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]
Mamata plans grand schemes on a shaky track July 4, 2009 : Railway Minister Mamata Banerjee left freight rates and passenger fares untouched, announced steps to improve passenger amenities and upgrade rail more..
RNRL moves Supreme Court against RIL
July 4, 2009 : Two days after Reliance Industries said it would move the Supreme Court against the Bombay High Court’s order on gas supply, Anil Ambani-controlled Reliance Natural Resources Ltd (RNRL) has filed a special leave petition (SLP) in the Supreme Court, seeking directions from the apex court to RIL to execute a more..
RIL files caveat in SC against ex parte judgment
July 4, 2009 : Mukesh Ambani-run Reliance Industries filed a caveat in the Supreme Court to ensure it is given a chance to explain itself in a case relating to natural gas supply to Anil Ambani group firm RNRL. RNRL earlier moved the apex court seeking modification of the Bombay High Court ruling that suggested firming up gas more..
ONGC jumps on fuel price hike
July 4, 2009 : The ONGC scrip rose 7 per cent to close at Rs 1,126.45 on fuel price hike. The government raised the price of petrol by Rs 4 a litre and diesel by Rs 2 after market hours on July 1. Following the hike, experts believe that the ONGC’s subsidy burden for the current year would reduce if the crude prices stay at around $70 a more..
Nuclear power a $40 billion opportunity
July 4, 2009 : The Indian nuclear power market is estimated to touch $40 billion by 2020, according to a study by an online research portal. This mainly includes opportunities for power equipment manufacturers, uranium suppliers and forging companies in and outside India. To gain a larger share in the pie, companies from Russia, France and more..
Oil makes modest gains, still below $70
July 4, 2009 : Oil prices recovered modestly but remained below $70 in Asian trade today after overnight losses on US energy demand concerns, analysts said. New York’s main contract, light sweet crude for August delivery was 14 cents firmer at $69.45. Brent North Sea crude for August delivery rose 10 cents to $68.89 a more..
Rupee slips to 48.12 against dollar
July 4, 2009 : The Indian rupee lost 18 paise against the dollar in early trade on strong demand for the greenback from importers amid the US currency rising against other currencies. At the Interbank Foreign Exchange (forex) market, the domestic currency was quoted at 48.12 a dollar in early trade, a loss of 18 paise over the 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 4, 2009 : Railway Minister Mamata Banerjee left freight rates and passenger fares untouched, announced steps to improve passenger amenities and upgrade rail 
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