Global Crude oil price of Indian Basket was US$ 29.89 per bbl on 17.02.2016

Global Crude oil price of Indian Basket was US$ 29.89 per bbl on 17.02.2016 
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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$ 29.89 per barrel (bbl) on 17.02.2016. This was lower than the price of US$ 31.48 per bbl on previous publishing day of 16.02.2016.

In rupee terms, the price of Indian Basket decreased to Rs 2050.06 per bbl on 17.02.2016 as compared to Rs 2151.20 per bbl on 16.02.2016. Rupee closed weaker at Rs 68.59 per US$ on 17.02.2016 as against Rs 68.34 per US$ on 16.02.2016. The table below gives details in this regard:

Price on February 17, 2016 
(Previous trading day i.e. 16.02.2016)                                                                  
Pricing Fortnight for 16.02.2016
(28 Jan to  11 Feb, 2016)
Crude Oil (Indian Basket)
  29.89             (31.48)              
  2050.06         (2151.20)       
Exchange Rate
   68.59             (68.34)

                                    Daily Crude Oil Price- 18.02.2016     
Signing of MoU Between IIPE and Andhra University 
Ministry of Petroleum and Natural Gas (MoPNG), Government of India has established Indian Institute of Petroleum and Energy (IIPE), Visakhapatnam, as noted in the Andhra Pradesh Reorganisation Act (2014), with the mandate to lead the nation forward in education, research and training related to all areas of Petroleum and Energy. A Memorandum of Understanding (MoU) has been signed on 4th February, 2016 between IIPE and Andhra University to start the IIPE sessions during the academic year 2016-17. The MoU is for a period of 3 years till the period IIPE sets up the infrastructure in its own premises.

The session of 2016-17 shall start using the resources of AU College of Engineering (A), viz., AU’s lecture halls, teaching laboratories, Library, Workshops, Office space, technological facilities so on and so forth. Mutual knowledge exchange amongst the two prestigious educational institutes shall be facilitated by giving opportunity to faculty members of IIPE to attend a set of lectures / course(s) at AU. Andhra University has assured of support in terms of knowledge and resources for IIPE operationalisation. The MoU is facilitated by Hindustan Petroleum Corporation Limited. 

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