The request of the Jammu and Kashmir government to state-run oil marketing companies (OMCs) to open new gas agencies at 1,800 locations was rejected by these firms. Instead, OMCs identified only 102 locations for new gas agencies across the state. It is learnt that twice these companies rejected the state governmentĂâs proposal
Category: Oil & Gas
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PPAC cuts growth forecast of fuel sales
Data released by the Petroleum Planning and Analysis Cell (PPAC) shows that fuel sales in the country may grow 5.2 percent in 2012-13, down from its earlier projection of 6.1 percent. In 2011-12, the sales grew 5 percent and the country consumed 148.13 million tonne of fuel, data show
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IOC says Paradip project attains 90% progress
MM Vijaywargiya, Executive Director of Indian Oil Corporation (IOC) informed reporters that the Paradip Refinery Project (PDRP) achieved about 90 per cent progress so far and is expected to be commissioned in phases from September, 2013. Once commissioned, the refinery could produce 5.97 mn t diesel, 3.4 mn t petrol, 1.45 mn t kerosene, 536,
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Ethanol blending in petrol may reduce oil import
Some analysts feel that making using ethanol-blended petrol would reduce the import of crude oil in the country, thereby saving precious foreign exchange. The government has already made it mandatory for doping of petrol with at least five per cent of ethanol across the country to save around 100 crore litre of fuel annually
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India, China to contribute considerably to rise in oil demand
Prime Minister Manmohan Singh remarked that India and China may account for a major part of the increase in global demand for crude oil. He said this at the launch function of National Electric Mobility Mission Plan 2020. In order to reduce transport sector's dependence on oil, Singh emphasised on the need for development of el
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IOC not in favour of govt proposal
State-run fuel retailer IndianOil Corporation (IOC) is not in favour of the government's suggestion to merge the pipelines and aviation assets of all the three public sector oil marketing companies (OMCs). IOC does not like the the government interfering in these matters since these are commercial decisions. A top o
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Shift to export parity pricing may hit OMCs
According to a latest report by Emkay Global Financial Services, the proposed move by finance ministry to calculate refinery gate price based on export parity pricing may adversely affect oil marketing companies (OMCs). Presently, refinery gate price, or the price at which products are transferred from refining to marketing, is calc
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GAIL commissions 5 mn t LNG terminal
BC Tripathi, Chairman of Gail India informed that it has commissioned the 5 million tonne capacity liquefied natural gas (LNG) terminal at Dabhol facility in Maharashtra. He also informed that the firm plans to double its capacity by 2016 in a phased manner. Initially, the firm wou
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Contract opportunities in exploration segement
Exploration and production segment in oil and gas sector holds tremendous business potential in India given the rising demand for crude oil and natural gas in the country. According to one estimate, oil consumption in the country may expand 4-5 percent per annum to 2015, indicating a demand of 4.01 million barrels per day by 2015 from the present level of around 3 mn barrels per day.
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Contract opportunities in LPG sector
According to a government report, India is the fourth largest consumer of liquid petroleum gas (LPG) in the world after USA, China and Japan and the consumption grows steadily at 8 percent per annum. It is the third largest consumer of LPG in domestic sector in the world after China and the USA. Domestic sector is the major market of LPG in the country.