Cabinet approves revision of ethanol price

November 2016

The Cabinet Committee on Economic Affairs has approved the mechanism for revision of ethanol price for supply to Public Sector Oil Marketing Companie...

Tags: Cabinet Committee, Economic Affairs, Ethanol Blended Petrol, Public Sector Oil Marketing Companies

PETROTECH-2016 to be organised at New Delhi from 5 to 7 December 2016

November 2016

PETROTECH-2016, the 12th International Oil & Gas Conference and Exhibition, will be organised by the Ministry of Petroleum and Natural Gas at New Del...

Tags: PETROTECH-2016, 12th International Oil & Gas Conference and Exhibition, Ministry of Petroleum and Natural Gas, KD Tripathi, BRICS, CELAC

Cargo traffic at Major Ports grows by 5.2percent

October 2016

Major Ports in India handled 315.4 MT of cargo during the first six months of FY2016-17 (April-September) and showed a positive growth of 5.1 per cen...

Tags: Major Ports, Ministry of Shipping, Mormugao Port, Paradip, VO Chidambaranar, Kandla Port, Cargo handled, Karmajar Port, Vishakhapatnam Port, Petroleum, Oil, Lubricants, Fertilisers

Petrol consumption to grow 6percent in FY 2017-18

October 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...

Tags: India Petroleum Consumption, Moody Investors Service, Economic growth

Higher oil demand growth expected this year

October 2016

India´s oil demand growth will exceed 11 per cent this year as the world´s third-largest oil and gas consumer fires up its economic development, said...

Tags: Petroleum, Natural Gas Dharmendra Pradhan, Oil, Gas Consumer Fires, Economic development

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...

Tags: 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

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...

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

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 ...

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