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Exclusive-India starts process to fund state refiners` green goals via equity -sources The Indian government this week kicked off a multi-billion-dollar process seeking equity in its three big state refiners in return for funding towards the firms' energy transition projects, three sources familiar with the matter told Reuters. The Oil Ministry on Wednesday asked state-controlled Indian Oil Corp and Bharat Petroleum Corp Ltd (BPCL) to launch rights issues, and asked Hindustan Petroleum Corp Ltd (HPCL) to make a preferential share allotment to the government, the people s...
Exclusive-India starts process to fund state refiners` green goals via equity -sources
Exclusive-India starts process to fund state refiners` green goals via equity -sources
Source: Reuters
23/06/2023 6:02:52 PM
Iraq exports over 100 mn barrels of crude oil in March Iraq exported about 100.91 million barrels of crude oil in March, generating $7.4 billion in revenue, the country's Oil Ministry announced. The average price for Iraqi crude oil in March was 73.37 dollars per barrel, the Ministry said in a statement on Saturday, citing statistics from the State Organisation for Marketing of Oil, an Iraqi company. About 98.87 million barrels were exported from oil fields in central and southern Iraq through the port of Basra, while nearly 2 million b...
Iraq exports over 100 mn barrels of crude oil in March
Iraq exports over 100 mn barrels of crude oil in March
Source: IANS
2/04/2023 10:13:19 AM
Oil and gas stocks jump as Oil Minister says India increasing domestic oil and gas exploration Stocks related to the oil and gas industry were trading higher, as Oil Minister Hardeep Singh Puri has said that India, the world's third largest energy consumer, is increasing domestic oil and gas exploration, diversifying import basket, switching to alternate sources and using gas and green hydrogen as a pathway to energy transition and security. He said India is projected to contribute fourth of the world's energy demand growth in next couple of decades. GAIL (India) is currentl...
Oil and gas stocks jump as Oil Minister says India increasing domestic oil and gas exploration
Oil and gas stocks jump as Oil Minister says India increasing domestic oil and gas exploration
Source: Accord Fintech
23/01/2023 3:52:05 PM
India caps trading margin on resale of gas from deep sea fields India has capped trading margins on the resale of gas produced from deepwater blocks, according to a government order issued on Friday, to cut profiteering by traders and bring down prices. The federal government fixes the ceiling price of gas produced from the deepwater fields as the nation wants to increase the share of natural gas in its energy mix to 15% by 2030 from the current 6.2%. India allows producers to sell gas produced from deepwater fields, which are cost intensive and dif...
India caps trading margin on resale of gas from deep sea fields
India caps trading margin on resale of gas from deep sea fields
Source: Reuters
14/01/2023 10:46:04 AM
India to pitch for international biofuels alliance at G20 : Oil Minister Hardeep Singh Puri Oil Minister Hardeep Singh Puri has said India will at the upcoming G20 meeting plans to pitch for a global alliance on biofuels on lines of the highly-successful international solar alliance. India, the world's third largest oil-consuming and importing nation, is now pushing for greater use of biofuels extracted from sugarcane, cereals and agri waste as a means to cut reliance on crude oil. He stated ‘We will utilise our G20 presidency to try and set up an international biofuel all...
India to pitch for international biofuels alliance at G20 : Oil Minister Hardeep Singh Puri
India to pitch for international biofuels alliance at G20 : Oil Minister Hardeep Singh Puri
Source: Accord Fintech
30/11/2022 11:15:01 AM
Iraq exports over 100 mn barrels of crude oil in October  Iraq exported 104.83 million barrels of crude oil in October, generating $9.25 billion in revenue, the country's Oil Ministry has announced. The average price for Iraqi crude oil in October was 88.31 dollars per barrel, the Ministry said in a statement on Tuesday, citing statistics from the State Organisation for Marketing of Oil. A total of 102.7 million barrels were exported from oil fields in central and southern Iraq through the Port of Basra, while more than 2 million bar...
Iraq exports over 100 mn barrels of crude oil in October
Iraq exports over 100 mn barrels of crude oil in October
Source: IANS
2/11/2022 4:15:20 PM
Government navigated energy challenges well: Petroleum Minister Hardeep Puri Petroleum Minister Hardeep Puri on Friday said the government has navigated the global energy challenges very well, insulating the developing economy from the rising global crude and gas prices. "At present, five million barrels of petroleum is being consumed in our country every day and it is also increasing by three percent, which is higher than global average of around one per cent," he said in Jaipur at the three-day South Asian Geoscience Conference "Geo India 2022"...
Government navigated energy challenges well: Petroleum Minister Hardeep Puri
Government navigated energy challenges well: Petroleum Minister Hardeep Puri
Source: IANS
15/10/2022 10:17:19 AM
India's fuel demand jumps 24% year-on-year in May India's fuel consumption jumped 23.8% in May from a year earlier, continuing a recovery from a relatively low base in 2021 when the world's third biggest oil consumer was in the grip of a second wave of COVID-19. Consumption of fuel, a proxy for oil demand, totalled 18.27 million tonnes last month, according to data from the Indian oil ministry's Petroleum Planning and Analysis Cell. Last month's increase was the biggest year-on-year jump since April 2021. Consumption al...
India's fuel demand jumps 24% year-on-year in May
India's fuel demand jumps 24% year-on-year in May
Source: Reuters
11/06/2022 9:20:29 AM
Iraq exports 101 mn barrels of crude oil in April Iraq exported about 101 million barrels of crude oil in April, bringing in revenues of $10.55 billion, the Oil Ministry said. The average selling price for crude oil in April was $104.09 per barrel, according to a Ministry statement, citing statistics from the State Organization for Marketing of Oil, reports Xinhua news agency. A total of 98.1 million barrels were exported from oil fields in central and southern Iraq via the Port of Basra, and about 2.99 million barrels from the norther...
Iraq exports 101 mn barrels of crude oil in April
Iraq exports 101 mn barrels of crude oil in April
Source: IANS
2/05/2022 11:53:53 AM
India's fuel demand hit 9-month high in December, but virus threat looms India's fuel consumption in December scaled a nine-month peak, government data showed on Tuesday, although a fresh coronavirus wave may slow the gradual recovery of demand in the world's third biggest oil consumer. Fuel consumption, a proxy for oil demand, totalled 18.43 million tonnes, up 7.6% from November and 0.4% from a year before, data from the oil ministry's Petroleum Planning and Analysis Cell showed. But consumption was still about 3% lower than December 2019, short...
India's fuel demand hit 9-month high in December, but virus threat looms
India's fuel demand hit 9-month high in December, but virus threat looms
Source: Reuters
12/01/2022 10:22:40 AM
Government agrees to release 5 million barrels of crude oil from strategic petroleum reserves: Rameswar Teli Union Minister of State for Petroleum and Natural Gas Rameswar Teli has said that the government has agreed to release 5 million barrels of crude oil from its strategic petroleum reserves in consultation with other major global energy consumers including the USA, People's Republic of China, Japan and the Republic of Korea, in order to provide relief to citizens. The minister has stated the domestic price of crude is linked to international benchmarks of crude price. He said these bench...
Government agrees to release 5 million barrels of crude oil from strategic petroleum reserves: Rameswar Teli
Government agrees to release 5 million barrels of crude oil from strategic petroleum reserves: Rameswar Teli
Source: Accord Fintech
14/12/2021 2:33:37 PM