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Jun 2016
Natural gas consumption saw a jump of 15.72 percent in May, 2016 as compared to May, 2015.
8In terms of volumes, total consumption during May, 2016 was 3,407 MMSCM as compared to 2,944 MMSCM in May, 2015.
8On cumulative basis, gas consumption increased by 12.12 percent from 5,857 MMSCM during April to May 2015 to 6,566 MMSCM during April to May 2016.
8Natural gas consumption has shown growth predominantly due to improved consumption in power sector due to the implementation of the gas pooling policy, improved off-take by CGD and others sectors and increased consumption by GAIL for its plants in Vijaipur and Pata.
8There was a net increase in consumption by power sector to the tune of 17.54 percent from 681 MMSCM in May, 2015 to 800 MMSCM in May, 2016.
8On the other hand, fertilizer sector witnessed a marginal slump of 0.13 percent compared to May, 2015. In May, 2016, fertilizer sector consumed 1,192.63 MMSCM of gas compared to 1,194.24 MMSCM of gas in May, 2015.
8In May, 2016, fertilizer sector consumed 1,192.63 MMSCM of gas compared to 1,194.24 MMSCM of gas in May, 2015.
8Gas consumption in Southern region saw a positive growth of 25.88 percent, while Northern and Western region consumption declined marginally by 2.55 percent and 1.16 percent respectively.
8The CGD sector showed a jump of 39.23 percent from 319.87 MMSCM in May, 2015 to 445.34 MMSCM in May, 2016 due to increase in off-take.
8On cumulative basis, overall consumption grew by 35.1 percent increasing from 650.89 MMSCM during April to May 2015 to 879.35 MMSCM during April to May 2016.
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8In terms of volumes, total consumption during May, 2016 was 3,407 MMSCM as compared to 2,944 MMSCM in May, 2015.
8On cumulative basis, gas consumption increased by 12.12 percent from 5,857 MMSCM during April to May 2015 to 6,566 MMSCM during April to May 2016.
8Natural gas consumption has shown growth predominantly due to improved consumption in power sector due to the implementation of the gas pooling policy, improved off-take by CGD and others sectors and increased consumption by GAIL for its plants in Vijaipur and Pata.
8There was a net increase in consumption by power sector to the tune of 17.54 percent from 681 MMSCM in May, 2015 to 800 MMSCM in May, 2016.
8On the other hand, fertilizer sector witnessed a marginal slump of 0.13 percent compared to May, 2015. In May, 2016, fertilizer sector consumed 1,192.63 MMSCM of gas compared to 1,194.24 MMSCM of gas in May, 2015.
8In May, 2016, fertilizer sector consumed 1,192.63 MMSCM of gas compared to 1,194.24 MMSCM of gas in May, 2015.
8Gas consumption in Southern region saw a positive growth of 25.88 percent, while Northern and Western region consumption declined marginally by 2.55 percent and 1.16 percent respectively.
8The CGD sector showed a jump of 39.23 percent from 319.87 MMSCM in May, 2015 to 445.34 MMSCM in May, 2016 due to increase in off-take.
8On cumulative basis, overall consumption grew by 35.1 percent increasing from 650.89 MMSCM during April to May 2015 to 879.35 MMSCM during April to May 2016.
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FO and LSHS consumption registered a growth of 17.0 percent during May, 2016 and a cumulative growth of 22.9 percent for April- May, 2016.
8The slowdown is due to a drop in consumption of FO/LSHS registered by petrochemical industry during the month.
8Pet-coke consumption registered a growth of 2.4 percent during May, 2016 and a cumulative growth of 18.3 percent for April- May, 2016.
8Multi-fuel cement plants use pet-coke for their production and fall in prices of petroleum products makes it very lucrative to use but a rise in price as a result of higher crude prices has now slowed down consumption.
LDO consumption up
8LDO consumption recorded a growth of 46.6 percent in the month of May, 2016 and a cumulative growth of 39.1 percent for April- May, 2016.
8It is also extensively used in various types of furnaces and an increase in manufacturing activities lead to an increase in its consumption.
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8The slowdown is due to a drop in consumption of FO/LSHS registered by petrochemical industry during the month.
8Pet-coke consumption registered a growth of 2.4 percent during May, 2016 and a cumulative growth of 18.3 percent for April- May, 2016.
8Multi-fuel cement plants use pet-coke for their production and fall in prices of petroleum products makes it very lucrative to use but a rise in price as a result of higher crude prices has now slowed down consumption.
LDO consumption up
8LDO consumption recorded a growth of 46.6 percent in the month of May, 2016 and a cumulative growth of 39.1 percent for April- May, 2016.
8It is also extensively used in various types of furnaces and an increase in manufacturing activities lead to an increase in its consumption.
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Naphtha consumption recorded a de-growth of -7.4 percent during the month of May, 2016 and a cumulative growth of 4.0 percent for the period April to May, 2016.
8The consumption during the month is lower due to less offtake by the petrochemicals sector.
8During May, 2016 the growth in consumption of ATF was 12.6 percent and a cumulative growth of 12.5 percent during the period April to May, 2016 was observed.
8Increase in air traffic in India, helped by cheaper fares, lead to the rise in production.
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8The consumption during the month is lower due to less offtake by the petrochemicals sector.
8During May, 2016 the growth in consumption of ATF was 12.6 percent and a cumulative growth of 12.5 percent during the period April to May, 2016 was observed.
8Increase in air traffic in India, helped by cheaper fares, lead to the rise in production.
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Total LPG consumption grew by 7.4 percent during May, 2016 and a cumulative growth of 7.8 percent for the period April to May, 2016.
8LPG packed domestic consumption registered a growth of 5.7 percent during May, 2016 and a growth of 6.1 percent during the period April to May, 2016.
8The decrease in market share of LPG-packed domestic consumption is probably due to the impact of implementation of direct transfer of subsidy scheme and the curb on diversion of subsidized domestic cylinders.
8LPG packed non-domestic consumption for the seventeenth month in a row registered a positive growth. Consumption went up by 21.5 percent in May, 2016, with a cumulative growth of 25.8 percent during April to May, 2106.
8This high growth and increase in market share in LPG packed non-domestic is mainly due to easy availability, low price of non-domestic LPG and curb in diversion of subsidized domestic cylinders after the launch of DBTL.
8Bulk LPG registered a positive growth of 22.0 percent during May, 2016 and a cumulative growth of 24.2 percent during April to May, 2016.
8The percentage share of bulk LPG consumption in total consumption went up to 2.0 percent in May, 2016 as compared to 1.7 percent in May, 2015.
8Auto LPG consumption however registered a de-growth of -4.5 percent in May, 2016 and cumulative negative growth of 4.8 percent during April to May, 2016.
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8LPG packed domestic consumption registered a growth of 5.7 percent during May, 2016 and a growth of 6.1 percent during the period April to May, 2016.
8The decrease in market share of LPG-packed domestic consumption is probably due to the impact of implementation of direct transfer of subsidy scheme and the curb on diversion of subsidized domestic cylinders.
8LPG packed non-domestic consumption for the seventeenth month in a row registered a positive growth. Consumption went up by 21.5 percent in May, 2016, with a cumulative growth of 25.8 percent during April to May, 2106.
8This high growth and increase in market share in LPG packed non-domestic is mainly due to easy availability, low price of non-domestic LPG and curb in diversion of subsidized domestic cylinders after the launch of DBTL.
8Bulk LPG registered a positive growth of 22.0 percent during May, 2016 and a cumulative growth of 24.2 percent during April to May, 2016.
8The percentage share of bulk LPG consumption in total consumption went up to 2.0 percent in May, 2016 as compared to 1.7 percent in May, 2015.
8Auto LPG consumption however registered a de-growth of -4.5 percent in May, 2016 and cumulative negative growth of 4.8 percent during April to May, 2016.
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Bitumen consumption registered a growth of 7.1 percent during the month of May, 2016 and a cumulative growth of 10.6 percent during the period April to May, 2016.
8The government has accorded high priority to the development of roads, pushing new networks, rehabilitating existing and creating road over-bridges and railway crossings to make them safer.
8468 kms of roads were constructed during April, 2016, 677 kms in May, 2016 and 800 kms is expected in June, 2016 against the target of 15,000 kms to be constructed in 2016-17.
8Bitumen demand has peaked in May before the monsoons set in.
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8The government has accorded high priority to the development of roads, pushing new networks, rehabilitating existing and creating road over-bridges and railway crossings to make them safer.
8468 kms of roads were constructed during April, 2016, 677 kms in May, 2016 and 800 kms is expected in June, 2016 against the target of 15,000 kms to be constructed in 2016-17.
8Bitumen demand has peaked in May before the monsoons set in.
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HSD consumption in the country recorded a growth of 8.1 percent jump the month of May, 2016 as compared to May, 2015 and a cumulative growth of 6.3 percent during the period April to May, 2016.
8India’s gross domestic product (GDP) grew 7.6 per cent in 2015-16, powered by a rebound in farm output, and an improvement in electricity generation and mining production in the fourth quarter of the fiscal
8Diesel will be a clear beneficiary of the push towards manufacturing and infrastructure improvement in the country.
During the month of May, 2016 a growth in diesel sales was registered mainly due to following reasons:
-- A lot of infrastructure projects have been initiated by the government across the country and there is a push in construction activity resulting in higher diesel consumption.
-- Economic viability of public transport and carrier vehicles has become better due to cheaper fuel.
-- Election campaigns continued in the states of Assam, West Bengal, Kerala, Tamil Nadu and Puducherry during the first half of the month boosting vehicular movement.
-- Higher use of diesel by farmers who used pumps for irrigation in the absence of rain.
Click on Reports for more. Details
8India’s gross domestic product (GDP) grew 7.6 per cent in 2015-16, powered by a rebound in farm output, and an improvement in electricity generation and mining production in the fourth quarter of the fiscal
8Diesel will be a clear beneficiary of the push towards manufacturing and infrastructure improvement in the country.
During the month of May, 2016 a growth in diesel sales was registered mainly due to following reasons:
-- A lot of infrastructure projects have been initiated by the government across the country and there is a push in construction activity resulting in higher diesel consumption.
-- Economic viability of public transport and carrier vehicles has become better due to cheaper fuel.
-- Election campaigns continued in the states of Assam, West Bengal, Kerala, Tamil Nadu and Puducherry during the first half of the month boosting vehicular movement.
-- Higher use of diesel by farmers who used pumps for irrigation in the absence of rain.
Click on Reports for more. Details
MS consumption during the month of May, 2016 recorded a good growth of 13.5 percent as compared to May, 2015 and a cumulative increase of 12.7 percent for the period April to May, 2016.
8The high growth in MS consumption can be attributed mainly to consumer's preference for petrol driven vehicles as the price difference between petrol and diesel has waned. Then again, the election campaigns in the states of Assam, West Bengal, Kerala, Tamil Nadu and Puducherry continued during the first half of the month with much hype and activity, leading to higher sales.
8Passenger vehicle also recorded a strong domestic sales growth for the second consecutive months of the new fiscal year by registering a growth of 6.3 percent in May at 2,31,640 units. during May, 2016 largely on account of new launches.
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8The high growth in MS consumption can be attributed mainly to consumer's preference for petrol driven vehicles as the price difference between petrol and diesel has waned. Then again, the election campaigns in the states of Assam, West Bengal, Kerala, Tamil Nadu and Puducherry continued during the first half of the month with much hype and activity, leading to higher sales.
8Passenger vehicle also recorded a strong domestic sales growth for the second consecutive months of the new fiscal year by registering a growth of 6.3 percent in May at 2,31,640 units. during May, 2016 largely on account of new launches.
Click on Reports for more. Details
What kind of gas prices -- under the new price dispensation scheme of the govenment -- are the RIL-BP combine assuming in the future based on which they are conducting their viability assessment of the future investments in the KG D-6 block.
8The prices are assumed to stay stable in 2016 and 2017 but is assumed to dip in 2018
8Prices available for the combine will go up right through 2019 to 2021.
8Thereafter, it is assumed that there will be a 2% annual increase in price
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8The prices are assumed to stay stable in 2016 and 2017 but is assumed to dip in 2018
8Prices available for the combine will go up right through 2019 to 2021.
8Thereafter, it is assumed that there will be a 2% annual increase in price
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The following are the sales figures from the D-6 block in 2016:
8Sale of gas: $ 630 million as against $720 million in the previous year
8Sale of oil and gas condensate: $80.5 million in comparison to $210 million in 2015
8Government share of profit petroleum was $6.8 million as against $14.3 million earlier
8Royalty outgo was at $36.3 million in comparison to $46.3 million in 2015
8Production and operating costs were at $220 million as against $277 million
8The BP-RIL combine had cut down production and evaluation cost dramatically to $12 million in 2016 as against a whopping $ 620 million in 2015
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8Sale of gas: $ 630 million as against $720 million in the previous year
8Sale of oil and gas condensate: $80.5 million in comparison to $210 million in 2015
8Government share of profit petroleum was $6.8 million as against $14.3 million earlier
8Royalty outgo was at $36.3 million in comparison to $46.3 million in 2015
8Production and operating costs were at $220 million as against $277 million
8The BP-RIL combine had cut down production and evaluation cost dramatically to $12 million in 2016 as against a whopping $ 620 million in 2015
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Euro-IV HSD project along with installation of an LPG mounded bullet plus facility upgradation of an existing LPG bottling plant
8Laying of a gas transportation network in Gujarat
8BS VI quality fuel upgradation and a new MS block comprising of NHT, NSU, LNISM and CCR and associated facilities at a major Indian refinery
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8Laying of a gas transportation network in Gujarat
8BS VI quality fuel upgradation and a new MS block comprising of NHT, NSU, LNISM and CCR and associated facilities at a major Indian refinery
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The following are the latest business development opportunities (well before tenders come out) available in the E&P sector:
8Exploratory Drilling & Testing of Hydrocarbons at 7 locations in a NELP VIII block
8Drilling of 10 wells in Gujarat by the private operator
8Development of a coal bed methane project in Madhya Pradesh
8A one well onland exploratory programme
8A five well onland independent exploratory programme
8Exploratory/Appraisal programme for 15 wells by a private operator in an onland block
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8Exploratory Drilling & Testing of Hydrocarbons at 7 locations in a NELP VIII block
8Drilling of 10 wells in Gujarat by the private operator
8Development of a coal bed methane project in Madhya Pradesh
8A one well onland exploratory programme
8A five well onland independent exploratory programme
8Exploratory/Appraisal programme for 15 wells by a private operator in an onland block
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Even though BP is not greatly keen on developing its India assets, it is, along with Reliance Industries Ltd, is talking to contractors on how to move ahead with the discoveries in the R-Cluster, Satellite and MJ discoveries in
the D6 Block.
8Discussions are on for pre-FEED and FEED jobs.
8Heavy investments are unlikely, like ONGC's Rs 34,000 crore splash, in the KG-DWN-98/2 block.
8It will be a highly optimized programme with tight cost control.
8Equipment and service providers are likely to be skinned to the bone by the combine for delivery of equipment and services
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the D6 Block.
8Discussions are on for pre-FEED and FEED jobs.
8Heavy investments are unlikely, like ONGC's Rs 34,000 crore splash, in the KG-DWN-98/2 block.
8It will be a highly optimized programme with tight cost control.
8Equipment and service providers are likely to be skinned to the bone by the combine for delivery of equipment and services
Click on Details for more Details
Deloitte has conducted an exercise to determine the proved reserves and proved plus probable reserves of gas in all D-6 block discoveries.
8The latest estimates place proved reserves in the block at 2.65 TCF
8The proved plus probable reserves have been pegged at 4.06 TCF
8There has been a reclassification of reserves for the R-Cluster and Satellites undeveloped discoveries from probable reserves to proved reserves and the addition of reserves for the MJ and other Satellite undeveloped discoveries due to the their economic viability at the prices assumed in the reserve evaluations of these fields.
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8The latest estimates place proved reserves in the block at 2.65 TCF
8The proved plus probable reserves have been pegged at 4.06 TCF
8There has been a reclassification of reserves for the R-Cluster and Satellites undeveloped discoveries from probable reserves to proved reserves and the addition of reserves for the MJ and other Satellite undeveloped discoveries due to the their economic viability at the prices assumed in the reserve evaluations of these fields.
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RIL BP combine's operating cost in the KG D-6 block is just $1.51/mmbtu in 2016.
8This is down from $1.59/mmbtu in 2015. This cost is likely to go down this year too.
8Daily natural gas sales were at 0.65 mmscmd in 2016, down from 12.35 mmscmd in 2015
8Daily oil and condensate sales (bbls/d) was down sharply to 513 as against 714 2015
8It is pertinent to note that the notified price for natural gas sales from the D6 Block in India was $4.66/mmbtu GCV ($5.18 /mmbtu NCV) from April 1, 2015 to September 30, 2015 and $3.82 / mmbtu on GCV basis ($4.24 / MMbtu NCV) for October 1, 2015 to March 31, 2016.
8For the D1 D3 in the D6 Block where a dispute between the contractor group and the GOI on the cost recovery of certain costs is under arbitration, the guidelines indicate that the contractor group would be paid the earlier price of $4.20/mmbtu NCV and the difference between the revised price and $4.20/mmbtu NCV would be credited to a gas pool account and “whether the amount so collected is payable or not to the contractors of this block would be dependent on the outcome of the award of the pending arbitration and any attendant legal proceedings”.
8The notified price for natural gas sales from the D-6 Block in India for April 1, 2016 to September 30, 2016 is $3.06 / mmbtu GCV ($3.40 / mmbtu NCV), approximately 20 percent lower than the earlier price before adoption of the New Domestic Natural Gas Guidelines, effective November 1, 2014 Details
8This is down from $1.59/mmbtu in 2015. This cost is likely to go down this year too.
8Daily natural gas sales were at 0.65 mmscmd in 2016, down from 12.35 mmscmd in 2015
8Daily oil and condensate sales (bbls/d) was down sharply to 513 as against 714 2015
8It is pertinent to note that the notified price for natural gas sales from the D6 Block in India was $4.66/mmbtu GCV ($5.18 /mmbtu NCV) from April 1, 2015 to September 30, 2015 and $3.82 / mmbtu on GCV basis ($4.24 / MMbtu NCV) for October 1, 2015 to March 31, 2016.
8For the D1 D3 in the D6 Block where a dispute between the contractor group and the GOI on the cost recovery of certain costs is under arbitration, the guidelines indicate that the contractor group would be paid the earlier price of $4.20/mmbtu NCV and the difference between the revised price and $4.20/mmbtu NCV would be credited to a gas pool account and “whether the amount so collected is payable or not to the contractors of this block would be dependent on the outcome of the award of the pending arbitration and any attendant legal proceedings”.
8The notified price for natural gas sales from the D-6 Block in India for April 1, 2016 to September 30, 2016 is $3.06 / mmbtu GCV ($3.40 / mmbtu NCV), approximately 20 percent lower than the earlier price before adoption of the New Domestic Natural Gas Guidelines, effective November 1, 2014 Details
For reference purposes the website carries here the following tenders:
8Service Contract for Chemical Decontamination of Vacuum Distillation Column and related Piping jobs [NRL] Details
8Ultrasonic thickness survey of equipments & piping of various process units, Panipat Refinery [IOC] Details
8Carrying out Thickness Survey of above ground station Piping at WRPL, Mundra [IOC] Details
8Installation of Remote Seal Pressure Transmitters and Temperature Transmitters, Mourigram [IOC] Details
8Preparation of Route survey and Cadastral survey for Drill sites, Cambay Asset [ONGC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Appeal to PMUY beneficiaries not to be influenced by unscrupulous agencies in getting LPG connections Details
8Oil E&P stocks gain alongside rise in crude oil prices Details
8CAD may fall below 1% in FY17, but India to face Brexit heat: Arvind Subramanian Details
8Govt decides to extend budgetary grants to GAIL, GSPC Details
8Panel begins work on preparing blueprint for refinery exports Details
8NextGen organizes workshop on 'Off-grid renewable energy solutions: A CSR opportunity' Details
8GAIL begins gas supplies to Chinese wheel producer Details
8AERB nod to fission process of Kudankulam's second nuclear-plant Details
8Saudi Aramco and SABIC in groundbreaking oil-to-chemicals deal Details
8Climate policies will not strand oil and gas reserves: Kemp Details
8Oil prices rise on Norway strike threat Details
8Oilfield auction stir hits upper Assam Details
8Reconsider open bidding of 12 small and marginal oilfields of Assam: Prafulla Kumar Mahanta Details
8Oil jumps as US crude inventories fall Details
8FY16 challenging for natural resources sector, says Vedanta Details
8Essar Oil makes $500 mn payment to Iran via new channel Details
You can also click on Newsclips for more Details
8Service Contract for Chemical Decontamination of Vacuum Distillation Column and related Piping jobs [NRL] Details
8Ultrasonic thickness survey of equipments & piping of various process units, Panipat Refinery [IOC] Details
8Carrying out Thickness Survey of above ground station Piping at WRPL, Mundra [IOC] Details
8Installation of Remote Seal Pressure Transmitters and Temperature Transmitters, Mourigram [IOC] Details
8Preparation of Route survey and Cadastral survey for Drill sites, Cambay Asset [ONGC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Appeal to PMUY beneficiaries not to be influenced by unscrupulous agencies in getting LPG connections Details
8Oil E&P stocks gain alongside rise in crude oil prices Details
8CAD may fall below 1% in FY17, but India to face Brexit heat: Arvind Subramanian Details
8Govt decides to extend budgetary grants to GAIL, GSPC Details
8Panel begins work on preparing blueprint for refinery exports Details
8NextGen organizes workshop on 'Off-grid renewable energy solutions: A CSR opportunity' Details
8GAIL begins gas supplies to Chinese wheel producer Details
8AERB nod to fission process of Kudankulam's second nuclear-plant Details
8Saudi Aramco and SABIC in groundbreaking oil-to-chemicals deal Details
8Climate policies will not strand oil and gas reserves: Kemp Details
8Oil prices rise on Norway strike threat Details
8Oilfield auction stir hits upper Assam Details
8Reconsider open bidding of 12 small and marginal oilfields of Assam: Prafulla Kumar Mahanta Details
8Oil jumps as US crude inventories fall Details
8FY16 challenging for natural resources sector, says Vedanta Details
8Essar Oil makes $500 mn payment to Iran via new channel Details
You can also click on Newsclips for more Details
80% of the flowing oil wells of ONGC is on artificial-lift
8And yet ONGC does not have strong artifical-lift support groups or infrastructure
8This is another big business development area in the future that service and equipment providers must concentrate on.
8Identifying key contacts at the asset level and staying in touch with them for future business development is critical for business development managers
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8And yet ONGC does not have strong artifical-lift support groups or infrastructure
8This is another big business development area in the future that service and equipment providers must concentrate on.
8Identifying key contacts at the asset level and staying in touch with them for future business development is critical for business development managers
Click on Details for more Details
For reference purposes, the website also carried here the asset wise spread of onshore E&P installations.
8Are your business development managers in touch with key contacts in all these installations? Quiz him on how many installations is he keeping track of.
8Maintenance work is constantly needed as almost 30% of these onshore installations is more than 30 years old
8The largest number of old installations is in Ahmendabad, followed by Ankleshwar, Mehsana and Assam
8The newer installations are in Tripura, Rajahmundry and Cauvery.
8ONGC is slowly planning to modernize, revamp and create new facilities.
Click on Details for the challenges that the company faces Details
8Are your business development managers in touch with key contacts in all these installations? Quiz him on how many installations is he keeping track of.
8Maintenance work is constantly needed as almost 30% of these onshore installations is more than 30 years old
8The largest number of old installations is in Ahmendabad, followed by Ankleshwar, Mehsana and Assam
8The newer installations are in Tripura, Rajahmundry and Cauvery.
8ONGC is slowly planning to modernize, revamp and create new facilities.
Click on Details for the challenges that the company faces Details
It will be a mistake for anyone to judge ONGC chairman Dinesh K Sarraf by his soft-spoken demeanor and quiescent manners. For, after the mercurial and preeminent Subir Raha, Sarraf is the only other chief executive of the company who stands up for what he believes.
8The fact that two projects, which will eventually bring in more than 13 mmscmd of additional gas to Indian markets within the next two years, is going to begin production next month means that Sarraf has been able to honour deadlines and achieve his goals.
8For reference purposes, the website carries here a full synopsis of the Tapti-Daman block and how, despite tough conditions, the block has transformed into a prolific source of gas in India.
Click on Details for more Details
8The fact that two projects, which will eventually bring in more than 13 mmscmd of additional gas to Indian markets within the next two years, is going to begin production next month means that Sarraf has been able to honour deadlines and achieve his goals.
8For reference purposes, the website carries here a full synopsis of the Tapti-Daman block and how, despite tough conditions, the block has transformed into a prolific source of gas in India.
Click on Details for more Details
Two of ONGC off shore assets are going on stream next month, thereby adding small quantities of gas at first but a significant quantum subsequently to the company's overall production.
8Peak production from the two assets can climb up to around 13 mmscmd within the next two years when the second phase of both projects will be completed.
8It goes to the credit of the management that both projects have been able to stick to timelines set.
Click on Details for more information on these projects. Details
8Peak production from the two assets can climb up to around 13 mmscmd within the next two years when the second phase of both projects will be completed.
8It goes to the credit of the management that both projects have been able to stick to timelines set.
Click on Details for more information on these projects. Details
ONGC is in the middle of the contracting process for the KG-DWN-98/2 block.
8The investment involves the integrated development of Cluster 1 & 2 discovereis.
8A total of five rigs are to be hired.
Click on Details for major ongoing project activities Details
8The investment involves the integrated development of Cluster 1 & 2 discovereis.
8A total of five rigs are to be hired.
Click on Details for major ongoing project activities Details
ONGC has entered into framework agreements for procurement of SPS items and Umbilicals
Agreements have been entered into for:
8Well heads
8Sub sea X mas trees
8Manifolds
8Control Systems
8Connectors
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Agreements have been entered into for:
8Well heads
8Sub sea X mas trees
8Manifolds
8Control Systems
8Connectors
Click on Details for more Details
By the year 2020, ONGC has grand plans of pushing a massive 38.7 mmscmd of gas from its eastern offshore discoveries.
8A total of around 14,000 MMSCM of gas is sought to be produced.
The fields that are going to pump in the gas are
8GIDP
8S2AB
8MLC
8VA/S1
8GS-49
8KG-OSN-2004/1
8KG-98/2 - NDA (Non associated gas discoveries)
8KG-98/2- NDA (Associated gas discoveries)
Click on Details for field-wise gas production estimates Details
8A total of around 14,000 MMSCM of gas is sought to be produced.
The fields that are going to pump in the gas are
8GIDP
8S2AB
8MLC
8VA/S1
8GS-49
8KG-OSN-2004/1
8KG-98/2 - NDA (Non associated gas discoveries)
8KG-98/2- NDA (Associated gas discoveries)
Click on Details for field-wise gas production estimates Details
For those who are interested in business development activities in onshore E&P installations in ONGC, the website carries here details on the company's
8Group gathering stations
8Gas Collection stations
8Gas Compression plants
8Central Tank farms
8Water injection plants
8Effluent Treatment plants
8Well head/Early Production Systems
8Captive Lower plant/metering stations
8Process plants
Click on Details for more Details
8Group gathering stations
8Gas Collection stations
8Gas Compression plants
8Central Tank farms
8Water injection plants
8Effluent Treatment plants
8Well head/Early Production Systems
8Captive Lower plant/metering stations
8Process plants
Click on Details for more Details
A PNGRB sub-committee has made a series of recommendations on PNGRB's T4S CGD Regulations 2014
8Wide ranging changes have been made based on technical suggestions given by city gas distribution companies.
8These changes should be noted not just by CGD entities but also by business development managers of service and equipment suppliers as demand for certain types of equipment used in this segment will go down while for others, demand will go up.
Click on Details for more Details
8Wide ranging changes have been made based on technical suggestions given by city gas distribution companies.
8These changes should be noted not just by CGD entities but also by business development managers of service and equipment suppliers as demand for certain types of equipment used in this segment will go down while for others, demand will go up.
Click on Details for more Details
Terminal-wise import data will show that both Kochi and Hazira LNG terminals are importing cargoes at a significantly lower rate than Petronet LNG.
8The business models employed by each of these terminals are different.
8In a competitive market place, market forces would have ensured that such a large differential in LNG prices was plugged.
8But supply infrastructure monopolies are coming in the way of discovering true values.
Click on Details for more Details
8The business models employed by each of these terminals are different.
8In a competitive market place, market forces would have ensured that such a large differential in LNG prices was plugged.
8But supply infrastructure monopolies are coming in the way of discovering true values.
Click on Details for more Details
The latest update on LNG imports is that a cargo of LNG has reached Kochi from Australia at a price of $ 5.07/mmbtu
8The differential between RasGas LNG and spot prices continue to remain wide.
8Click on Details for spot and contract prices of LNG in India over the last one week.
8For more detailed break-up and source wise and terminal wise price charts, please contact our sales department. Details
8The differential between RasGas LNG and spot prices continue to remain wide.
8Click on Details for spot and contract prices of LNG in India over the last one week.
8For more detailed break-up and source wise and terminal wise price charts, please contact our sales department. Details
For reference purposes the website carries here the following tenders:
8Procurement of Acid Corrosion Inhibitor, MH Asset [ONGC] Details
8Calibration of Master Naphtha Mass Flow-meters, Panipat Refinery [IOC] Details
8Supply of Valve Repairing Kit for Worthington Gas Booster Compressor, Duliajan [OIL] Details
8Construction of NB Crude Oil and NB Gas pipeline, Duliajan [OIL] Details
8Operation & Maintenance contract for the service of Tank farms, Assam [OIL] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Gujarat Gas receives grant of authorization from PNGRB for Gas Distribution network in Ahmedabad Details
8Major leap in India’s Essar Oil imports from Iran in May Details
8Oil prices rise as Brexit concerns ease Details
8Indian Oil’s unique customer outreach programme ‘We Care For You’ launched in Mumbai Details
8Qatar Petroleum, Total form new company to develop oil field Details
8Canada oil sands output to grow 42 percent by 2025 Details
8Oil field bidding of Assam opposed by AGP, coalition partner BPF Details
8Oil jumps 3 percent on post-Brexit bargain hunting, Norway strike Details
8IOC, BPRL & OIL to pay $3.3 bn to Rosneft in September Details
8Norway oil fund drops investment in Cairn and Kosmos Details
8Indian economy stands out amongst emerging markets: RBI's Financial Stability Report Details
8AGP seeks Centre rethink on oil field bidding Details
8Quest for oil: India ratchets up plans Details
8Govt signs MoU for third party sampling, testing of coal Details
You can also click on Newsclips for more Details
8Procurement of Acid Corrosion Inhibitor, MH Asset [ONGC] Details
8Calibration of Master Naphtha Mass Flow-meters, Panipat Refinery [IOC] Details
8Supply of Valve Repairing Kit for Worthington Gas Booster Compressor, Duliajan [OIL] Details
8Construction of NB Crude Oil and NB Gas pipeline, Duliajan [OIL] Details
8Operation & Maintenance contract for the service of Tank farms, Assam [OIL] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Gujarat Gas receives grant of authorization from PNGRB for Gas Distribution network in Ahmedabad Details
8Major leap in India’s Essar Oil imports from Iran in May Details
8Oil prices rise as Brexit concerns ease Details
8Indian Oil’s unique customer outreach programme ‘We Care For You’ launched in Mumbai Details
8Qatar Petroleum, Total form new company to develop oil field Details
8Canada oil sands output to grow 42 percent by 2025 Details
8Oil field bidding of Assam opposed by AGP, coalition partner BPF Details
8Oil jumps 3 percent on post-Brexit bargain hunting, Norway strike Details
8IOC, BPRL & OIL to pay $3.3 bn to Rosneft in September Details
8Norway oil fund drops investment in Cairn and Kosmos Details
8Indian economy stands out amongst emerging markets: RBI's Financial Stability Report Details
8AGP seeks Centre rethink on oil field bidding Details
8Quest for oil: India ratchets up plans Details
8Govt signs MoU for third party sampling, testing of coal Details
You can also click on Newsclips for more Details
In the hype leading up to the Paris Climate Change Conference in 2015, there were many who predicted the death of the global fossil fuel industry. A new dawn was predicted in which electric cars and renewal energy were sharply on the ascendancy while fossil fuel was relegated to the background.
8Between then and now, a balance of sorts was restored and it has since been acknowledged that it will be a long time before the curtain is brought down on the fossil fuel industry.
8But a recent spate of analysis is turning the clock back again.
8The data points to a much lower than projected demand for oil and gas in the years ahead.
8Growth in global energy demand will decelerate to 0.7 percent per year through 2050, a rate 30 percent slower than was previously forecast.
8Emerging and developing countries will drive all growth in energy demand, while European and North American demand will decline.
8Demand for electricity will outpace demand for other energy sources by more than two to one. Solar and wind will represent almost 80 percent of net added capacity and 34 percent of generation by 2050.
8Fossil fuels will dominate the total energy mix through 2050, but their share of total energy will decline to 74 percent from 82 percent. While gas is a relative winner (growing at almost twice the rate of total energy demand), coal will peak by 2025, and oil demand growth will flatten to 0.4 percent.
8Energy-related carbon dioxide emissions will flatten and start to decline around 2035 as a result of the transformation of light vehicles (more-efficient combustion engines and more electric vehicles on the roads) and the strong shift to wind and solar in power generation.
Click on Reports for more Details
8Between then and now, a balance of sorts was restored and it has since been acknowledged that it will be a long time before the curtain is brought down on the fossil fuel industry.
8But a recent spate of analysis is turning the clock back again.
8The data points to a much lower than projected demand for oil and gas in the years ahead.
8Growth in global energy demand will decelerate to 0.7 percent per year through 2050, a rate 30 percent slower than was previously forecast.
8Emerging and developing countries will drive all growth in energy demand, while European and North American demand will decline.
8Demand for electricity will outpace demand for other energy sources by more than two to one. Solar and wind will represent almost 80 percent of net added capacity and 34 percent of generation by 2050.
8Fossil fuels will dominate the total energy mix through 2050, but their share of total energy will decline to 74 percent from 82 percent. While gas is a relative winner (growing at almost twice the rate of total energy demand), coal will peak by 2025, and oil demand growth will flatten to 0.4 percent.
8Energy-related carbon dioxide emissions will flatten and start to decline around 2035 as a result of the transformation of light vehicles (more-efficient combustion engines and more electric vehicles on the roads) and the strong shift to wind and solar in power generation.
Click on Reports for more Details
One of the major findings of recent research is that the motor vehicle industry will undergo a more dramatic transformation than was earlier projected.
8The latest consensus is that by 2030, electric vehicles (including hybrids and battery-powered plug-in vehicles) could represent close to 50 percent of new cars sold in China, the European Union, and the United States, and about 30 percent globally.
8In India too, the trend will move towards electric cars.
8Disruptive technologies such as driver less cars and car sharing will transform the automobile industry.
8If the market penetration of electric, autonomous, and shared vehicles accelerates, oil demand driven by light vehicles could be approximately 3 million barrels lower in 2035 than assumed in the business-as-usual case.
8Together, this accelerated adoption of light-vehicle technologies and fall in demand for petrochemicals -- as consumption declines in rich countries -- could reduce 2035 oil demand by nearly 6 million barrels per day.
8An important result is that oil demand will peak around 2030, at fewer than 100 million barrels per day in this scenario.
Click on Reports for more Details
8The latest consensus is that by 2030, electric vehicles (including hybrids and battery-powered plug-in vehicles) could represent close to 50 percent of new cars sold in China, the European Union, and the United States, and about 30 percent globally.
8In India too, the trend will move towards electric cars.
8Disruptive technologies such as driver less cars and car sharing will transform the automobile industry.
8If the market penetration of electric, autonomous, and shared vehicles accelerates, oil demand driven by light vehicles could be approximately 3 million barrels lower in 2035 than assumed in the business-as-usual case.
8Together, this accelerated adoption of light-vehicle technologies and fall in demand for petrochemicals -- as consumption declines in rich countries -- could reduce 2035 oil demand by nearly 6 million barrels per day.
8An important result is that oil demand will peak around 2030, at fewer than 100 million barrels per day in this scenario.
Click on Reports for more Details
Why will global energy demand decelerate?
8New research claims that there is a structural shift going on in the global economy because of which economic growth rates will slow down.
8The global population is aging. By 2050, about 25 percent of the population of developed economies, including China, will be 65 or older—this means a lower proportion of workers in the total population. This relatively shrinking labor force will lead to a global macroeconomic downshift. Assuming current trends continue, with no unexpected uptick in productivity, MGI expects growth in GDP to be 40 percent lower during the next 50 years compared with the previous half century.
8Additionally, the structure of GDP growth is shifting toward services. Latest research suggests that China, today’s second-largest energy consumer, is shifting its economy from heavy industry to services to keep growing. At the same time, the surge of energy-intensive industrialization that we have seen in China during the past decades will most likely not be replicated elsewhere. That means a greater share of global GDP will be driven by services, which are less energy intensive.
8The energy intensity of GDP growth is declining further as a result of structural shifts at the individual-sector level. For example, during the past 35 years, internal combustion engines in passenger cars have become approximately 20 percent more efficient. The industry expects another 40 percent improvement in efficiency through 2035.
8Accounting for all sectors of the economy, the energy intensity of global growth will fall by 50 percent through 2050.
8Cumulatively, demand for oil will slow down dramatically even as the world is awash with rising discoveries of oil and gas.
Click on Reports for more Details
8New research claims that there is a structural shift going on in the global economy because of which economic growth rates will slow down.
8The global population is aging. By 2050, about 25 percent of the population of developed economies, including China, will be 65 or older—this means a lower proportion of workers in the total population. This relatively shrinking labor force will lead to a global macroeconomic downshift. Assuming current trends continue, with no unexpected uptick in productivity, MGI expects growth in GDP to be 40 percent lower during the next 50 years compared with the previous half century.
8Additionally, the structure of GDP growth is shifting toward services. Latest research suggests that China, today’s second-largest energy consumer, is shifting its economy from heavy industry to services to keep growing. At the same time, the surge of energy-intensive industrialization that we have seen in China during the past decades will most likely not be replicated elsewhere. That means a greater share of global GDP will be driven by services, which are less energy intensive.
8The energy intensity of GDP growth is declining further as a result of structural shifts at the individual-sector level. For example, during the past 35 years, internal combustion engines in passenger cars have become approximately 20 percent more efficient. The industry expects another 40 percent improvement in efficiency through 2035.
8Accounting for all sectors of the economy, the energy intensity of global growth will fall by 50 percent through 2050.
8Cumulatively, demand for oil will slow down dramatically even as the world is awash with rising discoveries of oil and gas.
Click on Reports for more Details
With these dramatic changes predicted to take root within the next 15 years, Indian companies will need to quickly develop a position on the following questions:
-- What are the pockets of growth and investment?
-- Where are the value pools across the system?
-- What are the shaping moves and new business models required to capture value?
8If a large proportion of cars in India is going to be battery operated, does it make sense for oil companies to continue to build retail outlets at a furious pace?
8If there is a question mark on the global demand for petrochemicals in the future, is there a need for setting up petrochemical hubs around all of India's refineries?
8If oil and gas prices are going to remain forever low in a world awash with supplies, does it make sense for India to follow aggressive oil and gas exploration policies.
8The NITI Ayog had rung the alarm bell on India's growing import dependency but in a surplus world, such dependency can be an advantage rather than a disadvantage.
8In a forever low oil and gas price regime, is India's energy security anxiety misplaced?
Click on Reports for more Details
-- What are the pockets of growth and investment?
-- Where are the value pools across the system?
-- What are the shaping moves and new business models required to capture value?
8If a large proportion of cars in India is going to be battery operated, does it make sense for oil companies to continue to build retail outlets at a furious pace?
8If there is a question mark on the global demand for petrochemicals in the future, is there a need for setting up petrochemical hubs around all of India's refineries?
8If oil and gas prices are going to remain forever low in a world awash with supplies, does it make sense for India to follow aggressive oil and gas exploration policies.
8The NITI Ayog had rung the alarm bell on India's growing import dependency but in a surplus world, such dependency can be an advantage rather than a disadvantage.
8In a forever low oil and gas price regime, is India's energy security anxiety misplaced?
Click on Reports for more Details
Key deepwater cost saving opportunities include the optimization of offshore logistics; standardizing and simplifying specifications for scope, material, and equipment at the operator and contractor level; and strategic vendor relationships.
8The largest opportunity for operators may be to rigorously drive down scope of work to a minimal level to meet functional requirements and regulations.
8There is substantial potential for additional cost savings through common design innovations at the project level. The standardization of equipment, design, and installation will improve project economics through enhanced delivery schedules, reduction in engineering, manufacturing and installation costs, and reduction of risk in the project execution. These improvements can be at the equipment level, such as the gains from using a standard subsea tree design or at the full platform design.
8The supply-chain efficiencies and common-standard project-design solutions are great opportunities when applied on an individual company level. However, innovations and deeper collaborations across industry players are required to significantly transform the deepwater-project cost structure. One example is to further reduce project complexity and capital costs through industry-level agreements that harmonize equipment specifications and standard development solutions.
Click on Reports for more Details
8The largest opportunity for operators may be to rigorously drive down scope of work to a minimal level to meet functional requirements and regulations.
8There is substantial potential for additional cost savings through common design innovations at the project level. The standardization of equipment, design, and installation will improve project economics through enhanced delivery schedules, reduction in engineering, manufacturing and installation costs, and reduction of risk in the project execution. These improvements can be at the equipment level, such as the gains from using a standard subsea tree design or at the full platform design.
8The supply-chain efficiencies and common-standard project-design solutions are great opportunities when applied on an individual company level. However, innovations and deeper collaborations across industry players are required to significantly transform the deepwater-project cost structure. One example is to further reduce project complexity and capital costs through industry-level agreements that harmonize equipment specifications and standard development solutions.
Click on Reports for more Details
One of the most effective themes to enhance project performance and reduce cost is early engagement with the engineering, procurement, construction, and installation (EPCI) contractor, paired with continuity and consistency of project-management personnel, which provides the best opportunity for execution excellence. Gaps in project planning and front-end engineering design typically result in costly change to the overall project later.
8Indian E&P operators will have to abandon the typical work-package-by-work-package relationship with reimbursable or lump-sum contracts. with EPC contractors.
8A company such as ONGC has not opened the door for early engagement with contractors until later in the process .
8By this time, effectively 90 percent of the cost has been determined, with savings opportunities potentially left unidentified.
8Some sort of framework agreements with key suppliers are in place with key service providers but only on paper.
Click on Reports for more Details
8Indian E&P operators will have to abandon the typical work-package-by-work-package relationship with reimbursable or lump-sum contracts. with EPC contractors.
8A company such as ONGC has not opened the door for early engagement with contractors until later in the process .
8By this time, effectively 90 percent of the cost has been determined, with savings opportunities potentially left unidentified.
8Some sort of framework agreements with key suppliers are in place with key service providers but only on paper.
Click on Reports for more Details
A company such as ONGC can take advantage of new alliances and partnership models underway in the industry and have the potential to improve cost savings and project performance even further.
8Strategic alliances between EPCI and equipment companies, such as OneSubsea (formed by Cameron, Schlumberger, and Subsea 7) and the alliance between FMC Technologies and Technip, have formed recently to better address operator challenges and reduce costs, with the aim to drive greater value in project delivery.
8For example, by rationalizing and simplifying the overall field layout and integrating subsea umbilicals, risers, flowlines, and subsea production and processing systems, costs can be dramatically reduced by eliminating redundant subsea hardware, optimizing and derisking the offshore construction campaign, integrating across all infrastructures, and streamlining project teams.
Click on Reports for more Details
8Strategic alliances between EPCI and equipment companies, such as OneSubsea (formed by Cameron, Schlumberger, and Subsea 7) and the alliance between FMC Technologies and Technip, have formed recently to better address operator challenges and reduce costs, with the aim to drive greater value in project delivery.
8For example, by rationalizing and simplifying the overall field layout and integrating subsea umbilicals, risers, flowlines, and subsea production and processing systems, costs can be dramatically reduced by eliminating redundant subsea hardware, optimizing and derisking the offshore construction campaign, integrating across all infrastructures, and streamlining project teams.
Click on Reports for more Details
There has been much speculation over the export price of the first cargo shipped by GAIL from the Sabine Pass terminal in the US.
8Data available with this website shows that the price at the export point was $3.77/mmbtu.
8This value did not factor in the full fixed price element that will be typically charged once GAIL begins lifting its long term cargoes from the US terminal.
8Clearly this was an experimental cargo that was meant to sent out a symbolic message that US LNG can reach India.
8Whether or not Sabine Pass cargoes can be brought to Indian regasfication terminals at full cost and yet be competitively priced remains a million dollar question.
Click on Reports for more Details
8Data available with this website shows that the price at the export point was $3.77/mmbtu.
8This value did not factor in the full fixed price element that will be typically charged once GAIL begins lifting its long term cargoes from the US terminal.
8Clearly this was an experimental cargo that was meant to sent out a symbolic message that US LNG can reach India.
8Whether or not Sabine Pass cargoes can be brought to Indian regasfication terminals at full cost and yet be competitively priced remains a million dollar question.
Click on Reports for more Details
Has BP given up on its partnership with RIL in the KG Basin?
8Highest level sources in BP headquarters have told this website that India is under "wait and watch" from BP at this juncture and no decision has been taken to expand its footprint under the new pricing regime.
8"To put it in another way, globally, our focus is not on India," the sources said.
8India also does not figure in the current map of BP's current exploration regions and potential profit centers around the world.
8It is pertinent to note that BP had spent as much as $8 billion in India with no visible return on investment.
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8Highest level sources in BP headquarters have told this website that India is under "wait and watch" from BP at this juncture and no decision has been taken to expand its footprint under the new pricing regime.
8"To put it in another way, globally, our focus is not on India," the sources said.
8India also does not figure in the current map of BP's current exploration regions and potential profit centers around the world.
8It is pertinent to note that BP had spent as much as $8 billion in India with no visible return on investment.
Click on Reports for more Details
Petrotech 2016 is going to be held in Delhi between December 5-7, 2016.
8The theme this time is: "Hydrocarbons to fuel the future: Choices and Challenges
8The conference is being arranged by IOC this time
8The website provides here details of:
8Fee structures for delegates and exhibits
8Sponsorship opportunities
8Speakers
8And a lot more is in the offing
Click on Reports for more Details
8The theme this time is: "Hydrocarbons to fuel the future: Choices and Challenges
8The conference is being arranged by IOC this time
8The website provides here details of:
8Fee structures for delegates and exhibits
8Sponsorship opportunities
8Speakers
8And a lot more is in the offing
Click on Reports for more Details
Will the dramatic advances in Artificial Intelligence stymie Narender Modi's grand ambition of finding employment for hundreds of millions of Indians?
8After many false dawns, Artificial Intelligence (AI) has made extraordinary progress in the past few years, thanks to a versatile technique called “deep learning”. Given enough data, large (or “deep”) neural networks, modelled on the brain’s architecture, can be trained to do all kinds of things. They power Google’s search engine, Facebook’s automatic photo tagging, Apple’s voice assistant, Amazon’s shopping recommendations and Tesla’s self-driving cars. But this rapid progress has also led to concerns about job losses.
8The entire Indian outsourcing industry can disappear in a stroke once automatic answering systems replace call centre executives in marketing and analytical functions.
8Drivers can go out of job when driverless cars go on road within the coming decade.
8Robots will replace workers in factories on a mass scale.
8A report claims that 47% of American jobs face potential automation in the next decade or two.
8In India too automation will have a deeply distorting impact on the labour market.
8The petroleum industry in India will not be spared.
8If AI makes the rich world less dependent on cheap labour from countries such as India, it will have a dramatic impact on the mid-level Indian workforce.
8Those who are employed today may become jobless tomorrow. Instead of a rash of new jobs, unemployment figures will go up and not down.
8AI may deny a country such as India an opportunity for economic development through industrialization.
8Economists now talk of "premature deindustrialization". Manufacturing employment share in India may not go beyond the current level of 15% because of increasing automation, denying the country the right to push its population out of poverty by employing them in new factories unlike how the western world and China did to its labour force in the past.
8India will find it harder to achieve economic growth by moving its labour force from agriculture to factories, forcing it to look for new growth models.
8Worse still, without manufacturing jobs to build a middle class, India may end up with high income inequality built into its core economic structures.
Click on Details for more Details
8After many false dawns, Artificial Intelligence (AI) has made extraordinary progress in the past few years, thanks to a versatile technique called “deep learning”. Given enough data, large (or “deep”) neural networks, modelled on the brain’s architecture, can be trained to do all kinds of things. They power Google’s search engine, Facebook’s automatic photo tagging, Apple’s voice assistant, Amazon’s shopping recommendations and Tesla’s self-driving cars. But this rapid progress has also led to concerns about job losses.
8The entire Indian outsourcing industry can disappear in a stroke once automatic answering systems replace call centre executives in marketing and analytical functions.
8Drivers can go out of job when driverless cars go on road within the coming decade.
8Robots will replace workers in factories on a mass scale.
8A report claims that 47% of American jobs face potential automation in the next decade or two.
8In India too automation will have a deeply distorting impact on the labour market.
8The petroleum industry in India will not be spared.
8If AI makes the rich world less dependent on cheap labour from countries such as India, it will have a dramatic impact on the mid-level Indian workforce.
8Those who are employed today may become jobless tomorrow. Instead of a rash of new jobs, unemployment figures will go up and not down.
8AI may deny a country such as India an opportunity for economic development through industrialization.
8Economists now talk of "premature deindustrialization". Manufacturing employment share in India may not go beyond the current level of 15% because of increasing automation, denying the country the right to push its population out of poverty by employing them in new factories unlike how the western world and China did to its labour force in the past.
8India will find it harder to achieve economic growth by moving its labour force from agriculture to factories, forcing it to look for new growth models.
8Worse still, without manufacturing jobs to build a middle class, India may end up with high income inequality built into its core economic structures.
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Global EOI for supply and commissioning of Online H2S Analyser, Rajasthan Asset [CAIRN] Details
8Excavation and Back Filling for Cathodic Protection Pipeline, Mangalore [MRPL] Details
8Non-Destructive Testing and Thickness Survey of Equipments, Hazira Plant [ONGC] Details
8Supply of Sensors for Portable Multi Gas Detectors, Paradip Refinery [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Assam, Arunachal makes India a potential OPEC nation Details
8MNRE sets target of setting up one lakh family type biogas plants for FY 2016-17 Details
8Russia’s giant Vankor oilfield reaches peak production level: ONGC Details
8Qatar Petroleum to take over export marketing business Tasweeq Details
8Algeria oil and gas output on the rise: Sonatrach Details
8BHP lifts exploration spending by nearly 30 per cent, targets copper and oil Details
8Woodside, Mitsui to invest $1.9 bln in Greater Enfield oil development Details
8Oil prices stabilize after Brexit vote, but refined products glut looms Details
8Oil extends decline as Brexit concerns linger Details
8India needs $1.5 trillion for infrastructure, power, renewable energy: Arun Jaitley Details
8Aban Offshore rises 3%; bags contract from ONGC Details
850 lakh LPG connections for BPL families in Bihar: Pradhan Details
8Oil, gas block auctions under HELP not likely before January Details
8Modi’s $27 Billion Oil quest offers lifeline to services firms Details
8Reliance May oil imports down 13.2% Details
8Oilex plans to drill another well in India's Cambay Gas field Details
You can also click on Newsclips for more Details
8Global EOI for supply and commissioning of Online H2S Analyser, Rajasthan Asset [CAIRN] Details
8Excavation and Back Filling for Cathodic Protection Pipeline, Mangalore [MRPL] Details
8Non-Destructive Testing and Thickness Survey of Equipments, Hazira Plant [ONGC] Details
8Supply of Sensors for Portable Multi Gas Detectors, Paradip Refinery [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Assam, Arunachal makes India a potential OPEC nation Details
8MNRE sets target of setting up one lakh family type biogas plants for FY 2016-17 Details
8Russia’s giant Vankor oilfield reaches peak production level: ONGC Details
8Qatar Petroleum to take over export marketing business Tasweeq Details
8Algeria oil and gas output on the rise: Sonatrach Details
8BHP lifts exploration spending by nearly 30 per cent, targets copper and oil Details
8Woodside, Mitsui to invest $1.9 bln in Greater Enfield oil development Details
8Oil prices stabilize after Brexit vote, but refined products glut looms Details
8Oil extends decline as Brexit concerns linger Details
8India needs $1.5 trillion for infrastructure, power, renewable energy: Arun Jaitley Details
8Aban Offshore rises 3%; bags contract from ONGC Details
850 lakh LPG connections for BPL families in Bihar: Pradhan Details
8Oil, gas block auctions under HELP not likely before January Details
8Modi’s $27 Billion Oil quest offers lifeline to services firms Details
8Reliance May oil imports down 13.2% Details
8Oilex plans to drill another well in India's Cambay Gas field Details
You can also click on Newsclips for more Details
NITI Ayog claims that India's energy security is under serious threat because of an alarming increase in import dependency.
8The paper claims that in FY16, India's petroleum consumption grew by a historic high of 11%, while power consumption grew by over 5%.
8While these figures went up, imports grew too, to reach the highest share ever in total energy.
8India imported 46% of its total primary energy (commercial) in 2015-16
8It was 38% in 2011-12 (at the end of the Eleventh Five Year Plan), and has risen every year since then.
8"The creeping growth of the share of imported energy in our demand threatens our energy security," the paper claims.
8"The steadily rising energy import dependence is a cause for concern. With a target of sustained above 8% annual growth rate in GDP, India’s energy imports may rise rapidly and impair our energy security. Presently, international commodity prices are low and energy import bill is not worrisome. But, oil prices are up by nearly 60% from their recent lows. Energy is good for India, but there are several flip sides of the coin," the paper said.
Click on Reprots for more Details
8The paper claims that in FY16, India's petroleum consumption grew by a historic high of 11%, while power consumption grew by over 5%.
8While these figures went up, imports grew too, to reach the highest share ever in total energy.
8India imported 46% of its total primary energy (commercial) in 2015-16
8It was 38% in 2011-12 (at the end of the Eleventh Five Year Plan), and has risen every year since then.
8"The creeping growth of the share of imported energy in our demand threatens our energy security," the paper claims.
8"The steadily rising energy import dependence is a cause for concern. With a target of sustained above 8% annual growth rate in GDP, India’s energy imports may rise rapidly and impair our energy security. Presently, international commodity prices are low and energy import bill is not worrisome. But, oil prices are up by nearly 60% from their recent lows. Energy is good for India, but there are several flip sides of the coin," the paper said.
Click on Reprots for more Details
The new government is laying a lot of emphasis on energy efficiency.
8The website carries here a full presentation on the amendments to the Perform, Achieve and Trade (PAT) scheme which are being pushed by the government.
8Every Designated Consumer will have to put in place a transparent, independent and credible Monitoring and Verification (M&V) system for Energy Consumption and Production based on the Bureau of Energy Efficiency (Manner and Intervals of Time for Conduct of Energy Audit) Regulations, 2010 for compliance with energy consumption norms.
8Times bound targets will be set
8ESCerts will be issued in electronic form for energy savings done for 1 ESCerts. Every EScert will be equivalent to 1 tonne of Oil Equivalent (toe), and the price tag will be Rs 10968.
8These EScerts can be sold through power exchanges and those Designated Consumers who are short of target can make it up by purchasing these certificates.
8If a consumer fails to comply with the timelines, he will have to pay Rs. 10 lakh as penalty, in addition to Rs. 10,000 per day and, in the case of continuing failure, additional penalties.
8Any amount payable under this section, if not paid, may be recovered in the form of an arrear of land revenue.
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8The website carries here a full presentation on the amendments to the Perform, Achieve and Trade (PAT) scheme which are being pushed by the government.
8Every Designated Consumer will have to put in place a transparent, independent and credible Monitoring and Verification (M&V) system for Energy Consumption and Production based on the Bureau of Energy Efficiency (Manner and Intervals of Time for Conduct of Energy Audit) Regulations, 2010 for compliance with energy consumption norms.
8Times bound targets will be set
8ESCerts will be issued in electronic form for energy savings done for 1 ESCerts. Every EScert will be equivalent to 1 tonne of Oil Equivalent (toe), and the price tag will be Rs 10968.
8These EScerts can be sold through power exchanges and those Designated Consumers who are short of target can make it up by purchasing these certificates.
8If a consumer fails to comply with the timelines, he will have to pay Rs. 10 lakh as penalty, in addition to Rs. 10,000 per day and, in the case of continuing failure, additional penalties.
8Any amount payable under this section, if not paid, may be recovered in the form of an arrear of land revenue.
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The National Energy Policy may suggest pushing gas as the idea fuel.
8NITI Ayog has figured that natural gas is cheaper than oil when compared on calorific value.
8"Let us say, if India were to theoretically (it is possible over time) replace all its oil with gas, there would be roughly 16% saving over the oil bill (assuming oil price at $50/barrel and gas at $7/mmbtu). This is not an insignificant number as our net oil bill is over $60 billion. Shifting to coal could be yet cheaper, but then coal cannot substitute oil across all consuming sectors, the way gas can," the paper said.
8India's share of oil is rising and that of gas is coming down. The share of oil is at 31%, while that of gas has come down from 11% to 7% in the recent years.
8Making the correct fuel choice when importing oil and gas will be the focus in the new policy.
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8NITI Ayog has figured that natural gas is cheaper than oil when compared on calorific value.
8"Let us say, if India were to theoretically (it is possible over time) replace all its oil with gas, there would be roughly 16% saving over the oil bill (assuming oil price at $50/barrel and gas at $7/mmbtu). This is not an insignificant number as our net oil bill is over $60 billion. Shifting to coal could be yet cheaper, but then coal cannot substitute oil across all consuming sectors, the way gas can," the paper said.
8India's share of oil is rising and that of gas is coming down. The share of oil is at 31%, while that of gas has come down from 11% to 7% in the recent years.
8Making the correct fuel choice when importing oil and gas will be the focus in the new policy.
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NITI Ayog's ambitious National Energy Policy is going to make a big push for raising domestic production of oil and gas while rewarding measures that will raise energy efficiency.
8Energy efficiency will be an area of prime focus as it will allow India to meet its energy related objectives in a less intensive manner, a background paper says.
8NITI Ayog is looking at raising energy efficiency by 25% within a given target period through measures such as:
8Pitching for higher usage of LED bulbs
8Pushing for Perform-Achieve-Trade (PAT) in industries
8Conserving energy in buildings through envelope optimization
8Improving vehicular fuel efficiency.
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8Energy efficiency will be an area of prime focus as it will allow India to meet its energy related objectives in a less intensive manner, a background paper says.
8NITI Ayog is looking at raising energy efficiency by 25% within a given target period through measures such as:
8Pitching for higher usage of LED bulbs
8Pushing for Perform-Achieve-Trade (PAT) in industries
8Conserving energy in buildings through envelope optimization
8Improving vehicular fuel efficiency.
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A private sector operator is planning to drill a well in a producing block in Gujarat.
8It is a horizontal well with the potential for fracking at a later date
8The idea is to be able to exploit the Eocene siltstones.
8RFQs have not been floated yet.
8A capital approval process is going to be undertaken in consultation with its JV partner in a short while from now
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8It is a horizontal well with the potential for fracking at a later date
8The idea is to be able to exploit the Eocene siltstones.
8RFQs have not been floated yet.
8A capital approval process is going to be undertaken in consultation with its JV partner in a short while from now
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Russian President Vladimir Putin is looking to sell a combined 19.5% stake in Russia's state-owned Rosneft to China and India.
8Both deals are together worth a whopping $ 11 billion.
8With a fiscal breakeven oil price at around $100 per barrel, Russia is finding it hard to emerge from its budget deficit at current oil price levels.
8As Russia strikes oil deals with India, it is simultaneously strengthening its relationship with China.
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8Both deals are together worth a whopping $ 11 billion.
8With a fiscal breakeven oil price at around $100 per barrel, Russia is finding it hard to emerge from its budget deficit at current oil price levels.
8As Russia strikes oil deals with India, it is simultaneously strengthening its relationship with China.
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Well placed sources said that the Indian public sector trio will have to tie up equity with a local Iranian company -- from out of a list that will handed over by the government -- just in case it is awarded a contract to develop the Farzad field.
8The Indian consortium will have to move fast lest companies from out of the list are tied up by other international companies which have made a beeline to Iran.
8For reference purposes, the website carries here the list of local Iranian companies with which foreign companies will have to necessarily tie up.
8The list was finalized by Iran late last week.
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8The Indian consortium will have to move fast lest companies from out of the list are tied up by other international companies which have made a beeline to Iran.
8For reference purposes, the website carries here the list of local Iranian companies with which foreign companies will have to necessarily tie up.
8The list was finalized by Iran late last week.
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There is still a fair amount of uncertainty over whether ONGC Videsh Ltd (OVL), along with OIL and IOC, will be given the first right of development for the Farzad-B gas field in Iran.
8The Iranians have have made a promise to the Indian government that they will indeed hand over the field to OVL and not put it in the auction basket but there is still apprehension on what Tehran will do next.
8Iran seems to be ignoring India in recent days while speaking of tie-ups with the likes of Total, Eni and Gazprom.
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8The Iranians have have made a promise to the Indian government that they will indeed hand over the field to OVL and not put it in the auction basket but there is still apprehension on what Tehran will do next.
8Iran seems to be ignoring India in recent days while speaking of tie-ups with the likes of Total, Eni and Gazprom.
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ONGC is all set to award the tender for the 1500-metre dynamically positioned semi-submersible rig to Chennai-based Aban Offshore at a day rate of $ 105,582 for the rig, Aban Abraham.
8Aban beat Transocean's offer for the Deepwater Millennium which was offered at a day rate of $ 149,000.
8The rig is to be hired for two years.
The others who were in the race were:
8Vantage Drilling for the Platinium Explorer for $162,000
8Sea Drill's West Orion for $ 162,500
8India Dynamic Drilling for a Noble owned rig for $173,530
8Saipem for the the Saipem 12000 for $ 268,000
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8Aban beat Transocean's offer for the Deepwater Millennium which was offered at a day rate of $ 149,000.
8The rig is to be hired for two years.
The others who were in the race were:
8Vantage Drilling for the Platinium Explorer for $162,000
8Sea Drill's West Orion for $ 162,500
8India Dynamic Drilling for a Noble owned rig for $173,530
8Saipem for the the Saipem 12000 for $ 268,000
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Industry sources said that Aban had bid "two low" for the rig.
8"The very fact that that there is a huge differential between the first and the second bid shows that Aban is cutting it to the bone with its pricing," an industry observer said.
8The pricing has been dubbed by many as "suicidal".
8The unit, which is capable of operating in 6600 feet of water, has recently completed a contract in Brazil and will be diverted to South Asia once a letter of intent is placed.
8The lowest day rates are up to 60% lower than the earlier contracts these rigs were in.
8These rates will come as good news for ONGC, which is trying to trim its costs in the face of falling crude prices.
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8"The very fact that that there is a huge differential between the first and the second bid shows that Aban is cutting it to the bone with its pricing," an industry observer said.
8The pricing has been dubbed by many as "suicidal".
8The unit, which is capable of operating in 6600 feet of water, has recently completed a contract in Brazil and will be diverted to South Asia once a letter of intent is placed.
8The lowest day rates are up to 60% lower than the earlier contracts these rigs were in.
8These rates will come as good news for ONGC, which is trying to trim its costs in the face of falling crude prices.
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ONGC is taking full advantage of a buyers' market to push through hard deals with suppliers of equipment and services
8It is mixing and matching offers as it finds convenient
8The company was meant to place a letter of intent (LOI) on Transocean's 600-metre rig, the semi-submersible Jack Bates, at a day rate of $127k/day for two years
8The order in fact was confirmed by Transocean.
8Now ONGC wants Transocean to lower the rate in light of Aban's significantly lower offer in the 1500-metre category.
8The Transocean rig has just got off a contract with Impex of Australia at a much higher rate of 195,000 per day.
8Transocean faces a tough choice as it will have to end up retiring the rig, if its variable costs are not covered.
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8It is mixing and matching offers as it finds convenient
8The company was meant to place a letter of intent (LOI) on Transocean's 600-metre rig, the semi-submersible Jack Bates, at a day rate of $127k/day for two years
8The order in fact was confirmed by Transocean.
8Now ONGC wants Transocean to lower the rate in light of Aban's significantly lower offer in the 1500-metre category.
8The Transocean rig has just got off a contract with Impex of Australia at a much higher rate of 195,000 per day.
8Transocean faces a tough choice as it will have to end up retiring the rig, if its variable costs are not covered.
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