India’s oil imports surge to $10.91 bn in September

Source: The Economic Times, Oct 15, 2018

MUMBAI: India’s crude oil imports in September touched $10.91 billion, up 33.6 percent from a year ago, Indian government data showed on Monday.

Shipments of gold to India, the world’s second-biggest buyer of bullion, rose 51.5 percent last month, the data from India’s trade ministry showed.

India last week announced tariff hikes on several electronic items and communication devices, in a bid to rein in imports and bolster a weak rupee, but did not levy additional duties on gold to prevent increased smuggling of the precious metal.


Oil, gas contractors to get rights for other hydrocarbons in their areas

Source: Business Standard, May 21, 2018

New Delhi: The government is set to announce a new policy on unconventional hydrocarbon resources.

Under this, operators of blocks under the New Exploration Licensing Policy (Nelp) and pre-Nelp rounds will be able to access shale oil, shale gas, coal-bed methane (CBM) and gas hydrates from the same blocks where they are extracting conventional oil and gas.

The move is likely to benefit not only state-run exploration and production companies Oil and Natural Gas Corporation (ONGC) and Oil India but also private majors Cairn India (now part of Vedanta) and Reliance Industries (RIL).

A new Hydrocarbon Exploration and Licensing Policy (Help) was cleared by the Union Cabinet in March 2016. It allows for a uniform licence to explore and produce all forms of hydrocarbons. According to multiple sources, the government is working on a Cabinet note in this regard. Read the rest of this entry »

What does Saudi Aramco’s $44 billion deal mean for oil companies in India

Source: Financial Express, Apr 12, 2018

In a major boost to the economic reforms launched by Narendra Modi government, world’s largest oil producer, Saudi Aramco, signed a memorandum of understanding (MoU) with Indian oil companies to be a part of $44 billion investment in West Coast refinery and petrochemical project called Ratnagiri Refinery and Petrochemicals. It is one of the largest investments made by any foreign oil producer in India. The agreement is being facilitated by three state-run oil marketing companies — Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat Petroleum Corporation. The investment made by the world’s largest producer of oil may help oil companies in increasing their margins.

download (4)

Read the rest of this entry »

Essar to set up 4 small & medium LNG terminals

download (8).jpgSource: The Economic Times, Sept 25, 2017

HYDERABAD: Essar Ports is looking to set up a cluster of small and medium sized terminals for handling liquefied natural gas on India’s west and east coasts to capitalise on the growing demand for the cleaner fuel. The company, part of the Essar Group, which has interests in ports and shipping, has identified land on both the coasts and plans to come up with two terminals in the first phase and two in second phase, with capacities ranging from 2.5 million tonnes per annum (mtpa) to 5 mtpa.

Read the rest of this entry »

ONGC plans $11 billion investment to boost gas production by 30%

images.pngSource:, Apr 24, 2017

Mumbai: After more than a decade of nearly static output, state-run Oil and Natural Gas Corp. (ONGC) expects to increase gas production by nearly 30% over the next three-four years with an investment of around $11 billion, according to two senior company officials with knowledge of the matter.

The officials said ONGC will put its blocks in the Krishna Godavari basin (KG-DWN-98/2) and Ratna and R-Series oilfields in Mumbai offshore into production by 2019. The coal bed methane (CBM) blocks in Jharkhand will begin production by 2020, while the Daman offshore fields, which have been pressed into production this month, will be ramped up next year.

Read the rest of this entry »

UAE to invite Indian cos for upstream oil and gas investments in Abu Dhabi

Source: The Economic Times, Jan 27, 2017

NEW DELHI: Opec member United Arab Emirates will invite Indian firms for upstream oil and gas ainvestments, giving the energy-deficient country a rare chance to be involved in the hydrocarbon sector of the oil-rich region that accounts for most of its energy imports.

Abu Dhabi National Oil Co (Adnoc) chief executive Sultan Ahmed Al Jaber said the strategic partnership with India had taken a significant step with the deal to store crude oil in India’s strategic reserves, and a lot more was in the offing, including his company’s investment in new and existing refineries and petrochemical plants. Read the rest of this entry »

Indian Oil to lay India’s longest LPG pipeline

Source: The Economic Times, Oct. 12, 2016

NEW DELHI: State-owned Indian Oil Corp (IOC) plans to lay the nation’s longest LPG pipeline from Gujarat coast to Gorakhpur in eastern Uttar Pradesh to cater to growing demand for cooking gas in the country.

IOC plans to import LPG at Kandla in Gujarat and move it through the 1,987 kilometer pipeline to Gorakhpur via Ahmedabad (in Gujarat), Ujjain, Bhopal (in Madhya Pradesh), Kanpur, Allahabad, Varanasi and Lucknow (in Uttar Pradesh). Read the rest of this entry »