Policy
Mozambique Developments Provide Some Cheer
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Indian Refiners Further Trend Towards Diversification Of Crude Oil Sources
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Waiting For Deep Water “Premium” Gas Price
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Change In Political Dispensation Puts Back Mangalore LNG Terminal?
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Why Was Rangarajan Formula Dumped?: Untold Full Story
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Regulation
Licence Extension For Cairn’s Block Can’t Be Without Conditions
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Italian Company Eni Winds Up Indian Operations?
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Is Finance Minister Unaware Of Tax Notice To Cairn?
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Government To Scrap Allocation Of CBM Block Given To GEECL
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Suppliers Allowed To Sell Bio-Diesel To All Consumers
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Alternative Energy / Fuel
Curbs On Ethanol Supply Sought To Be Liberalised
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New Projects
CNG Plant To Be Set Up On BOT Mode
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Jagdishpur- Haldia Pipeline To Be Extended
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Market Watch
IOC Buying Superior Kerosene
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IOC In Talks To Sell 5-Kg Cylinders At Supermarkets
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Companies
H-Energy Pvt Ltd
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MRPL Crude Unit To Shut In April For Maintenance
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HPCL Re-starts Gasoline Unit At Vizag Refinery
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Hardy Oil Upgraded By Analysts
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Press Release [FREE Access]
Latest Exclusives

March 27, 2015: India’s import dependency for petroleum has been increasing over the years. Though India exports petroleum products, they are based on imported crude and value addition is cannot much. We have obtained the officially estimated figures for import dependency. Click Column Special Database for details.


March 26, 2015: The calculation of the cost of unfinished Minimum Work Program has been a headache for the regulator and the operators. Some operators left without completing the MWP which made the government modify the calculation of the cost. The revised policy provides better clarity. Click Column Special Reports for details.


March 25, 2015: In his article Of Journalism and Racketeering appearing in the March 10th issue of www.indianoilandgas.com journalist R. Sasankan argued that a professional journalist cannot survive only on press releases and press conferences. A news breaker or an investigative journalist will need documents not only to substantiate his story but also to counter the counter attack the story is bound to provoke. A professional journalist will use these documents, secret or confidential, only for journalist purpose which is always in public interest and not sell it for a few pieces of silver. Journalism becomes a racket when such documents are traded. The article provoked overwhelming response from our esteemed readers. Those who reacted include former secretaries to the government of India, anti-corruption crusaders, journalists, consultants and petroleum experts. Their comments have immense information value. Click Free Access Column Petro Intelligence to read their views.

Columns Policy and Regulation have a host of exclusive reports.


March 24, 2015: Selection of Managing Director and CEO of Petronet LNG Ltd has been a farce since its inception. Will it be different this time? Click IOG Exclusive for details.

Today's News [FREE Access]
Natural gas price to be cut by 9 % to $4.56 from April
March 28, 2015: In the first ever reduction in domestic natural gas prices, the rates will be slashed by 9 per cent to $ 4.56 per unit from April 1 to reflect the softening in international prices, benefiting users in the power and fertiliser sectors. The government had in October last year fixed natural gas price at $5.05   more..


Modi calls for slashing oil, gas imports by 10% in next 7 years
March 28, 2015: Prime Minister Narendra Modi wants Indian energy companies to become multinationals and work towards establishing energy corridors such as India-West Asia, India-Central Asia, and India-South Asia, while establishing themselves in the gas markets of North America and Africa. Inaugurating the energy conference   more..


Vedanta slaps Notice of Claims on government
March 28, 2015: After Cairn Energy of UK, London- listed Vedanta Group has slapped a Notice of Claims against the Indian government challenging the Rs 20,497-crore tax imposed on its subsidiary using retrospective legislation. Billionaire Anil Agarwal-led group said it will take "all necessary steps" to protect   more..


India willing to sell LNG to Pakistan: Pradhan
March 28, 2015: India is willing to sell gas to Pakistan, Minister of State (Independent Charge), Petroleum and Natural Gas, Dharmendra Pradhan, said on Friday. “Our public sector units are strong enough to sell LNG to Pakistan’s domestic sector at a cheaper rate than what the neighbouring nation is buying at   more..


ONGC lost focus in past years: Sarraf
March 28, 2015: State-owned Oil and Natural Gas Corp (ONGC), which has seen output decline year after year, had lost its focus from its core activities, its Chairman and Managing Director, Dinesh K Sarraf said today. “At some places, we got de-focused. Exploration and production (of oil and gas) is our main stay. We need to stay in   more..


India can save $7 billion per annum by use of LED bulbs: Goyal
March 28, 2015: India can save up to USD 7 billion (about Rs 43,750 crore) annually by replacing incandescent lamps with energy efficient LED bulbs, Power Minister Piyush Goyal said on Friday. “We have set challenging targets to save energy as energy conservation has an equally important role to play with generation. We   more..


No tax on foreign firms’ dividends outside India, clarifies CBDT
March 28, 2015: Dividends declared by a foreign company outside India on shares that derived substantial value from assets in India cannot be brought to tax within the country, the Central Board of Direct Taxes (CBDT) has said in a circular. Such dividends “would not be deemed to be income accruing or arising in   more..


Global crude oil price of Indian Basket was US$ 57.03 per bbl on 26th March, 2015
March 28, 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$ 57.03 per barrel (bbl) on 26th March, 2015. This was higher than the price of US$ 53.31 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
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...

Special Reports
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...

India To Help Mauritius Set UP Geo- Scientific Data Centre For Oil & Gas Exploration
February 17, 2015: Mauritius has sought India’s help in setting up a Geo-Scientific Centre to enable the country to undertake oil and gas exploration. As exploration activities cannot be launched without a proper data management strategy, India’s Directorate General of Hydrocarbons (DGH) has agreed to help it. Oil more...

Relevant Provisions Of ORD Act To Transfer Oil & Gas Fields For Monetization
February 11. 2015: In the draft policy, Ministry of Petroleum and Natural Gas (MoPNG) has proposed that 69 fields/discoveries (63 of ONGC and 6 of OIL) be offered through International Competitive Bidding under a separate bidding round. ONGC and OIL are holding the PEL/PML of these fields. After completion of more...

A Trading Hub In India?
February 4, 2015: What are the prospects of India having a gas trading hub? This question figured at a summit on Gas trading and transportation held in New Delhi last week. India lacks the basic requirement for a trading hub such as a free gas market and a country-wide pipeline network. Not only India, there is no possibility of trading hub in more...

How does India perceive impact of falling prices of natural gas and LNG?
February 3, 2015: How do India’s energy experts perceive the impact of plunging prices of oil and gas in the international market? They reckon that since Europe’s gas imports from Russia are linked to oil prices, Russian gas will have a competitive edge. LNG prices are 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
Ajay Kumar Dwivedi
Ajay Kaumar DwivediAjay Kumar Dwivedi has taken over as the Director (Exploration) in India’s flagship explorer ONGC. A post-graduate from Kanpur University, Dwivedi has a distinguished career of more than 34 years in more...

Oilex Appoints Head Of India Assets
Jayant R. Sethi has assumed the role of Head of India Assets and is now in charge of daily operations in India. A trained geologist with strong contracts and project management experience in Cairn India’s organisation, Jayant brings technical and operational leadership experience to the more...

Perin Devi Appointed On Board Of CPCL
Perin Devi, Director in Ministry of Petroleum & Natural Gas, Government of India, has been appointed as a Director on the Board of Chennai Petroleum Corporation Limited, in place of Mohan Lal. 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]
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
Oilex Ltd Provides India Operations Update
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Cairn Energy Disputes Indian Income Tax Order
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Overseas Investment
ONGC In Talks About Buying Stakes In Two Siberian Oil Fields
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Gas Scene
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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SAGE’s Middle East- India Deep Water Gas Pipeline Gaining Acceptability
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
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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Retail Selling Price of AUTOMOTIVE FUELS in Indian cities Updated as on 25th March, 2015
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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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India’s Transformation From Net Importer of Petro Products To Net Exporter
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