All content in this website is sourced legitimately
Archives
All the news items since the launch of our web site are preserved in the archive section. The archive entries are freely accessible to all the users.
Nov 2016
A big onland exploratory drilling programme will see the requirement for three onland rigs
8There is already one operational drilling rig available and drilling is expected to begin by December, 2016
Click on Details for more Details
8There is already one operational drilling rig available and drilling is expected to begin by December, 2016
Click on Details for more Details
A new Common User Facility (CUF) petroleum storage facility is coming up
The proposed tankages are for
8HSD
8SKO
8Ethanol
8Transmix
Two. tank farms are proposed and they will accommodate above ground tanks to store different products. The tanks will be cylindrical and vertical with varying diameters from 17 mtrs. to 30 mtrs. and 15 mtrs height.
The cost of the project is around Rs 300 crore
Click on Reports for more Details
The proposed tankages are for
8HSD
8SKO
8Ethanol
8Transmix
Two. tank farms are proposed and they will accommodate above ground tanks to store different products. The tanks will be cylindrical and vertical with varying diameters from 17 mtrs. to 30 mtrs. and 15 mtrs height.
The cost of the project is around Rs 300 crore
Click on Reports for more Details
Following are some interesting trends that industry watchers must look at:
8Inventory builds go hand-in-hand with increases in future oil prices relative to current prices (and vice versa)
8Open interest in crude oil futures grew over the last decade as more participants entered the market
8Physical participants’ (producers, merchants, processors, and end users) U.S. futures market contract positions
8Money managers tend to be net long in the U.S. oil futures market
8Crude oil plays a major role in commodity investment
8Commodity index investment flows have tended to move together with commodity prices
8Correlations (+ or -) between daily price changes of crude oil futures and other commodities generally rose in recent years
8Correlations (+ or -) between daily returns on crude oil futures and financial investments have also strengthened
Click on Reports for more Details
8Inventory builds go hand-in-hand with increases in future oil prices relative to current prices (and vice versa)
8Open interest in crude oil futures grew over the last decade as more participants entered the market
8Physical participants’ (producers, merchants, processors, and end users) U.S. futures market contract positions
8Money managers tend to be net long in the U.S. oil futures market
8Crude oil plays a major role in commodity investment
8Commodity index investment flows have tended to move together with commodity prices
8Correlations (+ or -) between daily price changes of crude oil futures and other commodities generally rose in recent years
8Correlations (+ or -) between daily returns on crude oil futures and financial investments have also strengthened
Click on Reports for more Details
Nano particle drilling fluids are now making an entry into the market.
8Nano additives bring about significantly improved results in raising wellbore strength, reducing fluid losses and friction during drilling, with the latter translating to a faster rate of penetration.
8One technology involves braking down iron and carbon constituents into nano form, enabling them to form a thin, yet durable, filter cake around the inside of the wellbore. This action takes place within minutes of introducing the nanoparticles into the drilling fluid base.
8As the particles move into the small pores and fractures of the exposed rock, the effective permeability is reduced, making it less likely that drilling fluids will bleed into the formation and weaken the wellbore.
8With less formation damage, it also becomes less likely that wellbore walls will collapse in on a drillstring, a common problem known as stuck pipe. And when the proper balance of fluids and well pressure is not effectively managed, even worse issues can arise such as a blowout.
8Technology now enable to redesign the shape, size, and function of nanoparticles to address a number of different drilling conditions.
8It is time for Indian E&P operators to look at this fascinating new technology
Click on Reports for more Details
8Nano additives bring about significantly improved results in raising wellbore strength, reducing fluid losses and friction during drilling, with the latter translating to a faster rate of penetration.
8One technology involves braking down iron and carbon constituents into nano form, enabling them to form a thin, yet durable, filter cake around the inside of the wellbore. This action takes place within minutes of introducing the nanoparticles into the drilling fluid base.
8As the particles move into the small pores and fractures of the exposed rock, the effective permeability is reduced, making it less likely that drilling fluids will bleed into the formation and weaken the wellbore.
8With less formation damage, it also becomes less likely that wellbore walls will collapse in on a drillstring, a common problem known as stuck pipe. And when the proper balance of fluids and well pressure is not effectively managed, even worse issues can arise such as a blowout.
8Technology now enable to redesign the shape, size, and function of nanoparticles to address a number of different drilling conditions.
8It is time for Indian E&P operators to look at this fascinating new technology
Click on Reports for more Details
The global shipping market has seen a hardening of rates
8Many investors are now looking at the market once again and buying and selling transactions are showing an upswing.
8Over the last month, Panamaxes and modern Supras seem to have attracted investors’ interest.
8For reference purposes, the website carries here a full list of second hand sales of ships in recent times
Click on Reports for more Details
8Many investors are now looking at the market once again and buying and selling transactions are showing an upswing.
8Over the last month, Panamaxes and modern Supras seem to have attracted investors’ interest.
8For reference purposes, the website carries here a full list of second hand sales of ships in recent times
Click on Reports for more Details
ONGC's KG-DWN-98/2 project is one of the active Subsea Umblicals, Risers & Flowlines (SURF).
8Some level of local contribution will be needed in the project.
8Can some select Indian companies partner with the likes of SURF companies such as Sub Sea 7?
8For reference purposes, the website carries here the details of active SURF projects around the world as of today for our reader's perusal.
8There is also a projection that there will an increase in SURF activity around the world in the next 18 months
Click on Reports for more Details
8Some level of local contribution will be needed in the project.
8Can some select Indian companies partner with the likes of SURF companies such as Sub Sea 7?
8For reference purposes, the website carries here the details of active SURF projects around the world as of today for our reader's perusal.
8There is also a projection that there will an increase in SURF activity around the world in the next 18 months
Click on Reports for more Details
Iran has vast gas resources and its gas sector is opening up rapidly to foreign investments.
If Indian companies are looking for business development prospects, the opportunities are in:
8Construction of large and small scale LNG plants,
8FLNG
8Construction of CNG facilities
8Gas to wire business,
8Energy efficiency projects
Click on Reports for more Details
If Indian companies are looking for business development prospects, the opportunities are in:
8Construction of large and small scale LNG plants,
8FLNG
8Construction of CNG facilities
8Gas to wire business,
8Energy efficiency projects
Click on Reports for more Details
For reference purposes the website carries here the following tenders:
8Survey of under ground assets using ground penetrating radar system for BS-IV flare project Details
8Supply of PRS at various pipeline tapoff locations Details
8Post Construction Audit and Hazop for C23, GAIL, Vijapur Details
8“Hiring of Services for ROU (Right of User) for laying of pipeline network of surface facility." Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8China Oct crude oil output drops to lowest since May 2009 Details
8PETRONAS looks to expand its business in India Details
8Oil taking on green sheen Details
8GAIL scraps $7-bn LNG tender Details
8Chevron's Gorgon LNG resumes production after brief outage Details
8India’s fuel demand surges 6.7 per cent in October Details
8RIL's partner Niko puts KG-D6 stake for sale Details
You can also click on Newsclips for more Details
8Survey of under ground assets using ground penetrating radar system for BS-IV flare project Details
8Supply of PRS at various pipeline tapoff locations Details
8Post Construction Audit and Hazop for C23, GAIL, Vijapur Details
8“Hiring of Services for ROU (Right of User) for laying of pipeline network of surface facility." Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8China Oct crude oil output drops to lowest since May 2009 Details
8PETRONAS looks to expand its business in India Details
8Oil taking on green sheen Details
8GAIL scraps $7-bn LNG tender Details
8Chevron's Gorgon LNG resumes production after brief outage Details
8India’s fuel demand surges 6.7 per cent in October Details
8RIL's partner Niko puts KG-D6 stake for sale Details
You can also click on Newsclips for more Details
ONGC is actively perusing the drilling of two onland exploratory wells at a cost of around Rs 300 crore
8Sources said that clearances are likely by June, 2017
Click on Details to find out more Details
8Sources said that clearances are likely by June, 2017
Click on Details to find out more Details
For reference purposes the website carries here the following tenders:
8Design, Engineering, manufacturing, Inspection including inspection by TPIA, testing at manufacturers works, packing, supply of the pipes Details
8Procurement of Clamps for 20” Pipeline for KG-OSN-2001/3 BLOCK Details
8Marine,Storage-cum Erection- All Risk Insurance policy for new lean gas compressor project of ONGC Details
8Pipes Permanent Cathodic Works for Phulpur- Haldia pipeline project and Auraiya- Phulpur section of Vijapur-Auriaya-Phulphur pipeline project Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8KG-Basin gas migration penalty: Reliance serves arbitration notice on govt Details
8Bharat Petroleum second quarter net profit jumps 26 per cent on higher crude throughput Details
8India pushing ahead with oil, gas projects with Iran: Pradhan Details
8ONGC Videsh Ltd to help Venezuela's national oil firm raise $318 million Details
8Crude oil benchmarks tumble 3 per cent after OPEC data adds to glut worries Details
8Tamil Nadu farmers hail oil ministry's decision to cancel CBM project Details
8Tajpur port not to hinder Rs 500 crore Haldia Multi-Modal Terminal project Details
8GLOBAL LNG-Gorgon production outage, tenders lift spot prices Details
You can also click on Newsclips for more Details
8Design, Engineering, manufacturing, Inspection including inspection by TPIA, testing at manufacturers works, packing, supply of the pipes Details
8Procurement of Clamps for 20” Pipeline for KG-OSN-2001/3 BLOCK Details
8Marine,Storage-cum Erection- All Risk Insurance policy for new lean gas compressor project of ONGC Details
8Pipes Permanent Cathodic Works for Phulpur- Haldia pipeline project and Auraiya- Phulpur section of Vijapur-Auriaya-Phulphur pipeline project Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8KG-Basin gas migration penalty: Reliance serves arbitration notice on govt Details
8Bharat Petroleum second quarter net profit jumps 26 per cent on higher crude throughput Details
8India pushing ahead with oil, gas projects with Iran: Pradhan Details
8ONGC Videsh Ltd to help Venezuela's national oil firm raise $318 million Details
8Crude oil benchmarks tumble 3 per cent after OPEC data adds to glut worries Details
8Tamil Nadu farmers hail oil ministry's decision to cancel CBM project Details
8Tajpur port not to hinder Rs 500 crore Haldia Multi-Modal Terminal project Details
8GLOBAL LNG-Gorgon production outage, tenders lift spot prices Details
You can also click on Newsclips for more Details
Opinion was divided among members of the PNGRB over grant of authorization to Adani Gas Ltd Vodadara City Gas Network.
8Two members of the Board have rejected Adani's claim on the basis of the milestone that an entity should have made a financial commitment of 25% of tthe DFR value before the Appointed Day
8A third member of the Board however sided with Adani's representation. He questioned the authorization criteria adopted by the PNGRB, claiming that Board's selection milestones neither objective nor transparent.
8Adani was denied "natural justice" and both the GAIL JV and Adani should be accommodated in the same geographical area, claimed this view.
Click on Reports for more Details
8Two members of the Board have rejected Adani's claim on the basis of the milestone that an entity should have made a financial commitment of 25% of tthe DFR value before the Appointed Day
8A third member of the Board however sided with Adani's representation. He questioned the authorization criteria adopted by the PNGRB, claiming that Board's selection milestones neither objective nor transparent.
8Adani was denied "natural justice" and both the GAIL JV and Adani should be accommodated in the same geographical area, claimed this view.
Click on Reports for more Details
Is the oil market looking up?
8Oil demand is likely to grow by 1.23 mb/d in 2016, according to October projections by OPEC
8In contrast supply is going to shrink by 0.78 mb/d
8Product Markets and Refining Operations
8Product markets in the Atlantic Basin continued to strengthen in October. The positive performance of the middle of the barrel, amid stronger demand and falling inventories, allowed gasoil crack spreads to show a sharp recovery.
8Tanker market sentiment experienced a general improvement in October, as freight rates in both dirty and clean segments of the market increased. Dirty tanker spot freight rates averaged 13% higher over the previous month on the back of improved tonnage requirements and seasonal demand, with VLCCs achieving the highest gains. Chartering activities edged up in October, although mostly remaining below year-ago levels.
8OECD total commercial stocks fell in September to stand at 3,052 mb, but was still some 304 mb above the five-year average
8Eventually, the outlook for the markets will depend upon how quickly the stock overhang problem is resolved.
Click on Reports for more Details
8Oil demand is likely to grow by 1.23 mb/d in 2016, according to October projections by OPEC
8In contrast supply is going to shrink by 0.78 mb/d
8Product Markets and Refining Operations
8Product markets in the Atlantic Basin continued to strengthen in October. The positive performance of the middle of the barrel, amid stronger demand and falling inventories, allowed gasoil crack spreads to show a sharp recovery.
8Tanker market sentiment experienced a general improvement in October, as freight rates in both dirty and clean segments of the market increased. Dirty tanker spot freight rates averaged 13% higher over the previous month on the back of improved tonnage requirements and seasonal demand, with VLCCs achieving the highest gains. Chartering activities edged up in October, although mostly remaining below year-ago levels.
8OECD total commercial stocks fell in September to stand at 3,052 mb, but was still some 304 mb above the five-year average
8Eventually, the outlook for the markets will depend upon how quickly the stock overhang problem is resolved.
Click on Reports for more Details
Even in tough times, Great Eastern Shipping continues to stay ahead, albeit with lower profits.
8The company's cash flows are down and so are profits but return on equity is still in reasonably positive territory.
8It continues to bet on the future, buying both dry carriers and tankers
Click on Reports for more Details
8The company's cash flows are down and so are profits but return on equity is still in reasonably positive territory.
8It continues to bet on the future, buying both dry carriers and tankers
Click on Reports for more Details
The website carries here the latest update and business development opportunities in Sagarmala, India's port development initiative, which speaks of a massive Rs 400,000 crore of investments over a 20 year period.
8The annual agency-wise break-up of capital expenditure is a useful tool for business development mangers to follow up on the investments envisaged.
8Specific key contacts can then be identified within these agencies to find out when the opportunities will translate into RFQs.
8Preliminary RFQ floatations have begun for pre-feasibility and feasibility studies in some of the envisaged projects.
8The data is broken down into project-wise and agency-wise capex figures.
8The latest update provides the perspective required to conduct follow-up business development work.
Click on Reports for more Details
8The annual agency-wise break-up of capital expenditure is a useful tool for business development mangers to follow up on the investments envisaged.
8Specific key contacts can then be identified within these agencies to find out when the opportunities will translate into RFQs.
8Preliminary RFQ floatations have begun for pre-feasibility and feasibility studies in some of the envisaged projects.
8The data is broken down into project-wise and agency-wise capex figures.
8The latest update provides the perspective required to conduct follow-up business development work.
Click on Reports for more Details
The central government authorization given to Vadodara Gas Ltd, a JV between GAIL and Vadodara Municipal Sewa Sadan, has finally been accepted by the PNGRB after a long and bitter struggle.
8The infrastructure exclusivity has been granted till 2023 but the common carrier exclusivity has been given for three years.
8The project milestones for the marketing exclusivity period has also been defined.
8There are also clear business development opportunities available, as the JV is now mandated to significantly improve its steel pipeline network and its compression capacity.
Click on Reports for more Details
8The infrastructure exclusivity has been granted till 2023 but the common carrier exclusivity has been given for three years.
8The project milestones for the marketing exclusivity period has also been defined.
8There are also clear business development opportunities available, as the JV is now mandated to significantly improve its steel pipeline network and its compression capacity.
Click on Reports for more Details
Nothing exemplifies the problems facing the Indian oil and gas industry better than a pre-budget memorandum.
8A recent such petition submits a long list of suggestions in the direct and indirect taxation regime that will enable all segments of the industry to push ahead.
8Many of these suggestions are real barriers to growth and they figure in repeated pre-budget memorandums.
8Quite a few of the recommendations seek clarifications in tax laws while others require financial sacrifice from the central exchequer.
8Some involve future loss of tax revenue for the government but a big step up in investment is projected if concessions are extended. Clearly, there is a quid-pro-quo involved: A potential loss of revenue against a possible increase in investment.
8To be able to settle some of the outstanding demands, the government can call a meeting where finance and petroleum ministry officials are present and industry representatives are invited so that there is appreciation on both sides of the issues at hand.
8A study can perhaps be done of how tax codes of other countries closer home, such as China, Indonesia or Vietnam are structured and whether lessons can be drawn from their success.
8Under a new government that is capable of thinking laterally, the pre-budget memorandum can become a tool to bring about sustentative change.
8It should not become another petition that is lost in the heap of memorandums that is routinely submitted to North Block every November.
Click on Reports for a full copy of the pre-budget memorandum. Details
8A recent such petition submits a long list of suggestions in the direct and indirect taxation regime that will enable all segments of the industry to push ahead.
8Many of these suggestions are real barriers to growth and they figure in repeated pre-budget memorandums.
8Quite a few of the recommendations seek clarifications in tax laws while others require financial sacrifice from the central exchequer.
8Some involve future loss of tax revenue for the government but a big step up in investment is projected if concessions are extended. Clearly, there is a quid-pro-quo involved: A potential loss of revenue against a possible increase in investment.
8To be able to settle some of the outstanding demands, the government can call a meeting where finance and petroleum ministry officials are present and industry representatives are invited so that there is appreciation on both sides of the issues at hand.
8A study can perhaps be done of how tax codes of other countries closer home, such as China, Indonesia or Vietnam are structured and whether lessons can be drawn from their success.
8Under a new government that is capable of thinking laterally, the pre-budget memorandum can become a tool to bring about sustentative change.
8It should not become another petition that is lost in the heap of memorandums that is routinely submitted to North Block every November.
Click on Reports for a full copy of the pre-budget memorandum. Details
Subsequent to environment ministry clearance, site work has begun on a Rs 800 crore crude jetty.
8Equipment requirements -- including marine loading rams -- are being firmed up.
8Project is expected to be completed by March, 2019.
8The jetty will be capable of berthing 150,000 DWT fully laden Suezmax carriers and250,000 DWT light loaded VLCCs
Click on Reports for more Details
8Equipment requirements -- including marine loading rams -- are being firmed up.
8Project is expected to be completed by March, 2019.
8The jetty will be capable of berthing 150,000 DWT fully laden Suezmax carriers and250,000 DWT light loaded VLCCs
Click on Reports for more Details
There are still adequate business development activities in the D-6 block.
8Drilling of the first of two planned sidetrack wells in the MA field commenced in June 2016
8Production from this well began ramping up at the beginning of October 2016, and drilling of the second well has commenced.
8It remains a moot point however by how much output will go up as a result as some of the side tracking activities did not post good results earlier.
8More side tracking work is on the drawing board depending upon the success of these wells.
Click on Reports for more Details
8Drilling of the first of two planned sidetrack wells in the MA field commenced in June 2016
8Production from this well began ramping up at the beginning of October 2016, and drilling of the second well has commenced.
8It remains a moot point however by how much output will go up as a result as some of the side tracking activities did not post good results earlier.
8More side tracking work is on the drawing board depending upon the success of these wells.
Click on Reports for more Details
RIl's D-6 output declined from 11.86 mmscmi n Q2 2015-16 to 8.19 mmscmd in Q2 2016-17
8The fall has happened despite side tracking activities in the company's wells in the D-6 block
8The notified price for natural gas sales from the D6 Block for April 2016 to September 2016 was $3.06 / MMbtu based on the gross calorific value (“GCV”) of the sales gas, which was approximately 35 percent lower than the price for the April 2015 to September 2015 period and approximately 20 percent lower than the price for the October 2015 to March 2016 period.
8The notified price for gas sales from the D6 Block for October 2016 to March 2017 is $2.50 / mmbtu GCV, a decrease of 18 percent from the notified price for April 2016 to September 2016 and a decrease of approximately 34 percent from the price prior to adoption of the New Domestic Natural Gas Pricing Guidelines, effective November 1, 2014.
Click on Reports for more Details
8The fall has happened despite side tracking activities in the company's wells in the D-6 block
8The notified price for natural gas sales from the D6 Block for April 2016 to September 2016 was $3.06 / MMbtu based on the gross calorific value (“GCV”) of the sales gas, which was approximately 35 percent lower than the price for the April 2015 to September 2015 period and approximately 20 percent lower than the price for the October 2015 to March 2016 period.
8The notified price for gas sales from the D6 Block for October 2016 to March 2017 is $2.50 / mmbtu GCV, a decrease of 18 percent from the notified price for April 2016 to September 2016 and a decrease of approximately 34 percent from the price prior to adoption of the New Domestic Natural Gas Pricing Guidelines, effective November 1, 2014.
Click on Reports for more Details
Get the latest status report on the Made in India programme involving the Indian shipping industry
8Find the latest updates on the Ease of Doing Business in the port sector in India
8Business development managers can also look for opportunities in our report on new port building activity around the corner
8Get the latest developments in the Sagarmala programme
Click on Reports for more Details
8Find the latest updates on the Ease of Doing Business in the port sector in India
8Business development managers can also look for opportunities in our report on new port building activity around the corner
8Get the latest developments in the Sagarmala programme
Click on Reports for more Details
ONGC is tentatively dipping its feet into the big data tapping.
8It is seeking presentations on data aggregation and analytics from the huge pool of big data that emanates out of its offshore drilling rigs.
8Big data analysis and finding trends in the analysis is the new frontier in E&P technology.
Click on Reports for more Details
8It is seeking presentations on data aggregation and analytics from the huge pool of big data that emanates out of its offshore drilling rigs.
8Big data analysis and finding trends in the analysis is the new frontier in E&P technology.
Click on Reports for more Details
A tender is to be floated for Surge Relief Valves required for two locations in a cross country pipeline
8The cost of the project is pegged at around Rs 10 crore
8Tenders are to be floated within the next two weeks to a month
Click on Details for more. Details
8The cost of the project is pegged at around Rs 10 crore
8Tenders are to be floated within the next two weeks to a month
Click on Details for more. Details
Full scale project activity is expected for a Rs 400 crore port expansion plan after environmental clearances are elicited sometime in December, 2016
The project involves:
8An oil jetty
8A barge jetty
8A barge port
Click on Details for full information Details
The project involves:
8An oil jetty
8A barge jetty
8A barge port
Click on Details for full information Details
For reference purposes the website carries here the following tenders:
8Procurement of Rigging Equipments Details
8Annual Rate Contract (ARC) for Drager Make Portable Gas Detectors for a Period of Two Years (2016-18) at CPCL, Manali. Details
8Civil jobs for construction of outlets under Ahmedabad RO Details
8Testing of Pipelines, HPCL Details
8External Safety Audit, GAIL Details
8Rate Contract for Condition Monitoring at GAIL-VIjaipur Details
8Hiring of Services by ONGC for Annual Maintenance (AMC) of Cement Testing Equipment for a period of 03 (Three) years. Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8How would Trump’s victory impact the energy sector? Details
8Global oil output hits new record Details
8Discovered small fields may be offered in first HELP round Details
8Centre to power economy through gas-based energy: Pradhan Details
8Oil Ministry probes role of ONGC, DGH officials in RIL gas flow case Details
8India's fuel demand rose 8.1 percent year-on-year in October Details
8Experts call for India-B'desh cooperation in gas exploration Details
You can also click on Newsclips for more Details
8Procurement of Rigging Equipments Details
8Annual Rate Contract (ARC) for Drager Make Portable Gas Detectors for a Period of Two Years (2016-18) at CPCL, Manali. Details
8Civil jobs for construction of outlets under Ahmedabad RO Details
8Testing of Pipelines, HPCL Details
8External Safety Audit, GAIL Details
8Rate Contract for Condition Monitoring at GAIL-VIjaipur Details
8Hiring of Services by ONGC for Annual Maintenance (AMC) of Cement Testing Equipment for a period of 03 (Three) years. Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8How would Trump’s victory impact the energy sector? Details
8Global oil output hits new record Details
8Discovered small fields may be offered in first HELP round Details
8Centre to power economy through gas-based energy: Pradhan Details
8Oil Ministry probes role of ONGC, DGH officials in RIL gas flow case Details
8India's fuel demand rose 8.1 percent year-on-year in October Details
8Experts call for India-B'desh cooperation in gas exploration Details
You can also click on Newsclips for more Details
The CBEC in a recent circular on service tax liability on use of wireless spectrum stated that all periodic payments such as royalty on use of natural resources will attract 15% service tax.
8As per the circular, service tax will be applicable with retrospective effect from FY16.
8Upstream companies have decided to contest the levy and have already taken the matter to Oil Ministry and Ministry of Finance.
8This will create a massive liability for oil and gas industry
8Find out more on how this will impact the E&P industry.
Click on Reports to find out more Details
8As per the circular, service tax will be applicable with retrospective effect from FY16.
8Upstream companies have decided to contest the levy and have already taken the matter to Oil Ministry and Ministry of Finance.
8This will create a massive liability for oil and gas industry
8Find out more on how this will impact the E&P industry.
Click on Reports to find out more Details
If Asian buyers continue to divert their contracted supply from the US towards Europe and Latin America, it will reduce demand for LNG vessels in the long term by cutting down on long-haul trade
8The long term outlook for the LNG industry continues to be bullish and rates are expected to improve substantially from 2018 onwards.
8One of the major reasons for this outlook is the expansion in US LNG supply.
8Since most new LNG export capacity in the US will start to come online from 2018 onwards and almost 85-90% of this supply has been tied to contracts, the trade was expected to create a demand for a large number of vessels.
8However, the LNG market has changed considerably from the time when these contracts were signed and so Asian buyers are looking to offload their contractual supply elsewhere.
8In such a scenario, the demand-supply imbalance will take a longer time to even out.
8Meanwhile, the latest LNG day rates for vessels have come down and have stayed low over the last few weeks.
Click on Prices and Reports to find out more on our database on daily LNG carrier hire rates Details
8The long term outlook for the LNG industry continues to be bullish and rates are expected to improve substantially from 2018 onwards.
8One of the major reasons for this outlook is the expansion in US LNG supply.
8Since most new LNG export capacity in the US will start to come online from 2018 onwards and almost 85-90% of this supply has been tied to contracts, the trade was expected to create a demand for a large number of vessels.
8However, the LNG market has changed considerably from the time when these contracts were signed and so Asian buyers are looking to offload their contractual supply elsewhere.
8In such a scenario, the demand-supply imbalance will take a longer time to even out.
8Meanwhile, the latest LNG day rates for vessels have come down and have stayed low over the last few weeks.
Click on Prices and Reports to find out more on our database on daily LNG carrier hire rates Details
For reference purposes, the website carries here a paper on how change is happening in the energy sector faster than what was anticipated in the past.
8The inability to grasp these changes will result in grave financial risk, particularly for E&P companies.
8Unfortunately however, Indian companies continue to give short shrift to what is just around the corner.
8And they do this to their peril
Click on Reports for more Details
8The inability to grasp these changes will result in grave financial risk, particularly for E&P companies.
8Unfortunately however, Indian companies continue to give short shrift to what is just around the corner.
8And they do this to their peril
Click on Reports for more Details
The website carries here a presentation on the performance of Oil India Ltd. (OIL)
8The company's financials are strong and it projects a vision of itself by the year 2030.
8Business development opportunities are likely to be available for equipment and service providers
8The problem however is that the company does not address how it plans to handle the exigencies of climate change over the next 15 years when a tax on carbon and other regulations will begin to kick in hard.
8The Vision 2030 for the company will undergo significant course correction going along, as disruptive technology and decarbonization begin to make a difference to every E&P company in the world.
8As of now OIL is unprepared for the future. The immediate prospect for the company is good, and there is a "buy" recommendation is out but the future remains fuzzy, particularly with some of its high value assets in Mozambique and Colombia, and also closer home.
Click on Reports for more Details
8The company's financials are strong and it projects a vision of itself by the year 2030.
8Business development opportunities are likely to be available for equipment and service providers
8The problem however is that the company does not address how it plans to handle the exigencies of climate change over the next 15 years when a tax on carbon and other regulations will begin to kick in hard.
8The Vision 2030 for the company will undergo significant course correction going along, as disruptive technology and decarbonization begin to make a difference to every E&P company in the world.
8As of now OIL is unprepared for the future. The immediate prospect for the company is good, and there is a "buy" recommendation is out but the future remains fuzzy, particularly with some of its high value assets in Mozambique and Colombia, and also closer home.
Click on Reports for more Details
High profitability has emboldened Indian Oil Corporation to push for a higher capex plan going ahead.
8In the current year, the capex on refineries is pegged at Rs 3400 crore, pipelines Rs 1300 crore, marketing Rs 4800 crore and petrochemicals Rs 1000 crore
8The capex plan over the next five to seven years is significant, at Rs 175000 to 183000 crore.
8In this, refineries will get an allocation of Rs 50000 crore, pipelines Rs 22000 crore, marketing Rs 40000 crore, E&P around Rs 30000 crore and petrochemicals Rs 29000 crore
8Due diligence and feasibility reports on some of these investments have already begun and business development managers must dig in to find out more
Click on Reports for more details on IOC Details
8In the current year, the capex on refineries is pegged at Rs 3400 crore, pipelines Rs 1300 crore, marketing Rs 4800 crore and petrochemicals Rs 1000 crore
8The capex plan over the next five to seven years is significant, at Rs 175000 to 183000 crore.
8In this, refineries will get an allocation of Rs 50000 crore, pipelines Rs 22000 crore, marketing Rs 40000 crore, E&P around Rs 30000 crore and petrochemicals Rs 29000 crore
8Due diligence and feasibility reports on some of these investments have already begun and business development managers must dig in to find out more
Click on Reports for more details on IOC Details
What kind of benchmarks should ONGC use for arriving at the Last Purchase Price (LPP) was put to test in some recent tenders, according to highly placed sources.
8This is particularly true for nomination contracts or those that are extended pending finalization of current tenders, and where there are multiple LPPs.
Click on Details for more Details
8This is particularly true for nomination contracts or those that are extended pending finalization of current tenders, and where there are multiple LPPs.
Click on Details for more Details
Business development mangers should be on the lookout for additional work likely to come up in a big onland exploratory drilling programme in the KG Basin.
8The area is turning out to be prospective.
8The latest update is that three wells have been drilled and two have found gas.
8The fourth well is being drilled and a fifth will be underway in December, 2016
8More exploratory drilling is proposed.
Click on Details to find out more Details
8The area is turning out to be prospective.
8The latest update is that three wells have been drilled and two have found gas.
8The fourth well is being drilled and a fifth will be underway in December, 2016
8More exploratory drilling is proposed.
Click on Details to find out more Details
ONGC is now on the lookout for new tech power generators with additional environmental friendly features.
8Generators with arrestors will be preferred to reduce notice pollution significantly.
8Then again the emphasis will be on high performance, as the emphasis will be to reduce air pollution.
8The anticipation is that there will be an overall tightening of norms for generators and ONGC wants to ensure that it will be in step with future regulations in this segment Details
8Generators with arrestors will be preferred to reduce notice pollution significantly.
8Then again the emphasis will be on high performance, as the emphasis will be to reduce air pollution.
8The anticipation is that there will be an overall tightening of norms for generators and ONGC wants to ensure that it will be in step with future regulations in this segment Details
A jack-up rig and associated facilities are expected to deployed for a two well offshore drilling programme.
8Business development requirement will be coming up sometime after May, 2017 when all clearances are likely to be in place.
8The water depth will be around 300-350 feet.
8The wells will deploy new state-of-art drilling and environment protection technology
Click on Details for more Details
8Business development requirement will be coming up sometime after May, 2017 when all clearances are likely to be in place.
8The water depth will be around 300-350 feet.
8The wells will deploy new state-of-art drilling and environment protection technology
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Item Rate Contract for pipeline and CP Maintenance, Cherlapally Details
8Procurement of Pressure, Differential Pressure and Temperature Transmitters, Visakhapatnam Details
8Supply of Methanol, Pata Details
8Procurement of 4450 MT of Butene for LLDPE/ HDPE unit Details
8Sale of Condensate produced from KG-OSN-2001/3 Offshore Block, Kakinada Details
8Wrapping & coating jobs for inspection of underground Dumad cross country pipelines Details
8Procurement of Hydrogen Gas and Mafron Gas, Digboi Refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil stumbles as Trump stuns markets with White House win Details
8Call for regional gas grid at Agartala energy conference Details
8If petrol pump refuses to accept Rs 500 and Rs 1000, govt. will rescue: Dharmendra Pradhan Details
8Total says Trump's election will not have an impact on Iran gas deal Details
8European renewable stocks fall on concern Trump will cut support Details
8State oil firms to give away 10 million free cooking gas connections by March Details
8Experts call for India-B’desh cooperation in Gas Exploration Details
8Carbon emissions reduction: India Inc is already on the job Details
8Tata Motors, Indian Oil, Petronet and petroleum ministry join to launch India's first LNG bus Details
8Fuel consumers can breathe easy as Opec cuts price outlook Details
8OPEC: ‘Coal is Fuel of Choice for India, China until 2040’ Details
8Scrapping of Rs 500 & Rs 1,000 notes doubles petrol, diesel sales overnight Details
8Rs 500, Rs 1,000 notes still valid at fuel outlets: Oil PSUs Details
You can also click on Newsclips for more Details
8Item Rate Contract for pipeline and CP Maintenance, Cherlapally Details
8Procurement of Pressure, Differential Pressure and Temperature Transmitters, Visakhapatnam Details
8Supply of Methanol, Pata Details
8Procurement of 4450 MT of Butene for LLDPE/ HDPE unit Details
8Sale of Condensate produced from KG-OSN-2001/3 Offshore Block, Kakinada Details
8Wrapping & coating jobs for inspection of underground Dumad cross country pipelines Details
8Procurement of Hydrogen Gas and Mafron Gas, Digboi Refinery Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil stumbles as Trump stuns markets with White House win Details
8Call for regional gas grid at Agartala energy conference Details
8If petrol pump refuses to accept Rs 500 and Rs 1000, govt. will rescue: Dharmendra Pradhan Details
8Total says Trump's election will not have an impact on Iran gas deal Details
8European renewable stocks fall on concern Trump will cut support Details
8State oil firms to give away 10 million free cooking gas connections by March Details
8Experts call for India-B’desh cooperation in Gas Exploration Details
8Carbon emissions reduction: India Inc is already on the job Details
8Tata Motors, Indian Oil, Petronet and petroleum ministry join to launch India's first LNG bus Details
8Fuel consumers can breathe easy as Opec cuts price outlook Details
8OPEC: ‘Coal is Fuel of Choice for India, China until 2040’ Details
8Scrapping of Rs 500 & Rs 1,000 notes doubles petrol, diesel sales overnight Details
8Rs 500, Rs 1,000 notes still valid at fuel outlets: Oil PSUs Details
You can also click on Newsclips for more Details
While the Indian shipping industry is going through an extraordinarily difficult situation, one of company that seems to be able to withstand the crisis is Great Eastern Shipping Company.
8The projections are that the company will be able to maintain its performance even through the weather has turned rough
8The company has put together a dynamic risk management programme that is keeping it out of the woods
8The ability of the company to strategically deploy its fleet amid difficult industry scenario, while maintaining profitability and a strong financial risk profile seems to be its plus points.
Click on Reports for more Details
8The projections are that the company will be able to maintain its performance even through the weather has turned rough
8The company has put together a dynamic risk management programme that is keeping it out of the woods
8The ability of the company to strategically deploy its fleet amid difficult industry scenario, while maintaining profitability and a strong financial risk profile seems to be its plus points.
Click on Reports for more Details
New research shows that the oil growth will peak as early as 2030.
8Oil is used predominantly in the transportations sector and demand will slow down due to the advent of the electric vehicles and also because diesel and petrol vehicles become more efficient.
8This means that the price of oil will remain extremely volatile till 2030
Click on Reports for more Details
8Oil is used predominantly in the transportations sector and demand will slow down due to the advent of the electric vehicles and also because diesel and petrol vehicles become more efficient.
8This means that the price of oil will remain extremely volatile till 2030
Click on Reports for more Details
As of now, new research shows that energy-related greenhouse-gas emissions will rise 14 percent in the next 20 years.
8That is not what needs to happen to keep the planet from warming another two degrees, the goal of the 2015 Paris climate conference.
8Emissions are likely to flatten our around 2035, a little too late to keep temperatures below the 2 degree mark.
8The fact that the world is likely to add another 1.5 billion more people by 2035 and the global GDP will rise by about half over that period will not help keep global warming down. All those people will need to eat and work, and that means more energy.
8The only redeeming feature is that concerted global action to reduce greenhouse-gas emissions, for example, could change the arc of these trends.
8Technological disruptions could also bend the curve.
Click on Reports for more Details
8That is not what needs to happen to keep the planet from warming another two degrees, the goal of the 2015 Paris climate conference.
8Emissions are likely to flatten our around 2035, a little too late to keep temperatures below the 2 degree mark.
8The fact that the world is likely to add another 1.5 billion more people by 2035 and the global GDP will rise by about half over that period will not help keep global warming down. All those people will need to eat and work, and that means more energy.
8The only redeeming feature is that concerted global action to reduce greenhouse-gas emissions, for example, could change the arc of these trends.
8Technological disruptions could also bend the curve.
Click on Reports for more Details
The oil and gas industry will see little impact from Narender Modi's announcement banning black money.
8Given the predominance of the state sector companies and the accountability systems in vogue in this segment, the announcement will have no impact on the industry.
8There could at best be a temporary fall in petrol and diesel consumption as consumers transit from old to new bank notes.
8Other consumer facing interfaces may see a temporary respite.
8oil sector involves big investments and all transactions are accounted for, and to that extent the impact of the announcement is negligible.
Click on Reports for more. Details
8Given the predominance of the state sector companies and the accountability systems in vogue in this segment, the announcement will have no impact on the industry.
8There could at best be a temporary fall in petrol and diesel consumption as consumers transit from old to new bank notes.
8Other consumer facing interfaces may see a temporary respite.
8oil sector involves big investments and all transactions are accounted for, and to that extent the impact of the announcement is negligible.
Click on Reports for more. Details
Drilling for a two-well development programme by a state-owned oil company in Rajasthan will begin in January, 2017.
8Well commissioning is expected in June-July, 2017
8Drilling and civil work contracts have already been awarded
Click on Details for more Details
8Well commissioning is expected in June-July, 2017
8Drilling and civil work contracts have already been awarded
Click on Details for more Details
The RFQs for long lead items for stage-1 of an appraisal well development programme by a private operator are expected to be out by February-March, 2017.
8The drilling programme is currently undergoing environmental clearance
Click on Details for more Details
8The drilling programme is currently undergoing environmental clearance
Click on Details for more Details
RFQs are expected from ONGC for a 26 well exploratory drilling programme by around mid-November, 2016
8Tenders are expected in February, 2017.
8The project is worth around Rs 800 crore
Click on Details for more Details
8Tenders are expected in February, 2017.
8The project is worth around Rs 800 crore
Click on Details for more Details
For reference purposes the website carries here the following tenders:
8Supply of Compressor Spares, Digboi Refinery Details
8Supply of Mass flow meter, Digboi Refinery Details
8Rate Contract for supply of Liquid Nitrogen Gas Details
8Civil and Piping works for new process units for Panipat, Gujarat, Haldia and Bongaigaon Refineries Details
8Supply of X-Mass Tree Assembly, Assam Details
8Supply of Dimethyl Disulfide for Hydrocracker unit, Motorspirit Plant and Wax Hydrofinishing Unit Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Foreign lenders question Ruia's motive to pay back Details
8Gas plant operators to profit most from higher European power prices Details
8Oil down slightly on inventory rise; market wary on U.S. vote Details
8India discontinues 500 and 1000 rupee currency notes Details
8Foreign investors seek speedy resolution of Tata-Mistry feud Details
8ONGC seeks complete autonomy on pricing of natural gas to boost output Details
8Venezuela's PDVSA announces crude oil spill in Anzoategui state Details
8Oil investor impatience grows over global surplus Details
8India's first liquefied natural gas-powered bus rolls out in Kerala Details
You can also click on Newsclips for more Details
8Supply of Compressor Spares, Digboi Refinery Details
8Supply of Mass flow meter, Digboi Refinery Details
8Rate Contract for supply of Liquid Nitrogen Gas Details
8Civil and Piping works for new process units for Panipat, Gujarat, Haldia and Bongaigaon Refineries Details
8Supply of X-Mass Tree Assembly, Assam Details
8Supply of Dimethyl Disulfide for Hydrocracker unit, Motorspirit Plant and Wax Hydrofinishing Unit Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Foreign lenders question Ruia's motive to pay back Details
8Gas plant operators to profit most from higher European power prices Details
8Oil down slightly on inventory rise; market wary on U.S. vote Details
8India discontinues 500 and 1000 rupee currency notes Details
8Foreign investors seek speedy resolution of Tata-Mistry feud Details
8ONGC seeks complete autonomy on pricing of natural gas to boost output Details
8Venezuela's PDVSA announces crude oil spill in Anzoategui state Details
8Oil investor impatience grows over global surplus Details
8India's first liquefied natural gas-powered bus rolls out in Kerala Details
You can also click on Newsclips for more Details
For reference purposes the website carries here the following tenders:
8Provision of PCC below product and hydrant Pipelines at CBMT, Narimanam Details
8Rate contract for fabrication of mild steel horizontal liquid petroleum storage tanks Details
8Supply of Gas Detectors, Haldia Refinery Details
8EIA & RA study for Ramanathapuram-Tuticorin section Details
8Procurement of Magnetic Level Instruments for BS VI Project Details
8Fabrication and supply of Skid Mounted Production Crew Hut, Jodhpur Details
8IRC for calibration of various instruments fitted at compressor station, Chhainsa Details
8Engagement of agency for root cause analysis Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Shipping fuel change to upend refining - and threaten OPEC crudes Details
8Penalty of $1.55 bn on RIL grossly exaggerated: Brokerages Details
8Now, cashless LPG deliveries with Freecharge Details
8Brazil could pay Petrobras up to $16 billion over rights, Itaú BBA says Details
8OVL to provide $318 M financing guarantee to Venezuela Details
8Oil leaders meet in Abu Dhabi, hoping market now at bottom Details
8ONGC seeks full autonomy on gas pricing Details
8CNG, PNG arrive in city Details
8India may shortly move towards dynamic petroleum product pricing model Details
8KTC ties up with IOC for high speed diesel supplies Details
8Gadkari wants oil cos to shut shop and shift to bio fuels Details
8ONGC finds more oil, gas offshore India Details
8Indian Oil Corporation Ltd updates on JV Details
You can also click on Newsclips for more Details
8Provision of PCC below product and hydrant Pipelines at CBMT, Narimanam Details
8Rate contract for fabrication of mild steel horizontal liquid petroleum storage tanks Details
8Supply of Gas Detectors, Haldia Refinery Details
8EIA & RA study for Ramanathapuram-Tuticorin section Details
8Procurement of Magnetic Level Instruments for BS VI Project Details
8Fabrication and supply of Skid Mounted Production Crew Hut, Jodhpur Details
8IRC for calibration of various instruments fitted at compressor station, Chhainsa Details
8Engagement of agency for root cause analysis Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Shipping fuel change to upend refining - and threaten OPEC crudes Details
8Penalty of $1.55 bn on RIL grossly exaggerated: Brokerages Details
8Now, cashless LPG deliveries with Freecharge Details
8Brazil could pay Petrobras up to $16 billion over rights, Itaú BBA says Details
8OVL to provide $318 M financing guarantee to Venezuela Details
8Oil leaders meet in Abu Dhabi, hoping market now at bottom Details
8ONGC seeks full autonomy on gas pricing Details
8CNG, PNG arrive in city Details
8India may shortly move towards dynamic petroleum product pricing model Details
8KTC ties up with IOC for high speed diesel supplies Details
8Gadkari wants oil cos to shut shop and shift to bio fuels Details
8ONGC finds more oil, gas offshore India Details
8Indian Oil Corporation Ltd updates on JV Details
You can also click on Newsclips for more Details
Driven by emergency pollution levels, and goaded on by the media and the public, the Indian political system is capable of taking drastic steps to reduce pollution.
8A call similar to to one made by the California Air Resources Board is possible too though to some it may look a little impractical.
8Globally, even the biggest oil and gas majors. leave alone their Indian counterparts, look the other way when it comes to discussion on the impact of electric vehicles on their businesses
8Exxon projects less than 10% plug-in-hybrid and electric vehicles (PHV/EV) by 2040, while companies such as Shell and BP offering a vague projection of renewables powering less than 10% of all transport by 2035/2040.
8The ten oil and gas companies are working with a renewables market share of global electric power of between 10% (Exxon) and 33% (Eni) by 2040.
8This compares with the IPCC's projection of “more than 80%” share for low-carbon energy in the electricity sector by 2050.
8It is time for the oil and gas major in India to wake up and take notice.
8Climate change will hit them the hardest unless they begin to take proactive steps from now.
Click on Reports for more Details
8A call similar to to one made by the California Air Resources Board is possible too though to some it may look a little impractical.
8Globally, even the biggest oil and gas majors. leave alone their Indian counterparts, look the other way when it comes to discussion on the impact of electric vehicles on their businesses
8Exxon projects less than 10% plug-in-hybrid and electric vehicles (PHV/EV) by 2040, while companies such as Shell and BP offering a vague projection of renewables powering less than 10% of all transport by 2035/2040.
8The ten oil and gas companies are working with a renewables market share of global electric power of between 10% (Exxon) and 33% (Eni) by 2040.
8This compares with the IPCC's projection of “more than 80%” share for low-carbon energy in the electricity sector by 2050.
8It is time for the oil and gas major in India to wake up and take notice.
8Climate change will hit them the hardest unless they begin to take proactive steps from now.
Click on Reports for more Details
Indian oil companies can draw lessons from a report carried here that examines the ten largest integrated oil and gas majors in North America and Europe and looks at how thoroughly they are disclosing on some key climate-related metrics likely to have a major impact on the future shape and value of their businesses.
8Like with this study, Indian companies will also need to identify climate issues currently being driven in part by significant regulatory pressures which are likely to impact revenue streams and costs
8Eventually, climate change disclosures are likely to become routine in India
8The factors that will have an influence are: a price on carbon, zero emission vehicles, renewable power generation and greenhouse gas emission standards and targets.
Click on Reports for more Details
8Like with this study, Indian companies will also need to identify climate issues currently being driven in part by significant regulatory pressures which are likely to impact revenue streams and costs
8Eventually, climate change disclosures are likely to become routine in India
8The factors that will have an influence are: a price on carbon, zero emission vehicles, renewable power generation and greenhouse gas emission standards and targets.
Click on Reports for more Details
The key risk to Indian oil marketing companies will be the proliferation of zero emission vehicles (ZEV) and hybrids resulting in decreasing demand for petroleum products used in road vehicles
8Indian companies have very little idea as yet or any reliable projections for ZEV penetration and impact on gasoline and diesel sales.
8So refinery expansion plans are being made without taking this vital aspect into account.
8It is now well known that a fundamental change is underway in the automotive markets motivated mostly by climate regulations.
8The California Air Resources Board now wants 100% of the new vehicles sold in California to be ZEV by 2030.
8A recent study concluded that ZEVs may be more economic than gasoline powered ones by 2020.
8Last year ZEV sales grew by about 60% globally. Volkswagen estimates 20-25% of its new sales will be electric and hybrid by 2025 with Nissan targeting a figure of 20% all electric for Europe by 2020. Honda has a target of 60% by 2030 and market leader Toyota a 100% of new vehicle sales by 2050, both targets include all hybrids and zero emission vehicles.
Click on Reports for more Details
8Indian companies have very little idea as yet or any reliable projections for ZEV penetration and impact on gasoline and diesel sales.
8So refinery expansion plans are being made without taking this vital aspect into account.
8It is now well known that a fundamental change is underway in the automotive markets motivated mostly by climate regulations.
8The California Air Resources Board now wants 100% of the new vehicles sold in California to be ZEV by 2030.
8A recent study concluded that ZEVs may be more economic than gasoline powered ones by 2020.
8Last year ZEV sales grew by about 60% globally. Volkswagen estimates 20-25% of its new sales will be electric and hybrid by 2025 with Nissan targeting a figure of 20% all electric for Europe by 2020. Honda has a target of 60% by 2030 and market leader Toyota a 100% of new vehicle sales by 2050, both targets include all hybrids and zero emission vehicles.
Click on Reports for more Details
