Private refiners, public sector may together import crude to cut costs

Asia's Tech News Daily

Private refiners, public sector may together import crude to cut costs
© Provided by The Financial Express Addressing a press conference at the end of the India Energy Forum CERAWEEK event, Puri said the ministry’s secretary Tarun Kapoor met all crude oil importers — including the private sector — regarding the issue, and the private sector was very enthusiastic at the prospect of everyone gaining from collective bargaining.

In an attempt to bring down the oil import bill, the government is planning to form a consortium which will include both state-run companies as well as private sector oil refiners, Union minister of petroleum and natural gas Hardeep Singh Puri said on Friday.

Addressing a press conference at the end of the India Energy Forum CERAWEEK event, Puri said the ministry’s secretary Tarun Kapoor met all crude oil importers – including the private sector – regarding the issue, and the private sector was very enthusiastic at the prospect of everyone gaining from collective bargaining.

“I was very encouraged with the result of the meeting,” Puri said, adding that “I am very optimistic that the actions taken by us will reap beneficial outcomes”.

Crude imports are done separately by the different oil companies, including the state-run oil marketing companies (OMC), private sector and joint venture companies. “As it made it was more feasible for the Centre to import Covid vaccines on behalf of all the states, rather than states floating separate tenders, this thought is along the same lines.” the minister stated.

Crude oil import increased 12.9% annually to 100.7 million tonnes (MT) in the first half of the fiscal, while import value went up 127.7% to $51 billion in the same period. The price of Indian basket of crude is currently at around $82/barrel, up from $69/barrel in mid-August, supported by global demand recovery and limited production from major oil exporting nations.

Among the 113.3 MT of crude oil processed in the April-September period, 62.3 MT was the throughput of public sector refineries and 41 MT was processed by private refineries owned by Reliance Industries Ltd and Nayara Energy (earlier known as Essar Oil before it was acquired by Rosneft and Trafigura Group).

The remaining crude was processed by refineries owned by joint ventures like Bharat Oman Refineries Ltd (partnership between Bharat Petroleum Corporation Ltd and OQ SAOC) and HMEL (joint venture between Hindustan Petroleum Corporation Ltd and Mittal Energy Investment Pte Ltd, Singapore).

Internet Explorer Channel Network
Asia's Tech News Daily
News Related


Jussie Smollett testifies he gave check for diet and exercise plan, not for phony hate crime beating

1 / 2Jussie Smollett testifies he gave check for diet and exercise plan, not for phony hate crime beating CHICAGO — Former “Empire” actor Jussie Smollett testified in his own ... Read more »

Suspect arrested, charged in death of two missing Virginia women

Tonita Smith and Allene Redmon were found dead last month within a short distance of each other A D.C. man was arrested in the death of two women whose bodies ... Read more »

Apple's 'hands-off' approach with Roblox draws focus in DOJ antitrust probe - The Information

FILE PHOTO: FILE PHOTO: The Apple Inc logo is shown outside the company’s 2016 Worldwide Developers Conference in San Francisco (Reuters) – U.S. prosecutors are looking for instances in which ... Read more »

Manny Diaz Makes His Opinion On Miami Extremely Clear

© Provided by The Spun Miami head coach Manny Diaz on the sideline. Former Miami head coach Manny Diaz isn’t happy with how the university handled the coaching situation the ... Read more »

Here's the guest list for ESPN's 'ManningCast' for Patriots vs. Bills

© Provided by Patriots Wire Eli and Peyton Manning have a stacked lineup for ESPN2’s “ManningCast” of the New England Patriots against the Buffalo Bills on Monday night. ESPN always ... Read more »

Veteran NFL Punter Released On Monday Afternoon

© Provided by The Spun A detail view of an NFL football as the Buffalo Bills play the Washington Redskins at FedExField. The Atlanta Falcons made a number of roster ... Read more »

Where to find Luncheon Toad Skin in Final Fantasy XIV

© Provided by GamePur You’ll be on the hunt for several resources in Final Fantasy XIV, especially if you’re trying to complete specific crafting recipes or looking to offer them ... Read more »

How to fix the white screen error in Fortnite

© Provided by Dot Esports Fortnite’s third chapter is out. Players are already flooding the servers after an epic closing event that concluded the previous storyline while also shedding light ... Read more »

Jets WR Corey Davis out for the season with core muscle injury

© Provided by Jets Wire Corey Davis Corey Davis won’t play another snap for the Jets this season. The veteran wideout will undergo season-ending core muscle surgery on Tuesday, per ... Read more »

Look: NFL Owner Has Message For Jim Harbaugh

© Provided by The Spun A closeup of Jim Harbaugh during a Michigan football game. Jim Harbaugh captured his first Big Ten championship over the weekend as his Michigan Wolverines ... Read more »

All Drifblim weaknesses and best Pokémon counters in Pokémon Brilliant Diamond and Shining Pearl

© Provided by GamePur While some people may laugh at the fact that Drifblim is Pokémon that is literally a balloon, this spooky entity could easily knock down your party ... Read more »

Deion Sanders reportedly received interest from Colorado State

© Commercial Appeal-USA TODAY NETWORK Deion Sanders’ exploits at Jackson State continue to garner attention from FBS schools across the country. The latest evidence of that comes from Pat Forde ... Read more »

All Seven Outpost and Vault Locations in Fortnite Chapter 3 Season 1

© Provided by GamePur The Seven Vaults are important sites that players will need to learn in Chapter 3 Season 1 of Fortnite. Now that the seven are such a ... Read more »

Should the Texans regret not drafting RB Jonathan Taylor?

© Provided by Texans Wire texans-regret-jonathan-taylor HOUSTON — The Houston Texans’ run game has been historically bad over the previous two seasons. Dating back to their 4-12 campaign in 2020, ... Read more »

How to get the Spider-Man mythic weapon, Web-Shooters, in Fortnite

© Provided by Dot Esports Epic Games has found a way to make each Fortnite chapter and season as memorable as possible. Fans worked tirelessly to save the Fortnite universe during the second chapter ... Read more »

Steel joins T1 as VALORANT team's in-game leader

© Provided by Dot Esports Joshua “steel” Nissan has found a new home on T1’s VALORANT roster, the organization announced today.  Steel is a CS:GO veteran turned VALORANT pro who ... Read more »

Georgia football TE Brock Bowers ties school receiving TD record

© Provided by UGA (Georgia) Wire Georgia Bulldogs freshman tight end Brock Bowers tied the school record for receiving touchdowns in a single season during the SEC championship. Bowers scored ... Read more »

Another Interesting Name Mentioned For The Oregon Job

© Provided by The Spun A general view during the game between the Oregon Ducks and the Washington Huskies. Oregon football needs to swing for the fences after losing Mario ... Read more »

Woman pulls bead from her nose 20 years after she stuck it there as a toddler

© hannah.lham via TikTok Hannah Hamilton, 23, demonstrates the bead she removed from her nose after 20 years – hannah.lham via TikTok A young woman in Georgia has found unexpected ... Read more »

Will Boris Johnson implement Plan B? Sajid warns Omicron now spreading in the community

Officials have detected 336 new Omicron cases since late November, and experts believe this total could soon become thousands. The new virus has come at an unfortunate time, as most ... Read more »

Bengals provide injury updates on Joe Burrow, Logan Wilson and more

© Sam Greene/The Enquirer / USA TODAY NETWORK Burrow told media the injury happened on the very first series of the game: “I dislocated it on that first series, on ... Read more »

Eye-popping amount has been spent on college football coach buyouts

© Kirby Lee-USA TODAY Sports Former LSU Tigers head coach Ed Orgeron Several head coaches have been fired by top college football programs this season, and many of those dismissals ... Read more »

Look: Adam Schefter Is Freezing Ahead Of Monday Night Football

© Provided by The Spun ESPN insider Adam Schefter talking on the set of Monday Night Football. The weather in Buffalo for tonight’s game between the Bills and Patriots is ... Read more »

REPORT: Lincoln Riley pursues USC D-line coach with Pac-12 history, recruiting chops

© Provided by Trojans Wire The composition of Lincoln Riley’s staff at USC has been a point of intense speculation and intrigue over the past week. We have to note ... Read more »

Mother sparks mixed responses after revealing fake mouse dropping strategy for getting teenager to clean

© Provided by The Independent A mother has sparked a debate after revealing the lengths she went to to encourage her teenage daughter to clean her room. In September, Tiffini ... Read more »

Cardinals open as home favorites over Rams for Monday night showdown

© Provided by Cardinals Wire The Arizona Cardinals beat the Chicago Bears 33-22 on the road Sunday afternoon to improve to 10-2. Next up on their schedule is a huge ... Read more »

One Notre Dame player makes 247Sports true freshman All-American team

© Provided by Fighting Irish Wire If you asked many of us who would make the biggest impact from the incoming freshman class the likely answers would have been wide ... Read more »

Can you spot both bobcats photographed in Wisconsin forest?

© Provided by For The Win The Wisconsin Department of Natural Resources on Saturday shared an image that shows two bobcats camouflaged in a wintry landscape, and asked its Facebook ... Read more »

Panthers place OL Trent Scott on reserve/COVID-19 list

© Provided by Panthers Wire Carolina Panthers offensive lineman Trent Scott was one of a handful of players not visibly present at Monday’s practice coming off the Week 13 break. ... Read more »

If cats were people, they'd probably be psychopaths, scientists say

Some say “cats are people, too” — but if that’s the case, you’d better watch your back. A study has found that the average cantankerous kitty could be harboring actual ... Read more »

Toyota to build $1.3 billion battery plant in North Carolina

The move comes at a time when Toyota and other carmakers need to assert their e-car prowess in light of Tesla’s newfound dominance in the vehicle market. AFP via Getty ... Read more »

Sen. Bob Dole's final column: 'Too many of us have sacrificed too much'

This is Sen. Dole’s final op-ed. He began drafting it, with pen and paper, in October and finished it on Nov. 23. He died on Sunday. Dwight Eisenhower said that ... Read more »

Neighborhood Wars: Suv Plows Into Teen And Drives Off

Next door neighbors go at it over trash cans blocking a parking spot and the street ends up covered with their contents. Another neighbor unleashes an epic rant over the ... Read more »

Dominic Cummings: ‘very unwise for No 10 to lie' about Christmas parties

Ex-chief aide to Boris Johnson also alleges some journalists are trying to play down coverage of 2020 events Dominic Cummings has said it would be “very unwise for No 10 ... Read more »

Cape Coral man held victim, sexually abused them for hours after meeting on dating app, police say

A Cape Coral man is accused of imprisoning an adult and sexually assaulting them for hours after meeting through a dating app, reports indicate. Cape Coral police detectives said Douglas ... Read more »

Labor rules out post-election climate deals, dismissing Coalition scare campaign

Photograph: Lukas Coch/AAP Chris Bowen says party’s stance is not negotiable as Morrison claims a vote for Labor is a vote for ‘Greens targets’ Download the free Guardian app; get ... Read more »

Joni Mitchell Fast Facts

Here is a look at the life of singer, songwriter and painter Joni Mitchell. © Frederick M. Brown/Getty Images LOS ANGELES, CA – OCTOBER 28: Recording artist Joni Mitchell performs ... Read more »

‘Luxury Christmas for Less' — everything you need to know about the new consumer series

With Christmas fast approaching it’s time to start making lists and checking them twice. But if you’re not quite there yet, don’t worry, as Channel 4’s Luxury Christmas for Less ... Read more »

Jeff Hardy sent home from WWE tour after ‘rough night'

Jeff Hardy was reportedly sent home from WWE’s tour after having what is being called a “rough night”. AFP via Getty Images Jeff Hardy was sent home from WWE’s tour ... Read more »

Everton vs Arsenal LIVE: Live stream, score, TV – Damarai Gray THUNDERBOLT sees Toffees close in on thrilling victory

EVERTON take on Arsenal in the Premier League TONIGHT with Rafa Benitez feeling more pressure than ever as Toffees boss. The Toffees have had it tough in recent weeks and ... Read more »
On you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic