Essar Oil, the top Indian buyer of Iranian oil, in June cleared $500 million of a debt owed to Tehran, two sources with direct knowledge of the matter have said.
Category: Oil & Gas
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Essar Group eyes sale of Gujarat refinery | Sources
Essar Group is exploring the sale of its 405,000 barrel-per-day oil refinery in Gujarat, as the conglomerate seeks funds to reduce its debt, two sources familiar with the matter said.
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Urban toilet mission falls way short of target
In what should come as a wake-up call for the government, construction of household toilets in urban areas in 2015-16 achieved just 54 per cent of the target.
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Shutting Out Noise
HVAC equipment for a building is one of the major sources of interior noise, and this noise comes from the main fans, flow of air through the system, and flow through diffusers.
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Cairn India reports quarterly loss; reaffirms potential in Rajasthan block
Cairn India reported a quarterly loss of Rs.10,948 crore for the March quarter, primarily led by impairment loss on goodwill and non-producing oil and gas assets due to a drop in oil prices.
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ONGC to invest $5 bln in KG Basin
State-run Oil and Natural Gas Corporation (ONGC) has unveiled a Rs.34,000 crore ($5 billion) long-delayed investment plan to develop its KG Basin fields. This will help boost ONGC's oil and gas output by a fifth in about four years.
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Panel to review Odisha-IOC pact
The Odisha Government said a committee has been set up under the Chairmanship of the Secretary of Petroleum and Natural Gas Ministry to review its agreement with Indian Oil Corporation.
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Strategic petroleum caverns to be ready by May
The Indian Strategic Petroleum Reserve Ltd (ISPRL) will complete construction of the caverns in Mangaluru and Padur by March and May 2016 respectively.
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GAIL, IOL team to visit Iran in March for gas pipeline
The long proposed $4.5 mln undersea gas pipeline between Iran and India is likely to get some momentum.
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IndiaĆĀ“s oil demand to be highest: IEA
According to the IEAĆĀ“s World Energy Outlook-2015 report, IndiaĆĀ“s oil demand is projected to grow by 6 mln barrels per day (mb/d) from 3.8 mb/d in 2014 to 9.8 mb/d by 2040.