The City Gas Distribution (CGD) sector in India is set to register Compounded Annual Growth Rate (CAGR) of 10 per cent over the next decade through 2030 thanks to the government’s efforts to improve the share of natural gas in India’s primary energy mix to 15 per cent from 6 per cent currently. With the […]Continue Reading... No Comments.
Petrol and prices in the country have fallen sharply again even though global oil prices rebounded and rose over $43 a barrel marking its fifth consecutive day of rise. On Friday, the pump prices of petrol and diesel fell by 26 and 35 paisa per litre, respectively in the national capital making it one of […]Continue Reading... No Comments.
Oil refiners are permanently closing processing plants in Asia and North America and facilities in Europe could be next because of the uncertain prospects for a recovery in fuel demand after the coronavirus pandemic cut consumption. The pandemic initially cut global fuel demand 30% and refiners temporarily idled plants. But consumption has not returned to […]Continue Reading... No Comments.
Indian Oil Corp., one of the biggest refiners in Asia, is taking the bus to reach what it considers the future of energy: hydrogen. The company that sells almost half the oil products in India will deploy 50 buses around the capital powered by a blend of hydrogen and compressed natural gas, Chairman Shrikant Madhav […]Continue Reading... No Comments.
Hindustan Petroleum Corporation Ltd (HPCL) will invest over Rs. 600 billion for developing infrastructure during the next five years, Chairman Mukesh K Surana said at the company’s 68th annual general meeting on Wednesday. The investments will be made in HPCL’s refinery expansion and augmentation projects to increase the capacity of Mumbai Refinery to 9.5 million […]Continue Reading... No Comments.
Sale-bound Bharat Petroleum Corporation Ltd (BPCL) may buy out the entire stake of OQ, the erstwhile Oman Oil Company(OOC), in their Madhya Pradesh joint venture, the Bharat Oman Refineries Ltd (BORL). Government sources said that BORL became a subsidiary of BPCL in March this year and the next step now is to convert it into […]Continue Reading... No Comments.
Global demand for marine fuels is expected to fall by up to 17 per cent due to the impact of the coronavirus pandemic on world trade, setting the stage for more consolidation among bunker suppliers, an industry executive told a conference on Wednesday. Banks scaled back on their commodities trade finance after the coronavirus crisis […]Continue Reading... No Comments.
The Gujarat Chief Minister Vijay Rupani on Tuesday said Bhavnagar will become the first Compressed Natural Gas (CNG) terminal in the world, as the government has given its sanction to the Rs 1,900 crore brownfield project. The terminal will have a capacity of 15 lakh tons annually. He said the state government has given the […]Continue Reading... No Comments.
CNG sales in Delhi have risen to 85 per cent of the pre-lockdown level as the Arvind Kejriwal government progressively opened up markets, allowed businesses and other economic activities to resume after the Centre began lifting curbs since June. CNG sales rise to 85 per cent of pre-Covid level in Delhi-NCR Data from Indraprastha Gas […]Continue Reading... No Comments.
The spot price of liquefied natural gas (LNG) for delivery to north Asia is continuing to recover, but the increase appears to have more to do with supply issues than any rebound in demand. The spot price of cargoes for October delivery rose to $4.50 per million British thermal units (mmBtu) in the week ended […]Continue Reading... No Comments.