Policy
More Misses Than Hits For The Oil & Gas Sector
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Proposed SAGE Pipeline Receives A Body Blow
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Auction To Re-start Natural Gas Power Plants Welcome But...
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Govt. Advised To Change Diesel Fuel Specifications
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Marketing The Achilles Heel of OMCs
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Regulation
RIL To Relinquish 25% In Cauvery, Appraisal Program Approved
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Marginal Fields To Be Auctioned, Pricing Freedom For Gas
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PPAC, OMCs Complete SKO, LPG Subsidy Revision Methodology
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Kochi To Become A Major Bunkering Port
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Alternative Energy / Fuel
Aemetis Expands Biodiesel Sales to Truck Operators in Logistics Industry
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Ethanol Blending Program Continues To Be In Trouble
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New Projects
ONGC To Drill 29 New Wells At Mehsana Asset
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Feasibility Study On Bangladesh-India Petroleum Pipeline Begins
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Gas Pipeline
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Market Watch
PSU Oil Marketing Firms To Import Up To 8.9 Million Ton LPG
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Gujarat Gas Ltd Is Largest CGD Company
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Indraprastha Gas Hikes CNG, PNG Prices
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Production Of Natural Gas To Increase
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Companies
Fugro Group
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Oilex Releases March Quarter Results
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Pipavav Defence In Pact With Daewoo To Build LNG Ships
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Anadarko Picks Contractors On Major LNG Project
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Press Release [FREE Access]
Latest Exclusives

May 25, 2015: India’s Minister for Petroleum and Natural Gas Dharmendra Pradhan informed the LokSabha, the lower house of parliament, in the just concluded session that the findings of the Committee which examined the irregularities in respect of long term LNG contract from RasGas of Qatar and Gorgon Project of Australia were under examination in consultation with the Central Vigilance Commission. The scam involving both the deals was reported exclusively by www.indianoilandgas.com in its popular free access column Petro Intelligence. We ran at least seven reports on the subjects starting from 2011. Many of our readers may not be familiar with the subject now. For their benefit, we are uploading a report which appeared in the issue of December 25, 2011 which will give an idea about the magnitude of the scam. Click Free Access Column Petro Intelligence .

In Guest Column , petroleum trading expert Ravinder Kumar discusses the likely impact of the US move to lift its 40-year old ban on crude exports. The bill comes up for debate in the US senate on June 4.

The United Nation’s decision extending the sea bed territory of Pakistan by 150 kms is a dampener on the Oman-India subsea gas pipeline to bring gas from Iran proposed by the New Delhi-based, SAGE. Government of India may soon alter the diesel specifications. The PSU Oil Marketing Companies may face some problems from private marketers such as RIL and Essar. These are among five exclusive reports in column Policy.


May 22, 2015: India’s Refinery Throughput in FY 2014-15, Click Column Special Database for details.

May 21, 2015: India’s Crude Oil Imports & Average Crude Oil Prices, click Column Special Database for details.

Today's News [FREE Access]
French company Total in talks with state-run MRPL for fuel retailing joint venture in India
May 26, 2015: French energy company Total SA is in preliminary talks with state-run Mangalore Refinery and Petrochemicals Ltd (MRPL) for partnership in fuel retailing in India, people privy to the negotiations said. If the deal goes through, it will mark the entry of the second major multinational company, after Shell, into   more..


Jagdishpur-Haldia pipeline project commenced
May 26, 2015:The first phase of the Jagdishpur-Haldia pipeline project of GAIL (India) Ltd commenced on Monday after Dharmendra Pradhan, Minister of State (Independent Charge) for Petroleum and Natural Gas inaugurated the project office in Patna. “Jagdishpur-Haldia Pipeline has been heralded onto the national agenda as   more..


CPCL posts over 7-rold rise in net profit
May 26, 2015:Chennai Petroleum Corporation Ltd (CPCL), an Indian Oil Group company, today reported over seven-fold rise in net profit at Rs 3.6457 billion for the fourth quarter ended March 31, 2015. The Chennai-based company had reported a net profit of Rs 498.10 million during the corresponding period of the previous year,   more..


Indian Oil to sell about 50,000 tons of naphtha to Unipec loading from Chennai and Haldia
May 26, 2015: Indian Oil Corp (IOC) has sold 35,000 tons of naphtha for June 15-17 loading from Chennai to Unipec, and possibly another 15,000 tons for June 8-10 loading from Haldia, also to Unipec, traders said on Monday. These brought IOC's total sales for June to about 80,000 tons and the refiner still has outstanding   more..


OVL net profit down 57% in FY15
May 26, 2015: ONGC Videsh Ltd has reported a 57 per cent drop in its net profit for the fiscal 2014-15 at Rs 19.04 billion. The net profit in the previous fiscal was Rs 4,4.45 billion. The unlisted overseas investment arm of ONGC also reported a 14.6 per cent drop in its gross revenue at Rs 184.91 billion from Rs 216.59   more..


CPCL to issue preference shares to IndianOil for Rs. 10 billion
May 26, 2015: Chennai Petroleum Corporation Ltd on Monday agreed to issue 1 billion preference shares to Indian Oil for a sum of Rs. 10 billion to its one of its promoters -- Indian Oil Corporation. In a BSE filing on Monday, CPCL said that its board had agreed to raise the authorised share capital of company by Rs. 10   more..


Global crude oil price of Indian Basket was US$ 63.68 per bbl on 22nd May, 2015
May 26, 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$ 63.68 per barrel (bbl) on 22nd May, 2015. This was higher than the price of US$ 63.46 per bbl on previous publishing day of 21st May, 2015. In rupee   more..

Petropulse / Guest Column
Lifting Ban on US Crude Oil Export?
Ravinder KumarOn May 13, 2015, US senators-Lisa Murkowski (R-Alaska) & Heidi Heitkamp (D-ND) introduced a bill to end 40 year old ban on export of crude oil by the United States. The bill, having the support of more...

IOG Exclusive
OMCs Want To Be Compensated For Delayed Compensation
May 19, 2015: Oil Marketing Companies (OMCs) such as IOC, BPCL and HPCL are compensated through a burden sharing mechanism for the under-recoveries they incur on selling regulated petroleum products below cost. There is an approved formula for this in which the burden is shared by the government, upstream companies and the more...

Proposed Mumbai LNG FSRU based on interesting model
May 18, 2015: In an interesting move, the Mumbai Port Trust (MbPT) has recently reportedly invited bids for setting up of a 5 million tons per annum (mtpa) Floating Storage and Re-gasification Unit (FSRU) in a Public-Private Partnership (PPP) mode near the Mumbai coast. The model for establishing the FSRU more...

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
PetroFed's Comprehensive Recommendations On Changes Required For Success of Make In India Program.
May 14, 2015: Petroleum Federation of India (PetroFed ) is an effective interface between the petroleum industry and the government. On the advice of the Ministry of Petroleum and Natural Gas , it has made a number of recommendations on the steps to be taken in the petroleum more...

AOGO - Ease of Doing Upstream Business in Indian Upstream
May 12, 2015: Views and recommendations on ease of doing business in various points in the life cycle of upstream business are as below.   Actual Bids The current Industry experience is rated good. No change is more...

CII Note on Ease of Doing Business
May 6, 2015: The Indian oil and gas sector is one of the six core industries in the country and plays a predominantly pivotal role in influencing decisions in all other spheres of the economy. However, over the last few years the oil and gas sector has more...

Major Oil and Gas companies invest in India’s IT, Technology and Engineering Centres
May 5, 2015: Successive governments have been trying to lure foreign direct investment by the petroleum biggies into India’s hydrocarbon sector. In particular, India has been seeking investment in exploration and production, refining, infrastructure and services. The response so far has been a trifle disappointing. Many more...

Note on Ease of Doing Business- Upstream Sector
Preamble The Government of India launched the Make in India programme with an objective to increase the share of manufacturing sector in the GDP to 24%. One of the core sectors which contributes significantly to the GDP is the Oil and Gas sector. Unfortunately over the years, due to languishing more...

ORMCs Seek Creation Of Oil Price Fluctuation Reserve
April 30, 2015: ORMCs are desperately seeking some mechanism for deferment of variations in valuation of stock caused due to abnormal fluctuations in oil prices in global market so that their financial statements do not get materially affected with these non operating more...

Faced With Huge Accounting Losses OMCs Seek To Redefine “Inventory”
April 29, 2019: As a result of steep fall in global oil prices since July 2014, Oil Marketing Companies have suffered massive inventory losses. During April-December 2014, IndianOil alone suffered an inventory loss of about Rs 170 billion and with BPCL and HPCL together the loss is about Rs 250 billion. These are more...

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...

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
Jeffrey D. Auld Non-executive Director Of Oilex Ltd
Jeffrey D. AuldOilex Ltd has appointed Jeffrey D. Auld (48) as a UK based independent non-executive director. Mr. Auld has over 24 years of experience in the oil and gas sector focused on financial and commercial more...

BP Appoints New Non-executive Directors
The Board of BP p.l.c. has appointed Mrs Rosput Reynolds and Sir John Sawers as Non-Executive Directors. Mrs Rosput Reynolds has over 25 years’ experience in the energy sector, including as president and chief executive officer of AGL Resources. Sir John Sawers has had long experience in more...

Alastair Marsh Is CEO Of Lloyd’s Register
Alastair MarchLloyd’s Register’s Richard Sadler has taken the decision to step down as CEO at the end of 2015, after eight years in the role. The Lloyd’s Register Group Ltd Board of Directors more...

MRPL’s Vishnu Agrawal Gets Award
Vishnu AgrawalVishnu Agrawal, Director Finance of MRPL was adjudged winner of the ‘BT-Star Excellence Award in the category PSU- small, - Director - Finance of the year’. Vishnu Agrawal took over as Director 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]
LNG Scam: Mystery Of The Hidden Shark
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Chandra’s Exit: A lease of life for Balyan?
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Failure To Rework Ras Gas Deal: Balyan The Fall Guy?
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PLL Windup: Only Way Out For GAIL’s Mess
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Foreign Investment
Emerson Process Buys Ameya Transmissions
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Australian AAM Forms JV To Tap Indian Market
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Overseas Investment
India Aims To Strengthen Energy Ties With Mexico
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Gas Scene
Unbundling Of Transmission & Marketing Of Gas Business Still a Dream
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Gas Delivery Infrastructure
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Natural Gas Allocation Priorities
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History Of Gas Pricing In India
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Declining Share of Natural Gas In India’s Primary Energy Mix
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City Gas Distribution (CGD) Infrastructure, 300 More Cities Being Identified
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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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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
India's Refinery Throughput in FY 2014-15
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India’s Crude Oil Imports & Average Crude Oil Prices
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Foreign Direct Investment Inflows Into Petroleum Sector
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Retail Selling Price of AUTOMOTIVE FUELS in Indian cities Updated as on 25th May 2015
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Central Excise And Customs Duty on petroleum products
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The effective rates of Sales tax/VAT levied by various States/UTs
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Story of ONGC's Stagnating Production And Turnaround
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Price Buildup of Petroleum products (Rs./litre/Cy.)
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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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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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Tenders [FREE Access]
Oil India
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Cairn India
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Cairn India
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