Hindustan Petroleum Corporation News

The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as increasing demand for LPG  as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil.Increasing demand for LPG used to run vehicles (Autogas)  is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation, said a report by ResearchAndMarkets.Of the overall LPG consumed across the globe, nearly 87% is used for residential/consumer use.By source, the Asian LPG market has been categorized into Refinery, Associated Gases & Non-Associated Gases.

India is set to emerge as a key market for American crude exports in coming months, as refineries in that country are ramping up "test" purchases of U.S. grades to diversify their imports. U.S. exports recently set a weekly record with nearly 2 million barrels of crude a day sent overseas. But shipments to India have been rare, with just a few deliveries since the U.S. lifted its ban on crude exports in late 2015. Indian refineries are starting to increase purchases as the country seeks to secure more supply from outside the Middle East. Refiners are testing both U.S.

Hinode’s 5th Annual conference on the Outlook for bunkering and Marine Lubricants in India clearly acknowledged the fact that India was well on its way to becoming a Bunkering destination. Lack of infrastructure, duties, quality of bunkers, etc., were issues now in the process of getting resolved and the government was actively engaged in putting necessary infrastructure in place. With the evolving scenario speakers at the conference agreed that ample opportunities exists for players to make it big in the bunkering business. The conference drew record participation with a wide response not just from India but also from South East Asia, Middle East and Far East and other countries.

A fire broke out due to a suspected leakage in an oil pipeline passing through a land owned by the Mumbai Port Trust (MbPT) in Wadala in central Mumbai, but no one was injured. Fifteen fire tenders and 12 water tankers eventually doused the flames after a five-hour fight around 11pm. There were no casualties. Sources said the flames were spreading fast in the evening because of the strong monsoon winds blowing from the southwest. Dark smoke could be seen from up to 7km away in Lower Parel. The fire began at 5:50 pm. "An oil leakage was detected this morning and we had taken all the necessary precautions. But at 6 PM, we were informed of a fire," MbPT chairman RM Parmar said. He added that no casualties have been reported in the incident so far.

The "4th Annual Conference on the Outlook for Bunkering and Marine Lubricants in India" will be held on Thursday, December 4, 2014 at the Hotel Vivanta by Taj-President, Cuffe Parade, Mumbai. With the demand for shipping fuel at major Indian ports having climbed in the past week by up to 25 percent as the cost of refuelling at Singapore, Asia's bunkering hub, soared following the collapse of the world's leading supplier, the organisers are getting set to meet the last minute rush for registraion.

India Tanker Conference the biggest event of Hinode Events and Services Pvt Ltd, and the first one on the Tanker trade is set to take off on JUNE 5 in Mumbai at the Hotel Vivanta by Taj - President, in MUMBAI. This First Annual Conference on the Outlook for India’s Seaborne Oil, Bulk Liquids and Gas Tanker Trade, will explore the current challenges and outlook for the seaborne transportation of crude oil, bulk liquids AND gas cargoes encompassing the shipment of crude oil, petroleum products, petrochemicals, liquefied gases as well as vegetable oils, etc. Over 200 delegates are expected to attend. They will represent a wide cross section of the trade and industry including Ship owners and operators, charterers, cargo interests.

Oil and Natural Gas Corporation has sought permission from the government to end the discount it offers on crude oil from its offshore assets to domestic state-run refiners. Of ONGC’s 17-million-tonne annual crude output from various offshore fields, it supplies 13 million tonne to Indian Oil and its subsidiaries, Hindustan Petroleum Corporation Ltd. and Bharat Petroleum Corporation. ONGC sells crude to state run refiners at $2-5 a barrel less than the landed cost of bonny light crude. Meanwhile, ONGC subsidiary Mangalore Refinery and Petrochemicals Ltd. imports crude for processing. (Source: Business Standard)

Oil and Natural Gas Corporation (ONGC) will soon make an offer for a complete buyout of the Hazira LNG terminal of Royal Dutchhell, according to a Business Standard report. Unlike Hindustan Petroleum Corporation , which is interested in picking up 26 percent equity in Shell Hazira, ONGC is mulling a total buyout of the LNG import and regasification terminal. Shell Hazira is finding it difficult to market LNG in India at the prevailing global prices. Its sole customer, Gujarat State Petronet Corporation, lifts LNG when there is demand from the customers in the state. In the absence of long-term supply agreements with Indian consumers, Shell Hazira picks up floating cargoes of LNG and brings the same to the Hazira terminal for sale at prevailing global LNG prices.