Page 2 - Petroleum Ministry
Govt wants Saudi Aramco to develop strategic petroleum reserve: Report
India, the world's third-biggest oil importer and consumer, imports over 80% of its oil needs and has built strategic storage at three locations in southern India
 "Govt wants Saudi Aramco to develop strategic petroleum reserve: Report")
Govt hikes domestic natural gas prices to $9.20 per mmBTu from Oct 1
The hike in prices is likely to hurt consumers as the gas distribution companies are expected to increase prices of CNG and PNG
 "Govt hikes domestic natural gas prices to $9.20 per mmBTu from Oct 1")
Multilateral development banks pledge upto $27 bn for India's green growth
The government commits to green hydrogen development, encourages collaboration with private sector as global demand for hydrogen is expected to reach 200 million tons by 2030
 "Multilateral development banks pledge upto $27 bn for India's green growth")
Gadkari pitches for 15% methanol-blended diesel to reduce logistics cost
Sees promise in Assam's methanol economy; has asked state's CM to explore possibility of converting normal to methanol trucks
 "Gadkari pitches for 15% methanol-blended diesel to reduce logistics cost")
Govt undertaking energy transition to achieve Net Carbon Zero by 2070: Puri
Hardeep Singh Puri said the government is "acutely aware" of the need for a just and stable energy transition
 "Govt undertaking energy transition to achieve Net Carbon Zero by 2070: Puri")
Looking to build smaller refineries to avoid land acquisition hurdles: Puri
Large project plans such as the 60 MMTPA West Coast refinery have stagnated
 "Looking to build smaller refineries to avoid land acquisition hurdles: Puri")
India's fuel price paradox: Global prices lower but pump rates still high
Global oil prices have slumped and India has access to larger amounts of discounted Russian crude oil, yet refiners are not passing on their savings to consumers
 "India's fuel price paradox: Global prices lower but pump rates still high")
India to become major exporter of green hydrogen in 15 years: Puri
Implementing one per cent sustainable aviation fuel in all domestic flights by 2030, would require 140 million litres of ethanol
 "India to become major exporter of green hydrogen in 15 years: Puri")
Half a dozen stalled refinery expansion plans come under PMO radar
With national fuel demand rising quickly, core team of officials to look into issues holding up planned refinery projects
 "Half a dozen stalled refinery expansion plans come under PMO radar")
Centre sticking to target of 5,000 compressed biogas plants by FY25
Announced in 2018, SATAT scheme has been able to establish only 46 CBG plants until now
 "Centre sticking to target of 5,000 compressed biogas plants by FY25")
Domestic gas price for April at $7.92, price for consumers capped at $6.5
The government on Thursday amended the domestic pricing model of natural gas in line with the recommendations of the Kirit Parikh committee on gas pricing
 "Domestic gas price for April at $7.92, price for consumers capped at $6.5")
LPG cylinder refills by PMUY beneficiaries woefully inadequate, shows data
More than 95.8 million gas connections have been released under PMUY as of February 2, 2023, reveals data available on the official PMUY website
 "LPG cylinder refills by PMUY beneficiaries woefully inadequate, shows data")
India's deepwater exploration has vast investment potential: Research
He also tweeted that "Could India be the licensing wildcard of 2023" and added that this also means there's alignment & agreement from PM's office down to DGH that more offshore exploration is needed
 "India's deepwater exploration has vast investment potential: Research")
Rs 35K cr for energy transition: Energy sector awaits disbursement details
No decision has been taken on how to utilise this money for green initiatives and the government is yet to come out with any guidelines too
 "Rs 35K cr for energy transition: Energy sector awaits disbursement details")
Govt working on policy for ethanol pumps, says Union minister Gadkari
Says he will meet with petroleum minister in next 15 days to discuss this
India's basket of crude rises 102% between Oct 2020-Oct 2022: Report
According to Petroleum Ministry sources, petrol prices stood at Rs 81.06 per litre in October 2020, however by October 2022, they had risen only 19.3 per cent to Rs 96.72 per litre
 "India's basket of crude rises 102% between Oct 2020-Oct 2022: Report")
Kirit Parikh panel recommendations: 'Remove caps on gas prices by 2027'
The committee has also recommended a ceiling price of $6.5 per mmBtu, which may be increased yearly by about $0.5 per mmBtu till 2027, Parikh said
 "Kirit Parikh panel recommendations: 'Remove caps on gas prices by 2027'")
Chennai-based Manali Petrochemicals acquires UK-based Penn Globe
Penn Globe is a market leader in foam control agents and chemical products
 "Chennai-based Manali Petrochemicals acquires UK-based Penn Globe")
India's gas target of 15% was only aspirational. Time to give it up?
While several bankers and analysts have projected the difficulty of reaching this number, it is important to figure out where the target of 15 per cent came from
 "India's gas target of 15% was only aspirational. Time to give it up?")
Domestic LPG cylinders to come with QR codes: Check benefits, other details
"All domestic gas cylinders will have QR code in the next three months", said IOCL chairman Shrikant Madhav
 "Domestic LPG cylinders to come with QR codes: Check benefits, other details")