Page 4 - Oil Refinery

BPCL to invest Rs 1,400 cr to set up sustainable aviation fuel facilities

The company operates three refineries located in Mumbai, Kochi, and Bina (Madhya Pradesh), with collectively refining capacity of 35.3 million metric tonnes per annum

Haldia Petrochemicals signs 10-yr pact with QatarEnergy for naphtha supply

'Deal reaffirms commitment to be part of India's economic growth trajectory,' says Qatar's energy minister

Bharat Petroleum seeks Rs 31,000 crore loan for Bina refinery expansion

SBI Capital Markets has been appointed to secure the loan required for Bina refinery expansion, which is estimated to cost nearly Rs 20,000 crore

State-owned BPCL planning to set up new refinery worth Rs 50,000 crore

The state-run oil marketing company will invest around Rs 50,000 crore in the project and is currently assessing locations in three states - Andhra Pradesh, Uttar Pradesh, and Gujarat

ONGC seeks technical help to raise oil, gas output at Mumbai High field

State-owned Oil and Natural Gas Corporation (ONGC) is seeking help from an internationally-proven technical service provider to raise oil and gas production from its flagship but old and maturing Mumbai field in the Arabian Sea. The firm has floated an international tender to identify the service provider who will help raise production from the field, ONGC said in a post on X. "The giant multi-layered Mumbai High field, which commenced production 48 years ago in 1976, is currently in its mature stage of production and ONGC has implemented a number of schemes in this field to improve production," it said. "As a custodian and operator of Mumbai High field, ONGC is keen to collaborate with a global technical service provider. The service provider would be contracted for 10 years, extendable by another five years." Mumbai High field lies 160 kilometres off the coast of Mumbai and produces about 38 per cent of India's oil production. While it hit a peak output of 40,000 barrels per day

China's annual oil refinery output falls for first time in 20 months

The 3.3 per cent fall was the first year-on-year decline since August 2022

Chennai Petroleum sees two-year delay in building 180,000 bpd refinery

The company recently changed the capital structure of the joint venture building the project, with its parent company Indian Oil Corp controlling a 75% stake and Chennai Petroleum the remainder

Brokerages raise targets on RIL stock post Q4; check latest prices here

The bullish outlook stems from Reliance Jio's potential tariff hikes, given the competitive landscape, along with slow but steady improvement in the oil-to-chemical (O2C) vertical

Haldia Petchem planning $10 bn oil-to-chemical project in south India

The company wants to boost profits by locally producing specialty chemicals

Chennai refinery expansion cost goes up over Rs 3,600 crore, says IOC

State-owned Indian Oil Corporation (IOC) on Thursday said it will raise its stake in the joint venture building a 9 million tonnes refinery at Chennai to 75 per cent after the cost to the project escalated by over 12 per cent. Originally, IOC and its subsidiary Chennai Petroleum Corporation Ltd (CPCL) were to hold a 25 per cent stake in the joint venture that was to build a new unit adjacent to the existing refinery of CPCL. The remaining 50 per cent equity was to come from financial investors. In a stock exchange filing, IOC said its board at its meeting on Thursday "accorded approval for the revision in cost of the project from Rs 29,361 crore to Rs 33,023 crore". The cost increased Rs 3,662 crore or 12.5 per cent. "The Board has also accorded approval for revision in the capital structure of the joint venture with 75 per cent equity from IndianOil and 25 per cent equity from CPCL," it said. The company however did not give reasons for the cost escalation. IOC said its board ha

More than 20% of global oil refining capacity is at risk of closure

About 30 European refineries have already shut down since 2009, data from industry body Concawe shows, with nearly 90 still in operation

Indian refiners refuse to take Russian oil delivered on Sovcomflot tankers

Private and state-run processors including the biggest - Indian Oil Corp. - have stopped taking cargoes if they're on Sovcomflot tankers

Despite shrinking discounts, Russian crude flow to India may continue

Russia's share of Indian crude imports rose to 32 percent in February after recent dips

HPCL to start Rajasthan refinery by end-December using mostly Mideast oil

The state-run company expects the refinery to reach full capacity in about a year's time, Bharatan told Reuters in an interview

Mongolia's India-assisted refinery on track for 2026 launch: Ambassador

Mongolia's ambassador to India Dambajav Ganbold has said the India-funded greenfield oil refinery project in South Gobi is on track and will be operational by 2026. However, he acknowledged some delays from the Indian side in delivering products for the refinery plant. "Of course, there are some delays from the Indian side in delivering the products, but overall, the project is progressing well," he told PTI. "It is crucial for our relations, and we eagerly look forward to its completion." With a USD 1.2 billion line of credit announced by India during Prime Minister Narendra Modi's visit to Mongolia in 2015, the refinery's construction has been delayed by 1.5 years due to COVID-19. "The work on the refinery project is going well. Because of COVID, it has been delayed by one and a half years. We believe that it will be operational by 2026," Ganbold said. The refinery aims to reduce Mongolia's reliance on Russian oil imports. Upon completion, it will have a capacity of 30,000 barre

Energy boost: ONGC, IOC, other oil PSUs to invest Rs 1.2 trn in FY25

ONGC, IOC and other oil PSUs will invest about Rs 1.2 lakh crore in the coming fiscal starting April 1 in oil and gas exploration, refineries, petrochemicals and laying pipelines to meet the needs of the world's fastest-growing energy consuming nation. The investment proposed in 2024-25 is 5 per cent higher than Rs 1.12 lakh crore spent by the state-owned oil firms in the current fiscal year that ends on March 31, according to Budget 2024-25 documents. Oil and Natural Gas Corp (ONGC) has a planned capital spending of Rs 30,800 crore in the next financial year. This expenditure in finding new reserves of oil and gas and bringing to production discoveries it has already made, is slightly higher than Rs 30,500 crore capex in 2023-24 fiscal (April 2023 to March 2024). It is developing discoveries on both east and west coasts of the country. The top oil producer's overseas arm, ONGC Videsh Ltd (OVL) will invest 68 per cent more at Rs 5,580 crore in 2024-25 in oil and gas operations abro

State refiners may face margin pressure as cheap Russian oil imports dip

Reduction in discounted Russian supplies will affect gross refining margins, as cheaper crude contributes to the profits of Indian Oil, Bharat Petroleum and Hindustan Petroleum

World on cusp of last big refining boom as India starts capacity expansion

Expansions in the West are non-existent," said Giovanni Serio, Vitol Group's head of research

Oil regulator PNGRB launches drive to increase piped gas adoption

Oil regulator PNGRB has launched a two-month long nationwide drive to increase adoption of piped natural gas as a cooking fuel in household kitchens in an attempt to cut dependence on imported fossil-fuels. "The Petroleum and Natural Gas Regulatory Board (PNGRB) along with city gas distribution entities will run a campaign from January 26 to March 31, aimed to promote the adoption of piped natural gas (PNG) among households and to expand PNG consumer base across a broader segment of the population," it said in a statement. While PNG has gained currency in the last few years after PNGRB expanded city gas networks to most parts of the country, sizable households continue to use either LPG or conventional fuels like firewood and cow dung for cooking. While India is about 50 per cent dependent on imports to meet cooking gas LPG needs, use of conventional fuels is considered a health hazard. PNG offers a viable alternative. It is convenient as it does not require ordering for refills ..

Indian Oil, Bharat Petroleum set to ask for extra Saudi oil after price cut

Indian Oil Corp, the country's top refiner, and Bharat Petroleum Corp, are looking at lifting an additional 1 million barrels of oil each from Saudi Aramco in February, the sources said