India plans to set up its first overseas petroleum hub, along with a refinery and power plant, in Sri Lanka. The move could spur Indian investment in the island nation. A delegation of oil and power ministry officials and representatives of Indian Oil Corporation
Hindsight: This was a reasonably good year for O&G in general, in particular for India. The government has performed very well. For the first time, it took some concrete and bold steps, and ensured deregulation of transportation and petrol, distinguished bulk from retail transport. There is some disparity there, needing some practical solutions.
Media reports indicate that the union finance ministry plans to cover half of a proposed Rs 40 billion fund for underwriting the import of crude oil from Iran. It may be recalled that the union oil ministry and local insurers decided to contribute Rs 10 billion each to the proposed fund
An inter-ministerial committee set up by the Odisha government submitted its report on the long-term linkage policy for supply of ore to local industries. The state government would examine the report and may take action to boost supply of raw material to local industries. The submission of the report prompted Vedanta Aluminium (VAL) to be optimistic about securing bauxite ore from
Media reports indicate that Hindustan Petroleum Corporation (HPCL) may prefer Pachpadara over Leelala for setting up the proposed refinery in a joint venture with Rajasthan government. It may be recalled that Engineers India (EIL) recommended HPCL to choose Pachpadara for the project. Also, the state Task Force approved the setting up of the refinery at Pachpadara over Leelala. The nine milli
Media reports indicate that the union cabinet would soon decide on clearing the Rs 37,230 crore refinery project at Barmer, Rajasthan. It is learnt that the central government prepared a note for the cabinet on this project, which is promoted by the state-run Hindustan Petroleum Corporation (
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
Indian Oil Corporation (IOC) roped in Dubai-based engineering firm Essar Projects to implement process safety related improvements at its terminals and depots across the country. According to the contract, Essar Projects is responsible for basic and detailed design and project management relating to implementation of various HSE requirements in 109 POL terminals or depots of IOC acro