Policy
Trading Desk Approach For Crude Imports Recommended
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Duty Hikes Indicate Not Much Has Changed In The Petroleum Sector
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OVL Needs To Respond Cautiously To New Russian Offer
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Several Issues Remain To Be Sorted Before Gas Pooling Becomes A Reality
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New Subsidy-sharing Mechanism On The Anvil?
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GAIL Revises Policy For Corporate Guarantee To Subsidiaries, JVs
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Regulation
CAG Imputes RIL- MoPNG Collusion On Relinquishment Issue
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ONGC, OIL Asked To Explore In Difficult Frontiers
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MoPNG Raises Questions Of GSPC’s Ring Fenced PSC
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ONGC Seeks 482 Days Of Excusable Delay For Block In West Bengal
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Alternative Energy / Fuel
Ethanol Blending Program Runs Into Problems In Five States
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New Projects
Vietnam To Export $70 Million Oil Rig Part To India
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CPCL Seeks Incentives For Resid Up-gradation Project
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Oilex Completes Cambay-77H Production Test
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Market Watch
MRPL Moves 6200 MT of Petcoke Through Barge To Tamil Nadu
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GAIL To Procure Natural Gas For Liquefaction At Cove Point
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Companies
Praj Industries Limited
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Dolphin Geophysical Gets Two 3D Seismic Contracts In India
more...


Petrolight Ties Up With Aratos
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Jubilant Energy Announces Interim Results
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Hardy Oil And Gas Interim Results
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Press Release [FREE Access]
Latest Exclusives
December 19, 2014: Government has begun the process of revising the subsidy scheme for LPG. Government’s petroleum think tank, PPAC, and Oil Marketing Companies (OMCs) are in the process of collecting the required data for their deliberation. Click IOG Exclusive for details

December 18, 2014: On December 16, we carried in Column Special Database country-wise export of petroleum products. India meets about 80 per cent of its crude requirement through imports. We have obtained the data regarding country-wise, region-wise import of crude up to September 2014. Click Column Special Database for details.

December 17, 2014: Cairn India Ltd (CIL) is in a fix over the move to have an additional delivery point in the neighbouring Gujarat for sale of its gas produced from the state of Rajasthan. The Rajasthan government is totally opposed to the move and DGH too maintains that additional delivery point is not permitted under the Production Sharing Contract. Click IOG Exclusive for details. 

December 16, 2014: India is a major exporter of petroleum products. Its products are exported to as many as 72 countries. We have obtained the country-wise export of products since FY 2011-12. Click Column Special Database for details.

December 15, 2014: Well-known geologist Kottilil Narayanan* in our Guest Column of 10th October, 2014 (Vol 21, Issue 13) predicted an oil price war. In the subsequent Guest Column (Vol 21, Issue 14), Ravinder Kumar, a known petroleum trading expert, ruled out a price war as such and contended that crude price would stabilize around $ 70-75 a barrel. Narayanan now feels that oil price war has started. The subject is of immense interest to India as it imports 80 per cent of its crude requirement. Click Column Special Reports for his views.

December 10, 2014: Why did upstream major Oil and Natural Gas Corporation (ONGC) go slow in developing the discoveries in its deep-water block KG D5? It was definitely not in the interest of ONGC. Even as the new management headed by D.K. Sarraf decided to give priority for putting these discoveries into production latest by 2019, a whispering campaign has begun to the effect that ONGC will not be able to do it without the help of a foreign partner with experience in deep-water production. Reliance Industries Ltd (RIL), a polyester manufacturer with no experience whatsoever in any area of E&P produced gas and oil from the adjacent KG D6 without a foreign partner with expertise in deep-water production. GSPC, a pigmy in comparison, not older than RIL in E&P, has almost implemented Field Development Plan for its deep-water Deendayal block without a foreign partner. Was there an attempt to wreck ONGC’s project? Click Our Free Access Column Petro Intelligence to read the real story.
Today's News [FREE Access]
Mid-Year Economic Review projects 5.5 per cent growth
December 20, 2014: Despite the sprouting of green shoots, a robust recovery is still to fully take hold, says the Mid-Year Economic Analysis for the current year, tabled in Parliament by Union Finance Minister Arun Jaitley. The Review projects 2014-15 growth will be 5.5 per cent. India faces challenges that are mostly   more..


Oil price bloodbath to spark energy sector buying spree
December 20, 2014: Large oil companies flush with cash are expected to seize on the recent collapse in oil prices to begin a shopping spree for smaller rivals, focusing on oil producers and explorers in Africa, Asia and the United States. With benchmark Brent crude prices nearly halving over the past six months to $60 a   more..


Petrol, Diesel to cost more in Rajasthan after VAT increase
December 20, 2014: Rajasthan government has announced an increase in Value Added Tax on petrol and diesel prices, making the fuel costlier. It raised VAT on both the products by 4 per cent, leading to an increase of Rs 1.98 per litre in petrol and Rs 1.76 per litre in diesel. As a result, petrol will cost Rs 66.28 per litre,   more..


Green fuel projects likely to get top priority for gas
December 20, 2014: The oil ministry proposes to change the pecking order for earmarking domestic natural gas, putting green fuel projects on top with a view to easing kitchen subsidy burden and cleaning up the air in cities. The basic thinking behind the move is that it would take very little additional gas to expand green   more..


OMCs scrap 10 million cooking gas connections
December 20, 2014: State oil marketing companies (OMCs) have quietly disconnected about 10 million bogus cooking gas connections and plugged leakages of over Rs 34 billion annual subsidy, while continuing their effort to track unscrupulous consumers with multiple connections through know-your-customer (KYC) details. More than   more..


Refinery production declines 0.5% to 147 mt in April-November FY2015
December 20, 2014: India's crude oil refinery output jumped at 20-months high pace of 8.1% to 19.21 million tonnes (mt) in November 2014 over a year ago, in addition to healthy 4.2% increase posted in the previous month. The output of public sector refineries surged 10.7% to 10.31 mt. Meanwhile, the output of private   more..


CBM policy: Five lessons for the new govt
December 20, 2014: As the petroleum ministry proposes a new approach to exploiting CBM reserves, we look at areas where govt could learn from past experience. The petroleum ministry on Friday proposed a new approach to exploiting the country’s coal-bed methane (CBM) reserves for reviving investor interest in exploration   more..


Global crude oil price of Indian Basket was US$ 58.22 per bbl on 18th December, 2014
December 20, 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$ 58.22 per barrel (bbl) on 18th December, 2014. This was higher than the price of US$ 57.29 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...

Crude Oil Prices
Ravinder KumarOctober 25, 2014 | International 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 more...

Forecasting A Fall In Crude Prices
by Kottilil Narayanan* | October 10, 2014 | From the point of view of India’s security, from all angles including energy security, the current geopolitical situation in West Asia demands an immediate assessment of the impact of a fall in price of oil. There is clear more...

IOG Exclusive
LPG Subsidy Scheme Being Reviewed For Modification
December 19, 2014: Petroleum Planning And Analysis Cell (PPAC) had an initial meeting with the industry to examine the modalities to be followed for assessment of under recoveries presently being borne by the OMCs with respect to: LPG import losses Capping of marketing costs & margins at 2002 more...

Rajasthan Government Opposes Cairn India’s Move To Export Domestic Gas To Other States
December 17, 2014: Anil Aggarwal-Controlled Cairn India Ltd (CIL) has approached the Directorate General of Hydrocarbons (DGH) seeking permission to set up an additional delivery point at Palanpur in Gujarat for gas sales. The move has met with stiff resistance from the government of Rajasthan which in writing more...

MoPNG Concerned Over Delayed Projects, Decline In Crude Production, GRM
December 11, 2014: A review meeting called by Secretary of Ministry of Petroleum and Natural Gas revealed that as many as 55 out of a total of 86 projects under implementation have been delayed. The remaining 21 are expected to be completed by March 2015. more...

Petrotel Appointed To Recommend Good International Petroleum Industry Practices
December 8, 2014: There is a growing perception that India’s E&P sector does not conform to Good International Petroleum Industry Practices (GIPIP). The Ministry of Petroleum and Natural Gas (MoPNG) has been concerned over the violations of the GIPIP by some of the PSC operators and decided to appoint a consultant more...

HPCL’s Proposed 9 Million Ton Refinery In Rajasthan Remains Stalemated
December 1, 2014: The state government of Rajasthan moved heaven and earth to have a nine million ton per annum refinery in the state. The state has been lobbying for the project for over decade now and when almost everything has been done by both the promoter HPCL and the Ministry of Petroleum and Natural Gas (MoPNG) to more...

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...

Special Reports
The Oil Price War of 2014
Kottilil NarayananDecember 15, 2014: Even the famous Hubbert’s Peak of 1970 did not mean reduction in US demand for crude. After 1970, US consumption went up from 11 MM bopd to 18MM bopd by more...

Auditing Of RIL-Operated KG D6 As Narrated by CAG
December 9, 2014: We had reported in these columns the duel between official auditor, Comptroller and Auditor General (CAG), and Reliance Industries Ltd(RIL), the operator, over the auditing of Production Sharing Contract Block, KG-DWN-98/3( KG D6). The story has now come out in the CAG Report which has been more...

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...

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
CPCL Director (Technical) Appointed
U. VenkataramanaU. Venkataramana has assumed charge as Director (Technical) of Chennai Petroleum Corporation Ltd (CPCL). Prior to this appointment, he was General Manager (Technical Services) at Mathura Refinery of more...

New Joint Leadership At Oiltanking
Effective January 1, 2015, Oiltanking GmbH will have a new joint leadership consisting of two Managing Directors, Koen Verniers and Daan Vos, with dedicated geographic responsibilities. Koen Verniers and Daan Vos both have been working for Oiltanking for more than 17 resp. 14 years in various 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]
ONGC: Another Whisper Campaign To Scuttle Venture?
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Contract Violations Amplify BP’s Risks
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Foreign Investment
Oilex Receives Endorsement For Sale Of Gas
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Overseas Investment
MRPL Signs MoU With STC-M For Petroleum Terminal
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Reliance Signs MOU With Pemex
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India And Mozambique Ink Oil And Gas Collaboration Agreement
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Gas Scene
KG D6: Sales Of Gas, Crude, Condensate, Expenditure, Profit Petroleum
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Shrinking Availability Of APM Gas complicates Domestic Gas Scene
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GAIL Advises Against Transfer Of Excess Funds In Gas Pool Account To ONGC, OIL.
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Non-grant of PEL by State Government for the CBM blocks
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Indian Team Holds Talks In Japan To Finalise Next National Gas Hydrate Expedition
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Gas pipelines Being Taken Up, Under Construction
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Government Finally Announces Price Of Domestic Gas
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The sector wise natural gas supply during FY 2013-14
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Revision of Domestic Gas Prices
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Gas Pipeline Utilisation As on March 31, 2014
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Performance Audit on ‘Supply and Infrastructure Development for Natural Gas’
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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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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Import of Crude Region wise/ Country wise during 2011-12 to 2014-15 (April-September)
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Country-wise Export of Petroleum Products during 2011-14 and 2014-15
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Oil & Gas Projects to be completed by 31st March, 2015
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Oil & Gas Discoveries under PSC regime
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Drilling Performance Of ONGC, OIL During FY 2014-15
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Break-up of actual crude oil imports by PSU oil companies for the last three financial years
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Retail Selling Price of AUTOMOTIVE FUELS in Indian cities Updated as on 10th December, 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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Crude Supplies From Iraq Continues Unaffected By Turbulence
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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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Tenders [FREE Access]
Oil & Natural Gas Corporation Ltd. (ONGC)
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Cairn India Limited (International Competitive Bidding)
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