Oil and Gas

The Petroleum and Natural Gas Regulatory Board (PNGRB) has fixed the transportation tariff of GAIL (India) Limited’s 3,452 km long pipeline from Hazira in Gujarat to Jagdishpur in Uttar Pradesh via Vijaipur in Madhya Pradesh […]

Indian Oil Corporation Limited (IOCL) has joined hands with other oil marketing companies (OMCs) – Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL) – for laying the world’s longest liquefied petroleum gas […]

GAIL (India) Limited is likely to commission the Kochi-Kanjirakode-Bangalore/Mangalore gas pipeline project by July 2019. The project, being implemented by GAIL, involves the construction of a 1,156 km long pipeline with a capacity of 16 […]

The Oil and Natural Gas Corporation (ONGC) is planning to spend around Rs 657.73 billion for ramping up production from 13 field development projects and three enhanced oil recovery/improved oil recovery (EOR/ IOR) projects. As […]

Reliance Industries Limited (RIL) and its exploration and production partner BP Plc have announced the sanction of the MJ project (also known as D55) in Block Krishna Godavari-D6. MJ is the third of three new […]

The Oil and Natural Gas Corporation (ONGC) has stated a preference for a cash deal instead of a share swap for the planned acquisition of Mangalore Refinery and Petrochemicals Limited (MRPL) by Hindustan Petroleum Corporation […]

The Gujarat Maritime Board (GMB) has decided to acquire around 40 per cent equity stake in the Mundra liquefied natural gas (LNG) terminal, likely to be commissioned by July 2019, at an investment of Rs […]

The Ministry of Finance is evaluating the economic costs associated with importing oil from alternative markets such as Iraq and Saudi Arabia. This is due to the withdrawal of sanction waivers by the US on […]

In the backdrop of the oil supply crunch due to withdrawal of sanction waivers by the US, Aramco has offered to increase crude oil supplies to India by 200,000 barrels per day. This additional supply […]

The US is likely to extend the sanction waiver for India. The sanction waiver extension will let the country continue buying Iranian oil as the existing sanction waiver expires in May 2019. In November 2018, […]

Ethanol blending with petrol is estimated to reach 7.2 per cent in the 2018-19 marketing year (December 2018 to November 2019) as against 4.22 per cent in the 2017-18 marketing year. Against a requirement of […]

The Petroleum and Natural Gas Regulatory Board (PNGRB) has scrapped its plan to force liquefied natural gas (LNG) terminals in the country to reserve a share of their capacity for common use after the move […]

Supply of Euro-VI grade petrol and diesel has commenced in cities adjoining Delhi. In April 2018, Delhi became the first city in the country to shift from Euro-IV grade petrol and diesel to Euro-VI grade. […]

Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation Limited and GAIL (India) Limited have exceeded their capital expenditure targets for 2018-19 owing to heavy expenditures on refinery upgrades, pipelines and marketing infrastructure. […]

The government has extended the bid due date for the second round of auctions of 14 oil and gas blocks under the Open Acreage Licensing Policy (OALP) from April 10, 2019 to May 15, 2019. […]

The Cabinet Committee on Economic Affairs (CCEA) has approved the Pradhan Mantri JI-VAN [Jaiv Indhan-Vatavaran Anukool fasal awashesh Nivaran] Yojana. The programme will provide financial support to integrated bioethanol projects using lignocellulosic biomass and other […]

The central government signed the contract for award of 23 contract areas to 14 companies under the second round of auctions of Discovered Small Fields (DSF-II) on March 7, 2019. A total of 14 companies […]

The MoPNG distributed letters of intent to 12 successful entities for 50 geographical areas (GAs) under the tenth CGD bidding round, recently awarded by the Petroleum and Natural Gas Regulatory Board. The successful bidders are […]

The Ministry of Shipping has issued guidelines for setting up floating storage and regasification units (FSRUs) for handling liquefied natural gas (LNG) cargo at major port trusts. These include adoption of the land licence model […]

The Ennore LNG terminal project was inaugurated on March 6, 2019. The project has been developed by IOCL through Indian Oil LNG Private Limited, a special purpose vehicle (SPV), incorporated for the project. It involved […]