crude oil

Hydrocarbon Exploration and Licensing Policy (HELP)

May 6, 2016

On March 10, 2016 the Hydrocarbon Exploration and Licensing Policy (HELP) was approved by the Union Cabinet. HELP aims to provide for a uniform licensing system and to provide single licensing to cover all hydrocarbons such as oil, gas, coal bed methane etc. Objectives of HELP To...

Strategic Oil Reserves of India

December 25, 2015

Currently, India depends on imports for more than 80% of its crude oil needs. Most of these imports come from Middle East. The demand for crude oil is unlikely to go down in near future. Further, since India is also a regional refining hub, we import more...

Crude Oil Pricing in pre-OPEC Era

November 6, 2015

The world oil prices were first administered by the large multinational oil companies in the 1950s and 1960s in the name of a 1927 Red Line agreement and one more such agreement.  At that time, the international oil industry outside the United States, Canada, the USSR and...