Policy
The Suez Canal / Red Sea Crisis: Impact Spreading From Crude Price Increase To CO2 Emissions
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Biden’s Pause On LNG Exports From USA Threatens Future Energy Security
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OMCs Reporting All Time High Profits Will Retail Prices Be Reduced Before Elections?
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Oil Companies Focus On Expansions Not Greenfield Projects
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India Emerges Among Front Runners In The Race For Renewable Energy Capacity
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Regulation
Unpredictable Nature Of India’s Natural Gas Demand
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Government Open To Stake Dilution In Upstream Major ONGC
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FAME Subsidy Cut By FM Had An Element Of Surprise?
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Govt. Hikes Windfall Tax On Crude Again
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Alternative Energy / Fuel
SAEL Secures $1 Bn Capital To Fund Its Renewable Energy Portfolio
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Cabinet Approves Rs 85 Bn Incentive Scheme For Coal Gasification Projects
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New Projects
L&T Energy Hydrocarbon Bags ‘Large’ Order From IndianOil
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Shardul Amarchand Mangaldas Advises Petronet LNG On Gopalpur Project
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Market Watch
PetronetLNG Signs Long Term Deal For LNG Imports From Qatar
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Servotech Power Systems, BPCL To Set Up 1,800 EV Charging Stations Pan India
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Companies
Crown LNG
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Adani Total Gas, INOX India Join Hands To Distribute LNG
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Oil India To Invest Rs 60 Billion In E&P In 2025
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Engineers India: Net Profit At Rs 633.5 Million
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Gujarat Gas Signs MoU With HPCL
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Press Release [FREE Access]
Latest Exclusives

February 23, 2024: Despite the shrinking price discount, Russian crudes managed 37 per cent share in India’s crude imports in January. OPEC share dipped further. Total crude import In January was up by 5.7%. Click column Special Database for details.


February 22, 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 allocation of gas in January and April-January 2024.

February 21, 2024: As usual, domestic production of natural gas failed to meet the monthly targets fixed for the month of January 2024.All the players uniformly failed in their targets. But the overall consumption of natural gas was higher than the level in January 2023 on account of higher LNG imports. Click column Gas Scene for details.

February 12, 2024: Halving Of OMCs Budget And Unchanging Petrol And Diesel Prices: Are They Connected? Indian media was slightly critical of finance minister Nirmala Seetharaman for halving the capital to oil marketing companies in the interim budget for FY 2024-25. Media’s surprise, though not clearly spelt out, looked as though it was not the right thing to do. Energy expert Bhamy Shenoy differs and supports the finance minister. He is also highly critical of the oil marketing companies for failing to revise the retail prices of petroleum products for the last 140 days despite the change in crude prices. He argues that the pricing mechanism was committed to reflect the daily fluctuations in the crude market. Click Free Access column Petro Intelligence for Bhamy Shenoy’s views on the issue.
Today's News [FREE Access]
Petroleum Minister Puri Stresses India’s Vital Role in Global SDG Agenda at UNGCNI Convention
February 24, 2024: In a compelling address at the UN Global Compact Network India’s (UNGCNI’s) 18th National Convention, Hardeep Singh Puri, Minister of Petroleum & Natural Gas and Housing & Urban Affairs, underscored India's pivotal position in the global pursuit of Sustainable Development Goals   more..


Reliance’s Russian oil imports up
February 24, 2024: India’s Reliance Industries Ltd raised its January oil imports from Russia by about 48% to nearly 335,700 barrels per day (bpd), data from industry and trade sources showed. The private refiner imported about 1.4 million bpd of oil in January, up 45% from a low base in the previous   more..


Norwegian LNG fueling India’s energy future starting 2026
February 24, 2024: In a strategic move echoing India's green ambitions, Deepak Fertilisers has joined forces with Norwegian giant Equinor to secure a 15-year supply of liquefied natural gas (LNG). The accord, a testament to India's drive for sustainable alternatives and carbon reduction, will see Equinor sourcing LNG   more..


New LNG Vessel ‘GAIL URJA’ Arrives at Dabhol with First Shipment
February 24, 2024: GAIL's new LNG vessel "GAIL URJA" with its first shipment reached the company's Dabhol LNG Terminal, Maharashtra on 21st February 2024. This is yet another momentous occasion for the company as it marks a new milestone in its LNG journey It shall also make a significant   more..


IOC ventures into shipping with VLCC acquisition plan
February 24, 2024: Indian Oil Corporation Ltd. (IOC) is set to make its foray into the shipping business by acquiring or leasing two second-hand very large crude carriers (VLCCs) through its newly established unit in Gujarat International Finance Technology City (GIFT City). The move is aimed at enhancing India’s energy security.    more..


Oil India inks pact for green hydrogen tie-up with Fertilisers and Chemicals Travancore
February 24, 2024: Oil India Limited (OIL) on Thursday signed a Memorandum of Understanding (MoU) with The Fertilisers and Chemicals Travancore Limited (FACT), a public sector company, to explore opportunities in the domain of green hydrogen, including green ammonia, green methanol and other derivatives. The   more..


Peers Call For London-Delhi Talks On India-Russia Oil Deal
February 24, 2024: It is time for Britain to have difficult conversations with India over buying oil from Russia, peers said in House of Lords this week, as anger mounted over the death of Russian leader Alexei Navalny. "It is painful to see many friendly countries sharing a stage with the Russian foreign   more..


Renewable Energy capacity to rise to 170 GW by March 2025, says ICRA
February 24, 2024: India's installed Renewable Energy (RE) capacity, excluding large hydro plants, is estimated to increase to 170 GW by March 2025 from a level of 135 GW in December 2023, rating agency ICRA said on Friday. "ICRA estimates that the rise in the RE capacity over the next five-six years   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
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
Vivek Tongaonkar Selected For Director, Finance Of ONGC
Vivek TongaonkarThe Public Enterprise Selection Board (PESB) has selected Vivek Chandrakant Tongaonkar for the post of Director (Finance), Oil & Natural Gas Corporation Limited (ONGC). Currently, Tongaonkar more...

Sankar Appointed Executive Director At BPCL Kochi Refinery
M ShankarM. Sankar has been appointed as Executive Director of Bharat Petroleum Corporation Limited (BPCL) Kochi Refinery. He assumed charge on February 1. He was looking after the operations of the refinery and 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]
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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Cheap Crude Does Not Benefit PSU Refineries
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Double Trouble
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Foreign Investment
Adani Total Dhamra LNG Terminal Operating At 55% Utilisation Rate
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Overseas Investment
Oil India Looking At Return To Libya
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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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CGD Business Registers Impressive Growth
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Domestic Natural Gas Scene In September: Production Up, Targets Eluded
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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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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
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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IOC Emerges As A Major Force In Petrochemicals
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What Has Been The Implementation Progress Of ONGC’s Major Projects In FY 23-24
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Middle Distillate Yield In Public Sector Refineries
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Specific Energy Consumption In Public Sector Refineries
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India’s Petroleum Products Export Up In December 2023, Import Declines
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Analysis Of Crude Oil Processed In Indian Refineries in December 2023
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OPEC Share Continues to slide In India’s Crude Import, Russia Still Strong
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India’s Oil Production, Domestic Vis a vis Overseas
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India’s Widening Fuel Marketing Infrastructure
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December 2023 Consumption Growth Of Petroleum Products Moderate
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Crude Oil Import Bill Poised To Shrink In FY 2023-24
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Production And Consumption Of Petroleum Products Maintain Healthy Growth During April-Dec 2023
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Will PSU Oil Cos Achieve Capital Expenditure Target For FY 23-24?
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Petroleum Sector Revenue Contribution To Central / State Govts, Declining Subsidy
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ONGC
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