Page 154 - CW E-Magazine (17-12-2024)

Hydrocarbons

OIL SECURITY
Kuwait Petroleum explores strategic oil storage

in India

Kuwait Petroleum Corporation Strategic Petroleum Reserve (SPR) 4-mt in Chandikhol, Odisha, and 2.5-mt
(KPC), the state-owned oil company of were shared with KPC in November in Padur, Karnataka. These facilities
Kuwait, has shown interest in storing 2022. “Participation of Kuwait Petro- will operate under a public-private part-
crude oil in India’s strategic petroleum leum Company in Phase II of the SPR nership (PPP) model, as approved by
reserves, joining Abu Dhabi National programme of India is one of the new the Union Cabinet in 2021. The MEA
Oil Company (ADNOC) and Saudi areas of cooperation being explored,” stated that Indian Strategic Petroleum
Aramco as potential participants in the the ministry said in a response tabled in Reserve Ltd. (ISPRL), the custodian
second phase of the project. Parliament on December 3. of the country’s strategic reserves, has
been engaging Gulf Cooperation Coun-
The Ministry of External Affairs KPC’s interest comes as India looks cil (GCC) nations for investment in
(MEA) informed the Parliamentary to expand its strategic crude oil storage Phase II. Saudi Aramco and ADNOC
Committee on External Affairs that capacity under Phase II, which includes have also been informed of opportuni-
details of the second phase of India’s building caverns with capacities of ties to participate.
ONGC hikes stake in OPaL through investment of Rs. 10,501-crore

Oil & Natural Gas Corporation on a right basis. The move was made shore Azerbaijan oilfi eld from Norway’s
(ONGC). increased its stake in ONGC to facilitate the goal for further ver- state-owned Equinor for $60-mn.
Petro additions Ltd. (OPaL) from tical integration of ONGC to down-
94.57% to 95.69% by investing stream petrochemicals, according to the OPaL was incorporated on Nov.
Rs. 10,501-crore in the subsidiary, company. 15, 2006, and has a plant in the Dahej
according to an exchange fi ling. ONGC Special Economic Zone in Gujarat’s
has been allotted 490.6 crore shares In November, ONGC Videsh Ltd., Bharuch district, with a capacity of
of OPaL having a face value of Rs. 10 a wholly owned subsidiary of ONGC, 1.4-mtpa of polymers and 0.5-mtpa of
each by way of subscription of shares acquired an additional stake in an off- chemicals.

Adani’s Krishnapatnam Port gets Govt. nod to import
petroleum

The Central Government has Ports Committee (NSPC) from August Adani Group company Adani Ports
allowed the Adani Group-owned port 25, 2024, to March 1, 2026. “This addi- and SEZ represents a large network
at Krishnapatnam in Andhra Pradesh to tional port will help India refi ne more of ports with India’s largest SEZ at
import petroleum into India by sea in crude oil on its east coast and improve Mundra. The port business is integral
“public interest”. energy cost effi ciency amid rising inter- to the conglomerate’s logistics business
national fuel prices,” the government and is India’s largest private port operator,
Considering the necessity of im- notifi cation said. with a presence across 13 locations.
porting petroleum in the public interest,
the government extended the notifi ca- BPCL inks pact with Coal India for setting up

tion for Krishnapatnam Port in Andhra coal to SNG plant
Pradesh (Adani Krishnapatnam Port
Ltd.) to import petroleum into India by Bharat Petroleum Corporation Ltd. up a coal-to-synthetic natural gas (SNG)
sea. (BPCL) has announced that it has signed project. Under the MoU, both the com-
a non-binding memorandum of under- panies will explore the establishment of
These imports shall be by operations standing (MoU) with Coal India Ltd. a coal-to-SNG project at Western Coal-
permitted in the Navigational Safety at (CIL) on December 2, 2024 for setting fi elds through surface coal gasifi cation.

154 Chemical Weekly December 17, 2024

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