Tag: IOC

Oil and gas retailing: Changes to pivot around individual consumer

While both policies pivot around giving a new deal to individuals & households, they change the way they look at this set of consumers: from buyers of products at subsidised prices to buyers of products at marketlinked prices.  In two policy changes, one that is currently unravelling and another that is done, resides a promise… Read More ›

Oil India: Optimism on gas prices, subsidies

These larger benefits, added to other favourable factors, outweigh near-term concerns, causing analysts to be bullish on the stock Oil India Ltd (OIL), the upstream major in the sector, has seen its stock under pressure for quite a while, with concerns on production volumes, uncertainty over subsidy burden and, recently, the government’s plan of selling its stake in… Read More ›

Government may ask all refineries to produce fixed level of LPG to ensure uninterrupted supply

Govt is likely to order oil refineries, including private sector Reliance Industries and Essar Oil, to maintain a minimum level of LPG production.  NEW DELHI: Government is likely to order oil refineries, including private sector Reliance IndustriesBSE 3.56 % and Essar OilBSE 0.97 %, to maintain a minimum level of LPG production to ensure uninterrupted supply of… Read More ›

Oil rises by $3, Energy cos face Rs 27,000 crore burden

For Indian oil companies, which depend heavily on imports, high oil prices can be a crippling burden at a time when the government is reluctant to raise fuel prices.  NEW DELHI: Oil prices jumped $3 a barrel, putting an annualised burden of Rs 27,000 crore on Indian energy firms, because of escalating hostility between Russia,… Read More ›

Oil PSUs to promote renewable energy

Ministry of New & Renewable Energy (MNRE) and Ministry of Petroleum & Natural Gas (MoP&NG) have signed a Memorandum of Understanding to enhance energy security along with clean energy development through investments in Solar, Wind and other renewable energy projects. Two Special Purpose Vehicles (SPVs) are proposed to be set up for promoting the deployment of technologies… Read More ›

Renewable Energy Certificate trading volumes doubled in February: Indian Energy Exchange

NEW DELHI: The traded volume of renewable energy certificates more than doubled this month on the Indian Energy Exchange (IEX). Prices of these certificates both in solar and non-solar segments, however, remained flat on a month-on-month basis. The total traded volume of RECs, during yesterday’s session, touched 1,83,923. In January, the same was at 84,472. One Renewable Energy Certificate… Read More ›

Iran seeks over $1 billion dues from India for crude oil supply

NEW DELHI: Iran has sought over $one billion from India due for supply of crude oil in the wake of partial lifting of sanctions against the Persian Gulf country. Iranian officials said the issue is likely to be discussed during talks between Iranian Foreign Minister Mohammad Javad Zarif and External Affairs Minister Salman Khurshid here tomorrow. They… Read More ›

UPA’s hydrocarbons policy may get quiet burial

The UPA government’s hydrocarbons policy announced with fanfare last month is unlikely to see the light of the day as not much work has progressed on it due to approaching elections, non-consensus over revenue models and changes of key personnel. On January 5, the Union petroleum minister, M Veerappa Moily, had said that the government… Read More ›

Bangladesh inks exploration deals with Oil India, ONGC

DHAKA: Inviting Indian companies for the first time to explore hydrocarbon in its territory, Bangladesh today awarded state-run Oil India Ltd (OIL) and ONGC two offshore blocks in Bay of Bengal. Bangladesh’s state-owned Petrobangla inked two production sharing contracts (PSCs) with the ONGC and OIL for two shallow water blocks called SS-04 and SS-09 at… Read More ›

Demystifying India’s gas pricing policy

Before 1987, ONGC and Oil India Ltd fixed gas prices. But from January-end 1987 the government began regulating prices on a cost-plus basis. The last revision under this so-called administered price mechanism was effective July 2005. When the government began bidding out oil and gas blocks under the New Exploration and Licensing Policy (NELP), it… Read More ›