The largest such refiner -- Indian Oil Corporation -- has earmarked over Rs 13,500 crore (Rs 135 billion) to meet these specifications (essentially lower sulphur and aromatic hydrocarbons) in petrol and diesel at its seven refineries.
Hundreds of Jokatte villagers adjacent to MRPL refinery near Mangalore have complained of air, noise, water pollution from plant.
Growth of eight key infrastructure sectors slowed down to 8.2 per cent in June 2023 compared to the year-ago month due to a decline in the production of crude oil, according to the official data released on Monday.
The bench also rejected the submission of senior advocate Mukul Rohatgi, appearing for Essar Oil Ltd, that the hearing be adjourned for four weeks.
RIL is keen on buying Cairn India's Rajasthan crude oil but said it cannot take the oil unless the pipeline from fields to Gujarat coast is built.
Analysts are enthused by BPCL's upstream foray and have re-rated the stock in the past couple of years.
Chennai Petroleum Corporation Ltd set up a crude oil jetty in Nagapattinam at Rs 960 million to meet requirements of Cauvery Basin Refinery.
CPCL, in which Indian Oil holds 51 per cent stake, runs a 9.5-million tonnes per annum refinery at Manali in Chennai.
From February to mid-March, oil prices receded rapidly.
Pakistan was ready to buy petroleum products from India if these were offered at "right prices", the country's minister of Petroleum and Natural Resources Asim Hussain said.
Industry experts, analysts say the proposal is 'impractical'. The country's oil refining companies are hopeful that the Organisation of Petroleum Exporting Countries will implement a price band for crude oil which they say will bring more certainty to their operations.
Struggling to meet budget targets, the government had in the just concluded fiscal asked cash-rich PSUs to pay second interim dividend as well as undertake share buyback.
According to data shared with the Lok Sabha, 19 road projects awarded after May 2014 were facing delays
Reliance Industries earned a breather when PSU oil firms revised their requirement of diesel from it to 3.7 million tonnes in 2004-05.
Billionaire Mukesh Ambani's Reliance Industries on Friday reported a 43 per cent jump in its September quarter net profit as its businesses from oil to retail fired on all cylinders, growing both sequentially and on a year-on-year basis. Net profit of Rs 13,680 crore, or Rs 20.88 per share, in July-September compared with Rs 9,567 crore, or Rs 14.84 a share, in the same period a year back, the company said in a statement. While better realisation and a sharp rise in crude oil prices benefited the old-economy business, retail saw footfalls at stores reach pre-Covid levels and per user earning from telecom business rose.
State-run Hindustan Petroleum Corporation is eyeing oil blocks in African countries, its Chairman and Managing Director, Subir Roy Choudhari said on Friday.
What are the implications of the new players coming into the retail segment on existing companies like BPCL, HPCL and IOC? \n\n\n\n
Whatever be India's course of action, it will have an impact on India-Iran ties, notes Aveek Sen.
PSUs are asking for tax holiday for oil exploration and production activities to continue. The latest Budget imposes a Sunset clause for 100 per cent tax exemption for refining of mineral oil.
Nearly 55,000 officers of 14 public sector oil companies have decided to strike work indefinitely from January 7 to seek higher wages, Association of Scientific & Technical Officer's vice president P K Sharma said in New Delhi on Tuesday
A plunge in fuel demand after the raging pandemic forced people to stay home and stifled the economy dealt a body blow to the firm's traditional cash cow oil refining and petrochemicals, even as consumer-facing businesses, which account for 35 per cent of the oil-to-telecom-to-retail conglomerate's revenues, continued to do well.
The transaction will lead to an open offer for minority holders.
With a view to avoid recurrence of last week's militant attacks at Digboi refinery and a gas pipeline in Assam, the government will tighten security at all key oil installations, Petroleum Minister Ram Naik
'They were planning collection of arms dropped by drones and supply to active terrorists of Jaish-e-Mohammed in Kashmir valley; planting a vehicle-based IED in Jammu before 15th August and reconnaissance of important targets in other parts of the country'
RIL has sent a draft GSPA to Essar Oil and the contract may be inked within the next few days.
After Reliance Industries Ltd and its partner bp plc of the UK, Nayara Energy - the nation's largest private fuel retailer - has started selling petrol and diesel at Re 1 less than the fuel sold by state-owned retailers, officials said. While state-owned Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) continue to hold prices despite a drop in international rates, private fuel retailers have started passing on the benefit to consumers. "To further stimulate domestic consumption and cater to local customers better, we have introduced a Re 1 discount in our retail outlets until the end of June 2023," a spokesperson for Nayara Energy said.
India's crude oil production rose by 3.2 per cent in May on back of better performance by state- owned oil major Oil and Natural Gas Corp (ONGC), while refinery output remained unchanged.
Winner will construct 300,000 barrels per day refinery.
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
Petroleum Secretary M S Srinivasan observed that smaller and more nimble companies are proving formidable and ONGC would have to register exploration successes and strengthen its systems to retain its position in the industry.
The output of eight core sectors grew by 11.6 per cent in August, mainly due to an uptick in the production of cement, coal, and natural gas, official data showed on Thursday. The eight infrastructure sectors of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity had contracted by 6.9 per cent in August 2020 due to the nationwide lockdown imposed to control the spread of COVID-19. The eight core industries comprise 40.27 per cent of the weight of items included in the Index of Industrial Production (IIP).
Oil prices have declined by more than 60 per cent since January with benchmark crude falling well below $30 per barrel, driven by an acute oil demand decline caused by the coronavirus and a lack of production cuts by OPEC and other oil producing countries.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
Afraid of US sanctions, State Bank declines payment facilitation for oil imports from Iran.
Minister of state for petroleum and natural gas Jitin Prasada in a written reply to a question in the Lok Sabha said that IOC and MRPL have been allocated 0.20 million tonnes each in 2009-10, while HPCL would offtake 0.30 million tonnes of Rajasthan crude. In 2010-11, IOC would buy 1.5 million tonnes of the crude oil from the nation's most prolific oil discovery in more than two decades, while MRPL would double its offtake to 0.40 million tonnes.
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