Policy
“Modification” Of Gas Pricing Formula
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Gas Pricing Formula: Sethi In, Rangarajan Out
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Wheel Turns A Full Circle With Diesel Deregulation
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Welcome Changes In Crude Oil Import Mechanism
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PSU Oil Cos Seek Greater Freedom To Procure Distress Cargoes
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Is ONGC Being Arm-twisted Into An Alliance With GSPC?
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OIL Gradually Expanding Its Footprint And Developing Its Vision
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Regulation
DGH Endorses Santos’ Exiting 2 NEC Blocks Without Obligations
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BHP Billiton Can Quit Only After Submitting Bank Guarantee
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DGH Finds Jubilant’s Application For PEL Justified
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DGH Advises Focus Energy To Pay Enhanced PEL Fee
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Alternative Energy / Fuel
Large Import Saving Expected From Ethanol Blending
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New Projects
Crude Import Option Through Haldia Dock Complex
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Penspen Gets Contract For TAPI Feasibility Study
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Greka Drilling Announces Spud Of First Well In India
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Oilex Provides An Update On Cambay-77H
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Market Watch
Promising FPSO Market in India
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Companies
Penspen
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Oil India Not To Make Fresh Gas Supply Commitment
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Cairn India’s Net Drops
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Press Release [FREE Access]
Latest Exclusives
October 30, 2014: The issue of royalty to government being paid by E&P companies has run into problems with the government of Gujarat challenging the prevailing system. Royalty to central and state government at pre or post discount rate is sub-judice. There is a proposal for a uniform discount rate, click IOG Exclusive for details.

October 29, 2014: Conceptually, the Gas Price Formula announced by the Modi government looks significantly better than the Rangarajan formula. The price too has now been announced after an agonizing delay. However, there are areas of confusion. Click Column Gas Scene for details.

October 28, 2014: Narendra Modi government is expected to announce shortly a decision to pool prices of natural gas for the power sector. The target is to make over 24000 MW of gas based power projects operational. The power producers have approached the government with a plea seeking appropriate level of recovery of fixed charges in the gas pooling assumptions. Click IOG Exclusive for details.

October 27, 2014: Normally, bureaucrats dare not mislead the Prime Minister’s Office (PMO). During the days of Mrs Indira Gandhi, any response to a query from the PMO used to go through different layers of checking and cross-checking. True, under Dr Manmohan Singh the PMO did not instil the same kind of fear among bureaucrats. Narendra Modi being a strong personality, the PMO under him will not allow itself to be taken for a ride. There is an allegation that the Directorate General of Hydrocarbons (DGH) has sought to mislead the PMO on a query regarding gas price. We got the issue examined by experts as integrity and competence of an organisation like DGH is crucial to the Indian economy. Click our free access column Petro Intelligence to read the outcome of our investigation.
Today's News [FREE Access]
India seeks Saudi Arabia's support for petroleum imports
October 30, 2014: Petroleum minister Dharmendra Pradhan currently visiting the nation as part of a delegation discussed India's additional requirement of crude oil. Struggling to meet a widening gap in domestic supply of crude oil and petroleum products, India has sought support and cooperation from Saudi Arabia for long term oil imports.   more..


Visit of Delegation led by the Minister of State (Independent Charge) for Petroleum and Natural Gas
October 30, 2014: The Minister of State (Independent Charge) for Petroleum and Natural Gas Government of India, Dharmendra Pradhan, held bilateral energy consultations on Tuesday with HRH Prince Abdul Aziz Bin Salman Bin Abdulaziz, Assistant Minister for Petroleum and Mineral Resources, Kingdom of Saudi Arabia in Riyadh on   more..


Oil India seeks more hydrocarbon concessions globally
S.K. SrivastavaOctober 30, 2014: India's second largest public sector company Oil India Limited (OIL) is seeking more hydrocarbon concessions across the globe, including in Brazil and Mexico. "We are   more..


Norway’s $860 billion wealth fund bets big on India
October 30, 2014: Norway’s sovereign wealth fund, the world’s largest, will increase its holdings “significantly” in India as Prime Minister Narendra Modi opens Asia’s third-largest economy to investments and competition. The fund on Wednesday revealed that it raised its holdings of Indian bonds   more..


ONGC topples RIL to become highest ranked Indian energy firm
October 30, 2014: State-owned Oil and Natural Gas Corp (ONGC) has edged past Reliance Industries to become the highest ranked Indian energy firm on this year’s Platts Global 250 Rankings. ONGC, which in 2013 was ranked 22nd, improved one position in this year’s ranking that is led by global giants Exxon Mobil   more..


LPG rate hiked by Rs 3 per cylinder
October 30, 2014: Subsidised cooking gas rates have been hiked by Rs 3 per cylinder after the government raised the commission paid to dealers. The commission paid to dealers was last week hiked by Rs 3 per 14.2-kg cylinder to Rs 43.71. Consequently, retail selling price of subsidised LPG too have been increased in the same proportion, officials   more..


Global crude oil price of Indian Basket was US$ 84.41 per bbl on 28th October, .2014
October 30, 2014: 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$ 84.41 per barrel (bbl) on 28th October, 2014. This was lower than the price of US$ 84.49 per bbl on previous publishing day of   more..


Smooth Flight
October 30, 2014: In a year when petroleum consumption crawled, HPCL recorded the highest growth rate among OMCs. It is focusing on long-term plans to maximise profitability. For oil marketing company (OMC) Hindustan Petroleum Corporation (HPCL), 2013-14 was a landmark year. First, Nishi Vasudeva took over as chairperson and   more..

Petropulse / Guest Column
Crude Oil Prices
Ravinder KumarInternational Crude oil prices (Brent) have recently fallen to less than $ 85/bbl from $ 110/120/bbl after touching a peak of more than $145/bbl in June 2008 and low of $36/bbl in December, 2008.The more...

IOG Exclusive
Why Not A Uniform Discount Rate For Royalty By E& P Companies?
October 30, 2014: As the issue is before the court, there is a strong feeling in the official circles that it would be fair and equitable if the royalty payable to Central and State Government is at least be based on uniform discount wherein no particular State is in an advantageous position. more...

Gas-based Power Producers Seek Faster Recovery Of Fixed Cost
October 28, 2014: Power Producers who have been lobbying for pooling of gas prices has approached the government with the argument that one of the factors which will have a major impact on the viability of these projects under the gas pooling scenario is how much fixed cost is more...

Importance of Kuala Lumpur In Indian Upstream Oil Companies' Scheme Of Things.
October 21, 2014: Ravva oil field on the East Coast of India, operated by a consortium led by Cairn India Ltd (CIL) with Videcon, ONGC and Ravva Oil Singapore as partners, has been in perpetual legal battle with the Indian government. Both the parties had originally settled for Kuala Lumpur as the centre of more...

Ministry of Petroleum & Natural Gas Begins To Act On Completing National Gas Grid
October 20, 2014: At present India is having about 15,000 Km long gas pipeline infrastructure including Spur lines. The government is committed to create National Gas Grid for which an additional 15,000 km of pipelines is required. The additional pipelines required e have broadly been categorized under four categories: more...

BG-led Panna, Mukta, Tapti Consortium Criticised For Not Keeping Separate Books Of Accounts For Two Fields.
October 17, 2014: Government's Auditors have criticized the Joint Venture headed by BG for not keeping separate accounts for the two fields, Panna-Mukta and Mid-South Tapti fields.These are fields under two separate Production Sharing Contracts. Official auditors discovered that the Books of more...

BP Exploration Asked To Extend Bank Guarantee For KG Block Pending Decision On Relinquishment.
October 17, 2014: BP Exploration (Alpha )Ltd last year submitted a proposal to relinquish block, KG-DWN-2005/2 which it operates in partnership with Reliance Industries Ltd (RIL).However, the government has not yet taken a final decision on this proposal. Directorate General of Hydrocarbons (DGH) wrote to BP more...

RIL Seeks A Higher Priority For Petrochemical In Gas Allocation.
September 26, 2014: Reliance Industries Ltd (RIL) has urged the Modi government to assign a higher priority while allocating natural gas which is a critical feedstock for petrochemical industry with “highest benefit to national economy”. RIL’s Dahej petrochemical complex is facing a shortage in gas supply. more...

How Expensive Is Natural Gas Production In India – Part-II
September 24, 2014: Yesterday (September 23, 2014), we carried US consultant IHS-CERA’s presentation in New Delhi on the estimated cost of natural gas production in India. How realistic are its estimates? We have obtained the production costs available with Directorate General of Hydrocarbons (DGH) which are based on the actual data supplied more...

How Expensive Is Natural Gas Production in India? Part- I
September 23, 2014: Cambridge Energy Research Association (CERA) was a US-based consultant which was taken over by IHS Energy. IHS CERA made a presentation in New Delhi last year on India’s remaining gas reserves and the cost of production. The presentation assumes significance coming as it did in the wake of the intense lobbying to get the more...

EAS Sarma Asks Petroleum Ministry To Challenge Justice Bharucha’s Appointment
EAS SarmaSeptember 11, 2014: Eminent retired bureaucrat EAS Sarma has once again taken up the issue of the appointment of Justice Bharucha as one of the arbitrators in KG D6 matter. more...

BPCL- Proposed Crude Pipeline Can Make Tremendous Impact On North East Economy
August 19, 2014: Bharat Petroleum Corporation Ltd (BPCL) in its proposal seeking expansion of Numaligarh Refinery Ltd (NRL) in the state of Assam has proposed a 1350 KM long crude oil pipeline. This pipeline project and its ROU can open up opportunities for expansion of Bongaigaon and Guwahati Refineries of Indian Oil more...

BPCL: Caught Between Unsafe Pipeline & Agitating People
August 12, 2014: Replacement of LPG pipeline from ONGC to BPCL LPG Plant at Uran has been giving anxious days to the BPCL management. BPCL’s LPG Plant at Uran in Raigad district of Maharashtra apart from being one of the largest plants in the region, is located at operationally critical location to more...

DGH Blocks Transfer Of Geopetrol’s PI & Operatorship To CAPIL For CBM Blocks In Madhya Pradesh
August 7, 2014: Geopetrol with 10 per cent Participating Interest (PI) is the operator of CBM block SP (N)-CBM-2008/IV in the state of Madhya Pradesh. Geopetrol wants to transfer the PI and operatorship to Coastal Andhra Power Infrastructure Ltd (CAPIL), an Anil Ambani group company.   Geopetrol cited more...

BPCL Seeks 53 % Capital Subsidy To Expand NRL’s Capacity, Cross Country Pipeline
S. VaradarajanAugust 6, 2014: The 3 MMTPA Numaligarh Refinery Limited (NRL) was set up at Numaligarh in the state of Assam in accordance with the provisions of the Assam Accord. The refinery has contributed more...

Special Reports
Auto Fuel Policy: Status, Vision & Policy 2025
October 14, 2014: Following the intervention of the Supreme Court of India, the government launched the Auto Fuel Policy in 2003. The policy was being implemented in phases. A new Expert Committee has made recommendations for an Auto Fuel policy to be implemented more...

Kelkar Committee’s Consultation Paper Errs In Supporting Production Sharing Contract System
 September 19, 2014: The Consultation Paper of the report of the Committee on Roadmap for Reduction in Import Dependency in Hydrocarbon Sector by 2030 has been divided into two parts. Part I deals with the steps to be taken more...

Presentation On State Specific Cost (SSC) On Crude & Petroleum Products.
September 17, 2014: In addition to Central Excise and Customs duties, crude and petroleum products are subject to State Specific Cost (SSC) some of which are irrecoverable. There was a presentation in the Ministry of Petroleum and Natural Gas regarding the need for abolition of all irrecoverable taxes on crude and products. We have obtained a more...

Positive Elements In Kelkar’s Consultation Paper, Aiyar’s Piece Riddled With Flaws
 The redoubtable Swaminathan S. Ankelesaria Aiyar has shot off a column in the Times of India arguing vehemently for selling gas to the highest bidder. It is ostensibly based on the second part of the consultation paper more...

The Gas Price Issue : Misunderstanding Basics – Willful or Unintentional?
 September 15, 2014: One does not expect Vijay Laxman Kelkar to make mistakes but in the case of Swaminathan S Anklesaria Aiyar one might presume that he did not catch the point when he insists in his recent article in the more...

How Did RIL, Hardy Negotiations Over Transfer Of PI Run Into Problems?
August 14, 2014: RIL with 90% PI is the operator of the block GS-OSN-2000/1. Hardy with 10% PI is the JV partner. The Phase -I Exploration period was from 16th August, 2001 to 6th July, 2008 including extensions. The total exploration period was up to 13th May, 2010. As per PSC MWP commitment for Phase-I of the more...

First Budget of Modi Government seems a letdown for the Oil & Gas sector
July 11, 2014: The Budget presented by Finance Minister Arun Jaitley had precious little for the oil and gas sector, belying the many hopes of both producers and consumers who expected the Modi-led Government to shower largesse on producers so as to stimulate investment in the economy.  more...

Indian Oil Corporation's Oil Price Risk Management
July 1, 2014: How Did  IOC's Oil Price Risk Management Work? We have obtained the IOC management's own assessment of the performance. Indian Oil Corporation's Oil Price Risk Management Oil more...

Unfinished MWP- Cost calculations pending for decision by MoPNG on related PSC issues
June 26, 2014: Computation of cost calculation of Unfinished Minimum Work Program can get complicated due to different reasons such as extension of exploration phases, operator seeking Force majeure, excusable delay etc. Part-II deals with cases pending decision by Petroleum Ministry on related PSC more...

Cost calculations already sent & yet to be approved by MoPNG
June 24, 2014: Production Sharing Contract under NELP has a provision for Minimum Work Program (MWP) which the contractor is duty-bound to honour. If not, the cost of Unfinished MWP will have to be paid to the government. The computation of the cost of Unfinished MWP is a bone of contention between the contractor and DGH. We have collected the more...

E& P Activities In India's North East Under PSC Regime
June 20, 2014: Under the PSC regime, 31 exploratory blocks have been awarded in the North Eastern states (Arunanchal Pradesh-1, Assam-19, Manipur- 2, Mizoram- 3, Nagaland-2, Tripura-4) covering an area of 43,722 square kilometre. 9 blocks have been relinquished (Arunanchal Pradesh-1, Assam - 6, more...

Views
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...

Go All The Way: Let market determine fuel prices, not politics
The hike in diesel, LPG and kerosene prices will narrow the gap between diesel and petrol prices, but also act as a spur to inflation. The former effect is welcome, the latter hardly so. The gap that had been widening between petrol and other fuels reflected bad policy both from socio-economic and environmental points of view. more...

Personalities
Surya P. Sethi - A Profile
Surya P SethiAt the hallowed precincts of the Indian Institute of Management, Ahmedabad, it was hard to miss the tall gangly frame of Surya Sethi. But what made him really stand out, amidst the best and the more...

A. K Srinivasan To Be Next Director(Finance) Of ONGC
A K Srinivasan will be the next Director (Finance) of Oil and Natural Gas Corp (ONGC). Public Enterprise Selection Board (PSEB) has recommended A K Srinivasan for the post of Director (Finance), ONGC Ltd. The recommendation will now go to the Oil Ministry which after processing will move a proposal to the Appointments more...

P.K. Sharma To Be Next Director (Operations) of OIL
Public Enterprises Selection Board (PESB) has recommended P.K.Sharma  for the post of Director (Operations) of Oil India Ltd (OIL). Presently, he is General Manager in the same company.PESB interviewed 10 candidates  including six GMs of OIL . The recommendation will now go to the Appointment Committee of the more...

Gautam Roy Appointed As MD, CPCL
Gautam RoyGautam Roy, executive director, Indian Oil Corporation Ltd (IOCL) has been appointed as Managing Director of CPCL. He has assumed the charge as Managing Director of CPCL from October 14, 2014. The 56-year more...

Cairn India’s New MD & CEO
Mayank AsharCairn India has appointed Mayank Ashar as the Managing Director & Chief Executive Officer of the Company with effect from 17th November, 2014. Ashar brings with him more than 36 years of rich & more...

Arvind Subramanian Is The New Chief Economic Adviser
Arvind SubramanianU.S. - based economist Arvind Subramanian has been appointed chief economic adviser to the government. He has been appointed for three years. Subramanian, a senior fellow at the Peterson more...

Dynamic Oil Trading Appoints New Bunker Trader
Nikita MiroshnikDynamic Oil Trading, the global trading company for marine fuels and lubricants, has announced the appointment of Nikita Miroshnik as a new bunker trader for its Worldwide bunker trading team, 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]
DGH: Changing Personalities, Changed Equations
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Gas Pricing: Only Modi Can Raise The Sisyphean Boulder
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Foreign Investment
Chempolis Of Finland To Set Up Bio-refinery In NE
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Overseas Investment
IOC To Invest $4 Billion In Candian LNG Project
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Gas Scene
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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PNGRB Gets Comments From Entities On Proposed CNG Guidelines
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SAGE’s Middle East- India Deep Water Gas Pipeline Gaining Acceptability
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Existing & Projected Re-gasification terminals and their capacity
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Natural Gas Production In 2013-14
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Projected production of domestic gas, and demand for gas in coming years.
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Which are the top 10 consuming countries of RLNG? How does India compare with them?
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Gas pricing provisions under NELP
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India's Total Gas Consumption In Last Five Years
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Natural Gas Prices In The Domestic Market
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Details Of India’s Long Term Contracts For RLNG
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Presentation on Gas Price Issues
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GAIL's Investment and Partners In City Gas Joint Ventures
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NFCL Says Unavailability Of Gas Can Lead To Accidents in Its Plant
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Great Eastern Energy is the operator of Raniganj block with 100 per cent Participating Interest.
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Different taxes and duties that are included in the prices of PNG & CNG
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Salient Features Of Turkmenistan - Afghanistan - Pakistan – India (TAPI) Gas Pipeline Project
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Difference In Specifications Of LNG Ships In GAIL's Two Proposals
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GAIL's Proposal To Bail Out Gas-starved RGPPL
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National Gas Hydrate Program Seeks Defence Clearance For R& D Wells
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
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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Details Of Crude Processed in Indian Refineries In Last 10 years, Capacity Utilisation
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Crude Supplies From Iraq Continues Unaffected By Turbulence
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India's rising crude import dependence
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Retail Selling Price of AUTOMOTIVE FUELS in Indian cities as on 25th October, 2014
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Who Enjoys What Share In India’s Crude Import Basket?
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Additional Secretary Committee Report On Review of Royalty Computation
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What is the quantum of petroleum products India will produce in FY 2014-15?
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Crude Oil Production Estimate: 2014-15
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Demand Estimates for Petroleum Products For FY 2014-15
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India’s Estimated Import Bill On crude, Products, LNG In Different Scenarios For FY 2014-15.
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Product-wise petroleum supply-demand situation for FY 2014-15
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DGH- Prepared Production Status Report On RIL-operated D1, D3, MA Fields
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India's Refining Capacity, Existing, Under Expansion, New Refineries
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Indian Oil Corporation Ltd.
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