<p>Order of the Supreme Court of India in the matter of M/s Hindustan Petroleum Corporation Limited Vs Visakha Pawan Praja Karmika Sangam & Others dated 05/01/2023.</p> <p>The Supreme Court directed
Talks on with APIIC to identify suitable site for the project India’s major power producer National Thermal Power Corporation (NTPC) has decided to launch a fresh initiative to speed up work for establishing 4,000 MW coal-fired Greenfield power project near Visakhapatnam. Having completed the full design capacity of 2,000 MW with Unit 4 (500 MW) going commercial on September 30, NTPC Simhadri Super Thermal Power Plant at Parawada has no space for further expansion. Hinduja National Power Company Ltd is in advanced stage of commissioning a 1,040 MW power plant at Palavalasa, close to Simhadri.
The 3 govt-owned OMCs-IndianOil, BPCL and HPCL-together meet the country's entire LPG cylinder demand After consumers exhaust the year’s quota of six subsidised liquefied petroleum gas (LPG) cylinders announced by the Union government, oil marketing companies (OMCs) would charge them at the market rate for additional cylinders. This is despite several Congress-ruled states saying they would provide three additional subsidised cylinders. For these states, OMCs want the price differential for the cylinders to be transferred directly to consumers.
As part of its modernisation drive, Hindustan Petroleum Corporation Ltd (HPCL) has constructed a Rs.330-crore greenfield oil terminal at Ennore. This will not only enable it to move petroleum products from Ennore Port to its terminal seamlessly through dedicated pipelines, but also decongest the Tondiarpet area in north Chennai. The new oil terminal is expected to start functioning soon. Talking to The Hindu, Y.V.N. Sarma, DGM - Ennore Project, HPCL Chennai New Terminal, said the current HPCL terminal was located on 15 acres of land having a tankage of 50,000 KL at Tondiarpet. HPCL had decided to discontinue its operations there and move POL products (petroleum, oil and lubricants) to Ennore in a phased manner.
IndianOil, Bharat Petroleum and Hindustan Petroleum have incurred a loss of Rs 2,600 cr on sale of petrol during Apr-Sep period IndianOil, the biggest oil marketing company, has cut petrol prices by Rs 0.56 a litre, with effect from midnight on Monday The other oil marketing majors — Bharat Petroleum and Hindustan Petroleum — are expected to announce cuts shortly. In the capital, petrol will now cost around Rs 67.90 a litre.
New Delhi Petrol price may be cut by about Rs 1.60 per litre later this month as appreciation of rupee against the US dollar has helped state firms make profit on the fuel. Indian rupee appreciated to five-month high since the government announced allowing foreign direct investment (FDI) in multi-brand retailing. This has eased the cost of imports for oil firms, helping them make profit on sale of petrol. "Yes, there is about Rs 1.60 per litre profit on petrol since October 1. But we want this trend to stabilise before we think of cutting retail prices," a senior executive at one of the three state-owned fuel retailers said.
Global kerosene and LPG prices divergent to those of diesel, petrol and ATF In the first price revision after the government capped the number of subsidised cylinders for consumers, domestic liquefied petroleum gas (LPG) has become nearly 17 per cent dearer, thanks to firm international prices. From October 1, the consumer price of every non-subsidised domestic LPG cylinder has risen to Rs 883 from Rs 756 last month.
The Supreme Court has issued notice to Petroleum and Natural Gas Regulatory Board (PNGRB) while admitting an appeal of GAIL (India) Limited challenging the award of Rs 7,000-crore Mallavaram-Bhilwara-Vijaipur gas pipeline project to a consortium led by state-run Gujarat State Petronet Limited (GSPL). A bench headed by Justice TS Thakur on Monday, however, declined to grant stay on the work of the over 1,500 km long pipeline project.
Mumbai Government-run Hindustan Petroleum Corporation (HPCL) is eyeing stakes in overseas oil blocks, primarily in Africa and Kazakhstan, as it looks to beef up its portfolio of producing and discovered
Securing timely payment from states against sale of subsidised cylinders beyond six would be a challenge Oil marketing companies (OMCs) are wary of the populist step of states to increase the number of subsidised cylinders. Securing timely payment from states against sale of subsidised cylinders beyond six would be a challenge, the companies said. According to last week’s decision, a consumer would get only six subsidised cylinders a year, at Rs 399 in the capital, and would have to pay around Rs 750 for each additional refill. But Delhi, Haryana and Assam have announced a subsidy cover for three more cylinders.
Kuala Lumpur Oil and Natural Gas Corp (ONGC), India’s biggest government-owned energy explorer, is considering bidding for part of ConocoPhillips Canadian oil sands holdings worth around $5 billion, a source with direct knowledge of the situation told Reuters on Tuesday. The Houston-based company has been looking to sell assets in a number of countries including Nigeria as part of a global restructuring. ConocoPhillips recently completed the spin-off of its refining activities into Phillips 66, a newly created independent US company.
