Global Crude oil price of Indian Basket was US$ 28.34 per bbl on 12.02.2016

Global Crude oil price of Indian Basket was US$ 28.34 per bbl on 12.02.2016 

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 28.34 per barrel (bbl) on 12.02.2016. This was higher than the price of US$ 26.95 per bbl on previous publishing day of 11.02.2016.

In rupee terms, the price of Indian Basket increased to Rs 1939.52 per bbl on 12.02.2016 as compared to Rs 1833.30 per bbl on 11.02.2016. Rupee closed weaker at Rs 68.44 per US$ on 12.02.2016 as against Rs 68.02 per US$ on 11.02.2016. The table below gives details in this regard:

Price on February 12, 2016 
(Previous trading day i.e. 11.02.2016)                                                                  
Pricing Fortnight for 01.02.2016
(14 Jan to 27 Jan, 2016)
Crude Oil (Indian Basket)
              28.34             (26.95)              
          1939.52         (1833.30)       
Exchange Rate
              68.44             (68.02)

 Daily Crude Oil Price- 15.02.2016      

Petroleum & Natural Gas Minister Shri Dharmendra Pradhan To participate in the Make in India Conference today

The Minister of State (I/C) for Petroleum & Natural Gas Shri Dharmendra Pradhan will participate in the Make in India Conference cum Exhibition in Mumbai today. During the event, Ministry of Petroleum & Natural gas will showcase its efforts to contribute towards Make in India initiative.

Petroleum sector is one of the 25 priority sectors identified under Make in India initiative. The sector has huge potential to promote manufacturing in India in the ancillary and service industries which cater to the petroleum industry. Ministry of Petroleum & Natural Gas has taken several important steps towards promoting Make in India.

The Minister will be accompanied by senior officials from MoPNG and PSUs under the administrative control of MoPNG.

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