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Post Budget Analysis | OIL & GAS

Post Budget Analysis | OIL & GAS

Provision of revenue expenditure/subsidy for sensitive petroleum products of ~Rs 217 billion for FY2019 and 2018v19 (BE), excluding allocation of new LPG connections to poor families.

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India Needs to be Realistic on the Exploration Front

India Needs to be Realistic on the Exploration Front

Speaking exclusively to INFRASTRUCTURE TODAY, Prof Kirit Parikh, Chairman Integrated Research and Action for Development (IRADe) and author of the seminal report on pricing methodology for diesel, domestic LPG and PDS, believes that though the federal dispensation is presently offering lucrative terms to investors in the oil and gas sector, it must also ensure that those commitments are adhered to.

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2017 | A riddle, wrapped in a mystery, inside an enigma

2017 | A riddle, wrapped in a mystery, inside an enigma

Every new year brings with it a new glimmer of hope, new growth opportunities for our economy, new possibilities of jobs, and positive expectations in the minds of everybody. But rarely does a new year bring with it so much suspense, so much enigma and therefore, so many imponderables, as it is doing in the year 2017.

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Centre takes initiatives to boost oil & gas production

Centre takes initiatives to boost oil & gas production

The Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan has informed the Lok Sabha that the Ministry of Petroleum & Natural Gas has signed MoUs (Memorandums of Understanding) with Oil & Gas CPSEs (Central Public Sector Enterprises) to enhance production of oil and gas for meeting domestic demand' Under this agreement, the CPSEs have undertaken to achieve the targets set in the agreement at the beginning of the year.

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Strategic Petroleum Reserves created at 3 locations

Strategic Petroleum Reserves created at 3 locations

Minister of State (I/C) for Petroleum & Natural Gas Dharmendra Pradhan has informed the Rajya Sabha in a written reply that under the Strategic Petroleum Reserve project Phase-I, underground rock caverns for storage of 5.33 MMT of crude oil at three locations, viz. Vishakhapatnam (1.33 MMT), Mangalore (1.50 MMT) and Padur (2.5 MMT) have been created.

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Cargo traffic at Major Ports grows by 5.2percent

Cargo traffic at Major Ports grows by 5.2percent

Major Ports in India handled 315.4 MT of cargo during the first six months of FY2016-17 (April-September) and showed a positive growth of 5.1 per cent as compared to the same period last year. The cargo traffic handled by the Major Ports during the same period last year was 299.5 MT. This improvement of performance is the result of many measures initiated by the Ministry of Shipping to improve the performance of the ports.

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Higher oil demand growth expected this year

Higher oil demand growth expected this year

India´s oil demand growth will exceed 11 per cent this year as the world´s third-largest oil and gas consumer fires up its economic development, said Minister of Petroleum and Natural Gas Dharmendra Pradhan.