The “Indian Petroleum & Natural Gas Statistics” presents updated comprehensive statistics on various aspects of Indian Petroleum & Natural Gas sector. The data on international developments in respect
The same old "package' of reduction in taxes and duties, issuance of oil bonds and higher subsidy sharing by the upstream oil companies will not work this time around. Only increasing the retail prices of petroleum products will. Will the Government go the extra mile? Raghuvir Srinivasan Advertisement
This is the conclusion of a two-part series on the global oil scenario and ONGC. The first part was published on May 6 In India, oil production grew by 6% in the last five years up to 2006-07. It was during the second half of 1994-95 that ONGC's medium-sized fields
Crude oil prices on Friday hit a fresh record high of almost $128 a barrel boosted by a bullish forecast from Goldman Sachs and as US President George W. Bush asked Saudi Arabia, the world's largest oil producer, for help to lower skyrocketing energy prices. Bush, on his second visit to Saudi Arabia this year, was renewing his appeal for the Organisation of the Petroleum Exporting Countries to boost its output.
Mangalore Refinery and Petrochemicals Limited (MRPL) will invest Rs. 8,000 crore in the next three years to expand the capacity of its present refinery at Mangalore from 9.69 million tonnes to 15 million tonnes, R. Rajamani, Managing Director, said here on Thursday. Environment clearance Mr. Rajamani said the company had obtained environmental clearance for the expansion and the process for its expansion would begin in right earnest.
The Hinduja group plans to go ahead with Rs 25,600-crore refinery at Kakinada even if its indecisive project partner Oil and Natural Gas Corporation (ONGC) opts out. "We have given in writing to the Andhra Pradesh chief minister that we are keen to set up the project, with or without ONGC," Hinduja Group chairman G.P. Hinduja said.
After the UK-based Hinduja group, Oil and Natural Gas Corporation's (ONGC) proposed Rs 26,500-crore refinery at Kakinada, Andhra Pradesh, has found new suitors in Reliance Industries (RIL) and Essar Oil. This is despite ONGC maintaining its stand that the refinery is not financially feasible unless the Andhra Pradesh government gives it more incentives.
CPC Corporation of Taiwan, the state-owned oil company, said yesterday it hoped to resume joint oil exploration soon with China National Offshore Oil Corporation (CNOOC) in the Taiwan Strait, which divides the self-governing island from the Chinese mainland. The plan reflects hopes that a warmer political climate between Beijing and Taipei could revive the sensitive project, which has been held up for years by tensions between China's Communist government and the island's democratically elected government.
The All Assam Students' Union (AASU) today despatched a memorandum to the Union Minister of Petroleum and the chairman, Indian Oil Corporation urging them to take urgent action to retain the identity of Assam Oil Division, Digboi Refinery of the Indian Oil Corporation Limited, keeping in view the interest of the people of the region. The AASU stated that the decision to shift the entire marketing operation of Assam Oil Division from Digboi to Guwahati to a new set up has created confusion in the minds of the people of Assam.
For eight successive years - between 1999-2000 and 2006-07 - the port at Visakhapatanam occupied the number one slot among the twelve major ports in the country. In 2007-08, it lost that position to Kandla. Against Visakhapatanam's 64.59 million tonnes, Kandla managed to handle a little more at 64.89 million tonnes of cargo. The Kolkata port (including Haldia) slipped to the third position at 57.28 million tonnes.
Close on the heels of President George W Bush's remarks linking Indians' food habits to rising global prices of commodities, the United States has now partly attributed the surge in oil futures to the increased demand in India and China. "There are a lot of different ways that we can reduce our dependence. Also, I would point out that, obviously, the demand for oil is growing around the world," White House Deputy Spokesman Scott Stanzel said in a briefing.
