Oil Refinery

In the past six months, Oil India soared 26 per cent, as against 3 per cent rise in the S&P BSE Sensex

Numaligarh Refinery is setting up a plant with a capacity of 300 kg per hour

Indian refiners and traders are concerned they may not be able to continue to settle trades in dollars, especially if the price of Russian crude rises above a cap imposed by the Group of Seven nations

The state-run refiner also plans to shut half of its 240,000 bpd Mumbai refinery in western India for three to four weeks in September-October for maintenance

India, the world's third biggest oil importer and consumer, buys over 80% of its oil needs from overseas

Guyana and India in 2021 failed to reach an agreement for direct sales of Guyana's sweet crude to Indian state refiners

India's role in supplying Europe is notable because it has become one of the biggest buyers of discounted Russian crude since the war broke out

Russian oil company Lukoil said Monday that it has reached an agreement for the sale of a refinery plant in Sicily, where thousands of workers have been fearing job losses due to the European embargo on Russian oil. A company statement said that the sale of the ISAB Srl refinery to G.O.I Energy is planned to be completed by the end of March pending various approvals by authorities, particularly the Italian government. The refinery employs 3,500 people and indirectly supports the jobs of 6,500 others. The workers at the refinery protested in late 2022, fearing for their future as a consequence of the embargo imposed because of Russia's war against Ukraine. About 20% of Italy's oil is refined at the plant. Lukoil said that under the agreement the new owner will retain jobs and ensure health and safety conditions. It noted that G.O.I. Energy investors own a majority stake in Bazan Group, which operates Israel's largest integrated refining and petrochemical facility. No financial deta

Nayara Energy Ltd, India's second-largest private oil refiner, on Wednesday said it is on track for entry into the petrochemicals sector with the majority of work being completed on a propylene recovery unit. Nayara, which operates a 20 million tonne-a-year oil refinery at Vadinar in Gujarat, has adopted a phase-wise asset development strategy to enter into the petrochemicals sector. "Under Phase-1 of the project, Nayara is setting up a 450-kilo tonne per annum polypropylene plant at its Vadinar refinery in Gujarat - a propylene recovery unit along with upgrades to the existing FCC Unit (Fluidized Catalytic Cracking Unit) and a polypropylene unit (PPU)," the firm said in a statement. Stating that it is on track with the projects, the firm said it is well positioned to make a strong energy into this high growth segment given that it is located in the largest petrochemical consumption region of the country and its proximity to a jetty. "Phase-1 project development has achieved over 8

Delays in acquiring a 15,000-acre land parcel have almost stalled the project, initially planned for 2025, and boosted costs by 36% to $60 billion, as per estimates made in 2019

Output accelerated by only 0.1% in October; 4 of 8 core industries reported production contraction

Pakistan has persuaded Saudi Arabia to revive a USD 12 billion state-of-the-art deep conversion refinery and a petrochemical complex in the country, a project that was shelved by the oil-rich Gulf Kingdom during the Imran Khan regime, a media report said on Monday. The development comes ahead of the visit of a delegation from Saudi Arabia led by Crown Prince Mohammed bin Salman to Pakistan next month. The Pakistan government has made efforts to persuade Saudi Arabia to honour the MoUs signed three years ago and invest in Pakistan, The News reported. In 2019, Crown Prince Mohammed visited Pakistan when Khan was the prime minister, and signed MoUs for an investment of USD 21 billion, including the project of a deep conversion refinery and petrochemical complex with an investment of USD 12 billion. Subsequently, when Khan tried to cobble up a bloc of Islamic countries with the consent of Turkey and Malaysia, outside the ambit of the Saudi-dominated Organisation of Islamic Cooperation

OIL produces heavy oil and natural gas at Tanot Dandewala and Baghewala in the state, and is exploring PML for five more locations in the state.

India's top refiner Indian Oil Corp has set up a subsidiary to pool the funds of its overseas units in order to meet capital and trade finance needs, it said in a statement on Thursday

Petroleum Minister Hardeep Singh Puri on Saturday said the Centre has not taken any decision to set up an oil refinery project in any specific area in Maharashtra. Speaking to reporters in Chandrapur, he said the state government will have to discuss the project's location with the Central government. He alleged the erstwhile government (in Maharashtra) had allocated land for the project but later refused under the pretext of changing the location, which derailed the project. "Following this, the state (Maharashtra) and the country faced huge economic losses in the last two-and-a-half years," Puri alleged. Puri was apparently referring to the Ratnagiri Refinery and Petrochemical project, proposed to be built at Nanar village in Ratnagiri district in coastal Konkan, but it was scrapped before the 2019 polls at the insistence of Shiv Sena, the then alliance partner of BJP. Establishing a 60-million metric tonne per annum oil refinery will be the biggest plant in the world, Puri ...

Indian refiner Nayara Energy, partly owned by Russian energy giant Rosneft, plans to fully shut its 400,000 barrels per day Vadinar refinery for about a month from November for routine maintenance

The oil ministry has been asked by the government to prepare a report on the country's future fuel demand and refining capacity needs

The company plans to invest more than $25 billion to achieve net-zero emissions from its operations by 2046, its chairman SM Vaidya said at an annual shareholders meeting

Chennai Petroleum Corp said it had cut crude processing by a quarter at its 201,000 barrels per day Manali refinery, following an order by the Tamil Nadu state pollution control board

RIL did point to these recessionary fears at its investor call, saying it remained a challenge for oil companies