Policy
Crude Oil Import Dependency Rises To 87.5%, Heading To 90%
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Election Approaches: Crude Price Crosses $90/Barrel, Marketing Companies To Absorb Losses
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India’s Ranking As LNG Importer To Go Up As LNG Prices Remain Low
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Guyana Emerges As An Oil Supplier, India Negotiates Purchase Deal
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India Government Pushes Small Scale LNG Units
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Regulation
ONGC’s FY’24 milestone: Drills 541 Wells, Reports No Oil Discovery
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Govt Reduces Gas Price For Reliance Industries Ltd
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India Initiates Construction Of First Commercial Crude Oil Strategic Storage
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9 Million Tonne Cauvery Basin Refinery: Cost Goes Up, IOC Raises Its Stake In JV Refinery To 75%
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Alternative Energy / Fuel
India’s Impressive Record In Installing Non-Fossil Fuel Capacity
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New Projects
Adani Total Gas commences production at Barsana Biogas Project
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Chhara LNG Terminal Set To Receive First Tanker
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Oil India Plans To Start Numaligarh Refinery By Dec 2025
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Market Watch
Gadkari To Get Rid Of Petrol And Diesel Vehicles?
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Companies
Seros Energy
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Shear Water Commences Survey Project
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OIL, GMC Signs MoU For Waste To CBG Plant
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Press Release [FREE Access]
Latest Exclusives

April 12, 2024: Natural gas consumption is controlled by the government through its policy of allocating the quantum of gas for each sector in the economy. India imports more than half of the domestic demand for natural gas through import of LNG which is then re-gasified (RLNG). Click column Gas Scene for Sector-wise Consumption of Natural Gas in February 2024.


April 11, 2024: The Indian basket of crude oil represents a derived basket comprising sour grade (Oman & Dubai average) and sweet grade (Brent dated) of crude oil processed in Indian refineries in a ratio of 75.62:24.38. Click column Special Database for daily price movements in Indian Crude Basket in the month of March 2024.

April 10, 2024: The US has now emerged as the biggest exporter of liquefied natural gas (LNG) and the largest producer of crude oil, producing 21 per cent of the world’s oil. Will India benefit from the sudden US dominance in crude and LNG? India is already sourcing both crude and LNG from the US but in limited quantities. US crude falls in the category of West Texas Intermediate (WTI) which has a sulphur content of 0.24%, making it very "sweet." Judging by the types of crude being used in India, high sulphur/low sulphur crude ratio is 78% HS / 22% LS. India’s low sulphur crude imports account for only 23 million tons – or less than 10 per cent of import. The US crudes will have to fit into that tiny sliver of 10 per cent. Click Free Access column Petro Intelligence to read a comprehensive piece on the subject.
Today's News [FREE Access]
Diesel the culprit of India’s oil demand growth in 2024: OPEC
April 13, 2024: India is expected to see healthy oil demand growth of 228 thousand barrels per day (tb/d) year-on-year in 2024, as per the latest monthly outlook report by the Organisation of Petroleum Exporting Countries (OPEC). Diesel is projected to be the main driver behind oil demand growth, supported mostly by   more..


Lubrizol’s growth continues with new GCC in Pune
April 13, 2024: Specialty chemicals firm Lubrizol Corporation has launched a new global capability centre (GCC) in Pune, Maharashtra, as part of its growth strategy. The centre will serve as a strategic hub, allowing the company to tap into local talent for regional and global success across the industries it serves.   more..


Panasonic, Indian Oil to storm Indian EV market with battery joint venture
April 13, 2024: Panasonic making inroads into the automotive battery market. The reports coincide with the Indian government's decision to aggressively promote Electric Vehicles (EVs). The news has prompted related manufacturers to seek potential partners. On April 1, Panasonic announced it was in   more..


Pratham EPC bags Rs 4.97 bn -order
April 13, 2024: Shares of Pratham EPC Projects Limited zoomed 20 percent and were locked in the upper circuit after the company bagged a Rs 4.97 billion order, which is more than double its market capitalisation of Rs 2.41 billion. "We are glad to inform that the company has been successfully awarded work   more..


OCL Final Dividend Announcement Expected at April 30 Board Meeting
April 13, 2024: India's major state-owned oil and gas company headquartered in New Delhi, Indian Oil Corporation Limited (IOCL) informed that the Board Meeting of the Company is scheduled on Tuesday, 30 April 2024, inter alia, to consider and approve Standalone as well as Consolidated Audited Financial Results of the   more..


Idle Gas-Based Power Plants Gear Up To Meet Higher Demand
April 13, 2024: Gas-based power generators have started test runs at their idle plants, following reports that the government may bring them under Section 11 of the Electricity Act, 2003, mandating their operations to meet the peak power demand. There are close to 20,000 MW gas-based power plants that are lying idle, since   more..


EU Parliament approves legal option to block Russian LNG imports
April 13, 2024: The European Parliament voted on Thursday to pass rules allowing European governments to ban Russian liquefied natural gas (LNG) imports, by preventing Russian firms from booking gas infrastructure capacity. The European Union has avoided imposing sanctions on Russian gas, which some members   more..


Numaligarh Refinery Achieves Remarkable Achievement
April 13, 2024: Numaligargh Refinery Limited witnessed a remarkable achievement after successfully completing the longest HDD (Horizontal Directional Drilling) globally ever as on date for a 26-inch diameter Crude Oil Pipeline with a span of 4 km long crossing in the GANGA river using an intersection technique on 11th   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
Double Trouble
By R. Sasankan If you ignore history, you are condemned to repeat it. The stark truth of this aphorism came back to me the other day when I read a Reuters report that said Indian Oil Corporation was aiming to double the capacity of its liquefied natural gas more...

Cheap Crude Does Not Benefit PSU Refineries
By R. Sasankan Parliamentarians in India have a heart-warming desire to shape public policy; the trouble is that in their eagerness to do something - anything - they can allow the nobility of their intention to smother the practicality of their proposed interventions. In their zeal more...

Single Agency Needed To Acquire Overseas Energy Assets
By R. Sasankan India is a country of many paradoxes – and it is this quality that makes it hard for policy makers to find the right palliative for its myriad problems. The country is one of the fastest growing economies in the world and hopes to become a $ 5 trillion more...

Tackling Blowback From Sanctions
By R. Sasankan India and the US have developed close ties over the past few years as they perceive China to be a common enemy whose reach and influence must be circumscribed. On its own, India cannot counter China’s growing ambitions in the Asia-Pacific region. Likewise, more...

Gas Ratio Target: Time For A Revision?
By R. Sasankan When Prime Minister Narendra Modi announced his ambitious objective to raise the contribution of natural gas in India’s energy mix to 15 per cent by 2030, the experts in the petroleum industry were left astounded by the boldness of the claim. more...

West Coast Refinery Continues To Battle A Jinx
By R. Sasankan Industrial projects in India can never seem to skirt controversy and invariably go through a prolonged period of uncertainty as promoters fret over the roadblocks they face. The intensity of the controversy is directly proportional to the size of the more...

Can The Downstream Man Bail Out ONGC?
By R. Sasankan “New Delhi: Under-investment in the Oil & Gas sector could hamper India's progress, Arun Kumar Singh, Chairman and CEO of state-owned Oil and Natural Gas Corp (ONGC), has warned. National Oil Companies around the world are facing increasing pressure more...

Oil PSUs In Trouble Again
By R. Sasankan International price of crude oil has risen by 30% in the third quarter of 2023. Global crude oil inventories are at seasonal lows and production cuts, announced transparently by OPEC+ till the end of December 2023 amount to about 3.3 million barrels a more...

Gas Ratio Target: Time For A Revision?
By R. Sasankan When Prime Minister Narendra Modi announced his ambitious objective to raise the contribution of natural gas in India’s energy mix to 15 per cent by 2030, the experts in the petroleum industry were left astounded by the boldness of the claim. more...

Tackling Blowback From Sanctions
By R. Sasankan India and the US have developed close ties over the past few years as they perceive China to be a common enemy whose reach and influence must be circumscribed. On its own, India cannot counter China’s growing ambitions in the Asia-Pacific region. Likewise, more...

Special Reports
Qatar pauses Red Sea LNG traffic: ICIS analyst view
January 18, 2024: Click HERE to read article by Alex Froley, LNG Market Analyst at ICIS, examines the possible effects of ongoing disruptions in the Red Sea on global LNG trade. more...

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...

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
Nayara Energy Appoints Alessandro Des Dorides As Chief Executive Officer
Nayara Energy has named Alessandro Des Dorides, the former head of oil trading at Eni, as the new CEO of the company. Des Dorides shall take over from Alois Virag whose term ended on March 31, 2024. Des Dorides' is a seasoned oil and gas professional with over 24 years of experience in the energy industry. He possesses a more...

EET Retail Appoints Narayan Bhatra As CEO
Naryan BhatraEET Retail, the retail division of EET Fuels, has announced the appointment of Narayan Bhatra as its Chief Executive Officer. Bhatra was previously the Chief Retail Officer at Nayara Energy. He has more...

Lubrizol Names Nitin Mengi As Vice President
Nitin MengiLubrizol has appointed Nitin Mengi as Vice President, Lubrizol Additives, IMEA, and Chairman & Managing Director, Lubrizol India Pvt Ltd. Nitin’s extensive experience in the gas and oil industry more...

BPCL Appoints Wadhwa As CGM Gas
Akshay Wadhwa will be taking over as Chief General Manager (Gas) in BPCL and will be heading the Gas Business w.e.f 1st April, 2024. Akshay Wadhwa is a B.E. (Industrial Production), and an MBA in Marketing from NMIMS. He has held various positions in LPG, Retail, New Business Initiatives, Lubes, and Marketing Coordination. more...

HPCL Board Revises Management Team Members
Umesh Chandra Agrawal has been appointed as the Executive Director of Finance, Rajasthan Refinery Project. He holds a B.COM and MBA degree from Finance, ACS, FCA. SH Mehdi has been appointed as the Executive Director-HR. He holds a degree in LLB, a Post Graduate Diploma in MGMT, and an M.Com. Dinesh N Naik is the Executive more...

PESB Advertises For ONGC Director
The public-sector head-hunter (PESB) has advertised the post of Director (Technology & Field Services) in Oil & Natural Gas Corporation Limited (ONGC); the post will fall vacant on January 01, 2025. PESB has sought applications from experienced candidates fulfilling the prescribed eligibility for the post by May 02, 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]
Sweet Factor Blunts Appeal Of US Crudes
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Greatest Uncertainty Faced By The International Oil Industry
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Calling The Bluff On India Busting Russian Sanctions
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MRPL: Asserting Its Bragging Rights
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Foreign Investment
Panasonic To Form JV With IOC To Make Cylindrical Lithium-Ion Batteries
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Overseas Investment
ONGC Gets $32 Million Payment From Venezuela’s PDVSA
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Gas Scene
Sectoral Consumption of Natural Gas (Qty in MMSCM) in February 2024
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Domestic Natural Gas Scene Presents A Bright Picture In February 2024
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Sector-wise Consumption Of Natural Gas
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Higher LNG Imports Elevate Natural Gas Consumption Level in January 2024
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Near Total LPG Penetration Achieved
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India’s Fluctuating Gas Import Dependency
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Gas Transportation Major GAIL’s Physical Performance
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Growing CGD Sales In India
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Domestic Natural Gas Scene In December: Targets Elude, Production, Consumption More
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India’s LNG Import: Import Quantity Shrinks As Prices Go Up
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India’s LNG Import Picks Up As Market Prices Fall
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Sectoral Consumption Of Natural Gas
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Production Targets Confuse Domestic Natural Gas Scene In November
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Shale Gas & Oil Eluding India
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Domestic Natural Gas Scene in October 2023
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Indian Crude Basket Price In March 2024
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HPCL’s Expansion In Refining And Marketing Infrastructure
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IOC’s Huge Expansion Projects
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Power Shortage Continues In Many Regions, Promotes Diesel Sales
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Analysis Of Petroleum Products Consumption Trend During FY 2023-24
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BPCL’s Widening Global Upstream Footprints
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Impressive Auto Sector Growth Pushes Up Petrol Consumption In February 2024
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Petroleum Products Consumption Grows 5.7 % In February 2024
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Import and Export of petroleum products
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Analysis Of Type Of Crude Oil Processed By Refineries During April-February 2023-2024
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Crude Import Down In February, Russian Crude Share In Cumulative Import Still Strong
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Sharp Reduction In GRMs Of Indian Refineries
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Oil Marketing Company BPCL’s Refineries Performing Remarkably Well
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Oil India’s 3 Major Overseas Projects
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BPCL Finalises Strategic Aspirations For The Next Five Years
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Refining Margins In Global Hubs Show Mixed Trends
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