Policy
Oil Price Unlikely To Come Down: Phased Reversal Of Crude Oil Production Cut A Bold Decision But…
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Crude Production Increase Unlikely To Benefit Hapless Indian Consumers
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India’s Growing Appetite For Gas Despite Shortages, Low Consumption
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Oil Major bp’s Indian Operations, New International Strategy
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As Crude Prices Stabilise, Refineries’ GRMs To Come Under Pressure
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Regulation
Contrary To Predictions, Domestic Gas Pricing Back To Square 1
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HPCL To Be A Force In India’s Growing LNG Market
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Govt.’s Losing Streak In Petroleum Related Legal Battles Halted
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IndianOil’s Tryst With Hydrogen As Fuel For Vehicles
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Alternative Energy / Fuel
Deep In Fossil Fuel Business, IOC Attempts Clean Energy play
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New Projects
Technip Energies Awarded Contract To Upgrade the Barauni Refinery
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BHEL Secures Order For Sulphur Recovery Unit From IndianOil
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Market Watch
Gujarat Added Most CNG Stations In India
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Companies
Mahanagar Gas Limited
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MEIL Deploys Indigenously Developed Hydraulic Rigs In Kalol Oil Fields
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Confidence Petroleum To Set Up Rs 2 Bn CNG Cylinder Making Unit
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Ather Energy Installs 10 Fast Charging Stations Across Mumbai
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Press Release [FREE Access]
Latest Exclusives

April 12, 2021 | The “Ugly Spat” And Some Hard Truths: The sharp spat between India and Saudi Arabia over the rising crude oil price had surprised the oil industry circles. The Financial Times called it an “ugly spat “.Both countries have been making a lot of effort in recent years to move closer. Prime Minister Narendra Modi took the initiative in breaking the ice which raised expectation of a big ticket investments flowing into India from countries like Saudi Arabia and United Arab Emirates. Saudi crown prince Mohammed bin Salman promised investment worth $100 billion over the next two years. Many in India believe that Pradhan has a strong point when he bats for a lower price. After all, India imports close to 84 per cent of its crude oil requirements, making it the single largest item of foreign exchange outgo. At the same time, Saudi Arabia opted for production cut not to maximise its oil revenue but to stabilise oil price. No one wants oil prices to fluctuate widely. The spat raises a question: Should India demean itself by importuning the OPEC for favours? Click Free Access column Petro Intelligence for a comprehensive piece on the subject.

Column Policy has five subjects :the phased reversal of crude production by OPEC + is unlikely to bring down crude price; the hapless Indian consumers facing the highest ever retail prices for petrol and diesel are unlikely to be benefit by the production increase; India has vaulting ambition about natural gas despite the low reserves, shortages and low consumption; oil major bp’s increasing activities in India are in tune with its revised global strategy; crude oil stability may impact GRMs of Indian refineries adversely.

Column Regulation discusses four subjects: the revised prices for domestically produced gas has come as a disappointment for the industry; HPCL which was ignored in government plans for LNG business is poised to emerge as a force with its new LNG regasification terminal on the west coast; the government’s losing streak in petroleum related legal battles has been halted; IndianOil is making great progress in its foray into hydrogen as fuel for vehicles. There are exclusive reports in almost all other columns as well.


April 9, 2021: The electric grid has been around for nearly 140 years, but it’s yet to overcome its biggest nemesis: the weather. Recent prolonged blackout in Texas (Snow storm) is showcasing that point as it suddenly rivals California (Forest wildfires) in proving the need for microgrids. Sustainable energy is the sustainable provision of energy that meets the need of the present without compromising the ability of the future generations to meet their energy needs. Says The Baroda-based, Centre For Fuel Studies and Research, in its report : Future Power Grid Vision - Grid Of Microgrids - Part 1. Click column Special Reports for details.
Today's News [FREE Access]
India becomes largest buyer of US crude in first quarter of calendar year 2021
April 12, 2021: India has emerged as the top buyer of US crude in the first quarter of calendar year 2021 from second-biggest buyer last year as the world’s third largest oil consumer looks at alternate sources of crude amidst a spat with Saudi Arabia, the world’s largest producer, to lift output curbs, and rein   more..


Cairn offers to forego USD 500 mn if India agrees to pay principal due
April 12, 2021: UK's Cairn Energy Plc has offered to forego USD 500 million and invest that amount in any oil and gas or renewable energy project identified by the Indian government if New Delhi agrees to honour an international arbitration award and returns the value of loss it incurred because of being taxed   more..


L&T wins EPC contract for KSA solar PV plant
April 12, 2021: The Renewables arm of Larsen & Toubro’s Power Transmission & Distribution Business has secured a turnkey EPC Contract, from the consortium of ACWA Power and the Water and Electricity Holding Company (a subsidiary of the Public Investments Fund of Saudi Arabia (PIF)), for Sudair Solar PV Project   more..


Russian oil producers struggle to contain gas flaring
April 12, 2021: Oil producers reduced gas flaring only slightly last year and failed to reach a targeted level by a large margin, hampered by a lack of necessary infrastructure at new oilfields, a draft government document seen by Reuters showed on Friday. Flaring, or the combustion of gas generated by various   more..


IFC proposes $50mn debt finance for Thar Surya solar power project
April 12, 2021: International Finance Corporation (IFC) plans to debt finance the construction of Thar Surya 1 Pvt Ltd's 300 MW solar power project in Bikaner, Rajasthan by $50 million. Apart from lending $50 million, IFC will also mobilise $100 million debt through parallel lenders. According to   more..


Aramco signs $12.4 bln pipeline deal with EIG-led consortium
April 12, 2021: Saudi oil giant Aramco on Friday entered into a $12.4 billion deal with a consortium investors led by EIG Global Energy Partners that would give the investor group a 49% stake in Aramco’s pipeline assets, the two companies said. This is the first major deal by Aramco since its listing in   more..


Oil Posts Worst Week in Three With Demand Recovery in Focus
April 12, 2021: Oil posted its worst week in three amid concerns that rising global coronavirus cases are slowing the economic recovery. West Texas Intermediate futures ended the week down 3.5%, the biggest weekly loss since mid-March. With the Organization of Petroleum Exporting Countries and its allies planning to start   more..


Petrol and diesel prices in Hyderabad, Delhi, Chennai, Mumbai remains stable on 11 April 2021
April 12, 2021: Petrol and diesel prices in major cities on Sunday are stable for the last two weeks. The fuel prices have been dropped in the last week. The fuel rates mentioned below are due at 6 am and are subject to change at anytime as the petroleum companies such as Bharat Petroleum Corporation Ltd (BPCL), Hindustan   more..

Petropulse / Guest Column
To make sense of sensational news covering high petrol and diesel prices
Dr. B hamy V ShenoyDr. Bhamy V Shenoy | March 15, 2021: Under UPA when crude oil price reached a high of $147 per barrel in May, 2008, petrol price in Delhi was around Rs. 50 per liter. On February more...

IOG Exclusive
Glut In US Crude Pushes Down Price : Indian Wrestling With Options.
On Friday oil prices went down by 5 per cent. WTI $67.50/barrel; Brent 76.40/barrel. This difference between WTI and Brent is confusing. Normally Brent should only be about $2 costlier at most. According to market experts, the lower WTI price has to do with a glut of production in the US and lack of more...

IOC steps into Oman with acquisition
Indian Oil Corp (IOC), the country's largest Oil Marketing Company (OMC), recently acquired global major’s Shell's stake (of 17 percent) in the Makhaizna oilfield in Oman for more...

Some good news for the Indian partners from Mozambique
The Mozambique project in which Indian firms ONGC Videsh Ltd (OVL) and Bharat Petro Resources Ltd (BPRL) have a stake has seen some positive news of late. Anadarko Petroleum’s, (the operator) plan to export LNG from Mozambique’s Rovuma Basin through its two trains moved closer to achieving the crucial Final more...

Visit of Iranian President opens a sliver of hope for Farzad-B deal?
The Indian side seems to be making one last concerted effort to revive the proposed Indian investment to develop the large Farzad-B field in Iran during the forthcoming visit of the Iranian President Hassan Rouhani to India. The field was discovered by the Indian consortium of ONGC Videsh (OVL), Oil India Ltd (OIL) and Indian more...

Indian PSUs to Aggressively Pursue EOR/IOR Projects
Faced with declining production from its ageing fields and encouraged by the scheme of incentives in the newly announced EOR (Enhanced Oil Recovery) policy, ONGC and Oil India Ltd (OIL) are preparing to enhance their investment in EOR projects. There has been no major commercial oil or gas discovery in India more...

Iran Announces Deals With Countries, No mention Of India
A senior Iranian oil official has indicated that his country was looking to sign big deals with companies from Russia, Europe, China etc- but there was no mention of India. Iran was also looking to sign large deals with Japanese, Chinese and Korean companies for upgrading some of its refineries. This development where India more...

ONGC’s Search For Producing Assets
In recent times, there has been considerable noise generated about the Government’s proposal to allow private sector firms to take equity stake in the blocks earlier given to the flagship PSU firms on a nomination basis. This was ostensibly to help increase production from these fields, as it was felt that the private more...

CERA Week sees plenty of action
There was plenty of action at the CERA Week held in New Delhi over the past few days. It was firstly in itself notable that this forum was held in India, being normally held in Houston. In fact, the Indian Petroleum and Natural Gas Minister Dharmendra Pradhan emphasized as much and also felt that going forward, the conclave more...

Hydrocarbon Re-assessment Exercise Progressing As Scheduled
The multi-organisation team comprising Oil and Natural Gas Corporation (ONGC), Oil India Ltd (OIL) and Directorate General of Hydrocarbons (DGH) has been carrying out the exercise of reassessing hydrocarbon resources in the country. According to official sources, as on March 31, 2017, the team has completed more...

Special Reports
Future Power Grid Vision - Grid Of Microgrids - Part 1
April 9, 2021: The electric grid has been around for nearly 140 years, but it’s yet to overcome its biggest nemesis: the weather. Recent prolonged blackout in Texas (Snow storm) is showcasing that point as it suddenly rivals California (Forest wildfires) in proving the need for microgrids. Sustainable energy is the more...

Future of India’s transport story is renewable biogas
Vinod Paremalby Vinod Paremal | Biogas extracted from waste/bio-mass help India cut its dependency to import oil for meeting its needs. Petrol and diesel more...

Time for Introspection and redefining wealth and the basis for economic planning
Over emphasis on Gross Domestic Product (GDP) without taking into account the impact to Mother Earth’s Ecological systems (resource abuse) and consideration of equanimity for all has already shown the ill effects all around the world. And worse still is the fact that the sinner does not necessarily pay the price but more...

Promoting additional coal mining and production-is it green growth?
In a month when it has kicked off the auction of 41 coal fields for commercial mining, the government has released the first comprehensive national assessment of human-induced climate change and its impact on India, spelling out the consequences of persisting with a carbon-heavy path.   more...

Climate Action- Achieving Green and Inclusive Growth
The Vadodara-based Centre For Fuel Studies & Research in a report titled Climate Action-Achieving Green & Inclusive Growth has attempted to comprehend the status of climate change occurring on account of human actions concentrated on economic growth and urgency to act to rectify the situation. All the issues with more...

Crude collapse to crush US petchem advantage
By: Joseph Chang, Global Editor, ICIS Chemical Business The collapse in crude oil prices is wiping out much of the US petrochemical competitive advantage while global demand is being slammed by the continuing spread of the coronavirus. Financial markets are seizing up, throwing a wet blanket on new more...

Bina Refinery In Madhya Pradesh In News Again
Bharat Oman Refineries Ltd (BORL), jointly owned by the state-owned Bharat Petroleum Corporation Ltd (BPCL) and Oman Oil Company as a 50:50 joint Venture is in the news again.   The refinery is called Bina refinery because it is located at Bina in the more...

Views
Speech of Former Petroleum Secretary, T.S. Vijayaraghavan, on Indias 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...

Personalities
TAFE Chief Mallika Srinivasan Named Head Of PESB
Mallika SrinivasanMallika Srinivasan, Chairman and Managing Director of Tractors and Farm Equipment (TAFE) Ltd, has been named chairperson of the Public Enterprises Selection Board (PESB. It for the first time more...

Subhash Kumar Assumes Additional Charge As ONGC CMD
Subhash KumarSubhash Kumar, Director (Finance) at Oil and Natural Gas Corporation Ltd (ONGC), has assumed additional charge of the post of Chairman and Managing Director (CMD) upon the superannuation of incumbent more...

Deputy Managing Director Of MGL Resigns
Deepak Sawant, Whole-Time Director deputed as the Deputy Managing Director of MGL, has resigned as Director with effect from April 05, 2021. Deepak Sawant was designated as Deputy Managing Director of the Company with effect from May 09, 2019. Sawant has total rich experience of 28 years in Gas business which includes more...

Indian Petro Scene - In a Nutshell
On April 10, 2018 www.indianoilandgas.com entered the 25th year of service to the Indian and international oil and gas industry. When the hardcopy version with its masthead, Indian Oil & Gas, came out 25 years ago, India’s petroleum industry was almost totally controlled by the government. India was not rated high either as a producer or consumer of crude and petroleum products. Today, India is the world’s third largest importer of crude and second largest importer of LPG and Asia’s largest exporter of petroleum products. Without violating the government norms regarding dissemination of information, www.indianoilandgas.com has been consistently helping the industry with authentic articles and data on all areas of oil and gas industry.

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Petro Intelligence [FREE Access]
The “Ugly Spat” And Some Hard Truths
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Ominous Force Out To Scuttle West Coast Refinery Project
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India Awaits Lifting Of US Sanctions Against Iran, Venezuela
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Privatisation Not The Answer To Consumer Woes
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Foreign Investment
Oilex Buys GSPC Stake In Cambay PSC
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BPCL Acquires OQ’s Stake In Bina Refinery
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Overseas Investment
GE Signs Contract With Reliance Bangladesh LNG & Power
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Gas Scene
CGD Becomes An Attractive Business In India
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Sector-Wise Natural Gas Consumption In February 2021
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Domestic Natural Gas Scene in February In 2021
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Natural Gas Price Trends: Global & Domestic
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Domestic Natural Gas Scene In January Presents A Dismal picture
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Domestic Natural Gas Scene in December 2020
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Update: LNG imports over the years and sector-wise consumption of natural gas
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Update: CGD and LNG Terminals in India
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Major natural gas pipelines in India
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Latest Demand Projections for Natural Gas
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Coal Bed Methane (CBM) gas development in India
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Capacity Utilisation of LNG Regasification Terminals (As on November 1,2020)
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Market Natural Gas and CGD: Attractive Industry
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Natural Gas : Historic Data On Domestic Production, Import & Consumption
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Gas to peak last among fossil fuels
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
India’s Sinking Self Sufficiency in Petroleum Products
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Update: Domestic Oil & Gas Production vis-à-vis Overseas Production
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Fall In Capex Of PSU Oil Companies, Steep, But Less Than Feared
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India’s Petroleum Products Import Up In February
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Crude Oil Import Declines In February, OPEC Share Down
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Petroleum Products Consumption Recovery Crosses 95% In February
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Power supplied and deficit: Region-wise position for February 2021
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Analysis of Crude Oil Processed By Indian Refineries In February 2021
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Gross Refining Margins (GRM) of Indian Refineries (April-December 2020)
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End-use Analysis Of HSD Sales
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Historical data: Share of Imported and Domestic Crude in total processing
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Indian Rig Count Drops As The Global Rig Count Goes Up
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Update of Fuel & Loss in Indian Refineries
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Rising Crude Price Pushes Up Global Rig Count
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Update of Specific Energy Consumption in PSU Refineries
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Price movements in Indian Basket in February 2021
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Passenger Vehicle, Two Wheeler Sales Clock Growth In January
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Domestic Natural Scene In January 2021
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Break-up of consumption data (PSU and Private)
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Tenders [FREE Access]
ONGC
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ONGC - Frontier Basin, Dehradun
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