BPCL privatisation: Russia's Rosneft keen to bid for state-owned refinery; meets with Oil Minister Dharmendra Pradhan
As on 31 March, BPCL reported cash and cash equivalents of around Rs 5,300 crore, against Rs 10,900 crore of debt maturing over the next 15 months.
Reliance Industries signs pact with Abu Dhabi National Oil Company for development of chemical facility
Reliance Industries and ADNOC will evaluate the potential creation of a facility that manufactures ethylene dichloride or EDC adjacent to ADNOC's integrated refining and petrochemical site in Ruwais, Abu Dhabi
The O2C business includes Reliance's refining and petrochemical divisions, and its 51% stake in its fuel marketing business.
India is looking at cutting capacity at its biggest oil refinery to match lower fuel demand projections and contain costs which jumped to $60 billion due to meeting stringent environment norms and relocation of the plant, top officials said
India raises cost of refinery project with Aramco by more than 36% after farmers' protest forces relocation of plant
The project cost at the signing of a deal with Saudi Aramco in 2018 was pegged at $44 billion.
India will soon have the capacity to store crude oil in underground caverns that it can dip into to meet 90 days of requirements in case of an emergency.
The Narendra Modi government’s plan to build two new caves of strategic petroleum reserves in Odisha and Karnataka will take crude oil stock to 87 days of demand by 2020.
UAE keen to invest in refining, petrochem projects, store oil in India; wants to develop strategic partnership
UAE's Abu Dhabi National Oil Co and its partner Saudi Aramco have jointly taken a 50 percent stake in the planned $44 billion refinery-cum-petrochemical complex at Ratnagiri in Maharashtra.
India will have the right over 65 percent of 6 million barrels of crude oil that ADNOC will store at the country’s maiden strategic storage at Mangalore.
Narendra Modi warns of high crude oil prices hurting global economic growth; seeks review of payment terms
Prime Minister Narendra Modi on Monday warned oil producers like Saudi Arabia that high crude prices are hurting the global economy and sought a review of payment terms to provide a temporary relief to the local currency.
Oil price spike: Narendra Modi pitches for partnership between producers, consumers to reduce energy cost
Narendra Modi highlighted that the consuming countries, due to rising crude oil prices, face many other economic challenges including serious resource crunch. The cooperation of the oil producing countries would be very critical to bridge this gap.
Aramco and ADNOC will supply half of the crude oil required for processing at the refinery.
IOC to invest Rs 1.75 lakh cr for expansion; to focus on organic, inorganic growth: Chairman Sanjiv Singh
IOC currently owns and operates 11 out of the 23 oil refineries in the country.f the 23 oil refineries in the country.
ADNOC joins Saudi Aramco, the world's largest oil producer, in the project which is planned to come on stream by 2025