Category Archives: OilGas
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India asks state refiners to partly pay in rupees for oil supplies from Gulf
Posted on March 6, 2024 by Diligentia News in OilGas.The Reserve Bank of India has asked the country’s major state-owned refiners to press Gulf suppliers to accept at least 10 percent of oil payments in rupees in the next financial year, three executives at the processors said. The move is aimed at promoting the Indian currency in international trade and cutting dependence on dollars, […]
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Possibility of setting up LNG plant being explored in Rajasthan
Posted on March 6, 2024 by Diligentia News in OilGas.Rajasthan State Gas Limited (RSGL) has started exploring the possibilities of setting up a LNG plant in the state, Mines Secretary Anandhi said during a meeting of the board of directors of RSGL held at the Secretariat here on Monday. With the setting up of the liquified natural gas (LNG) plant, the future fuel demand […]
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BPCL, HPCL, Oil India bag license for building gas infra in J&K, Northeast
Posted on March 6, 2024 by Diligentia News in OilGas.State-run oil Oil India Ltd (OIL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL), among others bagged the licenses for building gas infrastructure in the Northeastern states and Jammu and Kashmir under the 12th city gas distribution (CGD) bidding round. The 12th CGD bidding round constituted 8 Geographical Areas (GAs) across 6 […]
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India to pump Rs 410 billion into natural gas network for Kashmir, Northeast
Posted on March 6, 2024 by Diligentia News in OilGas.According to Oil Minister Hardeep Singh Puri, India will invest a sizable amount—Rs 410 billion —into the expansion of its natural gas network in the Kashmir and northeastern regions. This significant investment will fuel the rollout of city gas networks, providing retail CNG to automobiles and piped cooking gas to households over the coming years. […]
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India turns cautious on contracted Russian oil as US sanctions bite
Posted on March 6, 2024 by Diligentia News in OilGas.India’s state-run oil refiners are shying away from contracted Russian crude supply as the once-booming trade becomes much harder under tighter enforcement of US sanctions. The biggest state-owned refiner Indian Oil Corp. will likely reduce the amount of crude received under so-called term supply, while Bharat Petroleum Corp. and Hindustan Petroleum Corp. have decided against […]
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Mahanagar Gas reduces price of CNG in Mumbai
Posted on March 6, 2024 by Diligentia News in OilGas.Mumbai-based Mahanagar Gas Ltd (MGL) has reduced the price of compressed natural gas (CNG) to Rs 73.50/Kg effective from midnight of 5th March 2024/ morning of 6th March 2024, the company said on Tuesday. “Due to reduction in gas input cost MGL is pleased to announce reduction in CNG price by Rs 2.5/Kg in and […]
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Hardeep Singh Puri inaugurates 201 CNG stations and India’s first small-scale LNG unit
Posted on March 6, 2024 by Diligentia News in OilGas.Hardeep Singh Puri, Union Minister for Housing & Urban Affairs & Minister for Petroleum and Natural Gas inaugurated 201 CNG stations of GAIL India across the country. The minister also inaugurated what it said to be India’s first small-scale LNG unit at Vijaipur in Madhya Pradesh. The CNG stations have been set up with an […]
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Nayara Energy exports decline by 10% in 2023 as domestic demand surges
Posted on March 5, 2024 by Diligentia News in OilGas.Nayara Energy, India’s largest private fuel retailer, saw petroleum product exports drop by 10 per cent in 2023 as it supplied more products domestically to meet the fuel demands of a growing economy, sources said. Nayara, which operates a 20 million tonne a year oil refinery at Vadinar in Gujarat and a network of over […]
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First crude oil offtake from new FPSO represents ‘historic achievement in India’s energy sector
Posted on March 5, 2024 by Diligentia News in OilGas.India’s government-owned energy giant Oil & Natural Gas Corporation (ONGC) has held a flag-off ceremony for the first crude oil offtake from a floating production, storage, and offloading (FPSO) vessel, which is working at what is said to be the first deepwater development located off India’s east coast. Following the FPSO Armada Sterling V’s first […]
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India talking to Guyana, Suriname, Namibia for oil import: Hardeep Singh Puri
Posted on March 5, 2024 by Diligentia News in OilGas.India has been talking to Guyana, Suriname and Namibia regarding oil cooperation, informed Union Petroleum Minister Hardeep Singh Puri on Monday while asserting that there is no shortage of crude oil globally. His statement comes as the Organization of the Petroleum Exporting Countries and its allies (OPEC+) are extending their voluntary oil output cuts of […]
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