Policy
Sri Lanka’s Exploration Acreage May Trigger Fresh India, China Differences
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India’s Expanding Oil Trade With US, Crude Import, Products Export
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Diesel Prices In Global Markets May Go Up, RIL, NEL To Benefit
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India’s 4-Plank Strategy For Energy Security As Crude Imports Surge
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IndianOil Embarks On Net-Zero Journey, To Cost Rs 2000 Billion
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Regulation
OMCs To Be Compensated For Their Losses In Petrol, Diesel Sales
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Regulator PNGRB Wants Control Over Product Pipelines
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India To Have Ethanol Dispensing Pumps: Minister In A Hurry?
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India’s Shale Oil & Gas Exploration Activities At A Standstill?
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Alternative Energy / Fuel
Coadbed Methane Development Progresses Slowly
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New Projects
HRRL’s Barmer Project Completed Successfully
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SJVN To Set Up 90MW Floating Solar Plant
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Indo-Bangla Friendship Pipeline Likely To Be Commissioned In February
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Market Watch
Reliance Industries Suspends Natural Gas Auction From KG-D6 Block
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Companies
Hoegh LNG
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PetronetLNG Books Highest Ever Quarterly Profit
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ONGC Signs MoU For Energy Storage Project
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Press Release [FREE Access]
Latest Exclusives

February 1, 2023: The government has a say in the allocation of natural gas for various sectors of the economy. This is because domestic production is far short of demand and the gap is met through import of LNG. Click Column Gas Scene for sectoral allocation of natural gas in December 2022.


January 31, 2023: On January 28th we uploaded product-wise consumption of petroleum products in December 2022. Now, we are uploading an analysis of the consumption trend for the current fiscal year beginning April 1, 2022. Click Column Special Database for product-wise details.

January 25, 2023 | Crank Up The Oil Wells But Don’t Fall For The Hype: Back in the 1980s, with the launch of accelerated production plan at ONGC’s Bombay High offshore oilfield, India’s domestic output soared to a level where it could meet 80 per cent of the country’s crude oil demand. But that brief, self-indulgent period of relative energy security did not last for very long. A combination of several factors twisted the tale into a nightmarish ride into terrible uncertainty. Today, India imports 86 per cent of its crude oil requirement. But on the flip side, there is also a palpable sense of excitement triggered by a senior executive of ExxonMobil who recently said that he found the Indian geology highly prospective for oil finds and compared it to the attractiveness of oil rich Guyana. Petroleum minister Hardeep Singh Puri should do everything legally possible to attract oil multinationals and encourage domestic E&P companies to step up exploration efforts. But he must not allow himself to be taken for a ride by statements made by oil ‘pundits’ and business executives. In the early 1980s when the renowned international magazine Time carried an article which made the outlandish claim that India’s Godavari offshore was floating on oil. Click Free Access column Petro Intelligence for an exciting piece on the subject.
Today's News [FREE Access]
Economic Survey 2023 sees silver lining in imports as crude oil prices soften
February 1, 2023: The recent softening in the prices of crude oil augurs well for India’s petro imports, said the Economic Survey of India. “On the imports side, notwithstanding uncertainty surrounding the outlook on global crude oil prices, the recent softening in its prices augurs well for   more..


Reliance stops local petcoke sales, boosts imports -sources
February 1, 2023: Reliance Industries (RELI.NS) has stopped selling petroleum coke within India and boosted imports of the product to turn it into synthetic gas to power its refineries, according to two sources familiar with the matter and trade data. Petroleum coke is a carbon intensive solid residue left over   more..


Indian Oil Corp Q3 net dips 92% to Rs 4.48 billion on higher costs, forex losses
February 1, 2023: Indian Oil Corp Ltd (IOC), the country's top refiner, reported a 92.4% fall in third-quarter profit on Tuesday, hurt by static pump prices, higher costs and foreign exchange losses. The marketing under-recovery of oil marketing companies was hurt by retail prices that have remained   more..


AIL profit plunges 90% y-o-y in Q3
February 1, 2023: The country’s largest gas distributor, GAIL (India), on Monday reported a 90% year-on-year decline in net profit for the December quarter (Q3FY23) to Rs.3.9759 billion, owing to losses in the petrochemical and gas marketing business. Consolidated net profit of the state-run utility came   more..


Godrej & Boyce partners with Tecnimont for IOCL project
February 1, 2023: Godrej & Boyce, the flagship company of the Godrej Group, announces that its business Godrej Process Equipment, a leader in manufacturing custom-built process equipment, has delivered its heaviest equipment – xylene column from its state-of-the-art facility in Dahej, Gujarat. The   more..


Indian refiner MRPL swings to Q3 loss due to windfall tax
February 1, 2023: Mangalore Refinery and Petrochemicals Ltd (MRPL) posted a loss of ₹1.88 billion during the third quarter of the current fiscal against a net profit of ₹5.86 billion  in the corresponding period of the previous fiscal. The board of directors of MRPL, which met on January 30,   more..


IHC extends Adani financial lifeline
February 1, 2023: Abu Dhabi’s fast-growing International Holding Company (IHC) has announced plans to invest Dh1.4bn ($381m) into Adani Enterprises, which accounts for 16% of the ongoing $2.4bn equity sale meant to shore up the finances of the struggling Indian conglomerate. The IHC will channel the   more..


Time to investigate TotalEnergies’: Mahua Moitra amps up heat on Adani-Hindenburg row
February 1, 2023: Trinamool Congress MP Mahua Moitra has been bullish on the Adani-Hindenburg row that was triggered by the Hindenburg report on Gautam Adani and his conglomerate Adani group. The report flags massive stock manipulation by the richest Indian Asian for the congomerate, which Mp Moitra has stated was earlier   more..

Petropulse / Guest Column
Technology breakthrough transforms flaring gas to clean hydrogen
By Michael Stusch, CEO, H2 Industries | Gas flaring is now recognized as a major contributor to the emission of harmful gases affecting climate change and society by creating increased incidences of cancer in communities close to flaring sites. Sadly, flaring has been around for more than 150 years since more...

IOG Exclusive
Glut In US Crude Pushes Down Price : Indian Wrestling With Options.
On Friday oil prices went down by 5 per cent. WTI $67.50/barrel; Brent 76.40/barrel. This difference between WTI and Brent is confusing. Normally Brent should only be about $2 costlier at most. According to market experts, the lower WTI price has to do with a glut of production in the US and lack of more...

IOC steps into Oman with acquisition
Indian Oil Corp (IOC), the country's largest Oil Marketing Company (OMC), recently acquired global major’s Shell's stake (of 17 percent) in the Makhaizna oilfield in Oman for more...

Some good news for the Indian partners from Mozambique
The Mozambique project in which Indian firms ONGC Videsh Ltd (OVL) and Bharat Petro Resources Ltd (BPRL) have a stake has seen some positive news of late. Anadarko Petroleum’s, (the operator) plan to export LNG from Mozambique’s Rovuma Basin through its two trains moved closer to achieving the crucial Final more...

Visit of Iranian President opens a sliver of hope for Farzad-B deal?
The Indian side seems to be making one last concerted effort to revive the proposed Indian investment to develop the large Farzad-B field in Iran during the forthcoming visit of the Iranian President Hassan Rouhani to India. The field was discovered by the Indian consortium of ONGC Videsh (OVL), Oil India Ltd (OIL) and Indian more...

Indian PSUs to Aggressively Pursue EOR/IOR Projects
Faced with declining production from its ageing fields and encouraged by the scheme of incentives in the newly announced EOR (Enhanced Oil Recovery) policy, ONGC and Oil India Ltd (OIL) are preparing to enhance their investment in EOR projects. There has been no major commercial oil or gas discovery in India more...

Iran Announces Deals With Countries, No mention Of India
A senior Iranian oil official has indicated that his country was looking to sign big deals with companies from Russia, Europe, China etc- but there was no mention of India. Iran was also looking to sign large deals with Japanese, Chinese and Korean companies for upgrading some of its refineries. This development where India more...

ONGC’s Search For Producing Assets
In recent times, there has been considerable noise generated about the Government’s proposal to allow private sector firms to take equity stake in the blocks earlier given to the flagship PSU firms on a nomination basis. This was ostensibly to help increase production from these fields, as it was felt that the private more...

CERA Week sees plenty of action
There was plenty of action at the CERA Week held in New Delhi over the past few days. It was firstly in itself notable that this forum was held in India, being normally held in Houston. In fact, the Indian Petroleum and Natural Gas Minister Dharmendra Pradhan emphasized as much and also felt that going forward, the conclave more...

Hydrocarbon Re-assessment Exercise Progressing As Scheduled
The multi-organisation team comprising Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL) and Directorate General of Hydrocarbons (DGH) has been carrying out the exercise of reassessing hydrocarbon resources in the country. According to official sources, as on March 31, 2017, the team has completed more...

Special Reports
Can LNG replace Russian gas in Europe?
European LNG imports reached a record high in January 2022 and could go a little higher if Russian pipeline gas supply falls, or even stops completely. But the best-connected European LNG terminals are already running at high rates, and limits to cross-border pipeline gas capacity would restrict the wider benefit of higher imports into some... more...

Importance Of Offshore Wind Power
Offshore wind power market plays an important role in achieving the renewable target in most countries, but not in India. India needs a clear, time-bound, quantitative target for offshore wind development, and a roadmap of how to achieve it, says the Baroda-based Centre for Fuel Studies and Research, Click more...

Future Power Grid Vision - Grid Of Microgrids
The electric grid has been around for nearly 140 years, but it’s yet to overcome its biggest nemesis: the weather. Recent prolonged blackout in Texas (Snow storm) is showcasing that point as it suddenly rivals California (Forest wildfires) in proving the need for microgrids. Sustainable energy is the sustainable more...

Future of India’s transport story is renewable biogas
Vinod Paremalby Vinod Paremal | Biogas extracted from waste/bio-mass help India cut its dependency to import oil for meeting its needs. Petrol and diesel more...

Time for Introspection and redefining wealth and the basis for economic planning
Over emphasis on Gross Domestic Product (GDP) without taking into account the impact to Mother Earth’s Ecological systems (resource abuse) and consideration of equanimity for all has already shown the ill effects all around the world. And worse still is the fact that the sinner does not necessarily pay the price but more...

Views
Speech of Former Petroleum Secretary, T.S. Vijayaraghavan, on Indias Petroleum Sector
Demand & Growth: India's Crude Oil demand has risen from 0.65 Million Barrels a day in 1980 to 3.7 Million barrels and will reach 4 Million by 2016. Internal production is now less than 0.8 Million Barrels a day. It more...

The KG basin price hike socialises costs and privatises profits
Why the Rangarajan Committee's complex pricing formula will inflict heavy burdens on the power and fertiliser sectors and give a private gas producer windfall profits? The ministry of petroleum and natural gas has proposed to increase the price of natural gas from the Krishna Godavari (KG) more...

Fire From Ice: A Promising New Energy Source
Massive imports of oil and natural gas have exacerbated India’s big trade deficit, which is a hurdle to the acceleration of economic growth. Light at the end of the tunnel comes from a technological breakthrough last week by JOGMEC (Japan Oil Gas and Metals National Corporation). It succeeded in extracting natural gas more...

The Diesel Subsidy Hole
Under-recovery on diesel as per the Indian petroleum ministry website was . 10.94 a litre in February 2012 when the procurement price was . 37.80 per litre ($122.06 a barrel). The diesel under-recoveries are expected to exceed . 750 billion at average price of $95.66 a barrel while total annual shortfall due to fuel subsidies more...

Personalities
R K Jain Takes Over As Chairman Of IGL
R.K. JainJain, who is Director (Finance) at state gas utility GAIL (India) Ltd, took over as chairman of IGL on January 14. He is a Cost and Management Accountant by profession. Jain has worked in the areas of corporate more...

Nick Walker Appointed CEO Of Cairn Oil And Gas
Nick WalkerNick Walker has been appointed the chief executive officer of Vedanta’s Cairn Oil & Gas, India’s largest private oil and gas exploration and production company, effective from January 5, more...

K Suresh Shetty Will Be Director, HR At HPCL
K Suresh ShettyThe Public Enterprise Selection Board (PESB) has selected Kasargod Suresh Shetty for the post of Director, Human Resource in Hindustan Petroleum Corporation Limited(HPCL). The post became vacant more...

Indian Petro Scene - In a Nutshell
On April 10, 2021 www.indianoilandgas.com entered the 28th year of service to the Indian and international oil and gas industry. When the hardcopy version with its masthead, Indian Oil & Gas, came out 28 years ago, India’s petroleum industry was almost totally controlled by the government. India was not rated high either as a producer or consumer of crude and petroleum products. Today, India is the world’s third largest importer of crude and second largest importer of LPG and Asia’s largest exporter of petroleum products. Without violating the government norms regarding dissemination of information, www.indianoilandgas.com has been consistently helping the industry with authentic articles and data on all areas of oil and gas industry.

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Petro Intelligence [FREE Access]
Crank Up The Oil Wells But Don’t Fall For The Hype
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India May Explore Swap Deals For Sakhalin-II LNG
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Gas Pricing Report: Burden Falls On The Public Sector
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The Lost Terminals: Writing On The Wall That No One Seems To See
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Foreign Investment
IndianOil’s Aluminium-Air Battery JV Readies For Manufacturing Rollout
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Lubcon Lubrication India To Set Up New Unit In Kolar
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Overseas Investment
ONGC Interested In Offshore Energy Exploration In Lanka
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Gas Scene
Sector-wise Consumption of Natural Gas In December 2022
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Domestic Natural Gas Scene In December 2022
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Natural Gas Prices Plunging?
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India’s LNG Import Shrinks In Volume, Price Doubles During April-September 2022
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Sectoral Consumption Of Natural Gas
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Domestic Natural Gas Sector Presents A Dismal Picture
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Natural Gas Price Trends: Global And Domestic
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Domestic Natural Gas Scene In October 2022
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Natural Gas Price Trends: Global and Domestic
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Sectoral Consumption of Natural Gas In September
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Domestic Natural Gas Scene in September
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Sector-Wise Consumption Of Natural Gas
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Domestic Natural Gas Scene In August 2022
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MGL Remains A Remarkably Efficient CGD Company
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Natural Gas Price Trends: Global And Domestic
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
An Analysis Of the Petroleum Products Consumption Trend
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Item-Wise Petroleum Products Consumption In December 2022
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Analysis of Crude Oil Processing by Indian Refineries
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Import, Export Of Petroleum Products Down In December 2022
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India’s Crude Import In December: OPEC Share Down, Russian Share Up
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India’s Declining Crude Production, Domestic, Overseas
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Customs, Excise Duty, GST Rates In Petroleum Sector: An Update
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Weightage of crude oil, natural gas and petroleum products in Wholesale Price Index (WPI)
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Profit After Tax Of Companies In Oil & Gas Sector: An Update
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Retail Selling Prices Of Petroleum Products In India and Neighbouring Countries
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Indian Crude Basket
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Specific Energy Consumption in PSU Refineries, An Update
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Rising Share of Imported Crude In Crude Oil Processing
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Impact Of Ukraine War? GRMs Of PSU Refineries During H1 2022 Highest Since FY 2017-18
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Distillate Yield In PSU Refineries: An Update
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Analysis Of Trend In Petroleum Products Consumption During FY 2022-23
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Continued Power Deficit Promotes Diesel Sale
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Petroleum Products: Import Up, Export Down In November
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Crude Oil Import In November: Russian Share Up At 20.7%, OPEC Share Sharply Down
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Crude Oil Processing: Down In November, But Up In April-November 2022
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Impressive Growth In Petroleum Products Consumption In November
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