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).
Tag: BPCL
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RBI opens window for daily dollar needs of oil firms
To meet the daily dollar requirements of Indian oil marketing companies-IOC, HPCL and BPCL and stabilise the falling rupee, the Reserve Bank of India has now opened a special window to issue dollars.
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BPCL to deploy Rs 9 bn more on Kochi project
Prasad K Panicker, Executive Director of Bharat Petroleum Corporation (BPCL) Kochi Refinery informed that the firm would spend Rs 900 crore on a new LPG pipeline project and storage capacity project. While the state-run oil refiner would invest Rs 600 crore to set up a 229-km pipeline in Kochi Refinery, it would spend another Rs 300 crore at its Irumpanam unit to raise
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BPCL lays pipeline to supply ATF
State-run oil marketing company (OMC) BPCL laid 33 km underground pipeline from its Kochi refinery to the local airport to ensure smooth supply of aviation turbine fuel (ATF) at an investment of Rs 41 crore. Earlier, aircrafts in the airport used to get jet fuel from the refinery by tanker trucks. The company set up the pipeline considering that transport of ATF by pipeline is safer than tanker lorry delivery
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BPCL to export naptha
Bharat Petroleum Corp (BPCL) intends to export 35,000 tonne of low aromatic naphtha for July 5-8 loading from Kochi. For this purpose, the state-run oil marketing company (OMC) has issued tender and invited bids from traders till June 11. Meanwhile, the firm is in the process of importing gasoline
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PSU OMCs seek permission to set up new outlets
Public sector oil marketing companies (OMCs) like Indian Oil Corp (IOC) want the government to allow them to invest on new fuel retail outlets without restriction. It may be recalled that the union government recently prohibited these firms, who are sitting on large pile of debt, from making investment in retail
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State-run OMCs avoid hedging oil purchase
State-run oil marketing companies (OMCs) avoid hedging their spot purchase of crude oil from the global market as it may work in either ways. This was mentioned in the recent report of the standing committee on petroleum and natural gas submitted to the Parliament recently. The report quoted Bharat Petroleum Corporation (BPCL) Chairman as saying that state-run oil firms, which undergo stringent audit by CAG, don't want to take the risk o
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ONGC, BPCL, Mitsui sign MoU with Mangalore Port
On March 18, ONGC, Bharat Petroleum Corp (BPCL), Mitsui of Japan and New Mangalore Port Trust entered into an agreement for setting up a liquid gas (LNG) import terminal at Mangalore. All the four parties signed a Memorandum of Understanding (MoU) for the proposed $500-750 million terminal, which will have an initial capacity of 2-3 millio
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Oil firms to enter into MoU for LNG terminal project
Energy exploration firm Oil & Natural Gas Corp (ONGC) and Bharat Petroleum Corp (BPCL) would soon enter into a Memorandum of Understanding (MoU) for the liquid gas (LNG) import terminal project at Mangalore. The first phase of the terminal will cost $500-750 million (Rs 2,800 to 4,200 crore) and is expected to be completed in 3
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ONGC, BPCL to sign pact for terminal project
Union Petroleum Minister M Veerappa Moily informed that state-run oil firms ONGC and Bharat Petroleum Corp (BPCL) would enter into a memorandum of understanding (MoU) for setting up a Liquefied Natural Gas (LNG) terminal at Mangalore. The MoU would be signed in the next 15 days, the minister said after commissioning a Rs 4,500-crore pipeline from Dabhol LNG terminal to Bangalore set up by GAIL