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]
India’s January crude imports hit 21-month high
February 23, 2024: India's crude oil imports jumped to a 21-month high in January as the world's third-biggest oil importer and consumer shipped in more fuel to meet surging demand led by strong industrial activity. Crude oil imports in January rose 9.5% month-on-month to 21.39 million metric tons, and   more..


LNG tankers may be converted to floating storage in India
February 23, 2024: A Japanese-Indian consortium is considering turning two LNG tankers into floating storage and regasification units to help meet growing demand in the South Asian economy, according to two people familiar with the matter. The units, with a capacity of 138,000 cubic meters each, are currently   more..


Oil India to resume suspended Libya block in FY ’25
February 23, 2024: State-owned Oil India Ltd is looking to resume its operations in the block Area 95/96 in Libya in the next financial year, an official source told FE. The company had suspended its operations in the block since May 2014 under force majeure clause, following the civil unrest in the African country. However,   more..


NTPC to set up India’s largest green hydrogen production facility in Andhra Pradesh
February 23, 2024: Power sector PSU and India’s largest integrated power company NTPC Limited has signed a Land Lease Agreement in order to realize its green energy and green hydrogen objectives, thus also contributing to the Government of India’s efforts towards energy transition. The agreement, signed on   more..


IOC Ventures into Shipping to Enhance Energy Security
February 23, 2024: Indian Oil Corporation (IOC), the nation's largest oil refiner, has unveiled plans to bolster India's energy security by venturing into the shipping business, particularly focusing on acquiring Very Large carriers. A VLCC, capable of transporting up to two million barrels of crude oil   more..


ONGC slow on exploring reserves
February 23, 2024: A lone international contractor hired to delineate hydrocarbons in Bangladesh's offshore blocks did little over the past two years, while the country suffers fuel shortages, sources say. India's oil-and-gas-exploration company named ONGC Videsh Ltd (OVL) is currently the only   more..


Russia’s Disrupted Oil Trade Crimps Margins for Indian Refiners
February 23, 2024: India’s state-run refiners are facing a shift in fortunes as once cheap Russian oil becomes more expensive and less accessible, squeezing profits for companies that had been benefiting from Moscow’s war in Ukraine Attacks in the Red Sea have driven up freight rates, while tougher   more..


Shell’s vision aligns with that of PM Modi for India’s energy sector, says CEO Wael Sawan
February 23, 2024: Rising political and social polarisation across the world is a real concern as it brings policy instability and raises risks for investments in the energy sector, Shell chief executive officer Wael Sawan told ET’s Sanjeev Choudhary in an interview. The trajectory of the energy transition will be   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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Tenders [FREE Access]
ONGC
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GAIL
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ONGC
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