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A Diesel Dry Out Looks Likely With Prices Going Up Sharply
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The Impact Of Rising Crude Oil Prices On Indian Economy
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India Seeks To Buy Tankers To Transport Oil And Gas
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India Leads Global Biofuels Alliance
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The Size Of LNG Supply Contract With RasGas Likely To Be Enhanced
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Oil India Decides On An Aggressive Exploration Strategy
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Gas Migration Dispute: Govt-RIL Legal Battle Enters Possibly The Final Phase
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BPCL’s Bina Refinery Expansion Marks An Important Initiative
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Diesel Vehicles In For Higher GST? Minister Triggers Speculation
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RIL To Make Biofuel From Algae
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India, Mongolia Review Oil Refinery Project
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PM Modi Launches Rs 490 Billion Petrochemical Project At MP’s BPCL Bina Refinery
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Bumi Armada JV Closes $948m Project Financing For India’s Largest FPSO
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Torrent Gas Commences Piped Cooking Gas Supply In Patiala
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Megha Engineering And Infrastructures Ltd
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IOC To Make Additional Investment In Hindustan Urvarak And Rasayan
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DFC Approves USD 425 Million In Financing For Tata Power’s Greenfield Solar Cell Plant
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- Wärtsilä signs large multi-year supply agreement with EVE Energy
- No damage due to oil spill near Uran
- Oil & Gas: LNG prices – Looming workers' strike creates uncertainties
- ICIS - US LNG to drive global market by 2030
- Sentinel Subsea continues international growth with contract wins worth seven figures
- Asian Energy Secures LOA from Vedanta Limited for Gujarat Seismic Data Acquisition
- ONGC transforming into a low-carbon energy player in a big way: to scale up renewable portfolio to 10 GW by 2030
- ONGC declares results for Q1 FY’24: Posts Consolidated Net Profit of ₹ 17,383 Crore, up by 102.6% Q-o-Q
- ONGC inks first-ever term contract in Marketing Freedom regime with BPCL for sale of crude oil
- New Report on the Need for a 'More Inclusive' Approach to Energy Transition
- Petronet LNG_Q1FY24_results
- GAIL_Q1FY24_results
- Embargoed media release | EI Statistical Review of World Energy
- ONGC Commences 3.6 MMSCMD Gas evacuation from Panna Field through newly laid 70 km Subsea Pipeline
- Asian Energy Services Limited Has Received LOA from ONGC for 3D Seismic Data Acquisition services in Gujarat
- Wärtsilä study examines the potential of Power-to-X fuels for power generation
- Mahanagar Gas Limited commences PNG supply at Raj Bhavan
- ONGC declares results for FY’23; posts net profit of Rs 38,829 crore for FY’23, highest ever total dividend of 225% for FY’23
- TotalEnergies: Ordinary and extraordinary Annual Shareholders’ Meeting of May 26, 2023
- Mahanagar Gas Limited and BEST come together with a ‘Tez’ way to refuel
- Mahanagar Gas Limited Signs MoU with Baidyanath LNG to scale up LNG Network
- IGL FY2022-23 Results
- Drilling Systems announces key contract win with PETRONAS
- Oil & Gas: Earnings mix for OMCs shifts towards marketing
- CERAWeek by S&P Global to Showcase the 2023 Class of Energy Innovation Pioneers
- EKI Energy Services Ltd. (EKI) collaborates with UK-based Inclusive Energy Ltd to further digital carbon MRV for energy projects in the voluntary carbon market
- WIKA zeroes in on Oil & Gas Sector, Clean Energy & Refining
- Mahanagar Gas Limited’s City Gate Station commissioned at Savroli
- EKI welcomes India's step forward to greener planet as Centre releases tech list under Article 6.2 of Paris Agreement
- MGL Creates Dedicated Kiosk at CGD Pavilion in India Energy Week 2023
- TotalEnergies: Fourth Quarter and Full-Year 2022 Results
- ONGC Videsh signed MoU with YPF SA, Argentina
- ONGC recreates an offshore platform for India Energy Week
- Mahanagar Gas: Margin strength offsets miss on volumes
- MGL revises CNG price
- EKI Energy Services Ltd. (EKI) collaborates with DNV Supply Chain & Product Assurance to foster climate transition ecosystem
- OTPC inks MOU WITH APDCL to develop 250 MW battery energy storage system in Assam, to attract 2000 crore investment
- Shell leads global long-term LNG contracted capacity signed among purchasing companies in 2022, finds GlobalData
- India to host India Energy Week 2023, convene global leaders to deliberate on energy growth, collaboration, and transition
- ONGC ‘Sagar Samrat’ starts Oil and Gas production in Arabian Sea
- N'GENIUS solution on the horizon for oil, gas and LNG industry
- ONGC inks MoU with Shell for Carbon Capture, Utilization and Storage
- Waaree Energies Emerges as The Largest Solar Module Supplier in India
- ONGC declares results for Q2 FY’23: Posts Net Profit of ₹ 12,826 Crore, declares interim dividend of ₹ 6.75 per share
- Rewarding sustainability efforts in the chemicals industry
- Hon’ble Prime Minister dedicates ONGC U-field Onshore facilities of KG-DWN-98/2 Deep Water Block to the Nation
- EKI Energy Services Limited (“EKI”) reports continued profitable growth in H1 FY22-23, delivers strong performance despite macro-economic headwinds globally
- Shapoorji Pallonji's FPSO Armada Sterling V, India's largest 'Floater', achieves sail-away readiness
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September 26, 2023: Indian Basket (IB), also known as Indian Crude Basket, is weighted average of Dubai and Oman (sour) and the Brent Crude (sweet) crude oil prices. It is used as an indicator of the price of crude imports in India and Government of India watches the index when examining domestic price issues. Click Column Special Database to find how prices of crude in Indian Basket moved In August 2023.
September 25, 2023 | Can The Downstream Man Bail Out ONGC?: Oil and Natural Gas Corporation (ONGC) is India’ upstream major whose chief executive happens to be a downstream man all along. The selection committee and Prime Minister Narendra Modi must have selected Arun Kumar Singh deliberately as they feel that he is capable of reigniting ONGC into a powerhouse that it once was. Will Singh be able to deliver on the country’s expectations? Singh is right that India cannot afford to go slow in its search for fossil fuel. Should the search be in domestic sedimentary basins or elsewhere? The biggest weakness in ONGC was that personal likes and dislikes influenced appointments to senior positions when it ought to have stressed on professional competence. ONGC did not have a production expert in charge of production even during the accelerated production plan. Since then, matters have not changed much at ONGC. Exploration continues to be an area that is riddled by corruption. Click Free Access column Petro Intelligence to read an exciting piece on ONGC.
A diesel dry out looks likely with prices going up sharply. During the past five years, diesel cracks never crossed USD 20 /barrel. It has now reached over $28 a barrel. This is one of the five subjects discussed in Column Policy. Other subjects are: Crude Prices have begun to rise. This is bound to impact Indian economy adversely as India imports 87 per cent of its crude requirement; India seeks to buy tankers to transport oil and gas to ensure energy security and keep freight and insurance costs under control; the government appears to have directed the state owned oil marketing companies to purchase tankers to transport oil and gas; India leads Global Biofuels Alliance. The Alliance is focused on securing the supply of biofuels, ensuring these biofuels remain affordable and are produced sustainably; the size of the LNG supply contract with RasGas is likely to be enhanced.
Column Regulation discusses, Oil India’s new aggressive exploration strategy; BPCL’s Bina Refinery expansion, the new phase in Govt-RIL battle over gas migration issue and the possibility of higher GST for diesel vehicles. There are exclusive reports in almost all columns.
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Hydrogen buses get a boost in India as Tata Motors delivers units to IndianOil
September 26, 2023: India’s largest commercial vehicle manufacturer Tata Motors today delivered Hydrogen Fuel Cellpowered (FCEV) buses to Indian Oil Corporation (IOCL), the country’s largest petroleum company. The Hydrogen-powered two buses were flagged off by Hardeep Singh Puri, Hon'ble Union Minister for more..
Hurdles in biofuel use: Few vehicles, weak ethanol-blended petrol rollout
September 26, 2023: The limited availability of flexible (flex)-fuel vehicles in the Indian market and the slow rollout of ethanol-blended petrol by oil-marketing companies (OMCs) remain major obstacles to achieving widespread use of biofuels in the transportation sector in India
Recently, two Union ministers more..
Everyone wants a pie of India’s largest renewable power producer
September 26, 2023: French energy giant TotalEnergies SE's USD 300 million investment in clean energy projects of Adani Green Energy Ltd has taken the total investments poured in by global investors in India's largest renewable power producer to USD 1.63 billion or about Rs 140 billion, sources close to the company more..
How rising oil prices can impact Indian economy
September 26, 2023: Brent crude has jumped to a 10-month high and breached $93/barrel in mid-September. It has averaged $83.5 in the past year. Both Reuters and EIA have raised Brent forecasts.
Reuters raised the Brent price forecast to $82.45/barrel for 2023 recently, up from its July consensus forecast of more..
Indian Oil seeks consultants for nationwide renewable projects
September 26, 2023: Indian Oil Corporation (IOCL) has announced an invitation to tender for the appointment of a technical consultant for the provision of project management consultancy services aimed at establishing renewable energy projects at various locations throughout India.
It was stated that the more..
RIL could transform into a holding company says CreditSights
September 26, 2023: The telecom to retail conglomerate Reliance Industries could eventually transform into a holding company — which holds majority stakes in entities that operate major business verticals — says a report by CreditSights.
Currently, RIL is both a holding company as well as an more..
Biofuel in petrol stations up to 20 per cent is still a far way: Mercedes-Benz’s MD
September 26, 2023: The luxury car market in India is seeing the best year in the current financial year. Companies are noticing more young professionals thronging the showrooms to grab their latest machines, which is becoming like a lifestyle statement. In an interview with businessline, Santosh Iyer, Managing Director and more..
CBI books HPCL GM in DA case
September 26, 2023: The Lucknow unit of Central Bureau of Investigation (CBI) has lodged an FIR against a senior official of Hindustan Petroleum Corporation Limited (HPCL) on charges of amassing assets disproportionate to his known sources of income.
According to CBI officials, Anurag Shrivastav, who is general more..
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Impact of Ukraine war on International LNG trade. Lessons for India
by Dr Bhamy Shenoy
 Russian-Ukraine war has brought about
dramatic changes in international gas and oil sector because of the oil embargo
by the west and gas more...
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Glut In US Crude Pushes Down Price : Indian Wrestling With Options.
On Friday oil prices went down by 5 per cent. WTI $67.50/barrel; Brent 76.40/barrel.
This difference between WTI and Brent is confusing. Normally Brent should only be about $2 costlier at most. According to market experts, the lower WTI price has to do with a glut of production in the US and lack of more...
IOC steps into Oman with acquisition
Indian Oil Corp (IOC), the country's largest Oil Marketing Company (OMC), recently acquired global major’s Shell's stake (of 17 percent) in the Makhaizna oilfield in Oman for more...
Some good news for the Indian partners from Mozambique
The Mozambique project in which Indian firms ONGC Videsh Ltd (OVL) and Bharat Petro Resources Ltd (BPRL) have a stake has seen some positive news of late. Anadarko Petroleum’s, (the operator) plan to export LNG from Mozambique’s Rovuma Basin through its two trains moved closer to achieving the crucial Final more...
Visit of Iranian President opens a sliver of hope for Farzad-B deal?
The Indian side seems to be making one last concerted effort to revive the proposed Indian investment to develop the large Farzad-B field in Iran during the forthcoming visit of the Iranian President Hassan Rouhani to India. The field was discovered by the Indian consortium of ONGC Videsh (OVL), Oil India Ltd (OIL) and Indian more...
Indian PSUs to Aggressively Pursue EOR/IOR Projects
Faced with declining production from its ageing fields and encouraged by the scheme of incentives in the newly announced EOR (Enhanced Oil Recovery) policy, ONGC and Oil India Ltd (OIL) are preparing to enhance their investment in EOR projects.
There has been no major commercial oil or gas discovery in India more...
Iran Announces Deals With Countries, No mention Of India
A senior Iranian oil official has indicated that his country was looking to sign big deals with companies from Russia, Europe, China etc- but there was no mention of India. Iran was also looking to sign large deals with Japanese, Chinese and Korean companies for upgrading some of its refineries. This development where India more...
ONGC’s Search For Producing Assets
In recent times, there has been considerable noise generated about the Government’s proposal to allow private sector firms to take equity stake in the blocks earlier given to the flagship PSU firms on a nomination basis. This was ostensibly to help increase production from these fields, as it was felt that the private more...
CERA Week sees plenty of action
There was plenty of action at the CERA Week held in New Delhi over the past few days. It was firstly in itself notable that this forum was held in India, being normally held in Houston. In fact, the Indian Petroleum and Natural Gas Minister Dharmendra Pradhan emphasized as much and also felt that going forward, the conclave more...
Hydrocarbon Re-assessment Exercise Progressing As Scheduled
The multi-organisation team comprising Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL) and Directorate General of Hydrocarbons (DGH) has been carrying out the exercise of reassessing hydrocarbon resources in the country.
According to official sources, as on March 31, 2017, the team has completed more...
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Can LNG replace Russian gas in Europe?
European LNG imports reached a record high in January 2022 and could go a little higher if Russian pipeline gas supply falls, or even stops completely. But the best-connected European LNG terminals are already running at high rates, and limits to cross-border pipeline gas capacity would restrict the wider benefit of higher imports into some... more...
Importance Of Offshore Wind Power
Offshore wind power market plays an important role in achieving the renewable target in most countries, but not in India. India needs a clear, time-bound, quantitative target for offshore wind development, and a roadmap of how to achieve it, says the Baroda-based Centre for Fuel Studies and Research, Click more...
Future Power Grid Vision - Grid Of Microgrids
The electric grid has been around for nearly 140 years, but it’s yet to overcome its biggest nemesis: the weather. Recent prolonged blackout in Texas (Snow storm) is showcasing that point as it suddenly rivals California (Forest wildfires) in proving the need for microgrids. Sustainable energy is the sustainable more...
Future of India’s transport story is renewable biogas
 by Vinod Paremal | Biogas extracted from waste/bio-mass help India cut its dependency to import oil for meeting its needs.
Petrol and diesel more...
Time for Introspection and redefining wealth and the basis for economic planning
Over emphasis on Gross Domestic Product (GDP) without taking into account the impact to Mother Earth’s Ecological systems (resource abuse) and consideration of equanimity for all has already shown the ill effects all around the world. And worse still is the fact that the sinner does not necessarily pay the price but more...
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Speech of Former Petroleum Secretary, T.S. Vijayaraghavan, on Indias Petroleum Sector
Demand & Growth:
India's Crude
Oil demand has risen from 0.65 Million Barrels a day in 1980 to 3.7 Million
barrels and will reach 4 Million by 2016. Internal production is now less than 0.8
Million Barrels a day. It more...
The KG basin price hike socialises costs and privatises profits
Why the Rangarajan Committee's complex pricing formula will inflict heavy burdens on the power and fertiliser sectors and give a private gas producer windfall profits?
The ministry of petroleum and natural gas has proposed to increase the price of natural gas from the Krishna Godavari (KG) more...
Fire From Ice: A Promising New Energy Source
Massive imports of oil and natural gas have exacerbated India’s big trade deficit, which is a hurdle to the acceleration of economic growth. Light at the end of the tunnel comes from a technological breakthrough last week by JOGMEC (Japan Oil Gas and Metals National Corporation). It succeeded in extracting natural gas more...
The Diesel Subsidy Hole
Under-recovery on diesel as per the Indian petroleum ministry website was . 10.94 a litre in February 2012 when the procurement price was . 37.80 per litre ($122.06 a barrel). The diesel under-recoveries are expected to exceed . 750 billion at average price of $95.66 a barrel while total annual shortfall due to fuel subsidies more...
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PESB Picks Alok Sharma For IndianOil’s Director (R&D) Post
 Alok Sharma is set to be next Director (Research & Development) of Indian Oil Corporation Limited (IOCL). He has been recommended for the post by the Public Enterprises Selection Board Panel (PESB). more...
Castrol Appoints Priyanka Ghosh As Vice-President And Head Industrial Sales
Castrol India Limited appointed Priyanka Ghosh as vice-president and head industrial sales. She will resume her work in the new position from November 1. Since 2021, Ms. Ghosh has been leading Route to Market Transformation in Castrol India Limited. She has a track record of driving revenue growth across diverse industries, more...
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On April 10, 2021 www.indianoilandgas.com entered the 28th year of service to the Indian and international oil and gas industry. When the hardcopy version with its masthead, Indian Oil & Gas, came out 28 years ago, India’s petroleum industry was almost totally controlled by the government. India was not rated high either as a producer or consumer of crude and petroleum products. Today, India is the world’s third largest importer of crude and second largest importer of LPG and Asia’s largest exporter of petroleum products. Without violating the government norms regarding dissemination of information, www.indianoilandgas.com has been consistently helping the industry with authentic articles and data on all areas of oil and gas industry.
To download this full article in PDF, click here |
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Can The Downstream Man Bail Out ONGC?
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West Coast Refinery Continues To Battle A Jinx
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Vaidya’s Extension Propels IOC Foray Into LNG
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India Must Look Beyond Cheap Russian Crude
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Petromin Corporation Signs 3 Agreements With HPCL To Invest USD 700 Million
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Jindal Hunting Energy JV To Start Commercial Production By December
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Indian Oil Firms Explore Ways To Bring $600 Million Stranded In Russia
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How Drastically High LNG Prices Prune India’s Gas Import Dependency?
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Sector-wise Consumption Pattern Of Natural Gas Remains Unchanged
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Domestic Natural Gas Scene In July Presents A Confusing Picture
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The Rise & Fall Of India’s LNG Imports
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The story of the rise and fall of India’s LNG import
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LNG Regasification Capacity Up, Terminal-wise Capacity Utilization Low For Many
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India’s Growing CGD Infrastructure: An update
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LNG price determines the size of India’s gas import dependency
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Domestic Natural Gas Scene Presents A Better Picture
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Natural Gas Price Trends: Global And Domestic
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Sectoral Consumption Of Natural Gas In FY 24
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Dismal Domestic Natural Gas Scene
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Natural Gas Price Trends: Global & Domestic
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India’s LPG Industry Growth To Slow Down As Total Coverage Already Reached
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CGD Major MGL’s Growth Strategy
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Domestic Natural Gas Scene In April Presents An Unimpressive Picture
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How Indian Crude Basket Prices Moved In August 2023?
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GRMs Of PSU Refineries Sink During First Quarter of FY 24
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India’s Crude Oil Import Up In August, OPEC Share Down, Russia On Top
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Vibrancy In Production and Consumption of petroleum products Clearly Visible
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Imported crude & Domestic Crude In Oil Processing
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Specific energy consumption of PSU Refineries
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Product-Wise Consumption of Petroleum Products In FY 2022-23
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Break-up of Petroleum Products Consumption (PSU/JV and Private)
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Weightage of crude oil, natural gas and petroleum products in Wholesale Price Index (WPI)
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Improved Power Supply Situation Can Dampen Diesel Demand
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Indian Refineries’ Record Performance by Crude Processing
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Petroleum Products Consumption Trend Analysis
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Petroleum Sector’s Revenue Contribution To Central/State Govts
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Petroleum Products Consumption Grows At Slow Pace In July
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A New High In Company-wise Crude Processing
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Exports of Petroleum Products Up In July, Imports Down
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