Policy
All Eyes On FID For LNG Trains In Mozambique
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OMCs Should Be More Bold On Overseas Acquisitions Now
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Current Crude Oil Prices Begin To Affect ONGC And OIL
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E&P Operators Won’t Be Allowed To Export Crude, Gas
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Cheap Oil May Elude India’s Strategic Oil Reserves
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Regulation
Ravva Consortium To Seek Extension Of Production Sharing Contract
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OVL-OIL Launch Seismic Surveys In Bengal Blocks
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A Reluctant ONGC Wants Higher Price For Deep-Water Gas
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Indian Refineries Prefer Domestic Crude To Imported Crude
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PNGRB Rejects IGL’s Objection To CNG Retailing In Delhi
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Alternative Energy / Fuel
Wheat-Based Ethanol Plant
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Uttar Pradesh Is Highest Producer Of Ethanol
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New Projects
Golar LNG Signs MoU With Schlumberger
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Gas Cracker Project In Assam Inaugurated
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NRL Wax Plant Dedicated
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India’s First Microturbine To Produce Power From Landfill Gas
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Market Watch
Demand For Bitumen Shoots Up In South India
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Companies
Fabtech Projects And Engineers
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HPCL, GAIL To Be Equal Partners In Petrochem Project
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Oilex Limited 4th Qtr 2015 Highlights
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Lubrizols Gujarat Plant To Begin Production
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Pawan Hans Plans Offshore Wing For Oil, Gas Exploration
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Press Release [FREE Access]
Latest Exclusives

February 11, 2016: Click Gas Scene for Updated City Gas Distribution (CGD) Factsheet. 


February 10, 2016: The headline of our piece has two words “ bold” and “baffling”. Yes, the decision of the Modi government to set up a 60 million ton per annum refinery on the West Coast of India in the state of Maharashtra is certainly bold. It is baffling because Indians are not known to seize on a forecast and plan so far ahead of the deadline which is 24 years away. The trigger cannot be the forecast, but something else. Some industry veterans perceive it as an attempt to rein in Mukesh Ambani-operated refineries on the coast of Gujarat. Put positively, it can be a sincere attempt of the government to prepare the state-owned Oil Marketing Companies to compete with RIL in the international market. A healthy competition should always be welcome. But the fact remains that a huge refinery of 60 million ton capacity can negatively impact the downstream fortunes of RIL whose upstream dreams have been shattered with the collapse of KG D6. Click Free Access column Petro Intelligence to read an exciting piece.

Guest Column by Ravinder Kumar, a petroleum trading expert, is on the twists and turns in the international crude market.

Column Policy has five exclusive reports; Column Regulation has four.


February 9, 2016: Do petroleum product dealers get an adequate commission? A large number of retail outlets are owned by politicians and quite a few of them resort to adulteration of products such as petrol and diesel. Will an enhanced commission to dealers put an end to the menace of adulteration? Click Column Special Database for details of dealers commission on petrol and diesel.
February 8, 2016: Essar Refinery has always been in the news. Of late, the report was that the Russian company Rosneft was taking stake in it. The latest is that Rosneft is being replaced by Saudi Aramco. What could be the truth? Click column IOG Exclusive for details.
February 5, 2016: There does not seem to be much of a difference in the data on Fuel & Loss in Indian refineries. We are uploading data for the first half of FY 2015-16. Click Column Special Database for details.
Today's News [FREE Access]
UAE's Adnoc to store crude in India's strategic facility; to give two-third of oil for free
February 11, 2016: In a first of its kind deal, UAE's national oil company Adnoc has agreed to store crude oil in India's maiden strategic storage and give two-third of the oil to it for free. India, which is 79 per cent dependent on imports to meet its crude oil needs, is building underground storages at   more..


ONGC mulls $500 million investment in Venezuelan field
February 11, 2016: Oil and Natural Gas Corp. Ltd (ONGC), India’s biggest explorer, may invest as much as a half billion dollars to revive a faltering Venezuelan field. The company’s overseas unit ONGC Videsh Ltd, which owns a 40% stake in the San Cristobal field in the Orinoco heavy-oil belt, is seeking to boost   more..


Netoil negotiating with banks to get back into race for Rs 40 billion takeover of Nagarjuna Oil Corp
February 11, 2016: Netoil has revived its pursuit for Nagarjuna Oil Corp, Tamil Nadu's largest private sector oil refinery, with state-owned Hindustan Petroleum Corp and one West Asian investor also joining the race for the Rs 180 billion project. According to sources in the know, the Nagarjuna Group is racing to cement a   more..


Essar Oil says “advanced talks” with Rosneft on; no comments on Aramco stake sale talk
February 11, 2016: Essar Oil's is in advanced talks with to sell 49 per cent stake to Russian energy major OAO Rosneft but the deal is likely to take more time. The company's management declined to comment of media reports of a likely stake sale to Saudi Arabian Oil Co (Aramco). Billionaire brothers Shashi and Ravi   more..


Naveen urges Centre to set CNG stations in Odisha
February 11, 2016: Seeking Centre's cooperation in putting a check on rising pollution by vehicles, Odisha Chief government has written to Prime Minister Narendra Modi to set up CNG (compressed natural gas) stations in the state. "As vehicular emission contributes to air pollution significantly, the Odisha government   more..


Kerosene rates to rise 17 paise a litre
February 11, 2016: Kerosene prices will rise by 17 paisa after the government raised commission paid to wholesale dealers. Commission paid to wholesale dealers, who are given licence under Form XV, has been raised from Rs 536.09 per kilolitre (KL) to Rs 714.18 per kl, an increase of Rs 178.09 per kl or Rs 0.17 per litre. For   more..


Global Crude oil price of Indian Basket was US$ 31.06 per bbl on 9th February, 2016
February 11, 2016: 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$ 31.06 per barrel (bbl) on 9th February, 2016. In rupee terms, the price of Indian Basket increased to Rs 2116.83 per bbl on   more..


Mercator to sell its Singapore bulk cargo business for three Singapore dollars
February 11, 2016: Shipping and logistics company Mercator Ltd on Wednesday said it has sold its Singapore bulk cargo business to three investors for a token amount of three Singapore dollars. The dry bulk business is operated by Mercator Lines Singapore Ltd, which is a unit of Mercator International Pte Ltd, which in turn is   more..

Petropulse / Guest Column
Trillions Lost In A 10 Million Barrel Game
by Ravinder Kumar* Ravinder KumarUnsustainable Oil prices, stockpiles at all- time high, massive layoffs in oil and allied industries and a seventy per cent reduction in more...

IOG Exclusive
Essar refinery sale: much goes on behind the scenes
February 8, 2016: What exactly is afoot with Indian conglomerate Essar Group’s oil refinery? This seems to be a question that many are asking given recent news that the company has reportedly completed preliminary discussions with Saudi Aramco regarding the sale of its refinery business to the National Oil Company (NOC) more...

Increasing imports from Iran matter of timing
February 2, 2016: The easing of sanctions on Iran has seen some Indian firms rush to make use of the opportunity of accessing Iranian barrels that were hitherto off the market. Primary among the firms quickly wishing to step in are Mangalore Refineries and Petrochemicals Ltd (MRPL) and the private sector refinery Essar Oil at more...

Secret Of Reliance Industries’ Impressive Q-3 Performance
January 20, 2016: Reliance Industries Ltd (RIL), India’s largest private sector firm has turned in stellar third quarter results. It has seen its profits rise to INR 72.18 billion, based primarily on an extremely strong performance in its core refining business. This is reflected in the Gross Refining more...

Integrated approach towards cleaner fuels need of the hour
January 19, 2016: Some days ago, the Transport Minister Nitin Gadkari had announced that the Government had decided to bring forward the nationwide rollout of BS-VI vehicular emission norms; and skip the BS-V stage; a move seen in line with promises reportedly made by India at the Climate Change Conference in Paris in late more...

Anil Ambani-led Reliance Enters LNG Market For Bangladesh Power Project
January 5, 2016: The world is glutted with LNG. Price of LNG which touched $ 20/ mmbtu has crashed to a level below $ 7/mmbtu. On present reckoning, crude prices are unlikely to look up till the last quarter of 2016. This is the right time to enter the market to sign up long term contract for supply of LNG. Dr more...

High Cess On Crude Is A Bone Of Contention Between Govt & Industry
September 21, 2015: The Oil Industry Development Cess on crude oil moved to a refinery was levied at Rs. 60 per ton in July 1974 and subsequently revised from time to time. During 2005-06, when the crude oil prices had increased from an average of $ 40 per barrel to $ 60 per barrel, OID Cess was increased from Rs. 1800 to Rs. more...

Currently low oil prices offer opportunity to ONGC, OIL
September 16, 2015: The fall in crude oil prices from their highs of over USD 100 per barrel seems to be having varied impacts on different producers and consumers of the commodity. One would have expected crude oil producers such as PSU firms ONGC and Oil India Ltd (OIL) to have been hit and the Indian consumers to have more...

BPCL may become a Maharatna, but will it be merely symbolic?
September 15, 2015: Flagship Oil Marketing Company (OMC) Bharat Petroleum Corp (BPCL) has for long coveted the 'Maharatna' status, especially since its larger peer Indian Oil Corp (IOC) already boats this status. In addition, it is quite well known that both the OMCs BPCL and HPCL often try to outdo each other, even more...

ONGC’s FDP for KG Basin discoveries just the first step in a long journey
D.K. SarrafAugust 31, 2015: ONGC has submitted a preliminary Field Development Plan (FDP) for its KG Basin discoveries, in the block KG-DWN-98/2 or KG-D5. While this envisages commencement of oil and gas production by more...

ONGC Videsh continues to show interest in Mexico
August 28, 2015: Recent reports indicate that OVL, the overseas arm of flagship oil and has PSU ONGC, has been shortlisted to bid for five shallow water blocks in Mexico. These will be Production Sharing Contracts covering nine Gulf of Mexico fields; and other companies in the fray are reportedly Chevron, Shell, Statoil, more...

Special Reports
How To Boost Coal Bed Methane Production? Part-II
February 4, 2016: The workshop on CBM potential is keen that the government comes out with a Unified Exploration Policy for conventional, CBM, shale oil and gas, tight gas. Operators should be allowed to explore for shale and tight formation hydrocarbons in CBM blocks to achieve better synergies, economics and ease of more...

How To Ramp-up CBM Production? Part-I
February 3, 2016: Coal Bed Methane (CBM) is an important national energy resource with growing relevance and potential to reduce the country’s import dependence. Over the past two decades 33 CBM blocks have been awarded but the current production is only 1.1 mmscmd. Given a favourable Policy and support from regulatory more...

Too Small For A Joint Venture Of Three OMCs
January 22, 2016: What will be the capacity of the so-called giant refinery the three public sector oil marketing companies (OMCs) are planning to set up on the West Coast in the state of Maharashtra? Initially, the report was that it will have an annual capacity of 20 million tons. The latest is that it could more...

Marginal Fields auction seems to have put Government in a bind
January 14, 2016: The Government had some time ago, announced the auction of 69 marginal fields surrendered by PSU firms ONGC and Oil India Ltd (OIL). The auction of these fields, that have been discovered but not yet developed, was supposed to start in December 2015; and were claimed to have the potential to unlock almost more...

Government’s LPG move can be termed as ‘bold’
January 4, 2016: In an interesting move that could be termed as ‘bold’, the Government has decided to do away with the supply of subsidized LPG to households above an income threshold of INR 1 million per year. The move was ‘bold’ for it represents one of the relatively few occasions that an elected more...

Marginal Fields Auction likely to struggle
December 21, 2015: The Government recently released some details concerning the marginal fields it wishes to auction. Out of the 69 fields that the Government made PSU oil firms ONGC and Oil India Ltd (OIL) return, as many as 28 are in the Mumbai offshore while another 14 are in the Krishna-Godavari basin. 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...

Oil Slick Ahoy! The surge potential of oil prices is hard to assess, but we must prepare for a 10% increase over 2011 levels
The recent surge in crude oil prices is a whollyunpleasant development. Oil prices had increased by 30% in 2010 and by another 40% in 2011. It was a reasonable expectation that in 2012, notwithstanding the slow pace of growth in the developed world and some slowing in growth in the developing world too, oil prices would more...

Personalities
A.K. Sahoo MRPL’s Director Finance
A.K. SahooA.K. Sahoo has taken over as Director Finance of MRPL, an ONGC subsidiary. Sahoo has 25 years experience in various aspects of Finance and Finance Management, with 16 years specifically in Project implementation more...

Atulesh Jindal To Take Over As New CBDT Chairman
Atulesh Jindal is the new Chairman of the Central Board of Direct Taxes. He  succeeds A K Jain. Jindal, a 1978 batch IRS officer, has been working as Member (Income Tax) in the CBDT. He will have a tenure of six months till July. Apart from its Chairman, CBDT has six members and is the supreme body for framing policy 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]
Mega Refinery: When The Message Is Bold And Baffling
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RIL-BP: Twain In Hyphened Ties?
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No Price Collars In Renegotiated Qatar Gas Deal: A Source Of Concern?
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Open Up RasGas Deal For Scrutiny
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Foreign Investment
Nagarjuna Oil Refinery Looking For Foreign Investor
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Overseas Investment
India Keen To Invest In Sri Lanka
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Gas Scene
Updated CGD Fact Sheet
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Update: Gas Price in various International Hubs
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Update: Gas Production / Consumption and Imports
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Timelines of upcoming LNG Terminals
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Capacity utilization of LNG Terminals
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Capacity Utilisation of Indian Gas Pipelines
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Coal Bed Methane (CBM) Gas development in India
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Projected Demand, Availability of Natural Gas during FY 2017–22
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Expansion of Gas Pipelines
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Revised PNG (Piped Natural Gas) Status
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Revised CNG Sales Since FY 2011-12
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Gas-International Trade
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Gas Reserves’ Sustainability
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FLNG Projects Under Construction
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What is FLNG? How did it originate and who were the people behind its creation and progress?
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Major World Gas Importers & Exporters (% Share)
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CGD Sector Will Need Rs 300 Billion Investment To Meet Demand Projections
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Natural Gas Pipelines Under Construction as on 15th June 2015
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Operating Natural Gas Pipeline in India as on 15th June 2015
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Dealer’s Commission on Petrol & Diesel
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An Update: Fuel & Loss In Indian Refineries
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Impact of Increase in Retail Selling Price of Major Petroleum Products on Inflation
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Important Terms in Pricing of Petroleum Products
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Taxes and Duties on Petroleum Products vis-à-vis Payout by Government to PSU Oil Companies.
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Summarised Build-up of Retail Selling Price of PDS Kerosene
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Retail Prices of Petroleum Products In India & Neighboruing Countries
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Weightage of Petroleum Products in Wholesale Price Index (WPI)
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PSU Refineries: Specific Energy Consumption (MBN Number) In current Fiscal (April-September)
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Retail Selling Price & % of Taxes in Retail Selling Price in Developed Countries v/s India
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Update: Hydrocarbon Reserves in India
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Growth of installed capacity refinery-wise, year-wise
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Domestic Crude Processed, Quantum of Products, Share In Total Consumption
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Price Build-up of Subsidized Domestic LPG at Delhi
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Oil: Refinery Capacities Country-wise
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LPG Marketing at a Glance
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Updated Gross Refining Margins (GRM) of Refineries (April-Sept, 2015)
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High Sulphur (HS) & Low Sulphur (LS) Crude Oil Processing
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Profit after Tax (PAT) of Oil Companies
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Projected Refining Capacity in in FY 2016-17
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Status of Underground Coal Gasification (UCG) development in India
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Demand Projections of Petroleum Products 2017-22
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Tenders [FREE Access]
Cairn India Ltd
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