November 29, 2023: With domestic crude production refusing to rise and consumption of products steadily going up, the share of domestic crude in total products consumed has touched a new low during April-October 2023. India’s FY begins on April 1. Click column Special Database for details.

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November 28, 2023: There appears to be something wrong with the targets fixed by the authorities for the production of natural gas. None of the parties involved could meet the target for the month though all of them except for ONGC produced more than the level in October 2022. Click column Gas Scene for details. 

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November 27, 2023: Single agency needed to acquire overseas energy assets. A growing economy needs energy – lots of it. India is growing in almost every area except domestic oil production. At present, domestic oil production meets only 12 per cent of demand. For a country of India’ size and speed of growth, the most sensible option is to acquire oil and gas assets overseas. ONGC Videsh started the process of acquiring oil and gas assets overseas more than three decades ago. It acquired assets in 32 oil and gas projects spread across 16 countries with a combined annual production of 19.5 MMTOE. Later, Oil India, IOC, BPCL and GAIL started acquiring assets overseas, but the acquisition scene today presents a picture of colossal inefficiency and complete lack of imagination. Click Free Access column Petro Intelligence to read an exciting piece.

Column Policy has five subjects. First, it examines the question of output cuts by OPEC+ which in its rescheduled meet on November 30 is expected to consider further changes to a deal that already limits supply into 2024. The rise of Russian crudes to top position in Indian market is expected to influence India’s import strategy. Will India try to limit its supply sources and focus more on large quantities and competent price? Questions are being raised about the efficacy of the Ethanol blending scheme, whether ethanol is green and whether ethanol production is environmentally friendly. India’s Oil & Gas Companies are Preparing For a major foray Into Petrochemicals. The single biggest investment plan in petrochemicals. has emanated from the upstream major Oil and Natural Gas Corporation (ONGC). India’s Surging GDP Pushes Up Petroleum Products Consumption.

Column Regulation has four subjects. There are exclusive reports In almost all columns.