Policy
India Reacts Sharply: EU Criticism Against Export Of Products Made From Russian Crude
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Russia’s Oil Major Rosneft Pivots To India
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Indian Oil & Gas Majors’ Special Love For Imported Ethane
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Private Players In Search Of A Strategy: Confusion In India’s Petroleum Retailing Deepens With Fall In Crude Price
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India’s Petroleum Products Consumption Recovery Rated Globally Outstanding
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Regulation
ONGC Excited Over New Discoveries In Mumbai Offshore
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Ban On Diesel Four Wheelers In Cities Looks Inescapable
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Green Hydrogen To Enter India’s Ports Sector
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Experts’ Tantalising Prediction: CBM Gas Can Help Cut Crude Import Bill By $ 2 Billion
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Alternative Energy / Fuel
Growing Alternate Fuel Marketing Infrastructure In India’s Retail Outlets
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New Projects
UAE-Oman-India $5 Billion Undersea Pipeline Proposed
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EIL Begins Feasibility Study For Proposed Petrochemical Complex In Butibori
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BPCL To Invest ₹490 Billion In Petchem, Renewable Project At Bina Refinery
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Market Watch
NRL Inks MoU With IndianOil For Sale-Purchase Of Petroleum Products
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RIL-Jio Sells Diesel At Cheaper Rates Than State Retailers
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Companies
HPCL-Mittal Energy Limited
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BPCL Partners With Aspen Technology
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HMEL Partners With NTPC
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Tata Steel Inks Pact With BPCL To Source LNG
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Press Release [FREE Access]
Latest Exclusives
June 2, 2023: With domestic production of natural has unable to meet even 50 per cent of the domestic demand, Indian industry has been depending on naphtha to meet its requirement. Petrochemical industry is the largest consumer of naphtha. Of late, a section of the industry is trying to reduce dependence on naphtha through import of ethane. Click column Special Database for details of naphtha’s sector-wise consumption.

June 1, 2023: Petroleum Products: Product-Wise Consumption In April 2023. Click column Special Database for details.

May 31, 2023: Officially released figures for April 2023 show a drop in import of petroleum products which is understandable if Indian refineries processed larger quantities of price discounted Russian crude, but export too dropped though recovered from the level in April 2022. Click column Special Database for details.

May 25, 2023 | Petro Retailing: Private Players Fumble With Strategic Options | Recently, there was a buzz of excitement over a news report that Jio-bp, the joint venture of Reliance Industries Ltd and British Petroleum (bp), was ready to shake up the retailing segment by selling premium diesel at a price that would be Re 1 per litre lower than that charged at public sector outlets. Competition might be too strong a word to characterise this situation but the move has a symbolic significance that cannot be ignored. Market circles have confirmed the development but it has not triggered any tremor - as yet. One reason for this is that the difference in price is too small to create a major impact. Is Jio-bp testing the waters? These private players have suffered financial losses periodically as they are not in a position to raise retail prices every time that crude oil prices lurch upwards. Since April 2022, the PSUs have not revised the retail prices of petroleum products such as petrol and diesel. The private retailers simply cannot survive by raising prices alone. Click Free Access column Petro Intelligence to read a comprehensive piece on the subject.
Today's News [FREE Access]
BPCL future oil, refining landscape to feature much larger petrochemicals footprint
June 2, 2023: India's Bharat Petroleum Corp. has crafted out a major expansion strategy that will see the state-run refiner investing close to $6.5 billion over the next few years to sharply expand its footprint in petrochemicals, lubricants and renewables, as it prepares for a changing energy landscape.    more..


China, India to receive record Russian crude oil in May: data
June 2, 2023: Russian crude oil imports by China and India in May are expected to hit an all-time high as buyers gorged on discounted supplies, reducing demand for oil from the Middle East and Africa, shiptracking data showed. The jump in Russian supplies comes ahead of a meeting between the Organization of the   more..


Nepal and India agree to construct two petroleum pipelines for smooth supply of petroleum products
June 2, 2023: An agreement has been reached between Nepal and India for the construction of two important pipelines in the ongoing India visit of Prime Minister Pushpa Kamal Dahal ‘Prachanda’. India would provide around Rs 17 billion for the same. Two petroleum pipeline projects would be constructed while it while   more..


Commercial LPG cylinders’ price slashed by ₹83.5
June 2, 2023: A commercial Liquefied Petroleum Gas (LPG) cylinder in India is now cheaper by ₹83.5, according to the monthly price revision for LPG cylinders on June 1, posted on the official website of Indian Oil. However, the price of 14.2-kg domestic gas cylinders that are used in households for cooking, remains   more..


APAC Oil and Gas Firms to Face Tougher Fundraising for New Projects: IEEFA
June 2, 2023: Oil and gas firms in the Asia Pacific (APAC) region may have a harder time getting financing for new production projects, according to a recent study by the Institute for Energy Economics and Financial Analysis (IEEFA). More financial institutions are committing less funding for fossil fuel,   more..


Saudi Aramco cuts June propane price by $105/mt to $450/mt
June 2, 2023: Saudi Aramco has cut June propane price by $105/mt month on month to $450/mt. This is on the back of ample supplies in Middle East and US and low petrochemicals demand from China, according to reports. This would be implemented in India from July. Hence, July propane would become cheaper by 17-18 percent versus   more..


2,50,000 tonnes diesel from India through pipeline
June 2, 2023: Bangladesh Petroleum Corporation (BPC) is coming under a new name to start operations with the responsibility of taking care of the Bangladesh-India Friendship Pipeline. It will bring major changes in the country's energy sector. It will be a milestone in supplying fuel to the 16 districts of   more..


Sanjay Varma is MRPL’s new Managing Director
June 2, 2023: Sanjay Varma has been appointed as the Managing Director (Additional Charge) of Mangalore Refinery and Petrochemicals Limited (MRPL), effective from June 1, 2023. This appointment was made by the Ministry of Petroleum and Natural Gas, Government of India, as per their official order. MRPL is a prestigious CPSE   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
L&T Appoints Company Veteran S N Subrahmanyan As CMD
S.N. SubrahmanyanThe Board of Directors of Larsen & Toubro has appointed S N Subrahmanyan as Chairman and Managing Director with effect from October 1, 2023. He is currently the Chief Executive Officer and more...

AK Jain Appointed PNGRB Chairman
A.K. JainThe Appointments Committee of the Cabinet (ACC) has approved the appointment of A.K. Jain as the new chairman of the Petroleum & Natural Gas Regulatory Board (PNGRB). Jain has been appointed as the more...

GAIL Announces Appointment Of Govt Nominee Directors On Its Board
GAIL (India) Limited has announced the appointment of Praveen Mal Khanooja and Kushagra Mittal as Govt Nominee Directors on its board. They have been appointed on GAIL board with effect from May 16 for a period of three years on co-terminus basis or until further orders, whichever is earlier. Khanooja is serving as Additional more...

Govt. Names Ravneet Kaur As Chairperson Of Competition Commission Of India
Ravneet KaurThe government has named Ravneet Kaur as the Chairperson of antitrust body, Competition Commission of India (CCI). The appointment of Ravneet Kaur, a 1988 Punjab cadre IAS officer, will be for a period 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]
Petro Retailing: Private Players Fumble With Strategic Options
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Saudi-India relations: The winds of change
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Crude From Russia; Gas From The US
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Cry Freedom From Crazy, Cryogenic Ideas
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Foreign Investment
SC Appointed Committee Finds No Evidence Against TotalEnergies JV Partner
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Japan To Fund Renewable Energy Projects
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Overseas Investment
BPCL Agrees To Match Brazilian Companies’ Bids For Two Videocon Oil Assets
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ONGC, Oil India In Talks For 50% Stake In Kenya Oilfield
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Gas Scene
LPG Consumption Growth Looks Halted
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Sector-Wise Consumption Of Natural Gas Continued Same Pattern In FY 2022-23
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Unimpressive Domestic Natural Gas Scene Of FY 23
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LPG Consumption Growth Slows Down In FY ‘23
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Sectoral Consumption Of Natural Gas
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History of India’s Growing Gas Import Dependency
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Expanding CGD Infrastructure in India
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Sector-wise Consumption Of Natural Gas In February, April-February 2023
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Domestic Natural Gas Scene in February 2023
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Indian Oil Corporation Moves Towards Natural Gas
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Sectoral Consumption of Natural Gas In January 2023
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Unimpressive Domestic Natural Gas Production Scene
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Latest Liquefied Petroleum Gas Profile
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Natural Gas Price Trends: Global, Domestic
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The widening CGD Infrastructure
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Naphtha’s Crucial Role In Indian economy
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Petroleum Products: Product-Wise Consumption In April 2023
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India’s Petroleum Products Import, Export Drop In April 2023
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OPEC Share In India’s Crude Oil Import Crashes To 48.6% In April
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Analysis Of Crude Oil Processed By Indian Refineries in April 2023
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Domestic Share In Petroleum Products Produced Touches A New Low In April
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India’s Crude Oil Import Bill Touches a New High
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Indian Oil Corporation’s Pipeline Network Expansion
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BPCL Remains Committed to Widen Its Upstream Global Spread
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Moderate Increase In Refinery Margins In Trading Hubs, Largest In Rotterdam
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Global Natural Gas Price Continues Its Journey In Reverse Gear
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How Prices Moved In Indian Crude Basket In April?
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Product-wise Consumption Trend Analysis In FY 2022-23
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Product-wise Consumption of Petroleum Products in March 2023
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India’s Petroleum Products Export Drops, Import Up in FY 2022-23
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Analysis Of Type Crude Oil Processed in India in FY 2022-23
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India’s Crude oil Import Bill $158.3 Billion in FY 23, OPEC Share Down, Russia’s shoots Up
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All Domestic Producers Fail To Achieve Crude Production Targets
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Share of Domestic Crude in Total Petroleum Products Consumed Touches A New Low
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Total Crude Processed Far Exceeds India’s Installed Refining Capacity
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Quantity of High Sulphur Crude Processed Reaches A New High
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Oil & Gas PSUs Exceed Capital Expenditure Target In FY 2022-23
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