Indian Oil Refiners

The Indian cancellations could limit the rally in Malaysian palm oil prices, although they could also support soyoil prices as some refiners shift to soyoil

State-owned Bharat Petroleum Corporation Ltd's (BPCL) proposed 9 million tonnes a year oil refinery-cum-petrochemical complex in Andhra Pradesh is likely to cost around Rs 95,000 crore, its Director (Finance) Vetsa Ramakrishna Gupta said. This will be India's costliest refinery project so far. Hindustan Petroleum Corporation Ltd (HPCL) will this year commission a similar size unit at Barmer in Rajasthan at a cost of Rs 71,814 crore. In Modi government's first term, a mega 60 million tonnes oil refinery and petrochemical complex was proposed at Ratnagiri district of Maharashtra at a cost of Rs 3 lakh crore but the project hasn't seen the light of the day because of land acquisition issues. In an investor call with analysts post announcement of third quarter earnings, Gupta said the BPCL board last month approved an expenditure of Rs 6,100 crore on pre-project activities such as land acquisition and commissioning of detailed project report (DPR) and certain feedstock studies. "Roughly

Russian oil accounted for more than a third of India's imports last year, but US sanctions are tightening supply, pushing the buyer back to traditional Middle East sources

Russian oil exports will be hurt severely by the new sanctions, which will force Chinese independent refiners to cut refining output going forward, two Chinese trade sources said

Move aimed at ensuring a major captive market for its crude oil, even as Indian refiners mull reducing the share of expensive Saudi grades sourced under term contracts

A US official involved in compliance said 'General Licence 93' allowed India to receive vessels owned by a sanctioned entity, Russian state behemoth Sovcomflot, which ships the bulk of India's oil

Brent crude prices fell to a 33-month low last week amid oversupply concerns

With inflation easing and elections around the corner, speculation is growing that petrol could become cheaper by Rs 10 per litre and diesel by Rs 6-8 per litre

Reliance is unlikely to share sensitive information with the state oil refiners given they're competitors in the domestic fuel market

Even after reduction, discounts on Russian crude oil may be contributing $1.5 to $2.5 a barrel to refiners' gross refining margins

Manufacturing unicorn Zetwerk on Thursday said it has bagged the largest order from India Oil Corporation to set up over 1,400 fast chargers for electric vehicles across the country. Indian Oil has floated a tender for 6,000 chargers, in which 40 EV suppliers across the country participated. "Zetwerk has secured an order with Indian Oil Corporation Limited (IOCL) to set up EV fast chargers across India through competitive bidding which was participated by more than 40 leading EV suppliers across the country," the company said in a statement. Zetwerk said that it has bagged the largest order from the public sector oil marketing company. "These charging stations will be deployed as per requirement across IOC outlets, providing a seamless charging experience. By conveniently locating these stations in major cities, we will enable the widespread adoption of EV mobility and drive the nation towards a sustainable future," Zetwerk Business Head - Renewables Abhay Adya said. Under the ...

India is the world's third-largest crude importer and is forecast to be the leading driver of global consumption growth this decade

Overall capex in the oil sector up by 18.6 per cent to Rs 1.33 trillion

Enhanced enforcement of sanctions by Western powers may increase procurement costs and reduce the appeal of discounted Russian crude

State-run Bharat Petroleum Corp and Hindustan Petroleum Corp aim to end net carbon emissions from their operations by 2040, and Indian Oil Corp has set a target for 2046

But Venezuela's oil output has been volatile, limiting what it can offer for exports

India turning into a magnet for sanctioned oil after its refiners started buying Russian oil last year at deep discounts

It is considered a dirty fuel and has often been banned from use in the national capital and other cities around the world. But now a Monaco-based firm is offering Indian refiners a patented technology to emulsify fuel oil with water that helps cut down on emissions as well as gives better energy yield. FOWE Eco Solutions (FOWE) says a process known as cavitation using its Cavitech device allows for emulsification of fuel oil, also known as furnace oil, with fresh water on land or onboard a vessel. This process does not require any additives or further processing. The result is a considerable reduction in particulate matter, its chief operating officer Hemant Sondhi said. Emissions of NOx, the main greenhouse gas contributors, are significantly reduced and fuel efficiency is improved. "We have successfully tested our patented technology to emulsify fuel oil, which is also known as furnace oil, with 10 to 15 per cent water," he said. "The FOWE emulsified fuel gives better energy yiel

Import of this grade of crude jumps 14% in a month to record high

In the latest quarter, revenue from operations reduced by 35 percent to Rs 17,985 crore year-on-year from Rs 27,449 crore in the year-ago quarter