Policy
Crude Oil Prices Range- Bound Now, Surge Depends On Venezuela
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VAT On Petroleum, Extraordinary PSU Dividend A Way Out
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Rising Crude Oil Price Not To Affect LPG Subsidy Scheme
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Oil Marketing Companies’ Upstream Business Fails To Take Off
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Mergers And Acquisitions In Petroleum Sector Move Slowly
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Regulation
OVL Will Need $115-135 Billion For Priority Plays Overseas
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Denied A Role In LNG Business, HPCL Seeks To Be King In LPG
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TAPI Gas Pipeline Project Shows Sign Of Life
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Declining Consumption Of Kerosene And Naphtha
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Alternative Energy / Fuel
After Jatropha Plant, IIP Turns To Used Cooking Oil
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New Projects
HPCL To Finalise 10 Licensors For Rs 431-Bn Rajasthan Refinery
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Vedanta Limited Awarded 41 Exploration Blocks In India
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IOCL To Expand East India’s First LPG Pipeline
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Market Watch
HPCL To Target Overseas Markets For Lubricants
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India To Have 10,000 CNG Stations By 2030
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Companies
Wavefront Technology Solutions Inc
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PJ Valves Selected For North American LNG Project
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Cairn Oil And Gas Plans To Invest $2.5 Billion To Boost Output
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CCI Slaps Record Fine On South Asia LPG
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Press Release [FREE Access]
Latest Exclusives

September 21, 2018: Pricing of petroleum products in India is different from that in  other countries mainly because of the under-recovery and subsidy factors. There are certain important terms in pricing of petroleum products which are helpful in understanding the pricing mechanism. Click column Special Database for details.


September 20, 2018: India is now Asia's largest exporter of petroleum products. The surplus story begins from fiscal 2001-02 . Surplus rose consistently from 3.9 million metric tonnes and touched an all-time high of 62 million metric tonnes in 2013-14 and dipped to 49.5 million metric tonnes in 2017-18. Click columns Special Database for details.


September 19, 2018: In view of the stagnating domestic crude oil production, the management of Oil India Ltd (OIL) took a deliberate decision to acquire oil and gas assets overseas. It has halted overseas acquisition for the time being. Its global footprints include stakes in some major projects. Click column Special Database for details of these overseas assets.


September 10, 2018: Indian Oil Corporation (IOC) is a corporate giant: the country’s largest crude refiner and marketing company with retail outlets in every nook and corner. With its LNG regasification terminal at Ennore in the south Indian state of Tamil Nadu which is being commissioned, IOC was planning a major foray into the gas sector. IOC could scare away Shell and Gaz de France from the proposed floating LNG terminal at Andhra coast. It tantalized GSPC and Adani with offers to pick up equity stakes in their Mundra and Dhamra LNG terminals. Both the proposals now remain stalemated. Will IOC invest in any project to be a junior partner? Can junior partners survive in any Joint Venture dominated by IOC? Click Free Access column Petro Intelligence to read a comprehensive piece on the subject.

Today's News [FREE Access]
Vedanta Resources to ink deals for 41 oil and gas blocks on October 1
September 22, 2018: Ending the confusion over signing deals under the Open Acreage Licensing (OALP-I), London Stock Exchange-listed Anil Agarwal-led Vedanta Resources has received shareholder and board approvals for signing contracts for 41 oil and gas blocks on October 1. The company had to approach the shareholders because   more..


New policy for petroleum, chemicals and petrochem industrial region to be investor-friendly
September 22, 2018: P Raghavendra Rao, Secretary of the Union Chemicals and Petrochemicals Department, said the amended policy for Petroleum, Chemicals and Petrochemicals Industrial Region (PCPIR) would be investor-friendly. The amendments are under consultation. According to him, the existing policy prepared in 2007 has grey   more..


India prepares launch of gas hub
September 22, 2018: The establishment of a hub is an attempt to meet operators' demands for the adoption of a market-based gas-pricing regime. But India faces challenges in making the dream a reality, amid concerns over third-party access and competition. The gas-hub plan ties in with prime minister Narendra Modi's   more..


Maharashtra plans to make petrol cheaper, alcohol more expensive
September 22, 2018: The Maharashtra government may increase excise duty on Indian-made foreign liquor (IMFL) to compensate for a possible cut in tax on petrol and diesel. There has been no increase in duty on the Indian-made foreign liquor since 2013. The government may impose more tax on the IMFL if fuel prices keep on   more..


No more discounts on card payment charges at petrol pumps
September 22, 2018: Oil marketing companies (OMCs) are looking to wind down discounts on fuel purchased via electronic means, three people aware of the plans said, more than a month after they trimmed such discounts for fleet customers using loyalty programmes. The government had asked OMCs to give a 0.75% discount on card   more..


Reliance shuts offshore oil-producing field in Krishna-Godavari basin
September 22, 2018: India’s Reliance Industries Ltd has shut down an offshore oil and gas field on the eastern coast of India, the company said in a statement on Friday, after seeing a natural decline in output for months. The closure marks the beginning of the end of the company’s first foray into oil and gas   more..


India: Will Ennore LNG Terminal Go The Same Way As Kochi Terminal?
September 22, 2018: Indian Oil Corporation (IOC) has announced that the LNG (liquefied natural gas) import terminal project in Ennore near Chennai in Tamil Nadu with the investment of over Rs.60 billion would be commissioned by end 2018. This project has already been much delayed and as per original schedule, it should have   more..


Rs 170 billion Gujarat State Petroleum Corporation loss makes PSUs lose Rs 147 billion
September 22, 2018: Loss of Gujarat State Petroleum Corporation Ltd (GSPC), which was once projected as a major success, has turned State Public Sector Units (SPSU) net loss-makers during the fiscal 2016-17, said a report of Comptroller and Auditor General (CAG) of India. Net loss of all SPSUs stood at Rs 147.6443 billion in   more..

Petropulse / Guest Column
A New Approach towards Energy Strategy
by Maj. Gen. S.Maj. Gen. S.C.N. Jatar (Retd.)C.N. Jatar, (Retd)*| August 17, 2018: I wrote about the need for a change of course in energy planning at the national level early this year. Although there more...

IOG Exclusive
Glut In US Crude Pushes Down Price : Indian Wrestling With Options.
May 28, 2018: 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 more...

IOC steps into Oman with acquisition
April 9, 2018: 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
February 28, 2018: 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 more...

Visit of Iranian President opens a sliver of hope for Farzad-B deal?
February 16, 2018: 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 more...

Indian PSUs to Aggressively Pursue EOR/IOR Projects
January 31, 2018: 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 more...

Iran Announces Deals With Countries, No mention Of India
January 29, 2018: 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 more...

ONGC’s Search For Producing Assets
January 17, 2018: 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 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
Bina Refinery In Madhya Pradesh In News Again
August 7, 2018: 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 more...

Points to Ponder: Open letter to Honorable Chief Minister of Gujarat, Shri Vijay Rupani
June 22, 2018: The Baroda-based, Centre For Fuel Studies & Research (CFSR), finds that the 5000 MW Solar PV project announced by the government of Gujarat has certain basic flaws. It has, in a comprehensive letter, urged the state Chief Minister to review the project.   more...

Vedanta’s Various Projects Under Implementation in the Rajasthan Field
May 21, 2018: Anil Agarwal-led Vedanta through its E&P wing, Cairn India, is the operator of India's largest onshore field in the Barmer district of Rajasthan. Vedanta has undertaken further development of the field. more...

Replacing Fossil Fuel in Transport Sector – A huge challenge
May 18, 2018: The Vadodara-based, Centre for Fuel Studies and Research (CFSR), periodically brings out useful reports on various aspects of India's energy scene. Its latest report is on Replacing Fossil Fuel in Transport Sector-A Huge Challenge. Click HERE for details. more...

Status of Ethanol Blending with Petrol Program.
May 14, 2018:  Ethanol Blended Petrol Programme: The Government through Oil Marketing Companies (OMCs), is implementing Ethanol Blended Petrol (EBP) Programme under which, OMCs sell ethanol blended petrol with percentage of ethanol up to 10%. In order to augment the supply of ethanol, the Government in more...

Status of Equity Oil and Gas Overseas
May 10, 2018: In order to supplement domestic availability of crude oil & natural gas, the Government has been encouraging acquisition of assets abroad. Our oil and gas companies are present in 27 countries with investments of nearly US$ 33 billion. ONGC Videsh Limited (OVL), which is wholly owned 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
Dr. Alka Mittal Selected As Director (HR) ONGC
Dr. Alka MittalThe Public Enterprises Selection Board has recommended the name of Dr. Alka Mittal for the post of Director (Human Resources), Oil & Natural Gas Corporation Limited. Dr Alka Mittal – presently more...

N. Vijayagopal Selected As Director(Finance) BPCL
N. VijayagopalThe Public Enterprises Selection Board has recommended N Vijayagopal for the post of Director (Finance), Bharat Petroleum Corporation Ltd. He is presently serving as Executive Director, Bharat Petroleum 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]
LNG Terminals: A Minefield Of Risks
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IOC Mulls Options To Break Logjam Over Iran Stake In Chennai Refinery
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Why A Long-Term LNG Supply Deal With US Makes Sense
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The Changing Dynamics Wrought By US LNG
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Foreign Investment
Shell To Buy Out Total In Hazira LNG & Port
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Shell To Invest In 1,200 Retail Stations
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Overseas Investment
Bidding For New Oil And Gas Fields In Myanmar To Commence Next Year
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Gas Scene
Updatew: Existing Gas Pipeline Network, Gas Pipelines Under Execution
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India’s sectoral consumption of natural gas in July 2018 and net availability
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Domestic Natural Gas Scene : July 2018
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Gas pipeline network update
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An Update : Capacity Utilization of LNG Regasification Terminals
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Domestic Gas Prices & International Gas Prices
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Roadmap to setting up a functional Gas Marketing Hub in India
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Domestic Gas Scene In totality In Last 3 Years
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Month-Wise, Sector-Wise Consumption of Domestic Gas, R-LNG 2017-18
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LNG imports have consistently increased over the years
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15% Share of Gas in Primary Energy Mix – What it Translates to
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Salient Features of LPG Profile In Fiscal 2017-18
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Approved LNG Export Facilities
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Update: CGD Factsheet as of April 2018
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Data Section
Monthly Upstream Data
Monthly Downstream Data
Historical database
Data Archives
Special Database
Important terms in pricing of petroleum products
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Story of India’s Petroleum Products Surplus
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OIL’s International Footprints
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IOC: Blocks’s Location, Reserves & Production and Recent Acquisitions
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Oil India Litd.’s assets and reserve base
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Share of taxes in RSP of Diesel (Delhi) as on 1st June 2018
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Share of taxes in RSP of petrol (Delhi) as on 1st June 2018
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IOC’s Present Petrochemical Projects and Capacities
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Weightage of Crude Oil, Natural Gas and Petroleum Products in Wholesale Price Index (WPI)
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IOC: Major Ongoing Projects and its Capex Plan for fiscal 2018-19
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Oil demand & supply
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ONGC’s Acquisition Of Oil & Gas Assets In Last 5 Years
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Break-up of Petroleum Products Consumption Data (PSU and Private)
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Power Deficit Situation Region-Wise In July 2018
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India’s Petroleum Products Import Declines In July 2018
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India’s Crude Import Registers Impressive Growth in July, OPEC Share Declines
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Update: Gross Refining Margins (GRM) of refineries ($/bbl)
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Specific energy consumption (MBN number) of PSU refineries update
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ONGC’s Investments largely financed from internal accruals
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Petroleum Products Import Goes Up In June 2018
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Crude Oil Imports Dip In June 2018, OPEC Share further Declines
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Imported Crude & Domestic Crude Oil Processing
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High Sulphur (HS) & Low Sulphur (LS) crude oil processing
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ONGC’s Oil and Gas Discoveries In Fiscal 2017-18
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For Better Appreciation of Pricing Of Imported Crude
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Customs, Excise Duties, GST Rates On Petroleum Products
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Update: Profit After Tax (PAT) of oil companies
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Status of blocks under NELP (as on 1st April, 2018)
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Tenders [FREE Access]
ONGC
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Vedanta
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Vedanta
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