Policy
Mexico May Attract Indian Firms But...
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India Left Out Even As Russia Scouts For New Friends?
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Why Modi Govt. Resists Export Parity Price For Petro Products?
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Time To Re-look At The Taxation Of Petrol And Diesel
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RIL’s New Proposed Refinery At Jamnagar Makes Strategic Sense
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Regulation
Cairn India Seeks Special MC Meet To Resolve Contentious Issues
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Oil India’s Nominated Shale Gas Block In Arunachal Promising
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Cairn India To Drill Disposal Well On Emergency Basis
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Nagayalanka-Iz Discovery Development Unviable On Standalone Basis
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Alternative Energy / Fuel
Large Import Saving Expected From Ethanol Blending
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Ethanol Blending To Get A Boost
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New Projects
Technip Awarded Contract For Kochi Industrial Complex
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Infosys, BP Sign Strategic Supplier Agreement
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Hazel To Build $126 Million Cargo Facility In Sharjah
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ONGC’s Daman Development Project In Western Offshore
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Market Watch
State Owned Marketing Companies Can Buy Crude Oil From 13 MNCs
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Natural Gas
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Companies
Indian Additives Limited
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BP Launches Future Leaders Program
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Lubrizol To Commission Dahej Plant by Mid-2015
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L&T Bags Order To Build Gas Based Power Plant In Bangladesh
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Press Release [FREE Access]
Latest Exclusives

September 22, 2014: When South Asia Gas Enterprise (SAGE) first proposed a deep water gas pipeline from Middle East to India four years ago, not many in the industry took it seriously. A similar pipeline proposed 15 years ago from Oman collapsed even before a feasibility report was prepared. But SAGE’s proposal has now gained acceptability not only in the industry but also in government circles. We have collected the highlights of the proposed pipeline. Click Column Gas Scene for details.


September 19, 2014: Ravinder Kumar, former General Manager of Reliance Industries Ltd (RIL) and an acknowledged petroleum trading expert, criticizes the Kelkar Committee’s Consultation Paper: Towards a New E&P Regime & a Roadmap for Market-Determined Pricing of Natural Gas for strongly favouring the Production Sharing Contract system. This suits the Indian corrupt system to earn higher profits through questionable means which will not be possible in a revenue sharing mechanism. He does not think Aiyar’s Column in the Times of India of September 14 has any merit but picks up one point to comment on and differs with P. Balakrishna’s piece in www.indianoilandgas.com on a few points Click Column Special Reports .


September 18, 2014: Even as RIL-BP combine is finalizing its strategy to bring in LNG, Shell-Total which owns and operates the Hazira terminal is expanding its capacity from 5 million ton per annum to 7.5 million ton. The expanded capacity will be available by end of FY 2016-17. Petronet LNG is expanding its Dahej terminal capacity to 15 million ton per annum, Click Column Gas Scene for the present and projected LNG import terminal capacity in India.


September 17, 2014: In addition to central Excise and Customs duties, crude and petroleum products are subject to State Specific Cost (SSC) some of which are irrecoverable. There was a presentation in the Ministry of Petroleum and Natural Gas regarding the need for abolition of all irrecoverable taxes on crude and products. We have obtained a copy. Click for details Column Special Reports.


September 16, 2014: Independent consultant P. Balakrishna finds positive points in Kelkar Committee’s consultation paper on Road Map For Market Determined Pricing Of Natural Gas, but blasts Swaminathan Ankalesaria S. Aiyar for misrepresenting Kelkar Committee’s recommendations in his Column in ToI and ET. Click Column Special Reports for details.


September 15, 2014: Eminent geologist Dr K. Narayanan who presided over DGH Council for close to a decade comments on the Consultation Paper circulated by the Kelkar Committee on Road Map For Market Determined Price for Natural Gas. He takes on journalist Swaminathan S. Ankalesaria Aiyar for his insufficient understanding of the basics of the subject as reflected in his article in Times of India of September 14, 2014. Click for details  Column Special Reports.


September 10, 2014: Almost everyone who read our previous piece Gas Price Hike: A Sisyphean Saga agreed with the Planning Commission official’s assessment that the Rangarajan pricing formula was designed to crank up domestic gas prices to make India an attractive destination for LNG supplies that a 50:50 Joint Venture between RIL and BP intended to bring in. However, the mystery over BP’s investment of $ 7 billion in RIL-operated Production Sharing Contract blocks remains unresolved. Three years since BP made that investment – and with no sign of a full-scale resumption of gas exploration in the blocks – there is a view that is now gaining ground that BP was never really serious about gas exploration in India. And that’s where the red herring comes in. A red herring is a deliberate ruse employed to mask one’s real intentions and throw someone off the trail. Click our Free Access Column Petro Intelligence to read the outcome of our search for an answer.

Today's News [FREE Access]
GST implementation from April 2016
September 22, 2014: As negotiations with states on Goods and Services Tax (GST) enter a critical stage, the Centre is looking forward to implementation of the new indirect tax regime from April 1, 2016. "The deadline for actual implementation of GST from April 1, 2016, would be feasible. It all depend on how quickly we   more..


ONGC to commission Dahej petrochem plant by June 2015
September 22, 2014: ONGC had in 2006 set up ONGC Petro-additions Ltd (OPaL) for building a mega petrochemical complex at Dahej in Gujarat. State-owned Oil and Natural Gas Corp's (ONGC) long-delayed mega petrochemical plant at Dahej in Gujarat will be commissioned by June next year but at 27 per cent higher cost of Rs   more..


IOC sends draft MOU on Raxaul-Amlekhgunj petro pipeline
September 22, 2014: The Nepal Oil Corporation (NOC) has forwarded a draft of memorandum of understanding (MOU) of a proposed petroleum pipeline to the Ministry of Foreign Affairs and Ministry of Finance. The draft was prepared by the Indian Oil Corporation (IOC)--the sole supplier of petroleum to NOC -- and sent to the Nepali   more..


BPCL says no plan to tie up with private companies for retail expansion
S. VaradarajanSeptember 22, 2014: We have enough capabilities to invest more in retail expansion, says company's Chairman and MD. Country's third largest oil marketeer Bharat Petroleum Corporation (BPCL)   more..


ONGC to start oil production from KG block in 2019
September 22, 2014: State-run Oil and Natural Gas Corporation’s (ONGC) major oil discovery in the Bay of Bengal will start production in 2019, ONGC Chairman and Managing Director Dinesh K. Sarraf said here on Saturday. “We are moving fast on KG-D5 development. First gas from the block is planned for 2018 and first   more..


BPCL to book capacity in LNG terminals
September 22, 2014: State-run Bharat Petroleum Corporation Ltd is considering booking one-three million tonnes per annum of capacity in liquefied natural gas terminals on the country’s east and west coasts. A feasibility study for a terminal with capacity of two-three mtpa, expandable to five mtpa, will be carried out.   more..


Panel to revive Barmer refinery project soon
September 22, 2014: In a bid to revive the much delayed and highly politicised refinery project in Barmer. A team of senior officials from Rajasthan led by chief secretary Rajiv Mehrishi met B K Namdeo, director, refineries, HPCL on Saturday in New Delhi. According to sources, the two stakeholders of the Rs 370 billion   more..


Madhya Pradesh to have fertilizers, steel plants and polymer park
September 22, 2014: Madhya Pradesh will have fertilizers and steel plants, polymer park, global level pharmacy education and research institute. This was decided on the initiative of chief minister Shivraj Singh Chouhan at a meeting held with Union minister for chemicals & fertilizers, Ananth Kumar, Union minister for   more..

Petropulse / Guest Column
Reliance And The New Government
Narendra ModiOne of the many tests of the new Narendra Modi- led government will be its official dealings with the Reliance Industries, India’s largest and politically dominant more...

IOG Exclusive
EAS Sarma Asks Petroleum Ministry To Challenge Justice Bharucha’s Appointment
EAS SarmaSeptember 11, 2014: Eminent retired bureaucrat EAS Sarma has once again taken up the issue of the appointment of Justice Bharucha as one of the arbitrators in KG D6 matter. more...

BPCL- Proposed Crude Pipeline Can Make Tremendous Impact On North East Economy
August 19, 2014: Bharat Petroleum Corporation Ltd (BPCL) in its proposal seeking expansion of Numaligarh Refinery Ltd (NRL) in the state of Assam has proposed a 1350 KM long crude oil pipeline. This pipeline project and its ROU can open up opportunities for expansion of Bongaigaon and Guwahati Refineries of Indian Oil more...

BPCL: Caught Between Unsafe Pipeline & Agitating People
August 12, 2014: Replacement of LPG pipeline from ONGC to BPCL LPG Plant at Uran has been giving anxious days to the BPCL management. BPCL’s LPG Plant at Uran in Raigad district of Maharashtra apart from being one of the largest plants in the region, is located at operationally critical location to more...

DGH Blocks Transfer Of Geopetrol’s PI & Operatorship To CAPIL For CBM Blocks In Madhya Pradesh
August 7, 2014: Geopetrol with 10 per cent Participating Interest (PI) is the operator of CBM block SP (N)-CBM-2008/IV in the state of Madhya Pradesh. Geopetrol wants to transfer the PI and operatorship to Coastal Andhra Power Infrastructure Ltd (CAPIL), an Anil Ambani group company.   Geopetrol cited more...

BPCL Seeks 53 % Capital Subsidy To Expand NRL’s Capacity, Cross Country Pipeline
S. VaradarajanAugust 6, 2014: The 3 MMTPA Numaligarh Refinery Limited (NRL) was set up at Numaligarh in the state of Assam in accordance with the provisions of the Assam Accord. The refinery has contributed more...

DGH Expands Scope Of Its Weekly Report On RIL-Operated KG D6
August 5, 2014: The Block has the following fields which are currently on production: D1 &-D3 Gas Fields: Non-Associated Gas fields, which have been on production since April, 2009. Currently, the fields are in declining phase. MA Oil Field: An Oil field with production of oil, more...

Calculation Of Cost Of Unfinished MWP Still Poses A Problem To Production Sharing Contracts
July 30, 2014: Directorate General of Hydrocarbons (DGH) claims to have made some headway in resolving the issue surrounding the calculation of Unfinished Minimum Work Program. This is clear from the query posed to DGH by Ministry of Petroleum and Natural Gas (MoPNG). A couple of weeks ago, MoPNG asked DGH to more...

Cairn Energy Deliberately Violated Competitive Bidding?
July 28, 2014: Cairn Energy, operator of block KG-ONN-2003/1, is found to have shied away from competitive bidding as provided for in the Production Sharing Contract while carrying out its exploration activities in the block. DGH referred certain unacceptable practices of Cairn Energy to SARC &Associates, more...

SWAN Energy Ltd Opposed To Regulations For LNG Terminals
July 15, 2014: Swan Energy Ltd (SEL) has told the Petroleum and Natural Gas Regulatory Board (PNGRB) that there is no need for regulations for LNG terminals as they are not natural monopolies like Gas Pipelines. It was responding to draft regulations for registration for establishing and operating LNG Terminals. more...

Centre For High Technology, USTDA Shortlist Refinery Modenisation Projects To Be Taken Up
July 10, 2014: The Indo-US Energy dialogue had identified four categories of refinery projects to be taken up under USTDA assistance. Slurry Hydrocracking for residue upgradation Fuel cost optimisation through CFBC/ gasifier. Energy Efficiency Management Refinery more...

Absence of KG D6 Crude Lands CPCL’s Cauvery Basin Refinery In Trouble
July 7, 2014: Normally, Chennai Petroleum Corporation Ltd’s (CPCL) Cauvery Basin Refinery (CBR) receives and processes about 20-22 TMT of Narimanam crude, 20-25 TMT of KG D6 crude and about 15-18 TMT of Ravva crude. CBR has been processing this crude mix based on the need more...

Solomon Associates To Participate In Benchmarking Of PSU Refineries For 2014 & 2016
July 4, 2014: The next cycle of bench marking for Public Sector Refineries begin in 2014 and ends in 2016. In accordance with the advice given by General Council of CHT, offer was sought from Solomon Associates for performance benchmarking of 15 PSU refineries. After negotiation, they agreed to offer for new more...

US Company Pangea LNG Keen On Strategic Partnership With ONGC
July 3, 2014: Pangea LNG, a US-based LNG export project in the Gulf of Mexico, has been negotiating with India’s state-owned Oil and Natural Gas Corporation (ONGC) for a strategic partnership for a year now. Frustrated with lack of progress, the company’s finance director Vivek Srinivasan has more...

DGH Agrees To Oil India’s Proposal for Force Majeure For Its KG Block In Andhra.
July 2, 2014: Oil India Ltd (OIL) is the operator of the block KG-ONN/2004/1 in the south Indian state of Andhra Pradesh. It had to stop field operations and negotiations for land acquisition for drilling locations on account of agitation for United Andhra Pradesh in Eastern Godavari district. OIL says in Andhra more...

No Price Formula Applies To Cairn’s Ravva Gas?
June 23, 2014: The implementation of the Rangarajan pricing formula for domestic gas slipped out at the eleventh hour and is unlikely to stage a come back. Even if it had come into force as planned which would have raised domestic gas price to a level of around $ 8/mmbtu, the pricing formula would not have been more...

Special Reports
Kelkar Committee’s Consultation Paper Errs In Supporting Production Sharing Contract System
Ravinder KumarSeptember 19, 2014: The Consultation Paper of the report of the Committee on Roadmap for Reduction in Import Dependency in Hydrocarbon Sector by 2030 has been divided into two parts. Part I deals more...

Presentation On State Specific Cost (SSC) On Crude & Petroleum Products.
September 17, 2014: In addition to Central Excise and Customs duties, crude and petroleum products are subject to State Specific Cost (SSC) some of which are irrecoverable. There was a presentation in the Ministry of Petroleum and Natural Gas regarding the need for abolition of all irrecoverable taxes on crude and products. We have obtained a more...

Positive Elements In Kelkar’s Consultation Paper, Aiyar’s Piece Riddled With Flaws
The redoubtable SwP. Balakrishnaaminathan S. Ankelesaria Aiyar has shot off a column in the Times of India arguing vehemently for selling gas to the highest bidder. It is ostensibly based on the second part of the more...

The Gas Price Issue : Misunderstanding Basics – Willful or Unintentional?
Vijay L KelkarSeptember 15, 2014: One does not expect Vijay Laxman Kelkar to make mistakes but in the case of Swaminathan S Anklesaria Aiyar one might presume that he did not catch the point when he insists in his more...

How Did RIL, Hardy Negotiations Over Transfer Of PI Run Into Problems?
August 14, 2014: RIL with 90% PI is the operator of the block GS-OSN-2000/1. Hardy with 10% PI is the JV partner. The Phase -I Exploration period was from 16th August, 2001 to 6th July, 2008 including extensions. The total exploration period was up to 13th May, 2010. As per PSC MWP commitment for Phase-I of the more...

First Budget of Modi Government seems a letdown for the Oil & Gas sector
July 11, 2014: The Budget presented by Finance Minister Arun Jaitley had precious little for the oil and gas sector, belying the many hopes of both producers and consumers who expected the Modi-led Government to shower largesse on producers so as to stimulate investment in the economy.  more...

Indian Oil Corporation's Oil Price Risk Management
July 1, 2014: How Did  IOC's Oil Price Risk Management Work? We have obtained the IOC management's own assessment of the performance. Indian Oil Corporation's Oil Price Risk Management Oil more...

Unfinished MWP- Cost calculations pending for decision by MoPNG on related PSC issues
June 26, 2014: Computation of cost calculation of Unfinished Minimum Work Program can get complicated due to different reasons such as extension of exploration phases, operator seeking Force majeure, excusable delay etc. Part-II deals with cases pending decision by Petroleum Ministry on related PSC more...

Cost calculations already sent & yet to be approved by MoPNG
June 24, 2014: Production Sharing Contract under NELP has a provision for Minimum Work Program (MWP) which the contractor is duty-bound to honour. If not, the cost of Unfinished MWP will have to be paid to the government. The computation of the cost of Unfinished MWP is a bone of contention between the contractor and DGH. We have collected the more...

E& P Activities In India's North East Under PSC Regime
June 20, 2014: Under the PSC regime, 31 exploratory blocks have been awarded in the North Eastern states (Arunanchal Pradesh-1, Assam-19, Manipur- 2, Mizoram- 3, Nagaland-2, Tripura-4) covering an area of 43,722 square kilometre. 9 blocks have been relinquished (Arunanchal Pradesh-1, Assam - 6, more...

What Does MoPNG Expect From Site Restoration Consultant?
June 19, 2014: Ministry of Petroleum and Natural Gas and Directorate General of Hydrocarbons are in the process of identifying a consultant for Guidelines on Site Restoration for Petroleum Operations. What do they expect from the consultant? We have collected the details. more...

Indian PSU Refineries Improve Their Performance
June 17, 2014: Indian public refineries strive to continuously upgrade the technologies in line with the international trend and as per the requirement. Indian refineries have accorded top priority for reducing the energy consumption through various energy conservation measures. Centre High Technology (CHT) had more...

ONGC’s Delayed Projects Costing More than Rs 5 Billion: Part-2
Oil and Natural Gas Corporation (ONGC) has quite a few projects costing more than Rs 5 billion whose execution has been delayed. These include projects in Mumbai High. We have obtained the details of these projects which are being released in two parts. more...

ONGC's Delayed Projects Costing More than Rs 5 Billion: Part-I
June 5, 2014: Oil and Natural Gas Corporation (ONGC) has quite a few projects costing more than Rs 5 billion whose execution has been delayed. These include projects in Mumbai High. We have obtained the details of these projects which are being released in two parts.  more...

Views
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...

Oil Slick Ahoy! The surge potential of oil prices is hard to assess, but we must prepare for a 10% increase over 2011 levels
The recent surge in crude oil prices is a whollyunpleasant development. Oil prices had increased by 30% in 2010 and by another 40% in 2011. It was a reasonable expectation that in 2012, notwithstanding the slow pace of growth in the developed world and some slowing in growth in the developing world too, oil prices would more...

Go All The Way: Let market determine fuel prices, not politics
The hike in diesel, LPG and kerosene prices will narrow the gap between diesel and petrol prices, but also act as a spur to inflation. The former effect is welcome, the latter hardly so. The gap that had been widening between petrol and other fuels reflected bad policy both from socio-economic and environmental points of view. more...

Personalities
S.K. Srivastrava - A Profile
S.K. SrivastavaSunil Kumar Srivastava took over as Chairman & Managing Director of the state owned explorer, Oil India, in May 2012. Realizing that Oil India has limited opportunity more...

Narendra K. Verma Is OVL’s MD
Narendra K VermaNarendra K Verma is the new managing director of ONGC Videsh Ltd. Mr. Verma has been Director (Exploration) of the Maharatna ONGC since April 1, 2013 after having a long illustrious career spanning more more...

Yogeshwar Sharma To Step Down As Director
Yogeshwar SharmaYogeshwar Sharma, Non-Executive Director, has informed the Board of Hardy Oil and Gas plc of his decision to step down as a director with effect from 30 September 2014. more...

IOC Drops Four Independent Directors
K Jairaj, Nesar Ahmad, Sunil Krishna and Sayan Chatterjee have ceased to be independent directors on the board of the company on August 27, 2014. Jairaj was a member of 1976 batch of the IAS and retired as the additional chief secretary in the Karnataka government. Sayan Chatterjee (1975 batch IAS more...

Indian Petro Scene - In a Nutshell
Vast areas of India’s sedimentary basins remain unexplored. The exceptional discoveries of oil and gas in recent years have placed India firmly on the global oil and gas map and brought about a  paradigm shift in the minds of potential investors in the upstream sector in India. India imports more than 70 per cent of its crude requirement which is the single biggest item of foreign exchange outgo. But at the same time petroleum exports constitute the country’s single largest item of foreign exchange earner. Till about 12 years ago, the petroleum sector was almost totally controlled by national oil companies. Today, there are many players both in the upstream and downstream sectors. Indian oil scene looks vibrant.

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Petro Intelligence [FREE Access]
KG-D6: BP’s Dummy Run
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Gas Price Hike: A Sisyphean Saga
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Rangarajan Formula: Masterstroke Of Five Fallacies
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Foreign Investment
Kuwait Petroleum Eyes Stake In Indian Refinery
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Overseas Investment
ONGC Videsh Signs Pact With Argentinian Firm
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Gas Scene
SAGE’s Middle East- India Deep Water Gas Pipeline Gaining Acceptability
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Existing & Projected Re-gasification terminals and their capacity
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Natural Gas Production In 2013-14
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Projected production of domestic gas, and demand for gas in coming years.
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Which are the top 10 consuming countries of RLNG? How does India compare with them?
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Gas pricing provisions under NELP
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India's Total Gas Consumption In Last Five Years
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Natural Gas Prices In The Domestic Market
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Details Of India’s Long Term Contracts For RLNG
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Presentation on Gas Price Issues
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GAIL's Investment and Partners In City Gas Joint Ventures
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NFCL Says Unavailability Of Gas Can Lead To Accidents in Its Plant
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Great Eastern Energy is the operator of Raniganj block with 100 per cent Participating Interest.
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Different taxes and duties that are included in the prices of PNG & CNG
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Salient Features Of Turkmenistan - Afghanistan - Pakistan – India (TAPI) Gas Pipeline Project
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IOC's Spot / Short Term RLNG Purchases during October 2013 to March 2014
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Difference In Specifications Of LNG Ships In GAIL's Two Proposals
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GAIL's Proposal To Bail Out Gas-starved RGPPL
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National Gas Hydrate Program Seeks Defence Clearance For R& D Wells
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Gas Production Status of D1, D3 Fields Of RIL-operated KG D6 As On April 21
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Full Text: MoU Between US DOE & India’s MoPNG On Cooperation In Gas Hydrates.
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India's CGD Infrastructure, CNG,PNG Prices, Taxes On CNG & PNG
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DGH Note On Present Production Status of RIL-operated DI, D3 & MA Fields
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Details of region-wise gas pipelines, gas consuming states, upcoming pipelines, promoting companies and design capacity.
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General Consumer Price of Natural Gas in India
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Story Of India's Rise From Net Importer To Net Exporter of Petroleum Products
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Secret Of Oil Marketing Companies' Profits
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Quantities Uplifted from Private Refineries by OMCs
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Crude Oil Procurement Plan: 2014-15
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Impact of increase in prices of petroleum products on Inflation?
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Details Of Crude Processed in Indian Refineries In Last 10 years, Capacity Utilisation
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Crude Supplies From Iraq Continues Unaffected By Turbulence
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India's rising crude import dependence
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Retail Selling Price of AUTOMOTIVE FUELS in Indian cities as on 10st September, 2014
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Who Enjoys What Share In India’s Crude Import Basket?
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Additional Secretary Committee Report On Review of Royalty Computation
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What is the quantum of petroleum products India will produce in FY 2014-15?
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Crude Oil Production Estimate: 2014-15
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Demand Estimates for Petroleum Products For FY 2014-15
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India’s Estimated Import Bill On crude, Products, LNG In Different Scenarios For FY 2014-15.
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Product-wise petroleum supply-demand situation for FY 2014-15
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DGH- Prepared Production Status Report On RIL-operated D1, D3, MA Fields
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India's Refining Capacity, Existing, Under Expansion, New Refineries
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Details of OVL's Assets (As on January, 2014)
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South Asia LPG Co. Pvt. Ltd’s Performance In 2013-14
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ONGC’s Exploratory Success In Last 6 Years
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Retail Marketing of Petroleum Products in India
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Status of major pending issues relating to the Petroleum and Natural Gas Sector.
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Exploratory Inputs Expended By PSUs, Indian Private Cos, Foreign Cos
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LPG Demand-Supply Scenario, Pipeline Capacity Proposed
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MRPL's Unit Shutdown Plan For FY 2014-15.
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Details of Orders GAIL Placed On Rolls Royce
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Year-wise, Block-wise Details of Profit Petroleum Payments Received by Government.
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Package-wise Physical Progress of Paradip Refinery Project (PDRP) as of February 2014
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Status of ONGC’s marginal field development
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Tenders [FREE Access]
Indian Oil Corporation Ltd.
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