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Oct 2016

The following is an update on the Indian LNG scenario in August:
8Dahej utilization in August was at 129% and Hazira at 92%; Dabhol received nil while Kochi received a single LNG cargo in August.
For reference purposes, the website carries here the following analysis:
8August 2016 LNG tanker arrivals and related statistics show that the average utilization of the Hazira terminal has gone up
8The netback LNG realization of exporters from Asia and Europe markets in August imply that arbitrage opportunities are open for West African and South American exporters for delivery to Asia instead of Europe on falling Europe prices.
8Then again, LNG exports from the three Australian liquefaction plants (Australia Pacific LNG,Queensland Curtis LNG and Santos GLNG) located on Curtis Island off Gladstone reached a record high level in August. Most of the August LNG exports went to China, followed by Singapore, South Korea, Japan, Malaysia and India.
8Qatar's exports were down on weak demand from South America.
8There is surplus LNG shipping capacity available
Click on Reports for more Details
For business development managers, the website carries here the latest update on City Gas Distribution (CGD) networks in India.
8Of the 78 geographical areas where city gas distribution setups have been authorized, many are "under construction"
8These are places where opportunities can be delivered for CGD equipment and services.
8The data is updated as on October, 2016
Click on Reports for more Details
A 750 crore business development opportunity has come up for a gas pipeline.
8150 km of 18” pipeline along with connectivity to anchor customers with attendant spur lines from existing domestic gas fields is to be built.
8There will also be a requirement for sectionalizing valves and intermediate pigging stations
8There will be tap-off points for anchor customer enroute.
8A compressor station will be installed.
8Installation of custody transfer metering facilities for anchor customers at their premises is part of the project.
RFQs are not out yet
Click on Reports for more Details
Who should pay if a consultant has to be paid for extra time spent on a project when an LSTK contractor is behind with his project schedule?
8There was a move within ONGC to get the extra money paid from out of the earnings of the LSTK contractor.
8But there were others within the company who were opposed to this view, according to our sources.
Find out what was eventually decided by the company.
   Details
A $ 100 million budget for consultants for the KG-DWN-98/2 means that ONGC is going to bring a lot of consultants on board as the project moves on.
8The budget for hiring Intercsea for the Owner's Engineering Consultant is a mere Rs 130 crore.
8A clutch of other consultants have been appointed but a large chunk of the Rs 670 crore budget is still left unspent
8Intercsea has a big say in the determination of specifications and cost estimates but ONGC's Eastern Offshore Asset and a recently appointed $ 2500-per-day freelance consultant, who will be the man of all seasons for ONGC, are working in tandem too.
8The consultant will work out of Mumbai but his job involves extensive global traveling.
8It is important for equipment suppliers and service providers to stay in contact with key decision makers in ONGC's Eastern Offshore Asset, along with the consultant who has been appointed and executives of Intercsea, both in Houston and Malaysia.
Click on Details to find out more on what is going on inside the project. Details
An exercise to narrow down the cost estimates for the KG-DWN-98/2 project is in progress by an ONGC multi-disciplinary team in tandem with its consultants.
8Fresh RFQs are being sent out by ONGC to equipment suppliers and service providers to arrive at a 30% accuracy mark and this figure will be drilled down further.
8As a equipment and service provider, have you been sounded out?
8If not, then it is high time you begin calling up ONGC to find out when your turn is going to come next.
8These initial probes are crucial for suppliers and it is necessary to stay in the loop.
8Business development managers must be in the grove from now on until tenders are floated.
8Or else it will be just too late, if mangers are going to wait for the tenders to come out before putting in place their pricing and marketing strategies for this $ 5 billion project.
Click on Details for more Details
A recent report seems to suggest that ONGC's KG-DWN-98/2 block may not be viable at the current level of gas prices.
8An exercise is currently on to knock down the breakeven cost of gas from the block.
8ONGC however has limited options in pushing suppliers down beyond a point as it has already undertaken a drastic cut of the project cost from the earlier price tag.
8Prices have fallen a little more from when the new estimate was made some months ago but not by too much.
8The big cuts have already happened, even though in some segments, prices continue to be in free fall.
8The ONGC brass will have to think dramatically out of the hat to bring down the price line further beyond this point
8But will it?
8Find out what ONGC can do from here on with the project Details
For reference purposes the website carries here the following tenders:
8Hiring of Services for Welding, Rigging, other miscellaneous activities for DDW1 Platform, Process cum Living Quarter Platform and Onshore Gas Terminal, Andhra Pradesh Details
8Inspection & Emergency Repair Jobs for Onshore Pipeline at Kakinada for KG-OSN-2001/3 Block Details
8Supply of Temperature Calibrator, Rajkot Details
8Supply of Pressure & Temperature Gauges, Gujarat Refinery Details
8Consultancy Service for estimation of Plant Cost of Residue Hydrocracking Unit, Mathura Refinery Details
8Supply of Pressure Transmitter & Differential Pressure Transmitter, Digboi Refinery Details
8Annual Rate Contract for OFC Restoration works in Mainline, Chennai Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8Iran, Pakistan discuss cooperation on CPEC Details
8Pradhan launches LPG scheme PMUY in Maharashtra Details
8Essar nears sale of $6.5bn refinery arm to Rosneft Details 
8Rouhani urges Malaysia to invest in Iran's oil, gas Details
8OIL gets green nod for Rs 220cr drilling project in Jaisalmer Details
8We are using extra tax from fuel to develop infra: Dharmendra Pradhan Details
8Bharat Petroleum plans to raise $500 million through bonds or ECB Details 
8Oil: inventory gains boost refiners’ margins Details
8Gas pipelines: Fuelling India’s economy Details
8LNG shipbuilding: it’s now or never Details
8Petronet LNG stock fuelled by better demand outlook Details 
8India to increase regasification capacity by 21 million tonne Details
You can also click on Newsclips for more   Details
The newbuilding market continued to stay depressed
8The reality is that despite some spikes in tanker ordering here and there, the dramatic fall in dry bulk contracting over the past couple of years has had a hugely negative impact on the industry, the kind of impact that cannot be rectified by any small pick-up in activity that takes place in tanker sector.
8It is highly unlikely that dry bulk ordering will move into higher volumes in the next couple of years, given the overcapacity in the sector together with the fact that modern second-hand tonnage is expected to still be offered at very attractive prices at least for as long as rates are still flirting with OPEX levels, while even when recovery does take place, it is hard to believe that the appetite for newbuildings will return immediately.
8In terms of recently reported deals, Greek owner GasLog has placed an order for 2 firm LNG carriers (180,000cbm) on Samsung in S. Korea for a price in the region of $ 190 million and delivery set in 2018.
Click on Reports for more Details
The positive momentum in the crude carriers market was further extended last week with rates for most routes enjoying substantial upside on the back of stronger activity that has finally started giving back owners some of the confidence lost earlier.
8Following a couple of weeks of robust activity, it seems that VL rates in the Middle East have now started to enjoy a significant upside, as a busier market in the previous days has eventually cleared up substantial tonnage from the region, while the West Africa market also got a substantial boost amidst improved sentiment.
8The West Africa Suezmax eased a bit last week with enquiry levels remaining healthy nonetheless, while the Black Sea/Med region enjoyed further upside with brokers now feeling that momentum has probably reached a peak somewhere around current levels.
8The Aframax market was a bit split last week, with Baltic and North sea rates ripping the benefits of improved activity, while cross-Med and Caribs rates suffered from too much tonnage
competing for business in both regions.
Click on Reports for more Details
Oil marketing companies are expected to face nil under recovery up to the crude oil price range of $55-60/bbl on kerosene production because of the gradual increase in its price.
8Then again, on account of the monthly hike in subsidized domestic LPG prices,  PSU oil companies would be exempted from the LPG subsidy burden up to $65/bbl
8But the outlook for the Indian E&P sector is negative because of low crude prices and even lower gas prices
Click on Reports for more Details
The E&P industry can take heart from the statement recently released by BHP Billiton, the world's largest mining company, that its E&P business will provide the "highest return" from amongst its portfolio of assets.
8The company's emphasis is on value rather than volume.
8The announcement said that its brownfield E&P developments are capable of providing a 45% return on investment, the highest among all its mining assets.
Find out more on why BHP Billiton is bullish on the oil industry. Details
For reference purposes, the website carries here an analysis of Estimated Greenhouse Gas Emissions per Barrel From 75 Global Oils
8The analysis shows that Canadian and US heavy oils are among the world's worse emitters of carbon
8The lowest emitters are some Kazak, and US shale varieties
8Downstream emissions are significantly lower across these categories
8Calculations have also been made of Estimated Greenhouse Gas Emissions per Unit of Energy in Petroleum Products From 75 Global Oils
8The differential in this calculation too is very wide.
Click on Reports for more Details
Now that India has become a signatory to reducing carbon emissions, Indian E&P companies and refineries will eventually be asked: “How could refinery investments shift in a world pushing for rapid GHG emissions reductions?” and “How can our exploration and development plans minimize climate risks to future production portfolios?”
8In this context, data transparency must become the new normal.
8Assessing all currently produced crudes (as well as prospective resource opportunities) will only be possible with more open-source industry data on upstream operations, oil assays, refinery characteristics, and product logistics.
8Refineries may be forced to switch away from high sulphur crude or heavy crude as emissions levels from them are higher.
8Complex refinery infrastructure has been built to take advantage of the price differentials between heavy and sweet crudes but this will evaporate once the cost of emission is also taken into account.
8As a consequence, the cost differential between low and high emitting crude oils will also widen. 
Click on Reports for more   Details
The study has calculated green house emissions emanating from 75 different types of crude oils covering about 25% of the global production.
8The results have thrown up some surprises.
8Upstream and midstream emission of GHG-equivalent emissions per barrel of crude oil can vary by a factor of ten from lowest to highest emitting crude grades.
8Then again, downstream emissions for the highest-emitting crude categories are about 50 percent larger than for the lowest-emitting varities.
8If associated gas is used or sold instead of flared or vented, the high end of the emission range can be 80 to 90 percent higher than the low end.
Click on Reports for more Details
What is now being promoted is a crude centric approach.
8And here are some of the advantages of the crude-centric approach
8It allows for a more accurate assessment of the climate risks to producers of barrels of reserves in the ground and refiners of particular oils, with specific focus on extra-heavy oils, gas-rich oils that flare associated gas, depleted oils, remote oils, and oils in environmentally sensitive ecosystems.
8It permits a more comprehensive and readily updated tracking of total oil sector GHG emissions than a product-centric approach, and creates new options for innovative policies.
8It creates opportunities for producers, refiners, transporters, investors, commodity traders, policymakers, and consumers to reduce emissions throughout the oil supply chain.
Click on Reports for more Details
The centre of emphasis for carbon emission control is now moving away from emissions resulting from petroleum products sold to end users, such as gasoline and diesel fuels.
 8Instead the focus is on the kind of crude oil that is used in the manufacture of petroleum products.
 8A new study shows that the attention on petroleum products for emission control is misplaced for the following reasons:
Poor boundary choices: Focusing on transport fuels means that these analyses often did not track all carbon in the oil barrel and so missed co-products, including petrochemical feedstocks, asphalt, petroleum coke (also known as petcoke), and other residual fuels.
Using averages that did not capture the full range of observed variability in emissions: All analytical techniques (especially those used in estimating “typical” emissions) use averages, but some averaging reduces accuracy. Most calculations of end-use petroleum product emissions rely on average characteristics for upstream production and midstream refning emissions, implicitly assuming that there is little variation in such emissions (which is not necessarily true).
8The attention now is on a crude-centric approach  that analyzes emissions for a barrel of oil from a particular oil field, considering all products from each barrel as well as the entire supply chain from upstream production and crude transport, to midstream refining, to downstream product transport and end use.
8The power of this approach is its ability to target where in the supply chain emissions occur and to identify differences in emissions associated with different types of crude oil, which can be substantial.
Click on Reports for more Details
The Supreme Court has set aside a challenge to the constitutional validity of  The Petroleum and Minerals Pipelines (Acquisition of Right of User in Land) Act, 1962.
8The Court has rejected the claim that the Act allows only public sector companies land not private companies such as RGTIL to acquire land.
8The Court also did not uphold the argument that a time limit be framed for provision of compensation for acquisition of land as no such limit is currently specified in the Act
8Then again, the SC set aside the plea that the methodology of computation of compensation as specified in the Act is invalid and against the provisions of the constitution.
8The Court however found merit in the argument that the Competent Authority must be a qualified person and should be someone who is holding or has held a judicial office not lower in rank than that of a subordinate judge or is a trained legal mind.
Click on Reports for more Details
Gas generators and engines on ONGC's platforms are big and costly machines.
8The company is soon expected to initiate discussions with equipment suppliers for replacement of up to seven old gas generators in its Western Offshore asset.
8Since the generators are old and so are the platforms, the discussions will focus on how exactly the generators can be replaced during the ongoing repair and refurbishment of old platforms, well placed ONGC sources told this website.
8RFQs will be issued subsequently.
Click on Details for more information  Details
Who are the key contacts within ONGC looking at the replacement of the gas engines?
8Targeting the right people is important for a business development manager.
8There are limited gas engine suppliers and it is a closed club but nevertheless, it is important to know what is developing on the business development front.
Click Details for more Details
When will repair and overhaul of gas generators and engines on ONGC's platforms going to go the rate contract way?
8Not so quickly, according to sources.
8There are problems that Original Equipment Manufacturers seem to have over warranty clauses and some conditions involving the Integrity Pact.
8But progress has reportedly been made of late and it is likely that the deals are going to be wrapped up soon.
Click on Details for more. Details
For reference purposes the website carries here the following tenders:
8Procurement of Ultrasonic Flowmeters, Haldia Refinery Details
8Laying and Replacement of Gas Pipelines, Duliajan Details
8Carrying out Pipeline Jobs and Modification of Loading/Unloading Pipelines and other allied Jobs, Maharashtra Details
8Supply of spares for Feed Gas and Tail Gas Analysers Details
8Re-Routing of Gas Pipelines, Duliajan Details
8Unloading and loading of Catalysts of HGU reformer, HT & LT Shift reactors, Bongaigaon Refinery Details
8Procurement of Naphtha for Panipat Naphtha Cracker Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8Expect Cairn-Vedanta merger by this fiscal-end: Anil Agarwal Details
8ONGC, OIL earnings to take Rs 2,000-crore hit from gas price cut Details
8Sri Lanka to build second refinery jointly with India Details 
8BP India gets license to sell jet fuel in India, says company Details
8BP Plc gets licence to set up 3,500 petrol pumps in India Details
8ONGC to pick stake in Gujarat State Petroleum Corp’s KG basin block Details
8LNG prices enjoying seasonal gains, but joy may be short-lived: Russell Details 
825,000 PNG connections in store Details
8Oil India shares up nearly 3% Details
8Bokaro administration to help ONGC acquire land for expansion Details
8India to set up LNG terminal, City Gas network in Sri Lanka Details
8BP to sell petrol and diesel in India Details
8ONGC and Oil India chafe at decrease in gas price Details  
You can also click on Newsclips for more   Details
China’s political leadership has turned onto a path of nationalism and cult of leadership personality that threatens to blunt the formidable technical competence resident in the top ranks of China’s leadership.
8There is now increasing fears that local and corporate vested interests’ resistance to central edicts aimed at re-balancing the Chinese economy could actually perpetuate further political dysfunction, reduce clarity and certainty, and ultimately deepen China’s structural economic challenges in ways that depress oil demand growth.
8Added to this is the fact that China is graying faster than it is getting economically developed and this has implications for oil demand.
8In an environment of slower overall global growth, rising pressure from monetary policy distortions, and a turn to populist and nationalist politics in many key economies (arguably including China), the potential for a significant near-term demand shock should not be underestimated.
8The bottom line is that China was a primarily upside risk factor in the oil markets for much of the past 15 years, but now presents a complex combination of continued demand growth potential, that risks being offset by increasingly significant latent downside risks.
Click on Reports for more Details
Bangladesh can provide a good business development opportunity for Indian companies
8But the country is fraught with significant political risk. The possibility of a regime inimical to the interest of India coming back to power is a clear detriment to looking at the country from a long term point of view by the private sector.
8So for the time being the public sector is taking all the risk, prodded by the central government.
Among the highlights of the cooperation are:
8Numaligarh Refineries Ltd (NRL) and Bangladesh Petroleum Corporation (BPC) have agreed for supply and purchase of HSD for a period of 20 years through the proposed Indo-Bangla Friendship Pipeline between Siliguri and Parbatipur. Both sides are working on details of the pipeline project, including its financing.
8There is now a proposal to set up an LPG import terminal at Chittagong by Indian Oil Corporation Ltd (IOCL) and its onward transportation by road to its Tripura bottling plant
8There is a proposal for an onshore LNG Terminal by Petronet LNG Ltd (PLL) in Kutubdia Island near Chittagong. PLL is finalising an MoU with Petrobangla on setting up of the LNG terminal.
8The two countries are also discussing the possibility of supplying gas through a pipeline from Dhamra LNG Terminal which is under construction to Bangladesh via Duttapulia in West Bengal.
8PMC is currently being carried out by Engineers India Ltd (EIL) on the expansion of Eastern Refineries Ltd, Chittagong.
8Meanwhile, Padma Oil Company (a subsidiary of BPC) had selected EIL for conducting a feasibility study for a multi-product pipeline from Chittagong to Dhaka (270 KM)
8India has promised help to Bangladesh for setting up of network for supplying LPG to high-rise buildings and apartments, cooperation in the field of bio-fuels and training of its personnel in the
hydrocarbon sector.
Click on Reports for more  Details
An LNG cargo has landed in Dahej this week and the price is pegged at $5.92/mmbtu.
8Clearly this is not a representative price for cargoes out of the US as is being brought in on an experimental basis at low cost.
8Assuming a fixed processing cost of $3/mmbtu -- as per agreements between US LNG terminals and offtakers -- the cargo clearly does not cover variable costs at all.
8In comparison, two rich and lean gas cargoes have come in from RasGas at around $ 6.80/mmbtu
8Clearly, Qatar seems to have a monopoly on both volumes and prices in what is evidently a captive Indian market.
8Qatar's cost of production is very low and while other LNG suppliers struggle, the country makes a lot of money from out of its high priced cargoes to India
8At some point this stranglehold will have to be broken.
Click on Reports for more Details
LNG import between April-August, 2016 grew by an impressive 25%
8Around 48% of the total LNG import in August, 2016 was from Qatar, 16% from Equatorial Guinea, 12% from Nigeria, 8% from UAE and 4% each from Australia,
Algeria, Peru and Trinidad & Tobago.
8Total natural gas consumption (net production of domestic gas + LNG import) was higher by 8.54% for the current financial year up to August, 2016 in comparison to the corresponding
period of the previous year.
Click on Reports for more Details
The fertilizer sector was the largest consumer of gas in August, 2016, amounting for 42.22% of the consumption of 138 mmscmd
8This was followed by the power sector at 32.82%
8City gas made up nearly 20% of the total consumption
8Industrial sector consumption was low at a mere 1.82%
8Petrochemial, refineries, internal consumption, LPG shrinkage and other miscellaneous heads combined to consume around 40% of the total gas supply in the country.
Click on Reports for more Details
Gross gas production for the month of August 2016 was 2674.16 MMSCM, going up by 5.71 % over the corresponding month of the previous year.
8Total import of LNG in August was 2144.19 MMSCM, an increase of 34.61 % over the corresponding month of the previous year.
8Total consumption was 4226.07 MMSCM which was an increase of approximately 10.74 % over the corresponding month of the previous year.
8Total consumption by fertilizer, power, petrochemicals, sponge iron, refinery and other sectors for August was 138.05 MMSCMD.
Click on Reports for more Details
RFQs have not been issued for a Rs 500 crore augmentation of LPG import facilities by providing additional twin pipelines on on top of an existing twin pipelines jetty and an addition of 22000 MT of refrigerated storage tanks along with a propane-butane blending system and associated refrigeration facilities.
Among the offsites needed would be:
8Cooling Tower - 600 M3/Hr
8Mercaptan Dosing System
8Fire Fighting System
8Air compressor with drier and associated receivers
Click on Reports for more Details
The other important trend with China is that a combination of slowing domestic middle distillate demand and substantial new refining capacity coming online is making China into one of the world’s largest refined products exporters.
8In April 2016, China’s net exports of gasoline and diesel fuel flirted for the first time with the 500 kbd mark, on par with the net product export numbers from Saudi Arabia.
8New data suggest China’s shift to becoming a major net exporter of oil products is one that will endure for years to come.
8The durable shift to higher net refined product export volumes and the fact that these volumes have come to occupy a larger share of crude feedstock put into Chinese refineries suggest a
watershed moment has occurred.
8In essence, China has almost certainly structurally overbuilt its refining system and is now effectively exporting that overcapacity to the world market in the form of gasoline, diesel, and other refined products.
8This will have implications for Indian refineries
Click on Reports for more Details
China today holds the key to how oil prices are going to behave between now and 2020.
8The "new normal" is that Chinese appetite for petroleum products has slowed down.
8Under a low-growth case, oil products demand slows to an average annual growth rate of 1.9% between now and 2020.
8Coupled with declining oil consumption in the Euro zone and stagnant consumption in the Americas and developed Asia, such a Chinese slowdown would exert powerful downward pressure on global oil demand and could potentially push prices below $45/bbl on a sustained basis for the next several years.
8Conversely, under a high-growth scenario, China’s oil product demand would grow by an average of 5.4% between now and 2020, with demand reaching 15.5 million barrels per day
by the end of 2020, with a resulting upward pressure on oil prices.
Click on Reports for more Details
The old days are now gone.
8You do not take on ONGC through the judicial process and then go on to win the battle with the company.
8A no-nonsense, don't-mess-with-us attitude is now increasingly prevalent among the ONGC brass these days.
8This mood was best exemplified when it came to dealing with the Gurgoan-based Quippo Oil & Gas Infrastructure Ltd. in the tender for charter hire of two rigs for ONGC's Assam asset
8Quippo's bid was rejected by ONGC for non-compliance with the financial conditions attached to tender.
8Unhappy, Quippo appealed to the Independent External Monitor (IEM) for an intervention but its plea was found not to hold water by the IEM.
8Quippo then went on to appeal to the Delhi High Court for help and its argument was upheld by the court, which ordered ONGC to allow the rig supplier to participate in the tender.
8Eventually Quippo was the only short listed L-1 bidder under both the rigs
8But then, just when Quippo was about to be declared the winner, the ONGC management decided to pull the rug right out of of the rig supplier's feet.
Click on Details to know more on how Quippo eventually lost the battle with ONGC when it thought it was actually winning it.
   Details
An increasingly aggressive ONGC management is now asserting itself in unlikely ways with suppliers of equipment and services.
8The company's brass is now fearlessly going ahead with nomination contracts for high value consultants, choosing only those they want while discarding others.
8The feeling is that best-in-class consultants cannot be hired through the tender route as the system is susceptible to gaming by less competent bidders.
8Also tendering is a time consuming process, particularly when there is pressure on timely delivery in the KG-DWN-98/2 block
8"There is far too much at stake for us to waste time with frivolous bidders; we have to get what we want," a top ONGC official told this website.
8Then again, the fact that equipment suppliers are on the back foot in a buyers' market is also a big help, for this helps ONGC to dictate the terms and suppliers have no option but to fall in line.
Click on Details for more. Details
The ONGC tendering process has been cleaned up in the last couple of years.
8The agent based system is still at work but with the advent of the new government and a strong management team in ONGC, agents seem to be yielding little or no clout in the decision making process.
8In the earlier regime, the agency system worked the political superstructure in New Delhi to get the job done but that route does not seem to work anymore.
8Big names in the oil and gas agency system are now lying low.
8Communication channels have broken down, with ONGC officers are increasingly unwilling to entertain requests for visits or information.
8This is where the website steps in, with its country-wise network of contacts.
8The website's free mailers are sent five days a week to 25,000 people across the country and abroad. Everyone in the industry reads them for their objectivity and the sheer size and range of information they provide.
8And this is the database that the website taps to collect and collate information for our readers.
8Our information can come from a Deputy Manger in ONGC's Nazira oilfield to senior officials in the company's Eastern Offshore Asset.
8There is a element of trust between our sources and us, built through hard work and dedication.
8We are proud of the relationships that we have developed in the industry and had it not been for their support, we would not be where we are today. Details
What are the pricing benchmarks for Type-III onland rigs in India at the moment?
8This is a difficult question to answer but emphasis will have to be laid on the rates arrived at in ONGC's tenders as it is the most representative price discovery system.
8The usual ONGC tender for onland rigs has a number of bidders but when it comes to actual bids from those with available rigs, the numbers are limited
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Consultancy Services for setting up of Catalyst Plant, Panipat Refinery Details
8Mechanized sludge cleaning & processing of sludge of crude oil tanks, Panipat Refinery Details
8Fabrication and installation of by-pass arrangement for DHDT Breechlock Exchangers, Mathura Refinery Details
8Processing of Oily Sludge for recovery of Oil at Panipat Refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8ONGC Videsh's additional 11% Vankor stake buy gets Cabinet nod Details
8Vadodara Gas Ltd reduces prices of CNG, PNG Details
8Oil & gas field auctions: ONGC, OIL retreat paves way for startups, new players Details 
8Saudi cabinet says eager for oil market stability Details
8Oil Minister Pradhan discusses Energy Collaboration proposals with Sri Lankan Prime Minister, Ranil Wickremesinghe Details
8Lower gas price will hit Oil India finances: Fitch Details
8No change in gas pricing formula; rates below output cost Details 
8IOC intimates of completion of acquisition of stakes in JSC Vankorneft and LLC Taas Yuryakh Neftegazodobycha Details
8Government not to change domestic gas price formula Details
8Oil hits highest since June on possible US inventory drop Details
8India closes $3.14 billion stake purchase in Russian oilfields Details
You can also click on Newsclips for more   Details
India's new domestic gas price of $ 2.50/mmbtu is now among the lowest in the world.
8The price now trends below lifting costs for gas production for ONGC and OIL, which is around $ 3/mmbtu.
8The government has also notified price for deepwater fields (that have higher lifting costs) at $ 5.3/mmbtu, and this price levels seems unviable to spur new gas production,
8The investment outlook for domestic gas production becomes worse as of now, especially for private companies such as RIL-BP and Cairn.
Click on Reports for more Details
ONGC is turning out to be a tough bargainer these days with equipment suppliers.
8And the company cannot be faulted for asserting its advantage in what is evidently a buyers' market.
8Well placed sources in the industry and ONGC said that the public sector E&P major had recently put Schlumberger in place by refusing to buy hi-tech drilling tools under its mega tender for wire line logging, perforation, TCP-DST and well shuttle services
Click on Details for more Details
With the lowering of the domestic gas prices to US$2.50 /mmbtu (on GCV basis) for H2 FY2017, it is expected that the pooled prices for the fertilizer industry will reduce to US$6.10-6.20/mmbtu during H2 FY2017 from ~US$6.5/mmbtu during H1 FY2017.
8This should lower the cost of production of urea, which in turn would reduce the subsidy burden for the Government.
8For a fall of every US$ 1/mmbtu in gas price, the retention price of urea would reduce by Rs. 1800-2000/tonne.
8Hence, expected reduction in the pooled prices to US$6.1-6.2/ mmbtu should lead to subsidy savings of ~Rs.7-8 billion for the Government for H2 FY2017 (assuming the currency remains stable).
8Lower subsidy for the industry would in turn lead to lower working capital borrowings for the companies and enable them to reduce their interest cost.
8Further, lower pooled gas prices would improve the competitiveness of the revamped urea capacities which are entitled to receive variable cost (energy cost, electricity and water cost primarily) and a uniform per MT incentive of Rs. 2,300/MT for production beyond cut-off quantity but their realisations are subject to a cap of the import parity price plus other incidental charges.
Click on Reports for more Details
The new domestic gas price however is a big positive for growth of gas demand in India.
8Currently, APM gas constitutes 73% of total domestic gas production  and 45% of gas consumption (including LNG) in India.
8Considering that most of the consumers blend domestic gas with LNG (ratio varies depending on allotment of domestic gas,  highest for fertiliser plants), the blended costs for gas prices could decline by 10-15% on an average.
8Power consumers being the most price sensitive would benefit the most from this decline, considering domestic prices are unlikely to return to US$ 4/mmbtu levels for another year or two.
8There will be an improvement in gas consumption too, once Petronet LNG commissions its incremental regasification capacity at Dahej.
8So the gainers will be the consumers as well as companies such as GAIL and CGD entities such as IGL, MGL and Gujarat Gas.
8But such gains are contingent on other factors working favorably too. 
Click on Reports for more. Details
Find out how the decline in cost of production is going to hurt the bottomlines of upstream producers in India such as ONGC and OIL
8The cost of domestic gas based power will decline by around 9%
8For reference purposes, the website carries here the calculations of overall cost of power under different fuel mix in India to provide you the right perspective
8The impact on the fertilizer industry will be a saving of around Rs 700 to Rs 800 crore in subsidy bills
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The PNGRB has cancelled the authorization given to the Ahmednagar geographical area for development of a CGD network on the inability of the project promoters to come up with the requisite Performance Bank Guarantee.
8The regulator had given a 15-day time extension but the PBG never came through.
8The PNGRB has now gone ahead and confiscated the Rs three crore bid bond submitted by the promoters
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A Rs 2500 crore business development opportunity has arisen in a petrochemical complex in India because of change of feedstock
8There will be an increase in ethylene production, and as a consequence existing petrochemical production is to be enhanced
8The capacity of the existing power plant is to be raised too, to 100 MW
8Expansions will be required in all the major petrochemical manufacturing units
8RFQs are likely to be floated soon.
Click on Reports for complete details along with key contacts Details
In distressed times, E&P suppliers have come out with innovative ways of retaining their old customers and preventing them from going to others.
8A case at point is the successful attempt by an equipment manufacturer to buy back a vital onland rig equipment and replace it with newer ones for ONGC.
8The implication of a buyback is that the equipment will be available at a lower price than if the equipment were bought ore replaced outright.
8The other implication is that such a buyback prevents ONGC from looking for other suppliers of the equipment.
8ONGC is also trying to now explore the possibility of entering into similar buyback arrangements for the same equipment belonging to other original manufacturers across all its onland rigs
Click on Details to know more Details
ONGC is now planning to enter into a very reasonably priced rate contract for buyback of this critical equipment for onland rigs across all its assets .
8The orders will be centralized and coordinated from across all its assets and processed out of Mumbai.
8Several departments will work together to ensure that the exercise is successful.
8ONGC is now looking at similar rate contracts for other equipments as well on the buyback principle
8Find out more on why rate contracts were found to be a suitable way of handing such buybacks
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Business development managers of original equipment manufacturers must be in the loop on this buyback arrangement that ONGC has entered into.
8Is this the way business is going to go in the future?
8Will the indent for an OEM equipment be replaced with a rate contract under a buyback arrangement?
8To what extent can such a concept be pushed within ONGC?
8Is a rate contract possible for all kinds of equipment?
Click on Details for key contacts within ONGC where such concepts can be spoken about and developed. Details
Well places sources said that senior executives in ONGC are upset with Schlumberger over their conduct with the tender for wire line logging, perforation, TCP-DST and well shuttle services.
8The multinational supplier has been accused of slowing down the negotiations for the mega tender by being inflexible in some items of the tender in which it is the sole bidder.
8This delaying tactic reportedly works in Schlumberger's favour as the company is able to get extensions for the old contract under which it continues to keep its tools deployed in ONGC.
8Under the new tender, Schlumberger is coming out as the L-2 bidder under quite a few heads because of aggressive bidding by its competitors.
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Carrying out O & M Services for Captive Power Plant Operations at Onshore Gas Terminal Details
8Hiring of NDT Services for DDW1 Platform and Process cum Living Quarter Platform, Andhra Pradesh Details
8Procurement of Diethyl Aluminium Ethoxide, Pata Details
8Procurement of Pentane for BPCL Project Site, Dibrugarh Details
8Carrying out EIA & RA study for spur R-LNG pipline from Ennore LNG terminal to Manali Details
8Supply of Transmitters to Mathura Refinery Details
8Supply of Gas Detectors for Shelter Analyzers, Guwahati Refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8Oil eases as Iran, Libya output rises hit OPEC deal momentum Details
8Indian Oil lines up Rs 18,000 cr to raise Panipat refinery capacity Details
8Super critical unit at Chhabra synchronised on oil  Details 
8Saudi cabinet says eager for oil market stability Details
8Indian Oil Corp to spend Rs 9814 crore for expansion of two refineries Details
8Aadhaar now mandatory to get cooking gas subsidy Details
83-day Petrotech 2016 to be held at New Delhi from December 5 to 7 Details 
8India’s natural gas demand Details
8India and Russia may agree to create an “energy bridge” Details
8Petrol price hiked 14 paise a litre, diesel by 10 paise Details
8Indian Oil Corporation plans to lay 2,000-km LPG pipeline from Kandla to Gorakhpur Details 
You can also click on Newsclips for more   Details
RIL has eventually cancelled the contract for the deepwater drill ship Discoverer India with Transocean.
8The rig was on long term hire with RIL from 2013 to 2021 but RIL decided to terminate the contract from December, 2016.
8The Discoverer India was not deployed by the company in its KG Basin operations but was hired out in the Gulf of Mexico to work with another E&P company.
8The day rate for the rig was too high, and at $508,000 per day everyone expected the contract to be terminated before time.
8But the cancellation comes at a price.
8RIL will have to incur a big price for the cancellation as it will have to pay $ 160 million to Transocean for the early cancellation.
8The Discoverer India is one of the most sophisticated deepwater drilling rigs in the world, capable of drilling at water depths of upto 12,000 feet.
Click on Details for more Details
In a bold new experiment, Chemical giant INEOS has built a virtual pipeline across the Atlantic to bring US ethane gas to Europe.
8At the heart of the plan, which has seen more than US$2 billion worth of investment, lie what are called the "Dragon" ships – a fleet of eight highly advanced, sustainable vessels, and the largest, most flexible multi-gas carriers ever built.
Find our more about what is being done, and will it be possible to repeat the experiment in India? Details
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