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India ups import tax on petcoke in blow to U.S. refiners

13h reuters
NEW DELHI, Dec 15 (Reuters) - India has raised the effective import duty on petroleum coke to 10 percent from 2.5 percent, according to a government order, days after the government told a court it was in favour of curbing the use of the dirty-burning fuel. (6-0)

India in talks with Indonesia for refineries, LNG plants

2017-12-14 moneycontrol
India is discussing setting up refineries and LNG plants in Indonesia, Oil Minister Dharmendra Pradhan said today. (3-0)

Supreme Court allows cement industry to use petroleum coke

2017-12-13 in.reuters
NEW DELHI (Reuters) - The Supreme Court on Wednesday allowed the cement industry to use petroleum coke, a dirtier alternative to coal which had temporarily been banned as pollution levels shot up in Delhi last month. (6-0)

IOC shuts FCCU at Paradip refinery after fire

2017-12-12 in.reuters
NEW DELHI (Reuters) - Indian Oil Corp has shut the fluidised catalytic cracking unit (FCCU) at its Paradip refinery, a company spokesman said. FCCU was shut after a fire broke out at a nearby facility at about 1100 hours local time. The east coast refinery has a capacity of 300,000 barrels per day (3-0)

Sensex falls as crude oil gains spark inflation worry

2017-12-12 in.reuters
(Reuters) - Indian shares edged down on Tuesday on investor caution higher global crude oil prices would stoke inflation and impact future interest rate decisions by the country’s central bank, with oil marketers and bank stocks weighing on the broader NSE index. (15-0)

Oil marketing cos fall as Brent crude hits over 2-year high

2017-12-12 thehindubusinessline
Shares of oil marketing companies fell as Brent crude hit over 2-year high. Hindustan Petroleum Corp Ltd, Bharat Petroleum Corp Ltd and Indian Oil Corporation Ltd fell as much as 2.10-2.90 per cent. (4-0)

This Punjab plant may have the pollution solution

2017-12-12 thehindubusinessline
The burning of paddy straw has created an environmental storm by worsening the air quality in the Capital and its surroundings, but it may now yield a new way to make manure and compressed natural gas (CNG). (3-0)

Indian shippers want IOC to ease tanker hire condition

2017-12-10 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

2017-12-10 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

2017-12-10 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)

Budget 2018 not likely to be populist: PMEAC member

2017-12-10 thehindubusinessline
Rathin Roy said the Union Budget will reflect the commitment of the government to improve quality of expenditure. (3-0)

Coal India's explosives JV takes a backseat

2017-12-09 business-standard
Over a year after the world’s largest coal miner, Coal India Ltd (CIL), tried to secure self-sufficiency in obtaining explosives — a key component in scaling up production — the company continues to rely on third-party sources and has spent over Rs 1,609 crore so far in the current financial year.   In February last year, the coal monolith signed an agreement with the Indian Oil Corporation Ltd (IOCL) to float a joint venture (JV) firm, which would acquire assets of the oil major’s 12 explosive-producing plants and would ensure a steady and quality supply to CIL. (8-0)

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)

News Live: 10 stocks created investor wealth worth Rs 15 trillion in 5 years

2017-12-08 moneycontrol
Shareholders of 10 Indian blue chips became richer by more than Rs 15 lakh crore within a short span of just five years: between FY12 and FY17. The corresponding figure for the top 100 Indian companies was almost Rs 39 lakh crore, according to a study by domestic broking major Motilal Oswal Securities. (72-0)

German Mirror launches lubricant brand in India

2017-12-07 thehindubusinessline
Keen to use India as a hub to supply locally and export to China, S-E Asia (3-0)