NATIONAL NEWS

Indian Oil to launch cost-effective aluminium-air batteries for EVs

State-run Indian Oil Corporation (IOC) is planning to launch first-of-its-kind aluminium-air batteries that are potentially a more cost-effective alternative to lithium-ion batteries for use in electric vehicles (EV) and stationary applications. The idea is to manufacture these barriers in sites closer to demand centres such as Chennai or Pune. IOC bought a minority stake in Read more

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Business environment for City Gas Distribution at its best: D K Sarraf, PNGRB

New Delhi: The business environment for City Gas Distribution (CGD) companies in India is at its best currently with the government and the regulator pushing for creation of supporting infrastructure and market reforms, D K Sarraf, Chairperson of downstream Oil & Gas regulator Petroleum & Natural Gas Regulatory Board (PNGRB) has said. “The business has Read more

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Govt may consider halving cess on domestic crude

New Delhi: The government may give a ‘Make in India’ push to oil and gas explorers, as it is considering a proposal to halve cess on domestic crude oil to encourage exploration activity and allow Covid-hit oil producers to protect their margins at a time when a glut in the market and suppressed demand is Read more

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Strategic Energy Partnership emerged as cornerstone of expanding India-US ties: Envoy

Washington: Strategic Energy Partnership has emerged as a cornerstone of expanding the US-India ties as the bilateral hydrocarbon trade has increased by 93 per cent in the last two years, a top official has said. India’s Ambassador to the US Taranjit Singh Sandhu, in an op-ed in The Houston Chronicle, wrote that numbers speak for Read more

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Maharashtra sugar factories asked to cut down output, focus on ethanol

AURANGABAD : A top sugar federation in Maharashtra is encouraging factories to cut down on production of the sweetener in view of its surplus stock and instead focus on ethanol production.This will also help sugar factories in overcoming their losses, Maharashtra State Co-operative Sugar Factories Federation Chairman Jayprakash Dandegaonkar told PTI. The country produces about Read more

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Petroleum Ministry identifies tourism sites can be turned into green zones with use of only bio fuels

Union cabinet minister Dharmendra Pradhan on Sunday recommended a proposal under which identified tourist sites or iconic spots will be turned into green zones where vehicles using only eco-friendly fuel will be allowed to ply. He said the proposed project will be the joint effort of the ministry of tourism and the ministry of petroleum Read more

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BPCL pays for defaulting Videocon in Brazil oil block

NEW DELHI: State-owned Bharat Petroleum Corp Ltd (BPCL NSE -0.40 %) has been forced to pay for its defaulting partner Videocon NSE -4.35 % Industries Ltd after it had relied on a rarely used model to acquire stake in five oil blocks in Brazil, sources said. In September 2008, BPCL and Videocon Industries had formed Read more

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H-CNG: Modi Govt notifies norms for alternative fuels

The Road Transport and Highways Ministry has notified regulations for various alternative fuels to further promote sustainable transportation, Union Minister Nitin Gadkari said on Sunday.It is a step toward an alternative clean fuel for transportation, said Gadkari. The Road Transport and Highways Ministry has notified regulations for various alternative fuels to further promote sustainable transportation, Read more

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Draft regulation for network tariff determination is a good beginning, but challenges for open access in CGD will still remain: ICRA

On September 23, 2020, the Petroleum & Natural Gas Regulatory Board (PNGRB) has released a draft regulation for determination of transportation rate for City Gas Distribution (CGD) companies, which came into being before the regulator PNGRB was set up. Earlier, in Jun 2019, the PNGRB had floated a concept paper mentioning two options for determining Read more

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Indian Oil Corp seeks petrol after BPCL’s post-hiatus purchase

SINGAPORE: Indian Oil Corp is seeking gasoline, a tender document showed, making it the second refiner from the country looking to plug a gap caused by low crude runs to curb inflating supplies of diesel and jet fuel, industry sources said. IOC, which does not typically comment on its spot deals, is looking to import Read more

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BPCL sale may be delayed to next fiscal year, worsening federal deficit woes

NEW DELHI: India’s efforts to privatise refiner Bharat Petroleum Corp. Ltd. could spill over into the next fiscal year, according to a government document and sources, hurting New Delhi’s efforts to rein in a ballooning fiscal deficit. The privatisation of key companies, including BPCL, is a key part of government plans to pare the fiscal Read more

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Govt mulls gas price floor pegged to Asia LNG to help ONGC

India is considering a floor price for natural gas produced from local fields to shield explorers like state-run Oil & Natural Gas Corp. as tariff slumps, people with knowledge of the matter said. Shares of explorers gained. The proposal being considered by the oil ministry pegs the price to the popular benchmark Japan-Korea Marker that Read more

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Domestic gas prices to be cut 18% to $1.97/mmbtu: Care Ratings

Owing to the fall in global gas prices due to higher production and coronavirus-induced low demand, experts feel that the Union government will cut the price of domestic gas by a sharp 17.7% to $1.97 per million British thermal units (mmBtu). The new price will be effective for six months starting October 1. If the Read more

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Pradhan invites US cos to engage in developing gas infrastructure in India

Union Minister of Petroleum and Natural Gas and Minister of Steel Dharmendra Pradhan on Thursday discussed ‘Strategic Energy Partnership’ during video conferencing with Kenneth Juster, the US Ambassador to India, and invited the US companies to engage more intensely in developing the gas infrastructure in India. Informing about the same in series of tweets, the Read more

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India imports 53% of oil and 41% gas from Arab region

New Delhi: As much as 53 per cent of India’s oil imports and 41 per cent of gas imports now come from the Arab region which is vital for India’s energy security, according to Sanjay Bhattacharyya, Secretary in the Ministry of External Affairs, MEA, here. “The nature of the energy partnership has evolved from mere Read more

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