The minister launches a roadshow in Singapore, offering 67 discovered small fields, clustered into 46 contract areas, for production and supply of oil and gas to the Indian market
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The government is working on a scheme that will compensate state-owned power distribution companies that lose their prime commercial consumers once they become producers of energy
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According to a 2015 report by the International Energy Agency, India will require up to 329 million tonnes of oil products annually by 2030
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India currently imports 70-75 per cent of its energy requirements, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan said
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IOC started up the 300,000 barrels per day Paradip refinery in late 2015 and has a continuous catalytic reformer which turns naphtha into gasoline
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The overall decline, of 158 GW, was almost equal to the coal generating capacity of the European Union, at 162 GW
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The green panel, while disposing of the pleas seeking withdrawal of environment clearance given to the venture, also directed the project proponent Adani Group to maintain fisheries harbour on the port for welfare of local fishermen
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The change in tone comes as OPEC and other producers such as Russia may resume talks on stabilising output when they meet in Algeria later this month, after a similar effort to boost oil prices collapsed in April due to Saudi-Iranian tensions
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