Policy
Refinery Margin Hedging Favoured For Crude Imports
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Should New Exploration Round Give Flexibility On Timelines?
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GAIL Plans Potential New Gas Procurement Deal In The US
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Will Government Be Able To Finally Monetize Marginal Oil & Gas Fields?
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ONGC Looking To Divest Stake In Petrochemical And Power Ventures
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Long Road Ahead For IOC’s Ennore LNG Project
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Regulation
ONGC, OIL Tie Up With Foreign Cos To Revive Old Wells
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OISD Not To Extend ‘Consent To Operate’ To ONGC Production Complexes
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Kharsang Field: CRL Hiked, Excess Development Cost Axed
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Focus Energy Seeks Approval For Integrated DoC For Discoveries
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Alternative Energy / Fuel
Large Import Saving Expected From Ethanol Blending
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New Projects
Development Of ONGC’s B-193 Cluster Fields
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ONGC To Re-develop Mumbai High (South)
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IOC To Set Up Polypropylene Plant At Paradeep
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GAIL, Partners Form SPV For TAPI Pipeline Project
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Integrated Development of Mukta, Bassein and Panna Formations
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Market Watch
Charge of Cartelisation Again
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Companies
INTECSEA
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Oilex Commences Cambay-77H Production Test Shut-in Period
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Praj Industries Gets Order From Brazilian Firm
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Cairn India To Tap Canadian Oil Field Service Cos
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ONGC Ropes In Intecsea To Develop K-G Block
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Press Release [FREE Access]
Latest Exclusives
November 27, 2014: Public Sector Oil Marketing Companies such as IndianOil, Bharat Petroleum and Hindustan Petroleum have been strengthening their cooperation in recent years. This is not because of any specific instruction from the government, but out of their realization that they stand to benefit in the face of growing competition from the private sector. Accordingly, Indian Oil Corporation and Bharat Petroleum Corporation did bid jointly for the proposed Kochi–Coimbatore–Erode-Salem LPG pipeline. The Boards of both the companies have now cleared the formation of Joint Venture for the purpose. Click Column Special Reports for details. 

November 26, 2014: Even as NaftoGaz India Pvt Ltd which cheated India’s state-owned ONGC and private sector players such as Reliance Power, GeoPetrol, Adani Enterprise and Welspun Plastics is facing liquidation, Directorate General of Hydrocarbons has sent notices to its Indian partners to pay up for unfinished Minimum Work Program in the Production Sharing Contract blocks awarded to them. Click Column IOG Exclusive for details.

November 25, 2014: In Our previous article in this column (November 10, 2014), we argued that BP had taken a very bold decision in stumping up $7.2 billion in 20-and-odd RIL-operated Production Sharing Contract (PSC) blocks and offered to come up with a piece on the Risks which BP was running into. It now turns out that BP was prompted by the report of Gaffney, Cline & Associates that KG D6 has huge gas reserves in the deep waters of D1, D3 fields. BP must have got it confirmed. But the risks look equally huge as the PSC violations are of an unprecedented nature. Will RIL-BP-Niko combine be able to ‘manage’ these violations? Click our popular Free Access Column Petro Intelligence to read an exclusive and comprehensive report on the issue.

Prime Minister Narendra Modi has a functioning style which is significantly different from that of his predecessors. Not much sound and fury. Lobbyists are finding it difficult to penetrate the decision making process, says P. Balakrishna in Guest Column

India’s ministry of petroleum and natural gas has of late been considering various options to stream line and improve upon the crude import mechanism. Refinery margin hedging is one of the proposals being examined. Timelines are sacrosanct in any production sharing contract. Powerful contractors have begun lobbying for a change. GAIL is planning to make fresh gas procurement in the US. These are among the six exclusive reports in Column Policy . Column Regulation has four reports. 

November 24, 2014: RIL-operated deep-water offshore block in the Krishna-Godavari basin, KG-DWN-98/3 (KG-D6), has been at the centre of a controversy following the downgrading of gas reserves from 11TCF to 3 TCF. The entire block was first declared a discovery area and subsequently reversed with mandatory relinquishment. We have collected the present status of the block in terms of area retained and discoveries made. Click Column Special Reports for details.
Today's News [FREE Access]
Expert report on ONGC-RIL gas dispute by June: Dharmendra Pradhan
November 27, 2014: International expert D&M will by June next year submit its report on ONGC's claims of gas from its KG basin find seeping into the neighbouring gas field operated by Reliance Industries, Oil Minister Dharmendra Pradhan has said. Oil and Natural Gas Corp (ONGC) had in May filed an extra-ordinary writ   more..


Near its 3-year low, is Cairn's stock a steal?
November 27, 2014: Cairn India (Cairn) scrip has corrected 18.5% in the past one year and continues to be under pressure. The stock, which fell to three-year low of Rs 258.30 on 14 November, is not far from these levels at Rs 270.50 currently. Weakening crude oil prices, Cairn's inability to ramp up production and   more..


Numligarh Refinery Limited chalks out Rs 200 billion refinery expansion plan
November 27, 2014: Numligarh Refinery Limited (NRL) has chalked out a Rs 200 billion refinery expansion plan to increase its present capacity from the present 3 million metric ton per annum (MMTPA) to 9 MMTPA. PSU major Bharat Petroleum Corporation Limited holds 61.65 per cent stake in NRL, while Oil India Ltd and the Assam   more..


RIL pipped ONGC on transparency within two years
November 27, 2014: India’s largest private sector petroleum explorer Reliance Industries (RIL) pipped its state-run counterpart Oil and Natural Gas Corporation (ONGC) on transparency within two years through 2014, according to reports published by Transparency International (TI). The Berlin-based anti-corruption   more..


Building global oil power, China's reserves far ahead of plan
November 27, 2014: China is estimated to be holding double the amount of crude in its strategic reserves than its official plan has revealed, as the world's top energy consumer takes advantage of a dive in prices to strengthen its position in the global oil market. Based on data compiled by industry and consulting   more..


Coal India, ONGC stake sale: Government seeks bidders' list
November 27, 2014: In an unusual move, the government has asked investment bankers managing stake sales in Coal India and ONGC to provide the names of potential buyers, and indicate how much they're likely to bid -known in the trade as the 'shadow book' -before kicking off its asset-sale programme. The government   more..


Saudi Arabia's Ali al-Naomi sees oil market 'stabilising itself'
November 27, 2014: OPEC leader Saudi Arabia signalled on Wednesday it was unlikely to push for a major change in oil output at the producer group's meeting this week, a day after Russia refused to cooperate in any production cut and threatened to unleash an oil price war. Saudi Oil Minister Ali al-Naimi said he expected   more..


Global crude oil price of Indian Basket was US$ 76.91 per bbl on 25th November, 2014
November 27, 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$ 76.91 per barrel (bbl) on 25th November, 2014. This was lower than the price of US$ 78.27 per bbl on previous publishing day   more..

Petropulse / Guest Column
Petroleum Sector & Modi Style Of Governance
Narendra ModiWhat characterizes the Modi form of governance? Based on the decision taken during the first six months, we take the oil and gas sector to cull out the salient features of what constitutes the Modi model of more...

IOG Exclusive
NaftoGaz India Lands Indian PSC Partners In Trouble
November 26, 2014: It was faking its identity that NaftoGaz India became operator of three Production Sharing Contract blocks, CB-ONN-2004/5, AA-ONN-2004/4, and MZ-ONN-2004/2. After the Ministry of Petroleum and Natural Gas terminated the contracts, Indian partners initially tried to get an operator to keep the more...

GAIL Seeks Reimbursement of Expenses Incurred As Government Nominee
November 20, 2014: In January this year, GAIL approached the Ministry of Petroleum and Natural Gas (MoPNG) with a list of legal and VAT expenses it incurred in its capacity as being the government nominee for supply of APM and PMT (Panna, Mukta, Tapti) gas. GAIL has been making these gas supplies as per orders, more...

Oil India Drops Coal Liquefaction Project
November 17, 2014: Oil India Limited (OIL) took up a pioneer R&D project on coal liquefaction on the advice of the government. North-Eastern states of the Country have proven reserve of about 467 MMT of Tertiary coals which are ideally suitable for direct conversion to liquid fuel due to special characteristics like low more...

RIL Seeks An Agreed Abandonment Plan For Mid & South Tapti Fields
November 12, 2014: Reliance Industries Ltd which is a partner in the BG-led consortium which operates Mid & South Tapti fields on the West Coast has made it clear that ONGC as the government nominee can choose to take Tapti assets free of cost “but including abandonment obligation”. Under the more...

Private E& P Operators Opposed To Sharing Of Offshore Security Expenses
November 7, 2014: The Directorate General Of Hydrocarbons (DGH) had constituted a committee with a mandate to finalise a system of cost sharing for the capital cost of 23 offshore security vessels (ISVs) procured by ONGC. The cost was to be shared by private E&P operators. The private E&P Operators more...

RIL-led Consortium Drills One Investigative Well In D1, D3, DGH Response Awaited
November 5, 2014: In its attempts to enhance production from DI, D3 fields in KG D6, RIL-led consortium drilled one investigative well to find out the prospects of the undrained areas near B7 well bore. The results were submitted to DGH in the second week of October 2014. If the results are found to be more...

Loss in Oil/Gas Production due to cyclone
November 4, 2014: The following details have been received from the Operators of the offshore blocks/fields under the PSC regime in respect of estimated loss in oil/gas production due to cyclone "HUDHUD" more...

Security Arrangements For SPMs Operated by Cairn India Ltd
October 31, 2014: SPM at Ravva, Bay of Bengal - Located 12 NM/21.6 km from shore, with Kakinada (60NM) as nearest port. This is declared a minor Port and Port conservancy powers are vested with the Port Officer, Kakinada Port. Currently the SPM security is monitored by a dedicated vessel secured to it. In more...

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...

Special Reports
IndianOil and Bharat Petroleum Forming Joint Venture For Kochi-Coimbatore-Erode–Salem LPG Pipeline
November 27, 2014: The Boards of Indian Oil Corporation and Bharat Petroleum Corporation last year approved the proposal for joint bidding for the notice issued by the downstream regulator PNGRB for the LPG pipeline from Kochi to Salem. Accordingly, bid was submitted by the more...

Present Status Of RIL-operated block KG-DWN-98/3 in terms of the area retained and discoveries made
November 24, 2014: RIL-operated deep-water offshore block in the Krishna-Godavari basin, KG-DWN-98/3 (KG-D6), has been at the centre of a controversy following the downgrading of gas reserves from 11TCF to 3 TCF. The entire block was first declared a discovery area and subsequently reversed with mandatory relinquishment. We more...

IOC’s Paradip Refinery Project: A Status Report
November 19, 2014: Indian Oil Corporation’s 15 million ton per annum Paradip Refinery in the state of Odisha is scheduled for completion in February 2015. The project could not be completed as targeted on account of various factors. We have obtained the latest status of the project. more...

Status Of Crude Oil Strategic Storages
November 14, 2014: India had undertaken construction of three underground crude oil storage in unlined rock caverns at Visakhapatnam (1.33 Million metric ton), Mangalore (1.5 MMT) and Padur (near Udipi, 2.5 MMT) including pipelines and associated facilities. Original Completion Schedule: more...

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...

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...

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
SV Rao Has Been Appointed ED & CEO Of Tata Petrodyne
S.V. RaoS.V Rao is the former director exploration of ONGC. SV Rao has over three-and-a-half decades of experience in exploration and exploitation of oil and gas fields covering the entire gamut of field exploration, well more...

Essar Oil appoints Manish Maheshwari as CEO – E& P
Essar Oil Limited  announced the appointment of .Manish Maheshwari as Chief Executive Officer - Exploration & Production. With around 23 years of experience,  Maheshwari till recently was the Managing Director of Hindustan Oil Exploration Company Ltd. As CEO-E&P,  Maheshwari 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]
Contract Violations Amplify BP’s Risks
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BP’s Gas Hunt: Widening The KG Horizon
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Foreign Investment
Shell India Wins Tax Case
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Overseas Investment
OVL Bids For Oil And Gas Block In New Zealand
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Gas Scene
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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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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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Break-up of actual crude oil imports by PSU oil companies for the last three financial years
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Retail Selling Price of AUTOMOTIVE FUELS in Indian cities Updated as on 25th November, 2014
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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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Details Of Crude Processed in Indian Refineries In Last 10 years, Capacity Utilisation
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India's rising crude import dependence
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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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Details of OVL's Assets (As on January, 2014)
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Tenders [FREE Access]
Cairn India Limited
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Cairn India
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