The Kirit Parikh panel to review natural gas prices in India has recommended a price band of $4-6.50/unit for gas from old legacy fields, which account for over 70% of the domestic output, and ushering in of fully market-determined rates by January 2027. It proposed price escalation for the old fields, with an increase of […]

Indian state-refiner Bharat Petroleum Corp is re-attempting to charter a ship to load 700,000 barrels of Russia’s Sokol crude oil this month, sources familiar with the deal said.  Indian state-refiner Bharat Petroleum Corp is re-attempting to charter a ship to load 700,000 barrels of Russia’s Sokol crude oil this month, sources familiar with the deal […]

Maintenance and repair work of the CNG gas pipeline which is scheduled from 27th November to 3rd December has halted the industrial production in many units situated in Tarapur MIDC. CNG gas is supplied in Tarapur MIDC by Gail India Company. Steel manufacturing giants like Tata Steel, JSW Steels and Viraj Alloys are major consumers of CNG. 130 other medium and large-scale […]

Three life insurers and two banks are set to pick up 50% stake in the proposed joint venture by Indian Oil (IOC) and Chennai Petroleum (CPCL). The new entity will be incorporated through a seed capital of Rs 5 lakh. The joint venture is being set up to implement a 9 million tonne a year […]

Gaurav Moda, India Energy Leader, EY, said falling and consistent crude prices are always good news for India, given the country continues to import nearly 80% of its oil requirements.  NEW DELHI:  Indian refiners like Nayara Energy and Indian Oil Corporation are likely to benefit from the sharp fall in crude oil prices recently. Amid the talks […]