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Jun 2017
LNG portfolio sales are a recent phenomena.
8The website carries here the full details of portfolio contracts by all major portfolio players in the world going up the year 2044
8An analysis shows that by early 2020 top 4 LNG portfolio suppliers (BG, Total, Shell, BP) accounts for 25 out of 42 portfolio contracts; these are the same companies who started portfolio sales strategy with BG as its main driver.
8But other players have begun getting into the list and the monopoly of the big players is set to erode over time.
A detailed list of such contracts worldwide as of 2017 are given in terms of:
8Average annual contract volume
8Total contract volume
8Earliest start date
8Latest end date
8Number of contracts
8Peak volume per year
8Peak year
8Contract volume as percentage of LNG equity production.
Click on Reports for more. Details
8The website carries here the full details of portfolio contracts by all major portfolio players in the world going up the year 2044
8An analysis shows that by early 2020 top 4 LNG portfolio suppliers (BG, Total, Shell, BP) accounts for 25 out of 42 portfolio contracts; these are the same companies who started portfolio sales strategy with BG as its main driver.
8But other players have begun getting into the list and the monopoly of the big players is set to erode over time.
A detailed list of such contracts worldwide as of 2017 are given in terms of:
8Average annual contract volume
8Total contract volume
8Earliest start date
8Latest end date
8Number of contracts
8Peak volume per year
8Peak year
8Contract volume as percentage of LNG equity production.
Click on Reports for more. Details
The French government's announcement last week that it will stop giving out E&P exploration licenses on account of environmental concerns and availability of alternate fuels has stunned the oil & gas industry.
8France has ignited what is likely to be a global revolution to stop new oil and gas licensing on the premise that the world cannot afford to dig for oil anymore without doing serious ecological and environmental damage. Even more importantly, there is a growing belief that renewable energy can be a viable substitute for oil and gas.
8As more countries turn away from the oil and gas industry, India is sprucing up its licensing rules to attract more investments in new acreages. More policy fixes are planned beyond what has already been done to induce companies to invest in its undiscovered sedimentary basins.
8Even though India is not a hydro carbon rich country and investors can find more prospective acreages elsewhere, this website puts forward the reasons why India will continue to find investors for its E&P blocks
Click on Details and Reports for more Details
8France has ignited what is likely to be a global revolution to stop new oil and gas licensing on the premise that the world cannot afford to dig for oil anymore without doing serious ecological and environmental damage. Even more importantly, there is a growing belief that renewable energy can be a viable substitute for oil and gas.
8As more countries turn away from the oil and gas industry, India is sprucing up its licensing rules to attract more investments in new acreages. More policy fixes are planned beyond what has already been done to induce companies to invest in its undiscovered sedimentary basins.
8Even though India is not a hydro carbon rich country and investors can find more prospective acreages elsewhere, this website puts forward the reasons why India will continue to find investors for its E&P blocks
Click on Details and Reports for more Details
GAIL is an equity holder for 5.8 MMTPA of LNG out of the US and yet it seems to have missed the portfolio bus entirely.
8The 2017 data carried by this website will show that all the big names with equity LNG are already in the portfolio business, with contracts finalized well into the future.
8GAIL is not in the picture anywhere here, though it should have been. It had enough time to be in the list.
8Except for placing a small quantity of LNG on the long term basis, the Indian gas major has not been able to push its way through in this highly sophisticated and competitive market.
8The reason for it is the one-dimensional thinking by GAIL, that it would be able to garner sellers in Europe or somehow bring the LNG to India, either directly or via swap mechanism.
8The portfolio business is beyond GAIL's grasp. It is both out gunned and out maneuvered here.
8GAIL's idea is to float an international tender to swap or sell its LNG commitments, much the same way as it does when ordering for a spot cargo or its domestic pipeline contracts, and wait for someone to respond.
8The Indian gas major automatically assumes that the world will respond, but there is no reasonable response because more agile players have already tied up the business.
8It is too late for GAIL to learn the tricks of the trade either, as it requires a sophistication of approach and specialized manpower that the company lacks.
8The company has no option but to offload its US commitments into India at a huge discount.
8A hit of USD1/mmBtu could wipe out 22% of GAIL's EBIDTA.
8Everyone is now waiting to figure out what is going to be the exact level of discount -- as that will depend on the prevailing ex-ship LNG price in India -- and by how much will its profitability be eroded by the discount.
Click on Reports for more Details
8The 2017 data carried by this website will show that all the big names with equity LNG are already in the portfolio business, with contracts finalized well into the future.
8GAIL is not in the picture anywhere here, though it should have been. It had enough time to be in the list.
8Except for placing a small quantity of LNG on the long term basis, the Indian gas major has not been able to push its way through in this highly sophisticated and competitive market.
8The reason for it is the one-dimensional thinking by GAIL, that it would be able to garner sellers in Europe or somehow bring the LNG to India, either directly or via swap mechanism.
8The portfolio business is beyond GAIL's grasp. It is both out gunned and out maneuvered here.
8GAIL's idea is to float an international tender to swap or sell its LNG commitments, much the same way as it does when ordering for a spot cargo or its domestic pipeline contracts, and wait for someone to respond.
8The Indian gas major automatically assumes that the world will respond, but there is no reasonable response because more agile players have already tied up the business.
8It is too late for GAIL to learn the tricks of the trade either, as it requires a sophistication of approach and specialized manpower that the company lacks.
8The company has no option but to offload its US commitments into India at a huge discount.
8A hit of USD1/mmBtu could wipe out 22% of GAIL's EBIDTA.
8Everyone is now waiting to figure out what is going to be the exact level of discount -- as that will depend on the prevailing ex-ship LNG price in India -- and by how much will its profitability be eroded by the discount.
Click on Reports for more Details
The website carries here a detailed investigation of the two emerging trends in the LNG market.
8One is the point to point asset specific sale of LNG while the other is an integrated production, supply, trading and marketing (ISTM) sales strategy.
8At the heart of the ISTM strategy, therefore, is trading functionality that allows buyers and sellers to carry out such optimization. Note that this could be both spatial (optimization between different locations) as well as temporal (optimization between different time frames)
8The emergence of LNG ‘portfolio’ contracts therefore represents such a shift in strategy by LNG buyers and sellers.
8LNG portfolio contracts are those contracts without particular production assets attached.
8As the LNG market becomes more sophisticated, it is the portfolio players who will rule the day.
Click on Reports for more Details
8One is the point to point asset specific sale of LNG while the other is an integrated production, supply, trading and marketing (ISTM) sales strategy.
8At the heart of the ISTM strategy, therefore, is trading functionality that allows buyers and sellers to carry out such optimization. Note that this could be both spatial (optimization between different locations) as well as temporal (optimization between different time frames)
8The emergence of LNG ‘portfolio’ contracts therefore represents such a shift in strategy by LNG buyers and sellers.
8LNG portfolio contracts are those contracts without particular production assets attached.
8As the LNG market becomes more sophisticated, it is the portfolio players who will rule the day.
Click on Reports for more Details
Like GAIL another company which seems to be slow to adjust to adverse ground realities is Indian Oil Corporation (IOC).
8The market share loss has become significant, with private players achieving 3% share in petrol and 8% in diesel.
8Over the next two years, free cash flow would be good.
8However, with the company is committed to a Rs 1,75,000 crore of investments in the next seven years, so the balance sheet is likely to be strained.
8IOC still hasn't listed out the medium term risks, within the next five to 10 years, when disruptive technology, like the advent of a competitive electric car, begins to bite the company.
8That is likely to hit the company as hard as nimble competitors are likely to do by eating into existing market share in petroleum products.
8An alternative strategy is lacking
8For reference purposes, the website carries here a detailed outline of IOC's future plans, risk perception and its existing infrastructure.
Click on Reports for more Details
8The market share loss has become significant, with private players achieving 3% share in petrol and 8% in diesel.
8Over the next two years, free cash flow would be good.
8However, with the company is committed to a Rs 1,75,000 crore of investments in the next seven years, so the balance sheet is likely to be strained.
8IOC still hasn't listed out the medium term risks, within the next five to 10 years, when disruptive technology, like the advent of a competitive electric car, begins to bite the company.
8That is likely to hit the company as hard as nimble competitors are likely to do by eating into existing market share in petroleum products.
8An alternative strategy is lacking
8For reference purposes, the website carries here a detailed outline of IOC's future plans, risk perception and its existing infrastructure.
Click on Reports for more Details
How late is ONGC's Daman development plan running?
8ONGC believes that it can deliver 2-3 mmscmd of gas by May, 2018 and peak gas of 8 mmscmd possibly by 2020.
8But is that a realistic target given that the company has not finished awarding the contracts for the project after EPC contractor Swiber Offshore Construction, Singapore declared bankruptcy.
Click on Details to find out more Details
8ONGC believes that it can deliver 2-3 mmscmd of gas by May, 2018 and peak gas of 8 mmscmd possibly by 2020.
8But is that a realistic target given that the company has not finished awarding the contracts for the project after EPC contractor Swiber Offshore Construction, Singapore declared bankruptcy.
Click on Details to find out more Details
It is true that the bankruptcy of Swiber Offshore Construction delayed the commissioning of the crucial Daman project
8But could ONGC have acted faster after the bankruptcy was declared?
8The subcontracts were already awarded by Swiber before it went down
8So what took so long to revive those contracts?
Click on Details for more Details
8But could ONGC have acted faster after the bankruptcy was declared?
8The subcontracts were already awarded by Swiber before it went down
8So what took so long to revive those contracts?
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Overhauling of diesel engine of Gas Turbine at refinery Details
8Procurement of Mechanical Seal Spares at refinery Details
8Maintenance of LPG mounded bullets with its associated jobs at refinery Details
8Procurement of Heat Exchangers for refinery Details
8Corrigendum: Supply of Light Fuel Oil and Heavy Fuel Oil Strainers Details
8Supply of Bare and Coated SAWL or SAWH or HFW Carbon Steel Line-pipes Details
8Laying of MDPE Pipelines Network and other associated works for supply of Piped Natural Gas in Vijayawada City Details
8Laying of MDPE Pipelines Network and other associated works for supply of Piped Natural Gas in Kakinada City Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil rises for 6th session, buoyed by U.S. output decline Details
8OPEC should let oil prices rebalance the market: Kemp Details
8Canada public pension fund commits up to $1 bln to buy U.S. oil, gas assets Details
8Largest consumer Asia falls further behind U.S., Europe in financial oil trading Details
8S.Korea's SK Group signs MOU with GE to jointly develop U.S. shale gas Details
8Govt looks to improve output from domestic oil & gas fields Details
8GST is about replacing one large mess by a small mess: P. Chidambaram Details
8GST will make India a free and democratic market: Anil Ambani Details
8High oil bill: Government exhorts national companies to raise production Details
8ONGC rescinds pacts with Schlumberger, Halliburton Details
8UAE energy chief downplays gas shortfall from Qatar crisis Details
8Shell's floating LNG facility sets sail from South Korea for Australia Details
You can also click on Newsclips for more Details
8Overhauling of diesel engine of Gas Turbine at refinery Details
8Procurement of Mechanical Seal Spares at refinery Details
8Maintenance of LPG mounded bullets with its associated jobs at refinery Details
8Procurement of Heat Exchangers for refinery Details
8Corrigendum: Supply of Light Fuel Oil and Heavy Fuel Oil Strainers Details
8Supply of Bare and Coated SAWL or SAWH or HFW Carbon Steel Line-pipes Details
8Laying of MDPE Pipelines Network and other associated works for supply of Piped Natural Gas in Vijayawada City Details
8Laying of MDPE Pipelines Network and other associated works for supply of Piped Natural Gas in Kakinada City Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil rises for 6th session, buoyed by U.S. output decline Details
8OPEC should let oil prices rebalance the market: Kemp Details
8Canada public pension fund commits up to $1 bln to buy U.S. oil, gas assets Details
8Largest consumer Asia falls further behind U.S., Europe in financial oil trading Details
8S.Korea's SK Group signs MOU with GE to jointly develop U.S. shale gas Details
8Govt looks to improve output from domestic oil & gas fields Details
8GST is about replacing one large mess by a small mess: P. Chidambaram Details
8GST will make India a free and democratic market: Anil Ambani Details
8High oil bill: Government exhorts national companies to raise production Details
8ONGC rescinds pacts with Schlumberger, Halliburton Details
8UAE energy chief downplays gas shortfall from Qatar crisis Details
8Shell's floating LNG facility sets sail from South Korea for Australia Details
You can also click on Newsclips for more Details
The PNGRB's provisions for open access’ and ‘regulated tariff’ will be extended to gas off-takers at the LNG terminals.
8The government will issue necessary policy guidelines for this as soon as possible.
8This will create the necessary tail winds needed to push for a larger share of gas in India's energy mix
8This is in line with the current thinking that the oil & gas sector needs world class regulators.
8It will be ensured that the PNGRB do not end up in any stake-holder capture, be it the consumers or the investors.
8In order to achieve energy security, supply security is essential. The sooner are the regulations issued, swifter will be the response from industry.
8Statutory provisions will be so made to provide for effective regulators in the oil & gas industry.
Click on Reports for more Details
8The government will issue necessary policy guidelines for this as soon as possible.
8This will create the necessary tail winds needed to push for a larger share of gas in India's energy mix
8This is in line with the current thinking that the oil & gas sector needs world class regulators.
8It will be ensured that the PNGRB do not end up in any stake-holder capture, be it the consumers or the investors.
8In order to achieve energy security, supply security is essential. The sooner are the regulations issued, swifter will be the response from industry.
8Statutory provisions will be so made to provide for effective regulators in the oil & gas industry.
Click on Reports for more Details
The government will also going to smoothen the entry of the private sector into the petroleum sector
8The access to common carrier and marketing infrastructure of public sector oil marketing companies will be facilitated
8ATF common carrier rules will be liberalized for easy entry of private players
8These products are to be notified soon for regulation by the PNGRB, which will then set away working out the common carrier principles
Click on Reports for more Details
8The access to common carrier and marketing infrastructure of public sector oil marketing companies will be facilitated
8ATF common carrier rules will be liberalized for easy entry of private players
8These products are to be notified soon for regulation by the PNGRB, which will then set away working out the common carrier principles
Click on Reports for more Details
A new gas storage policy will soon be put together.
8There is now a full awareness in the government that along the lines of a normative petroleum product storage infrastructure, even gas storage will be required if consumers have to be assured of un-interrupted supplies.
8Depleted oil and gas fields of NOCs will be offered on competitive basis to interested gas marketers, both for strategic and commercial storages.
8A policy will announced soon
Click on Reports for more Details
8There is now a full awareness in the government that along the lines of a normative petroleum product storage infrastructure, even gas storage will be required if consumers have to be assured of un-interrupted supplies.
8Depleted oil and gas fields of NOCs will be offered on competitive basis to interested gas marketers, both for strategic and commercial storages.
8A policy will announced soon
Click on Reports for more Details
There is now an increasing feeling in the top echelons of the government that the PNGRB will have to be strengthened to ensure a smoother and bipartisan regular regime.
8It is felt that there is every merit in extending the remit of PNGRB over selected statutory aspects of the upstream business, including HSE, data collection, joint development of reservoirs in adjacent blocks, sharing of infrastructure and promotion of acreages.
8However, the contract administration role of PSCs will remain with the DGH.
8PNGRB will be equipped with adequate and competent resources to be able to do so
Click on Reports for more Details
8It is felt that there is every merit in extending the remit of PNGRB over selected statutory aspects of the upstream business, including HSE, data collection, joint development of reservoirs in adjacent blocks, sharing of infrastructure and promotion of acreages.
8However, the contract administration role of PSCs will remain with the DGH.
8PNGRB will be equipped with adequate and competent resources to be able to do so
Click on Reports for more Details
To take care of peaking load problems with the advent of renewable energy, the government will encourage flexibility in coal fired power plants
8But more importantly, it is looking to to stranded gas-based capacity, and the idea is to endeavor to deploy these capacities.
8One option that is being explored is only to contract future renewable power blended with balancing capacity so as to provide steady supply.
8As the cost of wind and solar-based power has come down, blending the same with even LNG based balancing supply could be supported under the existing financial support schemes of state electricity boards and state governments.
Click on Reports for more Details
8But more importantly, it is looking to to stranded gas-based capacity, and the idea is to endeavor to deploy these capacities.
8One option that is being explored is only to contract future renewable power blended with balancing capacity so as to provide steady supply.
8As the cost of wind and solar-based power has come down, blending the same with even LNG based balancing supply could be supported under the existing financial support schemes of state electricity boards and state governments.
Click on Reports for more Details
A purchase support policy along the lines now available for renewable energy will be extended to gas based power stations
8This will be provide a big boost to suppliers of gas to these stranded asssets
8A large gas-based power generation capacity lies stranded due to inability of the power sector to pass-on the variable cost of generating power from LNG.
8If these plants could become operational, it would raise the utilisation of gas pipelines and LNG terminals
8The idea is to boost the share of gas in India's energy mix.
8Gas will then assist renewable electricity, which is in the need of a balancing power supply.
8An inter-ministerial committee under the Prime Minister will be set up for this purpose
Click on Reports for more Details
8This will be provide a big boost to suppliers of gas to these stranded asssets
8A large gas-based power generation capacity lies stranded due to inability of the power sector to pass-on the variable cost of generating power from LNG.
8If these plants could become operational, it would raise the utilisation of gas pipelines and LNG terminals
8The idea is to boost the share of gas in India's energy mix.
8Gas will then assist renewable electricity, which is in the need of a balancing power supply.
8An inter-ministerial committee under the Prime Minister will be set up for this purpose
Click on Reports for more Details
Acquisition of technology by public sector E&P companies will be prioritized.
8This has currently not been possible because of the manner in which public sector contracting systems are organzied
8But a new policy framework will be quickly evolved which will allow for induction of latest technology, improvement in the skill set of industry personnel, adequate supply of technical manpower of related disciplines.
8Long term collaborative strategies are to be evolved
8The NOCs will be encouraged to evolve new forms of alliance to access these technologies
Click on Reports for more Details
8This has currently not been possible because of the manner in which public sector contracting systems are organzied
8But a new policy framework will be quickly evolved which will allow for induction of latest technology, improvement in the skill set of industry personnel, adequate supply of technical manpower of related disciplines.
8Long term collaborative strategies are to be evolved
8The NOCs will be encouraged to evolve new forms of alliance to access these technologies
Click on Reports for more Details
A policy framework will be put in place for rejuvenating mature oil fields in the hands of ONGC and OIL with the help of the private sector.
8This will ensure that full value is extracted from these fields
8A field level JV mechanism, or a hiving off of such assets into a separate entities will be explored
8A transparent policy framework will be put together.
8New forms of contractual arrangements on risk sharing basis will be considered to achieve the above objective.
Click on Reports for more Details
8This will ensure that full value is extracted from these fields
8A field level JV mechanism, or a hiving off of such assets into a separate entities will be explored
8A transparent policy framework will be put together.
8New forms of contractual arrangements on risk sharing basis will be considered to achieve the above objective.
Click on Reports for more Details
The government will soon come out with regulations for mandatory sharing of surplus infrastructure in the E&P sector.
8This will be along the lines of the of ‘common carrier’ downstream infrastructure.
8Upstream infrastructure is often a challenge for E&P companies especially for smaller finds and for discoveries in offshore and difficult terrains.
8The availability of such infrastructure will have to be also taken into account while creating more duplicate of overlapping infrastructure.
8Upstream infrastructure is also often a challenge for E&P companies especially for smaller finds and for discoveries in offshore and difficult terrains.
8The government claims that nearly 200 discoveries exist under the nomination and PSC regimes, which have not been put to production.
8The new mandate will be that these discoveries must be monetized or surrendered for re-cycling under OALP in the next 2-3 years.
8ONGC and OIL will be under immense pressure as a result to monetize them.
Click on Reports for more Details
8This will be along the lines of the of ‘common carrier’ downstream infrastructure.
8Upstream infrastructure is often a challenge for E&P companies especially for smaller finds and for discoveries in offshore and difficult terrains.
8The availability of such infrastructure will have to be also taken into account while creating more duplicate of overlapping infrastructure.
8Upstream infrastructure is also often a challenge for E&P companies especially for smaller finds and for discoveries in offshore and difficult terrains.
8The government claims that nearly 200 discoveries exist under the nomination and PSC regimes, which have not been put to production.
8The new mandate will be that these discoveries must be monetized or surrendered for re-cycling under OALP in the next 2-3 years.
8ONGC and OIL will be under immense pressure as a result to monetize them.
Click on Reports for more Details
The government will also evolve a system of migrating the existing hydrocarbons regime (both Nomination and PSCs) to the emerging framework of market-determined prices and
marketing freedom.
8However there is an acknowledgment that this cannot be done overnight and needs to be achieved in gradual phases.
8This is expected to remove the anomalous situation of multiple gas prices with the attendant legacy of gas allocation.
8Gas prices will have to travel at full cost down to the end customer.
8Releasing cash directly on lines of DBT can meet the government’s aim of subsidising farmers in the purchase of gas-based urea and to consumers of other subsidized gas product is the ultimate goal
Click on Reports for more Details
marketing freedom.
8However there is an acknowledgment that this cannot be done overnight and needs to be achieved in gradual phases.
8This is expected to remove the anomalous situation of multiple gas prices with the attendant legacy of gas allocation.
8Gas prices will have to travel at full cost down to the end customer.
8Releasing cash directly on lines of DBT can meet the government’s aim of subsidising farmers in the purchase of gas-based urea and to consumers of other subsidized gas product is the ultimate goal
Click on Reports for more Details
The government will also separate the upstream regulatory regime and contract administration
8This is needed for an arms-length administration of upstream matters.
8The regulatory regime will be distanced from the Government and placed in the PNGRB.
8For technically competent advice, a specialist wing may be created out of the existing DGH
8This wing will on the lines of Central Electricity Authority (CEA) and Telecommunication Engineering Centre (TEC) in the areas of electricity and telecom, respectively.
8The Prime Minister will supervise the transition.
Click on Reports for more Details
8This is needed for an arms-length administration of upstream matters.
8The regulatory regime will be distanced from the Government and placed in the PNGRB.
8For technically competent advice, a specialist wing may be created out of the existing DGH
8This wing will on the lines of Central Electricity Authority (CEA) and Telecommunication Engineering Centre (TEC) in the areas of electricity and telecom, respectively.
8The Prime Minister will supervise the transition.
Click on Reports for more Details
Regulations are in the process of being prepared under which the Prime Minister will supervise the streamlining of the existing provisions of NELP.
8The archaic decision making processes under NELP will be simplified and made quicker.
8This is likely to greatly benefit both ONGC and the RIL-BP combine which have lined up $ 11 billion of investments in the KG Basin.
8The existing NELP contracts provide for cost recovery for which an elaborate approval process exists which has been found to be unwieldy and irksome.
8Greater empowerment for quicker decision making, more transparency and standardized norms can alone provide the necessary expediency, is what the current government thinking is.
8Steps will be taken to provide for an efficient decision making apparatus.
Click on Reports for more Details
8The archaic decision making processes under NELP will be simplified and made quicker.
8This is likely to greatly benefit both ONGC and the RIL-BP combine which have lined up $ 11 billion of investments in the KG Basin.
8The existing NELP contracts provide for cost recovery for which an elaborate approval process exists which has been found to be unwieldy and irksome.
8Greater empowerment for quicker decision making, more transparency and standardized norms can alone provide the necessary expediency, is what the current government thinking is.
8Steps will be taken to provide for an efficient decision making apparatus.
Click on Reports for more Details
The government is preparing to fast track reforms in the petroleum sector under a new policy framework that will be monitored directly by none other than the Prime Minister of India
8It is proposed that the implementation of such a policy will be supervised not just by the petroleum minister but by the Prime Minister himself under an inter-ministerial committee.
8The policy will have two time horizons: 2017-2022 and 2022-2040
8Sweeping changes are envisaged in the petroleum sector under the new policy and these changes are likely to be put in place within a short timeframe, before the General Elections are announced, well placed sources. "We are in fact thinking of an even shorter time frame for such a roll out," well placed sources told this website.
8While HELP is being readied for the next round of oil field auctions, the plan to is go even further.
8The government wants to get private and public sector players to begin work on the 15 unexplored basins. Out of the 26 sedimentary basins, only 7 basins are producing as of now.
8In order to attract risk capital in exploration activity in the new basins, a more attractive E&P regime will be put in place.
8This will include the principle of ‘uplift’, which allows a multiple of the exploratory spend in cost recovery
8A basin-wise policy will be followed, with a differential fiscal exploratory regime for each keeping in mind the risk profile of the basin.
Click on Reports for more Details
8It is proposed that the implementation of such a policy will be supervised not just by the petroleum minister but by the Prime Minister himself under an inter-ministerial committee.
8The policy will have two time horizons: 2017-2022 and 2022-2040
8Sweeping changes are envisaged in the petroleum sector under the new policy and these changes are likely to be put in place within a short timeframe, before the General Elections are announced, well placed sources. "We are in fact thinking of an even shorter time frame for such a roll out," well placed sources told this website.
8While HELP is being readied for the next round of oil field auctions, the plan to is go even further.
8The government wants to get private and public sector players to begin work on the 15 unexplored basins. Out of the 26 sedimentary basins, only 7 basins are producing as of now.
8In order to attract risk capital in exploration activity in the new basins, a more attractive E&P regime will be put in place.
8This will include the principle of ‘uplift’, which allows a multiple of the exploratory spend in cost recovery
8A basin-wise policy will be followed, with a differential fiscal exploratory regime for each keeping in mind the risk profile of the basin.
Click on Reports for more Details
For reference purposes the website carries here the following tenders:
8Procurement of PE Pipes for CNG and City Gas Distribution Project Details
8Procurement and Processing of Satellite and Imageries and GIS Survey for Sonepat, Meerut, Dewas and Taj Trapezium Zone Details
8Hiring of Contract Services for Annual Rate Contract for Safety Valve Calibration/Testing for a contract period of two years Details
8Consultancy for optimisation of GPU and integrated pipeline operation for maximisation of recoveries of various components of Natural Gas Details
8Providing Protective coating for corrosion protection of Control valves Details
8Providing Marine Insurance Cover Policy for Iranian Crude Oil Imports Movement Details
8Transportation of Cryocans, CryoVessels and accessories Details
8Design, Engineering, Fabrication/ Manufacturing and Supply of Breech Lock Exchangers Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil prices drop as rising U.S. fuel stocks revive glut concerns Details
8India to launch new bidding mechanism for mega oil and gas auctions to be held next month Details
8The rise of the renewable energy is unstoppable: Aditya Gandhi, Director, Sapient Global Markets Details
8RIL refinances $2.3 billion loans to cut interest cost Details
8Oil Ministry aiming at awarding oil, gas blocks under HELP by December Details
8Hindustan Petroleum in dollar market to sell $500 million bonds Details
8Oil spill-hit coastline back to normality Details
8India switches to liberal regime for oil, gas exploration Details
8Indian Oil producers face new scrutiny from Modi Government as 2020 target nears Details
8Daily petrol price revision: Crude oil is not the only factor. What else impacts your fuel bill Details
8Vedanta makes $3 billion bet to re-energize its biggest oilfield Details
You can also click on Newsclips for more Details
8Procurement of PE Pipes for CNG and City Gas Distribution Project Details
8Procurement and Processing of Satellite and Imageries and GIS Survey for Sonepat, Meerut, Dewas and Taj Trapezium Zone Details
8Hiring of Contract Services for Annual Rate Contract for Safety Valve Calibration/Testing for a contract period of two years Details
8Consultancy for optimisation of GPU and integrated pipeline operation for maximisation of recoveries of various components of Natural Gas Details
8Providing Protective coating for corrosion protection of Control valves Details
8Providing Marine Insurance Cover Policy for Iranian Crude Oil Imports Movement Details
8Transportation of Cryocans, CryoVessels and accessories Details
8Design, Engineering, Fabrication/ Manufacturing and Supply of Breech Lock Exchangers Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil prices drop as rising U.S. fuel stocks revive glut concerns Details
8India to launch new bidding mechanism for mega oil and gas auctions to be held next month Details
8The rise of the renewable energy is unstoppable: Aditya Gandhi, Director, Sapient Global Markets Details
8RIL refinances $2.3 billion loans to cut interest cost Details
8Oil Ministry aiming at awarding oil, gas blocks under HELP by December Details
8Hindustan Petroleum in dollar market to sell $500 million bonds Details
8Oil spill-hit coastline back to normality Details
8India switches to liberal regime for oil, gas exploration Details
8Indian Oil producers face new scrutiny from Modi Government as 2020 target nears Details
8Daily petrol price revision: Crude oil is not the only factor. What else impacts your fuel bill Details
8Vedanta makes $3 billion bet to re-energize its biggest oilfield Details
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Given that India's official gas demand estimates are so completely off track, there is a genuine need to build institutional forecasting resources.
8An agency to do so is the PPAC but a perusal of its reports will show a near-complete lack of depth
8A comparison of the handful of monthly reports brought out by the PPAC with those published by the US Energy Information Agency (IEA) points to the pathetic state of affairs in India
8The Indian official mindset is not to disclose any information at all in "national interest" and arrest those who try to invade its hallowed ramparts to prise open the data which is otherwise easily made available by most countries in the world.
8Sections of the Official Secrets Act, or punitive provisions of the IPC are imposed on anyone brave enough to try.
8The attempt is to hide rather than disclose information. The government has recently stopped providing daily port-wise commodity import data in violation of WTO conditionalities. This data is a valuable price setting tool for Indian suppliers and buyers and its unavailability now will lead to price distortions.
8There is little or no understanding amongst the powers that be of how that lack of data and the consequent inability to run analytics on that data impedes economic development.
8Availability of a larger dataset would enable a better estimation of demand, for example, of gas, which in turn would help the creation of necessary infrastructure. On the other hand, the inability to read how demand is going to behave in the future means investors are putting in their money in LNG terminals on good faith rather than on hard data. This is risky by any yardstick.
8For those who are interested, the website carries here newly issued guidelines by the PPAC on the engagement of experts and professionals. These guidelines do not generate any comfort, however, for those who believe that the government will take steps to plug this credibility gap.
Click on Reports for more Details
8An agency to do so is the PPAC but a perusal of its reports will show a near-complete lack of depth
8A comparison of the handful of monthly reports brought out by the PPAC with those published by the US Energy Information Agency (IEA) points to the pathetic state of affairs in India
8The Indian official mindset is not to disclose any information at all in "national interest" and arrest those who try to invade its hallowed ramparts to prise open the data which is otherwise easily made available by most countries in the world.
8Sections of the Official Secrets Act, or punitive provisions of the IPC are imposed on anyone brave enough to try.
8The attempt is to hide rather than disclose information. The government has recently stopped providing daily port-wise commodity import data in violation of WTO conditionalities. This data is a valuable price setting tool for Indian suppliers and buyers and its unavailability now will lead to price distortions.
8There is little or no understanding amongst the powers that be of how that lack of data and the consequent inability to run analytics on that data impedes economic development.
8Availability of a larger dataset would enable a better estimation of demand, for example, of gas, which in turn would help the creation of necessary infrastructure. On the other hand, the inability to read how demand is going to behave in the future means investors are putting in their money in LNG terminals on good faith rather than on hard data. This is risky by any yardstick.
8For those who are interested, the website carries here newly issued guidelines by the PPAC on the engagement of experts and professionals. These guidelines do not generate any comfort, however, for those who believe that the government will take steps to plug this credibility gap.
Click on Reports for more Details
Now that oil prices have plunged back again, what would Saudi Arabia do?
8The kingdom wants to diversify its economy by investing in non-oil sectors.
8Unfortunately, the downturn in oil prices has left Saudi Arabia cash -strapped. In order to achieve its goals, Saudi Arabia needs its crown jewel, Saudi Aramco, to have a successful IPO.
8Aramco’s valuation is highly dependent on oil prices.
8Thus, it is reasonable to assume that the kingdom will do whatever it takes to support them. At present, Saudi Arabia is cutting around 600 thousand bpd.
8In the 1980s, the kingdom curtailed production by more than 6.7 million bpd.
8Although improbable, a further reduction in output is not out of the question.
8If that did occur then rebalancing would be pulled forward, sentiment would improve and prices could skyrocket.
8Ironically however, oil prices are always cyclical and what goes down must come up as seems to be evident from this statement made in 1928, which is reminiscent of what is happening today.
“The petroleum industry has not of late years earned a return on its investment sufficient to enable it to continue to carry in the future the burden and responsibilities placed upon it in the public’s interest, and it would seem impossible to do so unless present conditions are changed.”
– Anglo-Persian Oil Company (now BP) – 18 August
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8The kingdom wants to diversify its economy by investing in non-oil sectors.
8Unfortunately, the downturn in oil prices has left Saudi Arabia cash -strapped. In order to achieve its goals, Saudi Arabia needs its crown jewel, Saudi Aramco, to have a successful IPO.
8Aramco’s valuation is highly dependent on oil prices.
8Thus, it is reasonable to assume that the kingdom will do whatever it takes to support them. At present, Saudi Arabia is cutting around 600 thousand bpd.
8In the 1980s, the kingdom curtailed production by more than 6.7 million bpd.
8Although improbable, a further reduction in output is not out of the question.
8If that did occur then rebalancing would be pulled forward, sentiment would improve and prices could skyrocket.
8Ironically however, oil prices are always cyclical and what goes down must come up as seems to be evident from this statement made in 1928, which is reminiscent of what is happening today.
“The petroleum industry has not of late years earned a return on its investment sufficient to enable it to continue to carry in the future the burden and responsibilities placed upon it in the public’s interest, and it would seem impossible to do so unless present conditions are changed.”
– Anglo-Persian Oil Company (now BP) – 18 August
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Given India's complex maze of regulations, prices and contrasting supply and demand dynamics, it is near-impossible to discern how gas demand is going to behave going ahead.
8Current official and multilateral estimates of demand show wide variations.
8The PNGRB for example had projected a widely optimistic gas demand scenario, which is way above what the ground situation is. Other official estimates -- such as the 12th Plan Report -- are also way off the mark.
8The very fact that there is no attempt by the government to make realistic estimates of gas demand or even supply is indicative of an institutional lack of depth.
In this context, the website carries here a new assessment of gas demand taking into considerations a range of factors, including:
8International benchmark prices and Indian gas prices and imports (1997-2016)
8Sector-wise and company-wise gas production in India (2006-2016)
8Production, consumption and LNG imports (2005-2016)
8Sector-wise consumption of gas (last six months)
8Demand supply projections on gas made by various agencies so far
8Production, imports and projected demand for fertilizers
8Fertilizer subsidy and retail prices: falling subsidies on imported urea
8Gas based power capacity & gas supply to power sector
8Competitiveness of gas with coal in power generation: Average power tariff in India in relation to the tariffs for coal based power in relation to the delivered cost of power produced from gas -- divided in to fixed and variable costs -- under different gas price scenarios
8Competitiveness of CNG and PNG under different gas prices in relation to diesel and subsided and nonsubsided LPG, with and without tax components
8Forecast and actual consumption of gas in the CGD sector: there are wide variations
8Industry-wise gas consumption over the last five years: will the Make in India programme make a sizeable difference to gas demand in India
8Changes in gas consumption sector-wise to changes in LNG prices
8Renewable sector demand and supply under different realistic scenarios
8Weighted average specific emissions from power plants as against new emission norms set by the government
8Coal required under different renewable targets
8Outlook for gas in the context of India's commitment to Paris targets
8Assumed projections for demand for gas in the fertilizer sector: three scenarios
8Assumed projection for gas demand by Indian industry: Gad demand in relation to manufacturing GDP
8Overall projections for gas demand from city gas, fertilizers and the industrial sectors
8Assumptions on achievements of renewable energy targets and is there a potential for gas to bridge the gap?
8The projected demand for gas under different delivered gas prices in relation to a scalable tax on carbon emission
8The relative influence of different demand drivers in India
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8Current official and multilateral estimates of demand show wide variations.
8The PNGRB for example had projected a widely optimistic gas demand scenario, which is way above what the ground situation is. Other official estimates -- such as the 12th Plan Report -- are also way off the mark.
8The very fact that there is no attempt by the government to make realistic estimates of gas demand or even supply is indicative of an institutional lack of depth.
In this context, the website carries here a new assessment of gas demand taking into considerations a range of factors, including:
8International benchmark prices and Indian gas prices and imports (1997-2016)
8Sector-wise and company-wise gas production in India (2006-2016)
8Production, consumption and LNG imports (2005-2016)
8Sector-wise consumption of gas (last six months)
8Demand supply projections on gas made by various agencies so far
8Production, imports and projected demand for fertilizers
8Fertilizer subsidy and retail prices: falling subsidies on imported urea
8Gas based power capacity & gas supply to power sector
8Competitiveness of gas with coal in power generation: Average power tariff in India in relation to the tariffs for coal based power in relation to the delivered cost of power produced from gas -- divided in to fixed and variable costs -- under different gas price scenarios
8Competitiveness of CNG and PNG under different gas prices in relation to diesel and subsided and nonsubsided LPG, with and without tax components
8Forecast and actual consumption of gas in the CGD sector: there are wide variations
8Industry-wise gas consumption over the last five years: will the Make in India programme make a sizeable difference to gas demand in India
8Changes in gas consumption sector-wise to changes in LNG prices
8Renewable sector demand and supply under different realistic scenarios
8Weighted average specific emissions from power plants as against new emission norms set by the government
8Coal required under different renewable targets
8Outlook for gas in the context of India's commitment to Paris targets
8Assumed projections for demand for gas in the fertilizer sector: three scenarios
8Assumed projection for gas demand by Indian industry: Gad demand in relation to manufacturing GDP
8Overall projections for gas demand from city gas, fertilizers and the industrial sectors
8Assumptions on achievements of renewable energy targets and is there a potential for gas to bridge the gap?
8The projected demand for gas under different delivered gas prices in relation to a scalable tax on carbon emission
8The relative influence of different demand drivers in India
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The composition of Indian gas demand has been changing.
8In 2014, one set of consumers accounted for close to 90 per cent of domestic gas consumed, and just over 50 per cent of LNG imports consumed
8But the LNG import ‘upsurge’ in recent months has in contrast been driven predominantly by another set of consumers.
8The industrial sectors (petrochemicals, refineries, LPG shrinkage, iron and steel, and other industry) accounted for 45 per cent of LNG consumed between December 2015 and February 2017.
8The website answers here the critical question of whether this trend is a discernable one
8Will there be a further uptick from here or will it merely fade away?
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8In 2014, one set of consumers accounted for close to 90 per cent of domestic gas consumed, and just over 50 per cent of LNG imports consumed
8But the LNG import ‘upsurge’ in recent months has in contrast been driven predominantly by another set of consumers.
8The industrial sectors (petrochemicals, refineries, LPG shrinkage, iron and steel, and other industry) accounted for 45 per cent of LNG consumed between December 2015 and February 2017.
8The website answers here the critical question of whether this trend is a discernable one
8Will there be a further uptick from here or will it merely fade away?
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GAIL seems to have missed the bus when it comes to contracting for LNG vessels to ship its US LNG commitments to India at reasonable charter hire rates.
8The website carries here a projection of how future LNG vessel demand exceeds the current order book
8The website also carries here a vessel-wise delivery schedule against vessel requirement
8Average sailing distances are now growing rapidly
8Detailed vessel utilization and shipping rates are carried here.
8Spot fixtures over the last few months are carried here in relation to the same period over the last three years, and they show a rising trend.
8There are now indications that vessel rates are going to tighten and this will raise the delivery cost of GAIL's LNG
8This website also has its own daily LNG vessel charter hire rate data collected from global sources and contacts
Click on Reports and on our Price section for more Details
8The website carries here a projection of how future LNG vessel demand exceeds the current order book
8The website also carries here a vessel-wise delivery schedule against vessel requirement
8Average sailing distances are now growing rapidly
8Detailed vessel utilization and shipping rates are carried here.
8Spot fixtures over the last few months are carried here in relation to the same period over the last three years, and they show a rising trend.
8There are now indications that vessel rates are going to tighten and this will raise the delivery cost of GAIL's LNG
8This website also has its own daily LNG vessel charter hire rate data collected from global sources and contacts
Click on Reports and on our Price section for more Details
Despite the massive additions to LNG supply between 2017 - 2020, there are now signs of more projects coming on stream beyond 2020.
8The website carries here an assessment of fresh long term supplies coming in beyond 2020.
8Clearly therefore, supplies will be built well beyond the next three years
8This could mean LNG prices are likely to stay down for longer than what was earlier projected.
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8The website carries here an assessment of fresh long term supplies coming in beyond 2020.
8Clearly therefore, supplies will be built well beyond the next three years
8This could mean LNG prices are likely to stay down for longer than what was earlier projected.
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The latest reassessment shows that a total of over 110 MMTPA of new supply will be coming online between 2017 - 2020.
8For reference purposes, the website carries here an estimate of new LNG supply by project start date spread over the next three years
8Projects are expected to use both new built and existing vessels to utilize the extra capacity coming on stream
8So far, increased demand seems to be absorbing supplies. There has been demand de-growth in some countries but made up by growth elsewhere.
8There are new supply flows being created now by buyers of US LNG
8US volumes are expanding both vessel tonne miles and tonne time.
8Cheniere reported over 100 cargoes shipped to 20 countries (Q1 2017 results).
8Sabine Pass trains have been running consistently, save for maintenance outages
8Applying the 1.77x multiplier to yet-to-deliver US FID exports (50+mtpa) would require around additional 90 LNG ships
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8For reference purposes, the website carries here an estimate of new LNG supply by project start date spread over the next three years
8Projects are expected to use both new built and existing vessels to utilize the extra capacity coming on stream
8So far, increased demand seems to be absorbing supplies. There has been demand de-growth in some countries but made up by growth elsewhere.
8There are new supply flows being created now by buyers of US LNG
8US volumes are expanding both vessel tonne miles and tonne time.
8Cheniere reported over 100 cargoes shipped to 20 countries (Q1 2017 results).
8Sabine Pass trains have been running consistently, save for maintenance outages
8Applying the 1.77x multiplier to yet-to-deliver US FID exports (50+mtpa) would require around additional 90 LNG ships
Click on Reports for more Details
Given that India's primary demand drivers for a rise in gas consumption are weak, the gas supply lobby will always try and push for a tax on coal to make the use of gas viable in the power sector.
8But is that a viable proposition?
8At a gas price of US$5.50/mmbtu (which is in the ballpark of the US$5.56 ‘ceiling’ price for deep water gas in India), the tax per tonne of coal production would have to be roughly four and a half times its current amount (namely around US$27/tonne as opposed to US$6/tonne).
8This would be equivalent to a roughly 30 per cent increase in tariffs for coal-fired power, which would in present circumstances be politically difficult, if not impossible, to pass through to consumers.
8Therefore, the long-term substantial role for gas in India's power sector does seem viable as of now.
Click on Reports for all the calculations. Details
8But is that a viable proposition?
8At a gas price of US$5.50/mmbtu (which is in the ballpark of the US$5.56 ‘ceiling’ price for deep water gas in India), the tax per tonne of coal production would have to be roughly four and a half times its current amount (namely around US$27/tonne as opposed to US$6/tonne).
8This would be equivalent to a roughly 30 per cent increase in tariffs for coal-fired power, which would in present circumstances be politically difficult, if not impossible, to pass through to consumers.
8Therefore, the long-term substantial role for gas in India's power sector does seem viable as of now.
Click on Reports for all the calculations. Details
For reference purposes, the website carries here a fresh set of independent projections of gas demand in India going up to the year 2024.
8What has been noticed in India so far is that there is an inverse relationship between LNG import prices and gas consumption.
8An important finding is that if LNG imports continue to be primarily based on oil-linked contracts, low gas prices would presumably lag low oil prices – and given that oil products are key competitors to gas in several industry sectors such as petrochemicals and refineries -- this will limit the potential for gas to grow across the Indian economy, even at low LNG import prices.
8But some adjustments are now happening. The recent equalization (to nearly 50:50) in the proportions of short-term/spot to long-term contracted LNG imported into India from around 20:80 prior to 2014, indicates a preference for flexibility in supply terms among Indian LNG buyers, as does the domestic gas pricing reform which includes three hub-based price benchmarks in its formula.
8This implies that structural changes on the supply side of the global LNG market, such as the rise of LNG portfolio players who organise their sales strategies around contract length mix and price formation to better suit their buyers, will also play a key role in direct relation to global gas prices as a determinant of future gas demand in India.
Click on Reports for more. Details
8What has been noticed in India so far is that there is an inverse relationship between LNG import prices and gas consumption.
8An important finding is that if LNG imports continue to be primarily based on oil-linked contracts, low gas prices would presumably lag low oil prices – and given that oil products are key competitors to gas in several industry sectors such as petrochemicals and refineries -- this will limit the potential for gas to grow across the Indian economy, even at low LNG import prices.
8But some adjustments are now happening. The recent equalization (to nearly 50:50) in the proportions of short-term/spot to long-term contracted LNG imported into India from around 20:80 prior to 2014, indicates a preference for flexibility in supply terms among Indian LNG buyers, as does the domestic gas pricing reform which includes three hub-based price benchmarks in its formula.
8This implies that structural changes on the supply side of the global LNG market, such as the rise of LNG portfolio players who organise their sales strategies around contract length mix and price formation to better suit their buyers, will also play a key role in direct relation to global gas prices as a determinant of future gas demand in India.
Click on Reports for more. Details
For reference purposes the website carries here the following tenders:
8Rate Contract for Methyl Di Ethanol Amine (MDEA) Details
8Hiring of agency for providing various support services at Onshore Gas Terminal in East Godavari District Details
8Annual Rate Contract for attending leaks in underground GRP pipeline from Desalination Plant at Kattupalli to CPCL-Manali Details
8Annual Rate Contract for maintenance of all Mainline facilities Details
8Supply of Coke Conveyor System Spares Details
8Supply of Insulating Joint for Gas Company Details
8Supply of OD GI Pipe for Gas Company Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Dutch PM lauds India's commitment to renewable energy, Paris Climate Agreement Details
8ONGC gets green nod for exploratory drilling in KG basin Details
8These two policies will help achieve PM Modi’s target to reduce oil imports by 10 percent Details
8Brazil's Petrobras halts production after leak in Campos basin Details
8Thirteen EU nations back plan for talks with Russia over gas pipeline Details
8Russia's Rosneft targets bigger gas output, lower costs Details
8Lithuania signs first deal to buy US natural gas Details
8PM Modi, Trump pledge to increase bilateral economic cooperation Details
8Indian renewable energy market to witness strong growth: Moody's Details
8Natural gas may be included in GST, to benefit ONGC Details
8OPINION: Trump-Modi meeting: So far so good Details
8Government to set up 'war room' at Finance Ministry to deal with GST issues Details
8Solar power helps pump up petrol sales amid power shortage Details
8NITI Aayog proposes break up of Coal India into seven companies Details
You can also click on Newsclips for more Details
8Rate Contract for Methyl Di Ethanol Amine (MDEA) Details
8Hiring of agency for providing various support services at Onshore Gas Terminal in East Godavari District Details
8Annual Rate Contract for attending leaks in underground GRP pipeline from Desalination Plant at Kattupalli to CPCL-Manali Details
8Annual Rate Contract for maintenance of all Mainline facilities Details
8Supply of Coke Conveyor System Spares Details
8Supply of Insulating Joint for Gas Company Details
8Supply of OD GI Pipe for Gas Company Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Dutch PM lauds India's commitment to renewable energy, Paris Climate Agreement Details
8ONGC gets green nod for exploratory drilling in KG basin Details
8These two policies will help achieve PM Modi’s target to reduce oil imports by 10 percent Details
8Brazil's Petrobras halts production after leak in Campos basin Details
8Thirteen EU nations back plan for talks with Russia over gas pipeline Details
8Russia's Rosneft targets bigger gas output, lower costs Details
8Lithuania signs first deal to buy US natural gas Details
8PM Modi, Trump pledge to increase bilateral economic cooperation Details
8Indian renewable energy market to witness strong growth: Moody's Details
8Natural gas may be included in GST, to benefit ONGC Details
8OPINION: Trump-Modi meeting: So far so good Details
8Government to set up 'war room' at Finance Ministry to deal with GST issues Details
8Solar power helps pump up petrol sales amid power shortage Details
8NITI Aayog proposes break up of Coal India into seven companies Details
You can also click on Newsclips for more Details
For reference purposes the website carries here the following tenders:
8Supply of Natural Gas/ RLNG for Non-Urea Activity Details
8Supply of Dimethyl Disulphide DMDS Details
8IRIS Inspection of Heat Exchanger Tubes of PTA Unit Details
8Carrying out Market Study for Petrochemicals as per tender specification Details
8Hot Insulation Jobs of Columns in CDU I Block and GOHDS Unit Details
8Repair and Replacement of Crude Oil Storage Tank Internals and External by hot work jobs in OM & S Details
8EOI for Production Enhancement Contract in Mature Oil and Gas fields Details
8Biennial Rate contract for Lumpsum services for Corrosion treatment program in refinery Details
8Providing Services for Corrosion Coupon Retrieval and Reinstallation Services and Supply of Standard Corrosion for PLQP Details
8MDPE Laying Network for PNG Domestic Connection in Unnao for City Gas Project Details
8Supply of Carbon Steel Seamless Pipe for Gas Company Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Has the oil market reached "peak bear"? Details
8Vedanta's dream has just begun; to invest $6-7 billion: Anil Aggarwal Details
8Financial year likely to be changed from 2018; Budget in November? Details
8Record low credit growth: 1,000 companies borrowed Rs 1 trillion less in FY17 Details
8Dynamic fuel pricing: A week on, petrol, diesel prices dip in daily revision Details
8OPINION: Farm loan waivers disrupt the fiscal discipline Details
8HPCL joins talks to buy stake in Russian oil fields Details
8ONGC turns to GSPC's undersea infrastructure for KG-basin gas output Details
8Poland eyes more U.S. LNG supplies following Trump's visit- minister Details
8GST could be studied in US Business schools: PM Narendra Modi Details
8PM Narendra Modi invites US CEOs to invest in India, says GST will be a game changer Details
8From July 1, oil companies to carve out their own exploration areas Details
8HPCL keen to pick up stake in Russian oil fields Details
8Oil little changed after three-day gain, supply glut weighs Details
8Hindustan Petroleum Corporation Limited (HPCL) joins talks to buy stake in Russian oil fields Details
8Oil closes higher; growing U.S. supply limits gains Details
You can also click on Newsclips for more Details
8Supply of Natural Gas/ RLNG for Non-Urea Activity Details
8Supply of Dimethyl Disulphide DMDS Details
8IRIS Inspection of Heat Exchanger Tubes of PTA Unit Details
8Carrying out Market Study for Petrochemicals as per tender specification Details
8Hot Insulation Jobs of Columns in CDU I Block and GOHDS Unit Details
8Repair and Replacement of Crude Oil Storage Tank Internals and External by hot work jobs in OM & S Details
8EOI for Production Enhancement Contract in Mature Oil and Gas fields Details
8Biennial Rate contract for Lumpsum services for Corrosion treatment program in refinery Details
8Providing Services for Corrosion Coupon Retrieval and Reinstallation Services and Supply of Standard Corrosion for PLQP Details
8MDPE Laying Network for PNG Domestic Connection in Unnao for City Gas Project Details
8Supply of Carbon Steel Seamless Pipe for Gas Company Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Has the oil market reached "peak bear"? Details
8Vedanta's dream has just begun; to invest $6-7 billion: Anil Aggarwal Details
8Financial year likely to be changed from 2018; Budget in November? Details
8Record low credit growth: 1,000 companies borrowed Rs 1 trillion less in FY17 Details
8Dynamic fuel pricing: A week on, petrol, diesel prices dip in daily revision Details
8OPINION: Farm loan waivers disrupt the fiscal discipline Details
8HPCL joins talks to buy stake in Russian oil fields Details
8ONGC turns to GSPC's undersea infrastructure for KG-basin gas output Details
8Poland eyes more U.S. LNG supplies following Trump's visit- minister Details
8GST could be studied in US Business schools: PM Narendra Modi Details
8PM Narendra Modi invites US CEOs to invest in India, says GST will be a game changer Details
8From July 1, oil companies to carve out their own exploration areas Details
8HPCL keen to pick up stake in Russian oil fields Details
8Oil little changed after three-day gain, supply glut weighs Details
8Hindustan Petroleum Corporation Limited (HPCL) joins talks to buy stake in Russian oil fields Details
8Oil closes higher; growing U.S. supply limits gains Details
You can also click on Newsclips for more Details
Also projected here are revenues for subsea product companies going up to 2021
8Revenues are still in free fall, pushing companies further into a cash crunch
8There is also an annual projection of numbers of trees which have actually gone upstream so far since 2012 and how does the projection look going up to 2021.
8The projections show that the bottom may not have been reached in 2018
8These projections are crucial to understand how the subsea market is going to behave and when is a good time to place orders.
8Both ONGC and RIL-BP have announced their first gas deadlines from their investments, so orders will have to be placed sooner than later.
8The two parties will have different price determination policies even though both are circumscribed by PSC bidding conditionalities -- which require at least three bidders for each tender -- unless special sanction is sought from the management committee for placing orders on different basis.
8So if ONGC has gone through a competitive bidding process, RIL-BP cannot claim an exception to the rule.
8Eventually, when pricing matrices are compared, it will be interesting to watch who evinces the best price.
8As of now, because equipment and services costs are falling rapidly, the advantage goes to RIL-BP as they can force suppliers to quote lower in a falling market than the benchmarks which will be set earlier by ONGC.
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8Revenues are still in free fall, pushing companies further into a cash crunch
8There is also an annual projection of numbers of trees which have actually gone upstream so far since 2012 and how does the projection look going up to 2021.
8The projections show that the bottom may not have been reached in 2018
8These projections are crucial to understand how the subsea market is going to behave and when is a good time to place orders.
8Both ONGC and RIL-BP have announced their first gas deadlines from their investments, so orders will have to be placed sooner than later.
8The two parties will have different price determination policies even though both are circumscribed by PSC bidding conditionalities -- which require at least three bidders for each tender -- unless special sanction is sought from the management committee for placing orders on different basis.
8So if ONGC has gone through a competitive bidding process, RIL-BP cannot claim an exception to the rule.
8Eventually, when pricing matrices are compared, it will be interesting to watch who evinces the best price.
8As of now, because equipment and services costs are falling rapidly, the advantage goes to RIL-BP as they can force suppliers to quote lower in a falling market than the benchmarks which will be set earlier by ONGC.
Click on Reports for more Details
With around $11 billion dollars in offshore drilling investments lined up in the KG Basin, both ONGC and RIL-BP will have to be keep watch on how the global subsea market is going to evolve.
8Are prices of subsea assemblies going to bottom out in 2017 as it popularly anticipated or will the tend roll over to 2018? Or will prices continue to fall up to 2019?
8The website carries here a forecast of the global subsea hardware capex right up to 2021.
8Also projected is the subsea orders backlog as of 2017.
8By all indications, the revival of the market is to take longer than usual.
8That means that prices may continue to fall beyond 2017
The subsea market consists of:
-- Subsea trees
-- Templates
-- Manifolds
-- Subsea boosters
-- Subsea compressors
-- Subsea separation
-- Umblicals
Click on Reports for more Details
8Are prices of subsea assemblies going to bottom out in 2017 as it popularly anticipated or will the tend roll over to 2018? Or will prices continue to fall up to 2019?
8The website carries here a forecast of the global subsea hardware capex right up to 2021.
8Also projected is the subsea orders backlog as of 2017.
8By all indications, the revival of the market is to take longer than usual.
8That means that prices may continue to fall beyond 2017
The subsea market consists of:
-- Subsea trees
-- Templates
-- Manifolds
-- Subsea boosters
-- Subsea compressors
-- Subsea separation
-- Umblicals
Click on Reports for more Details
Winning the global narrative in the midst of bewildering change is the key component in the fight for supremacy in the global energy market.
82016 saw an avalanche of data from the big oil companies and research institutes, including some well known universities around the world -- mostly sponsored by Big Oil -- claiming that the golden age of gas has arrived with the impending demise of coal.
8But in 2017 the narrative has somewhat changed.
8Gas is now being sought to be dumped with coal as a polluting fuel and this counter narrative is gaining ground.
8Clearly different lobbies are at work, so it is difficult to guess the authenticity of all the assessments and counter assessments that are floating around.
8For the Indian industry, both from the supplier and buyer end, it is necessary to keep the ear firmly to the ground, and pick up early trends.
8Big investments are being made or planned to be made in creating infrastructure that is meant to last for 30 years. It is important to ensure that they do not become redundant well before that.
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82016 saw an avalanche of data from the big oil companies and research institutes, including some well known universities around the world -- mostly sponsored by Big Oil -- claiming that the golden age of gas has arrived with the impending demise of coal.
8But in 2017 the narrative has somewhat changed.
8Gas is now being sought to be dumped with coal as a polluting fuel and this counter narrative is gaining ground.
8Clearly different lobbies are at work, so it is difficult to guess the authenticity of all the assessments and counter assessments that are floating around.
8For the Indian industry, both from the supplier and buyer end, it is necessary to keep the ear firmly to the ground, and pick up early trends.
8Big investments are being made or planned to be made in creating infrastructure that is meant to last for 30 years. It is important to ensure that they do not become redundant well before that.
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Why is there optimism in the subsea and offshore equipment manufacturers about an eventual revival of the market?
8What are the factors that will cause both demand and prices to recover?
8Find out more on the basis on which optimistic projections are made for the future.
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8What are the factors that will cause both demand and prices to recover?
8Find out more on the basis on which optimistic projections are made for the future.
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For reference purposes, the website also carries here projections of the offshore ROV market going up to the year 2021.
8ROV day rates were at their peak in 2014, at around $ 10,000, but fell sharply ever since
8Fleet utilization levels have also plunged.
8There is now a projection that price levels are going to remain flat or depressed going ahead for some time to come.
8Quarter wise floating rig demand is also captured here along with the requirement of ROVs.
8The ROV utilization mix, between drilling support and ROV utilization is also tabulated.
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8ROV day rates were at their peak in 2014, at around $ 10,000, but fell sharply ever since
8Fleet utilization levels have also plunged.
8There is now a projection that price levels are going to remain flat or depressed going ahead for some time to come.
8Quarter wise floating rig demand is also captured here along with the requirement of ROVs.
8The ROV utilization mix, between drilling support and ROV utilization is also tabulated.
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As part of our series of articles on how the world is now moving beyond gas, the website carries here an analysis that says that even if gas plays a role in balancing weather-dependent renewables in the short-term, there are numerous alternatives to the role of natural gas in increasing the flexibility of the power grid, such as storage, grid development, demand management or flexible renewables.
8The argument is that a mix of these solutions will make it possible to deal with a fully renewable power grid without relying on natural gas.
8To achieve this purpose, a significant shift in investment away from new natural gas infrastructure and towards renewable source of energy is now being freshly argued.
8Massive investments in gas extraction, new pipelines and LNG ports—in addition to what is already existing and often underutilised—will divert financial resources from investments into a decarbonised power sector, and lead to the creation of stranded assets in the coming decades, constituting a major obstacle for the full decarbonisation of the electricity sector, the argument goes.
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8The argument is that a mix of these solutions will make it possible to deal with a fully renewable power grid without relying on natural gas.
8To achieve this purpose, a significant shift in investment away from new natural gas infrastructure and towards renewable source of energy is now being freshly argued.
8Massive investments in gas extraction, new pipelines and LNG ports—in addition to what is already existing and often underutilised—will divert financial resources from investments into a decarbonised power sector, and lead to the creation of stranded assets in the coming decades, constituting a major obstacle for the full decarbonisation of the electricity sector, the argument goes.
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The Shipping Corporation of India has not added any ship in the last one year primarily due to weak shipping markets. Many vessels are currently placed in the spot market and are competing with other shipping companies for the same business. These vessels are working at less than 50% utilization. Long term contracts are limited under the current environment.
8But a shrinking global shipping order book, bottoming asset prices, lower crude prices (lower bunker) and stable shipping freight rates bode well for shipping companies including the SCI
8The current focus seems to be on a strategic sale by the government of the company.
8Under a new ownership, the company is likely to fare much better
Click on Reports for a full analysis of the company's future prospects Details
8But a shrinking global shipping order book, bottoming asset prices, lower crude prices (lower bunker) and stable shipping freight rates bode well for shipping companies including the SCI
8The current focus seems to be on a strategic sale by the government of the company.
8Under a new ownership, the company is likely to fare much better
Click on Reports for a full analysis of the company's future prospects Details
April-May, 2017 petroleum consumption data shows a diversion in growth between the transpiration and industrial segments of the economy.
8MS,HSD and ATF recorded growths of 10% and 5.4% and 10% respectively.
8In comparison, the growth rates of industrial fuels -- such as naphtha, LDO, FO/LSHS and even Bitumen, were low or negative.
8However, petroleum coke, a cheap dirty fuel, continued to show robust growth, indicating that the appetite for cheap but environmentally degrading fuels is still intact among India's furnaces. Imports of petcoke rose by 20% in April-May, 2017
8On the production side however, naphtha and petcoke output was significantly higher by Indian refineries, whereas there was a degrowth in LDP, FO, Bitumen and LSHS output in April-May, 2017. Both naphtha and fuel oil exports were high in the face of falling domestic consumption.
8The point to note is that the deviation between two consumption rates -- industrial and transportation -- has widened in May over April, 2017.
8Even the government attributes the deviation to the twin effects of demonetization and slowing industrial growth
8Then again, has the slack in demand in industrial fuels seen a rise in gas consumption through a substitution effect.
8The answer here is a "no" as well.
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8MS,HSD and ATF recorded growths of 10% and 5.4% and 10% respectively.
8In comparison, the growth rates of industrial fuels -- such as naphtha, LDO, FO/LSHS and even Bitumen, were low or negative.
8However, petroleum coke, a cheap dirty fuel, continued to show robust growth, indicating that the appetite for cheap but environmentally degrading fuels is still intact among India's furnaces. Imports of petcoke rose by 20% in April-May, 2017
8On the production side however, naphtha and petcoke output was significantly higher by Indian refineries, whereas there was a degrowth in LDP, FO, Bitumen and LSHS output in April-May, 2017. Both naphtha and fuel oil exports were high in the face of falling domestic consumption.
8The point to note is that the deviation between two consumption rates -- industrial and transportation -- has widened in May over April, 2017.
8Even the government attributes the deviation to the twin effects of demonetization and slowing industrial growth
8Then again, has the slack in demand in industrial fuels seen a rise in gas consumption through a substitution effect.
8The answer here is a "no" as well.
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There was a big response to ONGC's Start-Up Fund imitative.
8A total of 2900 applications were received.
8Eventually only 32 applications were invited to pitch.
8The proposals were in the areas of Exploration & Production of Oil & Gas, Artificial Intelligence, Data Analytics, Under Water Robotics, Solar Energy, Waste to Energy, etc. which were presented during the pitching session.
8It is envisaged that the successful start-ups will be incubated at IIT Bombay from July 2017.
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8A total of 2900 applications were received.
8Eventually only 32 applications were invited to pitch.
8The proposals were in the areas of Exploration & Production of Oil & Gas, Artificial Intelligence, Data Analytics, Under Water Robotics, Solar Energy, Waste to Energy, etc. which were presented during the pitching session.
8It is envisaged that the successful start-ups will be incubated at IIT Bombay from July 2017.
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Find out more on how the OPEC initiative on a supply cut has fizzed out and oil prices have begun to crumble
8There was some talk about even deeper output cuts but they have now been scotched.
8The OPEC deal has now become potentially more complicated by political and diplomatic changes.
8Two key brokers -- Algeria and Qatar -- who helped members such as Saudi Arabia and Iran overcome their differences to bring about the deal are now out of the picture. Algeria’s oil minister was dismissed as part of a cabinet reshuffle while Qatar is under a regional blockade imposed by Saudi Arabia as a punishment for its ties to Iran.
8OPEC and its allies are now left with little maneuvering capacity to boost prices.
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8There was some talk about even deeper output cuts but they have now been scotched.
8The OPEC deal has now become potentially more complicated by political and diplomatic changes.
8Two key brokers -- Algeria and Qatar -- who helped members such as Saudi Arabia and Iran overcome their differences to bring about the deal are now out of the picture. Algeria’s oil minister was dismissed as part of a cabinet reshuffle while Qatar is under a regional blockade imposed by Saudi Arabia as a punishment for its ties to Iran.
8OPEC and its allies are now left with little maneuvering capacity to boost prices.
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For reference purposes the website carries here the following tenders:
8Survey of Haldia Refinery and Pipeline Crude Oil tanks, and Crude Oil tankers on unloading at Haldia Oil Jetty Details
8Procurement of Forgings for 26 Refinery Vessels Project Details
8Global Expression of Interest for its Exploratory & Appraisal Well Drilling Campaign in the block- KG-ONN-2004/1 Details
8Carry out Pipeline RoW exposure Repair work for a period of 18 months Details
8Carrying out Pipeline repair work during hydrostatic testing of HB loop line Details
8Expert services for replacement of dry gas seals of refinery Details
8Supply of Electronic Pressure/ DP Transmitter, Temperature Transmitters for DHDS Unit for BS-IV Project Details
8Supply of Flow Meter for Skid Mounted Refuellers Details
8Supply of Overwing Nozzles for Skid Mounted Refuellers Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8US lawmakers urge Trump to press PM Modi on trade, investment Details
8Big Oil turns to big data to save big money on drilling Details
8Can Opec pull crude oil market out of the rut? Investors are not so sure Details
8Future of natural gas limited, to be phased out, say global institutes Details
8Russia's Novatek aims to topple Qatar from LNG top exporter spot Details
8Russian oil group Rosneft to continue dispute with Sistema in court Details
8Cairn created maze of subsidiaries, taxed Rs 10,247 crore Details
8Reliance Industries' new capex plan to delay deleveraging, says S&P Details
8A week on, petrol/diesel prices dip in daily revision Details
8Reliance Industries rated ‘Add’ over plans with BP by Kotak Details
8Market hampered by tepid Asian oil demands Details
8Lenders approve Rs 86,000 crore Essar Oil sale to Russia's Rosneft Details
You can also click on Newsclips for more Details
8Survey of Haldia Refinery and Pipeline Crude Oil tanks, and Crude Oil tankers on unloading at Haldia Oil Jetty Details
8Procurement of Forgings for 26 Refinery Vessels Project Details
8Global Expression of Interest for its Exploratory & Appraisal Well Drilling Campaign in the block- KG-ONN-2004/1 Details
8Carry out Pipeline RoW exposure Repair work for a period of 18 months Details
8Carrying out Pipeline repair work during hydrostatic testing of HB loop line Details
8Expert services for replacement of dry gas seals of refinery Details
8Supply of Electronic Pressure/ DP Transmitter, Temperature Transmitters for DHDS Unit for BS-IV Project Details
8Supply of Flow Meter for Skid Mounted Refuellers Details
8Supply of Overwing Nozzles for Skid Mounted Refuellers Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8US lawmakers urge Trump to press PM Modi on trade, investment Details
8Big Oil turns to big data to save big money on drilling Details
8Can Opec pull crude oil market out of the rut? Investors are not so sure Details
8Future of natural gas limited, to be phased out, say global institutes Details
8Russia's Novatek aims to topple Qatar from LNG top exporter spot Details
8Russian oil group Rosneft to continue dispute with Sistema in court Details
8Cairn created maze of subsidiaries, taxed Rs 10,247 crore Details
8Reliance Industries' new capex plan to delay deleveraging, says S&P Details
8A week on, petrol/diesel prices dip in daily revision Details
8Reliance Industries rated ‘Add’ over plans with BP by Kotak Details
8Market hampered by tepid Asian oil demands Details
8Lenders approve Rs 86,000 crore Essar Oil sale to Russia's Rosneft Details
You can also click on Newsclips for more Details
Grave doubts are being expressed by those in the industry about whether the Sagar Samrat will ever be able to leave the beleaguered UAE shipyard where it is being modified.
8It is learnt that the owners of the shipyard, Gulf Piping Company, is in such serious trouble that is is unable to pay wages.
8Strikes are unknown in the UAE but in this shipyard, workers have downed their tools several times as the management has not been able to cough up the money. The downturn in the ship construction industry has forced Gulf Piping Company into near bankruptcy. It is learnt that the UAE government has taken over some parts of the shipyard.
8ONGC is now desperately trying to egg the beleaguered shipyard to release the vessel but that seems to be turning out to be a difficult job because unless the work is completed, it cannot sail out..
8Members of the consortium of contractors do not see eye to eye any more, and the E&P major is now left holding the baby.
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8It is learnt that the owners of the shipyard, Gulf Piping Company, is in such serious trouble that is is unable to pay wages.
8Strikes are unknown in the UAE but in this shipyard, workers have downed their tools several times as the management has not been able to cough up the money. The downturn in the ship construction industry has forced Gulf Piping Company into near bankruptcy. It is learnt that the UAE government has taken over some parts of the shipyard.
8ONGC is now desperately trying to egg the beleaguered shipyard to release the vessel but that seems to be turning out to be a difficult job because unless the work is completed, it cannot sail out..
8Members of the consortium of contractors do not see eye to eye any more, and the E&P major is now left holding the baby.
Click on Details for more Details
ONGC chairman Dinesh K Sarraf had a long enough run at the helm of ONGC to leave behind an enduring legacy when he remits office in September this year
8But what will the legacy be?
8Will he be known for going to court against the wishes of the government of India to protect the interest of the company when gas was diverted away from its reservoirs by wells drilled by RIL in the neighboring D-6 block?
8Or will he be judged for not showing the same spunk when he surrendered to a government diktat to take over GSPC's ailing Deendayal field, which, in all probability, was not in the company's interest?
8The jury is still out on Sarraf's problem solving skills: he has not acted quickly enough to get the Daman field into production after the contractor declared bankruptcy, which will mean that production will be delayed by a season or two because of initial inaction, nor has he shown alacrity yet in resolving the mess around the Sagar Samrat conversion to the best interest of ONGC.
8He could perhaps have moved faster to shore up production from ONGC's new and ageing fields while in tenure. Some of the fields which were meant to produce haven't done so yet
8The lost income, as a result, will mount to hundreds of crores of rupees.
8But Saraff and his team must be credited for putting together the $ 5 billion KG-DWN-98/2 investment even though implementation seems to be slowing down and there are early signs of delay.
8When he started off, Sarraf was known as a risk taker willing to stand up for what he believed was right, but somewhere down the line, he become risk averse. May be the system is to blame for the transition from one personna to the other.
8Clearly Saraff's legacy will not match up to the one left behind by the inimitable Subir Raha, though the two will measure up equally when it comes to uprightness, but his contribution will be a lot more than some of the others who were at the helm in ONGC before him.
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8But what will the legacy be?
8Will he be known for going to court against the wishes of the government of India to protect the interest of the company when gas was diverted away from its reservoirs by wells drilled by RIL in the neighboring D-6 block?
8Or will he be judged for not showing the same spunk when he surrendered to a government diktat to take over GSPC's ailing Deendayal field, which, in all probability, was not in the company's interest?
8The jury is still out on Sarraf's problem solving skills: he has not acted quickly enough to get the Daman field into production after the contractor declared bankruptcy, which will mean that production will be delayed by a season or two because of initial inaction, nor has he shown alacrity yet in resolving the mess around the Sagar Samrat conversion to the best interest of ONGC.
8He could perhaps have moved faster to shore up production from ONGC's new and ageing fields while in tenure. Some of the fields which were meant to produce haven't done so yet
8The lost income, as a result, will mount to hundreds of crores of rupees.
8But Saraff and his team must be credited for putting together the $ 5 billion KG-DWN-98/2 investment even though implementation seems to be slowing down and there are early signs of delay.
8When he started off, Sarraf was known as a risk taker willing to stand up for what he believed was right, but somewhere down the line, he become risk averse. May be the system is to blame for the transition from one personna to the other.
8Clearly Saraff's legacy will not match up to the one left behind by the inimitable Subir Raha, though the two will measure up equally when it comes to uprightness, but his contribution will be a lot more than some of the others who were at the helm in ONGC before him.
Click on Details for more. Details
Is the Modi government thinking of another piece of dramatic reform that will be unveiled before the next general elections.
8The Prime Minister is a risk taker and just as demonetization has won him the UP elections, a similar big bang reform will be needed to fire up the electorate again.
8What can such a reform measure be?
8Modi is really thinking big and the website carries here a presentation that is now doing the rounds in North and South Block, which calls a dramatic and unprecedented break from the past.
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8The Prime Minister is a risk taker and just as demonetization has won him the UP elections, a similar big bang reform will be needed to fire up the electorate again.
8What can such a reform measure be?
8Modi is really thinking big and the website carries here a presentation that is now doing the rounds in North and South Block, which calls a dramatic and unprecedented break from the past.
Click on Report to find out more Details
It is necessary for Indian players to understand the energy dynamics of the $ 46 billion China-Pakistan Economic Corridor (CPEC).
8What will it entail?
8What are the big benefits really for China?
8And will China shift its coal based power projects out of China into Pakistan, fired by coal imported from Chinal?
8There is mutual gain too for both countries from CPEC
8Almost 80% of China’s total oil imports are currently transported from Strait of Malacca to Shanghai. This distance is roughly 16,000 kilometer and takes 2 to 3 months. With Gwadar in Pakistan becoming operational as a part of CPEC, the oil route can be reduced substantially to less than 5,000 kilometers. China plans to build oil storage facilities and a refinery at Gwadar Port, to facilitate transportation of oil via road and pipeline to mainland China through its Xinjiang region.
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8What will it entail?
8What are the big benefits really for China?
8And will China shift its coal based power projects out of China into Pakistan, fired by coal imported from Chinal?
8There is mutual gain too for both countries from CPEC
8Almost 80% of China’s total oil imports are currently transported from Strait of Malacca to Shanghai. This distance is roughly 16,000 kilometer and takes 2 to 3 months. With Gwadar in Pakistan becoming operational as a part of CPEC, the oil route can be reduced substantially to less than 5,000 kilometers. China plans to build oil storage facilities and a refinery at Gwadar Port, to facilitate transportation of oil via road and pipeline to mainland China through its Xinjiang region.
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