Policy
Will Rising Crude Oil Prices Touch $100 Per Barrel?
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Russian Urals tops India’s imports Even After Discounts Drop
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India’s LNG Import To Surge If Spot Prices Come Down Further
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Prospects Of Achieving 15 % Share For Natural Gas In Energy Mix By 2030
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India Fails To Increase Domestic, Overseas Oil Production
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Regulation
Is India Trying To Become Global Leader In Producing SAF?
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Underutilisation Of LNG Terminals Capacity Prompts Fresh Move By Regulator
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Entering Indian Crude Basket Is Not Going To Be Easy For Russian Crude
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Windfall Tax System Turns Out To Be Effective, Efficient In Implementation
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Alternative Energy / Fuel
How Solar Energy Benefits Millions In India
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New Projects
GAIL’s Urja Ganga Gas Pipeline Completion Delayed
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Announce BPCL Refinery For Andhra Pradesh In Budget 2024
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World Bank Approves Additional $1.5 Billion In Financing To Support India’s Low-Carbon Transition
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Market Watch
Aether Industries Signs Supply Deal With Baker Hughes
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Companies
Texol Lubritech FZC
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L&T Bags Offshore Pipeline Order From ONGC
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ONGC And IOCL Partner To Establish LNG Plant Near Hatta Gas Field
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Press Release [FREE Access]
Latest Exclusives

July 19, 2024: When domestic players uniformly fail in achieving the production targets there can be something basically wrong with the target fixing exercise. Almost all of them (except ONGC) exceeded the natural gas production level of June 2023 but targets for June 2024 eluded them by a big margin. Click column Gas Scene for details.


July 18, 2024: There is absolutely no reason why India’s import of crude oil should fall in FY '25. On present indications, the annual growth in import can be more than the level in FY '24. Click column Special Database for details such as total quantity imported during the first quarter of FY '25 and its value in dollars and Indian Rupee.


July 10, 2024 | Oil product exports: India must abandon a pipedream | India has a few badges of honour: it is the third largest importer of crude oil, the fourth largest buyer of LNG, and the second largest importer of LPG (cooking gas). These badges signify a very high level of dependence on energy imports for a country which aspires to become the third largest economy in the next five to six years. Some experts, however, make a big deal about the fact that India is now ranked as the largest exporter of petroleum products in Asia. There is a growing perception among certain energy experts that India should focus on exports of petroleum products in a bigger way. For this, India needs to ramp up its crude oil refining capacity. Some experts are sceptical about plans to expand petroleum refining capacity to levels that will more than cover its own needs. According to them, India has no marginal advantage in refining crude as it imports about 88% of what it refines. Click Free Access column Petro Intelligence to read an interesting piece.

Today's News [FREE Access]
ONGC to pay Equinor $60 mln for stake in Caspian Sea oil assets
July 20, 2024: ONGC Videsh has signed a $60 million deal with Norwegian energy giant Equinor to raise its stake in the offshore Azeri Chirag Gunashil (ACG) oil field in the Caspian sea and linked pipeline, the Indian company said on Friday. OVL, the overseas investment arm of India's top explorer, will buy   more..


India slashes crude oil imports by 5.1 per cent, ramps up processing amid global price surges
July 20, 2024: In a strategic shift responding to global oil market fluctuations, India has reduced its crude oil imports by 5.1 per cent while boosting its domestic crude oil processing by 3.1 per cent in June 2024 compared to the same month last year, according to the latest data released by the Petroleum Planning and   more..


BPCL Q1 results: Net profit declines 71% to Rs 30.15 billion on higher costs
July 20, 2024: India's Bharat Petroleum Corp (BPCL) reported a plunge in first-quarter profit on Friday, weighed down by lower marketing margins and higher raw material costs.   The state-owned firm's standalone net profit fell 71% to Rs 30.15 billion (around $360 million) for the three months   more..


New reservoir in OIL’s Dirok gas field gets tested, flows 6 mscf gas/day
July 20, 2024: Union Minister for Petroleum and Natural Gas Hardeep Singh Puri has announced the successful testing of a new natural gas reservoir in the Dirok gas field owned jointly by Oil India Limited (OIL) and Indian Oil Corporation (IOC) in Tinsukia district of Assam. In a post on X, the minister said on Friday that a   more..


ONGC, Indian Oil Invested Rs 165 billion in Q1 Capex
July 20, 2024: During the first quarter of this financial year, ONGC and Indian Oil Corporation spent ₹80 billion and ₹85 billion, respectively, on capital expenditures, depleting about 25% of their annual spending budgets. The overall capital expenditure target for state-owned oil businesses for   more..


LNG imports up on higher power demand
July 20, 2024: India’s import of Liquified Natural Gas in June rose by 11% to 2,648 mmscm (million standard cubic meter) as the country’s consumption of gas increased by 7% primarily due to the rising demand for power and increased utilisation of gas based power capacities, data from the Petroleum Planning and   more..


India’s Natural Gas Demand Projected to Surge by 8.5% in 2024
July 20, 2024: India’s natural gas consumption is set to rise by 8.5 percent in 2024, driven by increased demand from the power and industrial sectors, according to the International Energy Agency (IEA). The IEA’s Q3 2024 gas market report forecasts an 8.5 percent increase in India’s natural   more..


LNG as a fuel for heavy commercial vehicles looks brightest, says IOC Director Sujoy Choudhary
July 20, 2024: Liquefied Natural Gas (LNG) stands out as a promising alternative fuel option for large trucks and other heavy-duty commercial vehicles and is a sunrise segment in clean transportation, according to Sujoy Choudhary, Direct for Planning & Business Development at Indian Oil Corp. “The   more..

Petropulse / Guest Column
Impact of Ukraine war on International LNG trade. Lessons for India
by Dr Bhamy Shenoy Bhamy ShenoyRussian-Ukraine war has brought about dramatic changes in international gas and oil sector because of the oil embargo by the west and gas more...

IOG Exclusive
Double Trouble
By R. Sasankan If you ignore history, you are condemned to repeat it. The stark truth of this aphorism came back to me the other day when I read a Reuters report that said Indian Oil Corporation was aiming to double the capacity of its liquefied natural gas more...

Cheap Crude Does Not Benefit PSU Refineries
By R. Sasankan Parliamentarians in India have a heart-warming desire to shape public policy; the trouble is that in their eagerness to do something - anything - they can allow the nobility of their intention to smother the practicality of their proposed interventions. In their zeal more...

Single Agency Needed To Acquire Overseas Energy Assets
By R. Sasankan India is a country of many paradoxes – and it is this quality that makes it hard for policy makers to find the right palliative for its myriad problems. The country is one of the fastest growing economies in the world and hopes to become a $ 5 trillion more...

Tackling Blowback From Sanctions
By R. Sasankan India and the US have developed close ties over the past few years as they perceive China to be a common enemy whose reach and influence must be circumscribed. On its own, India cannot counter China’s growing ambitions in the Asia-Pacific region. Likewise, more...

Gas Ratio Target: Time For A Revision?
By R. Sasankan When Prime Minister Narendra Modi announced his ambitious objective to raise the contribution of natural gas in India’s energy mix to 15 per cent by 2030, the experts in the petroleum industry were left astounded by the boldness of the claim. more...

West Coast Refinery Continues To Battle A Jinx
By R. Sasankan Industrial projects in India can never seem to skirt controversy and invariably go through a prolonged period of uncertainty as promoters fret over the roadblocks they face. The intensity of the controversy is directly proportional to the size of the more...

Can The Downstream Man Bail Out ONGC?
By R. Sasankan “New Delhi: Under-investment in the Oil & Gas sector could hamper India's progress, Arun Kumar Singh, Chairman and CEO of state-owned Oil and Natural Gas Corp (ONGC), has warned. National Oil Companies around the world are facing increasing pressure more...

Oil PSUs In Trouble Again
By R. Sasankan International price of crude oil has risen by 30% in the third quarter of 2023. Global crude oil inventories are at seasonal lows and production cuts, announced transparently by OPEC+ till the end of December 2023 amount to about 3.3 million barrels a more...

Gas Ratio Target: Time For A Revision?
By R. Sasankan When Prime Minister Narendra Modi announced his ambitious objective to raise the contribution of natural gas in India’s energy mix to 15 per cent by 2030, the experts in the petroleum industry were left astounded by the boldness of the claim. more...

Tackling Blowback From Sanctions
By R. Sasankan India and the US have developed close ties over the past few years as they perceive China to be a common enemy whose reach and influence must be circumscribed. On its own, India cannot counter China’s growing ambitions in the Asia-Pacific region. Likewise, more...

Special Reports
The Failing Climate Negotiations – And the Need for India’s Leadership in Representing the Global South
Surya P. SethiMay 16, 2024: Dr Surya P.Sethi, eminent energy expert, wirtes on the Failing Climate Negotiations – And the Need for India’s Leadership in Representing the Global South. Click more...

Qatar pauses Red Sea LNG traffic: ICIS analyst view
January 18, 2024: Click HERE to read article by Alex Froley, LNG Market Analyst at ICIS, examines the possible effects of ongoing disruptions in the Red Sea on global LNG trade. more...

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...

Views
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...

Personalities
Vivek Chandrakant Tongaonkar Takes Charge As ONGC Director (Finance)
Vivek Chandrakant TongaonkarThe Oil and Natural Gas Corporation (ONGC) announced the appointment of Vivek Chandrakant Tongaonkaras the new Director (Finance). Tongaonkar, an industry veteran with over 37 years more...

Y Reddy Appointed CGM Of Petronet LNG
Yogananda Reddy has been designated as CGM, Vice-President (Technical & HSE), and Chief Risk Officer of the Petronet LNG Ltd Board with effective from 1st July 2024. Y. Reddy, 57 years old, has over 34 years of experience in industrial plant operations and maintenance, he brings valuable expertise to his profession. He more...

Mundkur S Kamath Gets Additional Charge As Director (Finance) Of MRPL
Mundkur S KamathMundkur S Kamath, who is presently serving as Managing Director (MD) of MRPL, has been assigned additional charge of Director (Finance) for a period of three months with effect from July 2, or till the more...

Oil India Approves Appointment Of Rupam Barua As Chief Financial Officer
Rupam BaruaOil India Limited approved the appointment of Rupam Barua, ED (F&A) as Chief Financial Officer ICFO] of the Company, effective 1s July, 2024. Currently, he is heading Finance & Accounts Department more...

IEX Board Reappoints SN Goel As CMD, Promotes Rohit Bajaj As Joint MD
Indian Energy Exchange Ltd (IEX) board has announced the reappointment of Satyanarayan Goel as Chairman and Managing Director (CMD) and the promotion of Rohit Bajaj to Joint Managing Director. more...

Indian Petro Scene - In a Nutshell
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.

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Petro Intelligence [FREE Access]
Oil Product Exports: India Must Abandon A Pipedream
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Disturbing Truth: No One Good Enough To Fit The Bill
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Time To Go Big On Crude Oil Deals With Russia
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Time For India To Revisit Gas Policy
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Foreign Investment
ADB, ENGIE SA Partner To Build 400 MW Solar Power Plant In Gujarat
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Overseas Investment
Texol Lubritech FZC Bags Order From Abu Dhabi National Oil
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Gas Scene
What Precisely Is Wrong With Fixing Of Natural Gas Production Targets?
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Highest Ever Natural Gas Consumption In May 2024
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India Still Wrestling With shale Gas & Oil Development Without Much Success
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Domestic Natural Gas Scene In May 2024
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Increasing Share Of RLNG In India’s Natural Gas Consumption
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Rise And Fall In India’s LNG Imports
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India’s Rising LNG Imports
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Domestic Natural Gas Scene in April 2024
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India’s LNG terminals Suffer From Low Capacity Utilisation
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Compressed Bio Gas Development In India
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Coal Bed Methane (CBM) gas development in India
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Natural Gas Pipeline Network In India
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India’s Rising LPG Consumption
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Break-Up Of R-LNG, Domestic Gas Consumed by Major sectors Of Indian Economy
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Price Factor Influencing Gas Import Dependency
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Domestic Natural Gas Scene in FY 2023-24
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
How Much Crude Oil Did India Import in the 1st Quarter of FY ’25?
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Declining Trend In Domestic Crude Production Continues in FY ‘25
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Stalemate In Indian Oil Corporation’s Upstream Operations?
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How Did Upstream Major ONGC Perform In FY ’24?; ONGC’s Own Assessment About Its Performance
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Impressive Growth in Alternative Fuel Marketing Infrastructure
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Share Of Domestic Crude In Petroleum Products Consumed
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Crude Importer India’s Petroleum Products Surpluses
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How Prices Moved In Indian Basket Of Crude In June?
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Analysis Of Petroleum Products Consumption Trend In FY 2024-25
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Banned Petcoke Is In Great Demand In India
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Consumption Of Petroleum Products Dips Marginally In May 2024
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Record breaking temperature aggravates power shortage pushing up diesel demand
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India’s Export And Import Of Petroleum Products Decline In May 2024
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Analysis Of Crude Oil Processed In Indian Refineries In May 2024
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Russian Crude retains Its India Share Undiminished, Imports From OPEC Up In May
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Increasing LPG Consumption Eluding A Solution
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Petroleum Products Consumption Growth Shrinks During April-May 2024
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Sharp Decline In GRMs Of State-Owned Refineries In FY ‘24
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Rising Oil production By Non-DoC Countries
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Indian Crude Basket Prices In May 2024
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Power Situation Heading For Difficult Days
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Tenders [FREE Access]
ONGC
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