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Archives
All the news items since the launch of our web site are preserved in the archive section. The archive entries are freely accessible to all the users.
May 2017
Our project monitoring software has begun kicking in more information on future business development opportunities. As we go along we will be able to provide dozens of updates every day.
8A Rs 20 crore POL terminal expansion is coming up, with RFQs in July
8A Rs 30 crore greenfield LPG bottling plant: RFQs for long lead items in June
The data is arranged in the following format:
8Project name
8Cost
8Project description
8Capital approval, RFQ, Release, Start-Up and Commissioning dates
8Key contacts with address and telephone numbers
Click on Details for more Details
8A Rs 20 crore POL terminal expansion is coming up, with RFQs in July
8A Rs 30 crore greenfield LPG bottling plant: RFQs for long lead items in June
The data is arranged in the following format:
8Project name
8Cost
8Project description
8Capital approval, RFQ, Release, Start-Up and Commissioning dates
8Key contacts with address and telephone numbers
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Pre-Qualification Criteria for hiring of FPSO for NELP Block KG-DWN-98/2 Development Project Details
8Procurement of Calibration Gases for Dahej Plant Details
8Procurement of Industrial Gases (Oxygen, Acetylene and Nitrogen Gas) through Rate Contract for a period of 3 years Details
8Procurement of Mobile Screw Air Compressor for Cambay Asset Details
8Supply of Hydroxyl Ethylene Diphosphonic Acid Details
8Hiring of services of Integrated Vessels Details
8Procurement of DG Sets for Cambay Asset Details
8Supply of Sodium Hexameta Phosphate Details
8Decoking by Mechanical Pigging method of furnace tubes of Vacuum Unit furnace at refinery Details
8Miscellaneous hot & cold jobs including piping, maintenance of columns, vessels with its resources at refinery Details
8Design, Supply, Inspection, Testing and shipment of Portable Clamp on Ultrasonic Flow Meters along with accessories Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Eni wins 15-year contract for LNG supply in Pakistan Details
8SAT admits RIL plea against Sebi ban; next hearing on Aug 8 Details
8IMF says more reforms still needed by Middle East crude oil exporters Details
8Asian jet fuel profits plunge to nine months low on record China, India exports Details
8CNPC loads first crude oil into Myanmar-China pipeline Details
8Sri Lanka to go ahead with proposed oil deal with India: Government Details
8CBI nabs Mumbai IT commissioner, Essar MD Pradip Mittal in bribery case Details
8India plans to cut oil imports from Iran by about 25% Details
8Iran delay in oilfield contract leads to cracks in Tehran-Delhi ties Details
8Oil settles slightly higher; trading volatile Details
8India decides to cut oil imports from Iran over Farzad-B natural gas field row Details
8Gail India seeks three LNG cargoes in H2 2017 - trade sources Details
You can also click on Newsclips for more Details
8Pre-Qualification Criteria for hiring of FPSO for NELP Block KG-DWN-98/2 Development Project Details
8Procurement of Calibration Gases for Dahej Plant Details
8Procurement of Industrial Gases (Oxygen, Acetylene and Nitrogen Gas) through Rate Contract for a period of 3 years Details
8Procurement of Mobile Screw Air Compressor for Cambay Asset Details
8Supply of Hydroxyl Ethylene Diphosphonic Acid Details
8Hiring of services of Integrated Vessels Details
8Procurement of DG Sets for Cambay Asset Details
8Supply of Sodium Hexameta Phosphate Details
8Decoking by Mechanical Pigging method of furnace tubes of Vacuum Unit furnace at refinery Details
8Miscellaneous hot & cold jobs including piping, maintenance of columns, vessels with its resources at refinery Details
8Design, Supply, Inspection, Testing and shipment of Portable Clamp on Ultrasonic Flow Meters along with accessories Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Eni wins 15-year contract for LNG supply in Pakistan Details
8SAT admits RIL plea against Sebi ban; next hearing on Aug 8 Details
8IMF says more reforms still needed by Middle East crude oil exporters Details
8Asian jet fuel profits plunge to nine months low on record China, India exports Details
8CNPC loads first crude oil into Myanmar-China pipeline Details
8Sri Lanka to go ahead with proposed oil deal with India: Government Details
8CBI nabs Mumbai IT commissioner, Essar MD Pradip Mittal in bribery case Details
8India plans to cut oil imports from Iran by about 25% Details
8Iran delay in oilfield contract leads to cracks in Tehran-Delhi ties Details
8Oil settles slightly higher; trading volatile Details
8India decides to cut oil imports from Iran over Farzad-B natural gas field row Details
8Gail India seeks three LNG cargoes in H2 2017 - trade sources Details
You can also click on Newsclips for more Details
Even though this website remains a little skeptical of the claims made by ONGC, the company itself seems to say that its gas production will grow at an annual rate of 10-15% over the next three years.
8ONGC expects Daman/C26 fields to add 4.5 mmscmd to production in FY18.
8S1 and Vashishta gas fields would add 1.5 mmscmd while WO16 would add 1.2mmscmd in FY18.
8IOR at the Bassein field is expected to add 3.9 mmscmd in FY19. In the longer run, Cluster-2 at KG DWN-98/2 would add a peak production of ~16 mmscmd.
8ONGC has also guided that oil production from nominated fields would increase. The WO16 field would add 3,800 bopd in FY18 while Vasai East is likely to add another 4,800 bopd.
8Ratna & R-series would add 3,000 bopd in FY19 along with 8,000 bopd from B127 and 5,000 bopd from Assam.
8Ratna & R-series would peak at 14,700 bopd in FY20. Production from Cluster-2 would commence in FY21, with peak expected at 77,000 bopd.
8The incremental oil output will counter the decline from its ageing oil fields
Click on Reports for more Details
8ONGC expects Daman/C26 fields to add 4.5 mmscmd to production in FY18.
8S1 and Vashishta gas fields would add 1.5 mmscmd while WO16 would add 1.2mmscmd in FY18.
8IOR at the Bassein field is expected to add 3.9 mmscmd in FY19. In the longer run, Cluster-2 at KG DWN-98/2 would add a peak production of ~16 mmscmd.
8ONGC has also guided that oil production from nominated fields would increase. The WO16 field would add 3,800 bopd in FY18 while Vasai East is likely to add another 4,800 bopd.
8Ratna & R-series would add 3,000 bopd in FY19 along with 8,000 bopd from B127 and 5,000 bopd from Assam.
8Ratna & R-series would peak at 14,700 bopd in FY20. Production from Cluster-2 would commence in FY21, with peak expected at 77,000 bopd.
8The incremental oil output will counter the decline from its ageing oil fields
Click on Reports for more Details
Gas is not longer only competing with coal but also with wind and solar power
8Government subsidies have helped wind and solar get a foothold in global power markets, but economies of scale are the true driver of falling prices.
8Unsubsidized wind and solar are beginning to outcompete coal and natural gas in an ever-widening circle of countries.
8Clean energy installations broke new records worldwide in 2016, and wind and solar are seeing twice as much funding as fossil fuels.
Click on Reports for more Details
8Government subsidies have helped wind and solar get a foothold in global power markets, but economies of scale are the true driver of falling prices.
8Unsubsidized wind and solar are beginning to outcompete coal and natural gas in an ever-widening circle of countries.
8Clean energy installations broke new records worldwide in 2016, and wind and solar are seeing twice as much funding as fossil fuels.
Click on Reports for more Details
An Asian LNG hub is unlikely to work, according to fresh research that has just come in.
8Although the U.S. hub follows the physical hub model and the European hubs the virtual hub model, they nonetheless have one thing in common – they are all mature pipeline markets providing geographical interconnectivity with limited reliance on LNG. As such the price of LNG in those markets may more reasonably be assumed to reflect genuine demand for gas across the geographical range of pipeline connectivity.
8Geographical interconnectivity between Japan, South Korea, Taiwan, China and India (or between Singapore and its ASEAN partner-countries) is unlikely to arise and if it did, it may not facilitate the creation of a cross-border market with sufficient deregulation, liberalisation, integration and liquidity.
8Therefore, most likely, localised (i.e., not cross-border) markets may, at best, arise but would not correlate to each other.
8Recent market shifts of cargoes from North-East Asia towards the Middle East demonstrate how new technology, such as FSRUs or FLNG, can have a greater impact on market dynamics than the existence of a natural gas hub. It also challenges the case that any one Asian country or region can or should set the price for the rest of Asia. The logical inference from this is that a greater regionalisation of LNG prices for Asia could materialise. In turn, this fragmentation will impact on liquidity, which is already sparse.
8Competition between, among others, Japan and Singapore to develop a natural gas trading hub, competition between pricing benchmark providers and competition between large market stakeholders, all of whom are seeking to take advantage of the transition away from oil pricing, will, in the short term, fragment the little liquidity that exists in the Asian LNG spot markets. New additional LNG spot Asian benchmarks are being launched regularly which simply further fragments liquidity
8An alternative to having its own Asian reference price may be to use U.S. or European reference prices, with the differential of cost of transport. However, as previously mentioned, this means that Asian supply and demand dynamics will have no direct influence on the Asian LNG spot price.
Click on Reports to find out more. Details
8Although the U.S. hub follows the physical hub model and the European hubs the virtual hub model, they nonetheless have one thing in common – they are all mature pipeline markets providing geographical interconnectivity with limited reliance on LNG. As such the price of LNG in those markets may more reasonably be assumed to reflect genuine demand for gas across the geographical range of pipeline connectivity.
8Geographical interconnectivity between Japan, South Korea, Taiwan, China and India (or between Singapore and its ASEAN partner-countries) is unlikely to arise and if it did, it may not facilitate the creation of a cross-border market with sufficient deregulation, liberalisation, integration and liquidity.
8Therefore, most likely, localised (i.e., not cross-border) markets may, at best, arise but would not correlate to each other.
8Recent market shifts of cargoes from North-East Asia towards the Middle East demonstrate how new technology, such as FSRUs or FLNG, can have a greater impact on market dynamics than the existence of a natural gas hub. It also challenges the case that any one Asian country or region can or should set the price for the rest of Asia. The logical inference from this is that a greater regionalisation of LNG prices for Asia could materialise. In turn, this fragmentation will impact on liquidity, which is already sparse.
8Competition between, among others, Japan and Singapore to develop a natural gas trading hub, competition between pricing benchmark providers and competition between large market stakeholders, all of whom are seeking to take advantage of the transition away from oil pricing, will, in the short term, fragment the little liquidity that exists in the Asian LNG spot markets. New additional LNG spot Asian benchmarks are being launched regularly which simply further fragments liquidity
8An alternative to having its own Asian reference price may be to use U.S. or European reference prices, with the differential of cost of transport. However, as previously mentioned, this means that Asian supply and demand dynamics will have no direct influence on the Asian LNG spot price.
Click on Reports to find out more. Details
So what really will the right solution for Asia?
8Consensus on a single price can be built in a number of different ways
8The (long overdue) standardisation of spot industry contracts (e.g., MSPAs) which will have the effect of increasing OTC trade in spot LNG and, therefore, trigger the need for greater hedging. If other commodity products, such as oil, coal and iron ore, can have industry standard contracts, why cannot LNG?
8Ensuring the benchmark works in the first place (e.g., DES vs. FOB, right vessel size, quoted regularly, etc.) would be key.
8This begs the question as to whether the right benchmark already exists or an entirely new one is still needed.
8Is a virtual LNG hub more suitable for Asia?
Click on Reports for more Details
8Consensus on a single price can be built in a number of different ways
8The (long overdue) standardisation of spot industry contracts (e.g., MSPAs) which will have the effect of increasing OTC trade in spot LNG and, therefore, trigger the need for greater hedging. If other commodity products, such as oil, coal and iron ore, can have industry standard contracts, why cannot LNG?
8Ensuring the benchmark works in the first place (e.g., DES vs. FOB, right vessel size, quoted regularly, etc.) would be key.
8This begs the question as to whether the right benchmark already exists or an entirely new one is still needed.
8Is a virtual LNG hub more suitable for Asia?
Click on Reports for more Details
GAIL Gas Ltd has come in for severe criticism by independent auditors for its inability to meet its targets set by the PNGRB.
8It has fallen short of target in the laying of steel pipelines, construction of CNG stations and the number of domestic connections in all its territories
8The operation losses incurred in setting up CNG stations outside its authorized geographical areas have also come in for criticism as also the setting up stations without necessary authorization
8The company also seems to have a poor track record on recovery of dues
8Its financial practices have also come in for scrutiny, including non-adherence to PNGRB regulations in maintaining separate books of accounts and other systemic lapses
Click on Reports for more Details
8It has fallen short of target in the laying of steel pipelines, construction of CNG stations and the number of domestic connections in all its territories
8The operation losses incurred in setting up CNG stations outside its authorized geographical areas have also come in for criticism as also the setting up stations without necessary authorization
8The company also seems to have a poor track record on recovery of dues
8Its financial practices have also come in for scrutiny, including non-adherence to PNGRB regulations in maintaining separate books of accounts and other systemic lapses
Click on Reports for more Details
For reference purposes, the website carries here a ranking of top 30 port cities in the world in terms of:
8Shipping infrastructure in terms of ownership and tonnage
8Shipping finance and law infrastructure
8Ports and logistics
8Maritime technology
8Attractive and competitiveness
8No Indian city figures in the list
8Find out more on the parameters that went into the rankings and which cities are included in the list
Click on Reports Details
8Shipping infrastructure in terms of ownership and tonnage
8Shipping finance and law infrastructure
8Ports and logistics
8Maritime technology
8Attractive and competitiveness
8No Indian city figures in the list
8Find out more on the parameters that went into the rankings and which cities are included in the list
Click on Reports Details
What is not known is that ONGC's KG-DWN-98/2 is not the only development block in the country where there is an active SPS-cum-SURF tender active in India.
8Find out more on the other SURF tender that is active as of the moment
8Increasingly now, companies are combining their SPS and SURF tenders for more value for money
8Then again, clients are now bringing in SPS and SURF contractors earlier into their projects than before
8In return, clients are getting assurance of delivery within cost and time parameters
Click on Reports to find out more Details
8Find out more on the other SURF tender that is active as of the moment
8Increasingly now, companies are combining their SPS and SURF tenders for more value for money
8Then again, clients are now bringing in SPS and SURF contractors earlier into their projects than before
8In return, clients are getting assurance of delivery within cost and time parameters
Click on Reports to find out more Details
8OPEC is certain to extend cuts in oil output when its ministers meet later in May and will need to keep limiting production until as late as the end of 2018
-- The reaction of global crude inventories to the cuts will determine how long the Organization of Petroleum Exporting Countries and allied producers stick with their policy of pumping less oil to counter a global glut
-- There is the possibility that oil may drop to as low as $40 a barrel if U.S. stockpiles increase.Click on Report for more.
8India counters China in Sri Lanka: LNG plant to be set up.Click on Report for more.
8Find out more on why India is the second most important market for Australia after China
Click on Reports for more Details
-- The reaction of global crude inventories to the cuts will determine how long the Organization of Petroleum Exporting Countries and allied producers stick with their policy of pumping less oil to counter a global glut
-- There is the possibility that oil may drop to as low as $40 a barrel if U.S. stockpiles increase.Click on Report for more.
8India counters China in Sri Lanka: LNG plant to be set up.Click on Report for more.
8Find out more on why India is the second most important market for Australia after China
Click on Reports for more Details
8RFQs for trenching and laying works for a 100 km stretch of a gas pipeline will be floated by July, 2017
8A Rs 28 crore LPG bottling expansion project: RFQs for civil works in June, 2017
Click on Details for full project description and key contacts and phone numbers Details
8A Rs 28 crore LPG bottling expansion project: RFQs for civil works in June, 2017
Click on Details for full project description and key contacts and phone numbers Details
8Insulation work involving an FCCU unit is coming up during a refinery turnaround
8Mechanical maintenance work coming up in turnaround for another refinery
8A new crude oil pipeline is coming up: RFQs by Aug, 2017
8Refinery expansion: Inspection contractor to be hired soon
Click on Details for more Details
8Mechanical maintenance work coming up in turnaround for another refinery
8A new crude oil pipeline is coming up: RFQs by Aug, 2017
8Refinery expansion: Inspection contractor to be hired soon
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Supply of Portable Gas Detectors Details
8Packing of B20 Bio-Diesel in 210 ltrs barrels Details
8Supply and Installation of Refinery Gas Analyser at refinery Details
8Supply and Installation of Detailed Hydrocarbon Analyzer at refinery Details
8M&I jobs for internal inspection of LPG Horton Spheres and Mounded Bullets in offsite area of refinery Details
8Pre-Feasibility Study for West Coast Refinery and Petrochemical Limited Details
8Supply of Pipe Fittings as per technical specification at refinery Details
8Procurement of General Maintenance Consumables on Rate Contract Basis for KG-OSN-2001/3 Block Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Russian oil output declines, almost at global pact target Details
8Amid STF action on UP petrol pumps, owners go on strike Details
8BP's first quarter profit triples on higher crude oil prices, output, cost cutting Details
8BS-III vehicles ban: Two-wheeler industry took Rs 600 crore hit Details
8Saudis take 100 per cent control of America's largest oil refinery Details
8Big short position on biofuels generated profit for Icahn's refiner Details
8Oil edges down as Libya output hits highest since 2014 Details
8Bengaluru may get 2 waste-to-energy plants in two years Details
8Petrol pump chip scam: Delhi-based gang under radar, states asked to inspect fuel outlets Details
8Sudan denies licence extension to ONGC Videsh; seeks higher taxes Details
8TAPI gas pipeline to be completed by Dec 2020 Details
8India cuts oil import plans from Iran by a quarter over gas field row Details
8From coal production to renewable power obligations: NITI Aayog lays down its 3-year agenda for India's energy sector Details
You can also click on Newsclips for more Details
8Supply of Portable Gas Detectors Details
8Packing of B20 Bio-Diesel in 210 ltrs barrels Details
8Supply and Installation of Refinery Gas Analyser at refinery Details
8Supply and Installation of Detailed Hydrocarbon Analyzer at refinery Details
8M&I jobs for internal inspection of LPG Horton Spheres and Mounded Bullets in offsite area of refinery Details
8Pre-Feasibility Study for West Coast Refinery and Petrochemical Limited Details
8Supply of Pipe Fittings as per technical specification at refinery Details
8Procurement of General Maintenance Consumables on Rate Contract Basis for KG-OSN-2001/3 Block Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Russian oil output declines, almost at global pact target Details
8Amid STF action on UP petrol pumps, owners go on strike Details
8BP's first quarter profit triples on higher crude oil prices, output, cost cutting Details
8BS-III vehicles ban: Two-wheeler industry took Rs 600 crore hit Details
8Saudis take 100 per cent control of America's largest oil refinery Details
8Big short position on biofuels generated profit for Icahn's refiner Details
8Oil edges down as Libya output hits highest since 2014 Details
8Bengaluru may get 2 waste-to-energy plants in two years Details
8Petrol pump chip scam: Delhi-based gang under radar, states asked to inspect fuel outlets Details
8Sudan denies licence extension to ONGC Videsh; seeks higher taxes Details
8TAPI gas pipeline to be completed by Dec 2020 Details
8India cuts oil import plans from Iran by a quarter over gas field row Details
8From coal production to renewable power obligations: NITI Aayog lays down its 3-year agenda for India's energy sector Details
You can also click on Newsclips for more Details
How can digital tools help boost the E&P business
8In an example of its simplest application on a typical engineering project, analytics and data management solutions offered by IBM have the potential to halve the costs associated with document handling. Within the oil and gas sector, companies spend a significant percentage of a project’s total cost on reporting.
8When looking at an average billion-dollar capital project, the cost of managing documents and data could reach tens of millions of dollars. Through this solution, a company could shave these costs in half, further stressing the importance of the right approach.
8At a more advanced level, data enables an energy company who has embraced a digital transformation to analyse and gain insights across its assets which can lead to the extended life of important components and expensive instruments. This in turn increases investment returns from the assets, delivering operational excellence and a positive financial impact.
8The ROI is further amplified when the transformation is approached across verticals.
Click on Reports for more Details
8In an example of its simplest application on a typical engineering project, analytics and data management solutions offered by IBM have the potential to halve the costs associated with document handling. Within the oil and gas sector, companies spend a significant percentage of a project’s total cost on reporting.
8When looking at an average billion-dollar capital project, the cost of managing documents and data could reach tens of millions of dollars. Through this solution, a company could shave these costs in half, further stressing the importance of the right approach.
8At a more advanced level, data enables an energy company who has embraced a digital transformation to analyse and gain insights across its assets which can lead to the extended life of important components and expensive instruments. This in turn increases investment returns from the assets, delivering operational excellence and a positive financial impact.
8The ROI is further amplified when the transformation is approached across verticals.
Click on Reports for more Details
LNG sales witnessed a record year of sales in 2016
8But the future remains challenging.
8The current LNG glut would persist well into the next decade unless suppliers found ways to reduce costs to levels that made gas as affordable as rival fuels.
8The problem is that gas had historically competed against liquid fuels, but today faced competition from coal and renewables.
8Around 15 years ago, LNG could be produced for a delivered cost of around $500/tonne. That had soared to as much as $1,500 as costs spiraled out of control.
8Methane emissions will have to be curbed or gas will end up being dubbed as another dirty fuel.
8Again a higher carbon tax is needed to keep gas competitive.
Click on Reports for more Details
8But the future remains challenging.
8The current LNG glut would persist well into the next decade unless suppliers found ways to reduce costs to levels that made gas as affordable as rival fuels.
8The problem is that gas had historically competed against liquid fuels, but today faced competition from coal and renewables.
8Around 15 years ago, LNG could be produced for a delivered cost of around $500/tonne. That had soared to as much as $1,500 as costs spiraled out of control.
8Methane emissions will have to be curbed or gas will end up being dubbed as another dirty fuel.
8Again a higher carbon tax is needed to keep gas competitive.
Click on Reports for more Details
There are always a counter point to the narrative that the future of the oil and gas industry is cloudy.
8OPEC for example believes that fossil fuels will continue to play a leading role in global energy supply in the future. This fact makes what the OPEC and non-
8OPEC producers are attempting to do in the market
8Investments in new and existing capacity will amount to some $10 trillion up to 2040 to satisfy burgeoning demand, according to OPEC calculations.
8Two oil industry associations, OPEC and the IEA, do not see an oil demand peak for the foreseeable future.
8Demand remained robust, said the Secretary General of OPEC. He highlighted figures in OPEC’s World Oil Outlook 2016, which sees world oil demand increasing by around 17 million barrels/day between 2015 and 2040, with oil-related investment at $ 10 trillion.
8Saudi Arabia’s oil minister Khalid Al-Falih said in a keynote address recently, that their remains an “insatiable thirst for oil ... demand for petroleum imports will continue to grow steadily in the developing world.”
8Clearly the bottle is half full or half empty depending upon which view point you are canvassing.
Click on Reports for more Details
8OPEC for example believes that fossil fuels will continue to play a leading role in global energy supply in the future. This fact makes what the OPEC and non-
8OPEC producers are attempting to do in the market
8Investments in new and existing capacity will amount to some $10 trillion up to 2040 to satisfy burgeoning demand, according to OPEC calculations.
8Two oil industry associations, OPEC and the IEA, do not see an oil demand peak for the foreseeable future.
8Demand remained robust, said the Secretary General of OPEC. He highlighted figures in OPEC’s World Oil Outlook 2016, which sees world oil demand increasing by around 17 million barrels/day between 2015 and 2040, with oil-related investment at $ 10 trillion.
8Saudi Arabia’s oil minister Khalid Al-Falih said in a keynote address recently, that their remains an “insatiable thirst for oil ... demand for petroleum imports will continue to grow steadily in the developing world.”
8Clearly the bottle is half full or half empty depending upon which view point you are canvassing.
Click on Reports for more Details
The advent of electric cars may not be great news for E&P companies as well.
8Even though the the immediate outlook for crude and gas prices remains bullish because of OPEC led cuts and rise in demand, the medium to long term outlook will have to grapple with the fact that the world has more oil and gas reserves than it can viably burn.
8By a set of alternative estimates, the demand for crude is expected to dip from as early as 2025 while some say that this will happen in 2030.
8Then again, nearly 65 per cent of total discovered oil resources since 2000 in the Middle East have not been put into development yet. Given the majority of these discoveries have a breakeven price below US$40/bbl, these fields are likely to be put onstream even if low oil prices prevail for a longer time,
8In this context, any investment in exploration in India is perhaps not worth the effort -- since exploration to production period is usually five to seven years or more in India -- unless the cost economics are comparable with other low cost producers in the world.
8ONGC had once prided itself as being a low cost producer from its nomination blocks
8But that does not seem to be case, as is evident when its cost of production is compared with other large global producers
8What is more, its cost of production is now more than that of average global breakeven level
8Will the company take all these factors into account when monetizing its new discoveries?
Click on Reports for more Details
8Even though the the immediate outlook for crude and gas prices remains bullish because of OPEC led cuts and rise in demand, the medium to long term outlook will have to grapple with the fact that the world has more oil and gas reserves than it can viably burn.
8By a set of alternative estimates, the demand for crude is expected to dip from as early as 2025 while some say that this will happen in 2030.
8Then again, nearly 65 per cent of total discovered oil resources since 2000 in the Middle East have not been put into development yet. Given the majority of these discoveries have a breakeven price below US$40/bbl, these fields are likely to be put onstream even if low oil prices prevail for a longer time,
8In this context, any investment in exploration in India is perhaps not worth the effort -- since exploration to production period is usually five to seven years or more in India -- unless the cost economics are comparable with other low cost producers in the world.
8ONGC had once prided itself as being a low cost producer from its nomination blocks
8But that does not seem to be case, as is evident when its cost of production is compared with other large global producers
8What is more, its cost of production is now more than that of average global breakeven level
8Will the company take all these factors into account when monetizing its new discoveries?
Click on Reports for more Details
A bunch of new discoveries by ONGC in 2016-17 has opened up the possibility of find larger hydrocarbon reserves in new Indian basins.
8Two discoveries MBS051NAA-2 and GKS101NCA-1 in NELP blocks in Kutch and Saurashtra Offshore have reinforced confidence to upgrade these basins to Category-I (Producing) basins through fast track monetization
8The SRI-1 discovery in the NELP block KG-OSN-2009/2 in offshore KG basin also provides the possibility of establishing a huge potential for syn-rift/deeper play in east coast shallow water.
8Then again, the Jabera-4 discovery established hydrocarbons for the first time in Vindhyan Basin and has given impetus for putting Vindhyan basin on hydrocarbon map of India.
8A significant highlight of initial inplace hydrocarbons accreted during the year 2016-17 has been that 87.3% of this was through exploratory drilling, while the remaining only 12.7% has been through reevaluation.
8The Reserve Replacement Ratio (RRR) for the year has been 1.49, against an MoU target of 1.40.
8While the opening up new basins is a commendable objective, it is the cost-economics of production from new discoveries which will eventually determine whether they can be monetized or not.
Click on Reports for more Details
8Two discoveries MBS051NAA-2 and GKS101NCA-1 in NELP blocks in Kutch and Saurashtra Offshore have reinforced confidence to upgrade these basins to Category-I (Producing) basins through fast track monetization
8The SRI-1 discovery in the NELP block KG-OSN-2009/2 in offshore KG basin also provides the possibility of establishing a huge potential for syn-rift/deeper play in east coast shallow water.
8Then again, the Jabera-4 discovery established hydrocarbons for the first time in Vindhyan Basin and has given impetus for putting Vindhyan basin on hydrocarbon map of India.
8A significant highlight of initial inplace hydrocarbons accreted during the year 2016-17 has been that 87.3% of this was through exploratory drilling, while the remaining only 12.7% has been through reevaluation.
8The Reserve Replacement Ratio (RRR) for the year has been 1.49, against an MoU target of 1.40.
8While the opening up new basins is a commendable objective, it is the cost-economics of production from new discoveries which will eventually determine whether they can be monetized or not.
Click on Reports for more Details
840-day maintenance work in refinery is coming up : RFQs floated by May, 2017
8Rs 54 crore new storage tanks installation work on the anvil: EC expected by October, 2017
8New Mounded Storage Vessels needed : RFQs expected in July, 2017
8New LPG Bottling Plant is coming up: RFQs expected by June, 2017.
Click on Details for more Details
8Rs 54 crore new storage tanks installation work on the anvil: EC expected by October, 2017
8New Mounded Storage Vessels needed : RFQs expected in July, 2017
8New LPG Bottling Plant is coming up: RFQs expected by June, 2017.
Click on Details for more Details
The oil & gas industry must not take power minister Piyush Goyal's pronouncement that India's entire fleet of petrol and diesel cars will be replaced with electric vehicles by 2030 as an empty threat.
8Goyal may have mixed political rhetoric with hazy economics to push forward his point of view but the fact that electric vehicles are now a looming threat the India's Oil Marketing Companies is an established fact.
8“We are going to introduce electric vehicles in a very big way. We are going to make electric vehicles self-sufficient like Unnat Jyoti by Affordable LEDs for All (UJALA)," Goyal thundered from a CII platform last week.
8Even though diesel and petrol sales are recording sharp increases in sales, this website has been saying for sometime now that the OMCs will need to dramatically rethink its retail outlet led business model sooner than later.
8All refinery expansions will have to take into account Goyal's threat into their cost economics.
8The uncertainty element is at its highest level ever for the OMCs.
8Does the existing leadership have the capability of steering these huge companies through this period?
8Could they, for example, buy stakes in electric car manufacturing companies or turn their retail outlets into charging stations and successful food and convenience store outlets once petrol and diesel dispensation is not a viable business anymore?
8Can they diversify quickly into petrochemicals and related businesses before their retail outlets go dry?
Click on Reports and also on Details for more. Details
8Goyal may have mixed political rhetoric with hazy economics to push forward his point of view but the fact that electric vehicles are now a looming threat the India's Oil Marketing Companies is an established fact.
8“We are going to introduce electric vehicles in a very big way. We are going to make electric vehicles self-sufficient like Unnat Jyoti by Affordable LEDs for All (UJALA)," Goyal thundered from a CII platform last week.
8Even though diesel and petrol sales are recording sharp increases in sales, this website has been saying for sometime now that the OMCs will need to dramatically rethink its retail outlet led business model sooner than later.
8All refinery expansions will have to take into account Goyal's threat into their cost economics.
8The uncertainty element is at its highest level ever for the OMCs.
8Does the existing leadership have the capability of steering these huge companies through this period?
8Could they, for example, buy stakes in electric car manufacturing companies or turn their retail outlets into charging stations and successful food and convenience store outlets once petrol and diesel dispensation is not a viable business anymore?
8Can they diversify quickly into petrochemicals and related businesses before their retail outlets go dry?
Click on Reports and also on Details for more. Details
8What are likely to be the base prices for Cairn India's recent tender for mobile drilling units to cater to the company's drilling campaign for the years 2017 and 2018
8The bidding parameters have been kept simple: a three year experience is a must
8Will ONGC's recent tender for mobile rigs going to set the benchmark?
Click on Details to find out more Details
8The bidding parameters have been kept simple: a three year experience is a must
8Will ONGC's recent tender for mobile rigs going to set the benchmark?
Click on Details to find out more Details
For reference purposes the website carries here the following tenders:
8Hiring of Services for Cleaning, Inspection, Hydro- testing and NDT and Thickness measurement of different equipments at Ankleshwar Asset Details
8Repair of Existing DSA at Rajyadharpara for Akbarnagar Drill Site Details
8Rate Contract for laying, repair and maintenance of Flowlines in Tripura Asset Details
8Supply and commissioning of mounded type pressure vessels for LPG storage Details
8Civil works at drill site in Geleky area Details
8Road Transportation Services for movement of Reduced Crude Oil Details
8Coating Refurbishment of Mainline with PU Coating Details
8Carrying out Acoustic Emission Testing of tanks in refinery Details
8Procurement of line pipes Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Donald Trump admin favours export of oil and natural gas to friends: Official Details
8Iran says self-sufficient in petrol production, aims to export in near future Details
8Global crude oil prices inch down as oversupply concerns fester Details
8It looks like crude oil's big American glut is resting elsewhere Details
8Modi hard sells India as investment destination to Turkey Details
8Saudi Aramco to boost oil loading capacity with reopened terminal Details
8Cairn accuses finmin official of ordering dividend freeze Details
8Arrow Energy wins Australian gas pipeline license, but plan on hold Details
8BP says Caspian gas pipeline's Georgia section ready by mid-2018 Details
8Core industries grow by 5 per cent in March, fastest in three months Details
8IGL takes over two gas pipelines of GAIL India to streamline infrastructure Details
8Dharmendra Pradhan orders inspection, surprise checks after oil raids Details
8Subsidized LPG price hiked by Rs 2 per cylinder, kerosene by 26 paisa Details
8 IOC to set up Rs 600-cr ethanol plant at Panipat Details
You can also click on Newsclips for more Details
8Hiring of Services for Cleaning, Inspection, Hydro- testing and NDT and Thickness measurement of different equipments at Ankleshwar Asset Details
8Repair of Existing DSA at Rajyadharpara for Akbarnagar Drill Site Details
8Rate Contract for laying, repair and maintenance of Flowlines in Tripura Asset Details
8Supply and commissioning of mounded type pressure vessels for LPG storage Details
8Civil works at drill site in Geleky area Details
8Road Transportation Services for movement of Reduced Crude Oil Details
8Coating Refurbishment of Mainline with PU Coating Details
8Carrying out Acoustic Emission Testing of tanks in refinery Details
8Procurement of line pipes Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Donald Trump admin favours export of oil and natural gas to friends: Official Details
8Iran says self-sufficient in petrol production, aims to export in near future Details
8Global crude oil prices inch down as oversupply concerns fester Details
8It looks like crude oil's big American glut is resting elsewhere Details
8Modi hard sells India as investment destination to Turkey Details
8Saudi Aramco to boost oil loading capacity with reopened terminal Details
8Cairn accuses finmin official of ordering dividend freeze Details
8Arrow Energy wins Australian gas pipeline license, but plan on hold Details
8BP says Caspian gas pipeline's Georgia section ready by mid-2018 Details
8Core industries grow by 5 per cent in March, fastest in three months Details
8IGL takes over two gas pipelines of GAIL India to streamline infrastructure Details
8Dharmendra Pradhan orders inspection, surprise checks after oil raids Details
8Subsidized LPG price hiked by Rs 2 per cylinder, kerosene by 26 paisa Details
8 IOC to set up Rs 600-cr ethanol plant at Panipat Details
You can also click on Newsclips for more Details
For reference purposes the website carries here the following tenders:
8Appointment of Internal Auditor for Central UP Gas Limited Details
8Integrated Development Services for the Tight Oil Fields within the RJ-ON-90/1 Block Details
8Supply of Acoustic Pipeline Locators Details
8Procurement of Non Domestic Meters and Regulators for Central UP Gas Limited Details
8Expression of Interest to hire skid mounted easy to shift low pressure Gas Compression Services for reducing flaring from various installations of Mehsana Asset Details
8Global Expression of Interest for Radial Drilling Services Details
8Annual Monitoring and Maintenance Contract of Cathodic Protection System Details
8Hiring of agency services for Corrosion Coupon Retrieval, Reinstallation and supply of Standard Coupons for PLQP Details
8Hiring of Light Commercial Vehicle’s for transportation of CNG filled Cascades for City Gas Distribution Project Details
8Supply of Shell and Tube Heat Exchangers for BS-IV Projects in refinery Details
8Procurement of Ultrasonic Flow Meters for BS-IV Projects in refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Gas leak sparks fire in GAIL pipeline in Bengaluru Details
8Reliance Industries, British energy giant BP to acquire Niko’s 10% stake in gas block Details
8Soaring High, ONGC makes 23 oil and gas discoveries in 2016-17 Details
8Petrol and diesel prices to change everyday in these 5 cities from tomorrow Details
8Local suppliers not to get preference for difficult oil fields Details
8Indian Register of Shipping expands operations in India after strengthening global footprint Details
8Dharmendra Pradhan assures strict action against petrol pumps stealing fuel Details
8Sensex is on an upward trajectory, economic indicators are cheery but why are Indians still gloomy? Details
8How much control could the government exert in private sector entities? Details
8Iran receives positive signals from OPEC, NON-OPEC countries for output cuts Details
8Pall remains over Canadian oil sands a year after massive wildfires Details
8Tunisia military to protect southern oil, gas fields from attacks - ministry Details
8Donald Trump admin favours export of oil and natural gas to friends: Official Details
8'India to see $35-40 billion worth impact investments by 2025' Details
8Petrol price raised by 1 paisa a litre, diesel by 44 paise a litre: Indian Oil Corp Details
8Indias eighth sedimentary basin to go live in 2 years Details
8GSPC to re-enter KG basin, acquire Geo-Global’s stake Details
8Indian Oil, HP, Bharat Petroleum to spend Rs 20,000 crore on LPG business Details
You can also click on Newsclips for more Details
8Appointment of Internal Auditor for Central UP Gas Limited Details
8Integrated Development Services for the Tight Oil Fields within the RJ-ON-90/1 Block Details
8Supply of Acoustic Pipeline Locators Details
8Procurement of Non Domestic Meters and Regulators for Central UP Gas Limited Details
8Expression of Interest to hire skid mounted easy to shift low pressure Gas Compression Services for reducing flaring from various installations of Mehsana Asset Details
8Global Expression of Interest for Radial Drilling Services Details
8Annual Monitoring and Maintenance Contract of Cathodic Protection System Details
8Hiring of agency services for Corrosion Coupon Retrieval, Reinstallation and supply of Standard Coupons for PLQP Details
8Hiring of Light Commercial Vehicle’s for transportation of CNG filled Cascades for City Gas Distribution Project Details
8Supply of Shell and Tube Heat Exchangers for BS-IV Projects in refinery Details
8Procurement of Ultrasonic Flow Meters for BS-IV Projects in refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Gas leak sparks fire in GAIL pipeline in Bengaluru Details
8Reliance Industries, British energy giant BP to acquire Niko’s 10% stake in gas block Details
8Soaring High, ONGC makes 23 oil and gas discoveries in 2016-17 Details
8Petrol and diesel prices to change everyday in these 5 cities from tomorrow Details
8Local suppliers not to get preference for difficult oil fields Details
8Indian Register of Shipping expands operations in India after strengthening global footprint Details
8Dharmendra Pradhan assures strict action against petrol pumps stealing fuel Details
8Sensex is on an upward trajectory, economic indicators are cheery but why are Indians still gloomy? Details
8How much control could the government exert in private sector entities? Details
8Iran receives positive signals from OPEC, NON-OPEC countries for output cuts Details
8Pall remains over Canadian oil sands a year after massive wildfires Details
8Tunisia military to protect southern oil, gas fields from attacks - ministry Details
8Donald Trump admin favours export of oil and natural gas to friends: Official Details
8'India to see $35-40 billion worth impact investments by 2025' Details
8Petrol price raised by 1 paisa a litre, diesel by 44 paise a litre: Indian Oil Corp Details
8Indias eighth sedimentary basin to go live in 2 years Details
8GSPC to re-enter KG basin, acquire Geo-Global’s stake Details
8Indian Oil, HP, Bharat Petroleum to spend Rs 20,000 crore on LPG business Details
You can also click on Newsclips for more Details
