Hindustan Petroleum Corp Ltd (HPCL) and GAIL India Ltd have signed a pact with Andhra Government for setting up a Rs 40,000 crore petrochemical plant in the state.
Category: Oil & Gas
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GAIL plans to raise Rs 750 crore through bonds issue
GAIL (India) Ltd is planning to raise Rs 750 crore in bonds via private placement to finance its ongoing projects. The company has decided to issue non-convertible bonds of up to Rs 750 crore with an option to double the issue size via private placement in one or more tranches, GAIL said in a statement.
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India signs pact with UAE to boost oil reserves
India has signed a deal with the United Arab Emirates, allowing the Gulf nation to fill the countryÂ’s strategic storage facility in southern India.
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Cairn India gets nod for drilling 64 exploratory and appraisal wells
A committee under the Ministry of Environment, Forests and Climate Change has given the green signal to Cairn India for undertaking drilling works of 64 exploratory and appraisal wells in KG-OSN-2009/3 block in KG basin at Prakasam and Guntur districts of Andhra Pradesh.
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India’s oil demand growth rate to eclipse China’s
Oil consumption in India is expected to be 7-8 per cent this year, outpacing China's demand growth for the third consecutive year, as impact of demonetisation is likely to be short-lived, according to Platts.
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BPCL raises $600 million through bond sale
BPCL has raised $600 million by selling 10-year dollar bonds to investors in Asia and Europe. BPCLÂ’s Singapore arm BPRL International Singapore Pte Ltd raised the money at 200 basis points above the 10-year US treasury which came to around 4.375per cent. The bond was raised at a rate which is among the best in 10 years. This issue is also expected to open the door for more Indian companies to raise money.
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Petronet LNG expects 40% capacity utilisation at Kochi terminal by 2019
Petronet LNG expects its 400-km pipeline connecting the Kochi LNG terminal in the south to industries further north to be ready in two years, according to Managing Director Prabhat Singh. Petronet LNG is IndiaÂ’s biggest gas importer.
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2016 fuel sales growth highest in 16 years
The countryÂ’s fuel demand in 2016 grew at its highest pace in at least 16 years as low oil prices for most of the year boosted demand for gasoline and aviation fuels.
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Engineers India bags orders worth Rs 2,500 crore from HPCL
Engineers India has bagged orders from HPCL for execution of the Vizag Refinery Modernisation Project (VRMP). EIL will execute the project contract under two separate contracts, PMC Services for major Process Units and packages under U&O and Execution of U&O and PRU Revamp on Open Book Estimate (OBE) Basis.
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HPC-led Skill Development Institute partners with NSDC under Skill India
Under the government´s Skill India mission, oil PSUs have initiated skill development initiatives for unemployed youth. Oil PSU members, viz., HPCL, IOCL, BPCL, ONGC, OIL, GAIL, EIL and Balmer Lawrie have come together to set up a Skill Development Institute in Visakhapatnam (SDI-Vskp).