India will chart its own course of energy transition in a responsible manner even as it is said to be a key driver of global energy demand in coming decades, Oil Minister Dharmendra Pradhan said on Tuesday. As the world battles alarming rates of carbon emission threatening the environment?, countries around the globe face pressure […]Continue Reading... No Comments.
Global oil and gas majors are looking to India, the world’s third biggest oil importer, to buy some of their excess liquefied natural gas (LNG) as the South Asian nation improves its gas infrastructure and strives to reduce emissions. Spot LNG prices have more than halved since last year due to oversupply as producers battle […]Continue Reading... No Comments.
Royal Dutch Shell still sees abundant opportunity to make money from oil and gas in coming decades even as investors and governments increase pressure on energy companies over climate change, its chief executive said. But in an interview with Reuters, Ben van Beurden expressed concern that some shareholders could abandon the world’s second-largest listed energy […]Continue Reading... No Comments.
Amid reports of ONGC’s inability to derive any benefit out of its HPCL acquisition, Oil Minister Dharmendra Pradhan on Monday said the state-owned firm was free to sell its stake in the oil refining and marketing company. In its most expensive acquisition ever, Oil and Natural Gas Corp (ONGC) last year paid Rs 36,915 crore […]Continue Reading... No Comments.
American oil and gas firm, ExxonMobil, on Monday said it has signed a memorandum of understanding (MoU) with Indian Oil Corporation (IOC), India’s largest fuel retailer, to expand liquefied natural gas (LNG) initiatives in the country. “What really matters is how we accelerate India’s access to affordable, cleaner energy. We see great potential here, and […]Continue Reading... No Comments.
French energy giant Total SA as well as oil-to-telecom conglomerate Reliance Industries are unlikely to bid for acquiring India’s second biggest oil refining and marketing company BPCL, while UK’s BP plc said it wants to see what is on offer before deciding to bid. The government is looking at selling its 53.29 per cent stake […]Continue Reading... No Comments.
The Union Cabinet may by next month consider a proposal to hive off state-run gas utility GAIL (India) Ltd’s pipeline business into a separate entity but its sale to a strategic investor may not happen before 2022, sources privy to the development said. GAIL is India’s biggest natural gas marketing and trading firm and owns […]Continue Reading... No Comments.
Reliance Industries will pay for Venezuelan crude oil via exports of diesel in a barter arrangement as it resumed taking supplies from the US sanctions-hit Latin American nation after a gap of four months. Although US oil sanctions imposed on Venezuela in January 2019 have no direct secondary component, oil companies such as Reliance Industries […]Continue Reading... No Comments.
Oil Minister Dharmendra Pradhan today appealed to Finance Minister Nirmala Sitharaman to take up the petroleum sector’s long-pending demand of including petroleum products under the ambit of Good and Service Tax (GST). “There has been continuous demand from the petroleum industry for inclusion of petroleum products under GST regime. I make a strong appeal to […]Continue Reading... No Comments.
Proposed construction of a gas pipeline of Oil India Limited (OIL) beneath the Maguri Motapung Beel near the Dibru Soikhowa national park in eastern Assam’s Tinsukia district has shocked the wildlife lovers as well as the conservationists. While the OIL had already constructed an oil pipeline over the 1,000 hectare wetland, the proposed construction of […]Continue Reading... No Comments.