Hike in retail prices of petroleum products has always been a politically sensitive issue. Now that inflation is in the negative territory, the government was not very much alarmed about its impact on wholesale price index. However, the government had undertaken an exercise on its likely impact on wholesale prices under different scenarios. The quantum of price hike announced in July 1 was not exactly what was anticipated. Click Special Reports to see details of this official exercise.
Rising Crude Prices, Firming Steel Prices: Delay In Opening Revised Price Bids Frustrates MHN Process Platform Bidders. Click IOG Exclusive for details.
Hydrocarbon reserves accretion is the single biggest yardstick to judge the performance of an upstream company. Such reserves accretion need not immediately get reflected in the rate of production. ONGC has a Reserve Estimate Committee which has certified reserve accretion during FY 2008-2009. Click Special Database for details.
GAIL (India) has been in a hurry. It has many expansion and diversification plans .Though many of its plans for overseas projects are yet to materialize, it has been quite active in the domestic market. Being the owner of the largest gas pipeline network, it is now keen to enter manufacture of line pipes with coating facilities. Consultants hail the idea after studying the feasibility. Click IOG Exclusive for details.
Today's News [FREE Access]
Economic Survey unveils bold, ambitious agenda July 3, 2009: Painting a picture of a resilient economy, the pre-Budget Economic Survey 2008-09, tabled in Parliament by Finance Minister Pranab Mukherjee, said India could grow up to 7.75 per cent in more..
Decontrol fuel prices: Economic Survey
July 3, 2009: It is high time that petrol and diesel prices were decontrolled taking advantage of low inflation and global crude prices, the Economic Survey said, while criticising the government for its "imperfect" handling of oil price hike. The Survey made suggestions for sweeping reforms in the energy sector, more..
Uproar in LS over fuel price hike; no roll back, says government
July 3, 2009: The Budget Session of Lok Sabha started on a stormy note with non-Congress parties, including UPA allies DMK and Trinamool Congress, slamming the hike in petrol and diesel prices and demanding a roll back, which was rejected by the government. The issue was raised in the House as soon as it met, with Samajwadi more..
RIL will have to pay royalty on KG basin gas: Government
July 3, 2009: The government today said Reliance Industries will have to pay royalty on natural gas it is producing from KG basin fields as per the Production Sharing Contract (PSC) signed with it. Minister of State for Petroleum and Natural Gas Jitin Prasada in a written reply to a question in Lok Sabha cited PSC as the more..
PSU oil refiners to invest Rs 662.50 billion in next two years July 3, 2009: State-run oil refiners will invest about Rs 662,50 billion over the next two years on capacity expansion and projects to upgrade the quality of petrol and diesel produced at the existing plants. more..
RIL to close Jamnagar refinery for 2-3 weeks
July 3, 2009: Reliance Industries will partially shut down its old Jamnagar refinery (J-1) for 2-3 weeks to carry out maintenance work. RIL will shut a 325,000 barrels per day crude distillation unit (CDU) at J-1 from July 3, a company statement said. The company had planned maintenance shutdown at the 660,000 barrels per day more..
Govt should not question demerger now: RNRL
July 3, 2009: The RIL demerger, which resulted in Reliance Natural Gas (RNRL) being spun off into a separate company, was approved by the Bombay High Court and the ministry of corporate affairs and should not be questioned now by the government, a senior RNRL official told a newly launched TV channel. While the government has more..
ONGC sees lower fuel subsidy burden
July 3, 2009: India's state-run Oil and Natural Gas Corp's fuel subsidy burden for the current year will be significantly lower than the previous year, if the crude prices stay around the current level, Chairman and Managing Director R S Sharma said on CNBC-TV18. "If the prices remain around $70 a barrel, surely more..
PetroPulse Column
A Burden Too Heavy To Bear R.S. Sharma, chairman of Oil and Natural Gas Corporation (ONGC), is a man who usually steers clear of controversy. He isn’t known to use harsh words and he almost never holds out threats. So, when Sharma more...
IOG Exclusive
MHN Platform Complex Bidders Frustrated over Delay In Opening Revised Price Bids Rising Crude Prices, Firming Steel Prices : Delay In Opening Revised Price Bids Frustrates MHN Process Platform Bidders.
It was an aggressive revised price bidding. The ONGC more...
GAIL May Enter Manufacture Of Line Pipes: Consultants M.N. Dastur, CRISIL Consider Project Feasible. GAIL (India) has been in a hurry. It has many expansion and diversification plans. Though many of its plans for overseas projects are yet to materialize, it has been quite active in the domestic market. Being more...
ONGC Against Five – Year Contract For Aban’s EPS Tahara; Aban Hikes Day-rate Offer To $ 60,000
The meeting between Aban Offshore’s MD, Regi Abraham, and ONGC’s directors in Delhi on July 23 could not break the stalemate over the renewal of contract for Aban’s Early Production System (EPS), Tahara. They agreed to differ for the time being, but the situation is that both need each other and an agreement more...
Petroleum Ministry Criticises ONGC's Drilling Performance, ONGC Reacts.
Petroleum ministry's criticism: with a large fleet of 109 drilling rigs available with ONGC, a total of 408 wells could be drilled, having a target depth of 3500 metres each and a cycle speed of 1093 metres/month, in a year. However, it is observed that target has set for drilling 162 exploratory wells and 232 development more...
Special Reports
Mukesh Ambani’s Reliance Industries Slips In Strategic Decision Making The key to the success of Reliance Industries has been its long term planning; its superior skills in project implementation; its selection of the most up-to-date technology; its unmatched track record more...
Foreign players enter the Bitumen market in India.
India's massive and unprecedented road construction and improvement programmes involving large investments has lured several foreign players to enter India's bitumen market . Among those who have been attracted by the size and importance of the market are Shell, Total and Colas .
more...
Full Report Of The Chaturvedi Committee On Oil Industry The report of the high powered committee headed by B.K. Chaturvedi is considered important in many respects. But it was put into cold storage following the collapse in oil prices which invalidated its more...
India Prepares For Larger Import Of LNG To Meet Growing Demand Even As Domestic Production Goes Up.
India's demand for gas is growing at a faster rate than anticipated earlier. Despite the step up in domestic gas production, the country will need more imported LNG to meet the demand. Existing LNG terminals are expanding their capacities. India will have two more LNG terminals in the near future and yet another one is 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
Gas pricing conundrum : Wanted A Proper Market For Gas
THE Bombay High Court ruling on natural gas supply from the Krishna-Godavari basin appears to have upheld contractual obligations on the part of Reliance Industries Ltd (RIL) to Reliance Natural Resources Ltd (RNRL), now de-merged corporate entities. The court order calls on RIL to supply 28 mmscmd of gas at $2.34 per mmBtu more...
Suggestions for 100-day agenda for government for the Oil & Gas Sector
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more...
Expect continuity, not radical reform
The stock market has zoomed 20% hoping that the Congress victory will usher in radical economic reforms that were earlier thwarted by the Left Front. This is a serious error. The Congress sees its victory as a vote for continuity, not radical change. Having won despite a global recession, its policy will surely be more of the more...
Personalities
Great Offshore appoints Soli Engineer as COO Great Offshore, India’s prominent integrated offshore oilfield services provider offering a broad spectrum of services to upstream oil and gas producers to carry out more...
S. Sundareshan Presently, additional secretary in the ministry of petroleum and natural gas. He has a fair chance of becoming secretary in the ministry of Petroleum and Natural gas if R.S Pandey is shifted to another more...
R.S. Pandey Intense rumours in the corridors of power that R.S. Pandey, secretary, petroleum and natural gas, is being shifted to ministry of Defence. Normally, such shifting to a highly sensitive ministry does not happen when the incumbent 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.
Launch of Eighth round of New Exploration Licensing Policy (NELP-VIII) and Fourth round of Coal Be Methane Policy more...
Present status of gas supply, actual requirement, shortfall in the case of fertiliser sector, plant-wise and the proposed gas distribution to various power plants more...
IOC’s Sales and Refinery Throughput budget estimates for 2009-10 more...
Industry / Plant-Wise Off-takes of Naphtha In 2007-08 more...
The month-wise average price of crude (Indian Basket) imported by India in 2008-09 more...
Financial conditions of the state-owned oil marketing companies: the profits they made in the last three years and their debt-equity ratio more...
Current Rates of Sales Tax/VAT on petrol and diesel in various states/Union Territories. more...
Refineries – Existing, Additions and HS Crude Processing Facilities more...
All About New Exploration Licensing Policy (NELP) more...
Position of Hydrocarbon Reserves in the country as on 1st of April 2008 more...
July 3, 2009: Painting a picture of a resilient economy, the pre-Budget Economic Survey 2008-09, tabled in Parliament by Finance Minister Pranab Mukherjee, said India could grow up to 7.75 per cent in 
July 3, 2009: State-run oil refiners will invest about Rs 662,50 billion over the next two years on capacity expansion and projects to upgrade the quality of petrol and diesel produced at the existing plants. 
R.S. Sharma, chairman of Oil and Natural Gas Corporation (ONGC), is a man who usually steers clear of controversy. He isn’t known to use harsh words and he almost never holds out threats. So, when Sharma 
Rising Crude Prices, Firming Steel Prices : Delay In Opening Revised Price Bids Frustrates MHN Process Platform Bidders.
It was an aggressive revised price bidding. The ONGC 
GAIL (India) has been in a hurry. It has many expansion and diversification plans. Though many of its plans for overseas projects are yet to materialize, it has been quite active in the domestic market. Being 
The key to the success of Reliance Industries has been its long term planning; its superior skills in project implementation; its selection of the most up-to-date technology; its unmatched track record 
The report of the high powered committee headed by B.K. Chaturvedi is considered important in many respects. But it was put into cold storage following the collapse in oil prices which invalidated its 
Great Offshore, India’s prominent integrated offshore oilfield services provider offering a broad spectrum of services to upstream oil and gas producers to carry out 
Presently, additional secretary in the ministry of petroleum and natural gas. He has a fair chance of becoming secretary in the ministry of Petroleum and Natural gas if R.S Pandey is shifted to another 
Intense rumours in the corridors of power that R.S. Pandey, secretary, petroleum and natural gas, is being shifted to ministry of Defence. Normally, such shifting to a highly sensitive ministry does not happen when the incumbent