New Delhi, Sept. 28 : Minister of Fertilizers and Chemicals and Steel Ram Vilas Paswan will release the National Policy on Petrochemicals here today.
The policy is aimed at promoting investment in upstream in downstream industries, increase production and consumption, create infrastructure and promote research and development of plastic and synthetic fibres.

Mumbai: In order to promote its subsisting refineries, Indian Oil Corp. Ltd (IOC) has decided to invest Rs 43,250 crore by 2011-12.

The India’s biggest public sector oil marketer will utilize funds primarily to increase annual refining capacity to around 80 million tonnes by the next five years.

IOC will also establish refineries and petrochemical plants, and explore for acquirements out of the country in the next five years.

New Delhi, Sept 22 : ONGC Videsh Ltd (OVL) will sign Production Sharing Contracts (PSCs) for three deep water exploration blocks with the Myanmar Oil and Gas Enterprise (MOGE), a Myanmar government's undertaking.

Petroleum Minister Murli Deora, who is leaving on Sunday for a two-day visit to Myanmar, will also attend the signing of the contract.

Deora will be accompanied by Petroleum Secretary M S Srinivasan and OVL MD R S Butola.

Washington, Sept.22 : A renewable energy source designed to reduce greenhouse gas emissions is contributing more to global warming than fossil fuels, a study has suggested.

Mumbai: State-owned oil major BPCL has sought an increase in petrol rates by Rs 4 and diesel by Rs 2 per litre in proportion to the climbing crude oil costs in the worldwide markets.

While addressing the news persons after its 54th AGM on Thursday, Ashok Sinha, BPCL Chairman and Managing Director said, “We are hoping the price of petrol and diesel would be raised by Rs 4 and Rs 2 respectively.”

“The three oil companies are losing Rs 150 crore per day and BPCL's share is 25 per cent of that,” Mr. Sinha commented.

New Delhi: Oil and Natural Gas Corp (ONGC) on Wednesday said that it will commence production from its ultra deep sea gas discovery in the Krishna-Godavari basin off the east coast by 2012-13.