GAIL (India) will be the first Indian company to import shale gas after receiving a waiver from the US department of energy (DoE), whose permission is needed for oil and gas exports to countries th

Protests staged at various places in delta districts

Cadres of the CPI-affiliated Tamil Nadu Vivasayigal Sangam took out rallies and staged demonstrations at various places in Thanjavur, Tiruvarur and Nagapattinam districts protesting against the proposed coal-bed methane (CBM) project from the delta districts.

State-run Indian Oil Corporation (IOC) has claimed a technological breakthrough that could be a game changer for advancing use of bio-diesel in the country and ensuring ready acceptance of the fuel

Ennore Port will be able to lease 5.2 lakh sq m of land to a joint venture led by IOC for setting up a LNG storage and regasification plant at the port.

The project aims to maximise refinery margins at least by $1 a barrel

Chennai Petroleum Corp Ltd (CPCL), a subsidiary of IndianOil Corp Ltd, has got environment clearance for its Rs 3,350-crore expansion project at the Manali refinery near here. Proposed two years ago, the project aims to maximise the refinery margins at least by $1 a barrel. It will produce more high value distillates and enable the company to process more of the cheaper high-sulphurous crude.

Indian Oil Corporation (IOC) has invited bids for the construction of a 5 million tonne-a-year LNG terminal at Ennore in Tamil Nadu, which would be constructed at a cost of Rs. 4320 crore.

According to officials, IOC is seeking expression of interest (EoI) proposals for a lump sum engineering, procurement and construction (EPC) contract for the LNG import and re-gasification terminal. The last date for submitting EoI is April 16.

State govt assures the court it will compensate the loss to the oil companies

The Kerala high court on Thursday directed public sector oil companies -- Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Limited (HPCL) -- to supply diesel to the Kerala State Road Transport Corporation (KSRTC) at subsidised rate. In a petition filed by the corporation, a single bench opined that the stand of the oil companies was discriminatory. The state government has assured the court it would compensate the loss to the oil companies.

The state industry department has asked the Odisha Industrial Infrastructure Development Corporation (Idco) to formulate the draft memorandum of understanding (MoU) to be signed with Indian Oil Corporation Ltd (IOCL) after due consultation with district government pleader to avoid litigations.

The Petroleum and Natural Gas Regulatory Board (PNGRB), the upstream regulator for the petroleum sector, had already identified nine locations in the state such as Bhubaneswar, Khurda, Rourkela, Bhadrak, Jajpur, Anandpur, Baripada, Balasore and Kamakhyanagar for development of the city gas distribution network (CGD).

In a move that could give a fillip to India's unconventional gas production, the ministry of environment and forests has given the phase-III clearance for Essar Oil's Raniganj block in West Bengal. The company will now be able to drill up to 650 wells, compared with the current 135.

The clearances would help Essar Oil invest another Rs 2,500 crore to increase the number of drilled wells to 300 by the end of this year and also rise production to three million standard cubic metres of gas per day (scmd), up from around 60,000 scmd.

Oil-marketing companies (OMCs) have decided to increase petrol prices by Rs 1.40 per litre with effect from Friday midnight. With this, petrol price in Delhi would be Rs 70.46 a litre now.

The last price hike was on February 16. Between then and now, international petrol prices rose from $128.57 per barrel to $131 per barrel, which necessitated price revision, said an IndianOil Corporation (IOC) release. The rupee has also depreciated from Rs 53.43 to Rs 54.15 versus dollar in the same period.