Energy Sector

Crude oil pipeline route in Turkey changes from Samsun to Unye

Mittal Group signs MOU with 4 Oil companies to set up Petrochemical Plant at Vizag

Mittal Investments has signed a Memorandum of Understanding (MOU) with HPCL, Oil India, GAIL and France’s Total S.A. to develop a refinery and petrochemical plant in Visakhapatnam. LN Mittal group will also be working with HPCL to set up a refinery in Bhatinda, Punjab. The Bhatinda refinery project has been delayed for many years due to political issues and Mittal Group was successful in picking up 49% stake in the project.

In the statement issued, HPCL CMD Mr. Arun Balakrishnan said, "We have signed a memorandum of understanding to study the feasibility of a refinery and a petrochemical complex. We expect to receive the report by March."

Crude Oil On All-Time Peak

Crude oil has climbed up to new all-time peaks in the Asian markets.

Govt. in No Mood to Hike Petrol, Diesel Prices

New Delhi: Allaying the hearsay regarding increase in the kerosene and domestic Liquefied Petroleum Gas (LPG) costs, together with that of petrol and diesel in the recent year (2007), the Union Gov

ONGC To Use Up $1.4 Bln On Field Redevelopment

ONGCMumbai: Indian state-run explorer Oil and Natural Gas (ONGC) will expend Rs 5713 crore on the second development phase of a key field off India’s west coast.

In a declaration, the company said that the renovation would aid ONGC’s Mumbai High South field to fabricate 22 million tonnes of incremental oil.

“At current crude prices, the additional produce is valued at 530 billion rupees,” the company said.

Reliance Power Follows IPO Path

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