Sources say that India's HPCL will start a LNG terminal by the end of the year and seeks a long-term supply.
Three sources claim that India's Hindustan Petroleum Corp. (HPCL) has been in discussions with eight to nine companies about a long-term LNG supply. HPCL built the sixth LNG import terminal in India at Chhara, located in western India. New Delhi is trying to increase the use of cleaner fuels. It was the bad weather that prevented the company from commissioning the plant earlier this year.
Sources say that India's Adani Group is planning 10 GW of overseas hydroelectric projects
Four sources familiar with Adani Group's plans said that the group plans to build ten gigawatts worth of hydroelectric projects overseas in the next few years. This will help the conglomerate achieve its goal of achieving net zero carbon emission by 2050. The billionaire Gautam Adani announced that his group, which includes businesses ranging from rice to concrete…
India is considering easing export restrictions on non-basmati risotto as supplies improve
A senior government official announced on Wednesday that India was considering loosening restrictions on non-basmati exports. This comes as inventories of the world's largest exporter of rice have soared, and farmers prepare to harvest their new crop within the next few weeks. This move follows Prime Minister Narendra Modi’s government's implementation…
Fully Laden LNG Tankers Sit Idle Off Indian Ports after Force Majeure
At least five fully-laden liquefied natural gas (LNG) tankers are idling offshore India, as yet unable to discharge their cargoes, after importers there declared force majeure earlier this week, according to an analyst and shipping sources.Gas demand is falling globally amid the fast-spreading coronavirus which has capped industrial output, forcing…
Reliance Reaps Record Profit
Indian oil-to-telecoms conglomerate Reliance Industries said strong growth in its consumer-facing businesses lifted second quarter net profit by 18.3% year-on-year to a record total.Consolidated net profit rose to 112.62 billion Indian rupees ($1.58 billion) in the three months ended Sept. 30, the country's largest company by market value said on Friday.Analysts on average had expected a profit of 111.71 billion rupees…
US Oil Exports to India Soar Ahead of Iran Sanctions
U.S. crude oil exports to India hit a record in June and so far this year are almost double last year's total as the Asian nation's refiners move to replace supplies from Iran and Venezuela in a win for the Trump administration.U.S. President Donald Trump's administration has been pressuring its allies to cut imports of Iranian goods to zero by November and India's shift advances the U.S.
ADNOC to Supply First Oil Cargo for Indian Emergency Reserve
Abu Dhabi National Oil Co (ADNOC) will supply the first oil cargo for India's strategic petroleum reserve (SPR) over the weekend, an Indian government statement said, becoming the first foreign company to lease storage in the country.India, hedging against energy security risks as it imports most of its oil needs, is building emergency storage…
GAIL India to get 90 LNG Cargos from U.S. in 2018
India's state-owned GAIL (India) Ltd on Friday said it would be annually receiving about 90 cargoes of liquefied natural gas (LNG) from Sabine Pass and Cove Point LNG terminals in the U.S. GAIL has long-term deals to annually buy 5.8 million tonnes U.S. LNG. GAIL would be procuring about $2 billion worth of LNG per annum from USA from the fiscal year 2018/19. GAIL on Saturday received its first consignment of LNG from the U.S.
India's Oil Imports Reach Record High in January
India imported a record 4.93 million barrels of oil per day (bpd) in January to feed its expanded refining capacity and meet rising demand, ship tracking data obtained from sources and data compiled by Thomson Reuters Oil Research & Forecasts showed. The world's third-biggest oil importer shipped in 13.6 percent more oil in January than a year earlier and about 12.5 percent more than the previous month, the data showed.
Indian Oil Aims for LNG Import Capacity of 13.5 Mln T in 5 Years
State-owned Indian Oil Corp Ltd aims to have capacity to import about 13.5 million tonnes of liquefied natural gas (LNG) in five years, its head of business development said on Friday, helping India to gradually move to a gas-based economy. Prime Minister Narendra Modi's government wants to raise the share of natural gas in India's energy mix to 15 percent in the next few years from about 6.5 percent now.
Indian Oil Plans $2.4 bln Expansion of Gujarat Refinery
India's top refiner Indian Oil Corp will spend $2.4 billion to increase capacity at its refinery in western India by about a third over the next few years to meet rising local demand for fuel. The plan, announced on Friday, will enable the plant in Gujarat state to process 360,000 barrels per day (bdp) of oil by the end of 2021. It is part of…
Essar Oil's fuel exports to fall in 2018/19 as focus shifts to local sales
Indian refiner Essar Oil's fuel exports will sharply drop in 2018/19 as it ramps up local sales by doubling its retail network and turns some of its naphtha into profitable gasoline, its managing director said. Rising fuel demand, driven by India's thirst for gasoline, is expected to help push the growth rate in the country's fuel consumption ahead of China's.
GAIL Seeks Interest in Swapping Out U.S. LNG Supplies
State-run GAIL (India) Ltd has been seeking to swap some of its contracted gas supplies from Sabine Pass Liquefaction in the United States to reduce shipping costs. GAIL has a contract to buy 3.5 million tonne a year of liquefied natural gas from Sabine Pass on a FOB basis for 20 years. The supplies are expected to begin from the first quarter of 2018, a document posted on the company's website showed.
Indian Oil Shifts Focus to Expanding Natural Gas Business
Indian Oil Corp (IOC) , the country's biggest refiner, is expanding its natural gas business as the south Asian nation, the world's third-largest carbon emitter, aims to cut its dependence on coal and oil. Thirteen of the world's 20 dirtiest cities are in India, with New Delhi taking top spot, a report by the World Health Organisation said last year.
RIL, BP and NIKO issue Notice of Arbitration to Indian Government
Guideline 2014” notified on January 10, 2014. The continuing delay on part of the Government of India in notifying the price in accordance with the approved formula for the Gas to be sold has left the Parties with no other option but to pursue this course of action. Without this clarity, the Parties are unable to sanction planned investments of close to $4 billion this year.
BPCL to Shut Bina Refinery for a Month
India's Bharat Petroleum Corp plans to fully shut its 120,000 barrels per day Bina refinery in central India for up to a month in September and October for maintenance, its head of refineries B.K. Datta said on Monday. Bina refinery has only one crude oil unit. During the shutdown, the refiner will carry out maintenance at the plant's secondary units as well. Precise dates for the shutdown have not been decided yet.
India's Reliance Q4 Sales Rise
Indian energy company Reliance Industries Ltd posted nearly flat fourth-quarter profits, in line with estimates, as a slimmer margin in its oilrefining business offset higher revenue. Reliance, which operates the world's biggest refining complex in western India, reported net profit of 56.31 billion rupees for the quarter to end-March, compared with analysts' expectations of 56.62 billion rupees.
India Reliance, HPCL Mittal plan refinery expansions
India's Reliance Industries, owner of the world's biggest refining complex, and HPCL-Mittal Energy Ltd (HMEL), part owned by steel tycoon L N Mittal, have sought environment ministry approval for raising capacity of their plants. Reliance, whose two plants at Jamnagar in western India has installed capacity to process about 1.2 million barrels per day (bpd) oil…
