India pays for Russian LNG imports in US dollar

India’s largest gas utility GAIL (India) Ltd continues to pay for the LNG it imports from Russia’s Gazprom in US dollars and will seek exchange rate neutrality in case payments are sought in any other currency such as Euro. GAIL has a deal to receive 2.5 million tonnes of liquefied natural gas (LNG) annually on a delivered […]

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Budget 2022: Industry urges the government to bring natural gas under GST

The government should bring natural gas under the Goods and Services Tax (GST) regime to realise Prime Minister’s vision for a gas-based economy and raising the share of the environment-friendly fuel in India’s energy basket, said a natural gas industry body, Federation of Indian Petroleum Industry (FIPI). Natural gas is currently outside the ambit of […]

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Indian Oil to set up a new crude pipeline at an investment of Rs 9,028 crore

Indian Oil Corporation (IOCL) is setting up a new crude oil pipeline system with a capacity of 17.5 million tonnes per annum (mtpa) from Mundra (Gujarat) to Panipat (Haryana). A company statement said Indian Oil will also build 9 crude oil tanks of 60,000 kilo litres each at Mundra, which, apart from meeting operational requirements, will also help in enhancing crude oil storage capacity […]

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