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BPCL Sells its First Low Sulphur Diesel Cargo for Export

Date : Oct 17, 2017

Indian oil refiner Bharat Petroleum Corporation Limited sold a low sulphur diesel cargo through an export tender for the first time as its refineries upgrade units and due to higher inventory of the fuel, three industry sources said on Monday. The state-owned refiner, which was once a net importer of diesel, is typically well-balanced with its diesel stocks and rarely ships the fuel out of the country.

 

A spike in domestic inventory is also contributing to the rare exports of the fuel, one of the sources familiar with the matter said. "Diesel demand in September was more than expected, but in October it's do...

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Battery Storage Costs to Decrease Up to 66pc by 2030 – Irena

Date : Oct 17, 2017

The cost of battery storage for stationary applications could fall by up to 66 per cent by 2030, according to a new report published by the International Renewable Energy Agency (Irena).

 

An intergovernmental...

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Adnoc Launches Unified Brand for its Subsidiary Companies

Date : Oct 17, 2017

The Abu Dhabi National Oil Company (Adnoc) has launched its new unified brand, bringing together its subsidiary companies under one common identity that will highlight the scale of its business, the size of its contribution to the...

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Aramco Says $2trn Listing Plan on Track for Next Year

Date : Oct 17, 2017

Saudi Aramco has dismissed reports that it is considering shelving plans for the world’s biggest ever flotation, with the state-owned oil company saying the $2 trillion listing was on track for next...

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RIL Exits Myanmar Blocks, Gives Up Last Conventional Oil & Gas Asset Abroad

Date : Oct 17, 2017

Mukesh Ambani-led Reliance Industries Ltd (RIL) has exited its last overseas conventional oil and gas assets by relinquishing two blocks in Myanmar.

 

However, the company still holds its interest in two shale...

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Iraqi Forces Capture NOC

Date : Oct 17, 2017

Iraqi armed forces have reportedly captured the headquarters for the North Oil Company (NOC), northwest of Kirkuk, from Kurdish forces, without fighting.

 

A Kirkuk-based official told Reuters that the...

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Saudi Aramco-Mitsubishi Hitachi Inaugurates a Gas Turbine Facility

Date : Oct 16, 2017

Saudi Aramco has inaugurated a gas turbine facility under a strategic partnership with Mitsubishi Hitachi.

 

“The inauguration of a maintenance, repair, and overhaul (MRO) facility for gas and steam...

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Well-Centric Appoints Gary Smart as New CEO

Date : Oct 16, 2017

Well Centric, a leading independent specialist operating in the well integrity and production technology sectors and part of FrontRow Energy Technology Group, has announced the appointment of Gary Smart as its new chief...

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RIL Exits from Overseas Oil and Gas Blocks

Date : Oct 16, 2017

Reliance Industries has exited the last of its overseas oil and gas assets after it relinquished two blocks in Myanmar.

 

"Relinquishment of Myanmar Block M17 and M18 on completion of study / others...

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Crude Oil Price Jumps on Fears of New Iran Sanctions, Iraq Conflict

Date : Oct 16, 2017

Oil markets jumped on Monday on concerns over potential renewed U.S. sanctions against Iran as well as conflict in Iraq, while a falling U.S. rig count supported prices there.

 

Brent crude futures, the...

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TAPI Gas Pipeline Expected to Reach Afghan Border by January 2018

Date : Oct 17, 2017

Afghan Ministry of Mines and Petroleum said on Sunday that it is expected that the Turkmenistan–Afghanistan–Pakistan–India (TAPI) gas pipeline which is being built in Tukmenistan will reach the Afghanistan border in Herat by January.   The ministry said that initial work has begun to launch the project in Afghanistan. “When the pipeline arrives at the Herat border the Afghanistan government will start work on the following important works, first it will conduct technical ground and air surveys and more importantly, the route that the pipeline runs through will be cleared of mines,” said mines ministry spokesman Abdul Qade...

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Fourth Train Complete at CEPL’s Sabine Pass LNG Plant

Date : Oct 16, 2017

Cheniere Energy Partners LP said Friday that the fourth train at its Sabine Pass liquefied natural gasplant was substantially complete, boosting output from the first LNG export terminal in the United States by a third. LNG plants are...

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PDO’s Miraah Project on Track

Date : Oct 16, 2017

GlassPoint Solar, a leader in solar for the oil and gas industry, has announced the successful completion of the first block of its giant Miraah solar plant, located at the Amal oilfield operated by Petroleum...

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US Giant GE Offers to Set-up Gas-Based Power Plant in Punjab

Date : Oct 13, 2017

US giant General Electric has offered to set up a 2,400 megawatt gas-based power plant in Punjab, offering electricity at Rs 4.81 per unit only. The offer was made by GE to Chief Minister Amarinder Singh during a meeting here,...

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Malaysia’s Petronas May Exit Iraq’s Majnoon Oil Field

Date : Oct 13, 2017

Malaysia’s Petronas has reportedly decided to withdraw from its 30-percent participating interest in Iraq’s giant Majnoon oil field.

 

According to the source, the decision came as the company...

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Cabinet Approves MoC on India-Japan Flexible LNG Market

Date : Oct 12, 2017

The Union Cabinet chaired by Prime Minister Narendra Modi has approved the signing of the Memorandum of Cooperation (MoC) between India and Japan on establishing a liquid, flexible and global LNG Market.

 

The...

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Saudi Aramco 'Interested' in Investing in Indian West Coast Refinery

Date : Oct 12, 2017

In a bid to expand its footprint in the growing Indian oil sector, the world’s biggest oil company, Saudi Aramco, has expressed interest to capture a significant portion of the USD 300-billion investment opportunity announced by...

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PSPCL Should Pay Coal Washing Charges for NPL’s Rajpura Thermal Plant: Supreme Court

Date : Oct 12, 2017

In a blow to the Punjab State Power Corporation Limited (PSPCL), the Supreme Court has asked the state-run agency to pay Rs 1,100 crore to the Nabha Power Limited (NPL) as coal washing charges. NPL operates the Rajpura thermal power...

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Gujarat Government Cuts VAT by 4% on Petrol, Diesel

Date : Oct 11, 2017

The BJP-led Gujarat government on Tuesday announced 4-per cent cut in the Value-added Tax (VAT) on the retail price of petrol and diesel responding to the Centre's suggestion amid escalating fuel...

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EIB Partners ISA to Provide €800 Mn in Funding to Indian Renewable Energy Sector

Date : Oct 11, 2017

The European Investment Bank (EIB) will be providing €800 million (~₹61.3 billion) in funding for renewable energy investment across India. This includes renewable energy financing in partnership with the Indian Renewable...

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