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Aug 2016

April-June, 2016 data shows that Gujarat is the larger customer for PNG and CNG in the country.
8Its consumption during the quarter was 563 mmscmd
8Gujarat was followed by Delhi at 294 mmscmd
Click on Reports for more on state-wise CNG and PNG consumption data for the quarter.
8Ideally, the PNGRB should have given similar figures for the corresponding quarter of 2015, as that would have allowed for a comparison.
8The data collection and dissemination centre in PNGRB was opened recently. It has a lot of ground to cover on this area  Details
The website also carries here a detailed set of arguments made by RGTIL for a lowering of the capacity of its West West Pipeline on the basis of a fall in pressure of gas supplied from the KG D-6 block.
8The company is trying to argue against the proposition that a fall in pressure should not have a big impact on pipeline capacity.
8The pipeline capacity eventually has an impact on the tariff rate that is determined.
8RGTIL has taken all kinds of legal recourse to push through its point.
8PNGRB has now been told by the Appellate Authority to relook at the entire process of determination of capacity after RGTIL appealed for a lowering of the zone-wise capacities declared by the regulator in 2014.
8But will RGTIL finally gets its way?
Click on Reports to know more
8For reference purposes, the website carries here details of proposal that will make eliciting a gas connection easier for a household. Click on Reports for more
8For reference purposes, the website also carries here an assessment of the Tripura Natural Gas Company Ltd. Click on Reports for more Details
Another Rs 200 crore five well onland drilling programme is coming up.
8RFQs are likely to be out shortly.
8These wells are to chase a gas discovery found in the block.
The requirement of the following equipment has been spelled out:
8Rig type and capacity
8Power requirement
8Attendant complementary facilities
Clock on Reports for more Details
RFQs are likely soon for a three well onland drilling programme.
8The specification of the rig to be deployed is spelled out as also the well depth.
8The well formation is hydrostatic in nature as per data available from neighbouring wells.
8Water based drilling fluid will be used
Also given here are:
8The power requirement for the project
8Diesel consumption
8Solid handling system
8Drilling cuttings
Click on Reports for more Details
An international prediction model has been utilized to project the possibility that ONGC may go bankrupt unless the company is careful about its spending and dividend policies.
8The "Z" score model has been successfully used in the past to project bankruptcies in the oil & gas sector across the world.
8The "Z" score is obtained by using five financial ratios in a complex equation.
8If the score is below 1.8, it implies that a company is in the bankruptcy zone.
8While the score for ONGC has been healthy in the past, it has come down below 1.9 in the last three years.
8In fact, in 2014-15 and 2015-16, the score has come down to dangerous levels, to a mere 0.934 and 0.827.
8This dire projection needs careful reading by the ONGC and petroleum ministry brass. Attempts will have to be made to raise efficiency levels, cut bad debts in its subsidiaries, prune its dividend policies and use a host of other measures to improve its return on equity.
Click on Reports for more Details
A new DHDT unit along with a new FCC GDS unit are part of a proposal of an existing refinery to meet BS-VI specifications.
8RFQs are expected shortly.
8A new SRU block is also part of the programme.
8A new crude pipeline is also proposed along with larger storage facilities.
8There will be a requirement for additional internally generated power as well
8There will also be a need for additional steam, cooling water and effluent treatment facilities too.
8The cost of the project is around Rs 1000 crore
Click on Reports for more Details
Clearances are being sought for a 500 km product pipeline for an existing oil marketing company.
The requirement will be for:
8Line pipes
8Booster pumps
8Mainline pumps
8Hook up facilities
8Scrapper stations
8RFQs are likely soon
Click on Reports for more Details
For reference purposes, the website carries here a case made out by Gujarat on why it is the best state to set up a chemical or petrochemical complex.
8The incentives given have been spelt out.
8Investment opportunities available are elaborated
8Also given is a list of investors in the state
Click on Reports for more Details
The government has come out with a new financial incentive scheme for construction and upgradation of coastal berths and jetties.
8Incentives can go up to 50% of the total cost of the project subject to a maximum of Rs 50 crore.
Click on Reports for more Details
ONGC's ambitious Daman development project has finally come on stream.
8Production from its first well has begun last week.
8For reference purposes, the website carries here a full synopsis of the Tapti-Daman block and how, despite tough conditions, the block has transformed into a prolific source of gas in India.
8A peak gas rate of 10 mmscmd is anticipated
Click on Details for more Details
For reference purposes, the website carries here details of three offshore blocks of ONGC that will dramatically change the gas production matrix for ONGC
The projects are:
8C series Phase-1
8C-26 Cluster Project
8C-24 and B-12 projects
8Together these projects are meant to bring in a total peak gas of 17 mmscmd
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Annual Rate Contract for various Instrumentation jobs, Haldia Refinery [IOC] Details
8High resolution Intelligent Pig Survey and mapping of various pipeline sections [IOC] Details
8Carrying out civil works at drill site CHAQ in RDS area [ONGC] Details
8Purchase of Pressure Transmitters & Differential Pressure Transmitters [GAIL] Details
8Carrying out Intelligent Pigging of Tatipaka-Chichinada Pipeline, Rajahmundry [GAIL] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil edges back in Asia after sharp losses Details
8Diesel ban: Geete asks auto cos not to take 'panga' with courts Details 
8Australian state to permanently ban onshore gas fracking Details 
8India in focus for Norwegian expertise with natural gas Details
8IOC raises oil import from Iran to 5 MT for FY 2017 Details
8Oil ministry seeks uniform taxes on LPG for domestic, commercial use Details
8TCS and GE to revolutionise gas turbine manufacturing Details
8HPCL in $8 billion drive to boost oil refining margins Details
8State-run oil firms to form JV for jet fuel Details
8Indian Railways’ crude oil import and refining plan faces tax revenue hurdle Details
You can also click on Newsclips for more Details
For reference purposes the website carries here the following tenders:
8Carrying out Intelligent Survey of VSPL Line, Visakhapatnam [GAIL] Details
8Work Contract for laying of underground PE pipelines [GAIL Gas Limited] Details
8Global EOI for supply of Drag Reducer Additive Chemical for Ravva Block [CAIRN] Details
8Global EOI for Petroleum Engineering work over requirements in Ravva & CB-OS/2 Block [CAIRN] Details
8Procurement of Alloy Steel Pipe Fittings [MRPL] Details
8Providing services for driving, operating and up-keeping of Mobile Oil Spill Recovery Unit, Vadinar [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Indian Oil Q1 profit jumps 25%, to issue bonus shares Details
8LNG price slump sends Indian Oil Corporation on buying binge Details 
8Oil prices sink in Asia on strong dollar, output fears Details 
8India to be hit by eco crisis if oil price crosses $60: Swamy Details
8Oil falls towards $49 on high output, strong dollar Details
8Report on ONGC-RIL gas row to be submitted on Aug 31 Details
8Shell: Oil Markets to balance in late 2017 Details
8US set to derail India-Russia Oil deal Details
8Why Iran's infra push is good news for India Details
You can also click on Newsclips for more Details
A business development opportunity has arisen from a switchover by an existing refinery from using fuel oil to pet coke that is produced within the refinery.
8Of the two technologies available, the company has chosen the steam circulating fluidized bed combustion as the technology of choice
8Three LSTK packages are envisaged for the project
8The project will be implemented within a year and half from the date of LOA
8Project cost is around Rs 130 crore
Click on Reports for more Details
The PNGRB has acknowledged that simply on the basis of grant of authorization for a geographical area, an entity cannot charge exorbitant prices for gas to a customer who is already been getting its supplies from another seller located in an adjacent geographical area.
8The regulator is now mulling the consequences of a request by the buyer of gas for the right to be supplied gas via a  pipeline from the original seller of gas, even though it is not the authorized entity,  as the new entity has not yet put together a pipeline network yet in his geographical area.
Click on Reports to find out more. Details
For the first time, an econometric stimulation study has shown that price signals react faster in getting shale gas production to go up than conventional gas production.
8A 10% exogenous price shock can raise raise shale gas production by three fold in relation to conventional gas.
8The important point to note is that the drilling elasticity is the same for both conventional and shale gas at 0.7. This means that conventional gas investments are as responsive to price signals as shale gas investments.
8So what accounts for the difference?
8The key to that lies in the faster flow rate from shale gas wells!
Click on Reports to find out more. Details
A private urea company is planning a switchover from using naphtha to gas for the manufacture of more than 5,00,000 tonnes of urea annually.
8The switchover is required as per regulations issued by the Department of Fertilizers
8So there is a big business opportunity here for suppers of equipment and services.
8What is more, there is an opportunity for natural gas suppliers too as roughly 2,60,000 tonnes of naphtha and 120,000 tonnes of furnace oil are to be replaced with gas
8The demand for gas is likely to be in the region of  3.75 lakh tonnes per annum, both for use as fuel and feedstock
Click on Reports for more Details
A complex new study has established that time series projection of crude oil prices can lead to false results.
8This is because the daily crude market price data is characterized by what is called non-linearity.
8Importantly point to note is that this non-linearity is much more evident in crude price data even when looking at monthly time series data for crude oil than for stock markets.
8This implies that the usual linear models of projecting price trends show incorrect results.
8The energy market in fact is characterized not only by unpredictable exogenous shocks but also by multiple contingent claims.
8So there are ways to make money in unpredictable energy markets but the modeling has to be right for it
Click on Reports to find out more Details
Tanker freight rates posted a sharp decline in January and February, 2016 but rebounded in March and April
8But subsequently rates have shown a downward trend.
8In July, the rates across different tanker asset classes remained weak.
8In the VLCC market, rates went down a significant 27% MOM to $20000, aided by the deilvery of 23 VLCCs in the fist half of 2016, already equivalent to full-year deliveries for each of 2014 and 2015. Another 37 vessels are scheduled for delivery in the second half of the year
8Aframax, Suezmax and Clean categories too followed the downtrend, albeit at a slower pace.
8The YoY correction in the tanker market now is a steep 50%.
Click on Reports for more Details
Business development opportunities are available for equipment and service providers for the following projects:
RFQs are to be floated soon for:
8A terminal pipeline project
8Exploratory and appraisal 12 well coastal drilling programme
8Development of an SEZ
8Affluent treatment plants
Click on Reports for more Details
The Dredging Corporation of India (DCI) sees both new opportunities and fresh competitive threats coming up in India in the years ahead.
8The company has a big fleet made up of 12 trailer suction and 2 cutter suction dredgers and 1 backhoe dredger. These dredgers are capable of going down to 25 metre depth and compare with the best in the world.
8The dredging industry is growing rapidly in India and DCI wants to do better as new and more agile private players have entered the field.
8It is now in the process of  formulating plans to improve productivity and capture the growth potential not just in India but abroad as well.
Click on Reports to find out more Details
Halliburton has swung the deal for supply of mud engineering services using SOBM chemicals for a total of 190 offshore wells of ONGC.
8A total of five offers were received but Halliburton was the lowest
8There were in all five technically qualified bidders for the deal.
8The price differential between the various bids was not high but Halliburton grabbed the contract even though its cost of engineering services, including the cost of personnel, O&M of the mud plant and spare parts were higher than the L-2 bidder.
8Find out who were the other bidders and how Halliburton swung the deal
Click on Details Details
Well placed sources said that the rates quoted by bidders for the offshore mud engineering services job came as a big surprise for the ONGC brass.
8The bids were way lower than the internal reserve price estimate by ONGC.
8How did that really happen?
Click on Details to find out more Details
ONGC's new wireline logging services contract is till to be finalized even though the tender for onshore and offshore locations was floated in October 2015.
8Find out how much longer it will take to get to the NOA stage of the contract.
8It will take another 90 days from there on for mobilization.
8What are the reasons for the delay and when will the tender be finally awarded.
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Supply and laying new LPG pipe lines and associated jobs at LPG Bottling Plant, Ajmer [IOC] Details
8Rate contract for Pilferage Restoration & Maintenance Works in Mainline, Barauni Oil Refinery [IOC] Details
8Carrying out Shutdown Maintenance Jobs of Heat Exchangers and Miscellaneous Piping jobs, Haldia Refinery [IOC] Details
8EIA & RA study for BS-VI Fuel Quality Upgradation & New CDW Unit Projects, Haldia Refinery [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Now, Bengal awaits Adani's green gas biz Details
8Gujarat Refinery to invest 4,000cr for cleaner fuel Details 
8ENI shuts production, evacuates staff from Arctic oil platform due to power loss Details 
8Sale of Indian co to Russian energy giant hits US hurdle Details
8Japan pledges $30 billion for Africa over next three years Details
8Meet to chalk out NE’s hydrocarbon vision Details
8Cairn India, ONGC draw 10-yr roadmap for Barmer block Details
8India, US eye bilateral trade worth $500 bn: report Details
8ATF: Cheaper but still dear Details
8China, Pakistan may counter any Indian disruption to CPEC: South Asia expert Details
8L&T to scale up business in Southeast Asia, Africa to make up for losses in West Asia Details
8Oil faces GST conundrum Details
8ONGC hires consultant to assess reserves in GSPC KG gas block Details
8Gulf crisis has a silver lining Details
8The impact of India's first offshore LNG terminal Details
You can also click on Newsclips for more Details
For reference purposes, the website carries here the details of a three-well onland drilling programme.
8The cost of the programme has been pegged at Rs 100 crore
8RFQs are likely to be floated soon.
8The drilling location as well as the type of rig are specified
Click on Reports for more Details
Indraprastha Gas Ltd has proffered a Performance Bond of a massive Rs 1052 crore as guarantee for timely completion of its CGD project in a 1519 sq km area in Rewari
8On the other hand, Unison Enviro Pvt Ltd has put up a bond of a mere Rs 12 crore for setting up a CGD network over a 8276 sq km area in Ratnagiri
Click on Reports to figure out why there was such a huge difference between the two bonds Details
Also find out answers to the following questions about global LNG demand-supply forces.
8Will China have a big appetite for LNG? There are three different scenarios but LNG demand is unlikely to get a leg-up beyond a point from China as it has the option of pipeline supplies from Russia and Central Asia as well as the option of revving up its own domestic production
8Japan and Korea are unlikely to show an increase in demand
8That leaves demand to come in from new countries in the Middle East and Asia.
8Find out more about how the latest demand-supply paradigm looks like from the Indian point of view
Click on Reports for more Details
Forced to concentrate in the European market, GAIL will have to keep track of all kinds of competitors.
8And this includes moves by Gazprom which will react to threats of cheap LNG supplies from the US.
8Gazprom currently has oil-indexed pricing for its gas supplies to Europe but the Russian giant will be quick to change lanes should its market share come under serious threat.
8Russia's break-even cost of gas at the German border is calculated at just around $3.5/mmbtu but if the rouble remains low compared to the dollar, this price can be lower still.
8This is the kind of competition GAIL will face while dealing with the European market
Click on Reports for more Details
As a new entrant into the global LNG trading game, GAIL will also lack the technical expertise to maneuver cargoes into segments which can provider higher returns.
8Global players -- such as Shell  and Exxon Mobil -- will have a big advantage over GAIL.
8Theoretically, looking at forward curves of the U.K.Hub and Henry Hub and calculating the implied variable cost of U.S. LNG, it appears that UK hub prices are higher.
8By selling into the U.K. market, GAIL could recover not only their variable costs but also part of the liquefaction costs.
8But it will then have to act quickly and outguess its peers to be able to grab a market share in the UK.
8Does it have the expertise to do so?
Click on Reports for more Details
Projected losses for GAIL could be around $ 150 million per year for every million tonnes of contracted LNG.
8If the LNG price continues to hang low by the time GAIL's full offtake commitments from the US become operational, then all of the gas major's 5.8 MMTPA of LNG supply will incur that kind of losses.
8While GAIL has sold some of its commitments to third parties -- it is reported that it has contracted for sale of 2 MMTPA of LNG already -- the pricing is going to be a pass through.
8So in effect, total losses can go up to a staggering $850 million a year.
Click on Reports for detailed set of calculations Details
It is now longer a question of whether GAIL will lose or win from its deals for LNG offtake from US terminals.
8The question is how much money is it going to lose.
8The website has put together a comprehensive set of calculations -- including fully detailed global and European gas demand-supply projections -- to show that GAIL would just about recoup its variable cost while being forced to take the liquefaction cost component in the US LNG offtake deals as sunk cost.
8The projections are that at times, the cost recouped can go below these variable costs, depending on how shipping has been contracted and whether it can also be considered as a sunk cost.
8For the time being, Europe is the only place where GAIL can sell its cargoes -- as deliveries to Asia will be too expensive -- and its losses will depend upon how the spot price in Europe compares with these variable costs, assuming there is no intervention from Gazprom, the Russian monopoly supplier.
8A detailed set of calculations are carried here for our readers' reference.
8Average losses for GAIL is assumed to be around $2.3/mmbtu of gas. .
Click on Reports for more Details
It is important to separate hype from reality in the current auction of small and marginal fields, particularly for those in the North East of India.
8The website has spoken to reservoir engineers and geologists, both serving and retired who have worked in the North East, to piece together a not very flattering preview of the fields under offer.
8Almost none of the wells in these fields can be repaired or "worked over" and new wells have to be drilled.
8What is more, the underlying geology of most of these fields is 'complex' and the data will have to be "fully reinterpreted" to find meaningful production profiles.
8And it will be "very expensive" too.
8These fields are not for the faint-hearted, but only for those who have a large capital base and a big appetite for risk.
8A reasonable IRR cannot be guaranteed, those interviewed said.
8Clearly, at least in the North East, the prospects are less rosy than projected.
Click on Details for a more detailed perspective Details
Now that diesel prices are freed, oil marketing companies are making hay pushing their retail margins up.
8Most have reported up to 50% hike in margins.
8GRMs of course are beating forecasts, aided by inventory gains
8But if oil prices rise, will the party last?
8Is it a free for all from now on, or will the government step in, if retail margins are pegged too high by these companies?
Click on Reports for more Details
For reference purposes the website carries here the following tenders:
8Supply of Chemicals for Chemical treatment of tempered water and cooling water for KG-OSN-2001/3 Block [GSPC] Details
8Procurement of Analyzer System Integration Package for DHDS Unit, Gujarat Refinery [IOC] Details
8Procurement of transmitters as per technical specification, Digboi Refinery [IOC] Details
8EOI for Supply of Ethane [GAIL] Details
8Procurement of Mono Ethylene Glycol, Mumbai [BPCL] Details
8Procurement of Refilling of Calibration Gases, Assam [GAIL] Details
8Procurement of Spiral Exchangers, Kochi Refinery [BPCL] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Asia energy stocks hit by oil sell-off, eyes on Yellen Details
8Oil E&P stocks decline after fall in crude oil prices Details 
8ONGC spurts as its arm gets 1-year extension for exploring Vietnamese oil block Details 
8Indian Oil board to consider bonus shares Details
8Power, port assets to be included in Essar-Rosneft deal Details
8IOC bonus offer in pipeline Details
8Sanjeev Gupta hunts for mid-sized renewable energy projects in India Details
8IOC to invest Rs 650 cr in Tripura, send tankers via B'desh Details
8Petroleum ministry strengthening its exploration division with another joint secretary Details
8KG Basin cost GSPC 12 times estimate Details
8Engineers India extends gains after declaring strong Q1 results Details
You can also click on Newsclips for more Details
For reference purposes the website carries here the following tenders:
8Hiring of vehicles for pipeline construction activities in Maharashtra and Silvasa Region [GAIL] Details
8Procurement of Calibration Gases for Gas Chromatographs, Rajasthan [GAIL] Details
8Reconditioning of Hydrocom Actuator in HDT Unit, Guwahati Refinery [IOC] Details
8Procurement of Hydrochloric Acid, Bongaigaon Refinery [IOC] Details
8EIA & RA study for Extension of Koyali-Ahmednagar Pipeline to Solapur [IOC] Details
8Supply and Commissioning of Gas Handling System, Pata [GAIL] Details
8Annual Rate Contract for maintenance of Cathodic Protection System [GAIL Gas Limited] Details
8Providing Crude pipeline scheduling solution for Crude pipelines [IOC] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8China targets teapot oil refineries in tax crackdown - sources Details
8Pahal scheme enables Rs 21,261 cr savings Details 
8Sudan, S.Sudan agree to extend oil deal Details 
8Oil prices extend losses Details
8India’s crude production down 3 per cent in first quarter current fiscal Details
8HPCL board gives nod for Visakh Refinery expansion Details
8Interactive Meet for Discovered Small Field Bid Round 2016 held at Dubai, UAE Details
8Essar said to face asset sale challenge from IDFC private equity Details
8India's crude oil refinery output rises 7.7% in July 2016 Details
8OMCs shut biodiesel joint ventures due to lack of commercial viability Details
8Oil prices down in Asia, Brent stays below $50 Details
8NGT adjourns hearing over diesel vehicle ban case till Sept. 7 Details
8Asian countries remain top LNG importers Details
You can also click on Newsclips for more Details
Petroleum product consumption registered a growth of 3.9% during July, 2016 as compared to 8.0% growth during July, 2015. Except for Naphtha, SKO, Lubes/ Greases and Bitumen, all other products registered positive growth during July, 2016. During the period April-July 2016, petroleum product consumption registered a growth of 7.3% (4.3 MMT) as compared to the same period last year.
8Gross production of natural gas for the month of July, 2016 was 2,705 MMSCM which was higher by 3.3 % compared with the corresponding month of the previous year (2,619 MMSCM). The cumulative gross production of natural gas of 10,447 MMSCM for the current year till July, 2016  was lower by 3.8 % compared with the corresponding period of the previous year (10,862 MMSCM).
8LNG import for the month of July, 2016 was 1,960 MMSCM which was 3.8 % lower than the corresponding month of the previous year (2,037 MMSCM). The cumulative import of 8,092 MMSCM for the current year till July, 2016 was higher by 21.9 % compared with the orresponding period of the previous year (6,636 MMSCM).
8The prices of Brent crude averaged $45.10/bbl during July, 2016 as against $48.34/bbl during June,2016. Similarly, the Indian basket crude averaged $43.52/bbl during July, 2016 as against $46.96/bbl during the previous month.
8The import bill of crude oil is estimated to increase by 1% from $ 64 billion in 2015-16 to $65 billion in 2016-17 considering Indian basket crude oil price of $ 45/bbl.
Click on Reports for more Details
Indigenous crude oil production during July, 2016 was lower by 1.8% (57 TMT) than that of July,  2015. On overall basis, indigenous crude oil production was less by 2.9% (361 TMT) during April-July, 2016 in comparison with the corresponding period of last year.
8Total crude oil processed by the refineries during July, 2016 was 21,224 TMT against crude oil processing of 18,666 TMT in July, 2015 and a target of 19,276 TMT for the month of July, 2016. On cumulative basis, crude oil processed during April-July, 2016 by the refineries was 81,499 TMT against crude oil processing of 74,945 TMT during April-July, 2015 and a target of 79,024 TMT for the period April-July, 2016.
8Production of petroleum products during July, 2016 saw a growth of 8.0% (1,526 TMT) over the  corresponding month of the previous year and on a cumulative basis, growth of 8.5% (6,320 TMT) was recorded during April-July, 2016. Production of petroleum products exceeded the target for July, 2016 by 1,036 TMT (5.3%) while on cumulative basis production was higher by 2,558 TMT (3.3%) during the April-July 2016 period.
8Export of POL products increased during July, 2016 by 2.6% (136 TMT) as compared to July, 2015. Further, imports decreased by 13.2% (320 TMT) over the corresponding period of 2015. LPG, Lubes and Pet-coke imports contributed 84.9 % share of the total POL imports during July, 2016.
Click on Reports for more Details
The special shale gas study in India also compares the likely cost of production of shale gas in India in relation to the US.
8Costs in India are slated to be 2 to 2.5 times higher.
Among the problems that the Indian shale industry faces are: 
8Inability to explore with well boring activity
8Competition from alternative sources
8Water problem
These issues are examined in detail in the analysis
Click on Reports to find out more Details
A detailed analysis carried here by this website shows that shale gas resources in India have remained untapped due to lack of technological knowledge, expensive tools and technology, socio-political conditions of the country, lack of R&D facilities and inadequate funding.
8However, with the advent of new technologies and the growing energy needs coupled with appropriate market prices and policies make this the time right to explore and exploit this resource.
A detailed analysis of the shale geology has undertaken in the analysis for the following basins
8Cambay
8Krishna Godavari
8Cauvery
8Damodar Valley
8Upper Assam
8Vindhyan Basin
8Rajasthan Basin
Click on Reports to find out more Details
A report says that overall low gas prices and expectation of a slow recovery over the next five years will reduce the commercial attractiveness of high cost capital ventures Mozambique in the foreseeable future.
8The bright side however is that Mozambique received six successful bids in the recent fifth bidding round with participation of international oil majors with participation from international oil majors.
8This is a show of confidence in the local oil & gas sector despite the current downturn.
8Meanwhile, the government has approved ENI's development plans for the first phase of its Coral Floating Liquefied Natural Gas (FLNG) development in offshore Mozambique though a final investment decision (FID) has not been taken yet.
8Will it be possible then for the adjacent Anadarko Petroleum Corporation-led Rovuma Area-1 Block -- in which the ONGC-OIL consortium has made an investment of a massive $ 5.19 billion -- to see traction soon?
8Independent estimates had claimed not too long ago that the project would be viable only from the year 2025 onwards. There were yet others who said that it would take longer to emerge from the woods given that Middle Eastern LNG, particularly from Iran, could compete at lower costs than LNG from the Rovuma Area-1 Block.
Click on Reports to find out more on what's going in Mozambique Details
The outlook is bullish on Indraprastha Gas Ltd and most brokerage houses have a "Buy"  recommendation out on the company's scrip but the big imponderable is that the company's success is heavily dependent on government largesse.
8Volumes of gas sold, at 4.3mmscmd, rose 12% YoY and 5% QoQ (first quarter, 2016-17).
8The focus is on growth of the CNG segment. It registered robust 10% YoY volume growth led by higher private car conversions and mandated switch by diesel-based cab aggregators (Uber, Ola). Domestic PNG volume moved up 12% YoY and  industrial/commercial PNG was up 6%.
8Higher volumes of gas offtake ares expected in the future driven by addition of buses, conversion of taxis with all-India permits and more PNG coverage in households.
8Potential addition of the Rewari region could boost volumes by an additional 0.7mmscmd (~18%) over next 5 years.
8EBITDA margin also expanded sharply to Rs 6.7/scm (up 14% YoY, 24% QoQ) as the company kept the majority of the benefits of a 20% lower APM price from April 1.
8While enhanced competitiveness will drive CNG volumes growth, the key enabler will be the favorable policies announced by the Delhi Government and Court directives towards cleaner city gas. Aggressive plans by (Delhi Integrated Multi-Modal Transit to add buses under a cluster scheme will aid CNG volume growth. Acquisition of a 50% stake in Maharashtra Natural Gas (MNGL) and Central UP Gas (CUGL) will grant IGL entry into Pune and Kanpur and nearby areas with good growth potential.
8Also, the PNG business represents a long-term opportunity with low current penetration of around 17% in the domestic segment.
There are two imponderables however. One is whether the government will continue priority domestic gas allocation to the company. The other is whether the government imposes price control on account of priority allocation of cheap domestic gas. In that case the IGL may nit be able to retain the benefits of lower APM price like it did in the last round of price cuts.
Click on Reports for a detailed analysis Details
GAIL and HPCL are planning to set up a petrochemical complex in Andhra Pradesh based on imported ethane.
8To this effect, the gas major has invited EOIs for long term supply of ethane.
8What is being sought is the supply of 1.3 million metric tonnes per annum of ethane on DES basis for a period of 15 years in the east coast of India.
8Clear business opportunity is available not just for supply of ethane but for construction of a full fledged petrochemical complex
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In our ongoing series on ONGC's offshore rig tenders, the website carries here the recent example of how Dynamic Drilling got the rig rates wrong for its bid for a Anchor Moored rig in the public sector E&P major's last tender.
8The inability to estimate the reserve price of the rig set by ONGC and failure to grasp how the competition was likely to bid, ensured that the bid submitted for the rig Noble Max Smith by Dynamic Drilling was way off the the mark.
8Dynamic Drilling's estimates of keeping a rig working instead of cold stacking were flawed, or else there could not have been such a big rate differential with its rival in the tender.
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Despite falling rig rates and surfeit of surplus rigs, ONGC has been unable to get enough competition in its offshore rigs tender
8Is it because the company's tendering and exclusion criteria are flawed?
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   Details
For reference purposes the website carries here the following tenders:
8Supply of valves for DHT Project, Mumbai Refinery [BPCL] Details
8Expression of Interest for Monetization of onland stranded gas assets in India [BPCL] Details
8Procurement of Caustic Soda Lye, Bongaigaon Refinery [IOC] Details
8Supply of Remote Seal Level Transmitters, Bongaigaon Refinery [IOC] Details
8Consultancy Services for DFR Preparation and EPCM Services for setting up of Catalyst Plant, Panipat Refinery [IOC] Details
8Providing of testing facility pipeline for wells inside KJ#3 well site existing manifold at Ramnad GCS area [ONGC] Details
8Installation of new Casings over 16 inch main pipeline, Jorhat [OIL] Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8PNG LNG partners look to multi-year spot cargo deals Details
8Egypt plans to end fuel subsidies within three years Details 
8PSU oil firms question Adani’s plan to set up Dhamra LPG terminal and pipeline project Details 
8HPCL shares slip nearly 5% post Q1 results Details
8Oil prices fall as analysts say market still oversupplied Details
8ONGC signs pact with GE for exploratory drilling support over three years Details
8ONGC Videsh Ltd gets 1-year extension for exploring Vietnamese oil block Details
8HPCL, GAIL to divest up to 50% stake in petrochem plant in Andhra Pradesh Details
8ONGC backing Indian oil and gas innovators Details
8Energy stocks hit in Asia as oil sinks, dollar weak Details
8Mumbai Oil Spill: NGT orders Delta Shipping to pay Rs 100 cr Details
8Iraq asks foreign oil companies to increase crude production, exports Details
You can also click on Newsclips for more Details
It is not necessary for a rig to go off-tender after its hire period is over in ONGC.
8It can be continued to be deployed in ONGC for additional work or to continue with unfinished work.
8More often than not, ONGC's rig deployment scheduling is defective and there is a mismatch between acquisition and requirement.
8This means that a rig can stay on even after the contract period is over.
8But the rig rate will be renegotiated to current rates
8Companies such as Transocean who have been in the rig game in India have mastered the art of keeping their rigs deployed for long periods in India.
8It is just pure gaming of the system: that is the mantra.
8Those who know the system well, end up enjoying the fruits of their knowledge.
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For reference purposes, the website carries here an on-land 20-well development drilling programme.
8RFQs are likely soon.
8The drilling programme will be accompanied by attendant production and infield pipeline networks.
8The pipeline sizes will be in the range of 4 to 6 inches.
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Despite the government's attempt to push LPG usage deep into rural areas, repeated studies have shown that the LPG absorption capacity of very poor rural households is extremely limited.
8A one time subsidy can perhaps enable a poor household to buy a cylinder once but can it afford a refill even at subsidized rates?
8The answer is a firm "no" for very poor households.
8It is already a well known fact that the LPG subsidy is now cornered by affluent households.
8The big challenge for the government is to wean affluent households away from subsidized LPG and raise the levels of subsidy to the really needy and deserving in rural areas.
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Deep Industries is one small company which has hit home with its gas compression, gas dehydration and onland drilling rig businesses.
8Revenues in Q-1 are 17.33% higher on Q on Q basis and 136% on year on year basis.
8EBITDA margins across its verticals are in the range of 55-58%.
8This is a business model that other companies can follow as there are good business development opportunities available. 
8Deep took advantage of the surge in demand for gas dehydration units subsequent to the GAIL gas pipeline accident and the consequent attempt to eliminate wet gas from the Indian pipeline industry.
8The company started off with the gas compression business and it is a market leader in this segment.
8Currently, Deep is sitting on orders worth a whopping Rs 845 crore from all three business segments.
8The company also has a CBM block, among a couple of other conventional blocks, which is now valued at a Rs 350 crore.
8The company brass believes that the gas compression and dehydration businesses will see growth in the coming months. New tenders are in the offing for onland drilling contracts as well.
8This is one small company which is now growing big. Time for others to emulate its success.
Click on Reports for more on the kind of segment margins that Deep is raking in. Details
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