Page 6 - Oil Refinery

Indian oil export basket in FY23 was most diversified ever, shows data

Israel, Brazil, and South Africa broke into top 10 list of destinations for Indian refined petroleum products

No initiation of refinery project at Barsu without locals' consent: Maha CM

Maharashtra Chief Minister Eknath Shinde on Friday said the proposed refinery project at Barsu village in Ratnagiri district will not be implemented without the local people's consent, and appealed for calm in the area. The situation in the village, where protesters who are opposing the refinery have gathered, was peaceful, he claimed while speaking to reporters here. Earlier in the day, police used tear gas in Barsu and Solgaon villages in Rajapur tehsil to disperse the protesters and detained Shiv Sena (UBT) MP Vinayak Raut. Shinde said he spoke to Ratnagiri collector and superintendent of police as well as district guardian minister Uday Samant, and the collector told him that there was no lathi (baton) charge at the site. "A former chief minister himself had suggested the Barsu site to the Union government. After losing the CM's post, he is opposing the project. One can not have such double standards," he said, apparently referring to Shiv Sena (UBT) leader Uddhav Thackeray .

How Russian oil is still powering Europe's cars with help from India

Europe's refined fuel imports from India are set to surge above 360,000 barrels a day, edging just ahead of those of Saudi Arabia, Kpler's data show

As oil refinery fuels protests, Maha minister says site suggested by Uddhav

Amid protests against a proposed oil refinery in Maharashtra's Ratnagiri district, state Industries Minister Uday Samant on Tuesday said the current site for the mega project was suggested by then-CM Uddhav Thackeray, while the Opposition urged the government to stop soil survey work and be sensitive in handling the situation arising out of the agitation. Samant's statement came in the backdrop of protests by local people in the coastal district against the soil survey work for the multi-billion dollar project over environmental damage concerns. In a fresh agitation, more than 30 women were detained by the police after they protested by lying on the road to stop government vehicles from entering the project site at Barsu village, around 400km from Mumbai, while the Opposition Shiv Sena (UBT) demanded an immediate end to atrocities on protesters. Samant alleged "misunderstandings" are being deliberately created about the project for political mileage and slammed the "politics of doub

State refiners post 8.4% rise in gasoil to 3.45 mn tonnes in April 1st half

Indian state refiners posted an 8.4% rise in sales of gasoil to 3.45 million tonnes in the first half of April compared with the same period last month, preliminary sales data showed

Oil India hits 8-month high on highest-ever quarterly profit in Q3FY23

In the past six months, Oil India soared 26 per cent, as against 3 per cent rise in the S&P BSE Sensex

Greenko lowest bidder for first green hydrogen tender by oil refinery

Numaligarh Refinery is setting up a plant with a capacity of 300 kg per hour

Indian refiners pay traders in dirhams for Russian oil, says report

Indian refiners and traders are concerned they may not be able to continue to settle trades in dollars, especially if the price of Russian crude rises above a cap imposed by the Group of Seven nations

BPCL plans to shut Bina refinery in June for a month for maintenance

The state-run refiner also plans to shut half of its 240,000 bpd Mumbai refinery in western India for three to four weeks in September-October for maintenance

HPCL to operate Vizag refinery at expanded capacity of 15 MTPA from Jun-end

India, the world's third biggest oil importer and consumer, buys over 80% of its oil needs from overseas

Guyana expects proposal from India for long-term crude oil purchases

Guyana and India in 2021 failed to reach an agreement for direct sales of Guyana's sweet crude to Indian state refiners

Refining troubles: Huge sanctions looming for fuel that powers the world

India's role in supplying Europe is notable because it has become one of the biggest buyers of discounted Russian crude since the war broke out

Deal reached for sale of Russian-owned refinery plant in Italy's Sicily

Russian oil company Lukoil said Monday that it has reached an agreement for the sale of a refinery plant in Sicily, where thousands of workers have been fearing job losses due to the European embargo on Russian oil. A company statement said that the sale of the ISAB Srl refinery to G.O.I Energy is planned to be completed by the end of March pending various approvals by authorities, particularly the Italian government. The refinery employs 3,500 people and indirectly supports the jobs of 6,500 others. The workers at the refinery protested in late 2022, fearing for their future as a consequence of the embargo imposed because of Russia's war against Ukraine. About 20% of Italy's oil is refined at the plant. Lukoil said that under the agreement the new owner will retain jobs and ensure health and safety conditions. It noted that G.O.I. Energy investors own a majority stake in Bazan Group, which operates Israel's largest integrated refining and petrochemical facility. No financial deta

Nayara Energy reports significant progress on its entry into petrochemicals

Nayara Energy Ltd, India's second-largest private oil refiner, on Wednesday said it is on track for entry into the petrochemicals sector with the majority of work being completed on a propylene recovery unit. Nayara, which operates a 20 million tonne-a-year oil refinery at Vadinar in Gujarat, has adopted a phase-wise asset development strategy to enter into the petrochemicals sector. "Under Phase-1 of the project, Nayara is setting up a 450-kilo tonne per annum polypropylene plant at its Vadinar refinery in Gujarat - a propylene recovery unit along with upgrades to the existing FCC Unit (Fluidized Catalytic Cracking Unit) and a polypropylene unit (PPU)," the firm said in a statement. Stating that it is on track with the projects, the firm said it is well positioned to make a strong energy into this high growth segment given that it is located in the largest petrochemical consumption region of the country and its proximity to a jetty. "Phase-1 project development has achieved over 8

India may split planned mega refinery into several refineries: Reports

Delays in acquiring a 15,000-acre land parcel have almost stalled the project, initially planned for 2025, and boosted costs by 36% to $60 billion, as per estimates made in 2019

Core sector output growth slows to 20-month low of 0.1% in October

Output accelerated by only 0.1% in October; 4 of 8 core industries reported production contraction

Pakistan convinces Saudi Arabia to revive $12 billion oil refinery: Report

Pakistan has persuaded Saudi Arabia to revive a USD 12 billion state-of-the-art deep conversion refinery and a petrochemical complex in the country, a project that was shelved by the oil-rich Gulf Kingdom during the Imran Khan regime, a media report said on Monday. The development comes ahead of the visit of a delegation from Saudi Arabia led by Crown Prince Mohammed bin Salman to Pakistan next month. The Pakistan government has made efforts to persuade Saudi Arabia to honour the MoUs signed three years ago and invest in Pakistan, The News reported. In 2019, Crown Prince Mohammed visited Pakistan when Khan was the prime minister, and signed MoUs for an investment of USD 21 billion, including the project of a deep conversion refinery and petrochemical complex with an investment of USD 12 billion. Subsequently, when Khan tried to cobble up a bloc of Islamic countries with the consent of Turkey and Malaysia, outside the ambit of the Saudi-dominated Organisation of Islamic Cooperation

OIL interested in picking up petroleum mining lease in Jaisalmer, Bikaner

OIL produces heavy oil and natural gas at Tanot Dandewala and Baghewala in the state, and is exploring PML for five more locations in the state.

Indian Oil Corporation sets up new unit for treasury operations

India's top refiner Indian Oil Corp has set up a subsidiary to pool the funds of its overseas units in order to meet capital and trade finance needs, it said in a statement on Thursday

No decision taken on oil refinery plant location in Maharashtra, says Puri

Petroleum Minister Hardeep Singh Puri on Saturday said the Centre has not taken any decision to set up an oil refinery project in any specific area in Maharashtra. Speaking to reporters in Chandrapur, he said the state government will have to discuss the project's location with the Central government. He alleged the erstwhile government (in Maharashtra) had allocated land for the project but later refused under the pretext of changing the location, which derailed the project. "Following this, the state (Maharashtra) and the country faced huge economic losses in the last two-and-a-half years," Puri alleged. Puri was apparently referring to the Ratnagiri Refinery and Petrochemical project, proposed to be built at Nanar village in Ratnagiri district in coastal Konkan, but it was scrapped before the 2019 polls at the insistence of Shiv Sena, the then alliance partner of BJP. Establishing a 60-million metric tonne per annum oil refinery will be the biggest plant in the world, Puri ...