Tag Archives: Dharmendra Pradhan

Petronet will buy the LNG on delivered basis with a price equivalent to about 12.5 percent of Brent oil prices.

India'.s crude oil import bill is expected to increase 23% from $70 billion in 2016-17 to $86 billion in 2017-18.

State refiners have a 230 million tone-a-year refining capacity and a petrochemical production capacity of 915 million tone-a-year. which are being expanded.

India'.s state refiners have cut oil import plans from Iran by a quarter in the year to March 2018.

Oilfield services providers would be expected to invest in the fields in exchange for payment for every barrel of oil or Btu produced over an established baseline. the report added.

India’s biggest gas importer Petronet LNG annually buys 8.5mn tonnes under a long-term contract.

New Delhi is keen that the gas from the field comes to India to feed the vast energy needs.

India. the world'.s third biggest oil consumer. imports 86 percent of its oil needs from OPEC nations.

Gas extraction from the giant South Pars field in the Persian Gulf has exceeded 550 million cubic meters per day.

The National Iranian Oil Company is expected to announce its decision on India'.s proposal soon.