Global Crude oil price of Indian Basket was US$ 40.21 per bbl on 15.04.2016

Global Crude oil price of Indian Basket was US$ 40.21 per bbl on 15.04.2016
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$ 40.21 per barrel (bbl) on 15.04.2016. This was lower than the price of US$ 40.66 per bbl on previous publishing day of 14.04.2016.

In rupee terms, the price of Indian Basket decreased to Rs. 2671.41 per bbl on 15.04.2016 as compared to Rs 2700.85 per bbl on 14.04.2016. Rupee closed at Rs 66.43 per US$ on 15.04.2016. The table below gives details in this regard:

Price on April 15, 2016
 (Previous trading day i.e. 14.04.2016)                                                                  
Pricing Fortnight for 16.04.2016
(30 Mar to 12 Apr, 2016)
Crude Oil (Indian Basket)
 40.21                (40.66)         
 2671.41            (2700.85)       
Exchange Rate
 * RBI reference rate for 14.04.2016 & 15.04.2016 is not available. Therefore reference rate of 13.04.2016 has been considered.

 Daily Crude Oil Price- 18.04.2016      

 Petroleum Minister’s visit to Bangladesh from 17th to 19th April, 2016

Minister of State (I/C) for Petroleum & Natural Gas, Shri Dharmendra Pradhan, is on a three day visit to Bangladesh from 17th to 19th of April, 2016. The visit is to take stock of the ambitious agenda set for the India-Bangladesh Hydrocarbon Sector during the visit of Prime Minister, Shri Narendra Modi to Bangladesh in June 2015.

Shri Pradhan met Dr Tawfiq-e-Elahi Chowdhury, Adviser on Energy, Power and Mineral Resources to the Prime Minister of Bangladesh and Mr Nasrul Hamid, Minister of State for Power, Energy and Mineral Resources of Bangladesh. During the meetings, Shri Pradhan discussed issues in the bilateral Hydrocarbon Sector between the two countries. He also discussed modalities for sustainable supply of High Speed Diesel from Siliguri Marketing Terminal of Numaligarh Refinery Ltd (NRL) to Parbatipur Depot of Bangladesh Petroleum Corporation (BPC). Status of Indian proposals that have been shared with the Bangladeshi side, including on setting up of hydrocarbon related infrastructure project in Bangladesh, setting up of LPG import terminal at Chittagong by IOCL and the Indo-Bangla Friendship Pipeline were also discussed.

Shri Pradhan expressed confidence that early implementation of these projects will create win-win situation for both countries. He briefed his interlocutors on the status of seismic survey being carried out by ONGC Videsh Ltd in offshore blocks allocated to it by Bangladesh. MoU between IOCL and BPC on broad aspects of cooperation in downstream oil and gas sector opportunities in Bangladesh was signed in his presence. The MoU paves the way for discussion on setting up LPG import terminal at coastal belt of Chittagong district, marketing of LPG and developing related infrastructure in Bangladesh, transportation LPG from Chittagong to Tripura and any other form of Hydrocarbon sector related cooperation of common interest as may be agreed by IOCL and BPC. IOCL would also be conducting a feasibility study for construction of LPG import terminal and pipeline from Chittagong to Tripura.
On 19th April, 2016, Shri Pradhan will travel to Chittagong for a day visit where he is scheduled to witness the award of contract by Eastern Refineries Ltd to Engineers India Ltd for its expansion of its refinery by 3 MMTPA. 

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