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Construction & Infrastructure News

Petrol consumption to grow 6% in FY 2017-18

September 2016

India's petroleum consumption will grow at 6 per cent in financial year (FY) 2017-18, double the rate at which fuel demand in China is projected to g...

India petroleum consumption, Moody Investors Service, China slowing economic growth, Asian refiners

Indian consortium to buy stake in Russian oilfield for $3.14 bn

September 2016

Indian Oil Corp, Oil India and a unit of Bharat Petroleum Corporation (BPCL) will buy a 29.9 per cent stake in the Taas-Yuryakh oilfield in East Sibe...

Indian Oil Corp, Oil India, Bharat Petroleum Corporation, East Siberia, Taas-Yuryakh oilfield, Vankor oilfield, CCEA, Taas-Yuryakh Neftegazodobycha LLC, LLC RN-Razvedka I Dobycha, Rosneft

OVL seeks oil in lieu of $537 million due from Venezuela

September 2016

ONGC Videsh Ltd, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), is seeking $537 million worth of crude oil in lieu of cash due for ...

ONGC Videsh Ltd, ONGC, Crude oil, Venezuelan oilfield, San Cristobal field, PDVSA, Petroleos de Venezuela SA, Orinoco Heavy Oil belt

Higher oil demand growth expected this year

September 2016

India’s oil demand growth is set to exceed 11 per cent this year as the world's third-largest oil and gas consumer accelerates its economic developme...

Petroleum, Natural Gas Dharmendra Pradhan, London, Economic activity

Foreign companies ready to partner HPCL-GAIL JV for AP project

September 2016

A few foreign players have expressed interest in partnering with Hindustan Petroleum (HPCL) and GAIL to build a petrochemicals complex in Andhra Prad...

Hindustan Petroleum, GAIL, HPCL, Mukesh Kumar Surana, JV

Indian petroleum goods to pass through Bangladesh

September 2016

Indian Oil Corporation and the Roads and Highways Department of Bangladesh have signed a Memorandum of Understanding in Dhaka. The MoU enables IOC to...

Indian Oil Corporation, Roads and Highways Department of Bangladesh, Memorandum of Understanding, Trucks carrying motor spirit, High speed diesel, Superior kerosene oil, Liquefied petroleum gas, IOCL trucks

Antwerp Port to help develop AP ports

September 2016

Belgium´s Antwerp Port Authority, which operates the largest port in Europe after Rotterdam, has offered its expertise to explore trade through ports...

Belgium Antwerp Port Authority, Port, Greenfield port, Smart Cities, Petroleum clusters, Inland waterways

KG-D6 | RIL hit by $380 mn additional penalty

September 2016

The government has slapped an additional penalty of $380 million on Reliance Industries and its partners for producing less than targeted natural gas...

Reliance Industries, KG-D6 fields, Natural gas, Government of India, Profit Petroleum
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