Fertiliser Association of India (FAI) warned that the natural gas pricing formula suggested by the Rangarajan Committee, if implemented, would raise the price of urea considerably. At present there is a production of about 18 million tonne of urea using natural gas in the country. An increase of $1 per million BTU will increase the total cost of p
Category: Oil & Gas
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FAI opposes gas pricing formula of panel
Fertiliser Association of India (FAI) warned that the natural gas pricing formula suggested by the Rangarajan Committee, if implemented, would raise the price of urea considerably. At present there is a production of about 18 million tonne of urea using natural gas in the country. An increase of $1 per million BTU will increase the total cost of p
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AGL to set up mother station for CNG
Reports suggest that AGL (Awantika Gas), which is a distributor of gas in Ujjain, would set up a mother station for compressed natural gas (CNG) on the land to be handed over by the state government. It is learnt that the firm would complete the project in a few months after it receives possession of the land, which was handed over to the Industries department
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AGL to set up mother station for CNG
Reports suggest that AGL (Awantika Gas), which is a distributor of gas in Ujjain, would set up a mother station for compressed natural gas (CNG) on the land to be handed over by the state government. It is learnt that the firm would complete the project in a few months after it receives possession of the land, which was handed over to the Industries department
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HPCL may source more oil from Iraq
Hindustan Petroleum Corporation (HPCL) plans to source more crude oil from Iraq in order to compensate for the possible decline in its import from Iran. The company may have to reduce dependence on Iranian crude oil from June because it may not be able to renew insurance to process the crude thanks to the sanction from Western countries. Therefore, the public sector refiner may enter into a contract with Iraq to buy more oil from April 1, 2013. A top
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HPCL may source more oil from Iraq
Hindustan Petroleum Corporation (HPCL) plans to source more crude oil from Iraq in order to compensate for the possible decline in its import from Iran. The company may have to reduce dependence on Iranian crude oil from June because it may not be able to renew insurance to process the crude thanks to the sanction from Western countries. Therefore, the public sector refiner may enter into a contract with Iraq to buy more oil from April 1, 2013. A top
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Profit of HPCL falls despite rise in operating income
The total operating income of Hindustan Petroleum Corp (HPCL) rose 11 per cent during October-December 2012 period to Rs 53,424 crore. However, the profit of the state-run refiner declined sharply to Rs 147 crore, from Rs 2,725.18 crore in the year-ago period because of a spike in costs and lower com
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Profit of HPCL falls despite rise in operating income
The total operating income of Hindustan Petroleum Corp (HPCL) rose 11 per cent during October-December 2012 period to Rs 53,424 crore. However, the profit of the state-run refiner declined sharply to Rs 147 crore, from Rs 2,725.18 crore in the year-ago period because of a spike in costs and lower com
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OMCs unsure on cash transfer for cylinders
State-run Oil Marketing Companies (OMCs) in Hyderabad and Ranga Reddy districts seem to have no clarity on how the cash transfer will take place for subsidized cylinders. Some industry sources feel that the finance ministry will transfer the amount to the respective oil companies who will then reimburse the amount in the individual bank acco
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OMCs unsure on cash transfer for cylinders
State-run Oil Marketing Companies (OMCs) in Hyderabad and Ranga Reddy districts seem to have no clarity on how the cash transfer will take place for subsidized cylinders. Some industry sources feel that the finance ministry will transfer the amount to the respective oil companies who will then reimburse the amount in the individual bank acco