Private sector oil companies in India seek to be part of LPG subsidy transfer mechanism

To get a slice of the 20-million-tonne-plus annual sales of packaged domestic liquefied petroleum gas (LPG), parallel marketers, including Reliance Industries (RIL), Nayara Energy and Total, have asked the government of India to allow them to have a level-playing field with the state-run oil marketing companies (OMCs). The companies recently met petroleum and natural gas […]

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India set to overtake China to become the second largest oil consuming country: Wood Mackenzie Report

India will surpass China to become the second largest oil demand growth centre globally in 2019 on back of buoyant auto fuel and LPG consumption, research and consultancy group Wood Mackenzie said. In a report, Wood Mackenzie said India’s oil demand growth recovered strongly in 2018, overcoming the aftermath of the implementation of Goods and […]

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India helps Mongolia launch the construction of its first oil refinery

Mongolia launched construction of its first oil refinery on Friday, a long-awaited project that is funded by India and designed to end the country’s dependence on Russian fuel. The ground-breaking ceremony was attended by Mongolian Prime Minister Khurelsukh Ukhnaa and Indian Minister of Home Affairs Rajnath Singh. The refinery, in southern Dornogovi province will be […]

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Daily Masala

Here is what others are talking about this morning: Oil prices fall on surprise rise in U.S. inventories, high OPEC output Metals slip as patchy US economic reports spur profit-taking Gold holds near 7-week high on weak U.S. economic data India refiners outshine Asia peers with new output, rising local demand Indonesia’s palm oil exports […]

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