Policy
A Diesel Dry Out Looks Likely With Prices Going Up Sharply
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The Impact Of Rising Crude Oil Prices On Indian Economy
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India Seeks To Buy Tankers To Transport Oil And Gas
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India Leads Global Biofuels Alliance
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The Size Of LNG Supply Contract With RasGas Likely To Be Enhanced
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Regulation
Oil India Decides On An Aggressive Exploration Strategy
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Gas Migration Dispute: Govt-RIL Legal Battle Enters Possibly The Final Phase
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BPCL’s Bina Refinery Expansion Marks An Important Initiative
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Diesel Vehicles In For Higher GST? Minister Triggers Speculation
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Alternative Energy / Fuel
RIL To Make Biofuel From Algae
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New Projects
India, Mongolia Review Oil Refinery Project
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PM Modi Launches Rs 490 Billion Petrochemical Project At MP’s BPCL Bina Refinery
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Bumi Armada JV Closes $948m Project Financing For India’s Largest FPSO
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Market Watch
Torrent Gas Commences Piped Cooking Gas Supply In Patiala
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Companies
Megha Engineering And Infrastructures Ltd
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IOC To Make Additional Investment In Hindustan Urvarak And Rasayan
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DFC Approves USD 425 Million In Financing For Tata Power’s Greenfield Solar Cell Plant
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Press Release [FREE Access]
Latest Exclusives

October 2, 2023: News uploaded. No IOG exclusive as today happens to be a national holiday in India on account of Gandhi Jayanti.


September 29, 2023: Already uploaded data regarding total production and consumption of natural gas in August, 2023. Now, obtained data on sector-wise consumption in August and April- August 2023. Click Column Gas Scene for details.

September 28, 2023: India has a system of fixing targets in production areas. In terms of targets for natural gas production, the performance of Indian companies such as ONGC and Oil India was unimpressive in August 2023. Only private and JVs managed to achieve the targets. Click column Gas Scene for details.

September 25, 2023 | Can The Downstream Man Bail Out ONGC?: Oil and Natural Gas Corporation (ONGC) is India’ upstream major whose chief executive happens to be a downstream man all along. The selection committee and Prime Minister Narendra Modi must have selected Arun Kumar Singh deliberately as they feel that he is capable of reigniting ONGC into a powerhouse that it once was. Will Singh be able to deliver on the country’s expectations? Singh is right that India cannot afford to go slow in its search for fossil fuel. Should the search be in domestic sedimentary basins or elsewhere? The biggest weakness in ONGC was that personal likes and dislikes influenced appointments to senior positions when it ought to have stressed on professional competence. ONGC did not have a production expert in charge of production even during the accelerated production plan. Since then, matters have not changed much at ONGC. Exploration continues to be an area that is riddled by corruption. Click Free Access column Petro Intelligence to read an exciting piece on ONGC.
Today's News [FREE Access]
Domestic natural gas price increased to $9.20 per metric million British thermal units
October 2, 2023: The domestic natural gas price has increased to $9.20 per metric million British thermal units (mmBTu) from $8.60 at present. A petroleum ministry notification on Saturday said that the new rates will come into effect from October 1. The hike is expected to affect end-consumers,   more..


Oil companies hike jet fuel prices by 5%, commercial LPG prices by over ₹200
October 2, 2023: Prices of flight tickets may rise further as oil marketing companies (OMCs) have raised the prices of aviation turbine fuel by around 5% across the four metro cities. In the national capital, jet fuel now costs ₹1,18,199.17 per kilolitre (kl), up 5.14% from ₹1,12,419.33 last month.   more..


Gas price for Reliance cut by 18% to $10
October 2, 2023: The price of natural gas produced from difficult areas like deepsea KG-D6 block of Reliance Industries on Sunday was cut by a steep 18 per cent, in line with softening of benchmark international gas prices, an official notification said.      more..


Higher Windfall Tax On Crude Oil Kicks In As Prices Soar To $95 Barrel
October 2, 2023: The government has increased the windfall tax on domestic crude oil produced by companies such as ONGC and Oil India Ltd as prices have shot up to around $95 per barrel. The windfall tax on petroleum crude has been raised to Rs 12,100 a ton from Rs 10,000 with effect from September 30. The tax   more..


Indus Towers signs pact with IOC Phinergy for clean energy systems
October 2, 2023: Indus Towers and IOC Phinergy (IOP) have signed a pact for the deployment of 300 zero-emission energy systems to optimise diesel consumption at Indus' telecom tower sites. "Indus Towers Limited and IOC Phinergy (IOP) Private Limited have signed an agreement for the deployment of 300 zero-emission   more..


AM Naik steps down as Chairman of L&T Group
October 2, 2023: AM Naik stepped down as the chairman of L&T Group on Saturday. He handed over the reins of the USD 23 billion conglomerate to S N Subrahmanyan at an event in Mumbai. Naik, 81, will now be the Chairman of the employees trust. He will focus on increasing many philanthropic initiatives that he   more..


Renewable Energy India Expo 2023 to bring investments worth Rs 15 billion in biogas segment: IBA
October 2, 2023: Industry body Indian Biogas Association (IBA) expects around Rs 15 billion investment announcement in the biogas segment during 3-day long Renewable Energy India Expo 2023, beginning on Tuesday. The IBA comprises operators, manufacturers, and planners of biogas plants.    more..


Essar Group forays into India’s data centre landscape
October 2, 2023: Essar Group’s US-based IT solutions firm, Black Box, is planning to set up data centres in India following the rising demand for such services from its US-based clients. The company wants to take advantage of the Digital India initiative of the Indian government to increase its presence in India,   more..

Petropulse / Guest Column
Impact of Ukraine war on International LNG trade. Lessons for India
by Dr Bhamy Shenoy Bhamy ShenoyRussian-Ukraine war has brought about dramatic changes in international gas and oil sector because of the oil embargo by the west and gas more...

IOG Exclusive
Glut In US Crude Pushes Down Price : Indian Wrestling With Options.
On Friday oil prices went down by 5 per cent. WTI $67.50/barrel; Brent 76.40/barrel. This difference between WTI and Brent is confusing. Normally Brent should only be about $2 costlier at most. According to market experts, the lower WTI price has to do with a glut of production in the US and lack of more...

IOC steps into Oman with acquisition
Indian Oil Corp (IOC), the country's largest Oil Marketing Company (OMC), recently acquired global major’s Shell's stake (of 17 percent) in the Makhaizna oilfield in Oman for more...

Some good news for the Indian partners from Mozambique
The Mozambique project in which Indian firms ONGC Videsh Ltd (OVL) and Bharat Petro Resources Ltd (BPRL) have a stake has seen some positive news of late. Anadarko Petroleum’s, (the operator) plan to export LNG from Mozambique’s Rovuma Basin through its two trains moved closer to achieving the crucial Final more...

Visit of Iranian President opens a sliver of hope for Farzad-B deal?
The Indian side seems to be making one last concerted effort to revive the proposed Indian investment to develop the large Farzad-B field in Iran during the forthcoming visit of the Iranian President Hassan Rouhani to India. The field was discovered by the Indian consortium of ONGC Videsh (OVL), Oil India Ltd (OIL) and Indian more...

Indian PSUs to Aggressively Pursue EOR/IOR Projects
Faced with declining production from its ageing fields and encouraged by the scheme of incentives in the newly announced EOR (Enhanced Oil Recovery) policy, ONGC and Oil India Ltd (OIL) are preparing to enhance their investment in EOR projects. There has been no major commercial oil or gas discovery in India more...

Iran Announces Deals With Countries, No mention Of India
A senior Iranian oil official has indicated that his country was looking to sign big deals with companies from Russia, Europe, China etc- but there was no mention of India. Iran was also looking to sign large deals with Japanese, Chinese and Korean companies for upgrading some of its refineries. This development where India more...

ONGC’s Search For Producing Assets
In recent times, there has been considerable noise generated about the Government’s proposal to allow private sector firms to take equity stake in the blocks earlier given to the flagship PSU firms on a nomination basis. This was ostensibly to help increase production from these fields, as it was felt that the private more...

CERA Week sees plenty of action
There was plenty of action at the CERA Week held in New Delhi over the past few days. It was firstly in itself notable that this forum was held in India, being normally held in Houston. In fact, the Indian Petroleum and Natural Gas Minister Dharmendra Pradhan emphasized as much and also felt that going forward, the conclave more...

Hydrocarbon Re-assessment Exercise Progressing As Scheduled
The multi-organisation team comprising Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL) and Directorate General of Hydrocarbons (DGH) has been carrying out the exercise of reassessing hydrocarbon resources in the country. According to official sources, as on March 31, 2017, the team has completed more...

Special Reports
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
Vinod Paremalby Vinod Paremal | Biogas extracted from waste/bio-mass help India cut its dependency to import oil for meeting its needs. Petrol and diesel more...

Time for Introspection and redefining wealth and the basis for economic planning
Over emphasis on Gross Domestic Product (GDP) without taking into account the impact to Mother Earth’s Ecological systems (resource abuse) and consideration of equanimity for all has already shown the ill effects all around the world. And worse still is the fact that the sinner does not necessarily pay the price but more...

Views
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...

Personalities
PESB Picks Alok Sharma For IndianOil’s Director (R&D) Post
Alok SharmaAlok Sharma is set to be next Director (Research & Development) of Indian Oil Corporation Limited (IOCL). He has been recommended for the post by the Public Enterprises Selection Board Panel (PESB). more...

Castrol Appoints Priyanka Ghosh As Vice-President And Head Industrial Sales
Castrol India Limited appointed Priyanka Ghosh as vice-president and head industrial sales. She will resume her work in the new position from November 1. Since 2021, Ms. Ghosh has been leading Route to Market Transformation in Castrol India Limited. She has a track record of driving revenue growth across diverse industries, more...

Indian Petro Scene - In a Nutshell
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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Petro Intelligence [FREE Access]
Can The Downstream Man Bail Out ONGC?
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West Coast Refinery Continues To Battle A Jinx
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Vaidya’s Extension Propels IOC Foray Into LNG
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India Must Look Beyond Cheap Russian Crude
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Foreign Investment
Petromin Corporation Signs 3 Agreements With HPCL To Invest USD 700 Million
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Jindal Hunting Energy JV To Start Commercial Production By December
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Overseas Investment
Indian Oil Firms Explore Ways To Bring $600 Million Stranded In Russia
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Gas Scene
Sector-wise Natural gas consumption in August and April- August 2023
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Domestic Natural Gas Scene In August 2023
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How Drastically High LNG Prices Prune India’s Gas Import Dependency?
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Sector-wise Consumption Pattern Of Natural Gas Remains Unchanged
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Domestic Natural Gas Scene In July Presents A Confusing Picture
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The Rise & Fall Of India’s LNG Imports
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The story of the rise and fall of India’s LNG import
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LNG Regasification Capacity Up, Terminal-wise Capacity Utilization Low For Many
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India’s Growing CGD Infrastructure: An update
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LNG price determines the size of India’s gas import dependency
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Domestic Natural Gas Scene Presents A Better Picture
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Natural Gas Price Trends: Global And Domestic
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Sectoral Consumption Of Natural Gas In FY 24
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Dismal Domestic Natural Gas Scene
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Natural Gas Price Trends: Global & Domestic
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India’s LPG Industry Growth To Slow Down As Total Coverage Already Reached
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CGD Major MGL’s Growth Strategy
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Domestic Natural Gas Scene In April Presents An Unimpressive Picture
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Analysis Of Crude Oil Processed By Indian Refineries In August 2023
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How Indian Crude Basket Prices Moved In August 2023?
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GRMs Of PSU Refineries Sink During First Quarter of FY 24
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India’s Crude Oil Import Up In August, OPEC Share Down, Russia On Top
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Vibrancy In Production and Consumption of petroleum products Clearly Visible
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Imported crude & Domestic Crude In Oil Processing
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Specific energy consumption of PSU Refineries
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Product-Wise Consumption of Petroleum Products In FY 2022-23
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Break-up of Petroleum Products Consumption (PSU/JV and Private)
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Weightage of crude oil, natural gas and petroleum products in Wholesale Price Index (WPI)
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Improved Power Supply Situation Can Dampen Diesel Demand
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Indian Refineries’ Record Performance by Crude Processing
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Petroleum Products Consumption Trend Analysis
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Petroleum Sector’s Revenue Contribution To Central/State Govts
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Petroleum Products Consumption Grows At Slow Pace In July
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A New High In Company-wise Crude Processing
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Exports of Petroleum Products Up In July, Imports Down
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Tenders [FREE Access]
Cairn Oil and Gas
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