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Aug 2016
A new cross-industry initiative has been established that aims to accelerate the use of LNG as a marine fuel.
8Partners in the SEALNG initiative include Lloyd’s Register (LR), Carnival Corp., DNV GL, ENGIE, ENN, GE, Gaztransport & Technigaz (GTT), Mitsubishi, NYK Line, Port of Rotterdam, Qatargas, Shell, TOTE and Wärtsilä.
8The coalition will largely focus on supporting the development of LNG bunkering in major ports, educating stakeholders about the various opportunities and risks involved in the use of LNG as a marine fuel, and developing consistent regulations for cleaner shipping fuels.
8LNG-fuelled shipping has mainly been concentrated in specialist ship sectors – short sea shipping and ferries, mainly sailing between two fixed ports.
8But the new collaborations will seek to expand the mandate to a larger number of ports.
Click on Reports for more Details
8Partners in the SEALNG initiative include Lloyd’s Register (LR), Carnival Corp., DNV GL, ENGIE, ENN, GE, Gaztransport & Technigaz (GTT), Mitsubishi, NYK Line, Port of Rotterdam, Qatargas, Shell, TOTE and Wärtsilä.
8The coalition will largely focus on supporting the development of LNG bunkering in major ports, educating stakeholders about the various opportunities and risks involved in the use of LNG as a marine fuel, and developing consistent regulations for cleaner shipping fuels.
8LNG-fuelled shipping has mainly been concentrated in specialist ship sectors – short sea shipping and ferries, mainly sailing between two fixed ports.
8But the new collaborations will seek to expand the mandate to a larger number of ports.
Click on Reports for more Details
The Indian shipping industry must take note of the fast moving developments in the LNG-powered bulk carriers segment.
8Hyundai has singed a contract for building what will be the world's largest LNG based bulk carrier, with a capacity of 50,000 DWT
8The order was placed by ILSHIN Logistics
8The project is a collaboration between steelmaker POSCO and ILSHIN Logistics to develop a new generation of ships which is compatible with new environment standards
8The ship, which is expected to be delivered in 4Q17, will transport limestone cargoes in the Korean coastal trade for POSCO.
8Lloyd’s Register (LR) and the Korean Register (KR) will provide dual classification and certification, verifying compliance with the International Gas Fuel (IGF) Code.
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8Hyundai has singed a contract for building what will be the world's largest LNG based bulk carrier, with a capacity of 50,000 DWT
8The order was placed by ILSHIN Logistics
8The project is a collaboration between steelmaker POSCO and ILSHIN Logistics to develop a new generation of ships which is compatible with new environment standards
8The ship, which is expected to be delivered in 4Q17, will transport limestone cargoes in the Korean coastal trade for POSCO.
8Lloyd’s Register (LR) and the Korean Register (KR) will provide dual classification and certification, verifying compliance with the International Gas Fuel (IGF) Code.
Click on Reports for more Details
Decommissioning of offshore facilities have now become easier because of the deployment of Single Lift Vessels which makes the job happen quickly.
8These vessels do away with the removal of the offshore modules individually as they were installed.
8This new process is likely to save money and time for operators involved in decommissioning work
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8These vessels do away with the removal of the offshore modules individually as they were installed.
8This new process is likely to save money and time for operators involved in decommissioning work
Click on Reports for more Details
The CAG has suggested a series of corrective measures to ensure that there is no over reporting of output in the future.
Among the measures suggested are:
8The loss during transportation of crude oil through closed pipeline systems should be closely monitored to ensure that the variations are in normal range and identify abnormal loss for corrective action.
8Asset-specific Standard Operating Procedures (SOPs) for measurement of crude oil production may be formulated and implemented in all onshore assets in a time-bound manner to ensure that uniform measurement practices are followed across all production installations
8Asset specific guidelines for segregating internal consumption of crude oil into ‘recoverable’ and ‘non-recoverable’ should be designed and ‘recoverable’ quantum should not be included as crude oil production.
8Norms for crude oil transit loss should be fixed and cases of abnormal transit loss should be investigated and remedial action taken to prevent revenue loss.
8ONGC should strictly adhere to prescribed schedules laid down for calibration of all crude oil measuring devices, such as storage tanks and Mass Flow Meters, Turbine Meters, Auto Samplers, etc. in both offshore and onshore assets to ensure accuracy of their measurement.
8Electronic and physical trails in support of measurement of crude oil at various stages of production should be maintained to derive assurance regarding their accuracy.
8The SCADA system installed in all production installations must be integrated with ICE-SAP
8The ERP system for capturing data must minimise manual intervention and improve accuracy of reported information. The production reports for onshore assets should be generated through the SAP-PRA module, in line with the practice in offshore Assets, to preclude the possibility of their manual manipulation.
8The company should report condensate as a separate stream as opined by an international consultant.
8Lastly, ONGC must ensure that items other than crude oil, namely, condensate, off-gas, basic sediment and water, etc., should not be reported as crude oil production.
8Considering the difficulties expressed by the mangement in accurately measuring the crude oil at the production point, there appears to be a case for shifting the production reporting point to a suitable location where stabilized crude (excluding BS&W, off-gas and condensate) can be accurately measured.
Comment: The very fact that the over reporting took place on such a massive scale is a sordid testimony of lack of accountability in ONGC. Such a massive loss of revenue is not acceptable at all. Immediate steps must be taken to correct the inconsistencies. And action taken against those who erred. A similar audit must be carried out for other oil companies, such as Oil India Ltd. What is more, the entire crude oil production and calibration system must be audited thoroughly to pinpoint inaccuracies so that course corrections can be made wherever needed.
Click on Reports for more Details
Among the measures suggested are:
8The loss during transportation of crude oil through closed pipeline systems should be closely monitored to ensure that the variations are in normal range and identify abnormal loss for corrective action.
8Asset-specific Standard Operating Procedures (SOPs) for measurement of crude oil production may be formulated and implemented in all onshore assets in a time-bound manner to ensure that uniform measurement practices are followed across all production installations
8Asset specific guidelines for segregating internal consumption of crude oil into ‘recoverable’ and ‘non-recoverable’ should be designed and ‘recoverable’ quantum should not be included as crude oil production.
8Norms for crude oil transit loss should be fixed and cases of abnormal transit loss should be investigated and remedial action taken to prevent revenue loss.
8ONGC should strictly adhere to prescribed schedules laid down for calibration of all crude oil measuring devices, such as storage tanks and Mass Flow Meters, Turbine Meters, Auto Samplers, etc. in both offshore and onshore assets to ensure accuracy of their measurement.
8Electronic and physical trails in support of measurement of crude oil at various stages of production should be maintained to derive assurance regarding their accuracy.
8The SCADA system installed in all production installations must be integrated with ICE-SAP
8The ERP system for capturing data must minimise manual intervention and improve accuracy of reported information. The production reports for onshore assets should be generated through the SAP-PRA module, in line with the practice in offshore Assets, to preclude the possibility of their manual manipulation.
8The company should report condensate as a separate stream as opined by an international consultant.
8Lastly, ONGC must ensure that items other than crude oil, namely, condensate, off-gas, basic sediment and water, etc., should not be reported as crude oil production.
8Considering the difficulties expressed by the mangement in accurately measuring the crude oil at the production point, there appears to be a case for shifting the production reporting point to a suitable location where stabilized crude (excluding BS&W, off-gas and condensate) can be accurately measured.
Comment: The very fact that the over reporting took place on such a massive scale is a sordid testimony of lack of accountability in ONGC. Such a massive loss of revenue is not acceptable at all. Immediate steps must be taken to correct the inconsistencies. And action taken against those who erred. A similar audit must be carried out for other oil companies, such as Oil India Ltd. What is more, the entire crude oil production and calibration system must be audited thoroughly to pinpoint inaccuracies so that course corrections can be made wherever needed.
Click on Reports for more Details
The CAG has found ONGC's explanation behind the over reporting of crude production to be unsatisfactory.
8According to the CAG, the "Company had itself stated to the Government (July 2012) that ‘condensate’ is ‘neither crude oil nor is it sold’. Yet, the company has been ‘reporting production
of crude oil inclusive of condensate right from 1990 onwards’. It is this incorrect practice of reporting condensate as crude oil, even as ONGC was aware of the difference between the two, that has led to the present situation of additional subsidy share on this account."
8Then again, "as the company itself points out in reply, ‘off-gas’ is removed subsequently from the crude oil and added to gas stream. It is later sold as natural gas. As such, reporting ‘off-gas’ as crude production is incorrect."
8Eventually, the ONGC brass fell in line and accepted the CAG's findings.
8Anomalies were also noticed in the measurement practices. In the Western offshore, for example, the reported production quantity measured at offshore platforms was higher than the actual sale quantity with the bulk of the differences in volume arising during transportation of crude oil in a closed pipeline.
8Though a SCADA system was installed in all onshore production since 2010, the company did not adhere to the calibration procedures.
8In fact, instances were noticed where crude oil tanks installed in 1970 had not been cleaned yet or re-calibrated against the prescribed calibration schedule updated every five years.
Click on Reports for more Details
8According to the CAG, the "Company had itself stated to the Government (July 2012) that ‘condensate’ is ‘neither crude oil nor is it sold’. Yet, the company has been ‘reporting production
of crude oil inclusive of condensate right from 1990 onwards’. It is this incorrect practice of reporting condensate as crude oil, even as ONGC was aware of the difference between the two, that has led to the present situation of additional subsidy share on this account."
8Then again, "as the company itself points out in reply, ‘off-gas’ is removed subsequently from the crude oil and added to gas stream. It is later sold as natural gas. As such, reporting ‘off-gas’ as crude production is incorrect."
8Eventually, the ONGC brass fell in line and accepted the CAG's findings.
8Anomalies were also noticed in the measurement practices. In the Western offshore, for example, the reported production quantity measured at offshore platforms was higher than the actual sale quantity with the bulk of the differences in volume arising during transportation of crude oil in a closed pipeline.
8Though a SCADA system was installed in all onshore production since 2010, the company did not adhere to the calibration procedures.
8In fact, instances were noticed where crude oil tanks installed in 1970 had not been cleaned yet or re-calibrated against the prescribed calibration schedule updated every five years.
Click on Reports for more Details
In a shocking indictment, the CAG has accused ONGC of grossly over inflating its crude oil production in the five year period, from 2010 to 2015.
8The over reporting is as high as 12.1%, as this is the volume BS&W, off-gas, recoverable internal consumption and condensate that should not have been included in the company's crude production data.
8The over inflation has led to incorrect reporting of crude production.
8The result is a big loss in terms of extra subsidy paid out by ONGC on the incremental production.
8The CAG has estimated the loss at a whopping Rs 18,787 crore for the three year period from 2011-12 to 2014-15.
8What's more, ONGC's employees got paid an undeserved Performance Related Pay (PRP) of Rs 106 crore in 2013-14 while the performance rating, based on actual production, should have been lower because of lesser production.
8Cumulatively, for the five year period, the underserved PRP volume will be much higher.
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8The over reporting is as high as 12.1%, as this is the volume BS&W, off-gas, recoverable internal consumption and condensate that should not have been included in the company's crude production data.
8The over inflation has led to incorrect reporting of crude production.
8The result is a big loss in terms of extra subsidy paid out by ONGC on the incremental production.
8The CAG has estimated the loss at a whopping Rs 18,787 crore for the three year period from 2011-12 to 2014-15.
8What's more, ONGC's employees got paid an undeserved Performance Related Pay (PRP) of Rs 106 crore in 2013-14 while the performance rating, based on actual production, should have been lower because of lesser production.
8Cumulatively, for the five year period, the underserved PRP volume will be much higher.
Click on Reports for more Details
There is no better business in India today than to get into the liquid and LPG storage and logistics business.
8India's POL consumption is growing at a scorching pace and just about every storage terminal has been booked up for business.
8Third party logistics in the liquid fuel business is big. And the revenue model is fee-based, with handing services and O&M fees thrown in.
8On the LPG side too, the future of storage and logistics is bright as imports are likely to go up, given rising demand.
8Third party logistics is one opportunity as is retailing of auto gas and packed LPG cylinders for commercial use.
8Marine product bunkering in gas and industrial LPG distribution are other high growth segments.
8The LPG business model is a fee based model, with fees for sourcing of LPG. There are retail margins to reap too from distribution of LPG, besides handling and other service charges.
Click on Reports to find out more, including business development opportunities available in this area. Details
8India's POL consumption is growing at a scorching pace and just about every storage terminal has been booked up for business.
8Third party logistics in the liquid fuel business is big. And the revenue model is fee-based, with handing services and O&M fees thrown in.
8On the LPG side too, the future of storage and logistics is bright as imports are likely to go up, given rising demand.
8Third party logistics is one opportunity as is retailing of auto gas and packed LPG cylinders for commercial use.
8Marine product bunkering in gas and industrial LPG distribution are other high growth segments.
8The LPG business model is a fee based model, with fees for sourcing of LPG. There are retail margins to reap too from distribution of LPG, besides handling and other service charges.
Click on Reports to find out more, including business development opportunities available in this area. Details
For reference purposes the website carries here the following tenders:
8Carrying out Terminal Works for Pipeline Replacement in Gujarat Region [GAIL] Details
8Carrying out Integrity Survey of Non-Piggable Pipelines, Cauvery Basin [GAIL] Details
8Supply and Commissioning of Online Process Gas Analyzer, Barauni Oil Refinery [IOC] Details
8Procurement of High Density Ammonium Nitrate [IOC] Details
8Civil works related to Work Over Rig Operations in Cauvery Asset, Karaikal [ONGC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8China fuel exports hit record in July, crude imports up 1.2 pct Details
8Oil rises on new output freeze calls, but traders bet on further falls Details
8ONGC, OIL clear air over auctions in Assam via ads: Government Details
8ONGC over-reported crude oil production by 12%: CAG Details
8Swiber appeals Bombay High Court to stop ONGC from invoking Rs 700 crore bank guarantee Details
8Lower subsidies on kerosene & LPG boost outlook on OMCs Details
8India's oil exploration regime received thumbs up from industry, shows survey Details
8Oil continues to oblige Jaitley with low prices Details
8Hindustan Oil Exploration Company intimates of divestment of stake by ENI group Details
8Oil prices rebound as OPEC announces meet Details
8Oil market on path to rebalancing, OPEC monitoring situation - Qatar Details
You can also click on Newsclips for more Details
8Carrying out Terminal Works for Pipeline Replacement in Gujarat Region [GAIL] Details
8Carrying out Integrity Survey of Non-Piggable Pipelines, Cauvery Basin [GAIL] Details
8Supply and Commissioning of Online Process Gas Analyzer, Barauni Oil Refinery [IOC] Details
8Procurement of High Density Ammonium Nitrate [IOC] Details
8Civil works related to Work Over Rig Operations in Cauvery Asset, Karaikal [ONGC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8China fuel exports hit record in July, crude imports up 1.2 pct Details
8Oil rises on new output freeze calls, but traders bet on further falls Details
8ONGC, OIL clear air over auctions in Assam via ads: Government Details
8ONGC over-reported crude oil production by 12%: CAG Details
8Swiber appeals Bombay High Court to stop ONGC from invoking Rs 700 crore bank guarantee Details
8Lower subsidies on kerosene & LPG boost outlook on OMCs Details
8India's oil exploration regime received thumbs up from industry, shows survey Details
8Oil continues to oblige Jaitley with low prices Details
8Hindustan Oil Exploration Company intimates of divestment of stake by ENI group Details
8Oil prices rebound as OPEC announces meet Details
8Oil market on path to rebalancing, OPEC monitoring situation - Qatar Details
You can also click on Newsclips for more Details
Who is going to benefit from the hikes in the subsided LPG price?
8The August 1 increase is the second one after a similar increase in July.
8The primary beneficiary is going to be the government.
Click on Reports to know more and also to find out how under recoveries are going to pan out for oil marketing companies going ahead. Details
8The August 1 increase is the second one after a similar increase in July.
8The primary beneficiary is going to be the government.
Click on Reports to know more and also to find out how under recoveries are going to pan out for oil marketing companies going ahead. Details
A business development proposal has come up for two mounded storage vessels in an existing LPG storage facility
8The new capacity will be around 1400 MT
8This will raise the existing storage capacity of the facility from 2 to around 6 days
8Attendant fire fighting facilities will come up as well
8Cost of the project: around Rs 30 crore
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8The new capacity will be around 1400 MT
8This will raise the existing storage capacity of the facility from 2 to around 6 days
8Attendant fire fighting facilities will come up as well
8Cost of the project: around Rs 30 crore
Click on Reports for more Details
RFQs are expected soon for a fuel upgradation programme in an existing refinery involving the following units:
8Desulphurization of petrol from the PFCC: About 820 KTPA of additonl or new capacity
8Sour water strippers with around 200 to 300 KTPA design
8180 TPD sulphur recovery unit
8New tankages
8Full revamp of an ETP
8Offsites including matching nitrogen and instrument air facilites
Click on Reports for more Details
8Desulphurization of petrol from the PFCC: About 820 KTPA of additonl or new capacity
8Sour water strippers with around 200 to 300 KTPA design
8180 TPD sulphur recovery unit
8New tankages
8Full revamp of an ETP
8Offsites including matching nitrogen and instrument air facilites
Click on Reports for more Details
Eventually, oil marketing companies, given the very large number of retail outlets, will have to spend much more time and money in developing their non-core businesses.
8So much so that they become equal to or larger than their core operations.
8The low hanging fruits will be easier to collect as most of the current pool of ideas provide minimal investment and maximum return.
8It is pertinent to note that for slow moving public sector companies, developing non-core competencies is not going to be easy. The learning curve will have to steep from pilot projects that are now sought to be launched by almost all marketing companies.
8The website predicts that in the next 15 years, oil marketing companies will have to diversify their business format away from just fossil fuels into making and selling a diverse range of products, from petrochemicals, specialty chemicals and FMCG while offering services such as restauranteering, e-commerce, fleet management, banking and finance and other assorted activities.
8That's where the money will come from in the future and not from dispensing just petrol and diesel.
Click on Reports for more Details
8So much so that they become equal to or larger than their core operations.
8The low hanging fruits will be easier to collect as most of the current pool of ideas provide minimal investment and maximum return.
8It is pertinent to note that for slow moving public sector companies, developing non-core competencies is not going to be easy. The learning curve will have to steep from pilot projects that are now sought to be launched by almost all marketing companies.
8The website predicts that in the next 15 years, oil marketing companies will have to diversify their business format away from just fossil fuels into making and selling a diverse range of products, from petrochemicals, specialty chemicals and FMCG while offering services such as restauranteering, e-commerce, fleet management, banking and finance and other assorted activities.
8That's where the money will come from in the future and not from dispensing just petrol and diesel.
Click on Reports for more Details
This particular oil marketing company is also planning to offer what it calls personal travel experiences with a restricted list of destinations with curated, well designed and customized itineraries.
8Its other plans are to provide a one-stop omni -channel for regular household needs of urban customers from its outlets in prime locations.
8Then again another ambition is to become the the country's no. 1 fleet management brand. It plans to provide end-to-end solutions to fleet operators, including driver training and verification, finance and insurance offerings, and vehicle maintenance and operations management solutions. Here, the company is targeting 15,000 plus fleet customers in the top 20 national highways.
Click on Reports for more Details
8Its other plans are to provide a one-stop omni -channel for regular household needs of urban customers from its outlets in prime locations.
8Then again another ambition is to become the the country's no. 1 fleet management brand. It plans to provide end-to-end solutions to fleet operators, including driver training and verification, finance and insurance offerings, and vehicle maintenance and operations management solutions. Here, the company is targeting 15,000 plus fleet customers in the top 20 national highways.
Click on Reports for more Details
The quintessential retail outlet format that defines the business model of oil marketing companies is under threat today.
8Deregulation and heightened competition is increasingly making retail outlets selling petrol and diesel a low return business.
8And on top of that, disruptive technology, such as the advent of battery powered cars, is threatening the very existence of the retail outlet as we know it.
8Everyone knows that the threat is right at the door step but are companies taking steps to mitigate the threat?
8Already, globally, 70% of an outlet's sales is attributed to non fuel sources. In the US, convenience stores account for 80% of the fuel consumed.
8In India, that's not the way it is.
8Some Indian companies are learning to cope and taking the first steps to define a future where the outlet will make more money selling other goods rather than transportation fuels.
Click on Reports for more Details
8Deregulation and heightened competition is increasingly making retail outlets selling petrol and diesel a low return business.
8And on top of that, disruptive technology, such as the advent of battery powered cars, is threatening the very existence of the retail outlet as we know it.
8Everyone knows that the threat is right at the door step but are companies taking steps to mitigate the threat?
8Already, globally, 70% of an outlet's sales is attributed to non fuel sources. In the US, convenience stores account for 80% of the fuel consumed.
8In India, that's not the way it is.
8Some Indian companies are learning to cope and taking the first steps to define a future where the outlet will make more money selling other goods rather than transportation fuels.
Click on Reports for more Details
The website carries here the work done by one public sector company which has identified four key initiatives from among a list of 100 ideas to strengthen its non-core competencies.
The areas where it plans to invest money is in pushing its rural outlets into doing more, including:
8Allowing the usage of rural outlets to place e-commerce orders and taking deliveries in partnership with companies such as Amazon.
8Making financial services available in partnership with payment startups
8Partnering with specialist firms to offer assistance in procuring fertilizers and promoting best practices among agriculturists
8Offering vocational training programmes to local people
8Extending two wheeler services to clients
Click on Reports for more Details
The areas where it plans to invest money is in pushing its rural outlets into doing more, including:
8Allowing the usage of rural outlets to place e-commerce orders and taking deliveries in partnership with companies such as Amazon.
8Making financial services available in partnership with payment startups
8Partnering with specialist firms to offer assistance in procuring fertilizers and promoting best practices among agriculturists
8Offering vocational training programmes to local people
8Extending two wheeler services to clients
Click on Reports for more Details
Another area where GAIL may face increasing pressure going head is in its petrochemical business.
8The company is building its capacity but it does have to scale ahead of its competitors.
8GAIL’s polymer operations had earlier been more competitive compared to naphtha-based manufacturers due to access to cheaper feedstock in gas.
8However, with significant fall in crude oil and naphtha prices, the naphtha crackers are expected to be more cost competitive than players based on RLNG at least over the short to medium term.
8High cost of long-term RasGas RLNG (primary feedstock for GAIL’s petrochemical business) coupled with low prices of polymers and increased capital related charges post expansion led to loss before interest and tax for the segment of Rs 698 crore in 9M FY2016.
8However, since January 2016, the FOB prices of long-term RasGas RLNG have declined significantly, which would partly alleviate the concerns related to feedstock pricing.
8But even then, this is going to be one segment where margins are going to be under pressure in the foreseeable future.
Click on Reports for more Details
8The company is building its capacity but it does have to scale ahead of its competitors.
8GAIL’s polymer operations had earlier been more competitive compared to naphtha-based manufacturers due to access to cheaper feedstock in gas.
8However, with significant fall in crude oil and naphtha prices, the naphtha crackers are expected to be more cost competitive than players based on RLNG at least over the short to medium term.
8High cost of long-term RasGas RLNG (primary feedstock for GAIL’s petrochemical business) coupled with low prices of polymers and increased capital related charges post expansion led to loss before interest and tax for the segment of Rs 698 crore in 9M FY2016.
8However, since January 2016, the FOB prices of long-term RasGas RLNG have declined significantly, which would partly alleviate the concerns related to feedstock pricing.
8But even then, this is going to be one segment where margins are going to be under pressure in the foreseeable future.
Click on Reports for more Details
Of its three main businesses, its trading arm carries the biggest risk.
8GAIL today has a crisis in hand trying to find a market for 3.5 MMTPA of LNG from Cheniere Energy’s Sabine pass liquefaction plant in the US. The contract is for 20 years. Besides, GAIL also has another 2.3 MMTPA contract to liquefy gas at Cove Point terminal in the US.
8The consignments were initially meant for India but an over supplied market in Asia now means that GAIL will have to compete with more experienced and deep pocketed companies such as Shell and Exxon Mobil for share of the markets in Europe and South America.
8The problem is further accentuated by the fact that its does not have a dedicated fleet of vessels to deliver the LNG. The prediction is that spare LNG vessel capacity will dry up by the time obligations to uplift US cargoes come into play.
8The gas major is trying to enter into swapping contracts, which is to to sell its US gas to LNG buyers in Europe (served by the Middle-East) and procuring gas for India from the Middle-East, leading to material reductions in freight cost.
8But this is not going to be that easy to handle as a lot of others will try to outwit GAIL in the game.
8Then again, the competitiveness of Henry Hub-based LNG pricing against liquid fuels has deteriorated significantly lately due to a decline in crude oil prices.
8If crude oil prices continue to be at low levels over the longer term, it will put significant pressure on margins of the gas trading segment of GAIL due to challenges expected in marketing of HH linked LNG in the face of lower spot LNG and liquid fuel prices.
Click on Reports for more Details
8GAIL today has a crisis in hand trying to find a market for 3.5 MMTPA of LNG from Cheniere Energy’s Sabine pass liquefaction plant in the US. The contract is for 20 years. Besides, GAIL also has another 2.3 MMTPA contract to liquefy gas at Cove Point terminal in the US.
8The consignments were initially meant for India but an over supplied market in Asia now means that GAIL will have to compete with more experienced and deep pocketed companies such as Shell and Exxon Mobil for share of the markets in Europe and South America.
8The problem is further accentuated by the fact that its does not have a dedicated fleet of vessels to deliver the LNG. The prediction is that spare LNG vessel capacity will dry up by the time obligations to uplift US cargoes come into play.
8The gas major is trying to enter into swapping contracts, which is to to sell its US gas to LNG buyers in Europe (served by the Middle-East) and procuring gas for India from the Middle-East, leading to material reductions in freight cost.
8But this is not going to be that easy to handle as a lot of others will try to outwit GAIL in the game.
8Then again, the competitiveness of Henry Hub-based LNG pricing against liquid fuels has deteriorated significantly lately due to a decline in crude oil prices.
8If crude oil prices continue to be at low levels over the longer term, it will put significant pressure on margins of the gas trading segment of GAIL due to challenges expected in marketing of HH linked LNG in the face of lower spot LNG and liquid fuel prices.
Click on Reports for more Details
GAIL is India's largest gas transmission company. It has a network of 11,000 km of pipeline network and has an iron grip on the market with a 70% market share.
8But is it doing its business right?
8The company still gets an "AAA" ranking for its convertible bonds but, increasingly, its three main businesses -- gas transmission, trading and petrochemicals -- are under pressure from many directions.
8And the management does not seem to know how to tackle the logjam ahead.
8The return on capital employed on its core gas transmission and trading business has slowed down to just 9% in FY 2016 from 30% in FY 2011
8Its transmission business is now under the control of the PNGRB, which sets tariffs for its pipelines.
8What is more, quite a lot of its pipelines are under utilized, thus pushing returns lower.
8The PNGRB has relaxed the tariff rules recently or else life would have been much harder for the Indian public sector gas major. This year, the volume divisor (to estimate capacity utilisation) would be higher of either 75% of capacity and actual volume from sixth year onwards, against 100% of capacity earlier.
8The regulator has also been raising tariffs on its pipelines, if not as much as what GAIL would have wanted, but in increments that will keep the gas major's return on investment growing at a somewhat steady pace.
8The point is that excessive returns are now ruled out as the regulatory grip tightens.
8And as the demand for gas goes up, there will be a rising chorus of protest against the GAIL's stranglehold on the pipeline business that is coming in the way of rapid growth of the gas industry.
8And sooner rather than later the transmission business will have to be hived off from its trading business.
8And this will have severe repercussions on the company in the future.
Click on Reports for more Details
8But is it doing its business right?
8The company still gets an "AAA" ranking for its convertible bonds but, increasingly, its three main businesses -- gas transmission, trading and petrochemicals -- are under pressure from many directions.
8And the management does not seem to know how to tackle the logjam ahead.
8The return on capital employed on its core gas transmission and trading business has slowed down to just 9% in FY 2016 from 30% in FY 2011
8Its transmission business is now under the control of the PNGRB, which sets tariffs for its pipelines.
8What is more, quite a lot of its pipelines are under utilized, thus pushing returns lower.
8The PNGRB has relaxed the tariff rules recently or else life would have been much harder for the Indian public sector gas major. This year, the volume divisor (to estimate capacity utilisation) would be higher of either 75% of capacity and actual volume from sixth year onwards, against 100% of capacity earlier.
8The regulator has also been raising tariffs on its pipelines, if not as much as what GAIL would have wanted, but in increments that will keep the gas major's return on investment growing at a somewhat steady pace.
8The point is that excessive returns are now ruled out as the regulatory grip tightens.
8And as the demand for gas goes up, there will be a rising chorus of protest against the GAIL's stranglehold on the pipeline business that is coming in the way of rapid growth of the gas industry.
8And sooner rather than later the transmission business will have to be hived off from its trading business.
8And this will have severe repercussions on the company in the future.
Click on Reports for more Details
There is a massive increase in offshore storage of excess crude in the world today.
8The figure stands at 90 million tonnes of crude stored in ships worldwide
8Some have questioned whether a floating storage “contango” has unfolded.
8This is a situation in which oil traders keep oil at sea until the price rises – effectively making money while doing nothing. However, the price of oil, while steadily rising again, isn’t actually going up quickly enough for this to make economic sense.
8Keeping oil on tankers isn’t cheap as there are shipping rates and insurance costs involved.
Click on Details to know what is happening in this part of the market today Details
8The figure stands at 90 million tonnes of crude stored in ships worldwide
8Some have questioned whether a floating storage “contango” has unfolded.
8This is a situation in which oil traders keep oil at sea until the price rises – effectively making money while doing nothing. However, the price of oil, while steadily rising again, isn’t actually going up quickly enough for this to make economic sense.
8Keeping oil on tankers isn’t cheap as there are shipping rates and insurance costs involved.
Click on Details to know what is happening in this part of the market today Details
For reference purposes the website carries here the following tenders:
8Corrigendum: EOI for Integrated SPS & SURF package for KG-DWN-98/2 Project, Kakinada [ONGC] Details
8Process Modification jobs in Lube Oil Block, Haldia Refinery [IOC] Details
8Carrying out Intelligent Pigging Survey of VSPL Pipeline, Visakhapatnam [GAIL] Details
8Procurement of Intrinsically safe Multifunction Calibrator for JLPL Loni Region [GAIL] Details
8Engineering and Project Management Consultancy jobs for upcoming Greenfield LPG Bottling Plant [IOC] Details
8Operation & Maintenance services for Deck Crane & Cargo Handling services at KG-OSN-2001/3 Block [GSPC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8RIL plans to raise Rs 10,000 cr in debt Details
8Chevron to sell assets in Asia worth up to $5 billion Details
8Nigeria using power, persuasion to curb oil militant attacks Details
8Thermal coal prices decline as traders take profit, oil weakens Details
8Crude slump sees oil majors’ debt burden double to $138 bn Details
8Oil enters bear market, mauled by supply glut Details
8RIL to commission $35 billion projects in FY17 Details
8RBI allows foreign investors to hike stake in HPCL Details
8Government may cut Gas price for producers by 20%: Report Details
8OIL pays Rs 2.49 crore royalty to Arunachal Pradesh Details
8Essar Oil to invest Rs 1,600 crore to upgrade Vadinar refinery; boost GRM by $1.50/bbl Details
8Essar Oil's fuel exports to fall in 2018/19 as focus shifts to local sales Details
8Pradhan, Acharya go personal on Mahanadi Details
8Oil prices slip as dollar strengthens on jobs report Details
8Centre’s disinvestment plan set to get Rs 80,000 cr boost; here’s how Details
You can also click on Newsclips for more Details
8Corrigendum: EOI for Integrated SPS & SURF package for KG-DWN-98/2 Project, Kakinada [ONGC] Details
8Process Modification jobs in Lube Oil Block, Haldia Refinery [IOC] Details
8Carrying out Intelligent Pigging Survey of VSPL Pipeline, Visakhapatnam [GAIL] Details
8Procurement of Intrinsically safe Multifunction Calibrator for JLPL Loni Region [GAIL] Details
8Engineering and Project Management Consultancy jobs for upcoming Greenfield LPG Bottling Plant [IOC] Details
8Operation & Maintenance services for Deck Crane & Cargo Handling services at KG-OSN-2001/3 Block [GSPC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8RIL plans to raise Rs 10,000 cr in debt Details
8Chevron to sell assets in Asia worth up to $5 billion Details
8Nigeria using power, persuasion to curb oil militant attacks Details
8Thermal coal prices decline as traders take profit, oil weakens Details
8Crude slump sees oil majors’ debt burden double to $138 bn Details
8Oil enters bear market, mauled by supply glut Details
8RIL to commission $35 billion projects in FY17 Details
8RBI allows foreign investors to hike stake in HPCL Details
8Government may cut Gas price for producers by 20%: Report Details
8OIL pays Rs 2.49 crore royalty to Arunachal Pradesh Details
8Essar Oil to invest Rs 1,600 crore to upgrade Vadinar refinery; boost GRM by $1.50/bbl Details
8Essar Oil's fuel exports to fall in 2018/19 as focus shifts to local sales Details
8Pradhan, Acharya go personal on Mahanadi Details
8Oil prices slip as dollar strengthens on jobs report Details
8Centre’s disinvestment plan set to get Rs 80,000 cr boost; here’s how Details
You can also click on Newsclips for more Details
We are proud to claim, immodestly perhaps, that we have developed one of the world's most sophisticated project monitoring softwares. It comes integrated with a CRM package.
8We capture hundreds of parameters around a project in the software.
8The software is also capable of generating hundreds of pages of detailed reports from its MSQL database, giving you dozens of ways to slice up the information.
8At the backend, we only employ engineers to feed in primary data from our contacts around the country.
8Importantly, it is not a static but a dynamic software that moves with a project, giving you scores of updates until the project is commissioned.
8The software can forecast future project movements based on existing progress parameters.
8For example, in the KG-DWN-98/2 block, we know exactly how far the project has progressed and we can estimate project activities, from one month to a year and for a longer period as the project moves beyond the selection of consultants.
8Regular interactions with key owner contacts, potential consultants as well as equipment and service providers allow us to bring you updates as and when any of the many parameters we monitor changes. The change can happen in a week or in a few months. An alert will go to you as and when they occur. An update can be a minor one like the postponement of an RFQ date or a major change that involves multiple parameters.
8We spend the bulk of our time providing you verified contacts associated with a project -- at the level of the owner or the contractor or sub contractor -- along with their telephone numbers.
8Our archiving system allows you to keep track of how the project has moved over time. Every change is captured in our archives.
8The scale of our ambition is vast and so we are still filling in parts of our software. We now have updates on select high value petroleum projects. As for fertilizer projects, our other area of specialization, we have captured the full gamut of activity around all projects.
8A business development executive usually exudes confidence on his coverage of his area of operation but he will be surprised with what the software can throw up.
8A live analyst will always be there to support you. You just have to pick up the phone and call.
Click on the "Projects" button on our site, www.indianpetroplus.com and go to the products and services page to know more. Details
8We capture hundreds of parameters around a project in the software.
8The software is also capable of generating hundreds of pages of detailed reports from its MSQL database, giving you dozens of ways to slice up the information.
8At the backend, we only employ engineers to feed in primary data from our contacts around the country.
8Importantly, it is not a static but a dynamic software that moves with a project, giving you scores of updates until the project is commissioned.
8The software can forecast future project movements based on existing progress parameters.
8For example, in the KG-DWN-98/2 block, we know exactly how far the project has progressed and we can estimate project activities, from one month to a year and for a longer period as the project moves beyond the selection of consultants.
8Regular interactions with key owner contacts, potential consultants as well as equipment and service providers allow us to bring you updates as and when any of the many parameters we monitor changes. The change can happen in a week or in a few months. An alert will go to you as and when they occur. An update can be a minor one like the postponement of an RFQ date or a major change that involves multiple parameters.
8We spend the bulk of our time providing you verified contacts associated with a project -- at the level of the owner or the contractor or sub contractor -- along with their telephone numbers.
8Our archiving system allows you to keep track of how the project has moved over time. Every change is captured in our archives.
8The scale of our ambition is vast and so we are still filling in parts of our software. We now have updates on select high value petroleum projects. As for fertilizer projects, our other area of specialization, we have captured the full gamut of activity around all projects.
8A business development executive usually exudes confidence on his coverage of his area of operation but he will be surprised with what the software can throw up.
8A live analyst will always be there to support you. You just have to pick up the phone and call.
Click on the "Projects" button on our site, www.indianpetroplus.com and go to the products and services page to know more. Details
For reference purposes the website carries here the following tenders:
8Procurement of Extreme Pressure Mud Lubricant, Assam [OIL] Details
8Supply of Ultrasonic Material Thickness Gauge, Assam [OIL] Details
8Supply of Oil Soluble Demulsifier for Kathaloni OCS, Assam [OIL] Details
8Supply of Carbon Steel Pipes, Digboi Refinery [IOC] Details
8Procurement of Pressure Gauges for DHDT Unit, Gujarat Refinery [IOC] Details
8Refurbishment of Dry Gas Seal of Compressors of Paradip Refinery [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Iraq's crude oil production in July rises to 4.632 mln bpd - SOMO Details
8U.S. states signed pact to keep Exxon climate probe confidential Details
8Govt could save Rs 2,000 crore on LPG subsidy through sustained LPG price hikes Details
8OIL and ONGC pay differential royalty to State of Assam Details
8GST: What India Inc has to say Details
8Gulf Oil’s gross revenue rises 22.5 per cent Details
8Maharashtra sets up committee to guide govt on renewable energy Details
8'Oil royalty will be of help to flood victims' Details
You can also click on Newsclips for more Details
8Procurement of Extreme Pressure Mud Lubricant, Assam [OIL] Details
8Supply of Ultrasonic Material Thickness Gauge, Assam [OIL] Details
8Supply of Oil Soluble Demulsifier for Kathaloni OCS, Assam [OIL] Details
8Supply of Carbon Steel Pipes, Digboi Refinery [IOC] Details
8Procurement of Pressure Gauges for DHDT Unit, Gujarat Refinery [IOC] Details
8Refurbishment of Dry Gas Seal of Compressors of Paradip Refinery [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Iraq's crude oil production in July rises to 4.632 mln bpd - SOMO Details
8U.S. states signed pact to keep Exxon climate probe confidential Details
8Govt could save Rs 2,000 crore on LPG subsidy through sustained LPG price hikes Details
8OIL and ONGC pay differential royalty to State of Assam Details
8GST: What India Inc has to say Details
8Gulf Oil’s gross revenue rises 22.5 per cent Details
8Maharashtra sets up committee to guide govt on renewable energy Details
8'Oil royalty will be of help to flood victims' Details
You can also click on Newsclips for more Details
The "lower for longer" LNG prices can come as a big shot-in-the arm for the gas based industries in India.
8For one, they can use the demand-supply curves of LNG until 2040 to arrive at a reasonable price of gas, based on which they can build gas based enterprises.
8The big imponderable is whether the power sector will take to the use of LNG to create more capacity.
8A carbon tax is inevitable and that will keep the price of coal high enough for gas based power to kick in.
8High renewable energy growth will encourage gas based output for peaking power requirements unless technological innovations such as low cost storage capacities and distributed power become more viable.
8Other sectors such as fertilizer and petrochemical may be encouraged if the long term cost economics of LNG is favourable.
8Already a spate of new urea units are coming up, and more are being planned.
8Eventually competitive economics will drive capital growth in these segments: the real question will be whether it is more viable to manufacture a product in India or import it from countries where the wellhead cost of gas will be low.
Click on Reports for more Details
8For one, they can use the demand-supply curves of LNG until 2040 to arrive at a reasonable price of gas, based on which they can build gas based enterprises.
8The big imponderable is whether the power sector will take to the use of LNG to create more capacity.
8A carbon tax is inevitable and that will keep the price of coal high enough for gas based power to kick in.
8High renewable energy growth will encourage gas based output for peaking power requirements unless technological innovations such as low cost storage capacities and distributed power become more viable.
8Other sectors such as fertilizer and petrochemical may be encouraged if the long term cost economics of LNG is favourable.
8Already a spate of new urea units are coming up, and more are being planned.
8Eventually competitive economics will drive capital growth in these segments: the real question will be whether it is more viable to manufacture a product in India or import it from countries where the wellhead cost of gas will be low.
Click on Reports for more Details
Find out more on the latest status on the 60 MMTPA mega oil refinery promoted by IOC, BPCL and HPCL.
8Who is conducting the DFR for the project?
8Also what's the latest on site selection and land availability
8It is time already for business development managers to keep track of the project though RFQs are not expected anytime soon.
Click on Reports for more Details
8Who is conducting the DFR for the project?
8Also what's the latest on site selection and land availability
8It is time already for business development managers to keep track of the project though RFQs are not expected anytime soon.
Click on Reports for more Details
The Andaman and Nicobar deepwater blocks were once flaunted as great potential reservoirs of hydrocarbons.
8But those hopes have since been dashed.
8Poor prospectivity has forced the relinquishment of all but one block in the area
8The only operational block -- AN-DWN-2003/2 -- is operated by ENI
Click on Reports to find out more on what went wrong Details
8But those hopes have since been dashed.
8Poor prospectivity has forced the relinquishment of all but one block in the area
8The only operational block -- AN-DWN-2003/2 -- is operated by ENI
Click on Reports to find out more on what went wrong Details
For reference purposes, the website carries here the following data:
8Monthly average price of Indian basket of crude
8Revisions in prices of petrol and diesel since April, 2013
8Month-wise Dealers' Commission on petrol and diesel since April, 2013
8The reasons for not passing the full benefits of declining prices of crude oil in international market to consumers of petroleum products
8The total revenue generated by the government and other undertakings due to lower crude oil prices in the international market
8Year wise imports of crude oil, LNG and POL products
Click on Reports for more Details
8Monthly average price of Indian basket of crude
8Revisions in prices of petrol and diesel since April, 2013
8Month-wise Dealers' Commission on petrol and diesel since April, 2013
8The reasons for not passing the full benefits of declining prices of crude oil in international market to consumers of petroleum products
8The total revenue generated by the government and other undertakings due to lower crude oil prices in the international market
8Year wise imports of crude oil, LNG and POL products
Click on Reports for more Details
It is not the survival of US frackers that seems to be in question now but that of countries such as Nigeria and Angola, or those involved in the Arctic, or invested in the oil sands of Canada and Venezuela’s Orinoco basin.
8There is no doubt that roughly 4 million to 5 million barrels a day of future supply has been shelved around the world.
8This perhaps can set the stage for an oil shortage and a price spike later this decade.
8But whether OPEC can survive that long remains an open question, according to an interesting analysis accessed by this website.
8Saudi Arabia has deeper pockets but its net foreign reserves have fallen from $737 billion to $562 billion, even though it is borrowing money from abroad to slow the loss.
8But if oil prices continue to remain low the country may run into trouble sooner than later and capital flights out of the country can become a real possibility.
8If the emerging West Texas fields in the US can in fact boost output by another 3m barrels a day at anywhere near $55 a barrel as some have been claiming, the Saudis may have to dig in for a very long and painful siege.
Click on Reports for more Details
8There is no doubt that roughly 4 million to 5 million barrels a day of future supply has been shelved around the world.
8This perhaps can set the stage for an oil shortage and a price spike later this decade.
8But whether OPEC can survive that long remains an open question, according to an interesting analysis accessed by this website.
8Saudi Arabia has deeper pockets but its net foreign reserves have fallen from $737 billion to $562 billion, even though it is borrowing money from abroad to slow the loss.
8But if oil prices continue to remain low the country may run into trouble sooner than later and capital flights out of the country can become a real possibility.
8If the emerging West Texas fields in the US can in fact boost output by another 3m barrels a day at anywhere near $55 a barrel as some have been claiming, the Saudis may have to dig in for a very long and painful siege.
Click on Reports for more Details
Revolutionary improvements in drilling technology and data analytics have shifted the cost calculus faster than almost anybody thought possible.
8There is now talk of the Permian shale block in the US being as bountiful as the giant Ghawar field in Saudi Arabia, capable of expanding production from 2 million barrels a day to five million even if oil prices were to never rise from current levels.
8The full cycle break-even costs have fallen to $37 at Wolfcamp and Bone Spring in the Permian Basin, and to $35 in the South Central Oklahoma Oil Province in the US.
8The crucial mid-tier drillers have weathered the downturn. Many are still able to raise funds at low cost. Total output in the US has fallen by 1.2m barrels a day to 8.5m since the peak in April 2015 but production has been bottoming out.
8Today’s frackers can cope with oil prices in the $40 to $50 range.
8The much awaited rebalancing of the market has now been put off by yet another year until mid-2017.
8Worse yet, 90 per ent of the 3,900 drilled but uncompleted wells – so-called ‘DUCs’ – in the US are profitable at $50.
8This implies an overhang of easy supply waiting to hit the market.
Click on Reports for more Details
8There is now talk of the Permian shale block in the US being as bountiful as the giant Ghawar field in Saudi Arabia, capable of expanding production from 2 million barrels a day to five million even if oil prices were to never rise from current levels.
8The full cycle break-even costs have fallen to $37 at Wolfcamp and Bone Spring in the Permian Basin, and to $35 in the South Central Oklahoma Oil Province in the US.
8The crucial mid-tier drillers have weathered the downturn. Many are still able to raise funds at low cost. Total output in the US has fallen by 1.2m barrels a day to 8.5m since the peak in April 2015 but production has been bottoming out.
8Today’s frackers can cope with oil prices in the $40 to $50 range.
8The much awaited rebalancing of the market has now been put off by yet another year until mid-2017.
8Worse yet, 90 per ent of the 3,900 drilled but uncompleted wells – so-called ‘DUCs’ – in the US are profitable at $50.
8This implies an overhang of easy supply waiting to hit the market.
Click on Reports for more Details
One of the big changes in the global oil production dynamics is that technology has lowered the cost of US shale production to the point where it’s a viable competitor to OPEC, even at lower prices.
8The website carries here a table that shows how US shale costs compare with other major sources of oil.
8The pertinent point to note is that onshore OPEC fields in the Middle East have the lowest break-even costs at $10 to $40 per barrel.
8US shale remains competitive in the higher part of the cost band, requiring an oil price of $30 to $80 per barrel to break even, depending on the project.
8Non-Middle Eastern OPEC projects actually have a higher break-even price than US shale, requiring $40 to $100 per barrel.
Click on Reports for more Details
8The website carries here a table that shows how US shale costs compare with other major sources of oil.
8The pertinent point to note is that onshore OPEC fields in the Middle East have the lowest break-even costs at $10 to $40 per barrel.
8US shale remains competitive in the higher part of the cost band, requiring an oil price of $30 to $80 per barrel to break even, depending on the project.
8Non-Middle Eastern OPEC projects actually have a higher break-even price than US shale, requiring $40 to $100 per barrel.
Click on Reports for more Details
What are the implications of the "lower for much longer" LNG prices on the $5.19 billion tag paid by the ONGC-OIL combine to pick up a 20% stake in the Rovuma Area of Mozambique.
8A delivered LNG price of $4-5/mmbtu in India -- given that India is the preferred market for Mozambique gas -- will keep the project unviable for a very long time indeed unless there are technological breakthroughs that bring the cost of both offshore development and LNG liquefaction down dramatically.
8Independent estimates had claimed some while ago that the project will be viable only from the year 2025 onwards but it now looks like it will take longer to emerge from the woods given that Middle Eastern LNG, particularly from Iran, can compete at lower costs.
8On hindsight, did ONGC and OIL pay too high a premium for a block where the upstream development and the attendant LNG trains are yet to be constructed?
8Everyone is wiser on hindsight, but was there some kind of "deal" in the transactions considering that the duo had acquired the stakes from an Indian private sector entity?
Click on Reports for more Details
8A delivered LNG price of $4-5/mmbtu in India -- given that India is the preferred market for Mozambique gas -- will keep the project unviable for a very long time indeed unless there are technological breakthroughs that bring the cost of both offshore development and LNG liquefaction down dramatically.
8Independent estimates had claimed some while ago that the project will be viable only from the year 2025 onwards but it now looks like it will take longer to emerge from the woods given that Middle Eastern LNG, particularly from Iran, can compete at lower costs.
8On hindsight, did ONGC and OIL pay too high a premium for a block where the upstream development and the attendant LNG trains are yet to be constructed?
8Everyone is wiser on hindsight, but was there some kind of "deal" in the transactions considering that the duo had acquired the stakes from an Indian private sector entity?
Click on Reports for more Details
The RIL-BP duo are still working on the cost economics of developing their KG Basin discoveries.
8But it looks like the two are taking their time at arriving at investment decisions.
8First gas is projected to flow only after 2020, according to the latest projections made by BP.
8Availability of existing infrastructure makes the cost economics of the RIL-BP discoveries more attractive than that of ONGC in the adjacent KG-DWN-98/2 block.
8The targeted gas price from any of the development activities cannot be more than $5/mmbtu, and it should be perhaps less than this benchmark level, at the landfall point in Kakinada.
8Given that LNG prices are going to stay low, any price above the $5/mmbtu will be a challenge to deal with.
8The duo will also have to look at the cost economics of the entire venture, including contingent liabilities arising out of payments to be made to ONGC for diversion of gas and capital recovery efforts of the government.
8The new discoveries will have to make cash contributions to mitigate the contingent liabilities that may arise from the KG D-6 block.
8In any case, on an overall basis, the return on investment will be much lower from any further E&P activity for the RIL-BP combine from the KG Basin.
Click on Reports for more Details
8But it looks like the two are taking their time at arriving at investment decisions.
8First gas is projected to flow only after 2020, according to the latest projections made by BP.
8Availability of existing infrastructure makes the cost economics of the RIL-BP discoveries more attractive than that of ONGC in the adjacent KG-DWN-98/2 block.
8The targeted gas price from any of the development activities cannot be more than $5/mmbtu, and it should be perhaps less than this benchmark level, at the landfall point in Kakinada.
8Given that LNG prices are going to stay low, any price above the $5/mmbtu will be a challenge to deal with.
8The duo will also have to look at the cost economics of the entire venture, including contingent liabilities arising out of payments to be made to ONGC for diversion of gas and capital recovery efforts of the government.
8The new discoveries will have to make cash contributions to mitigate the contingent liabilities that may arise from the KG D-6 block.
8In any case, on an overall basis, the return on investment will be much lower from any further E&P activity for the RIL-BP combine from the KG Basin.
Click on Reports for more Details
The fresh 25-year LNG demand-supply projections, if they turn out to be true, will have serious implications for the Indian E&P industry.
8If LNG price stays low for the next 25 years as supply overwhelms demand, Indian domestic E&P industry will have to work on low break-even prices.
8Unless large volumes of cheap onland gas are discovered, offshore gas economics will be under severe pressure.
8ONGC has assumed a gas price of $6.9/mmbtu for a 15% return in its $ 5 billion KG-DWN-98/2 block. This is the gas price after skinning the project to its bone while trying to keep costs low.
8Given the treacherous geology and the company's inability to control time and cost overruns, will ONGC be able to stick to the $6.9/mmbtu limit?
8What if ONGC's costs go up and the delivered price of LNG stays fixed at $4-5/mmbtu?
8These are serious questions and it remains a moot point whether the ONGC brass has given enough thought to them.
Click on Reports for more Details
8If LNG price stays low for the next 25 years as supply overwhelms demand, Indian domestic E&P industry will have to work on low break-even prices.
8Unless large volumes of cheap onland gas are discovered, offshore gas economics will be under severe pressure.
8ONGC has assumed a gas price of $6.9/mmbtu for a 15% return in its $ 5 billion KG-DWN-98/2 block. This is the gas price after skinning the project to its bone while trying to keep costs low.
8Given the treacherous geology and the company's inability to control time and cost overruns, will ONGC be able to stick to the $6.9/mmbtu limit?
8What if ONGC's costs go up and the delivered price of LNG stays fixed at $4-5/mmbtu?
8These are serious questions and it remains a moot point whether the ONGC brass has given enough thought to them.
Click on Reports for more Details
Given the long projection period, there may be many surprises in the store for the LNG market going ahead.
8Changes in technology can bring down costs for liquefaction terminals and LNG transportation, allowing operations to be profitable at lower prices.
8Small scale FSRUs are expected to change the LNG landscape dramatically
8Disruptive price signals will emerge from a highly active spot market for LNG.
8Increasing pipeline supply will erode the demand for LNG to a big extent
8New markets and new users hold the key to the growth of the LNG market
8On the brighter side, the next 10-year projections show that South East Asia LNG demand could triple in the 10 year period.
Click on Reports for more Details
8Changes in technology can bring down costs for liquefaction terminals and LNG transportation, allowing operations to be profitable at lower prices.
8Small scale FSRUs are expected to change the LNG landscape dramatically
8Disruptive price signals will emerge from a highly active spot market for LNG.
8Increasing pipeline supply will erode the demand for LNG to a big extent
8New markets and new users hold the key to the growth of the LNG market
8On the brighter side, the next 10-year projections show that South East Asia LNG demand could triple in the 10 year period.
Click on Reports for more Details
Fresh 2040 demand-supply projection data seems to indicate that LNG capacity creation will stay ahead of demand.
8The creation of new liquefaction capacity will outpace demand in the long run
8This will keep the price of LNG lower for a much longer time span that was previously envisaged.
8The spike in LNG price in the early 2020s is unlikely to happen with fresh US supplies coming in.
8Iran will play a major role as a disrupter in the LNG market in the long run, the analysis shows.
8Given the big Iranian role, geo-political forces will be a keen determinant of how prices will behave well into the future.
8But one fact is given: LNG prices will remain under pressure for a much longer time than was previously anticipated.
Click on Reports for more Details
8The creation of new liquefaction capacity will outpace demand in the long run
8This will keep the price of LNG lower for a much longer time span that was previously envisaged.
8The spike in LNG price in the early 2020s is unlikely to happen with fresh US supplies coming in.
8Iran will play a major role as a disrupter in the LNG market in the long run, the analysis shows.
8Given the big Iranian role, geo-political forces will be a keen determinant of how prices will behave well into the future.
8But one fact is given: LNG prices will remain under pressure for a much longer time than was previously anticipated.
Click on Reports for more Details
The website carries here a business development opportunity for an 18 well onland exploratory development activity.
8The price tag has been pegged at Rs 710 crore
8The drilling time is going to be about 3 to 5 months per well
8The drilling activity is being undertaken as per obligations of the Minimum Work Programme under the NELP block
8RFQs are expected later this year
Click on Reports for more specific details Details
8The price tag has been pegged at Rs 710 crore
8The drilling time is going to be about 3 to 5 months per well
8The drilling activity is being undertaken as per obligations of the Minimum Work Programme under the NELP block
8RFQs are expected later this year
Click on Reports for more specific details Details
For reference purposes the website carries here the following tenders:
8Carrying out External Energy Audit of Petrochemical Complex, Pata [GAIL] Details
8Operation & Maintenance for processing well fluid and carrying out water treatment & injection, Western Offshore [ONGC] Details
8Comprehensive AMC for Emerson make UPS installed along with Jamnagar-Loni Pipeline for two years [GAIL] Details
8Carrying out Terminal works for Spurlines of Phulpur-Haldia Pipeline Project [GAIL] Details
8Supply and Commissioning of CFS & Pnuematic Piping, West Bengal [BPCL] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Over 25 lakh LPG connections released under PM Ujjwala Yojana Details
8Detailed feasibility study underway for setting up of Mega Oil Refinery on west coast of Maharashtra Details
8Pradhan pitches for cut in oil cess Details
8Low gas prices to fuel Essar Power’s 500 MW Hazira unit Details
8Total starts up Incahuasi gas and condensate field in Bolivia Details
8Brazil June oil, gas output hits record 3.21 mln bbl/day Details
8Oil edges higher in Asia but US crude stays below $40 [AFP] Details
8OVL plans to facilitate loans to PDVSA to recoup dividend payments Details
8First Tech Meet of Hydrocarbon Vision 2030 to begin tomorrow Details
8Indian Oil Corp to import Gasoline to End-Year: Report Details
8Oil market gains before US inventories Details
8India's July Iranian crude imports surge 21 pct to five-month high -trade Details
You can also click on Newsclips for more Details
8Carrying out External Energy Audit of Petrochemical Complex, Pata [GAIL] Details
8Operation & Maintenance for processing well fluid and carrying out water treatment & injection, Western Offshore [ONGC] Details
8Comprehensive AMC for Emerson make UPS installed along with Jamnagar-Loni Pipeline for two years [GAIL] Details
8Carrying out Terminal works for Spurlines of Phulpur-Haldia Pipeline Project [GAIL] Details
8Supply and Commissioning of CFS & Pnuematic Piping, West Bengal [BPCL] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Over 25 lakh LPG connections released under PM Ujjwala Yojana Details
8Detailed feasibility study underway for setting up of Mega Oil Refinery on west coast of Maharashtra Details
8Pradhan pitches for cut in oil cess Details
8Low gas prices to fuel Essar Power’s 500 MW Hazira unit Details
8Total starts up Incahuasi gas and condensate field in Bolivia Details
8Brazil June oil, gas output hits record 3.21 mln bbl/day Details
8Oil edges higher in Asia but US crude stays below $40 [AFP] Details
8OVL plans to facilitate loans to PDVSA to recoup dividend payments Details
8First Tech Meet of Hydrocarbon Vision 2030 to begin tomorrow Details
8Indian Oil Corp to import Gasoline to End-Year: Report Details
8Oil market gains before US inventories Details
8India's July Iranian crude imports surge 21 pct to five-month high -trade Details
You can also click on Newsclips for more Details
For reference purposes, the website carries here a special analysis of the new small and marginal fields under offer by India.
8A field wise analysis is given
8Policy reforms leading up the auction are also discussed.
8India has gone up a couple of notches in the global E&P Competitive Index as a consequence of the new liberalized policy environment.
8On a set of 21 risk parameters in 130 countries on which the index is based, India has made improvements in two of them from a five year perspective.
8Can India do more on improving its performance on the other 19 risk factors?
Click on Reports for more Details
8A field wise analysis is given
8Policy reforms leading up the auction are also discussed.
8India has gone up a couple of notches in the global E&P Competitive Index as a consequence of the new liberalized policy environment.
8On a set of 21 risk parameters in 130 countries on which the index is based, India has made improvements in two of them from a five year perspective.
8Can India do more on improving its performance on the other 19 risk factors?
Click on Reports for more Details
Click on our Reports section for an interview with PLL chief Prabhat Singh
8Singh speaks of building additional LNG capacity in India
8He also talks of other new terminals coming up in India and their impact on the Indian gas economy.
8Singh however admits that what is woefully short in India is not the number of LNG terminals coming up but lack of adequate gas evacuation infrastructure
Click on Reports for more Details
8Singh speaks of building additional LNG capacity in India
8He also talks of other new terminals coming up in India and their impact on the Indian gas economy.
8Singh however admits that what is woefully short in India is not the number of LNG terminals coming up but lack of adequate gas evacuation infrastructure
Click on Reports for more Details
What will be the impact of opening up of the Panana Canal route on India?
8India is not a direct beneficiary as its cargoes from the US will not use the canal.
8However US cargoes are likely to be competitive to other parts of Asia such as Japan and Korea
8These cargoes will bring Henry Hub indexed LNG into Asia in larger quantities, thereby correcting the preponderance of oil indexed shipments in the region.
8In an over supplied field, the arrival of another competitor will have a generally downward impact on LNG prices.
8India will benefit from such a development even though US cargoes may be too expensive for the country.
Click on Reports for more Details
8India is not a direct beneficiary as its cargoes from the US will not use the canal.
8However US cargoes are likely to be competitive to other parts of Asia such as Japan and Korea
8These cargoes will bring Henry Hub indexed LNG into Asia in larger quantities, thereby correcting the preponderance of oil indexed shipments in the region.
8In an over supplied field, the arrival of another competitor will have a generally downward impact on LNG prices.
8India will benefit from such a development even though US cargoes may be too expensive for the country.
Click on Reports for more Details
The first LNG ship passed through the expanded Panama Canal recently thereby dramatically altering the LNG supply dynamics in the world.
8The use of the canal to ferry large capacity LNG vessels will make the US one of the world's largest LNG suppliers by the end of the decade
8The Panama Canal will dramatically reduce voyage times for shipments between new LNG export plants on the US Gulf Coast and the major importing countries of Asia.
8Such shipments could now arrive in the major consuming countries of Asia in around 20 days, about 10 days fewer than the next-fastest route through Egypt’s Suez Canal.
8The Panama shortcut reduces delivery times for US gas supplies to Latin America as well,
8Chile for example will get US cargoes in as little as eight days, compared to 20 days via Cape Horn.
8The new route also shortens voyages from Trinidad and Tobago, another exporter of LNG, to growing gas-hungry cities around the Pacific, and opens up the possibility that Peru could supply consumers around the North Atlantic.
Click on Reports for more Details
8The use of the canal to ferry large capacity LNG vessels will make the US one of the world's largest LNG suppliers by the end of the decade
8The Panama Canal will dramatically reduce voyage times for shipments between new LNG export plants on the US Gulf Coast and the major importing countries of Asia.
8Such shipments could now arrive in the major consuming countries of Asia in around 20 days, about 10 days fewer than the next-fastest route through Egypt’s Suez Canal.
8The Panama shortcut reduces delivery times for US gas supplies to Latin America as well,
8Chile for example will get US cargoes in as little as eight days, compared to 20 days via Cape Horn.
8The new route also shortens voyages from Trinidad and Tobago, another exporter of LNG, to growing gas-hungry cities around the Pacific, and opens up the possibility that Peru could supply consumers around the North Atlantic.
Click on Reports for more Details
RFQs are expected for a Rs 440 crore, 22-well onland exploratory drilling programme soon.
8Drilling depth will be around 3500 metres
8The provisional Initial Inplace Reserves have been estimated at 30 BCM (O+OEG).
Well wise drilling programme information is carried here. Details are given on:
8Type of rig required
8Power requirement
8Drilling duration
8Quantity of drilling fluid needed
8Cuttings required per well
8Key project contacts are given here to enable easier communication by business development managers.
Click on Reports for more Details
8Drilling depth will be around 3500 metres
8The provisional Initial Inplace Reserves have been estimated at 30 BCM (O+OEG).
Well wise drilling programme information is carried here. Details are given on:
8Type of rig required
8Power requirement
8Drilling duration
8Quantity of drilling fluid needed
8Cuttings required per well
8Key project contacts are given here to enable easier communication by business development managers.
Click on Reports for more Details
For reference purposes, the website carries here the complete business development opportunity for a 11 well onland development drilling programme.
8The programme involves drilling of 9 wells and completion of two existing exploration wells
8The cost of the drilling programme has been pegged at Rs 550 crore
8The programme will be conducted in two phases of four and seven wells each
8There will be a Group Gathering Station (GGS) along with attendant ancillary facilities, the price tag for which has been estimated at Rs 72 crore.
8There total infield pipeline network, including connections to the GGS, will be around 150 kms
8RFQs are in the process of being floated.
Click on Reports for details of key contacts Details
8The programme involves drilling of 9 wells and completion of two existing exploration wells
8The cost of the drilling programme has been pegged at Rs 550 crore
8The programme will be conducted in two phases of four and seven wells each
8There will be a Group Gathering Station (GGS) along with attendant ancillary facilities, the price tag for which has been estimated at Rs 72 crore.
8There total infield pipeline network, including connections to the GGS, will be around 150 kms
8RFQs are in the process of being floated.
Click on Reports for details of key contacts Details
Indian public sector companies have mostly stayed away from looking at shale oil and gas opportunities abroad.
8M&A teams have been more focused on acquiring conventional resources.
8One reason for this is a lack of a proper understanding of the risks involved..
8Then again, the not-so-happy experience of RIL and GAIL with US shale gas assets has also come as a dampener.
8But no one can really ignore the opportunities either. The Chinese, for example, have splashed billions of dollars in acquisition of shale reserves not just in the US but across a host of countries where large resources have been discovered.
8For those who are interested, the website carries here an integrated and publicly available model for assessing risk in overseas shale gas investments. The purpose of this model is to address the index weight calculation involved in risk ranking.
8Comprehensive weights are obtained based on an analytic hierarchy process (AHP) and entropy weight methods. Subsequently; the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method is performed to rank target countries.
8Five categories of risks -- economic risk, political risk, geological risk, technological risk, and internal managements risk -- are investigated.
8Based on the risk identification, the assessment index system is established and valued.
8Chinese investments are taken as examples in this model to prove its effectiveness.
8According to the results, low-risk countries, such as Canada, Argentina, United States, and Algeria can be considered to be future key targets of shale gas investment abroad, while investors should be more cautious of high-risk countries such as South Africa and Brazil.
8Finally, policy recommendations are proposed to optimize the overseas shale gas investments from both the government and investor perspectives.
8This is a must read for policy makers both in the government and in companies such as ONGC, GAIL and IOC
Click on Reports for more Details
8M&A teams have been more focused on acquiring conventional resources.
8One reason for this is a lack of a proper understanding of the risks involved..
8Then again, the not-so-happy experience of RIL and GAIL with US shale gas assets has also come as a dampener.
8But no one can really ignore the opportunities either. The Chinese, for example, have splashed billions of dollars in acquisition of shale reserves not just in the US but across a host of countries where large resources have been discovered.
8For those who are interested, the website carries here an integrated and publicly available model for assessing risk in overseas shale gas investments. The purpose of this model is to address the index weight calculation involved in risk ranking.
8Comprehensive weights are obtained based on an analytic hierarchy process (AHP) and entropy weight methods. Subsequently; the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method is performed to rank target countries.
8Five categories of risks -- economic risk, political risk, geological risk, technological risk, and internal managements risk -- are investigated.
8Based on the risk identification, the assessment index system is established and valued.
8Chinese investments are taken as examples in this model to prove its effectiveness.
8According to the results, low-risk countries, such as Canada, Argentina, United States, and Algeria can be considered to be future key targets of shale gas investment abroad, while investors should be more cautious of high-risk countries such as South Africa and Brazil.
8Finally, policy recommendations are proposed to optimize the overseas shale gas investments from both the government and investor perspectives.
8This is a must read for policy makers both in the government and in companies such as ONGC, GAIL and IOC
Click on Reports for more Details
If and when the shale oil and gas revolution hits India, this website sees business development opportunities for:
8Use of "green" fracking fluids.
8Ground water measurement and protection services
8Advanced hydraulic fracturing and horizontal drilling services
8Advanced well completion services
8Produced water management services involving innovative technology
Those looking for future business prospects must hunt out specialist firms in the US and China involved in such work and then work with procurement teams in ONGC and OIL to push through new and innovative products and services, so that they eventually convert into tenders.
Click on Reports for more Details
8Use of "green" fracking fluids.
8Ground water measurement and protection services
8Advanced hydraulic fracturing and horizontal drilling services
8Advanced well completion services
8Produced water management services involving innovative technology
Those looking for future business prospects must hunt out specialist firms in the US and China involved in such work and then work with procurement teams in ONGC and OIL to push through new and innovative products and services, so that they eventually convert into tenders.
Click on Reports for more Details
India seems to be way behind countries such as the US, China and South Africa in the redevelopment of shale oil and gas exploration and development.
8Given that large land areas will be involved with a high requirement of water for hydraulic fracturing in an environment where water is scarce, a new layer of regulatory framework will have to be put in place to ensure public acceptance of shale oil and gas operations.
8Special measures for ground water protection will have to be in place as also a framework for safe use of chemicals and sand required for fracking.
8A public education programme will be a requirement, including the fact that fracturing essentially involves the use of fresh water mixed with sand and common, not dangerous chemicals which are used in table salt, detergent, cosmetics, washing soda, soap. deodorant and food additives.
8The use of "green" fracking fluids which are environmentally friendly are now being actively promoted in countries such as US and China.
8The current environment ministry norms may not be adequate to take into account public concerns and more regulations will have to be hammered into place.
8A full review will be needed of regulations covering well construction, water procurement, chemical use, flow back water and produced water.
8Special regulations for well design and hydraulic fracturing will be needed to protect ground water.
8The key to protecting groundwater is proper well construction, and detailed standards. There have been significant advances in drilling and construction techniques and these will have to be taken cognizance of when putting standards in place.
8Worldwide, the development of advanced hydraulic fracturing and horizontal drilling has been accompanied by safe and responsible water management strategies employing innovative technologies.
Click on Reports for more Details
8Given that large land areas will be involved with a high requirement of water for hydraulic fracturing in an environment where water is scarce, a new layer of regulatory framework will have to be put in place to ensure public acceptance of shale oil and gas operations.
8Special measures for ground water protection will have to be in place as also a framework for safe use of chemicals and sand required for fracking.
8A public education programme will be a requirement, including the fact that fracturing essentially involves the use of fresh water mixed with sand and common, not dangerous chemicals which are used in table salt, detergent, cosmetics, washing soda, soap. deodorant and food additives.
8The use of "green" fracking fluids which are environmentally friendly are now being actively promoted in countries such as US and China.
8The current environment ministry norms may not be adequate to take into account public concerns and more regulations will have to be hammered into place.
8A full review will be needed of regulations covering well construction, water procurement, chemical use, flow back water and produced water.
8Special regulations for well design and hydraulic fracturing will be needed to protect ground water.
8The key to protecting groundwater is proper well construction, and detailed standards. There have been significant advances in drilling and construction techniques and these will have to be taken cognizance of when putting standards in place.
8Worldwide, the development of advanced hydraulic fracturing and horizontal drilling has been accompanied by safe and responsible water management strategies employing innovative technologies.
Click on Reports for more Details
For reference purposes, the website carries here the latest CAG observations on RIL's KG-D-6 activities:
The following details are given:
8CAG's estimation of cost reversals on relinquishment of discoveries
8Exact estimates of gas diversion by RIL from ONGC's fields as given by DeGolyer & MacNaughton (D&M)
Click on Reports to know more Details
The following details are given:
8CAG's estimation of cost reversals on relinquishment of discoveries
8Exact estimates of gas diversion by RIL from ONGC's fields as given by DeGolyer & MacNaughton (D&M)
Click on Reports to know more Details
For reference purposes the website carries here the following tenders:
8Major Overhauling of Propane Compressor at LOB area, Haldia Refinery [IOC] Details
8Supply of Hydrochloric Acid, Digboi Refinery [IOC] Details
8Tender for Coil Tubing and Nitrogen Services for KG-OSN-2001/3 Block [GSPC] Details
8Development & Procurement of Demulsifier on Rate Contract Basis, Gujarat [GSPC] Details
8Carrying out Subsea Well Intervention Activity [ONGC] Details
8Procurement of Water Makers for Offshore Rigs [ONGC] Details
8Procurement of Charter Hire Drilling Rigs with suitable marine support for ultra shallow water [ONGC] Details
8Supply of Three Layer Polyethylene coated pipes for cross country pipelines, Mumbai [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Scientists recycle carbon dioxide to create usable fuel Details
8TMC slams govt for hiking PDS kerosene price Details
8Kuwait raises petrol prices by more than 80% Details
8Libya says ready to resume oil exports Details
8Coal India to supply blended fuel for import substitution at thermal plants Details
8Tanzania says plans to complete Uganda oil pipeline in 2020 Details
8Ministry not considering merger of 13 oil PSUs, clarifies Pradhan Details
8Oil rises 2 percent but oversupply concerns remain Details
8Firms identified for disinvestment in mineral, oil, metal, energy sectors Details
8Oil consumption growth likely to spike this fiscal year Details
8Oil Minister Pradhan favours lower cess for explorers Details
8Public-sector oil firms donate Rs 15 cr towards Assam floods Details
8CAG red-flags $1.6 bn excess cost recovery by RIL Details
8LNG buyers encouraged to rework deals amid global glut Details
8BP aims to increase gas from India’s KG-D6 fourfold by 2022 Details
You can also click on Newsclips for more Details
8Major Overhauling of Propane Compressor at LOB area, Haldia Refinery [IOC] Details
8Supply of Hydrochloric Acid, Digboi Refinery [IOC] Details
8Tender for Coil Tubing and Nitrogen Services for KG-OSN-2001/3 Block [GSPC] Details
8Development & Procurement of Demulsifier on Rate Contract Basis, Gujarat [GSPC] Details
8Carrying out Subsea Well Intervention Activity [ONGC] Details
8Procurement of Water Makers for Offshore Rigs [ONGC] Details
8Procurement of Charter Hire Drilling Rigs with suitable marine support for ultra shallow water [ONGC] Details
8Supply of Three Layer Polyethylene coated pipes for cross country pipelines, Mumbai [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Scientists recycle carbon dioxide to create usable fuel Details
8TMC slams govt for hiking PDS kerosene price Details
8Kuwait raises petrol prices by more than 80% Details
8Libya says ready to resume oil exports Details
8Coal India to supply blended fuel for import substitution at thermal plants Details
8Tanzania says plans to complete Uganda oil pipeline in 2020 Details
8Ministry not considering merger of 13 oil PSUs, clarifies Pradhan Details
8Oil rises 2 percent but oversupply concerns remain Details
8Firms identified for disinvestment in mineral, oil, metal, energy sectors Details
8Oil consumption growth likely to spike this fiscal year Details
8Oil Minister Pradhan favours lower cess for explorers Details
8Public-sector oil firms donate Rs 15 cr towards Assam floods Details
8CAG red-flags $1.6 bn excess cost recovery by RIL Details
8LNG buyers encouraged to rework deals amid global glut Details
8BP aims to increase gas from India’s KG-D6 fourfold by 2022 Details
You can also click on Newsclips for more Details
