Policy
Why Niko Opted To Sell Its Stake In RIL-Operated KG-D6?
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Was OVL Lucky In Retrospect That It Lost Kashagan?
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Attempts To Diversify Crude Oil Sources Still ‘Work-in-progress’
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Anomalous Situation: Financial Numbers Of The OMCs
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Gas Supplies To CNG, PNG: Subsidy Saving Below Estimate
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Regulation
Arbitration Award Prunes India’s PSC Blocks In North East Coast
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Delays, Delays Everywhere
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Delivery Point : A Conundrum In Production Sharing Contract
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Govt. Eliminates Regulatory Control Over Non-PDS Kerosene
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Alternative Energy / Fuel
Curbs On Ethanol Supply Sought To Be Liberalised
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New Projects
GSPC Gas Company To Develop CGD Network In Valsad
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Petron Engineering Bags RIL’s Contract
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IOC To Set Up Ethylene Glycol Project
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Market Watch
Shell Advance Ultra With PurePlus Technology Launched In India
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Gulf Petrochem Acquires Essar's Kenyan Operations
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Companies
Adani Welspun Exploration Limited (AWEL)
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MRPL To Make Retail Foray
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ONGC Inks Pact With Super Wave Tech On Hydraulic Fracturing
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Press Release [FREE Access]
Latest Exclusives

March 5, 2015: Gross Refining Margins (GRMs) of Indian refineries used to be significantly lower than their counterparts elsewhere mainly due to historic reasons. Neither the refinery location nor its installed capacity was decided on commercial considerations. The situation began to change from late 1990s with PSU managements beginning to apply commercial considerations. With the entry of RIL and Essar, the GRMs of at least some refineries touched international level. Click Column Special Database for GRMs of Indian refineries.


March 4, 2015: India’s economic planners always look towards petroleum sector for additional resource mobilization. As customs and excise duties are already high, they opt for Cess which is a special Tax imposed for a limited period. We have collected details of Cess imposed on petroleum products over the years. Click Column Special Reports.


March 3, 2015: How much crude did Indian refineries, both state-owned and private, process during the current FY? We have collected refinery-wise figures for the period April to January 2015. FY ends on March 31. Click Column Special Database for details.

March 2, 2015: The actual petroleum products demand for FY 2014-15 is way below the projections made by the planners. The demand for high speed diesel is only 68.487 million tons against the projection of 72.587 million tons. All products demand also comes to only 161.565 million tons against the projection of 168.635 million tons. What are the demand projections for FY 2015-16 and 2016-17? Click Column Special Database for details.


February 27, 2015: Petroleum sector contributes immensely to the exchequers of Union government and the states. The contribution keeps increasing as this is the preferred source of revenue for the governments reluctant to diversify the sources. The subsidy burden is only a small fraction of the overall revenue from this sector. We have collected the figures for the last few years up to the first quarter of the current FY. Click Column Special Database for details.


February 26, 2015: Padmanabhan Balakrishnan, a known columnist, has written a piece on his understanding of the espionage case involving web portals and low level government employees. Click Column Special Reports for details.
February 25, 2015: The return of Aam Admi Party (AAP) led by Arvind Kejriwal to power in Delhi with an unprecedented mandate signals the revival of the controversial agenda on natural gas pricing. During its 49-day rule, AAP government filed an FIR against Mukesh Ambani-controlled RIL and the then petroleum minister Veerappa Moily and his predecessor Murli Deora. The High Court of Delhi refused to squash the FIR but only prevented arrests. The Modi government slashed the Moily-notified gas price from $ 8.4/mmbtu to 5.61/mmbtu. This is being cited to substantiate the charge of corruption against Moily. AAP government is determined to pursue the case. Click Free Access Column Petro Intelligence for details.
Today's News [FREE Access]
Repo rate cut: A signal to banks
March 5, 2015: I have no doubt that the pressure of the two rate cuts over time will feed into lower rates, says RBI Governor. After cutting the repo rate by 25 bps in a surprise inter—meeting monetary policy, Reserve Bank Governor Raghuram Rajan said he sees banks passing on the benefit of lower rates regime to   more..


ONGC production from western offshore fields hits five-year high
March 5, 2015: Production from ONGC’s Western Offshore fields have touched a five year high of 325,000 barrels of oil per day on March 3, the company said on Wednesday. “The production has started increasing from average 315,000 barrels of oil per day in February 2015 to over 325,000 barrels of oil per day in   more..


Petronet CEO not to get extension as union Oil Minister looks for new CEO
March 5, 2015: The Oil Ministry has decided not to extend tenure of Petronet LNG Ltd's CEO A K Balyan till his superannuation in July 2016 and has instead begun search for the new head of the India's largest liquefied natural gas (LNG) importing firm. Balyan was appointed Managing Director and CEO of Petronet for a   more..


Cairn halves capex on weak oil price environment
March 5, 2015: After sacking over 400 employees, Cairn India Ltd today said it has more than halved its capital expenditure in 2015—16 because of drop in oil price. “In continuation of our communication at the end of third quarter of 2014—15 and in light of the current oil price environment, Cairn is taking   more..


Gujarat government to set up two new LNG terminals of 10 MMTPA
March 5, 2015: Gujarat government said that it has planned to set up two new Liquefied Natural Gas (LNG) terminals of 10 Million Metric Tonnes Per Annum (MMTPA) capacity. In her written response to a question raised by BJP MLA Harsh Sanghvi during question hour in the Gujarat Assembly yesterday about future plans regarding   more..


Extension of PDS Kerosene and Domestic LPG Subsidy Scheme, 2002 and Freight Subsidy Scheme, 2002
March 5, 2015: The Cabinet Committee on Economic Affairs (CCEA), chaired by the Prime Minister Narendra Modi, has given its approval to extend the PDS Kerosene and Domestic LPG Subsidy Scheme, 2002 and Freight Subsidy (for far-flung areas) Scheme, 2002 for a period of one year that is up to 31st March, 2015. The approval will   more..


Global Crude Oil Price of Indian Basket was US$ 58.84 per bbl on 3rd March, 2015
March 5, 2015: The international crude oil price of Indian Basket as computed/published by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 58.84 per barrel (bbl) on 3rd March, 2015. This was lower than the price of US$ 59.95 per bbl on previous publishing day of 2nd March, 2015. In rupee   more..


81% LPG users join direct transfer scheme
March 5, 2015: The Ministry for Petroleum & Natural Gas said that almost 81 per cent of the active domestic LPG consumers have joined the Direct Benefit Transfer of LPG scheme, known as PaHaL. In a statement the Ministry said, as on March 2, 117.4 million LPG consumers have joined the scheme, which was introduced in 54   more..

Petropulse / Guest Column
The Delhi Verdict And Future Of Reforms
Narendra ModiThe totally unexpected and sweeping rout of the Bharatiya Janata Party (BJP) in the Delhi assembly elections - the first defeat of the Modi led BJP in state elections held more...

IOG Exclusive
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...

Special Reports
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...

Policy Granting Extensions To PSCs To Monetize Small and Medium Discovered Fields
January 13, 2015: The government has formulated a policy for grant of extension to the Production Sharing Contracts for small and medium sized discovered fields. What is the need for a policy for this? Which are the major fields covered under the policy? What are the highlights of the policy? more...

Monitoring of Drilling Efficiency of E&P Companies
January 8, 2015: How is drilling efficiency of E&P companies measured internationally? Do Indian companies such as ONGC and Oil India follow the international pattern or do they apply a different yardstick. We posed these questions to Ministry of Petroleum and Natural Gas. 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
Rupshikha Saikia Borah Set To Become Oil India's First Woman CMD
Rupshikha Saikia BorahPUBLIC Enterprises Selection Board (PESB) has chosen Rupshikha Saikia Borah as the company’s next Chairman and Managing Director (CMD). She is currently director (finance) of Oil India Ltd more...

Petroleum Ministry Official on GAIL Board
February 25, 2015: Gail (India) Ltd has informed Bombay Stock Exchange that Ashutosh Jindal, Joint Secretary in the Ministry of Petroleum & Natural Gas has been appointed as a Part-time Director on its board. more...

RIL Appoints Maheswar Sahu As Independent Director
Maheswar SahuReliance Industries Ltd Z(RIL) has appointed ex—bureaucrat Maheswar Sahu as an independent director on its board with immediate effect, taking the strength of the board to 14, with eight being more...

Great Eastern Energy Corporation Director Resigns
Haigreve KhaitanGreat Eastern Energy Corporation Limited (LSE: GEEC), the fully integrated gas production, development and exploration company, has announced that Haigreve Khaitan, non-executive director, has 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]
Gas Price: Moily Faces The Heat
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The Albatross Around GAIL’s Neck
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Plug The Corruption In Pumps
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Foreign Investment
Gulf Petrochem Commissions Liquid Cargo Storage Terminal At Pipavav
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Overseas Investment
Videocon-BPCL Team Discovers Oil Off Brazil Coast
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Gas Scene
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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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
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 2nd 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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Oil & Gas Discoveries under PSC regime
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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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Petroleum Sectors Contribution to Exchequer
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Petroleum Product Prices in India are lower or comparable with those in South Asia, USA, Canada & Europe
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Impact of Depreciation of Rupee against US Dollar
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Details of Projected Under-recovery for 2014-15
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Cost of Filling 1.03 MMT of Strategic Reserves with Crude Oil
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Story Of India's Rise From Net Importer To Net Exporter of Petroleum Products
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Secret Of Oil Marketing Companies' Profits
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Quantities Uplifted from Private Refineries by OMCs
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Crude Oil Procurement Plan: 2014-15
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Impact of increase in prices of petroleum products on Inflation?
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Tenders [FREE Access]
Oil India Limited
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