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

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...

Tags: 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...

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