Union Minister for Petroleum and Natural Gas Marpadi Veerappa Moily has stated that work on the new LNG (liquefied natural gas) import terminal at Mangalore will begin in next November. A feasibility study on the terminal is being carried out by a consortium of ONGC, BPCL, Mitsui and New Mangalore Port Trust (NMPT).
Category: Oil & Gas
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Rajasthan to get refinery-cum petrochemical complex
The Union Cabinet has recently approved the proposal of Hindustan Petroleum Corporation (HPCL), a Public Sector Undertaking to set up a 9 mmtpa greenfield Refinery cum Petrochemical Complex in Barmer District in Rajasthan, as a Joint Venture (JV) with Government of Rajasthan under the name HPCL-Rajasthan Refinery Limited( HRRL).
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India to build its 1st oil storage facility soon
To insulate itself from oil supply disruptions, India will build its first strategic oil storage facility by January,
Union Oil Minister M Veerappa Moily has said on September 28. India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store about 5.33 million tonne of crude oil, the Minister said.
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Petrol price slashed, diesel costs more
Petrol price was steeply cut by Rs 3.05 per litre on September 30. The price changes announced by oil companies are excluding local sales tax or VAT and will be effective midnight of September 30. It was the first reduction in rates in over five months and the steepest in over five years, while diesel prices were raised by 50 paise a litre.
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Gas-based project in Orissa
Now decks have been cleared for establishment of a 423 MW gas-based power project in Orissa, at an investment of Rs 3,106 crore. JGreen Power has come forward with its proposal for the project
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India to build its first oil storage facility soon
ndia will build its first strategic oil storage facility by January, Union Oil Minister M Veerappa Moily said. India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storages at Visakhapatnam in Andhra Pradesh
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Mega refinery project in Rajasthan
The Union Cabinet has recently approved the proposal of Hindustan Petroleum Corporation (HPCL) to set up a 9 mmtpa greenfield refinery-cum-petrochemical complex in Barmer district in Rajasthan.
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CMPDI data on shale gas
Central Mine Planning & Design Institute (CMPDI) submitted data package for six shale gas blocks to the Directorate-General of Hydrocarbons.
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Nod to shale gas, oil exploration
The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal of the Ministry of Petroleum and Natural Gas on the policy on exploration and exploitation of shale gas
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Crude oil price comes down
The international crude oil price of Indian Basket fell to $106.42/per barrel (bbl) on September 24, says Petroleum Planning and Analysis Cell (PPAC) on September 25. This was lower than the price $107.47/bbl on the previous trading day of September 23, the PPAC said.