Page-3 of Petroleum Sector

UAE’s ADNOC to store crude oil in India's Strategic Petroleum Reserves

February 11, 2016

The UAE’s national oil company Abu Dhabi National Oil (ADNOC) Company has agreed to store crude oil in India’s maiden Strategic Petroleum Reserves (SPRs) storage. It will be first of its kind deal in which India has partner with other ..

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Union Government releases Hydrocarbon Vision 2030 for North-East

February 10, 2016

Union Ministry of Petroleum and Natural gas (MoPNG) has released the Hydrocarbon Vision 2030 for north-east India. The Hydrocarbon Vision 2030 outlines steps to leverage the hydrocarbon sector for social and economic development of the north-east region. The states covered ..

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Prime Minister Narendra Modi dedicates Paradip Oil Refinery to nation

February 8, 2016

Prime Minister Narendra Modi dedicated Indian Oil Corporation’s (IOC’s) new state of the art refinery at Paradip in Odisha to the nation. It is overall IOC’s 11th refinery to be set up and has installed capacity of 15 million metric ..

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PM Narendra Modi inaugurates Brahmaputra Cracker and Polymer Limited

February 5, 2016

Prime Minister Narendra Modi has inaugurated the Brahmaputra Cracker and Polymer Limited (BCPL) at Lepetkata, Assam and dedicated the facility to the nation. It is the first ever petro-chemical plant located in the entire North-Eastern region of Indian. It has ..

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Union Government launches Sahaj Scheme for online booking of LPG cylinders

January 26, 2016

Union Government has launched Sahaj Scheme for online booking of LPG cylinders. It was launched by Union Minister for Petroleum and Natural Gas (Independent Charge) Dharmendra Pradhan as part of Government’s 2016-Year of the Consumers initiative. Features of Scheme Consumers ..

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ONGC buys 15% stake in Russia's 2nd-largest oil field from Rosneft

September 4, 2015

State-owned Oil and Natural Gas Corporation (ONGC) has bought a 15 per cent stake in Russia’s second-largest oil field Vankor from Rosneft for about 1.35 billion US dollars. In this regard, ONGC Videsh Ltd (OVL) the overseas investment arm of ..

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Union Cabinet approves MFP for Development of Hydrocarbon discoveries

September 2, 2015

Union Cabinet has approved Marginal Fields Policy (MFP) to aunction small and marginal unexploited hydrocarbon discoveries by state owned oil companies. Decision in this regard was taken by Union Cabinet Meeting chaired by Prime Minister Narendra Modi in New Delhi. Key ..

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CCEA gives nod to Differential Royalty Payment to states on crude oil production

August 27, 2015

The Cabinet Committee on Economic Affairs (CCEA) has approved the proposal for payment of differential royalty in respect of 28 discovered fields to the respective State Governments concerned. These 28 discovered fields were awarded by the Union Government to different ..

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India, Nepal ink MoU on Raxaul-Amlekhgunj oil pipeline

August 25, 2015

India and Nepal have inked a Memorandum of Understanding (MoU) for the construction of Raxaul-Amlekhgunj oil pipeline. This pipeline will be the first of its kind project between two neighbouring countries in the SAARC region in the oil and gas ..

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Union Cabinet approves MoU between India, Nepal for construction of petroleum pipeline

August 13, 2015

The Union Cabinet has approved a Memorandum of Understanding (MoU) between India and Nepal for construction of petroleum products pipeline from Raxaul (Bihar) in India to Amlekhgunj in Nepal. The MoU seeks to promote bilateral cooperation in the oil and ..

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