Search Result for : Oil And Gas Imports

The Dollar Business Bureau  The Government plans to unveil a new policy for promoting the use of biofuels in the transport that will help in catalyzing about Rs.1 lakh crore of investment in the whole value chain, Oil and Petroleum Minister Dharmendra Pradhan said on Thursday.  India has to import around 80% of crude oil to meet its requirements and use of biofuels produced from non-edible oils help the country in meeting its target of cutting down the imports by 10% by 2022, Pradhan said at an event organised to mark ‘World Biofuel Day’.  The top three state-run oil companies of India Bharat Petroleum Corp Ltd (BPCL), Indian Oil Corp (IOC) and Hindustan Petroleum Corp Ltd (HPCL) have pledged $2 billion investment for carrying ...

PTI   Seeking to provide affordable energy to the Indian consumers, the government has introduced transparent policies through the deregulated market for global players to invest in refineries and petrochemical plants, Oil and Petroleum Minister Dharmendra Pradhan said here today. Launching a road show which offers 67 discovered small fields, clustered into 46 contract areas, for production and supply of oil and gas to the Indian market, he said India is seeking global investors for its energy sector to create competition in the domestic market with the main objective of providing competitively priced products to the consumers. "Consumers are the kings in India. We want to provide affordable energy to our consumers," Pradhan said, stressing that participation by big energy players like Saudi ...

The Dollar Business Bureau Union Oil Minister Dharmendra Pradhan said that India is taking a lead for creating an alliance of gas importers all over the world for ‘reasonable and affordable pricing’. Pradhan told the reporters, "We must have cooperation between all the LNG (Liquefied Natural Gas) and gas consuming countries, we must create a situation for a reasonable, rational and affordable price. India is taking the lead to create a network between these major gas consumers.” He added that calling gas an important fuel will be an important constituent for the country’s energy basket. The state-run GAIL is taking a lead in the negotiations between companies at the international level. GAIL is already in contact with the companies in South Korea and Japan. ...

The Dollar Business Bureau Starting the first roadshow to auction the 46 discovered small gas and oil fields, Dharmendra Pradhan, Minister for Petroleum and Natural Gas on Monday said that he is confident of receiving good response for blocks that are being auctioned with minimum conditionalities. Pradhan promised transparent regulations and better ease of doing business in the allocation of the blocks. “The present auction, as well as the newly declared Hydrocarbon Exploration and Licensing Policy (HELP), are both noteworthy improvements over the former New Exploration Licensing Policy (NELP) regime,” he added. “The purpose to shift from NELP to HELP is to make administrative and fiscal systems that are simpler and more transparent,” the minister said.As these blocks have no criteria for ...

 The Dollar Business Bureau The government is confident of reducing the county’s oil and gas imports by 10% by the year 2022, Petroleum and Gas Minister Dharmendra Pradhan said on Monday, citing key reasons such as shifting India’s focus towards domestic production of natural gas and oil. “Gas is the future fuel and India is taking steps to boost exploration and production. The government is working with public sector oil companies to bring in Start-Up Fund for oil & gas industry which would further boost the innovative ideas in the sector,” Pradhan said at Natural Gas Conclave event on Tuesday.  The Oil Minister said that the government has already taken scores of initiatives in the sector to feed the energy-starved country. ...