Rs 8,000-crore capacity expansion plan by Chennai Petroleum Corporation may get affected

Amid insurance woes, the US sanctions on Iran may well cast a shadow on expansion plans by Indian refiners. According to an official source, the Rs 8,000-crore capacity expansion plan by Chennai Petroleum Corporation Ltd (CPCL) may get hit as European companies are reluctant to give technology licensing for the upcoming six-million tonne units.

In the backdrop of receiving complaints by the general public over the dumping of waste at Modapadavu, the Karnataka State Pollution Control Board (Mangalore) has issued a show cause notice to Mangalore Refineries and Petro-chemicals Ltd on December 6.

The show cause notice has been served for non-compliance of consent conditions and violation of the Water and Air Acts of the Environment Protection Act 1986.

NEW DELHI, 22 APRIL: India's oil refining capacity will rise by more than 43 per cent to 310 million tons a year by March 2017 from the current capacity of 216 million tons, oil secretary Mr GC Cha

Also woos Saudi Arabia with new petroleum diplomacy, while trying to soothe a vexed US, in an interesting coordination effort between external and other ministries

India is finally plunging into the oil politics of the Gulf and West Asia. It sent a team of senior officials from the commerce ministry to Iran around a fortnight earlier, to clinch an oil-for-food deal. And, is beginning to woo the Sunni oil kingdoms in the region, led by none other than Saudi Arabia.

Obama administration officials say they are concerned India may run afoul of a new US law restricting payments for Iranian oil, forcing the White House to impose sanctions on one of its most important allies in Asia.

So far this year, India is failing to cut back its purchases of Iranian oil, which may force President Barack Obama to impose penalties as early as June 28, according to several US officials.

New Delhi Cairn India has agreed to double the compensation to the farmers and landowners resisting construction of its pipeline project in Rajasthan and Gujarat. The proposed pipeline will connect its Rajasthan oilfield to the crude oil shipping facility at Bhogat in coastal Gujarat.

The company now produces one fifth of India's crude oil output. It has agreed for higher right of user payment — more than double the rate applicable in the Jamnagar district — after discussions with the local authorities and policymakers, said a source privy to the development.

New Delhi India’s largest Iranian oil buyer plans almost to halve daily imports, industry sources said on Monday, becoming the latest Asian refiner to cut supplies from Iran as Western sanctions make trade with Opec’s second-largest producer difficult.

India, China and Japan buy almost half of Iran’s estimated 2.6 million barrels per day of oil exports, but a raft of US and European sanctions aimed at choking off funding for Iran’s nuclear programme are squeezing its oil supply lines.

New Delhi To serve the expected addition in refining capacity and to partly replace any shortfall in crude oil supplies from Iran, India has sought an additional 5 million tonne of crude oil from Saudi Arabia. India has also sought investments from Saudi firms in its new petrochemical and refinery projects.

“We have sought 5 million tonne extra crude oil from Saudi Arabia for 2012-13,” minister of state for petroleum and natural gas R P N Singh said here after holding discussions with the visiting assistant minister for petroleum affairs Abdul Aziz Bin Salman bin Abdulaziz.

Asserting that India was not facing any problem in making payments for the import of crude oil from Iran, Petroleum and Natural Gas Minister Jaipal Reddy on Wednesday warned that the country needed

NEW DELHI: Indian refiners and oil ministry officials are meeting on Monday to discuss alternative methods to pay for Iranian oil imports should an existing mechanism via Turkey's Halkbank be halte