Policy
Will OPEC+ Be Able To Stave Off Fall In Crude Oil Price?
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A Swift Move By Govt.: Windfall Tax On Crude, Diesel, Petrol, Jet Fuel Scrapped
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TotalEnergies Pauses Investments In Adani Group
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India To strengthen Its position In Petroleum Products Export Market
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India Has Managed To Reduce Subsidies To Oil And Gas Sector
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Regulation
India’s Oilfield Regulation & Development Act Being Amended
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ONGC To Enter Mining Offshore Minerals, Critical Minerals
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India’s Active LPG Consumers Double Since 2016
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Stalemate Continues In India’s Shale Oil &Gas Exploration
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Alternative Energy / Fuel
New Scheme To Promote Solar Rooftop Capacity
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New Projects
BPCL Inks Pact With Coal India
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TOTAL And Oil India Drilling Pact
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GAIL Re-Engages Ineos For Revival Of PTA Plant In Mangalore
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Market Watch
Caltex Lubricants Celebrates A Year Of Success In India
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Companies
LanzaTech Global, Inc.
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Shearwater Geoservices Lands Third Offshore Survey Job In India
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GP Petroleum Secures Order From HPCL For Bitumen
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Press Release [FREE Access]
Latest Exclusives

December 13, 2024: Domestic crude oil production has been falling even as petroleum products consumption has been rising. The share of domestic crude in petroleum products consumption touched a new low during April-October 2024. Click column Special Database for details.


December 12, 2024: India ranks as the world's third-largest oil consumer, utilising approximately 5.05 million barrels per day, which accounts for 5% of global consumption. It is Asia’s largest petroleum products exporter as well. Where does India figure in the ranks in terms of crude oil refining capacity? Click column Special Database for details.


December 10, 2024 | The Oil Marketing Companies (OMCs) Have Fuelled Inflation: The retail prices at the pump that the hapless Indian consumers pay for Petrol and diesel have remained the same since April 6, 2022. Based on official data, the average price of the Indian crude basket peaked in June 2022 at $116.01/barrel. Thereafter, the price of the Indian crude basket has steadily declined month after month and reached a low of $72.48/barrel on December 5, 2024. The Indian crude basket on December 5, 2024 was about 30% below the level at which the petrol and diesel prices were fixed 32 months ago. It is clear that the Government could have eased inflationary pressures by following the Government’s stated policy of allowing retail prices of petroleum products to be market driven. The violation of this stated policy was allowed when the global outlook of oil prices remains extremely soft. Click Free Access column Petro Intelligence to read a comprehensive piece on the subject.

Today's News [FREE Access]
Fortune 500 India: Indian Oil Corp. aims for $1 trillion valuation by 2047
December 12, 2024: India's largest state-owned oil marketing company, Indian Oil Corp. Ltd. (IOCL), has set its sights on becoming a $1 trillion company by 2047. That fits in with the Union government’s vision to transform India into a developed nation — Viksit Bharat — with a $30 trillion economy by   more..


Opec cuts forecast for oil demand growth in again due to challenges
December 12, 2024: OPEC cut its forecasts for oil demand growth this year and next on Wednesday, highlighting weakness in China, India and other regions in the producer group's fifth consecutive downward revision.   The weaker outlook highlights the challenge facing OPEC+, which comprises the   more..


ET Oil & Gas Expo 2024: India to drive 25% of global energy growth amid rising oil demand
December 12, 2024: India is poised to account for 25% of global energy growth over the next two decades, driven by rapid industrialization, urbanization, rising incomes, and increasing transportation needs, as highlighted during a panel discussion at the Economic Times Oil & Gas Annual Conference & Expo 2024.   more..


India to be key market for global oil & gas as China slows: HSBC report
December 12, 2024: India is expected to be the key destination for global oil and gas products as the country adds refinery, petrochem, LNG regasification and pipeline capacity while the Chinese economy slows, according to an HSBC report released on Tuesday. The report states that global oil prices are likely to remain weak.   more..


India mandates use of local solar cells starting June 2026
December 12, 2024: India’s Ministry of New and Renewable Energy has announced that energy companies will be required to use locally manufactured solar photovoltaic (PV) cells in their projects beginning 1 June 2026. This was following an amendment to the Approved Models and Manufacturers of Solar   more..


Godawari Power inks 7-year regasified LNG supply pact with GAIL for upcoming pellet plant
December 12, 2024: Godawari Power and Ispat Ltd (GPIL) on Wednesday (December 11) said it has entered into a seven-year agreement with GAIL (India) Ltd for the supply of regasified liquefied natural gas (RLNG). "We would like to inform you our company has entered into an agreement with GAIL (India) Ltd and   more..


BangladeshGovt to procure refined fuel oil, crude oil, LNG worth over Tk220 billion
December 12, 2024: The government today (11 December) approved separate proposals for procuring refined fuel oil, crude oil and one cargo LNG. The approval was given at the 16th meeting of the Advisers Council Committee on Government Purchase (ACCGP) of the running year, held at the Cabinet Division conference   more..


InoxGFL enters solar manufacturing, first plant likely by early next year
December 12, 2024: Leading wind turbine manufacturer InoxGFL Group is set to foray into solar manufacturing with two plants for both solar cells and modules. The company, which was one of the first movers in the domestic wind turbine market in the early 2000s, will mark its entry into the solar segment.     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...

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
Third Lovraj Kumar Memorial Lecture by Dr Vijay Kelkar
September 19, 2024: Dr Vijay Kelkar’s single biggest contribution is acknowledged to be India’s Goods and Services Tax (GST). He has also made significant contribution to the oil and gas sector. He served as secretary in the Ministry of Petroleum and Natural Gas. The Third Lovraj Kumar Memorial Lecture delivered more...

The Failing Climate Negotiations – And the Need for India’s Leadership in Representing the Global South
Surya P. SethiMay 16, 2024: Dr Surya P.Sethi, eminent energy expert, wirtes on the Failing Climate Negotiations – And the Need for India’s Leadership in Representing the Global South. Click more...

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...

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
Amit Garg Set To Be The New CMD Of HPCL
Amit GargAmit Garg is set to be the new Chairman & Managing Director of Hindustan Petroleum Corporation Limited (HPCL). Garg had taken over charge of the Director post a year back in December 2023. Prior to joining more...

SP Singh Joins Lanzatech As Managing Director
S.P. SinghAmongst other things, SP Singh will help chemicals and sustainable aviation fuel (SAF) customers in India reach their sustainability goals by further integrating LanzaTech’s CarbonSmart Ethanol into more...

IRM Energy Appoints Manoj Kumar Sharma As Chief Executive Officer
IRM Energy Limited has appointed Mr. Manoj Kumar Sharma as Chief Executive Officer (CEO) and Whole Time Key Managerial Personnel of the Company for a period of 3 (three) years effective from December 06, 2024, on recommendation of Nomination and Remuneration Committee. Manoj Kumar Sharma possesses very rich and varied more...

Vikram Saxena Selected For Post Of Director (T&FS), ONGC
Vikram SaxenaThe Public Enterprise Selection Board (PESB) has selected Vikram Saxena for the post of Director (Technology & Field Services), Oil & Natural Gas Corporation Limited(ONGC). Currently, Saxena is more...

D Kumar Selected For Director Finance Of MRPL
The Public Enterprise Selection Board (PESB) has selected Devendra Kumar for the post of Director (Finance), Mangalore Refinery & Petrochemicals Limited (MRPL); a Schedule ‘A’ Central PSU. Currently, Kumar is posted as Group General Manager GGM (F&A) - Chief Corporate Finance, Oil & Natural Gas more...

Gruner Renewable Energy Appoints Rajesh Gupta As New Executive VP
Rajesh GuptaGruner Renewable Energy has appointed Rajesh Gupta as its new Executive Vice President (Engineering, Quality Control & Commissioning). Gupta has relevant work experience in the Oil and Gas industry 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]
The Oil Marketing Companies (OMCs) Have Fuelled Inflation
more...

Big And Bold: When Will India’s Oil Industry Get Its Hulk?
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Is India becoming excessively dependent on Russian oil?
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Natural Gas: Elusive Target Poses A Dilemma
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Foreign Investment
Tecnimont Opens A New Office In Mumbai
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Overseas Investment
TKIL Industries Enters Green Hydrogen Sector With Sohhytec Partnership
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Gas Scene
Coal Bed Methane Development in India
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Poor Capacity Utilisation of LNG Terminals In India
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CGD Gets The Single Largest Share In Gas Allocation
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Domestic Natural Gas Scene In September 2024
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Decline In Natural Gas Prices Continues In All Major Global Hubs
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Sector-Wise Consumption Of Natural Gas
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Widening Gap Between Targets And Actual Production In Natural Gas
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Amazing Growth In LPG Coverage
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Domestic Natural Gas Scene in July 2024
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Fall & Rise In Domestic Natural Gas Production
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India’s Increasing Gas Import Dependency
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How Much Natural Gas Did India Consume During April-June 2024?
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What Precisely Is Wrong With Fixing Of Natural Gas Production Targets?
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Highest Ever Natural Gas Consumption In May 2024
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India Still Wrestling With shale Gas & Oil Development Without Much Success
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Domestic Natural Gas Scene In May 2024
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Domestic Crude Oil Share In Petroleum Products Consumed in India
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Where Does India Figure In terms of Crude Oil Refining Capacity In The World?
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Most Refineries Exceed Crude Processing Target, IOC’s 4 Refineries Fail
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Analysis Of Consumption Trend In Petroleum Products During FY 2024-25
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Declining Domestic Crude Oil Production
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Petroleum Industry Marketing Infrastructure
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Petroleum Products: Domestic Production Versus Consumption
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Diesel Consumption Almost Stagnant
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Impressive Increase In Export Of Petroleum Products In October, Imports Drop
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Analysis Of Crude Oil Processed By Indian Refineries In October 2024
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India’s Crude Oil Imports Up 4.2% In October, OPEC Share Goes Up
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India’s Narrowing Power Deficit Hits Growth In Diesel Sales In October
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Oil India’s Growth strategy
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BPCL Finalises Strategic Framework For FY ‘24-FY ‘29
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India’s GDP Growth Versus Per Capita Oil Consumption
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BPCL Reduces Logistics Cost Due To Pipeline Network
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Progress Of Ethanol Blending With Petrol Program
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Tenders [FREE Access]
Cairn Oil & Gas
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