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Jan 2017

The Detailed Feasibility Report (DFR) is under progress for a Rs 34 crore expansion of a petroleum products terminal
8Environment clearance is expected in April, 2017
8RFQs will be floated by mid-March, 2017
Equipment requirements will include:
8Loading / Unloading gantry 
8Storage Tanks
8Pipeline
8Pumps
Click on Details for more Details
No other companies believes as much as RIL does in the future of petrochemicals.
8The recent commissioning of the new PX plant marks the beginning of the culmination of a series of projects including the refinery off-gas cracker, ethane import project and petcoke gasification projects. 
8These projects are part of the largest contemporary investment, in excess of Rs 100,000 crore.
 Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Project Management Consultancy Services for EPCM works for Refrigerated Pipeline System Details
8All India Study on Sectoral Demand of Petrol and Diesel being sold from retail outlets of IOCL, BPCL and HPCL Details
8Engaging external agencies for unloading, seiving, loading of NHDT catalyst under inert media at CRU Unit, Digboi Refinery Details
8Annual Rate Contract for Pilferage and Leak Restoration and Maintenance works in Mainline under Sendra Base Details
8Guided Wave Radar Type Level Transmitter, Panipat Refinery & Petrochemical Complex Details
8Supply of Carbon Steel alloy steel pipes, Digboi Refinery Details
8Rate Contract for Expert services for maintenance jobs of Gas Turbines, Mathura Refinery Details
8Supply of Jacketed Ball Valve for SRU Phase III, Mangalore Details
8Expression Of Interest for sale of natural gas from Tarapur Block of CB-ON/2 Details
8Conducting Mutual Interference Survey between product pipeline and crude oil pipeline, Barauni Oil Refinery Details
8Mechanical Cleaning of Aerial Coolers of Gas Compressor Units, Assam Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8China's CNPC forecasts record oil demand, warns on product glut Details
8Iraq wants crude oil price around $65 per barrel, says oil minister Details
8OPEC secretary-general expects oil inventories to fall by second quarter Details 
8Oman says December oil output slightly lower Details
8Oil rises on China demand forecast, but ample supplies hold prices back Details
8Oil dips on rising U.S. crude inventories, plentiful global supplies Details
8Reliance, govt headed for a long battle in KG D6 dispute Details
8Modi photos on petrol pumps hoardings violate model code: Election Commission Details 
8India's gasoline thirst shows no sign of being slaked: John Kemp Details
8India’s Petronet LNG sees Kochi terminal at 40 pct capacity by 2019 Details
8Numaligarh Refinery exports high speed diesel to Bangladesh Details 
8Consumers, petrol pumps will not pay any extra charge for digital transactions, says Oil Minister Dharmendra Pradhan Details
8Jairam Ramesh seeks Sebi probe into ONGC's GSPC stake buy Details
You can also click on Newsclips for more    Details
An interesting paper on "India's energy needs and Arab-Persian Gulf" explores the the emerging relationships that Iran and Saudi Arabia are trying to forge with India given growing isolation from the US.
8The relationships with the two warring Gulf countries with India are sought to be explored independently.
8The two countries are now making efforts to move away from extremist religious views to modernizing their economies
8Saudi Arabia for example has found to their dismay that their ability to leverage the US has disappeared, making it vulnerable to all kinds of forces
Click on Reports to find out more Details
>A new LPG storage and bulk dispatch terminal is coming up
8The project envisages construction of 3 X 1450 MT Mounded Storage Vessels, 8 bays Tank Lorry Decantation Gantry, LPG Pump House (20M X 8M) and associated facilities.
8The approved cost of the project is 184 crores.
8EC is granted.
8Civil work is going on.
8RFQ will be floated for Mechanical work by March 2017. 
Business Opportunity, Equipment List :
 8Rotary Vane Pumps
8Gas Compressors 
8Displacement Flow Meters 
8Refueling Nozzles
Click on Details for more
Details
An expansion of an existing power plant is coming up, at a cost of around Rs 2500 crore
8The expansion was earlier pegged at Rs 2200 crore but there has been an addition of Rs 300 crore to the cost subsequently
8The EPC contract has already been awarded even though the project still hasn't left the planning phase
8The requirement of the long lead items like high efficiency engines and gas turbines will be released soon.
Click on Details for more Details
RFQs have started to be released for drilling of four onland gas wells
8Some other RFQ’s for the pipeline associated equipments and Air compressor will be released by the end of January 2017.
8The cost is around Rs 140 crore
Click on Details for more Details
The onland operator is planning a 35 well drilling programme as well
8The programme is expected to begin by the end of 2017
8RFQs will be floated accordingly
Click on Details for more Details
An onland operator is planning an expansion of the gas processing plant
8RFQs for booster compressor is expected to float by the month of April,2017.
8Construction is expected to start by the end of 3rd Quarter,2017.
Click on Details for more Details
A consultant has been appointed for a 300 km pipeline
8EPC selection is currently under progress
8The construction phase is expected to begin from Q-2, 2017
Click on Details to provide more details
   Details
Among the other RFQs which will be coming up are for drill pipes by June, 2017
8Drilling equipment and consumables by June, 2017
8Bulbs and Spacers by June, 2017
8Infrastructure development by mid-June, 2017
8Generators too in June, 2017
8There will also be a demand for ETP/STP at the drilling site to treat the effluents such as Mud, Slag and Water
Click on Details for more Details
MS consumption slowed down while HSD went up in December in comparison to November
8Overall however there is a dip in POL consumption on account of demonetization
8Overall, consumption is still to scale the heights reached in August, 2017
8Product-wise monthly consumption data is carried here for the period April-December, 2017
Click on Reports for more Details
An 18 well developmental drilling programme is coming up
8EC is expected in the third quarter of 2017
8The company however is facing some land acquisition problems
8The total cost of the project Rs 500 crore
8EOIs are expected by the second week of May, 2017
8RFQs will be floated for the rRigs by the end of July and tenders will be released subsequently.
8RFQs will float for the drilling equipments, drills, casing and riser pipes by May 2017.
8Drilling is expected to start in the last quarter of 2017.
8The drilling depth is expected to be in the range of 1200-1500 meters
Click on Details for more much more Details
For those interested, the website carries here the Model Contract for charter hire of rigs by ONGC
8This detailed contract is for offshore rigs
8The contract provides insights into what is needed if a rig supplier were to ready itself to bid for an ONGC rig tender
Click on Reports for more Details
Are the US shale gas productivity gains prodded on by lower oil and gas prices coming to an end.
8A new paper seems to denote that opportunities for further gains are now limited
8And soon only higher cost oil and gas reserves can be tapped, leading to a flaring up of breakeven costs
Click on Reports to know more Details
Commissioning of the Padur underground crude storage capacity is now expected by April, 2017
8The cost of the project outlay is Rs 1693 crore
Click on Details for more Details
8HPCL has put in an Expression of Interest to build the an LPG pipeline from Hassan to Cherlapalli
8Meanwhile, the PNGRB has come out with a notice seeking bids for a new Mundra Kandla LPG pipeline
8The website carries here a write-up on the business prospects of Bhagyanagar Gas Ltd, a city gas distribution company, which is a JV between GAIL and HPCL
Click on Reports for more Details
A leading petrochemical player is planning a Rs 4500 crore expansion of its naphtha capacity
8This is a massive expansion and environment clearance is expected by June, 2017
8Site preparation work is already over
8RFQs for pumps and compressors are to be floated very soon
Click on Details for more Details
A consultant has been appointed for a small city gas distribution pipeline coming up in a big city
8It is a three-phase project
8A tender is to be floated within ten days for line pipes
Click on Details for more Details
A maintenance shutdown is coming up in a big refinery
8The maintenance programme involves the FFCU MEROX PRU and the CRU
8It will be a 10-day shutdown
Click on Details for more Details
An electrical work tender is likely to be floated for an Indmax unit in which installation work is in progress
8Civil work on the Rs 2500 crore project is currently on
8The electrical tender will be floated by the end of the month
8The Rs 2500 crore project is to be commissioned by end of August, 2017
Click on Details for more Details
Another POL terminal is coming up with a gross storage capacity of 115,000 KL with product dispatch by road (16 bay gantry)
 -- The approved cost of the project is 375 crore.
 -- EC for the project was received on 18 April, 2016.
 --  Land Preparation has started.
 RFQ's for following equipments will be floated by Feb, 2017.
 8Equipment for Civil works
 8Valve 
 8Pipes 
 8Pumps
 8Tanks 
 --The project is set to be completed by April, 2018. Details
For reference purposes the website carries here the following tenders:
8Hiring of services for surveillance of pipeline by foot and mobile Patrolling in the state of Gujarat Details
8Supply of Chemicals and Industrial gases, Pata Details
8Supply of Tri-Sodium Phosphate, Pata Details
8Procurement of one logging unit without Surface System, Ankleshwar Details
83D Seismic Data Acquisition & processing in Transition Zone, Cambay Basin Details
8Procurement of Demulsifier for year 2017-18 for Cambay Asset Details
8Civil works at drill site LPEI in North Bank area, Assam Asset Details
8Operation and Maintenance of PTA ETP, Panipat Refinery Details
8Marine Quantum Surveying Work for LPG Vessels, Ennore Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8India's 2016 fuel sales growth highest in at least 16 years on low crude prices Details
8Digital Transactions at petrol pumps rise after note ban, comprise 30 per cent Details
8Govt looks to meet deadline for state-run firms to comply with public holding norms Details 
8Delhi HC asks Cairn India to initiate arbitration proceedings in Ravva oil field dispute Details
8Pradhan Mantri Ujjwala Yojana set to get a major boost as Oil Min set to appoint 2.5k new LPG distributor Details
8Demonetisation to hold back India's 2017 fuel demand growth Details
8Saudi cuts February oil exports to some buyers in India, Malaysia to meet OPEC deal Details
8BPCL raises $600 million through bond sale; NTPC plans to take same route soon Details 
8Government wants to know if it can recover $1.55 billion from RIL Details
8Asia's diesel profit may rise for first time since 2013 Details
8As OPEC cuts output, traders send European crude oil volumes to Asia Details 
8Mukesh Ambani promises exceeding investments by Rs 10,000 crore Details
You can also click on Newsclips for more    Details
For reference purposes the website carries here the following tenders:
8Carrying out 3D Broadband seismic data acquisition in Western offshore Details
8Carrying out 3D Conventional seismic data acquisition in Eastern and Western offshore Details
8Hiring of Multi-Purpose Fire Tender Services with crew for Drilling & Testing of Exploratory Wells in KG Basin, Andhra Pradesh Details
8Procurement of Mechanical Seal Spares, Guwahati Refinery Details
8Coating Refurbishment of Mainline with Geo Textile/Visco Elastic Tape coating, Gauridad Details
8Supply of Flowserve Seal Spares, Barauni Refinery Details
8Environmental impact assessment study and risk assessment study for upcoming project at Dumad near Gujarat Refinery Details
8Unloading and loading of catalyst in Hydrogen Generation Unit Reformer, Mathura Refinery Details
8Procurement of Pressure Transmitters, Panipat Refinery Details
8Complete Assembly for Heat Exchanger, Haldia Refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8Oil & Gas sector outperforms; HPCL top gainer in the sector Details
8Oil ends up as Saudi cut production Details
8India's fuel product sales rise 4.4% in December 2016 Details 
8Azerbaijan starts oil output cuts in line with OPEC deal - Ifax Details
8Asian energy firms hit by tumble in oil prices Details
8Union Budget 2017-18: Govt should address GST, demonetisation concerns, says Hartek Power Details
8India's 2016 fuel sales growth highest in at least 16 years Details
8Target of 1.5 crore LPG connections under PMUY for 2016-17 achieved: Petroleum Minister Dharmendra Pradhan Details 
8RIL to complete investment of Rs 1.25 L cr in Gujarat by March: Mukesh Ambani Details
8Asia needs natural gas, naturally Details
8Biggest Indian Refiner hunts oil assets as demand surges at home Details 
8UAE announces plan to invest $163 billion to diversify energy towards renewables Details
8Russian rouble recovers as crude oil prices stop falling Details
You can also click on Newsclips for more    Details
Torrent Power Ltd plans to break the monopoly of Gujarat State Petronet Ltd in supplying gas to its two power plants in Gujarat
8The plants are: the 1530 MW SUGEN mega power plant and the 1200 MW DGEN mega power plant
8Torrent has now applied for an alternative route with GAIL, through the DUPL-DDPL pipeline passing near the SUGEN power plant
8Torrent has applied for a link capable of transmitting 5.5 MMSCMD of gas
Click on Reports for more Details
The oil and gas sector has been on a losing spree in the stock markets of late
8What ails the sector
8Here is an analysis
Click on Reports for more Details
The volume of associated gas flared off by the global oil industry rose in the past five years, according to new World Bank data. Rapid growth in Iraq and the United States was responsible for most of the increase, more than offsetting reductions other countries.
8OPEC said in its monthly report its agreement to cut production, while speeding up the re-balancing of the global oil market, won't result in demand exceeding supply until the second half of 2017.
8The International Energy Agency (IEA) said the global oil market could turn into deficit as soon as the first half of 2017 if Opec and countries outside the cartel successfully execute the recent supply pact. IEA said the planned output cuts could lead to demand outstripping supply by as much as 600,000 barrels a day.
8Growth in global coal demand will stall over the next five years, according to the latest coal forecast from the International Energy Agency (IEA). The share of coal in the power generation mix will drop to 36% by 2021, down from 41% in 2014, the IEA said in the latest Medium-Term Coal Market Report.
8Cedigaz (an international association for natural gas) estimated additional nameplate liquefaction capacity in the world in 2016 should be around 19 million tonnes per year, dominated by Australia, according to the association's recent presentation. Significant increase of LNG exports from the country was observed from January through November adding 13.5 million tonnes (+52%) year-on-year. On the other hand Nigeria, Trinidad, and Yemen decreased exports.
Click on Reports for more Details
Bahrain LNG closed a USD 741 million syndicated loan. The LNG receiving project will have a capacity of 800 million standard cubic feet per day (6 million tonnes per year). Completion is expected in 2019.
8Israeli partners at the Leviathan gas field approved a goal to start gas production in 2019. Drilling will commence on an appraisal and production well in the first quarter of 2017. The first phase development calls for production of 12 bcm per year. While the Israeli partners include Delek Drilling and Avner Oil (22.67% each), and Ratio Oil (15%), a final investment decision for the development requires an approval from the field operator Noble Energy (39.66%).
8Gazprom and NIGC (National Iranian Gas Company) signed a memorandum of understanding (MOU).
8Shell has signed a memorandum of understanding (MOU) with National Iranian Oil Company (NIOC) "to further explore areas of potential cooperation."
Click on Reports for more Details
Among the other major developments are:
8The Department of Energy (DOE) (of the United States) authorized Southern LNG to export over 20 years up to 130 bcf (1 million tonnes) per year from its plant at Elba Island, Georgia to nations without a Free Trade Agreement (non-FTA nations) with the United States.
8The Department of Energy (DOE) granted the proposed 8 million tonnes per year Magnolia LNG liquefaction plant in Louisiana an export licence to countries without a free-trade agreement (non-FTA) with the United States.
8Sempra filed applications with the Federal Energy Regulatory Commission (FERC) for authorization to construct and operate the Port Arthur LNG facility. The project plans to start production in 2023.
8CME and ICE (Intercontinental Exchange) plan derivatives designed to ease the trading of LNG.
8Toshiba claimed that it has secured LNG sale commitments for more than half of its liquefaction tolling capacity of 2.20 million tonnes per year at the Freeport LNG project, in its second quarter result presentation made in November 2016.
8The LNG Canada consortium called for bids to find a new lead construction contractor while the project is under an indefinite delay.
Click on Reports for more Details
The website lists here a set of 100 different events which have impacted the LNG and gas market worldwide in December, 2016
Among those developments which are of interest are:
8ExxonMobil expects to deliver 7.9 million tonnes of LNG from Papua New Guinea in 2016, around 14% above nameplate capacity of its PNG LNG plant, the company's PNG head said. A lot of this LNG will be headed towards India
8Malaysia's Petronas produced first LNG from PFLNG SATU, the first froating LNG production unit in the world.
8Gorgon LNG Train 1 in Australia was taken offline from the end of November 2016 until the beginning of January 2017. The outage has contributed to the recent rally in Asian spot LNG prices.
8Excelerate Energy completed the geotechnical and geophysical studies for the Moheshkhali Floating LNG terminal in Bangladesh. The project is a joint effort between Excelerate and IFC. The project remains on schedule to receive its first LNG delivery in early 2018.
8Gail India was reportedly seeking reduction of prices of LNG under a long-term contract with Gazprom, that is for 2.50 million tonnes per year from 2018.
8Asian spot LNG prices surged in the first half of the month from the low-USD 7s at the end of November to a little over USD 9
8Höegh LNG signed an FSRU contract with GEIL for the first private LNG import terminal in Pakistan. In September 2016, GEIL signed a long-term LNG supply agreement with Qatargas.
8Mozambique approved changes to contracts with Anadarko and Eni to allow the two companies to sell the government's share of gas from the Rovuma Basin.
Click on Reports for more Details
With the budget around the corner, it is time for voluminous pre-budget memorandums.
8The usual tactic with such memorandums is to aim for the skies so as to be able to land on the treetops. In other words, the logic is that if the government is badgered by a 100 requests, at least a few will be granted.
The website carries here for reference purposes a total of 150 pre-budget proposals spanning all segments of the oil and gas industry, including:
8Direct taxes -- Income Tax
8Direct taxes -- Other issues
8Indirect Taxes -- Customs Duty
8Indirect Taxes -- Excise Duty
8Indirect Taxes -- General
Click on Reports for more Details
A 15-day refinery shutdown is coming up
8This is to instal a Distributed Control System in a Delayed Coker Unit
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Carrying out pipeline hydrotest at phase III units, Mangalore Details
8Execution of Instrumentation jobs for various process schemes, Gujarat Refinery Details
8Supply of fixed type Hydrocarbon Gas Detector, Barauni Refinery Details
8Desludging of Crude Oil Storage Tanks at WRPL, Viramgam Details
8Procurement of MS pipes as per technical specification, Digboi Refinery Details
8Supply of Stack Gas Analyser Systems for BS VI Project Details
8Hiring of service contract for monitoring of environmental parameters at BCPL Lepetkata, Lakwa, GDU-Duliajan Details
8Procurement of Ball Valves for spurlines of Phulpur-Haldia Pipeline Project Details
8Procurement of Cable Free Node Based Seismic Data Acquisition System and Cable Telemetry Seismic Data Acquisition System Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8MDR costs not to be passed on to petrol outlets: Oil Minister Details
8Global crude oil price of Indian Basket at $ 55.06 per bbl Details
8Demonetisation: Customers can pay at petrol pumps via cards for no extra charge: Government Details 
8Iraq gives full February crude supply to three Asia, Europe buyers despite OPEC cut Details
8Oil prices fall as Iran crude tanker exports surge, US adds more rigs  Details
8Union Budget 2017-18: Oil industry demands exemption of GST, service tax on LNG transportation, re-gasification Details
8Fuel buyers, petrol pumps won’t be hit: Govt on card payments Details
8ONGC gets price guarantee from GSPC in KG deal Details 
8Key budget announcements in the energy sector last year: A recap Details
8Despite GSPC buyout, ONGC financials strong enough, says S&P Details
8Govt tells IOC, HPCL, BPCL to double dividend payout Details 
You can also click on Newsclips for more    Details
The commissioning of an LNG terminal has been now put off
8The commissioning is now Q-2, 2017
8The first phase is for 5 MMTPA
8So LNG carriers will not be winging their way to the terminal before this deadline
Click on Details for more Details
An onland exploratory well has been successfully drilled and development work is expected to follow soon afterwards
8The gas will be taken out to the nearest gas gathering station
8The RFQs for post drilling activities has been finalized and the tenders are to be released by next week
Click on Details for more Details
ONGC has decided to merge its requirement for Subsea Production System and the Sub Sea Umblical Riser and Flow Lines (SURF) requirements in the KG-DWN-98/2 block into one gigantic integreted tender worth a massive $ 2 billion.
8But then it is struggling to fit in the demands of the vendors who may apply for the tender
8Most of the vendors this website spoke to seems to be scared about taking part in such a gigantic tender when some of the fundamentals such as HPHT conditions, treacherous geology and rough weather can create havoc and delay timelines.
8The vendors have go together and put forward a set of conditions on which they will be more favorably inclined to bid
Click on Details to find out more Details
The ONGC top brass, made up of the chairman and other functional directors, however came up with a surprise decision on the proposal put together by various vendors for the project
8The  management was caught between keeping to the project deadline while expediting the contracting process for the gigantic development.
Click on Details to find out more Details
The vendors had put together a limited liability consortium approach for the $ 2 billion contract
8Major vendors were shying away from bidding directly.
8The idea seemed to be to push the risk element back to ONGC
Click on Details to find out more on what was it that the vendors in their meetings with ONGC officials had proposed Details
A Rs 300 crore crude storage facility is coming up
8Environmental clearance is expected in July, 2017
8PFR has been completed
8The project will be completed in two phases
Click on Details for more Details
A Rs 325 crore desalinization plant is coming up
8Fresh terms of reference was granted recently
8Environment clearance is expected in July, 2017
8RFQs are coming up in January for turbine driven pump
8The RFQs for some other long lead item are to be floated in March 2017.
8The tender for the infrastructural base will be released by the end of next month.
8The energy recovery devices are to be installed but they are still under consideration by ONGC
Click on Details for more Details
A multi-user liquid terminal project is to be commissioned in February, 2018
8Construction is going on at present
8Requirement for shipping and raw materials via the port will come up upon completion of the project
8The capacity is project is around 4 MMTPA
8The pipeline work is being done by IOC
Click on Details for more Details
Work is going on in a 350 km naphtha pipeline project
8But some RFQs are still to be out
8A civil works tender is likely in February, 2017
Business opportunities exist for:
8Pipe benders
8Automatic welders
8High Resolution Smart MFLs
Click on Details for more Details
A tender is to be floated in February, 2017 for a CDU unit under a Rs 21,000 crore refinery expansion project
8Land preparation is complete
8EC stands granted
8The expansion was originally meant to be completed in 48 months but now they are aiming at 42 months
Click on Details for more Details
Gross under recoveries (GURs) of oil marketing companies will go down to around Rs 18,000 crore in FY2017 (with average Indian basket crude oil price of US$55/bbl and INR/US$ of 68 for the rest of FY2017). Despite recent spike in crude oil prices, the GURs would fall due to lower prices in first 8M FY2017, gradual monthly increase in prices of kerosene and LPG, DBTL leading to cancellation of fake accounts, surrender of LPG subsidy under the GiveItUp campaign and secular decline in allocation of SKO to the states under PDS. Sustained increase in crude oil prices and INR/US$ rate would be key sensitivities for GURs.
8The point to note is that the existing under-recovery sharing formula, low crude prices and gradual increase in prices of kerosene has resulted in a nil under-recovery burden for PSU upstream companies when crude prices stay in the range of $55-60/bbl.
8Over the medium term, an upside to crude oil production is expected to be driven by Cairn ramping up production of its Rajasthan asset, ONGC commercialising its marginal fields in addition to enhanced oil recovery/improved oil recovery (EOR/IOR) initiatives of ONGC and OIL.
8However even after factoring in the increase in production, dependence on import of
crude oil is expected to remain high, given the large demand–supply gap and the growth in domestic consumption of petroleum products.
8The outlook for the Indian upstream segment is negative due to the challenging pricing environment
Click on Reports for more Details
8A perusal of freshly released data show that oil production from India's equity oil holdings abroad has seen a decline over the past five years. On the other hand, gas production has gone up.
Click here for more.
8The burden sharing on under recoveries have gone down over this five years as had the burden borne by oil marketing companies and upstream companies.
Click here for more.
8The Economist Intelligence Unit has cut the growth forecast for India in 2016-17 due to demonetization but expects growth to remain strong in the medium term.
Click here for more.
8There is also new data here on the import and export of petroleum products and LNG over a five year period
Click here for more. Details
The glass is either half empty or half full depending upon your point of view
8While some have bandied the response to the auction of 67 discovered small oil & gas fields as a big success others found the response muted.
8Although bids were received for all the onshore contract areas and on an average 4.6 bids were received per contract area, the response for offshore area was weak as only eight out of 20 contract areas received bids with average 1.8 bids per contract area receiving the bid.
8Thus, 12 offshore areas including four of KG basin which was perceived as prolific earlier did not attract any bids. Further, 14 contract areas received single bid leaving no option for the GoI to choose from and reflected lack of interest from E&P companies.
8Indian and global oil majors like Reliance Industries Ltd (RIL), BP Plc, Exxon Mobil, Chevron did not participate in the bidding process primarily due to soft oil and gas prices and small size of acreage being put on offer and the overhead cost required to bring them to production thereby making them unattractive.
Click on Reports for more Details
Get the latest cost estimate made by EIL for the Barmer refinery which has been on the drawing board for over four years now.
8The latest cost has been scaled up over the previous estimate
8The PFR is in progress
8EIL Is the EPC contractor
8Land selection is currently on
Click on Details for more Details
Installation work is going on for a petrochemical complex
The following RFQs are to be floated by the end of this month:
8Circuit Breakers
8Magnetic Starters 
8Transformers 
8Enclosures
8Relays
8Conduit Fittings
Click on Details for more Details
Going ahead, the newly negotiated rates are likely to set even lower price benchmarks for all future rig hires of similar nature
8The negotiated rates are lower than those elicited for the rigs FG Mcclintock & CE Thornton, for whom LOAs were placed in October, 2015.
8HPHT rig prices are also likely to go down.
8Future bidders must take note of the new rates
Click on Details for more Details
ONGC has been able to force a massive cut in day rates for set of three rigs for one month extensions after their three year contract periods
8The rigs are: Shelf Drilling Offshore Ltd's Trident XII, Dynasty Oil & Gas Pvt Ltd's Victory Driller and Great Ship (India) Ltd's Great Drill Chetna
8The rates were slashed by more than 40%
Click on Details for more Details
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