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Oct 2016

In a significant judgement that may not come as good news for buyers of gas, the PNGRB has upheld the right of an authorized entity to take deposits to build the requite facilities to supply gas to a buyer.
8What is more even if a supply system is not in place in the existing Geographical Area, the buyer is not entitled to protection of its gas supplies from an established supplier in a neighbouring geographical area.
Click on Reports for more Details
The Competition Council has upheld the following allegations made by the complainants:
8Forcing buyers to maintain Letter of  Credit in a format which enables GAIL to secure payments, which are not envisaged in the GSA
8Unauthorized invocation of Letter of Credit beyond the limits prescribed under the GSA
8Computation of take or pay liability in such a manner not contemplated in the GSA
8Arbitrarily and unilaterally doing away with the period of seven banking days after buyers due date, before notice of suspension could be issued
8Arbitrarily and unilaterally substituting disconnection for suspension of gas supplies
8Forcing the Informants to make payments against incomprehensible invoices, drawn up arbitrarily by GAIL, without indicating the requisite necessary details stipulated in the GSA
8Coercing buyers to pay an amount towards take or pay liability and forcing them to waive of their right to ask for make-up gas
8Suspension of gas without notice and denial of dispute resolution as per the GSA.
Click on Reports for more Details
Find out how exactly GAIL discriminates against its suppliers.
The Competition Council has upheld allegations made on the following terms in GAIL's contracts while ordering a full probe:
8Make Good Gas
8Restoration Quantity
8Recovery Period Gas
8Quality
8Take or Pay obligations
8Force Majeure
8Suspension and Termination
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A Competition Council of India probe on monopolistic practices indulged by GAIL in the pricing of gas by two gas buyers is being watched with much interest by the industry.
8An adverse verdict might bring more buyers to the front
8A perpetual complain against GAIL is that it has been disproportionately using its near-monopoly powers to its advantage and against the interest of the buyers.
8The government and the PNGRB has been vacillating on a proposal to bifurcate GAIL and spin off its transmission division into a separate legal entity.
8But pressure may be building up from the bottom for the authorities to act on this proposal now
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Now that prices have come down and equipment suppliers are on the defensive, ONGC is becoming more choosy in deciding who to place orders on for OME supplies.
8Usually, ONGC is married to an OEM, because it is dependent on spares supplied by the OEM for critical equipment.
8In one particular instance however, ONGC has taken away a bunch of spares from a major contractor and ordered them on two other contractors because the spares were exchangeable and competitors had offered lower cost substitutes.
Click on Reports for more Details
Spare part suppliers are now actively reducing prices and pushing their spares parts with ONGC and OIL as and when they can find the opportunity, beating existing suppliers through astute marketing wherever possible.
8A case at point is some astute and predatory maneuvering done by Baker Hughes and NOV to pick up new orders.
Click on Details for more Details
A business development opportunity has come up in an Indian port after a contractor decided to shift the production of an offshore Jacket from a foreign shipyard to an Indian one.
8The accompanying material and service requirements for building of the Jacket will now take place in India
8This provide opportunities for equipment and service suppliers involved in this line of work.
Click on Details for key contacts and name of the yard and the project. Details
Indian shipyards are now in a position to make sophisticated offshore oil and gas platforms.
8The capability has been developed over a period of time with dedicated work.
8Find out more on why Indian companies bidding for such jobs in the future will able to walk away with the contracts.
Click on Details for more   Details
Be updated on a maintenance jobs coming up in a big gas processing plant.
8Maintenance costs could be in the range of Rs 50 crore or more
The scheduled maintenance will be in the following units:
8Gas dehydration unit
8Gas sweetening plant
8Condensate fractionation unit
8Crude stabilization unit
8And other attendant units
Click on Details for more   Details
RFQs are to be floated for a 20 M:LD Sea Water Reverse Osmosis Desalination Project
Find out more on
8Likely environment clearance dates
8RFQ dates
8Likely cost of the project
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Procurement of Variable Area Flow Meters, Digboi Refinery Details
8Supply of Carbon Analyzer, Digboi Refinery Details
8Carrying out periodic testing of LPG Underground Tanks Details
8Procurement of Clamp-on Ultrasonic Flowmeters Details
8Providing civil works for the deployment of Drilling Rig at Exploratory Drilling location, Karaikal Details
8Annual Maintenance Contract for Maintenance and Calibration of Gas Detectors System , Mathura Refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8Cooking gas scarcity hits Mizoram Details
8New Mozambique energy minister appointed ahead of huge gas deals Details
8Modi to lay foundation stone for Varanasi gas system Details 
8Oil prices dip after strong rally, but sentiment remains confident Details
8Asia energy firms track oil up but markets rally fades Details
8Oil investments in AP to touch 1.2 lakh crore Details
8Rajasthan High Court rejects Cairn India claim for refund of Rs 300 cr cess Details 
8Essar Oil-Rosneft deal likely to escape capital gains tax due to Mauritius treaty Details
8India likely to offer ‘on-tap’ oil, gas exploration licensing next year Details
8Strengthening India’s energy security Details
8RIL Q2 net profit up 17 per cent on higher Petchem earnings Details 
You can also click on Newsclips for more   Details
As of the moment though, GAIL seems to be doing well
Turnaround in petrochem business: The production ramp-up at GAIL’s PATA plant is progressing faster than estimated, raising the FY17 polymer production estimate to 570k mt against 480k mt earlier and the FY18 estimate to 700k mt from 600k mt. Polymer realisations are expected to sustain at ~US$ 1,500/mt (gross) over FY17-FY19 as oil prices trend higher. Accordinglyu, polymer realisation estimates have been raised by US$ 50-100/mt for FY17-FY19. Consequently, the petrochem EBITDA estimates are revised by 1.9x, 5% and 41% for FY17/18/19 respectively. This leads to earnings being 20-36% higher than consensus for FY17-19E in this segment.
Gas transmission on track: GAIL’s transmission volume ramp-up seems to be on track, with additional volumes expected from PLNG’s recently commissioned 5mmtpa Dahej regasification terminal expansion. GAIL is pursuing the matter of pipeline tariffs in courts against regulator PNGRB and expects a favourable verdict, according to analysts.
Click on Reports for more Details
Analysts are now claiming that GAIL's US LNG contract losses are now being factored into the company's financial outlook by the stock markets.
8GAIL's US LNG contract spreads negative since February, 2016.
8Japanese spot LNG prices have turned cheaper than GAIL’s US LNG contract prices since February this year, hitting a peak discount of US$ 3.2/mmbtu in May. This discount has narrowed to US$ 2/mmbtu currently.
8Reportedly, analysts is trying to capture this risk to some extent by reducing the trading EBITDA estimates for FY18-FY19 by 18%/32% to Rs 11bn/Rs 9bn, despite  volumes improving 22% by FY19
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It is time for Indian companies make a trip to Mozambique's gas summit to be held at the end of the month.
8Indian companies are heavily invested in Mozambique and the summit is essentially an attempt to develop local content in the country for the forthcoming multi-billion dollar investments.
8As and when these investments kick off, as their sponsors claim they will soon, Indian companies can leverage some of their low cost advantages in Mozambique in combination with local firms not just on the E&P front but on the midstream and downstream sides as well.
8A large number of foreign companies are participating in the summit and Indian companies need to show up there.
8Mozambique has a staggering 150 TCF of estimated gas reserves.
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Carbon dioxide (CO2) Capture and Storage (CCS) is the concept that is completely alien to Indian companies.
8The technology is in its infancy and it is current too expensive to deploy.
8Eventually however demands to keep carbon emissions down and the a hefty tax on carbon can make it a viable concept.
8It is time for companies to keep track of developments on the CCS front, both from the technology suppliers point of view as well as from the operator's angle.
8IOR and EOR pilot schemes involving CO2 injection is beginning to catch on in some countries.
8This technology has the capacity of a getting a sudden impetus once global warming speeds up and its aftershocks are felt across the world.
8A global CCS site map shows that India has adequate capacity for storage too, in its depleted reservoirs and salt caverns.
8The government needs to take notice too.
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The website carries here a a series of charts that show how new building tanker rates have collapsed since their peaks in 2007-08.
8The rates have been going down ever since.
8The inexorable decline seems unstoppable at this point.
8The charts have flattened out of late but they are still looking downwards.
Cick on Reports for more Details
Depressed prices with very little ordering activity continue to mark new shipbuilding activity across the world.
8It is not just new business that has declined, a large number of cancellations has brought many shipyards around the world staring at bankruptcies.
8In 2016, the rate of vessels scheduled to be delivered but won’t, to exceed 47%, a staggering number by any yardstick.
8In terms of recently reported deals, Norwegian owner, Viken Shipping, has placed an order for two firm and two optional Suezmax tankers (157,000dwt) in Samsung in S. Korea for a price in the region of $ 59.0 million each and delivery set in 2018.
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ONGC is setting up a new onshore terminal to process the gas coming out of the Daman Development Project.
8The Gas initial in place of ONGC fields in nomination blocks in Tapti Daman Block (as on April 1, 2014) are 152.6 BCM (66.72 BCM in Proved Category, 36.54 BCM in Probable Category and 49.33 BCM in Possible Category). 
8When production from other satellite fields are also taken into account, the processing capacity needed will be quite high.
Click on Details for the latest on progress made so far.  Details
The website tracks LNG carrier hire rates on a daily basis in collaboration with a foreign supplier of such information.
8Atlantic carrier hire rates have gone down rather sharply $32,000 per day in early September to $ 26,000 per day this week.
8Similarly, Pacific rates are down from $ 30,000 per day in September to $24,000 this month.
Click on our prices section to see these daily charts. Details
For reference purposes the website carries here the following tenders:
8Procurement of Infra Red Hydrocarbon Gas Detector Details
8EOI for drum filling machine for Propylene Derivative Petrochemical Project, Kochi Refinery Details
8Supply of Carrier Ring Gaskets for CCR Plant, Mumbai Refinery Details
8Supply of Pigs and its spares for GAIL KG Basin, Rajahmundry Details
8Utilization of available land at Vagra, Ankleshwar Asset Details
8Supply and Commissioning of Hydraulic Deshaping Unit for LPG Bottling Plant Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8Deepwater projects survive low oil price, executives say Details
8Government seeks putting Cairn arbitration on hold Details
8Govt to help bidders unite for Oilfields sale Details 
8Oil rises on U.S. crude inventory draw, falling Chinese output Details
8CNG as main fuel for vehicles: NGT seeks views from states Details
8RMAFC commends Nigeria’s $15b cash for oil deal with India Details
8India’s Natural Gas future Details 
8India’s natural gas production growth Details
8Competition Commission of India orders probe against GAIL Details
8Rosneft, BP entry may fuel retail competition in India Details
8Ruias seek tax exemption for Rosneft deal Details 
You can also click on Newsclips for more   Details
The other side of the picture is reflected by the view of Big Oil companies., which have used their energy forecasts to claim that preventing dangerous climate change is simply impossible:
8BP: “Emissions [will] remain well above the path recommended by scientists.”
8Shell: “We also do not see governments taking the steps now that are consistent with the 2°C scenario.”
8ExxonMobil: “It is difficult to envision governments choosing this [low carbon] path.”
8So, what will governments end up doing?
8When climate change begins to manifest itself, as it surely will, governments will be forced to work more drastically then they are doing now.
8And that will leave a more severe impact on the oil and gas industry than a designed way of handling the entire climate change paradigm.
Click on Reports for more Details
The website occasionally highlights the arguments that calls for a stop to all oil and gas mining activity in order to keep global warming from scaling limits.
8We do so because we believe that it is important for stakeholders with a 10 to 20 year perspective in the oil industry -- both upstream and downstream -- to understand what the other side is saying, for not all of what it is saying is nonsense.
8For, in the absence of a proper perspective, there is the serious risk of ending up with stranded assets with massive negative returns on investments.
8It is also important to take note of the increasingly vocal campaign to keep temperature increases down to 1.5 degree instead of 2 degree.
The campaign claims that the following ill effects may arise if temperatures are allowed to go up by 2 degree, leave alone more than that:
-- Reductions in water availability would nearly double from 9% to 17% between 1.5°C and 2°C, and the projected lengthening of regional dry spells would increase from 7% to 11%.
-- Wheat yields would be reduced by 15% at 2°C compared to 9% at 1.5°C in a best estimate; the reduction could be as bad as 42% at 2C versus 25% at 1.5°C.
-- The difference between 1.5°C and 2°C is likely to be decisive for the survival of tropical coral reefs.
-- Cities will increasingly be hit by storms and extreme precipitation, inland and coastal flooding, landslides, air pollution, drought, water scarcity, sea level rise and storm surges.
8It is for these reasons – and due to the moral call from small island states and other vulnerable nations – governments meeting in Paris set more ambitious goals than at previous UNFCCC meetings. The Paris Agreement established the goal of “holding the increase in global average temperature to well below 2°C above pre-industrial levels and pursuing efforts to limit the temperature increase to 1.5°C above preindustrial levels.”
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Indian rig companies too are facing the onslaught of the decline in rig counts.
8Some have began “stacking” their rigs and offshore vessels.
8This is the main reason why day rates have been come down dramatically in recently hiring by companies such as ONGC.
8The fear is that there is unlikely to be much improvement in prices in 2016, with oversupply persisting and oil Companies trimming E&P expenditure, particularly on exploration activity, leading to lower requirements of rigs and consequently offshore vessels.
8With the repricing of the charter rates, Indian companies are “idling” their vessels and terminating newbuild contracts.
8They are now trying to “ride out this storm” over the next few years.
8Most offshore vessel and rig suppliers have no expansion plans in the foreseeable future.
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Indian rig and offshore vessel owners are facing a spiraling decline in day rates and deployment.
8The World Rig Count, the number of Oil Rigs (onshore and offshore) has reduced from 3578 in the calendar year 2014 to 2337 in the calendar year 2015 and 1606 sp far this year year. This is a reduction of 50% compared to the number of Oil Rigs in 2014.
8The drastic “slide” in the price of oil continued in 2016.
8After “bottoming” out at sub $30 levels, oil prices started to climb again and have now reached about $45 per barrel.
8Unfortunately, this rise of approximately 60% has not been enough for exploration activity to increase much – which would have a positive effect on the demand for vessels - since there is no confidence as yet that prices will continue rising and the increase in price is “sustaining”.
8Experts believe exploratory activities would see some increase if crude oil prices cross $60 per barrel and sustain this level for a few months at least.
8Currently, there are more than 500 rigs laid up in the world.
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The new paper now says that that the oil, gas, and coal in already-developed fields and mines (that is, where the infrastructure has been built) exceeds the amount that can be burned while likely staying below 2°C, and significantly exceeds the amount that can be burned while staying below 1.5°C.
8Any new fossil fuel infrastructure that is built would require a corresponding early retirement of existing infrastructure.
8Given the political and economic difficulties of closing down existing facilities, report recommends that no new fossil fuel extraction or transportation infrastructure should be built worldwide.
8Instead, the wrold should allow for the gradual decline of existing operations, over the coming decades, and invest strongly in clean energy to make up the difference.
8The paper says that there is no economic or technical barrier to making this transition over this time frame: the only requirement is political will.
8To minimize the costs of the transition, governments should conduct robust planning for economic and energy diversification. The principles of just transition should be applied, to ensure workers and communities benefit from the shift to a clean energy economy, rather than be harmed by it.
8The report claims that this dramatic transition will be resisted by some of the most profitable companies ever known, and will necessitate bold and decisive action by governments on a scale not seen thus far.
8But the conclusions are also remarkably straightforward at their core. To keep from burning more fossil fuels than our atmosphere can withstand, we must stop digging them out of the ground.
8And this should be done in a sufficient, equitable, economically efficient, and just fashion.
8This paper is a must-read for those involve with planning in the oil and gas industry.
Click on Reports for more Details
With the price of crude crashing, the cost of all kinds of equipment is coming down rapidly.
8And even original equipment manufacturers are now adopting innovative methods to keep customers such as ONGC and OIL happy.
8One manufacturer indulged in a buy-back of its old products and replacing them with new items.
8Yet another very big manufacturer is now replacing big but worn out equipment with new one at the cost of what it would take to refurnish the old machines.
8Clearly low demand because of a sudden drop in E&P capex has dramatically changed the OEM market for Indian operators.
8Time for E&P companies to take advantage of this trend.
Click on Details to find out more on the companies who are offering new solutions in the OEM market.    Details
Who are the contact to chase up on the possible re-working of a rig into an MOPU in ONGC?
8The situation is still quite fluid and there is no confirmation yet whether some of the work will be done in an Indian shipyard or elsewhere.
8But business development managers must be on the lookout on what's going on in this front.
Click on Details for key contacts for this project   Details
A business development opportunity can prop up for refurbishment of a domestic rig into a Mobile Offshore Production Unit (MOPU).
8Well placed sources said that the opportunity may arise soon if it does.
8The job is likely to be done in an Indian shipyard, well placed ONGC sources said.
Click on Details for more Details
RFQs are likely to be floated by February 2017 for a new Atmospheric Steam Distillation column for its a Condensate Fractioning Unit.
8This includes a Kerosene Recovery Unit
8There will be a need for other accessories to process bottom products from existing naphtha stream
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Carrying out HAZOP study of pipelines facilities of all the stations covered under WRPL, Koyali base Details
8Procurement of around 151232 KL of Bio Diesel Details
8Hiring of Directional Drilling Exploratory Wells in KG Basin Project, Andhra Pradesh Details
8EOI for Management Consultancy services for execution of Offshore Oil & Gas Projects Details
8Supply of Selfhealing Monolithic Polymer Wrap Coat for pipelines, Assam Details
8Supply of Gas Turbine Spares, Digboi Refinery Details
8Common Services for Cryogenic Vessels Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8HC dismisses Cairn India's plea to export Barmer crude Details
8Pakistani agents making calls to executives at oil installations to extract key details Details
8Oil rises on weaker dollar, market balance signals Details 
8Govt pushes back deadline for small oil & gas field auction Details
8Russia's UCP says plans to keep Essar Oil stake for 3-5 years Details
8Cochin Shipyard signs MoU with EIL Details
8Gas stocks offer reason to cheer Details 
8Essar may start repaying loans in next few weeks Details
8Delhi High Court rejects Cairn India's export plea Details
8Russia barges in on Iran’s oil bromance with India Details
8Oil marketing firms to begin selling composite LPG cylinders Details 
8Cairn India case: Why govt would do well to re-look its strategy Details
You can also click on Newsclips for more   Details
Like it or not, Artificial Intelligence (AI) systems, also known as Cognitive Computing, has arrived in the oil and gas sector sooner than expected.
8It is poised to transform companies more rapidly than we can anticipate.
8The technology can be used by the oil and gas industry to address energy-price collapse, reserves replenishment and extraction, rising resource development costs, and new safety and environment responsibilities.
8But what do we mean by cognitive computing? In essence, cognitive systems are a new technology that applies human-like capabilities of understanding, reasoning and learning on data,  unlocking new value by quickly addressing seemingly unsolvable problems.
8Cognitive systems can process huge volumes of structured and unstructured data to understand and interpret relationships.
8Once established, cognitive systems can deliver recommendations, often close to real time.
8Such tasks would take even the most experienced worker years to achieve.
8Buying time in this way reduces risk and increases efficiency, which in turn cuts costs and boosts profits. Cognitive technology can respond to risks inherent in the ‘great crew change’. These systems can draw on previous knowledge, making years of expertise available to the next generation of workers in an immediately actionable way.
8For example, cognitive systems can monitor all the drilling sensor data in real time, comparing it with previous drilling reports and geological data.
8The technology can identify the potential for a stuck drill-bit with confidence, and with enough time to take preventative action.
8This ability to predict and act has huge financial implications – avoiding downtime cost for an offshore rig could save as much as $1,000,000 per day.
Click on Reports for more Details
A new business development opportunity has arisen for a new 10 MMTPA port and the expansion and mechanization of an existing port.
8This is a government project that entails development of the surrounding industrial hinterland.
8Key players and possible collaborators have been identified.
Click on Reports for more Details
Mundra is being developed now as a "smart industrial port city".
8This entail scrutiny from the business development manger's point of view
8Key players in this endeavor have been identified for potential business development opportunities.
Click on Reports for more Details
Internet of Things can be used to answer the following questions for a CEO or a departmental head of an oil and gas company:
 -- Despite industry strengths in analysing and using numeric data, what other data (including unstructured elements) am I not leveraging? If converted to knowledge, how could I better meet key objectives and requirements?
 -- What is the associated cost to my organisation and the wider ecosystem of not having the full array of possible options to consider when decisions and actions are being made?
 -- What benefit could I gain from detecting patterns locked away in unstructured data by combining it with structured elements? How would this accelerate innovation, production or performance?
 -- What would change if I could equip every employee to be as effective as the leading expert in that position or field?
8Artificial Intelligence will lead to a higher level of automation and efficiency.
8Uunmanned operations with drones monitoring pipelines, leading to greater automation, quality and operational efficiency, with less human and financial risk.
8Other cognitive systems, such as utilising augmented and virtual reality, would become the norm, providing previously unimaginable insights and enhanced decision-making.
Basic infrastructure will have to be developed
8However, before developing cognitive capabilities, some companies may first have to improve their operational capabilities.
8They may have to build their cloud, security and mobile infrastructure in order to understand how the integration of data supports predictive analytics.
8Effective use of data is a key component of an IoT platform. IoT sets the foundation of a data management platform and opens the door for Artificial Intelligence to yield full benefits.
Click on Reports for more Details
The sheer volume of data now coming out of an E&P enterprise has gone up geometrically.
8With sensors and monitoring devices becoming cheaper, with more IP addresses to identify them in the Internet of Things (IoT), the volume of data has increased.
8This leaves huge data lakes untapped.
8Complications arise, for example, when data is drawn from an offshore drilling platform (measured in terabytes per platform).
8The low communications bandwidth from that platform alone can become a bottleneck for data delivery and analysis.
8Furthermore, IoT devices only create structured data.
8This overlooks the considerable merits of unstructured data, examples of which include: weather reports, drilling reports, free-format text on maintenance records, mobile phone and email  conversations, syndicated data, professional papers, social media and video.
8With such vast quantities of data available, the value potential from IoT capabilities will grow significantly if insight can be rendered from the sea of data.
Click on Reports for more Details
The Internet of Things (IoT) has helped the oil and gas industry become more efficient, and yet the ability to make sense of the vast volume of available data, at the precise moment it is needed, remains elusive.
8New cognitive technology has the capacity to transform the value of data, whether structured or unstructured, bringing significant operational and strategic benefits beyond pattern
identification, to deliver powerful real-time recommendations.
8Some oil and gas companies are already seeing results from cognitive system projects, providing useful clues and approaches for others to follow.
8Are Indian companies following suit?
Click on Reports for more Details
ONGC has made a new rule that an equipment sold to ONGC should be a "new equipment".
8In other words, it should be less than one years old.
8This is meant to hold for equipment supplied from abroad.
8But does this caveat hold strictly for indigenous suppliers?
Click on Details to find out more Details
What really promoted ONGC to come up with the one-year rule?
8This was because one very big equipment supplier palmed off a set of high value equipment as "new" when they were actually not.
Click on Details to find out the company's name and the equipment it supplied that prompted ONGC to come out with this new rule. Details
Should the one year age limit for equipment apply from the date of manufacture or should be the date of despatch or delivery?
8Some special conditions have now been applied to supply of "new" equipment by ONGC.
8Clearly the conditions have been tightened.
Click on Details for more Details
What is the total CIF value of onland rigs in India as established by ONGC and OIL in recent tenders?
8The rates will depend upon which Category and Type of rig being talked about.
8The rates will vary accordingly.
8The benchmark rate can be utilized by others who want to hire rig on a charter basis.
Click on Details for more on these rates. Details
Rig transportation or E&P equipment transportation can be big business for specialized transportation companies with the capacity to move large sized equipment.
8This website occasionally provides relevant information for such transporters.
8It pays to be able to know what the internal rig transportation rates which have been agreed by the charter hirer with the operator.
8This helps align the rates that are offered by the transporter with the rig owner or operator.
Click on Details
   Details
The important point to note in competitive onland rig tenders is that the differential between the rig operating day rate and that of the non-operating day rate has narrowed down.
8This is because the differential for the rig owner is very little.
8Then again, the emphasis is now on higher utilization and efficiency on the part of the owner too as the non-operating rig rate is high.
8The emphasis is to keep the non-operating days as also the breakdown days to the minimum.
8What are these benchmarks in the Indian industry today
Click on Details to find out how the differential is narrowing and what is the standard number of non-operating rig days. Details
For reference purposes the website carries here the following tenders:
8Procurement of Ultrasonic Flowmeters, Manali Refinery Details
8Carrying out Nitrogen Leak Survey of Refinery, Manali Details
8Civil works at drill site LKGH in Lakwa area Details
8Expression of Interest (EOI) for executing EPC Contracts for Offshore Process Platforms on Lumpsum Turnkey basis Details
8EOI for EPCIC of Onshore Facilities for Project KG-DWN-98/2 Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:  
8Modi thanks Brazil for support to India's NSG bid Details
8Essar not exiting oil & gas business: Ruia Details
8Even at $100 for coal, Asia's LNG industry struggles to compete Details 
8Sale of Essar Oil significant for Indian banking system: Kotak Details
8Brazil to ease local content requirements in oil, gas auctions -report Details
8Why has Rosneft paid a packet for Essar Oil? Details
8India gets a brand new oil & gas basin, Kutch offshore, after 31 years Details 
8India discussing $15 billion petroleum investments with Nigeria Details
8Fuel surcharge increase makes power costlier Details
8Rosneft deal to open new oil routes for India Details
You can also click on Newsclips for more   Details
For reference purposes, the website carries here detailed stock recommendations for the following companies as of last week based on their likely performance and in terms of what to look out for and earnings outlook
8RIL: Buy
8IOCL: Buy
8BPCL: Sell
8HPCL: Hold
8ONGC: Hold
8Oil India Ltd: Buy
8GAIL: Buy
8Petronet LNG: Buy
8IGL: Buy
8GUJA: Buy
8GUJGA: Buy
Click on Reports for more Details
For reference purposes, the website carries here the following data:
8Five year Quarterly GRM trends for Singapore complex, Mediterranean complex, WTI crack, Rotterdam complex, Five year Singapore Complex (5-year average). Singapore Q-2 GRMs were well below 5-year average in Q2, 2016-17.
8Five year Light distillate spreads (five year averages) for petrol, LPG and naphtha in India (up to October, 2016)
8Five-year MIddle distillate cracks for for ATF, fuel oil and diesel in India (up to October, 2016)
8Five-year Polymer cracks for HDPE, LLDPE, PVC and Polystyrene (up to October 2016)
8Five year polymer intermediary spreads for MEG, PX and  PTA (up to October, 2016)
8Five-year transportation fuel product consumption growth for petrol, diesel, ATF, LPG, SKO and other industrials (up to August, 2016)
8Growth momentum in industrial energy products slows down as shown by five-year consumption data for naphtha, LDO, lubricants, FO/LHSHS, bitumen, petroleum coke and others (up to August, 2016)
8Month-wise Kerosene under recovery data (up to August, 2016)
8Month-wise LPG under recovery data (up to August, 2016)
8Disaggregated natural gas sales (up to August, 2016)
8Natural gas availability from ONGC, OIL and private and JV companies (up to August, 2016)
8Sectoral demand and consumption in terms of domestic and LNG usage for fertilizers, power, city gas and other industrials (up to August, 2016)
Click on Reports for more Details
Brent crude oil prices are forecast in October to average $43/barrel in 2016 and $51/b in 2017, $1/b higher and $1/b lower than last month’s forecast, according to latest EIA data
8West Texas Intermediate (WTI) crude oil prices are forecast to average about $1/b less than Brent in 2016 and in 2017.
8But the current values of futures and options contracts suggest high uncertainty in the price outlook.
8NYMEX contract values for January 2017 delivery suggest a price range from $37/b to $68/b encompasses the market expectation of WTI prices in January 2017.
8Henry Hub spot prices are forecast to average $3.04/(MMBtu in the fourth quarter of 2016 and $3.07/MMBtu in 2017.
8Natural gas futures contracts for January 2017 delivery averaged $3.34/MMBtu.
8NYMEX contract values for January 2017 delivery suggest a price range from $2.28/MMBtu to $4.88/MMBtu encompasses the market expectation of Henry Hub natural gas prices in January 2017.
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Adani Ports is now striving to transform into an Integrated Logistics Company rather than simply being identified as a port service provider.
8The logistics arm of the company is working on becoming a pan-India end-to-end logistics service provider with value added solutions across the storage, transportation and services sectors of logistics
8Already, the company is spreading its wings to cater to sectors such as automobiles, chemicals, white goods and liquid verticals.
8Mundra Port is the first port in western India to dispatch long haul python trains (attaching two trains together and dispatching as one unit)
8Adani Logistics already has what it calls the largest private railway link in the country
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The website has expanded its LNG price coverage for India as of last week.
8For readers, it is now going to be a seamless experience, going from fob prices to landed prices and onwards to delivered domestic prices.
8We have begun giving region-wise domestic RLNG prices of GSPC, GAIL, BPCL and IOC.
8The pricing is complicated and the taxation structures are different in different parts of India. What we have done is to give the region-wise delivered price to customers.
8Out database is built on direct feedback from buyers as we have noticed that suppliers, for reasons best known to them, are reluctant to part with pricing data. Buyers are picked up from our database of 25,000 readers of our newsletters. Since we do not have a clash of interest and buyers have been part of our community of readers for many years, we consider them to be reliable sources of information.
Domestic prices are given in terms of
8Spot
8Short term
8Contract prices of new and old customers
8Some of these prices vary monthly or every fortnight but our analyst will keep checking with sources daily for prices. In effect therefore, what we end up giving is a daily tabulation of domestic prices across the board.
8Our easy-to-use database provides seamless viewing, from foreign to domestic prices, along with attendant viewing curves.
8As we go along we will strengthen our coverage of domestic RLNG prices.
8Daily vessel rates and LNG transshipment charges from US and Belgium as also CFR and FOB prices from all over the world are also tabulated by us (some of these prices are coming in through the help of a foreign vendor).
8While international prices may be available from different sources to our readers, our ability to provide domestic delivered prices of LNG is what sets us apart from the others.
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Our analysis of delivered prices shows a wide variation among suppliers of gas across different parts of the country.
8Depending upon the supplier and the region where supplied, and whether it is long term contract price or spot price, the differential can be very wide indeed.
8Delivered RLNG prices in fact can vary from as low as 7.75/mmbtu for spot rates to $10.34/mmbtu for contract prices from RasGas supplied from Dahej terminal.
8But there are all kinds of caveats on whether the cheaper option can reach customers.
8Pipeline access and a whole lot of other factors come into play in accessing cheaper gas in India.
8As we go along, we will highlight a lot more details on the domestic RLNG supply scenario.
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RasGas rich LNG -- which is the monopoly contract gas supplier to India -- is landing at Dahej at far higher rates than CFR LNG prices in China, South Korea or Japan.
8CFR prices in Japan, South Korea and China are in the range of $ 5.4/mmbtu whereas the landed price for rich RLNG from RasGas is priced at $ 6.68/mmbtu
8Pertinently, the CFR prices for Asia are spot prices and not contract prices.
8The point to note is that Middle East FOB prices are currently hovering at $4/mmbtu, and the landed price for those cargoes in Dahej will be far cheaper than the RasGas price.
8Transhipped RLNG out of Belgium is cheaper still at $ 3.5/mmbtu
8The day rates for RLNG carriers are given here too (rates have been falling as our price curves seem to indicate over the last one month), and it is possible to calculate the landed prices of some of these FOB cargoes to India.
8A comparison of these prices with delivered prices of RLNG in various destinations in India completes the picture for both suppliers and buyers of RLNG in the country.
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