Tag: cng

BP keen on selling jet fuel in India: Oil Secy

British Petroleum (BP Plc), Europe’s second-largest oil company, has applied for license to retail jet fuel or ATF at airports in India, Oil Secretary Vivek Rae said today. “They (BP) are looking at marketing of aviation turbine fuel (ATF) and I think they have applied for a license,” Rae told reporters here. BP made the… Read More ›

India Ratings maintains stable outlook for oil and gas sector

India Ratings & Research said on Wednesday that it maintains a stable outlook for the country’s oil and gas sector for fiscal year 2014-15 (FY15). “The rating outlook for both public and private sector oil and gas companies remains Stable,” it said in a statement. The agency expects public sector companies to sustain strong linkages… Read More ›

India, Saudi Arabia agree to promote cooperation in oil, gas, other areas

India and Saudi Arabia have agreed to promote cooperation in the field of oil, gas and minerals through a Joint Technical Team and to encourage Saudi private sector companies  to invest in the oil and gas sector in India. At the 10th India-Saudi Arabia Joint Commission Meeting (JCM) in Riyadh on January 27-28, the two sides also agreed on… Read More ›

Maintain stable outlook on oil & gas sector: India Ratings

India Ratings & Research has maintained a stable outlook on the oil and gas sector for financial year 2015 (FY15) — for both public and private sector companies. The agency expects public sector companies to sustain strong linkages with the Government of India (GoI) or maintain business stability, in case of standalone ratings. The existing ratings of private… Read More ›

PSU oil firms like IOC, BPCL and HPCL invite EoI for ethanol at new price

NEW DELHI: State-run oil marketing companies have decided on a base price of Rs 44 per litre for procuring ethanol from sugar mills, rejecting supply of 36 crore litre citing higher price even as the government-mandated ethanol blending programme entails an open tendering process. Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation have… Read More ›

Oil majors likely to get easy entry into CNG biz

To open the compressed natural gas (CNG) network in India, the ministry of petroleum and natural gas will soon seek Cabinet approval for CNG marketing guidelines. According to an official, the move will give CNG marketing rights to companies that have investment of at least Rs 2,000 crore in the oil & gas sector. “Companies such as… Read More ›

India to review oil and gas estimates

NEW DELHI, Jan. 21 (UPI) — The Indian government announced plans to review more than a dozen basins across the country to update its estimated oil and natural gas potential. M. Veerappa Moily, India’s energy minister, set up a multilateral team to reassess the nation’s reserve potential. The Hindu, an Indian newspaper, reported the team… Read More ›

Cabinet may consider raising LPG cylinder cap this week: Oil Minister M Veerappa Moily

 With Congress vice president Rahul Gandhi pitching strongly for a higher LPG cap, Oil Minister M Veerappa Moily on Tuesday said the Cabinet is likely to consider increasing the quota of subsidised cooking gas cylinders to 12 from nine per household this week. “After our vice president Rahul Gandhi said nine cylinders are not enough,… Read More ›

India plans to map its hydrocarbon resources

New Delhi: To boost oil and gas output, the government is assessing India’s hydrocarbon resources across all the 26 sedimentary basins, covering an area of 3.14 million sq. km. The last such exercise was carried around 20 years ago in 15 sedimentary basins. The latest decision comes in the backdrop of waning interest in the Indian… Read More ›

India to seek enhanced crude oil, LPG supplies from Saudi Arabia

Apart from seeking enhanced crude oil and LPG supplies from Saudi Arabia, India will showcase major investment opportunities to the Arab Kingdom and its companies, including offering stake in IOC’s LNG project at Ennore in Tamil Nadu, Kochi Petrochemical Project of BPCL, Opal Petrochemical project at Dahej in Gujarat during the Joint Commission Meeting to… Read More ›