Global Crude oil price of Indian Basket was US$ 30.38 per bbl on 15.02.2016

Global Crude oil price of Indian Basket was US$ 30.38 per bbl on 15.02.2016 

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$ 30.38 per barrel (bbl) on 15.02.2016. This was higher than the price of US$ 28.34 per bbl on previous publishing day of 12.02.2016.

In rupee terms, the price of Indian Basket increased to Rs 2070.04 per bbl on 15.02.2016 as compared to Rs 1939.52 per bbl on 12.02.2016. Rupee closed stronger at Rs 68.13 per US$ on 15.02.2016 as against Rs 68.44 per US$ on 12.02.2016. The table below gives details in this regard:

Price on February 15, 2016 
(Previous trading day i.e. 12.02.2016)                                                                  
Pricing Fortnight for 16.02.2016
(28 Jan to  11 Feb, 2016)
(Indian Basket)
    30.38             (28.34)              
 2070.04         (1939.52)       
Exchange Rate
  68.13             (68.44)

Daily Crude Oil Price- 16.02.2016     
Petroleum Minister meets Odisha Chief Secretary to discuss various projects 
The Minister of State (I/C) Petroleum & Natural Gas Shri Dharmendra Pradhan met Chief Secretary of Odisha in Mumbai yesterday on the sidelines of Make in India Conference cum Exhibition. The Minister was accompanied by Petroleum Secretary, senior officers of the Ministry and CMDs of HPCL, BPCL and senior officers of IOC. The Chief Secretary was accompanied by Development Commissioner cum Finance Secretary, Industry Secretary, MD, IDCO, and Commissioner, Commercial Tax.

The two sides discussed a roadmap to develop downstream petrochemical industry in and around Paradip which will be supported by the 15 MMTPA Paradip refinery. It was agreed that Indian Oil Corporation should adhere to the timelines for development of Polypropylene Plant and other projects which are at various stage of implementation. The Chief Secretary assured all support from Government of Odisha for the projects.

BPCL and HPCL requested the State Government for land in Koraput for a LPG plant on Common User Facility (CUF) basis. Representatives of Government of Odisha agreed to consider this favourably on priority basis.

Because of Presence of irrigated land at Maneswar, it was advised and jointly agreed in the meeting to develop a new location by BPCL and HPCL in and around Sambalpur in a non- irrigated land, with feasibility of Railway siding as a replacement of CUF Maneswar with assistance from Govt. of Odisha

The Petroleum Minister requested the State Government for allocation of land for early commencement of Hydrocarbon Skill Development Institute in Bhubaneswar, Odisha. The State Government representatives agreed for prompt action on this.

The Odisha Government made a request for an Aviation Fuel refuelling facility in Koraput district for the helicopters of the BSF and the State Government. The Minister agreed to this on a priority basis as Koraput is a Left wing Extremism affected district. 

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