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
Category: Oil & Gas
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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.
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J&K govt mulls ordinance to begin pipeline project
According to media reports, the Jammu and Kashmir government plans to introduce an ordinance for beginning work on the Bhatinda-Jammu-Srinagar gas pipeline project. It may be noted that the Gujarat State Petronet (GSPL), a subsidiary of Gujarat government, secured the
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BPCL set to begin work on refinery project
Bharat Petroleum Corporation (BPCL) is set to begin work on the Rs 14,000-crore integrated refinery expansion project at its Kochi facility. BPCL roped in LG Chemicals of South Korea as its joint venture partner for the petrochemicals complex, whic
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India depends less on Iran for crude oil
Reports suggest that India's dependence on Iran for oil import has been declining from 13 percent some years ago. India imported 18.11 mn t oil from Iran, which is less than 21.20 mn t imports in 2009-10 and 18.50 mn t in 2010-11. During April-November 2012, the country imported 118
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Cabinet panel to decide on proposal to raise LPG cap
Media reports suggest that the Cabinet Committee on Economic Affairs would decide on the proposal of the oil ministry to raise the cap of the cap on supply of subsidised cooking gas (LPG) cylinders per household per year to nine. In September 2012, the government limited the subsi
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Ministry proposes gradual hike in diesel prices
In order to reduce the impact of fuel subsidy on government's fiscal deficit, the petroleum ministry proposed a gradual rise in diesel prices, by 1 per litre every month over a 10-month period. It is expected that the gradual rise may avoid controversy engendered by steep hikes in infrequent revisi