Policy
OPEC To Regain Indian Market Share With Fresh US Sanctions Against Russia, Venezuela
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New Sanctions Threaten Russian Oil Sales To India
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Oil India Seeks Foreign Partners To Realise Its Ambitions
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Despite The “First Oil”: Deepwater Exploration Remains A Disappointing Experience For ONGC
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India’s LPG Import Dependency Set To Deepen In Coming Years
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Regulation
Regulator Acts To Ensure Jet Fuel Is Supplied In Airports Only Through Pipelines
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India’s Policy Strategies Prevent Wild Fluctuations In Natural Gas Prices
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Can A Reduced GST Rate Promote Sales Of Auto LPG Vehicles?
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Jet Fuel Consumption Surges To Pre-Pandemic Level
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Alternative Energy / Fuel
India’s Expanding Wind Energy Capacity
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New Projects
Narendra Modi Inaugurates IOC’s Haldia-Barauni Crude Oil Pipeline
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IndianOil’s MEG Project Inaugurated
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Market Watch
201 CNG Stations Across 17 States Opened
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Companies
Westfield Energy Resources Limited
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Servotech Secures Order Worth Rs 1.1 Billion From Indian Oil Corporation
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India’s KPIL Secures EPC Contract From Saudi Aramco
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Press Release [FREE Access]
Latest Exclusives

March 19, 2024: The Mumbai-based oil marketing company, BPCL, is known for its efficiency in operation and services to the public. Its three refineries located in Mumbai, Kochi and Bina operate at capacity utilisation above the name plate capacity. Click column Special Database for the highlights of each of these refineries.


March 18, 2024: India’s second biggest state-owned upstream company, Oil India Ltd, has investment in 10 projects across 7 countries with a total acreage of 44,300 sq.km. Of the three major overseas projects, two are in Russia and one in Mozambique. Click column Special Database for their details.

March 11, 2024 | Calling the bluff on India busting Russian sanctions: India’s reputation has been badly tarred in the West ever since the outbreak of the Ukraine crisis. It has been slammed for apparently working its way around Western sanctions by buying Russian crude, processing it into petroleum products at its refineries, and selling them to Europe. The accusation is that this insidious arrangement has provided fodder to the Russian war machine and frustrated the flailing Western efforts to yank President Vladimir Putin’s jackboot off Ukrainian throats. The Indian media has swallowed this argument – hook, line and sinker. Throughout 2023 and the first two months of 2024, there have been multiple reports that the Western sanctions against Russia had failed because of India’s shenanigans. A look at just a few reports carried by respectable Indian newspapers and news agencies will reveal just how vociferously they have endorsed this outrageous claim. What could be the motivation behind these reports? Click Free Access column Petro Intelligence for details.
Today's News [FREE Access]
India’s LNG imports jump in February
March 19, 2024: India’s liquefied natural gas (LNG) imports jumped in February compared to the same month in 2023, according to the preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell. The country imported about 2.44 billion cubic meters, or about 1.8 million tonnes of LNG,   more..


Reliance on oil imports rises in April-February, likely to hit fresh full-year high in FY24
March 19, 2024: Growing demand for fuel and other petroleum productsamid stagnant domestic crude oil output resulted in India’s reliance on imported crude increasing to nearly 88 per cent in April-February, indicating that oil import dependency for the full financial year 2023-24 (FY24) could breach the all-time-high   more..


Dolphin Drilling inks $154m semisub contract with Oil India
March 19, 2024: Semisub rig owner Dolphin Drilling has won a drilling contract for one of its rigs from oil and gas player Oil India Limited. Under the terms of the contract, Dolphin Drilling will deploy the 1974-built Blackford Dolphin semi-submersible drilling rig to support Oil India’s exploration and   more..


DMEA: Saudi Aramco to reduce supply of oil to China, India
March 19, 2024: Saudi Aramco is set to reduce its supply of crude oil to customers in China and India due to upcoming oilfield maintenance, according to comments made by five sources on March 11. The plans for reduction come following a decision by the Organisation of the Petroleum Exporting Countries and   more..


Oil And Gas - Outlook Improving For Oil India, Petronet LNG; Growth Faces A Hurdle At IGL: Motilal Oswal
March 19, 2024: Oil India Ltd. remains a strong conviction Buy with the stock currently trading at 1.4 times FY25E price/book (standalone). It is a unique play to benefit from the strong multi-year upcycle in both upstream and refining sectors. The stock currently trades at a P/E multiple of 7.9 times FY25E earnings per share   more..


Venture Global LNG to buy fleet of LNG vessels
March 19, 2024: Venture Global LNG said on Sunday it would acquire a fleet of nine liquefied natural gas(LNG) transport vessels, expanding its ability to sell and ship its own cargoes. Venture Global has exported hundreds of cargoes since it started liquefying gas for export in 2022 from the first of its three   more..


BPCL Secures 5th Spot in Business World Real 500
March 19, 2024: Bharat Petroleum Corporation Limited (BPCL), a Maharatna and India’s second-largest government-owned downstream oil producer, proudly announces its continued position as the 5th-ranked company in The Business World Real 500 List of 2024. This accomplishment underscores BPCL's unwavering commitment to   more..


HPCL logo declared as a Well Known Trademark
March 19, 2024: Maharatna PSU, Hindustan Petroleum Corporation Limited (HPCL) informed that the company's Corporate logo has been declared as a Well Know Trademark by the Registrar of Trademarks. HPCL became the first PSU among Oil Marketing Companies in India to have this recognition. The company states   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
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
Mundkur S Kamath Assumes Charge As MD of MRPL
Mundkur S KamathMundkur S Kamath has assumed charge as Managing Director (MD) of Mangalore Refinery and Petrochemicals Limited (MRPL). Prior to this, he was serving as Executive Director (Refinery) in the same more...

Lubrizol Names Bindra As MD of IMEA Region
Bhavana BindraSpeciality chemicals major Lubrizol has named Bhavana Bindra as MD for India, Middle East & Africa (IMEA) Region. She will be responsible for leading the company’s IMEA team to deliver more...

Ravindra Kumar Assumes Charge As Director (Operations) Of NTPC
Ravindra KumarRavindra Kumar has taken over charge as Director (Operations) of NTPC. He has been appointed to the post till the date of his superannuation i.e. October 31, 2027, or until further orders, whichever more...

Guwahati Refinery Appoints P K Basumatary As New Head
Pradip Kumar Basumatary has taken charge as the Chief General Manager and Refinery Head of Guwahati Refinery, owned by Indian Oil Corporation (IOC), following the superannuation of G K Goyari. Prior to the new role, Basumatary was the Chief General Manager (Technical) at the Guwahati Refinery. Basumatary, a mechanical 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]
Calling The Bluff On India Busting Russian Sanctions
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MRPL: Asserting Its Bragging Rights
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Halving Of OMCs Budget And Unchanging Petrol And Diesel Prices: Are They Connected?
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Buy Assets In US And Swap Crude With Europe
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Foreign Investment
BluPine Energy Acquires 369 MW Solar Power Assets From Acme Group
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Malaysian Joint Venture Owned FPSO Extracts First Oil From ONGC’s KG Block
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Overseas Investment
Bangladesh To Launch Offshore Oil And Gas Bidding Round
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Gas Scene
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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Natural Gas Price Trends: Global And Domestic
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Sectoral Consumption Of Natural Gas In September 2023
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
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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Global Oil Demand Growth Forecast For 2024 Remains Unchanged
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Indian Crude Basket Prices In February 2024
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Petro chemical Sector Ensures Stability In Naphtha Demand Growth
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Banned Pet Coke In Great Demand in India
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India’s Ambitious Ethanol Blending With Petrol Program. New Confidence Visible
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When Will Kerosene Be Out of Indian Households?
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What Has Been The Consumption Trend of Petroleum Products During Current FY?
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Region wise Power Supplied vs requirement for January 2024
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Impressive Growth In Petroleum Products Consumption
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Exports, Imports Of Petroleum Products In January Maintain The Normal Growth Pattern
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Analysis of crude oil processed by Indian Refineries in January 2024
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Russia Retains 37% Share In India’s crude imports, OPEC Share Down Further
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Indian Crude Basket Prices In January 2024
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Consumption Growth In Diesel, Petrol, Jet Fuel, LPG
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Fuel & Loss In Indian Refineries
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ONGC’s Widening Collaboration With International Companies
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Oil India’s Expanding Domestic Assets
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Tenders [FREE Access]
PetronetLNG
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