IOCL, BPCL, HPCL to build LPG pipeline from Gujarat to UP

State owned oil and gas company Indian Oil Corporation Ltd (IOCL) said that it has entered into a joint venture with Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) for the implementation and operation for a 2,757-km long LPG pipeline from Kandla, Gujarat to Gorakhpur, Uttar Pradesh. While Indian Oil Corporation will […]

Sheikhpura, Jamui, Deoghar included in tomorrow’s city gas bidding

GAIL India, the country’s largest pipeline operator, said the government has decided to include two additional districts of Bihar — Sheikhpura and Jamui — and one more district in Jharkhand — Deoghar — in the 10th round of bidding for setting up of city gas distribution networks. The ninth round of bidding, for 86 ‘geographical […]

Indian Oil books 60% of Adani’s LNG terminal capacity at Dhamra

Adani Ports and Special Economic Zone said it signed a long term agreement with Indian Oil Corporation (IOC) to provide Liquefied Natural Gas (LNG) regasification services on a use-or-pay basis at its upcoming LNG import terminal at Dhamra in Odisha. As per the contract, IOC has booked 3 million tonnes per annum (MTPA) regasification capacity […]

IOCL, HPCL, BPCL open to buying petrol pump land – Pradhan

State-owned oil marketing companies, Indian Oil, Hindustan Petroleum and Bharat Petroleum, are open to buying the land on which their retail outlets are located to offset rising real estate prices, oil minister Dharmendra Pradhan said. Pradhan was responding to a concern about how rising real estate prices in cities and towns are leading to landlords […]

ONGC, IOCL, BPCL acquire 10% in Abu Dhabi oil block

A consortium of companies, including ONGC, Indian Oil Corporation Ltd and Bharat Petroleum Corporation Ltd, have taken a 10% stake in Lower Zakum Concession. The “participation fee” paid by the Indian consortium is 2.2 billion UAE dirhams (Rs 3,850 cr). The onshore field is located inside the UAE and is owned by the Abu Dhabi […]

Reliance, Essar triple petrol outlets in 2 yr, continue to expand fast – India Ratings

Private players such as Reliance Industries and Essar — owned by Russia’s Rosneft — have tripled the number of petrol and diesel outlets in India in the last two years, and could double their market share by implementing their ongoing expansion plans, India Ratings said. From practically nothing in 2014, private players including Shell and […]

DIESEL PRICE CUT: After Airtel & Idea, Reliance to target IOCL, HPCL, BPCL?

Reliance Industries, which started giving a discount of Re 1 on every liter of diesel sold through its pumps in January, has now started advertising the offer in Kerala.┬áThe discount was first noticed in January in North and West Indian towns. The move was, at the time, not taken very seriously by players such as […]

No cash? Now pay for your gas cylinder via Freecharge

Wallet provider Freecharge, one of the first to support the new UPI platform, has now tied up with Indian Oil to let customers make payments for gas deliveries via a PIN number. Once the pin number is provided to the gas delivery boy, the amount will be deducted from your Freecharge account. The pilot project […]

India to acquire stake in Russian oil fields, to invest US $3.2 billion

Indian government approved the acquisition of stakes in two Russian oil fields for US $3.2 billion. A consortium of Oil India Limited, Indian Oil Corporation Limited and Bharat Petro Resources Limited (BPRL) will acquire 23.9 percent stake in JSC Vankorneft and 29.9 percent stake in LLC Taas-Yuryakh from Rosneft Oil Company, the National Oil Company […]