Policy
Iran Nuclear Deal Not To Impact Oil Prices In 2015
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New Subsidy Mechanism For Gas Based Power Plants Innovative But…
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ONGC’s Diversification Both Strategic And Tactical?
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LPG Subsidy Issue Calls For A Firm Approach, Not Appeals
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RIL-BP Downstream Venture Still In Wait-and-watch Mode?
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Regulation
Retrospective Declaration Of Commerciality For Discovery SE-1?
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Cairn India May Not Get 10 Year Extension For Rajasthan PSC
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ONGC To Begin Drilling 2 Appraisal Wells In KG Offshore Block
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Relief For Niko Resources As Cairn Makes Counter-Claims
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Cabinet Approves Gas Pooling For Fertiliser Units
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Alternative Energy / Fuel
Curbs On Ethanol Supply Sought To Be Liberalised
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India’s Praj Industries Gets Ethanol Plant Order
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New Projects
MoU Signed For Surat-Paradip Gas Pipeline Project
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Budgetary Support For Strategic Crude Storage Program
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Oilex Makes Progress On Construction Of Oil And Gas Production Facilities
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Market Watch
MRPL To Buy LSFO For May
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IGL, GSPC, Adani Cut CNG, PNG Prices
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Petcoke: Sluggish Conditions Persist
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Companies
CHEMIZOL
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OIL To Recast Corporate Strategy With McKinsey’s Help
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IOC Crude Throughput Volumes Remain Flat in 2014-15
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ONGC To Increase Production From Tripura Wells
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ONGC To Invest Rs 400 Billion In K-G Basin
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Gulf Oil, Schwing Stetter Tie Up To Market Co-branded Lubricants
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Press Release [FREE Access]
Latest Exclusives

April 17, 2015: On Thursday, (April 16) we carried details of the existing LNG infrastructure in the country. We have now obtained the list of RLNG terminals planned, most of which are by private parties. It is difficult to predict how many of them will finally come up. Click Column Gas Scene for details.


April 16, 2015: India began developing LNG regasification capacity only in the recent years. All the existing terminals lie on the West Coast of the country. Most of the existing terminals operate at 75% capacity utilization except the Kochi terminal which has been operating at very low utilization levels (~10%) due to delays in pipeline construction connecting it to various customers in Kerala and Tamil Nadu. For details click Column Gas Scene.

April 15, 2015: The ONGC management has finally succeeded in arresting the decline in crude production. It was a herculean task and the management can take credit for achieving the turnaround. We have collected the production data for the last few years to show how ONGC’s crude and gas production stagnated. Click Column Special Database for details.


April 13, 2015: When will India be ready for effective Gas-on-Gas competition? Not in the immediate future, according to a study made by Assochem. There are several preconditions to be met before it can be implemented. Click Column Gas Scene for details.

Latest Issue:  It looks like a terrible mess. The petroleum PSUs such as GAIL, IOC and BPCL which market Petronet LNG Ltd’s imported LNG from Qatar are finding the going extremely tough. Their customers find the gas price unaffordable as they are made to pay a price of $ 12/mmbtu against the prevailing international price of $ 6-7/mmbtu. The Take Or Pay clause prevents them from wriggling out of the contract. GAIL is the worst hit as it markets 60 per cent of the imported gas. Neither the PLL management nor the Ministry of Petroleum and Natural Gas seems to have attempted a way out. Click Free Access Column Petro Intelligence for details.

Today's News [FREE Access]
Centre preparing vision document for NE hydrocarbon sector'
April 18, 2015: Union Minister of State for Petroleum and Natural Gas Dharmendra Pradhan on Friday said the government is preparing a vision document for the hydrocarbon sector in India's northeast region. The initiative has already been taken to boost investment in the sector in the region, he added. Pradhan, who arrived   more..


RIL beats estimate
April 18, 2015: Strong operating performance from refining business and stable petrochemicals business lead to higher operating profits. Beating analysts’ expectations, Reliance Industries Ltd. (RIL), bolstered by better performance of its refining business, on Friday, reported a 8.5 per cent growth in its net profit at   more..


Refining comeback buoys RIL
April 18, 2015: The strong comeback of the refining business has saved Reliance Industries (RIL) the blushes in the March quarter. The other major segments — petrochemicals and oil & gas exploration — did badly. And, while the organised retail business has grown profit strongly year-on-year, its performance   more..


BPCL hires four banks for US dollar bond offering
April 18, 2015: Indian state-owned refiner Bharat Petroleum Corp has mandated four banks for a potential US dollar bond offering. Deutsche Bank, Citigroup, HSBC and Standard Chartered will lead the offering, the proceeds from which will be used for capital expenditure needs. The fundraising will be off the refiner's   more..


Anadarko considers selling Mozambique gas assets to Exxon
April 18, 2015: Anadarko Petroleum is considering selling its multi-billion dollar stake in Mozambique's giant gas reserves, with Exxon Mobil and Qatar Petroleum both showing interest, banking and industry sources said. Exxon is seen as the front runner, and it would be its first big acquisition since the oil price   more..


Indian delegation to visit Iran for oil talks
April 18, 2015: An Indian delegation is expected to visit Iran this week to discuss investment opportunities in Iran's oil industry as investment prospects in the country improve following a recent understanding with the P5+1 group over Tehran’s nuclear program. Officials from India's finance and oil ministries,   more..


Oil India commissions 54 MW wind energy project
April 18, 2015: Oil India, the nation’s second largest state-owned oil explorer, today said it has commissioned a 54 MW wind energy project in Gujarat and Madhya Pradesh. Saddled between the two States, the project is split between a 16 MW capacity plant at Patan in Gujarat and a 38 MW at Chandgarh in Madhya Pradesh,   more..


Global crude oil price of Indian Basket was US$ 60.23 per bbl on 16th April, 2015
April 18, 2015: The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 60.23 per barrel (bbl) on 16th April, 2015. This was higher than the price of US$ 58.36 per bbl on previous publishing day of   more..

Petropulse / Guest Column
Crude Oil Market: April Could Be Crucial
Ravinder KumarCurrently, crude oil production is in excess of little more than a million barrels per day. Most of the excess production is finding its home in storage tanks in USA. However, this situation cannot more...

IOG Exclusive
When Will Petronet LNG Management Open The Sealed Cover?
Prabhat SinghApril 6, 2015: The three-member Selection Committee headed by ONGC CMD D.K. Sarraf, after interviewing as many as 12 candidates, is understood to have recommended a panel of two for the post of MD and more...

Who Will Head Petronet LNG After A.K. Balyan?
P.K. BajpaiMarch 30, 2015: The Selection Committee headed by ONGC chairman D.K. Sarraf will be interviewing as many as 12 candidates on March 30 to select the next MD and CEO of Petronet LNG Ltd. Dr more...

Petronet LNG Ltd Acts With Speed In Selecting Its Chief Executive
March 24, 2015: Normally the government of India does not act with speed in selecting a chief executive even for the country’s top most public sector undertaking. Petronet LNG Ltd (PLL)s presided over by secretary of the Ministry of Petroleum and Natural Gas has swung into action at an amazing speed. PLL more...

Upstream Operators Worried Over Changes In Depreciation Allowance
February 20, 2015: Upstream operators received a communication from Ministry of Petroleum and Natural Gas (MoPNG) stating that Depreciation Schedule is a taxation issue falling under the Income Tax Act. Higher Depreciation Allowance for Oil wells (60%), continue to club with water wells (10%) The more...

MRPL To Use Mauritius Route To Enter Other African Countries
February 19, 2015: India’s state-owned Mangalore Refinery & Petrochemicals Ltd (MRPL) claims to have an excellent trade relations with the State Trading Corporation of Mauritius (STCM). The entire petroleum products requirements, including Diesel, Petrol, Jet Fuel and Fuel Oils, of Mauritius are met by MRPL since more...

Sharpooji Pallonji Offers To Partner In Developing ONGC’s Deepwater KG Block
February 9, 2015: For some mysterious reasons, Oil and Natural Gas Corporation (ONGC), India’s upstream major, went slow in developing oil and gas discoveries in its deep water KG block 98/2. Initially, it maintained that despite sixty years experience in E&P, it requires deep water expertise from foreign companies. more...

KG D6 Partner Niko Resources Runs Into Problems With Indian Government
February 5, 2015: Niko Resources of Canada has sought approval from the Indian government for creation of security interest over its participating interest in the D6 block (KG-DWN-98/3), a deep water block in Krishna-Godavari basin. Niko holds 10 per cent stake in the block. The operator of the field more...

IOC On The Feasibility of Importing Crude, LNG From Russia
February 2, 2015: Indian Oil Corporation says presently the freight differential of suezmax vessel from Baltic region vs Middle East Gulf to Indian West Coast is about $2.0/bbl, which needs to be compensated for rendering Russian crude oil grades competitive in IndianOil’s refining system. Russian more...

Problem Areas In PSC Model Under NELP
January 30, 2015: The production Sharing Contract (PSC) model under the New Exploration Licensing Policy (NELP) has certain problem areas. Ministry of Petroleum and Natural Gas (MoPNG) has been making efforts to identify these problems. Cost of unfinished work more...

Essar Seeks allocation of unallocated contiguous area along Raniganj (East)-CBM-2001/1 CBM block, West Bengal
January 23, 2015: Essar, Operator of Raniganj (East)-CBM-2001/1 CBM block, has requested for allocation of 16 sq. Km. and 7 sq. Km. contiguous unallocated area to them under Article 11.2 of the CBM contract for extraction of CBM gas. Further, Essar has sought permission to allow them to exploit CBM in the more...

Sale Price Of Condensate From RIL-Operated KG D6 A Bone of Contention?
January 22, 2015: Ministry of Petroleum and Natural Gas (MoPNG) sought and got from Hindustan Petroleum Corporation Ltd (HPCL) details of basis of the price which it agreed for purchase of condensate from RIL-operated KG D6. MoPNG asked its think tank PPAC to look into these details. PPAC has stated that the more...

Steering Committee Concerned Over Slow Progress In RIL-Operated CBM Blocks
January 21, 2015: Reliance Industries Ltd (RIL) is the operator of CBM blocks SP (East ) CBN-2001/1 and SP (West)-CBM -2001/1. Steering Committee (SC) raised concerns over slow progress of Development acclivities being carried out by RIL in the Blocks and directed RIL to speed up the Development more...

Govt. Approves Force Majeure For Adani Welspun’s Mumbai Block
January 20, 2015: Directorate General of Hydrocarbons (DGH) has updated the status of Mumbai Offshore Production Sharing Contract (PSC) block of Adani Welspun Exploration Ltd after the government approved 217 days of Force Majeure period. The Empowered Committee of Secretaries (ECS) had condoned the delay in more...

GAIL To Supply US LNG For Revival of Fertilizer plants at Gorakhpur, Barauni and Sindri
January 19, 2015: GAIL has committed to supply 2.4 MMSCMD of gas from its US contracted LNG for the revival of fertilizer plant at Gorakhpur. This commitment was made at a meeting taken by Prime Minister’s Principal Secretary. It now appears that GAIL has offered to supply LNG to Fertilizer plants at more...

NaftoGaz India-Duped Indian partners Asked To Hand Over Data & Information Of 3 PSC Blocks.
January 16, 2015: NaftoGaz India Pvt Ltd , a foreign company which faked its identity as an associate of Ukrainian state-owned NaftoGaz, had signed production sharing contracts with Indian partners for three blocks CB-ONN-2004/5, AA-ONN-2004/ and MZ-ONN-2004/2 .   more...

DeGolyer and MacNaughton (D&M) Submits Report on Gas premium for Deep, ultra deep and HPHT areas?
January 14, 2015: Has DeGolyer & MacNaughton submitted its report on gas premium for deep water and deep water and HP HT areas to the Indian government? There is no official confirmation, but knowledgeable sources say the report was finalized by January 10. The petroleum secretary has gone on record stating that the more...

E&P Operators Want Size Of Site Restoration Fund Raised
January 2, 2015: Production Sharing Contract (PSC) provides for site restoration/abandonment fund from the profits which will be entitled to tax exemption. At present there is a ceiling of 20 per cent of profits that can be deposited in site restoration fund.   more...

DGH Seeks Clarity On “Mineral Oil” In Next Union Budget
January 1, 2015: Directorate General of Hydrocarbons (DGH) has sought clarity on the term “mineral oil” to avail the tax holiday under Section 80 IB (9) of the Act   The term is understood to include Crude Oil and Natural Gas. However, clarity is lacking.   DGH contends that more...

Special Reports
Modi Government Expects Corporates, Indian & Foreign, To Pay Legitimate Tax.
April 8, 2015: Foreign companies operating in India get advice from their Indian friends how to avoid paying legitimate tax. If these companies have Indian partners, they would raise the bogey of foreign investment. If harassed, these foreign investors might quit the country, so goes the argument. These foreign more...

Clarity On Cost Of Unfinished MWP A Welcome Step
March 26, 2015: It was long overdue. The Directorate General of Hydrocarbons (DGH) and the operators have been worrying and wrangling over calculating the Minimum Work Program MWP) which is an essential component of the Production Sharing Contract (PSC). As Indian sedimentary basins are not considered very more...

Final Report of Kelkar Committee 2014
March 23, 2015: Some of our subscribers wanted to know the recommendations contained in the Final Report of the Kelkar Committee on Roadmap For Reduction In Import Dependency in the Hydrocarbon Sector by 2030. We intend to carry a review of the report shortly. Those who are keen to read the report, please more...

Petroleum product Price subsidies
March 17, 2015: The latest Economic Survey, prepared by the Arvind Subramaniam, the Chief Economic Advisor, is, unlike the verbose and dry documents of previous years, is a well written document and is rich in analysis. The Survey has an illuminating section on subsidies where, among other things, Arivind Subramaniam shows more...

KG D6: Consensus Over Arbitration Judges Still Eluding
March 9, 2015:Arbitration proceedings are already underway on the government order disallowing cost recovery by the contractor for Krishna-Godavari offshore block KG-DWN-98/3 (KG D6). The government issued the order of May 2, 2012. It specifically deals with the issue of reduction in the production more...

Cess is a special tax usually imposed for a limited period
March 4, 2015: Successive Union budgets have levied a cess on petroleum products. Among the cess on petroleum products are the following : An Additional Duty of Customs and an Additional Duty of Excise are levied and collected as cess on Motor Spirit more...

My Take On The Espionage Case: Spinning Stories
By P. Balakrishna P. BalakrishnaOn the night of February 17, the Modi government arrested three low level government employees and two petty thieves more...

Geological Surprise Delayed Crude Storage Cavern By 36 Months
February 18, 2015: As per the original plan for creation of underground crude storage cavern at Vizag, one of the three caverns sanctioned by the government in 2006, filling of crude oil was to commence in about six years. Thus the completion period of the project was January 2012. But the project has been delayed by 39 more...

Views
Speech of Former Petroleum Secretary, T.S. Vijayaraghavan, on India's Petroleum Sector
Demand & Growth: India's Crude Oil demand has risen from 0.65 Million Barrels a day in 1980 to 3.7 Million barrels and will reach 4 Million by 2016. Internal production is now less than 0.8 Million Barrels a day. It more...

The KG basin price hike socialises costs and privatises profits
Why the Rangarajan Committee's complex pricing formula will inflict heavy burdens on the power and fertiliser sectors and give a private gas producer windfall profits? The ministry of petroleum and natural gas has proposed to increase the price of natural gas from the Krishna Godavari (KG) more...

Fire From Ice: A Promising New Energy Source
Massive imports of oil and natural gas have exacerbated India’s big trade deficit, which is a hurdle to the acceleration of economic growth. Light at the end of the tunnel comes from a technological breakthrough last week by JOGMEC (Japan Oil Gas and Metals National Corporation). It succeeded in extracting natural gas more...

The Diesel Subsidy Hole
Under-recovery on diesel as per the Indian petroleum ministry website was . 10.94 a litre in February 2012 when the procurement price was . 37.80 per litre ($122.06 a barrel). The diesel under-recoveries are expected to exceed . 750 billion at average price of $95.66 a barrel while total annual shortfall due to fuel subsidies more...

Oil Slick Ahoy! The surge potential of oil prices is hard to assess, but we must prepare for a 10% increase over 2011 levels
The recent surge in crude oil prices is a whollyunpleasant development. Oil prices had increased by 30% in 2010 and by another 40% in 2011. It was a reasonable expectation that in 2012, notwithstanding the slow pace of growth in the developed world and some slowing in growth in the developing world too, oil prices would more...

Personalities
Lifetime Achievement Award Winners
Lifetime Achievement Award Winners Col. S.P. Wahi & M.A. Pathan more...

M Venkatesh Takes Over As Director Refinery, MRPL
M. VenkateshM. Venkatesh has taken charge as Director Refinery of MRPL (Mangalore Refinery & Petrochemcials Ltd). Prior to this, Venkatesh was Group General Manager in-charge of Refinery at MRPL.  A more...

Rugmani Shankar In Essar Oil Board
Essar Oil has appointed Ms Rugmani Shankar as Independent Director on its board. Ms. Shankar, a qualified Chartered Accountant, has over three decades of experience in corporate and service sector. She worked with IOC for nearly a decade during which time she was actively involved in product accounting and profitability. more...

Dr Reena Ramachandran A Brief Profile
Reena RamachandranIndia’s corporate sector except for the banking has almost totally been male- dominated. The petroleum sector has been no exception. Nishi Vasudeva who heads HPCL and Rupshikha Saikia more...

Indian Petro Scene - In a Nutshell
Vast areas of India’s sedimentary basins remain unexplored. The exceptional discoveries of oil and gas in recent years have placed India firmly on the global oil and gas map and brought about a  paradigm shift in the minds of potential investors in the upstream sector in India. India imports more than 70 per cent of its crude requirement which is the single biggest item of foreign exchange outgo. But at the same time petroleum exports constitute the country’s single largest item of foreign exchange earner. Till about 12 years ago, the petroleum sector was almost totally controlled by national oil companies. Today, there are many players both in the upstream and downstream sectors. Indian oil scene looks vibrant.

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Petro Intelligence [FREE Access]
PLL Windup: Only Way Out For GAIL’s Mess
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When Does A Scribe Cross The Line?
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Of Journalism And Racketeering
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The Albatross Around GAIL’s Neck
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Foreign Investment
Loyz Energy Inks Two MOUs With India's Sun Petrochemicals
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Niko Resources Provides Update On Indian Gas Price
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Overseas Investment
RIL Signs PSC For 2 Myanmar Blocks
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Gas Scene
List Of Planned RLNG Terminals
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LNG Regasification Infrastructure
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Preconditions for Effective Gas-on-Gas Competition
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Region-wise share in gas consumption and pipeline connectivity
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The Meaning & Relevance Of Well head Price
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Current state-wise status of Methane Gas Blocks
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Existing Gas Pipeline Networks in India
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India’s LNG Imports During Current FY 2014-15 & FY 2013-14
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Sectoral Consumption of Natural Gas
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Mechanism for Implementation of New Gas Pricing Formula For RIL-Operated KG-D6.
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Current level and projected production of domestic natural gas
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NGHP Expedition-02 Cost Doubles To Rs 6 Billion
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Pooling Prices Of Natural Gas Posing Problems?
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PNG (domestic) performance in last six months
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Sector-wise Supply of Natural Gas During FY 2014-15 (H1)
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KG D6: Sales Of Gas, Crude, Condensate, Expenditure, Profit Petroleum
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Shrinking Availability Of APM Gas complicates Domestic Gas Scene
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GAIL Advises Against Transfer Of Excess Funds In Gas Pool Account To ONGC, OIL.
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Non-grant of PEL by State Government for the CBM blocks
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Indian Team Holds Talks In Japan To Finalise Next National Gas Hydrate Expedition
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Gas pipelines Being Taken Up, Under Construction
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Government Finally Announces Price Of Domestic Gas
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The sector wise natural gas supply during FY 2013-14
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Revision of Domestic Gas Prices
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Gas Pipeline Utilisation As on March 31, 2014
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Performance Audit on ‘Supply and Infrastructure Development for Natural Gas’
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Status of shale gas in India
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Story of ONGC's Stagnating Production And Turnaround
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Under-recoveries & Burden Sharing
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Price Buildup of Petroleum products (Rs./litre/Cy.)
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Retail Selling Price of AUTOMOTIVE FUELS in Indian cities Updated as on 2nd April 2015
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Petroleum Industry Marketing Infrastructure
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Import Dependency
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Estimated Value of Crude oil imports during FY 2014-15
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High Sulphur and Low Sulphur Crude processed up to January 2015
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Crude Oil & Petroleum Products Pipeline Network
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Progress Of E&P Activities In North East Under PSC Regime
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Oil & Gas Discoveries Under PSC Regime As On January 15, 2015
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Gross Refining Margins (GRMs) of Indian refineries
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Crude Processed By Indian Refineries In FY 2015
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Petroleum Products Demand Projection for next two years (2015-16 & 2016-17)
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Contribution of Petroleum Sector to Ex-Chequer
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Revised Estimates (RE) of demand for petroleum products 2014-15
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Update On Royalty, Profit Petroleum, Production Level Payment and PEL & PML Fee
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PEL Still Pending for Exploration Blocks awarded up to NELP-IX
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Status update on achievement of target as per committed Work Program of FY 2014-15
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An Update of Indian Oil Corporation’s E&P, LNG Projects
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Arbitration Matters Relating To Upstream Petroleum Sector
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Installed Capacity of Refineries
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Import of Crude Region wise/ Country wise during 2011-12 to 2014-15 (April-September)
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Country-wise Export of Petroleum Products during 2011-14 and 2014-15
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Oil & Gas Projects to be completed by 31st March, 2015
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Drilling Performance Of ONGC, OIL During FY 2014-15
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Break-up of actual crude oil imports by PSU oil companies for the last three financial years
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Region- wise Crude oil imports during 2009-14
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India’s Transformation From Net Importer of Petro Products To Net Exporter
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Tenders [FREE Access]
Hindustan Petroleum Corporation Limited
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