May 18, 2012: Dealers of sensitive petroleum products have been agitating for a hike in their commission. For a better appreciation of their demand, we have collected the details of the Dealers’/ Distributors’ commission on sensitive petroleum products since 2004. Click Special Database for details.
May 17, 2012: Unpleasant Facts About The Prevailing Prices Of Sensitive Petroleum Products, click column Special Database for details.
May 16, 2012: ONGC Refuses To Be A Party To Crude Offtake and Sales Agreement For Baola Field, click IOG Exclusive for details.
May 10, 2012: Like the authors of Watergate Scandal who were helped at every stage by an official source who was dubbed as Deep Throat, we too had our own Deep Throat while investigating the biggest petroleum scam - the LNG Scam, a scam that we have tentatively quantified at Rs 100 billion ( Rs 10,000 crore.) Unlike Woodward who knew Deep Throat long before he started investigating the Watergate break-in, our Mystery Man came to us straight out of the blue. His intention was to derail the investigation, but was useful in certain respects. He had his own moniker: Akshay Trivedi. The readers can identify the man. Click our Free Access column Petro Intelligence.
Today's News [FREE Access]
Bharat Petroleum Beating Refiners on Africa Exploration
May 19, 2012: Bharat Petroleum Corp. (BPCL) is the best- performing energy stock on the MSCI AC Asia Pacific Index this year and analysts say its foray into exploration in Africa to counter refining losses may mean there’s more growth to come. Bharat Petroleum’s 54 percent surge this year makes it the only refiner more..
ONGC to get into LNG marketing
May 19, 2012: It is exploring options for entering the city gas distribution business. Seeking to diversify its business portfolio and venture into new and challenging areas, Oil and Natural Gas Corporation (ONGC) has drawn up plans to enter the marketing and re-gasification of LNG and into the City Gas Distribution (CGD) more..
Cabinet clears signing of pact for buying gas from Turkmenistan
May 19, 2012: Transit fee issue with Afghanistan and Pakistan resolved. In what could prove to be a major corridor for energy sourcing in the future, the Union Cabinet, on Thursday, approved the signing of the agreement for buying gas from Turkmenistan through the $7.6 billion Turkmenistan-Aghanistan-Pakistan-India (TAPI) more..
Allocation of Gas for Power Projects
May 19, 2012: The Ministry of Power (MOP) has recommended for allocation of 1.31 mmscmd of KG D6 gas to Hazira CCGT (351 MW) and 2.62 mmscmd of KG D6 gas to Pipavav CCGT (702 MW). The Empowered Group of Ministers (EGOM) in its meeting held on 24.02.2012, inter-alia, noted the requirement of these projects. However, no more..
Production of Bio-Diesel May 19, 2012: Bio-diesel production plants with an aggregate capacity of 3470 tons per day have been set up in the country by private companies. State-wise break up of bio-diesel plants installed in the country is given below:-
more..
Import Duty on Power Equipments May 19, 2012: A Committee was set up under Member (Industry), Planning Commission (Maira Committee) “to suggest options and modalities to take care of the disadvantages suffered by the domestic industry related to power sector”. The Committee had made the following recommendations:
Immediate adoption of the proposed more..
NTPC plans nearly Rs 210 billion investment this fiscal
May 19, 2012: Country's largest power producer NTPC expects to almost double investments for expansion activities at Rs 210 billion in the current fiscal. The state-run company had spent about Rs 110 billion 2011-12. "Our investment plan for this fiscal (2012-13) is Rs 209 billion. Last fiscal, it was more..
Suzlon seeks more time for foreign bond repayment
May 19, 2012: Suzlon Energy is seeking up to 45 more days from bondholders to repay foreign currency bonds maturing in June while it works on raising as much as $300 million in loans, the wind turbine maker said on Friday. Suzlon, the world's fifth-largest wind manufacturer by cumulative installed capacity, needs to repay more..
Petropulse / Guest Column
ONGC’s Bombay High Can Produce Up To 45 Million Tons Annually Oil and Natural Gas Corporation’s (ONGC’s) Bombay High field has the potential to raise its annual production to 45 tons from the present level of 13 million tons. ONGC’s other fields in more...
IOG Exclusive
ONGC Refuses To Be A Party To Crude Offtake and Sales Agreement For Baola Field.
May 16, 2012: Interlink Petroleum Ltd offer to Oil and Natural Gas Corporation (ONGC) to be a party to Crude Offtake and Sales Agreement (COSA) for Baola Field has been turned down. COSA was proposed to be signed between ONGC, IOC and Interlink Petroleum Ltd (IPL) for crude produced from Baola field in Gujarat state. more...
Lubes Marketing Scenario As Planned by HPCL, Annual Plan 2012-13
May 9, 2012 India is currently the third largest market for lubes in the world after US and China with size of 1850,000 tons in 2010-11 apart from consumption of 350,000 tons of Transformer and White Oils. The market is expected to grow at the rate of 3 to 4% per annum in the next five years.
HPCL is the more...
RIL Asks For Refund Of Excess Royalty Paid For D1-D1 fields
May 4, 2012: Reliance Industries Ltd (RIL) has urged the government to refund $ 1,438,453 which it claims to have paid as excess royalty in respect of D1-D3 fields in D6 block of KG basin.
According to RIL, as per the Audited Accounts for the FY 2010-11 the total PWHC of D1-D3 fields (Gas) to be considered for more...
ONGC Likely To Seek Extension Of Date For Notification Of Award (NOA) From May 4 To May 11 For Pipeline Replacement Project (PRP) -3, Re-tender Not Ruled Out.
May 3, 2012: The twice-extended date for Notification Of Award (NOA) is to be extended again from May 4 to May 11. With the management not clearing the tender committee’s proposal to open price bids of the remaining five bidders, NOA cannot be placed on May 4. This is because the recommendation regarding the ranking of more...
Bharat Petroleum Finalises Term Contract For Crude Supplies With Saudi And Kuwait
April 30, 2012: A high level team from Bharat Petroleum Corporation (BPCL) led by chairman R.K. Singh has been negotiating with Saudi Aramco and Kuwait Petroleum for supply of crude for FY 2012-13. The details regarding quality and quantity are expected to be announced in a day or two.
There may not be any significant difference more...
ONGC Extends NOA Date To May 4, L&T, Essar Out Of The Race For PRP Project.
April 27, 2012: With ONGC board approving the budget for Pipeline Replacement Project-3 on April 25, the tender committee has sought extension of Notification Of Award (NOA) date from earlier extended April 27 to May 4. The bidders are expected to confirm their acceptance today.
The approved budget is understood to be in the more...
ONGC Blacklists Essar Oilfield Services India Ltd and Essar Group Companies For Two Years, Office Order Issued.
April 23, 2012 : Oil and Natural Gas Corporation (ONGC) has banned business dealings with Essar Oilfield Services India Ltd for not honouring a firm order placed with it for charter hire of its rig, Essar Wild Cat.
The ban will be applicable to all Essar more...
NRI Seeks Permission From FIPB To Invest In Selan Exploration.
April 17, 2012 : Selan Exploration Technology Ltd. is engaged in the business of onshore oil and gas production. The company has existing NRI/foreign equity participation of 36.963% under the automatic route.
The company had issued 7,00,000 warrants, convertible into equity shares, to Aroon Mahajan an NRI more...
Special Reports
Downstream oil companies face legal and regulatory challenges
April 19, 2012: With the crude availability uncertain and prices volatile, doing business in hydrocarbons has always been risky. In addition, Indian firms are having to increasingly contend with regulatory and legal risks. In the last three months alone, the petroleum regulator and the Supreme Court have delivered severe more...
Proposals Relating To Oil & Gas Sector In Union Budget For 2012-13 : An Analysis March 16, 2012: The Budget, as presented by Finance Minister, Pranab Mukherjee in Parliament today, did not have much for the oil and gas sector. Perhaps the only major highlight was the more...
Significant Changes In Composition of Petroleum Products Imports
March 16, 2012: An assessment by Ministry of Petroleum and Natural Gas of the changing patterns of import and export of petroleum products reveals significant changes in the fortunes of several products.
In FY 2000-01, Naphtha (34%) and Furnace oil (21%) constituted 55% of total petroleum product import. By more...
The Cost & Benefit Of ONGC Preparing Reports On Shale Gas Areas In India’s Sedimentary Basins
February 21, 2012 : Ministry of Petroleum & Natural Gas has initiated action to frame strategies for exploration and exploitation of Shale Gas in Indian Basins. The main objective of the present project will be to analyze available geoscientific data of most of the Indian onland sedimentary basins to identify prospective more...
Issues in Financing Oil & Gas Pipelines During XII Five Year Plan February 20, 2012 : India's planners are still debating how to finance oil and gas pipelines during the XII Five Year Plan (2012-17). The issues relating to financing of the pipelines have been summarized and presented by an official committee. We have obtained a copy of the presentation.
Definition of Infrastructure - more...
DGH’s Letter Blasts Reliance Industries For Its Failure To Honour Commitments On Development Of KG D6
February 14, 2012 : We write with reference to the Production Sharing Contract (“PSC”) dated April 12, 2000 between Ministry of Petroleum and Natural Gas (“Government”), Reliance Industries Limited (being the operator) and Niko Resources Limited (collectively “Contractor”), in relation to more...
Interviews
Interview with Rajeev Sharma, M.D, Adani Energy
Rajeev Sharma knows gas business better than many in the petroleum sector. As founder MD of the highly successful Indraprastha Gas Ltd (IGL), he demonstrated his dynamism and business acumen. He left GAIL (India) to join the rapidly expanding Adani Group to head its energy company, Adani Energy which again is a great success more...
Views
The Diesel Subsidy Hole
March 17, 2012: 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 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 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...
Food Ministry Seeks Delay in Ethanol Blending Plan
Fears large-scale diversion of grain for manufacture of ethanol by the alcohol industry
Worried over the possibility of large-scale diversion of foodgrain for manufacture of ethanol by the alcohol industry, an apprehensive food ministry is set to oppose, or at least delay, the mandatory 5% more...
Personalities
S.K. Srivastava Sunil Kumar Srivastava has taken charge as Chairman and Managing Director (CMD) of Oil India Ltd (OIL), where he has spent three decades of his over 35 years in the upstream sector.
more...
Sanjiv Singh
Sanjiv Singh has taken over as Executive Director of Panipat Refinery and Petrochemical Complex today.
The Refinery and Petrochemical Complex located at Panipat comprises of 15 MMTPA Refinery, an Aromatic Complex producing Para-Xylene and PTA, Naphtha Cracker and associated downstream MEG and 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.
Oil and Natural Gas Corporation’s (ONGC’s) Bombay High field has the potential to raise its annual production to 45 tons from the present level of 13 million tons. ONGC’s other fields in 
March 16, 2012: The Budget, as presented by Finance Minister, Pranab Mukherjee in Parliament today, did not have much for the oil and gas sector. Perhaps the only major highlight was the 
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 
Sunil Kumar Srivastava has taken charge as Chairman and Managing Director (CMD) of Oil India Ltd (OIL), where he has spent three decades of his over 35 years in the upstream sector.