OIL has done some sustained drilling and workover campaigns in its Rajsathan gas fields. As a consequence gas production has gone up.
8Output is now more than 1 mmscmd and OIL is looking for buyers
8But OIL already has a GSPA with a buyer for 0.7 MMSCMD though offtake is lower
8The problem with a new buyer is he does not really know how much gas he will get on a regular basis, even though OIL claims there will be around 0.45 to 0.55 mmscmd available because the current offtaker has been under performing on its commitment
Click on Reports for more Details

An onland development drilling programme is also coming up.
8An onland electrical drilling rig is to be hired
8The rig will have a capacity to drill up to 4500 metres
8Other attendant facilities will also be required
Click on Reports for more on what will be needed Details

The Gulf region is massively increasing its petrochemical capacity. And Indian manufacturers must watch this development carefully.
8One region why petrochemical prices from the region will be competitive is because feedstock prices are under $ 2/mmbtu, after it was more than doubled in 2016
8This provides a massive advantage and may act as a price cap for Indian petrochem manufacturers. There will be import pressure as well if demand does not keep growing rapidly.
8The other trend is the heavy usage of ethane and liquid petroleum gas (LPG) as feedstock, implying production of olefins such as ethylene and methanol largely dominates capacity; whilst aromatics obtained from oil derivative (naphtha) comprises under one fifth of total output.
8Saudi Aramco, for example, has worked out a $ 100 billion expansion plan over the next 10 years, making it among the world's largest producer of petrochemicals.
8Then again, Iran -- the world’s largest holder of gas reserves -- plans to double petrochemicals capacity (which totaled 60mn tonnes in 2014) by 2021
8This ambitious target depends on attracting foreign direct investment estimated at US$7-10bn/year and new technologies to upgrade infrastructure and build new units after decades of decay caused by international sanctions.
8Many companies are lining up now to invest in Iran
Click on Reports for more Details

For reference purposes the website carries here the following tenders:
8Procurement of GI Fittings for City Gas Projects Details
8Expression Of Interest for purchase of land for Saharanpur CGD Projects Details
8Expression of Interest from reputed and interested Contractors for carrying out Geotechnical investigations in rivers, as a pre-engineering requirement before laying pipelines Details
8Project Management Consultancy Services for Design, Development and setting up of Emergency Response Centres at five locations in india Details
8Certification of Water Treatment Plant and Drilling Rigs for a period of three years Details
8Supply of Instrumentation Tubes and Fittings Details
8Procurement of Pressure Vessels at refinery Details
8Supply of Portable Multi-gas Detector Module and Standalone Multi gas detector at refinery Details
8Procurement of Diethyl Aluminium Chloride Details
8Procurement of Internal Corrosion Monitoring system Details
8Supply of Pressure Vessels CS for BS VI Project Details
You can also click on Tenders for more   
For reference purposes the website carries here the following Newsclips:  
8India to hire consultant for setting up first gas trading exchange Details
8Essar Oil UK PAT jumps three times to $169 million in first half current fiscal Details
8China's Hebei province puts $707 million for coal-to-gas switch Details
8BPCL sends proposal to Oil Ministry to integrate with GAIL, Oil India Details
8Highest ever ethanol offers accepted/finalized by OMCs; says ISMA Details
8Coal India looking to buy stakes in overseas coking coal mines Details
8Essar Oil UK working on plan to prepare the company for next growth phase Details
8New Zealand's Contact Energy sells Ahuroa Gas Storage facility for $139.6 mln Details
8Morocco, European Union discuss strengthening cooperation in energy sector Details
8Oil prices stable on lower US crude stocks, but rising output weighs Details
8Canadian offshore oil interest grows as pipeline woes sink Alberta prices Details
8Compliance with crude oil output cuts at highest level: Kuwait minister Details
8Essar Oil UK wants to fly high on jet fuel for future growth Details
8Indian refiner BPCL prepared to integrate with GAIL, Oil India Details
You can also click on Newsclips for more    Details

8Project Name: Hydroelectric Plant (Unit-1) Maintenance Project
8Project Cost: 18 crores
8Project Description: The owner has planned a 25-day scheduled maintenance of Unit-1 (130 MW) in the 520 MW (4*130 MW) Hydro Power Station covering an annual overhaul of equipment which includes overhauling of auxiliary parts of the turbo-generator set, bearing sets, seals, casing and transformer auxiliaries.
8Equipment required will be turbine bearings, gland seals, pipes, spiral casing, spiral drain valve, checking and replacing of transformer auxiliary parts, nozzles, cleaning of field winding of stator and rotor, among others.
8Project Event: RFQs for equipment are expected by fourth week of December 2017.
8Expenditure Approval: Q2:2017
8RFQ Date: 31/Dec/2017
8Release Date: 10/Jan/2018
8Start Date: 25/Jan/2018
8Completion Date: 18/Feb/2018
Click here for more information
8Project Name: Economizer Coil in Thermal Power Station - O&M supply
8Project Cost: 5 crores
8Project Description: The owner is planning to replace the existing economizer coil assembly, LTSH supply tubes and straight tube panels in the economizer section of boiler in Unit-1 (210 MW) in the 1050 MW (5*210 MW) thermal power station. The eco-coil failure rate is very high and the owner will procure a new eco-coil to avoid the frequent failure, subsequently loss of generation will also be reduced. Bid documents are under finalization stage, subsequently the procurement team of the owner will come out with a bid for an economizer coil.
8Project Event: RFQ for purchase of new economizer coil is expected by Q1 2018.
8Expenditure Approval: Q2:2017
8RFQ Date: Q1:2018
8Release Date: Q1:2018
8Start Date: Apr/2018
8Completion Date: May/2018
Click here for more information Details

8Indian cement industry sources expressed shock over the latest hike in the import duty on petcoke to 10%, up from the existing duty of 2.5%. Around 65% of the petcoke in India is consumed by the cement sector, with 20% used for steam generation and the rest by other industries. Where does the industry go from here? Find out more. Click on Report.
8The government is planning to role out a massive grid connected solar rooftop scheme. Will that impact the gas industry in some ways? Find out more. Click on Report.
8Coal demand is going to stay high in India until 2022, says a new report. For more Click on Report.
8High frequency data of information flow direction between Indian and US crude oil futures market can be used to devise profitable trading strategies. Find out more. Click on Report for more. 
8Why are the owners buying up company shares in Great Eastern Energy Corp Ltd? Is there something going on? Click on Report for more.
8Get the Drilling tools industry revenue, price and gross margin report 2022. Click on Report for more.
8VLCC owners resisted further falls and then managed to claw back a little lost ground as Charterers moved to mop up remaining December positions. Click on Report for more.
8Tumbling deferentials for US Gulf Coast medium sour crudes as part of an end-of-year selloffs are opening arbitrage opportunities for those grades to move across the Atlantic Ocean or head east. Click on Report for more.
8India’s coal growth promises opportunities for dry bulk carriers. Click on Report for more.
8Why are forecasters offering different oil outlooks for 2018. Find out more. Click on Report.
8Crude oil & gas production data for November, 2017. Click on Report for more. Details

The proponents of marine CNG sees the following advantage of CNG over LNG:
8Marine CNG is significantly cheaper than LNG - approximately 1/3 - 1/6th of the capital cost
8What is more these ships are re-deployable as 85% of costs are in the ships. By contrast, LNG consists mostly of sunk costs in fixed liquefaction export facilities and LNG import facilities
8Marine CNG ships and fleets can be sized to fit the initial market, followed by future investments phasing in only when the markets materialize.
8Ships can be added incrementally (phased in) as the market demand volumes grow
8Marine CNG can be sized to suit the market with minimal oversized capacity and thus no wasted Capex or Opex
8Opex increases only as actual volumes increase. LNG Opex is 100% of plant capacity regardless of sales volumes needed.
8CNG ships have the flexibility to deliver gas over a broad range of volumes
8CNG has minimal fixed infrastructure – the ships can be re-deployed to new applications
8These ships can be operational within maximum 3-4 years vs LNG development taking 6-8 years.
8Ships can be re-deployed to other operations at end of field life
Click on Reports for more Details

10 Chinese government ministries have ordered a deeper penetration of clean heating fuels in the country's heartland.
8This is going to further fuel the demand for gas in China, with implications for the LNG prices going ahead.
8There is also an emphasis on security of gas supply, thus providing a renewed impetus to coal-to-gas projects.
8Find out more on what is going on in China and how it is going to eventually impact you in India.
 Click on Reports for more Details

The first long-term deal for gas from the Mozambique LNG project -- in which the Indian trio of ONGC, GAIL and BPCL are heavily invested -- has been struck
8But is that enough to kick-start the project?
8Are there more deals to follow?
8When the likely start of work date?
Click on Reports for more Details

Of the three three technically qualified EPC contractors in the race for three 6,000 crore ammonia-urea plants, one is reported have baulked at the prospect of matching the quote of the L-1 bidder.
8This made the Rs 18,000 crore deal a two-horse race.
8Eventually one of the bidders have now been recommended to build two of the plants
8The L-1 bidder will build just one plant.
8The board level decision on award of contracts is expected soon.
Click here for full details in terms of equipment needed, who will be the procurers, future RFQ dates, key contacts and dozens of other project parameters that our unique project monitoring software can deliver like no one else in India.
We employ a large team of engineers to collect information straight from the ground and we are always the first to break the news.
   Details

8Project Name: Offshore Field Development.
8Project Cost: Rs 1000 crore.
8Project Description: Promoter is planning the development of an offshore field. The project involves drilling of new wells, involving an Electrical Submersible Pump system, 1 new well platform and a 3 well clamp-on structure along with associated pipelines and power cables.  At present, oil production in the field is about 35,000 bopd. A peak oil production of 5000 bopd in the year 2019-20, with an incremental oil production of 2 MMT, is envisaged from the project.
Further RFQs for the project are expected shortly.
8Project Event: RFQs for hiring an EPC contractor for supply and installation of a well platform along with associated pipelines and power cables are expected by mid-January 2018 instead of December 2017.
8Expenditure Approval: 23/Feb/2017.
8RFQ Date: 15/Jan/2018.
8Release Date: Q1/2018.
8Start Date: Q2/2018.
8Completion Date: Nov/2019.
Click here for more details
8Project Name: DG Set Hiring.
8Project Cost: Rs 5 crore
8Project Description: Promoter is planning to hire Diesel Generators (DG Sets) for ongoing projects. The project involves supply as well as maintenance of Gensets on annual contract basis for an overall period of 3 years. The contractor shall be responsible for the supply of fuel. Further RFQs for the project are expected shortly.
8Project Event: RFQ for hiring Diesel Gensets is expected by January 2018.
8Expenditure Approval: Sep/2017
8RFQ Date: 15/Jan/2018
8Release Date: Feb/2018
8Start Date: Mar/2018
8Completion Date: Mar/2021
Click here for more information
8Project Name: Refinery Greenfield Project
8Project Cost: Rs 200000 Crore
8Project Description: An existing company is planning to construct a refinery in a joint venture for which the consultant has already been hired for preparing all documentation works. Land acquisition work has been completed. Currently, they are looking for a consultant to do the Topographical Survey.
8Project Event: RFQ for Project Management Consultant is to be expected by February 2018.
8Expenditure Approval: Q1:2017
8RFQ Date: Feb/2018
8Release Date: Mar/2018
8Start Date: Q2:2018
8Completion Date: Jul:2023
Click here for more details.
8Project Name: Refinery BS-VI Greenfield Project
8Project Cost: Rs 513 Crore
8Project Description: An existing company along with EPCM contractor and licensor is planning to construct an IndselectG unit with a capacity of 80 KTPA to reduce sulfur from the indmax light gasoline and coker gasoline for making MS components to meet BS-VI MS pool specification at its refinery. RFQ for pump, compressor, heat exchanger and underground pipes are already out and the selection is under completion.
8Project Event: RFQ for procuring equipment is expected by January 2018.
8Expenditure Approval: Q3:2017
8RFQ Date: Jan/2018
8Release Date: Feb/2018
8Start Date: Jan:2018
8Completion Date: Q1:2020
Click here for more details. Details

8Iran is entitled to discuss the Farzad-B field with other countries if they choose to, says petroleum ministry. Click on Report for more.
8Ministry says deal with Japan in place for development of a flexible LNG market. Does not comment on whether there is a cargo swapping arrangement in place. Click on Report for more.
8Bio-fuel blending far below target: Ethanol blending with petrol is around 2% and biodiesel blending percentage in diesel is less than 0.5 %. Click on Report for more.
8The website carries here the total state-wise number of RO and CNG dealerships and CNG stations in the country as at present and the number that is tentatively planned to be set up by Oil Marketing Companies (OMCs) throughout the country in 2017-18. Click on Report for more.
8Details of foreign trips undertaken by public sector companies in the last three years. Click on Report for more.
8Daily pricing of petrol and diesel has benefited customers. OMCs explain why. Click on Report for more.
8Surat-Paradeep pipeline: Lack of firm anchor customers has put work on hold. Click on Report for more.
8GAIL has held number of discussions with Cheniere Energy (Sabine Terminal) and Dominion Cove Point LNG LP (DCP Terminal) for re-negotiation of 5.8 MMTPA of LNG offtake contracts. The discussions have been held at the working level as well as management level. The most recent discussions with both the parties were held during the month of November, 2017. But no results have been forthcoming yet. Click on Report for more.
8Local people are opposed to the work sought to be carried out on a E&P field awarded under the Discovered Small Field (DSF) Policy bid round 2016 in Tamil Nadu. Find out more. Click on Report.
8OMCs have identified a total of 6149 new locations to set up LPG distributorships. Click on Report for more.
8Details of two cases of breach of contact in the KG Basin are enumerated here. Click on Report for more.
8The global ranking of public sector oil companies has gone up. Find out more. Click on Report.
8A full update on the government's LPG plans. Click on Report for more.
8Is a Petroleum Economic Zone possible in India? Find out more. Click on Report.
8Round up on strategic storage facilities in India. How much actual storage capacity does India have? Have the underground capacities built been filled up? Click on Report for more.
8No subsidies planned for gas based power as of now. Find out more. Click on Report.
8Surprise inspections in retail outlets. How many instances of malpractices have been caught? What is being done to stop such malpractices? Click on Report for more.
8What are the steps India is taking to promote a gas-based economy? Click on Report for more.
8LPG connectivity: Get the latest update. Click on Report for more.
8An update on CNG connectivity in India. Click on Report for more.
8Data on average yearly price of Indian basket of crude. Click on Report for more.
8Business development opportunity for onland expansion of a POL terminal. Click on Report for more.
8The Indian line pipe industry is dominated by a handful of big players but smaller players are now making inroads. Find out more. Click on Report. Details

SSP-Sulphuric Acid & NPK Fertilizer Expansion Project 
8Cost - Rs 75 Crore
8Project Description: A Fertilizer Company is awaiting environmental clearance for the expansion of its Single Super Phosphate capacity from 140000 TPA to 580000 TPA, Granulated NPK Fertilizer from 45000 TPA to 440,000 TPA and Sulphuric acid from 40000 TPA to 140000 TPA in India. The equipment requirements are Crane, Hopper, Feeder, Conveyor, Valve, Grinding Mill, Tank, Separator, Pump, ID Fan, Collector, Generator Mixer, Den, Scrubber, Screen, Mill, Elevator, Drum, Furnace, Cyclone, Blower, Fan, Belt, Weighing machine, Steam Turbine Generators, Economizers, Reheaters, Boilers, Sulphur Combustor, Drying Towers, Absorbers, Absorber Exchangers, Sulphur filters, Sulphuric Melting Tank, motor, Pumps and more
8Project Event: RFQ for a contractor is likely to be released in Q1 2018.
Click here for more information
NPK-SSP & Sulphuric Acid Expansion Project 
8Cost - Rs 15 Crore
8Project Description: A Fertilizer Company is awaiting environmental clearance for its expansion of Single Super Phosphate Unit from 66000 TPA to 200000 TPA, Granulated NPK Fertilizer from 60000 TPA to 200000 TPA, Sulphuric acid from 33000 TPA to 50000 TPA  in India.The equipment requirements are Crane, Hopper, Feeder, Conveyor, Valve, Grinding Mill, Tank, Separator, Pump, ID Fan, Collector, Generator Mixer, Den, Scrubber, Screen, Mill, Elevator, Drum, Furnace, Cyclone, Blower, Fan, Belt, Weighing machine, Steam Turbine Generators, Economizers, Reheaters, Boilers, Sulphur Combustor, Drying Towers, Absorbers, Absorber Exchangers, Sulphur filters, Sulphuric Melting Tank, motor, Pumps and more.
8Project Event: RFQ for a contractor is likely to be released in Q1 2018.
 Click here for more information
SSP/NPK Annual Maintenance Project
8Cost - Rs 0.33 Crore
8Project Description: A Fertilizer Company is planning an annual shutdown maintenance in Q2 2018 at their existing fertilizer complex in India. The existing capacity is made up of 165000 MTPA of SSP and 81600 MTPA of Sulphuric Acid. Pre-Vendor Qualification may be necessary for a maintenance contractor.
8Project Event: RFQ for a maintenance Contractor is likely to be released in Q1 2018.
Click here for more information Details

8Project Name: Thermal Power Station - FGD Addition
8Project Cost: 350 crores
8Project Description: The owner is planning the installation of a Flue Gas Desulphurization (FGD) unit at its 630 MW (3*210 MW) unit. The company is expected to float tenders for the same. At present, site survey activities are ongoing for feasibility report to be submitted to the CEA for approval. Work on the project is meant to start in early 2019. RFQ for supply of FGD is expected to be out by Q3 2018.
8The major requirements will be FGD, stacker and reclaimer, earthwork, cranes, pipes, installation, gypsum disposal, wet limestone, among others.
8Project Event: RFQ for supply of FGD is expected to be out by Q3 2018.
8Expenditure Approval: Q1:2018
8RFQ Date: Q3:2018
8Release Date: Q1:2019
8Start Date: 2019
8Completion Date: 2021
Click here for more information
8Project Name: Greenfield Hydro Project
8Project Cost: 1100 crores
8Project Description: The owner along with a PFR consultant WAPCOS is carrying out site survey activities for scoping an environment clearance for a 168 MW (4*42 MW) greenfield hydroelectric project. TOR has been granted on 02 December 2015. Currently site survey and investigation activities for baseline data for three seasons are underway which would take a year to complete. The owner after preparation of the DPR will decide either to come up with package wise or an EPC contract. The owner will come out with an EOI for a EIA consultant soon.
8Project Event: RFQ for an EIA consultant is expected by Q2 2018.
8Expenditure Approval: Q1:2018
8RFQ Date: Q2:2018
8Release Date: Q4:2018
8Start Date: Q2:2020
8Completion Date: Q3:2024
Click here for more information Details

The uncertainty in the global is such that by 2022, the upside estimate of crude oil price is $123/bbl while the floor estimate is an incredible $30.8
8In the next couple of years however, abundant shale oil supply will ensure that while prices may spurt in the short term, they will settle down below the $60 band
8This is account of a lot of fresh supply coming in at breakevens below $60/bbl
8The biggest uncertainty in the future oil pricing matrix is the eventual impact on supply of under investment in conventional onshore and offshore fields
Click on Reports for more Details

What really is going in with the petroleum coke market in India?
8Given India's massive import volumes, coke prices are reacting negatively to news of banning of use of coke in Gujarat and the NCR. What are the current price lines and what are the projections?
8Find out more on how new norms are squeezing out traders from the Indian market
8Find out more on how weak domestic demand is forcing Indian producers to cut prices and look abroad
8Instead of an outright ban on coke imports, Indian policy makers are looking at other ways of curbing imports. Find out more
8Will the government allow petroleum coke use as a feedstock rather than as a fuel?
8Find out more on how RIL's coke gasifier start-up complicate plans for an import ban
8Also know more about how the coke ban is pushing up coal demand in India?
8Find out more on IOC's Rs 20,000 crore coke gasification plan. How will coke demand-supply work in this context, and where is IOC going to source its coke for its giant plans?
Click on Reports for more Details

What is going on with the Mozambique project currently?
8Have binding HOAs for the LNG to produced found?
8What is the status of ongoing financing arrangements for the project?
8What is the planned initial size of the LNG capacity?
Click on Reports for more Details

Where is the next wave of LNG supply coming in from?
8It will come from equity capable of taking market risk
8Big balance sheets are going to be important, as low cost of capital will be necessary
8They will require a few other characteristics to survive
Click on Reports for more   Details

China is increasingly pushing its aggressive policies to the oil sector
8Its latest campaign is to push its oil trading to a Yuan-dominated currency format
8Reports are emerging that China has also offered an outright purchase of five percent stakes in Saudi Aramco in return for Yuan-dominated sales by Saudi Arabia.
8The deal provides It provides oil-thirsty China with a stake in the world’s largest and most integrated oil company, and it helps Riyadh bypass the stringent regulations for listing on major capital markets, which Aramco is finding increasingly difficult to meet.
Click on Reports for more Details

Also find out more about how China is trouncing the US to emerge as the global clean energy leader
8How has this subtle transformation happened?
8What are the consequences of the US seceding this role?
8Where is the China-dominated world headed from here?
Click on Reports for more   Details

For reference purposes the website carries here the following tenders:
8Providing vermiculite Based Fire Proofing of Structural Steel Supports, Vessel, Equipment, Pipe Lines at MRPL Plant Details
8Hiring of Services of Mobile Steam Generator Unit for Rajasthan Field Details
8Storage and Supply of Bulk Bitumen of around 25000 mt at East Coast of India and 5000 MT at West Coast Details
8Execution of various miscellaneous Civil Engineering works related to Production testing related works Details
8Expert Services for Coke Cutting system package at refinery Details
8Carrying out Civil and UG Piping Works at different units of refinery Details
8Supply of Turbine Gas Flow Meters for gas company Details
8Supply, Installation and Commissioning of Ultrasonic Flow Meters at refinery Details
8Service Assistance required during commissioning of Golai Terminal Project of refinery Details
You can also click on Tenders for more   
For reference purposes the website carries here the following Newsclips:  
8GAIL's Rs 357 crore claim against Deepak Fertilisers rejected in arbitration Details
8Bosnian, Russian gas firms to form a joint venture to build LNG plant Details
8Farmers protest BJP move to study GAIL project in Tamil Nadu Details
8Nigerian oil union calls for strike after talks with companies hit deadlock Details
8Iraq plans crude oil pipeline network to cover all its territory: Oil Minister Details
8The biggest voices in global oil market disagree on the outlook for 2018 Details
8U.S. renewable fuel industry relieved as Republicans keep tax credits Details
8Initial Zohr output raises Egypt's natural gas production to 5.5 bcf daily-minister Details
8Oil minister Pradhan inaugurates Eastern India's first CNG stations Details
8GAIL starts supply of CNG for scooters and three-wheelers in Bhuabneshwar Details
8Venezuela gives Russia's Rosneft gas field concessions: Rosneft Details
8Cuban President Castro and Russian oil executive meet in Havana Details
8ONGC tears into DGH proposal to sell its oil, gas fields Details
8Essar Oilfields Services sees revenue rising to $48 million Details
8Oil markets little changed on lack of price drivers Details
You can also click on Newsclips for more    Details

A bunch of three ammonia-urea plants -- worth Rs 18,000 crore -- are coming up for placement of orders in the coming month.
8The units are to be distributed to three EPC contractors at a common price that is currently under negotiations. One bidder has emerged as the lowest for all three units and the owners are negotiating to provide one unit to each of the three bidders at a negotiated cost equivalent or lower than the offer of the lowest bidder.
8The equipment requirements are: Compressors, Turbines, Exchangers, Vaporizers, Subcoolers, Filters, Pumps, Heaters, Towers, Vessels,Storage systems, Cooler, Furnaces, Stacks, Converters, Boilers, Drums, Blowers, Economizers, Preheaters, Reactors, Tanks, Reactors, Evaporators, Condensers, Separators, Ejectors, Absorbers, Prilling towers, Absorbers, Heat exchangers, Columns Generators along with offsites and utilities.
8This is a big volume of orders by any yardstick and it is important for equipment and service suppliers to be in the know.
8The completion timelines are aggressive.
8The full information, along with key owner and possible sub-contractor contacts, multiple project and unit parameters, equipment requirements and utility matrices are carried here.
Those subscribing to our petroleum site however will not have access to this information and they will have to get in touch with our marketing department for more information on how to get get access.
Those with access can Click here for more information Details

Progress is slowly happening for the gigantic refinery-cum-petrochemicals complex under Ratnagiri Refinery and Petrochemicals Ltd.
8Preliminary clearances are now being sought
8Terms of references are in the process of being granted
8Pre-qualifications probes will be taken up even as the initial feasibility reports come in
Click on Reports for more Details

After the 30 November agreement between the OPEC and Russia to extend oil production cuts until the end of 2018, it is worth looking again at the balance between oil supply and demand.
8The most recent data indicate that without continued OPEC’s willingness to limit supply, the market will be naturally tilted towards oversupply in 2018 and 2019.
8Oil demand is expected to expand at the current pace for some years to come, and there is eventually going to be a limit to US shale output, leaving the mantle in the hands of low cost OPEC producers to fill in the gap
8It is only then will prices go up
8Not in the next two years
Click on Reports for more Details

A big set of orders will be coming up Q-1 next year when tenders for a  high capacity Floating Production Storage and Offloading unit and a Sub-Sea Production and SURF are finalized. These will be orders worth a massive Rs 20,000 crore.
8The website carries here the full matrix of these investments, including key owner contacts as of now, along shortlisted contractor details.
As the projects proceed, we will provide you regular updates with a minimum gap of two weeks on progress achieved, so as that you are constantly kept abreast of the developments.
8Project Name: Floating Production Storage and Offloading Unit.
8Project Cost: Rs 6500 crore.
8Project Description: Promoter is planning charter hiring of a turret moored FPSO for an offshore project. The peak production rates to be envisaged from the project are 15000 m3/day of oil 4 MMSCMD of gas. The expected lease term for the FPSO is 10 years fixed and 7 years additional as an option. The design life of FPSO should be 22 years. A notice regarding the pre-qualification criteria (PQC) was floated from promoter's end. Currently, the PQC round is going on and is expected to end in a week or two. Those shortlisted will be selected for next round of technical bidding round.
8Project Event: RFQ for techno-commercial bidding round is expected by January 2017.
8Expenditure Approval: Q2/2016.
8RFQ Date: Jan/2018.
8Release Date: Feb/2018.
8Start Date: Jun/2018.
8Completion Date: 2020.
Click here for more details
8Project Name: Subsea Production System and SURF
8Project Cost: Rs 13000 crore
8Project Description: Promoter is planning development of an offshore field. $ 2 billion tender for the integrated Sub Sea Production System (SPS) and Subsea Umbilical Riser and Flow (SURF) in the project is split up into the following four components:
 Subsea Production System (SPS): $ 930 million 
 Subsea Umbilical Riser and Flowline (SURF): $ 950 million 
 Support for the SPS for the entire life of the field: $ 40 million
 Rental tools needed for completion purpose: $ 135 million
 Currently, the process of PQC (pre-qualification criterion) is going on and is expected to end in a week or two. Further RFQs are expected shortly.
8Project Event: RFQs for hiring an EPC contractor for wellhead platform and pipelines is expected by November end 2017.
 8Expenditure Approval: 23/Feb/2017
 8RFQ Date: 25/Nov/2017
 8Release Date: Q1/2018
 8Start Date: Q2/2018
 8Completion Date: Nov/2019
 Click here for more information  Details