Crude oil imported by Indian refining companies stood at 85.959 million tonne during the April-September 2012. It is learnt that Indian companies are reducing their import from Iran and are instead increasing their dependence on other countries like Iraq, Venezuela, Kuwait for sourcing crude
Tag: Petroleum
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Fall in refining margins may hurt oil firms
Many brokerages feel that the margins of Indian refiners may come under pressure because of a decline in the Singapore benchmark refining margin.If the margins remain at the current level in the remaining part of this quarter, margins of companies like Reliance Industries (RIL), Essar Oil and public sector firms like Bharat Petroleum (BPCL), Hindustan Petro
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East-West Petroleum eyes shale reserves in Assam
Assam government received interest from East-West Petroleum Corporation for investing in the state's potential shale gas assets. The Canadian firm, which is owned by the industrialist, Herb Dhaliwal, feels that the state possesses huge shale gas potential and the fuel could be extracted by adopting new technology. Dhaliwal, the first Canadian Cabinet Minister of Indian origin, said his company was keen to invest in a big way in the
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IOC to commission Paradip project in 2013
Indian Oil Corporation (IOC) expects to commission its 15-million-tonne Paradip refinery project in the second half of 2013. Meanwhile, the company has installed the world's largest coke drum on November 15 at the Paradip refinery site. The drum weighs 630 million tonne (mn t) and is 45.52 metre in height and 10.67 meter diameter.
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Refining capacity of BPCL may rise
Reports indicate that the refining capacity of downstream oil company Bharat Petroleum Corporation (BPCL) may rise to 40 mn t by 2015. Recently, the company commissioned a six-mn t refinery in Bina, Madhya Pradesh, while gradually increasing the capacity of its Mumbai facility to 12 mn t. The company is in the process of raising the capacity of its K
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SC to hear IGL-PNGRB case on Nov 21
The next hearing of the Supreme Court case regarding dispute between Petroleum and Natural Gas Regulatory Board (PNGRB) and Indraprastha Gas (IGL) is sche
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IOCL to begin work on Rs 97 cr project
According to a company source, Indian Oil Corporation (IOCL) has received environment clearance for its Rs 97 crore oil depot project at Jharsuguda in Odisha and work on it
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CNG prices to be dearer in Mumbai
Citing rise in input costs, Mahanagar Gas (MGL) said it would raise the price of compressed natural gas (CNG)
by about 2.57 per cent or Rs
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India, Vietnam sign pact on oil & gas cooperation
ONGC Videsh (OVL), and the Vietnam oil and gas group PetroVietnam (PV) have signÂed an agreement on cooperation in the field of oil and gas. The framework agreement was signed in the presence of Prime Minister Manmohan Singh and Vietnamese President Truong Tan Sang, who was on a visit to India.
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DGH to be more transparent
The Oil Ministry has decided to implement recommendations of an expert panel in the Directorate General of Hydrocarbon (DGH) and make the Directorate's functioning more transparent.