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Reducing Dependence on Import of Oil

Government is making all efforts to reduce import dependence. India’s oil and oil equivalent gas import dependence in 2014-15 and 2015-16 were 68.9% and 72.2% respectively and during current April-January, 2020-21 is 77.1%. The year wise details of crude oil imported and details of imports of crude oil as percentage of total crude oil processing are as below:   2015-16 2016-17 ...

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Demand of Domestic Petroleum Products

During April-January, 2020-21, Crude oil processing is 182.2 MMT i.e. 73% of total crude oil processing capacity (249.87 MMT).During 2020-21, the capacity utilisation of Indian refineries are lower due to lower demand on account of Covid-19 pandemic. The policy initiatives taken by the Government to reduce import dependency and increase domestic production of oil and gas include: – Policy for ...

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MoU signed for Paradeep Plastic Park between IOCL and IDCO

Indian Oil Corporation Limited (IOCL) and Odisha Industrial Infrastructure Development Corporation (IDCO) today signed an agreement and a Memorandum of Understanding (MOU) to developParadip Plastic Park. The MoU was signed on a hybrid mode, in the presence of Minister of Petroleum & Natural Gas and Steel Shri Dharmendra Pradhan, Shri Naveen Patnaik, Chief Minister of Odisha and other dignitaries. Addressing ...

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Cabinet approves Grant-in-aid of Rs.100 crore to Brahmaputra Valley Fertilizer Corporation Limited, Assam

The Cabinet Committee on Economic Affairs chaired by Prime Minister Shri Narendra Modi today accorded approval to the proposal of the Department of Fertilizers for Grant-in-aid of Rs.100 crore to Brahmaputra Valley Fertilizers Corporation Limited (BVFCL), Namrup (Assam) to sustain operations of it’s urea manufacturing units. BVFCL, Namrup is a Public Sector Undertaking formed as per Companies Act, under the ...

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Compressed Biogas Plants

Government of India has launched Sustainable Alternative Towards Affordable Transportation (SATAT) initiative on 1.10.2018 to promote Compressed Bio Gas (CBG) as an alternative, green transport fuel for efficient management of biomass and organic waste includingmunicipal waste as well as from forest and agricultural waste including animal-husbandry and marine waste. This initiative envisages establishment of large number of CBG plants by ...

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Imports of Petroleum/Natural Gas

The share of crude oil imports and domestic crude oil production in the total crude oil processing/annual consumption of crude in the country during the last three years and current year are given below:-     (Quantity in Million Metric Tons (MMT) Particulars 2017-18 2018-19 2019-20 2020-21 (Apr-Dec)(P) Quantity of crude oil imports (MMT)-A 220.4 226.5 227.0 143.2 Quantity of domestic ...

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Shri Dharmendra Pradhan addresses USISPF-3rd annual leadership summit; Invites US companies to partner in Aatmanirbhar Bharat campaign

Minister of Petroleum and Natural Gas and Steel, Shri Dharmendra Pradhan today participated in the USISPF- 3rd Annual Leadership Summit on the theme of “Navigating New Challenges.” Minister Pradhan talked about the unprecedented impact of the Covid-19 pandemic on the global economy and the consequent energy demand contraction. He added that with the gradual pick up of economic activity in ...

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Battery Swapping Facility Quick Interchange Service inaugurated in Chandigarh

Shri V P Singh Badnore, Governor of Punjab-cum-Administrator, UT, Chandigarh, alongwith the Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan today inaugurated Battery Swapping FacilityQuick Interchange Service (QIS) at Chandigarh.Shri TarunKapoor, Secretary, Ministry of Petroleum & Natural Gas, Shri Sanjiv Singh, Chairman, IndianOil, Officers of Ministry of Petroleum & Natural Gas, the Union Territory of Chandigarh, and ...

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Dharmendra Pradhan inaugurates Product Application and Development Centre at Paradip, Odisha;

Minister of Petroleum and Natural Gas & Steel Shri Dharmendra Pradhan along with the Chief Minister of Odisha Shri Naveen Patnaik today inaugurated a Product Application & Development Centre (PADC) setup by Indian Oil at Paradip, through video conference. PADC has been setup by IndianOil at Paradip with a capex of Rs 43 crores, adjacent to its Refinery and Petrochemicals ...

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Rising Demand of Oil

As per World Energy Outlook 2019 published by International Energy Agency, India’s oil demand in total primary energy is projected to increase from 233 Million tonne of oil equivalent (Mtoe) in 2018 to 305 Mtoe in 2025, whereas China’s oil demand is projected to increase from 593 Mtoe in 2018 to 672 Mtoe in 2025. Government has taken several steps ...

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