of natural gas produced in December was however the highest monthly output recorded in the ongoing fiscal, with the Read more

Saudi Arabia has hinted in a recent public discourse that it will cut down oil production in February 2021 to stabilise market prices. This is a unilateral action in an otherwise tense geo-political scenario, where Russia and Kazakhstan have declared they will increase their output, in a reluctance to cede market share to the United Read more

  SINGAPORE/NEW DELHI: Top oil exporter Saudi Arabia has cut supplies of February-loading crude for at least three Asian buyers while meeting requirements of at least four others, several refinery and trade sources with knowledge of the matter said on Wednesday.   This comes after Saudi Arabia pledged additional voluntary output cuts of 1 million Read more

  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 Read more

  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. Read more

  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.   Read more

  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 Read more

  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 Read more

  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 Read more

  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 Read more

  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 Read more

  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 Read more

  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 Read more