News & Bulletin Updates

Oil prices are unlikely to mount a dramatic and sustained surge despite vaccines expected to boost demand later this year, the International Energy Agency (IEA) said on Wednesday, with the world still awash in oil.

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Oil prices dropped for a fifth day on Thursday after official data showed a sustained rise in U.S. crude and fuel inventories, while the ever-present pandemic clouded the demand outlook.

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Dutch oil storage company Vopak wants to build an LNG import terminal in Australia's Victoria state, vying with five other proposed projects to fill a looming gas supply gap in the country's southeast.

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The approval of ethanol production promotion policy, 2021 by the state cabinet on Tuesday received a largely positive response from the trade and industry bodies as well as farmers of the state. Experts said the policy will help reduce pollution by promoting Ethanol Blended Petrol (EBP).

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The Brazilian government has authorized the local unit of energy company Royal Dutch Shell to import liquefied natural gas (LNG) from several countries into the Brazilian market, according to a notice in the official gazette on Wednesday.

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The market for moving oil across the world’s oceans is currently so bad that owners of the industry’s biggest supertankers are actually subsidizing the delivery of cargoes.

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India’s state refiners are considering purchasing fewer barrels from Saudi Arabia in May after the OPEC ignored New Delhi’s call for higher supplies to calm international crude oil prices.

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Indian Oil Corporation (IOC) on Wednesday entered into a collaboration with Phinergy, an Israeli start-up company specialising in hybrid lithium-ion and aluminium-air/zinc-air battery systems, to form IOC Phinergy Private Limited.

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Ammonia-Urea Brownfield Project  
8Cost - Rs 6000 crore
Active tendering is on, find out who are in the race for different packages.
Ammonium Nitrate Greenfield Project     
8Cost - Rs 1750 crore
8Project Event: Environmental clearance came in September 2018. Still, the internal discussion is ongoing, RFQ for the EPCM contractor is likely to be released in May 2021.

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A rank outsider is now trying to storm not just the downstream market but the midstream market as well.
8And this is causing some anxiety among the contractor community
8But clearly, this company is unwilling to give up until it makes an entry

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On March 17, 2021, the Delhi market saw a rise in ABS (HI121H) prices.

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The Chennai polymer market witnessed a decrease in C9 solvent prices today.

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On March 18, 2021, IPA prices drifted down in the Mumbai market.

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Prices for chloroform have been revised at Dahej.

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On March 18, 2021, ethanol prices increased in the Delhi market.

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The international crude oil price of Indian Basket was quoted at around $66.82 per barrel on March 18, 2021.

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A fall in VAM prices has been quoted in the Mumbai market.

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On March 18, 2021, Petrochem sources confirmed that Styrene Monomer prices have slipped in the Mumbai market.

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GNFC Group decreased aniline prices.

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Ethyl Acetate prices have been revised at EX-Satyam.

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Kandla port witnessed a rise in acrylonitrile prices today.

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Prices for benzene have been revised at Vizag.

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Mar 18, 2021: DEG prices revised

A revision in DEG prices has been announced at Hazira.

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Phosphoric acid prices inched up in Delhi today.

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On March 18, 2021, the Ahmedabad market witnessed a rise in ethylene dichloride prices.

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