Crude Oil Import Dependency Rises To 87.5%, Heading To 90% more...
Election Approaches: Crude Price Crosses $90/Barrel, Marketing Companies To Absorb Losses more...
India’s Ranking As LNG Importer To Go Up As LNG Prices Remain Low more...
Guyana Emerges As An Oil Supplier, India Negotiates Purchase Deal more...
India Government Pushes Small Scale LNG Units more...
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ONGC’s FY’24 milestone: Drills 541 Wells, Reports No Oil Discovery more...
Govt Reduces Gas Price For Reliance Industries Ltd more...
India Initiates Construction Of First Commercial Crude Oil Strategic Storage more...
9 Million Tonne Cauvery Basin Refinery: Cost Goes Up, IOC Raises Its Stake In JV Refinery To 75% more...
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India’s Impressive Record In Installing Non-Fossil Fuel Capacity more...
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Adani Total Gas commences production at Barsana Biogas Project more...
Chhara LNG Terminal Set To Receive First Tanker more...
Oil India Plans To Start Numaligarh Refinery By Dec 2025 more...
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Gadkari To Get Rid Of Petrol And Diesel Vehicles? more...
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Seros Energy more...
Shear Water Commences Survey Project more...
OIL, GMC Signs MoU For Waste To CBG Plant more...
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April 23, 2024: India’s import dependency for crude oil has been rising over the years despite domestic exploration efforts. In the absence of commercial discoveries, the domestic share in petroleum products consumed has touched a new low in the just ended FY 24. Click column Special Database for details.
April 22, 2024: Impressive Growth In Petroleum Products Consumption in FY 24. Click Special Database for details.
April 19, 2024: India’s petroleum sector is hugely dominated by state-owned companies popularly called Public Sector Undertakings (PSUs). In the recently ended financial year 2023-24, PSU oil companies exceeded the targets for capital expenditure by a big margin. Click column Special Database for company-wise details.
April 10, 2024: The US has now emerged as the biggest exporter of liquefied natural gas (LNG) and the largest producer of crude oil, producing 21 per cent of the world’s oil. Will India benefit from the sudden US dominance in crude and LNG? India is already sourcing both crude and LNG from the US but in limited quantities. US crude falls in the category of West Texas Intermediate (WTI) which has a sulphur content of 0.24%, making it very "sweet." Judging by the types of crude being used in India, high sulphur/low sulphur crude ratio is 78% HS / 22% LS. India’s low sulphur crude imports account for only 23 million tons – or less than 10 per cent of import. The US crudes will have to fit into that tiny sliver of 10 per cent. Click Free Access column Petro Intelligence to read a comprehensive piece on the subject.
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RIL Q4 results: Profit falls 1.8% to Rs 189.51 billion; Rs 10 dividend announced
April 23, 2024: The Mukesh Ambani-led Reliance Industries Ltd (RIL) on Monday reported 1.80 per cent year-on-year (YoY) fall in consolidated net profit (attributable to owners of the company) at Rs 189.51 billion for the March quarter compared with Rs 192.99 billion in the same quarter last year. Analysts were expecting the more..
HPCL plans to establish international oil trading desk
April 23, 2024: HPCL is planning to establish an international oil trading desk, reported the Economic Times, citing a company official. The move is part of the company’s plans to secure the best prices and quality of crude oil in real time, potentially reducing import costs.
Currently, the state-owned more..
ONGC Faces Setback as Halliburton Delays Well Stimulation
April 23, 2024: ONGC finds itself in a challenging situation as Halliburton, a key service provider, delays the deployment of well stimulation vessels. This setback hampers ONGC's oil and gas exploration activities, highlighting the critical nature of timely service delivery in the energy sector.
The delay more..
GSPL shares hit 20% lower circuit as PNGRB cuts tariffs for key pipeline network
April 23, 2024: Shares of Gujarat State Petronet Ltd (GSPL) hit a lower circuit of 20 per cent during the early trading session on Monday after the company saw a series of downgrades by brokerage firms after new tariff order led to a sharp earnings cut.
Petroleum and Natural Gas Regulatory Board (PNGRB) came more..
Fertilisers, Power & Piped Gas Distribution Push India’s LNG Imports By 17.5% In FY24
April 23, 2024: India’s import of LNG surged by 17.5 per cent in the yearb2023-24 to reach 30,917 million standard cubic meters (mmscm), driven by increased consumption across sectors such as fertilisers, power, and city gas distribution, according to data from the Petroleum Planning and Analysis Cell (PPAC).
more..
Oman LNG Inks supply deal with TotalEnergies
April 23, 2024: Oman LNG has signed a purchase agreement (SPA) with its shareholder TotalEnergies to supply 800,000 tonnes per annum (tpa) of LNG, starting from 2025.
TotalEnergies, which holds a 5.54% stake in Oman LNG, will receive LNG for a decade.
The project, operated by the Marsa more..
Indian refiners may need a rethink amid shrinking Russian crude discounts
April 23, 2024: India’s appetite may be waning for crude oil from Russia, the country’s biggest source, with discounts shrinking by 77 per cent from a record high in early 2023, and by 61 per cent from the months after the invasion of Ukraine in February, suggests exclusive data accessed by Business Standard. But more..
After LPG Cylinders, Piped Gas to Reach Every Household; Target Set for 125 million Connections by 2030
April 23, 2024: The central government launched the PM Ujjwala Yojana in 2016 for clean cooking fuel. The aim was to ensure gas connections in rural and deprived households, but it is now time to supply piped gas in every household.
The Ujjwala scheme has reached 102.7 million beneficiaries. Now, piped gas more..
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Impact of Ukraine war on International LNG trade. Lessons for India
by Dr Bhamy Shenoy
Russian-Ukraine war has brought about
dramatic changes in international gas and oil sector because of the oil embargo
by the west and gas more...
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Double Trouble
By R. Sasankan
If you ignore history, you are condemned to repeat it.
The stark truth of this aphorism came back to me the other day when I
read a Reuters report that said Indian Oil Corporation was aiming to
double the capacity of its liquefied natural gas more...
Cheap Crude Does Not Benefit PSU Refineries
By R. Sasankan
Parliamentarians in India have a heart-warming desire to
shape public policy; the trouble is that in their eagerness to do something -
anything - they can allow the nobility of their intention to smother the
practicality of their proposed interventions. In their zeal more...
Single Agency Needed To Acquire Overseas Energy Assets
By R. Sasankan
India is a country of many paradoxes – and it is this quality that makes
it hard for policy makers to find the right palliative for its myriad
problems. The country is one of the fastest growing economies in the
world and hopes to become a $ 5 trillion more...
Tackling Blowback From Sanctions
By R. Sasankan
India and the US have developed close ties over the past few years as
they perceive China to be a common enemy whose reach and influence must
be circumscribed. On its own, India cannot counter China’s growing
ambitions in the Asia-Pacific region. Likewise, more...
Gas Ratio Target: Time For A Revision?
By R. Sasankan
When Prime Minister Narendra Modi announced his ambitious objective to
raise the contribution of natural gas in India’s energy mix to 15 per
cent by 2030, the experts in the petroleum industry were left astounded
by the boldness of the claim.
more...
West Coast Refinery Continues To Battle A Jinx
By R. Sasankan
Industrial projects in India can never seem to skirt controversy and
invariably go through a prolonged period of uncertainty as promoters
fret over the roadblocks they face. The intensity of the controversy is
directly proportional to the size of the more...
Can The Downstream Man Bail Out ONGC?
By R. Sasankan
“New Delhi: Under-investment in the Oil & Gas sector could hamper
India's progress, Arun Kumar Singh, Chairman and CEO of state-owned Oil
and Natural Gas Corp (ONGC), has warned. National Oil Companies around
the world are facing increasing pressure more...
Oil PSUs In Trouble Again
By R. Sasankan
International price of crude oil has risen by 30% in the third quarter
of 2023. Global crude oil inventories are at seasonal lows and
production cuts, announced transparently by OPEC+ till the end of
December 2023 amount to about 3.3 million barrels a more...
Gas Ratio Target: Time For A Revision?
By R. Sasankan
When Prime Minister Narendra Modi announced his ambitious objective to
raise the contribution of natural gas in India’s energy mix to 15 per
cent by 2030, the experts in the petroleum industry were left astounded
by the boldness of the claim.
more...
Tackling Blowback From Sanctions
By R. Sasankan
India and the US have developed close ties over the past few years as
they perceive China to be a common enemy whose reach and influence must
be circumscribed. On its own, India cannot counter China’s growing
ambitions in the Asia-Pacific region. Likewise, more...
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Qatar pauses Red Sea LNG traffic: ICIS analyst view January 18, 2024: Click HERE to read article by Alex Froley, LNG Market Analyst at ICIS, examines the possible effects of ongoing disruptions in the Red Sea on global LNG trade.
more...
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
by Vinod Paremal | Biogas extracted from waste/bio-mass help India cut its dependency to import oil for meeting its needs.
Petrol and diesel more...
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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...
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Nayara Energy Appoints Alessandro Des Dorides As Chief Executive Officer
Nayara Energy has named Alessandro Des Dorides, the former head of oil trading at Eni, as the new CEO of the company. Des Dorides shall take over from Alois Virag whose term ended on March 31, 2024. Des Dorides' is a seasoned oil and gas professional with over 24 years of experience in the energy industry. He possesses a more...
EET Retail Appoints Narayan Bhatra As CEO
EET Retail, the retail division of EET Fuels, has announced the appointment of Narayan Bhatra as its Chief Executive Officer. Bhatra was previously the Chief Retail Officer at Nayara Energy. He has more...
Lubrizol Names Nitin Mengi As Vice President
Lubrizol has appointed Nitin Mengi as Vice President, Lubrizol Additives, IMEA, and Chairman & Managing Director, Lubrizol India Pvt Ltd. Nitin’s extensive experience in the gas and oil industry more...
BPCL Appoints Wadhwa As CGM Gas
Akshay Wadhwa will be taking over as Chief General Manager (Gas) in BPCL and will be heading the Gas Business w.e.f 1st April, 2024. Akshay Wadhwa is a B.E. (Industrial Production), and an MBA in Marketing from NMIMS. He has held various positions in LPG, Retail, New Business Initiatives, Lubes, and Marketing Coordination. more...
HPCL Board Revises Management Team Members
Umesh Chandra Agrawal has been appointed as the Executive Director of Finance, Rajasthan Refinery Project. He holds a B.COM and MBA degree from Finance, ACS, FCA. SH Mehdi has been appointed as the Executive Director-HR. He holds a degree in LLB, a Post Graduate Diploma in MGMT, and an M.Com. Dinesh N Naik is the Executive more...
PESB Advertises For ONGC Director
The public-sector head-hunter (PESB) has advertised the post of Director (Technology & Field Services) in Oil & Natural Gas Corporation Limited (ONGC); the post will fall vacant on January 01, 2025. PESB has sought applications from experienced candidates fulfilling the prescribed eligibility for the post by May 02, more...
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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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Sweet Factor Blunts Appeal Of US Crudes more...
Greatest Uncertainty Faced By The International Oil Industry more...
Calling The Bluff On India Busting Russian Sanctions more...
MRPL: Asserting Its Bragging Rights more...
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Panasonic To Form JV With IOC To Make Cylindrical Lithium-Ion Batteries more...
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ONGC Gets $32 Million Payment From Venezuela’s PDVSA more...
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Domestic Natural Gas Scene in FY 2023-24 more...
Sectoral Consumption of Natural Gas (Qty in MMSCM) in February 2024 more...
Domestic Natural Gas Scene Presents A Bright Picture In February 2024 more...
Sector-wise Consumption Of Natural Gas more...
Higher LNG Imports Elevate Natural Gas Consumption Level in January 2024 more...
Near Total LPG Penetration Achieved more...
India’s Fluctuating Gas Import Dependency more...
Gas Transportation Major GAIL’s Physical Performance more...
Growing CGD Sales In India more...
Domestic Natural Gas Scene In December: Targets Elude, Production, Consumption More more...
India’s LNG Import: Import Quantity Shrinks As Prices Go Up more...
India’s LNG Import Picks Up As Market Prices Fall more...
Sectoral Consumption Of Natural Gas more...
Production Targets Confuse Domestic Natural Gas Scene In November more...
Shale Gas & Oil Eluding India more...
Domestic Natural Gas Scene in October 2023 more...
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Shrinking Domestic Share In Petroleum Products Consumed more...
Impressive Growth In Petroleum Products Consumption in FY 24 more...
Actual Capital expenditure of PSU oil companies In FY 2023-24 more...
India’s Crude Oil Import Marginally Down In FY 2023-24? more...
How Does BPCL’s Marketing Operations And Efficiencies Compare With Other OMCs’? more...
OVL’s global footprints, operations and contribution more...
Indian Crude Basket Price In March 2024 more...
HPCL’s Expansion In Refining And Marketing Infrastructure more...
IOC’s Huge Expansion Projects more...
Power Shortage Continues In Many Regions, Promotes Diesel Sales more...
Analysis Of Petroleum Products Consumption Trend During FY 2023-24 more...
BPCL’s Widening Global Upstream Footprints more...
Impressive Auto Sector Growth Pushes Up Petrol Consumption In February 2024 more...
Petroleum Products Consumption Grows 5.7 % In February 2024 more...
Import and Export of petroleum products more...
Analysis Of Type Of Crude Oil Processed By Refineries During April-February 2023-2024 more...
Crude Import Down In February, Russian Crude Share In Cumulative Import Still Strong more...
Sharp Reduction In GRMs Of Indian Refineries more...
Oil Marketing Company BPCL’s Refineries Performing Remarkably Well more...
Oil India’s 3 Major Overseas Projects more...
BPCL Finalises Strategic Aspirations For The Next Five Years more...
Refining Margins In Global Hubs Show Mixed Trends more...
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