Page 2 - Oil Refinery

GST hike on E&P: Govt chalking out plan to compensate upstream oil firms

The oil ministry is considering a scheme to compensate upstream companies for higher costs after GST on E&P services rose to 18 per cent, raising concerns of stranded taxes

MEIL secures bid for India's first private strategic petroleum reserve

Megha Engineering & Infrastructures Ltd won the mandate to build and operate a 2.5 million metric tonne strategic petroleum reserves at Padur, Karnataka

Govt taps Uco Bank to manage payments for Nayara Energy after EU sanctions

The government has tasked Uco Bank with processing Nayara Energy's payments after EU sanctions cut the refiner off from domestic and global lenders

Sanctions-hit Nayara Energy seeks govt help for refinery repair gear

Refineries typically shut roughly every four years for maintenance that can last 30 to 50 days. Nayara last shut its refinery for maintenance in November 2022

Ukraine steps up attacks on Russian refineries, targets exports with drones

Kyiv says it aims to cut Russia's fuel and oil revenues, while Western allies warn such moves could disrupt global energy supplies

BPCL's ₹1 trn refinery project in Andhra gets EAC nod to prepare ToR

A committee under the Ministry of Environment and Forest and Climate Change has accorded permission to BPCL to prepare terms of reference (ToR) for its proposed 9 million metric tons per annum (MMTPA) Greenfield Refinery and Petrochemical Complex in Andhra Pradesh. According to the minutes of the meeting of the Expert Appraisal Committee (EAC) under the ministry held on August 29, the project cost would be Rs 1.03 lakh crore with a completion schedule of 42 months. Total Employment generated will be 3,400 for the Construction Phase (out of which 400 permanent and 3,000 temporary) and 3,750 Operational Phase (out of which 1250 permanent & 2500 temporary), it said. Bharat Petroleum Corporation Limited is proposing to set up the plant at Chevuru Village, Gudlur Mandal, Sri Potti Sriramulu Nellore District in AP. "EAC found the compliance status and justification satisfactory. After deliberations, the Committee recommended the project proposal for prescribing the following specific ..

Indian refiners scour globe for more oil ahead of Trump-Putin summit

India's state processors have bought large volumes of non-Russian crude this week for prompt September-October delivery

Despite US pressure, Russian oil tankers unload at Indian refineries

More tankers are poised to discharge another 2.2 million barrels of Urals in the coming hours

Fire at Iran's largest oil refinery kills 1 in country's southwest region

A fire at Iran's oldest and largest refinery in the southwest killed one person, state media reported Sunday. A leaky pump in an under-repair unit at Abadan refinery caused the fire on Saturday, killing a worker, according to the state-owned IRAN newspaper. Firefighters put out the blaze in two hours and operations remained unaffected, the report said. Iran's deputy parliament speaker, Ali Nikzad, confirmed Sunday that some workers were also injured, media outlets said. Abadan oil refinery, some 670 kilometres from the capital Tehran, began its operation in 1912. It is the biggest in the Islamic Republic, producing about 25 per cent of the country's fuel with more than 5,200,000 barrels of oil refined daily. Several fires have broken out across Iran over the past week at residential and commercial buildings, with authorities saying gas leaks and electrical short-circuiting were to blame. Iran is one of the world's major producers of oil, though sanctions by Western countries have

India criticises EU sanctions on Russia, including Gujarat refinery

The "Government of India considers the provision of energy security a responsibility of paramount importance to meet the basic needs of its citizens," said MEA

Oil refiners' May crude processing edges up 0.4% from a year earlier

India's fuel demand in May rose to its highest in more than a year, while crude oil imports reached a record high of 23.32 million metric tonnes

Indian private refiners dominate buying of Russian flagship oil grade

Reliance Industries Ltd. and Nayara Energy Ltd. alone took 45 per cent of Russia's shipments of the medium-sour variety

Indian Oil to complete Panipat, Gujarat refinery expansions by December

Targets $4 billion of capex in FY26, up from $3.71 billion last year

Foreign technical partners to have 1st right of refusal on oil finds: Puri

Petroleum minister cites ONGC-BP and Oil India-Petrobras deals as models where foreign technical partners will be given priority rights on oil or gas discoveries

Oil regulator mandates LNG terminal registration, scraps carrier rule

The oil regulator has made it mandatory for companies planning to establish new liquefied natural gas (LNG) import terminals or expand existing ones to obtain prior approval, but dropped the requirement to reserve a portion of the terminal capacity for third-party access. The Petroleum and Natural Gas Regulatory Board (PNGRB) has notified Registration for Establishing and Operating Liquefied Natural Gas Terminals Regulations, 2025. "These regulations lay down a robust framework focused on registration and oversight of LNG terminals, (and) promotion of competition among entities and prevention of infructuous investments," the regulator said, adding that the rules are a step in alignment with India's vision of increasing the share of natural gas to 15 per cent in the energy mix by 2030. The norms also seek to ensure equitable and adequate natural gas availability across the country, protection of consumer interests through improved access and supply reliability, and facilitate ...

US imposes sanctions on Chinese refinery accused of buying Iranian oil

The Treasury Department imposed sanctions Wednesday on a Chinese refinery accused of purchasing more than USD 1 billion worth of Iranian oil, saying the proceeds help finance both Tehran's government and Iran's support for militant groups. The sanctioned refinery in China's Shandong province received dozens of shipments of crude oil from Iran worth more than USD 1 billion, the Trump administration said. Some of the petroleum came from a front company for Iran's paramilitary Revolutionary Guard, U.S. authorities said. Officials also announced that several companies and vessels involved in the shipments were added to the sanctions list. The new penalties were imposed by the Office of Foreign Assets Control and follow earlier efforts by the administration to disrupt the flow of Iranian oil, which authorities say is carried by Iran's shadow fleet." The United States has already penalized dozens of individuals and vessels involved in the shipments. Any refinery, company, or broker that

Trump's Russian oil threat pushes Indian refiners to seek alternatives

Trump raised the prospect of so-called secondary tariffs on buyers of Russian oil if President Vladimir Putin refused a ceasefire with Ukraine

Saudi Aramco in talks to invest in planned refineries of BPCL, ONGC

Aramco is in separate talks to invest in Bharat Petroleum Corp's (BPCL) planned refinery in the southern state of Andhra Pradesh and a proposed Oil and Natural Gas Corp (ONGC) refinery

Unable to repatriate earnings, Rosneft looks for an exit from Nayara Energy

Reliance Industries, Adani Group, and JSW Group may be among potential buyers of Rosneft's 49.13% stake in Nayara Energy

Indian refiners turn to Latam, Africa to replace Russian oil in Feb: Data

The South Asian nation became the biggest buyer of Russian seaborne oil sold at a discount after Western nations imposed sanctions on Moscow