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Indian shippers want IOC to ease tanker hire condition

13h business-standard
To increase their chances in the latest tender floated by state-run Indian Oil Corporation (IOC) for hiring of tankers, domestic shipping companies are asking for an easing of the vessel-age criteria.   Early this month, separate tenders were floated by two state-owned oil refiner-marketer companies, IOC and Bharat Petroleum Corporation (BPC). They want to hire a VLCC (very large crude oil carrier) and a Suezmax tanker, respectively, for a contract period of five years. (3-0)

Tanker charters: Owners to seek change in fleet age limit

15h thehindubusinessline
IOC and BPCL have set a 10-year age limit for qualifying ships because by the time the five-year contract ends, the ships will be 15-years old, reaching the threshold prescribed by most of the crude-oil loading terminals worldwide (3-0)

Essar Shipping eyes fleet expansion

16h thehindubusinessline
Essar Shipping Ltd is weighing plans to expand and diversify its fleet by acquiring a panamax size bulk carrier, a medium range oil tanker, and a Suezmax carrier, said Ranjit Singh, Executive Director and Chief Executive Officer. (3-0)

IOC, BPCL set rates for VLCC, Suezmax tanker

2017-12-08 thehindubusinessline
Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) will benchmark the rates for a very large crude carrier (VLCC) and a Suezmax tanker, respectively, they plan to hire from local fleet owners for five years to the Clarksons index that are also subject to a floor (minimum rate) and a cap (maximum rate). (3-0)

Indian Refiners Turn To Use Dirty Fuel To Produce Power, Gas

2017-12-05 rigzone
NEW DELHI/MUMBAI, Dec 5 (Reuters) - Indian oil refiners are drawing up plans to use petroleum coke for power generation and to produce syngas after the government banned use of the heavily polluting fuel in and around New Delhi. (6-0)

Indian fleet-owners term IOC, BPCL tanker charter tenders ‘not workable’

2017-12-05 thehindubusinessline
IOC’s decision to allow foreign flag ships to participate in the VLCC tender with the right of first refusal to Indian flag ships has also not gone down well (3-0)

Indian refiners turn to use dirty fuel to produce power, gas

2017-12-05 in.reuters
NEW DELHI/MUMBAI (Reuters) - Indian oil refiners are drawing up plans to use petroleum coke for power generation and to produce syngas after the government banned use of the heavily polluting fuel in and around New Delhi. (7-0)

Indian oil refiners issue tanker tenders aimed at boosting domestic shipping

2017-12-04 moneycontrol
Two of India's state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates. (3-0)

Indian Oil Refiners Issue Tenders Aimed At Boosting Domestic Shipping

2017-12-04 rigzone
NEW DELHI/SINGAPORE, Dec 4 (Reuters) - Two of India's state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates.

PSU oil refiners issue tanker tenders to boost domestic shipping

2017-12-04 thehindubusinessline
Two of India's state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates. (3-0)

Indian oil refiners issue tanker tenders aimed at boosting domestic shipping

2017-12-04 in.reuters
NEW DELHI/SINGAPORE (Reuters) - Two of India’s state-owned oil refiners have issued tenders seeking to charter tankers for at least five years while giving preference to Indian companies, tender documents reviewed by Reuters showed, which would boost domestic shipping firms battered by slumping tanker rates. (3-0)

Pradhan writes to Patnaik for help on ethanol plant

2017-12-02 moneycontrol
Union Petroleum Minister Dharmendra Pradhan has sought Odisha Chief Minister Naveen Patnaik's assistance for setting up a Rs 750-crore ethanol plant in Bargarh district, as part of measures to promote eco-friendly alternative fuel.

Mega refinery: Better to be prepared today than be sorry tomorrow, says IndianOil Chairman

2017-11-28 thehindubusinessline
Does it make sense to set up a mega refinery in the country when there are already 23 refineries (public and private sector combined) here, is the question in the minds of many. Indian Oil Corporation Chairman, Sanjiv Singh, believes that a decade from now there will be a need to meet growing domestic needs. “We expect the demand to grow and we have to be ready. Building our own capacities has its advantages. (7-0)

Centre plans mega port to cater to PSU oil majors’ $40-b petrochem complex

2017-11-27 thehindubusinessline
The Centre has flagged off a techno-economic feasibility study to build a mega port to cater to the $40 billion west coast refinery and petrochemicals complex being planned by three state-run oil firms. The proposed port will come up at Vijaydurg in Maharashtra’s Sindhudurg district (4-0)

Oil & gas producers to gain as crude rises, refiners to be hit

2017-11-27 business-standard
With the rise in global crude oil prices, analysts expect oil and gas producing entities to gain but refining ones to see tough times. In sector jargon, these are respectively termed upstream and downstream companies.  Upstream entities hunt for, find and extract crude oil and natural gas. (6-0)