PetroMag Issue Highlights Crude Prices Projects

PetroMag
Issue 176 Monday 03 August 2015
If you can't explain it simply, you don't understand it well enough
NEWS
PRICES
STOCK PRICES
DATA
PRODUCTION
DATA
UPDATES
PetroMag
National News
Exploration News
International News
Crude Oil
International Prices
National Prices
Retail Selling Prices
Bitumen Prices
Crude oil Stock
Daily Share Price
MCX Bhav copy
Import & Export Port wise Data
Industry Sales
Pipeline Transfers
Natural Gas Import, Sale And Production
Region-wise Sales Growth
Sector-wise HSD Direct Sales
FO/LSHS & Naphtha Upliftments
Import / Export
Tankers Position - Petroleum
Tankers Position - LPG
Excise Duty on Petroleum Products
Crude Oil production
Natural Gas Production
Refinery Production
Projects Update
Tenders
Events
Contact Us
Petroleum Bazaar.com
Ministry of Petroleum and

Natural Gas,
New Delhi
NATIONAL NEWS
Sanctions off, Iran oil ties get priority
We can process 170 types of crude oil today
Why Iran nuclear deal may lead to windfall gains for India
PM favours export of surplus sugar, ethanol blending
Private oil players stress on marketing
Addl. Secretary & Fin. Advisor

Mr. S C Khuntia
HPCL trucks to use bio diesel
Indian Oil, Hindustan Petroleum, Bharat Petroleum may soon let anyone open petrol pump
Special Secretary & FA

Shri S.C.Khuntia
Bunk owners sell subsidised diesel on the black market
37% rural homes in Tamil Nadu use LPG, highest in country
Certain issues on GST that must be resolved
Modi reviews issues relted to sugar sector at high-level meeting
Pradhan meets Samsung officials igniting expectations that LNG transport ships
Fall in LPG cylinder prices come as relief for buyers
Minister of State
Shri Dharmendra Pradhan
Secretary
Shri Kapil Dev Tripathi
Jt. Secretary ( R )
Shri Sandeep Pondrik
Jt. Secretary (International corp.)
Shri Ashutosh Jindal
Piped natural gas connection launched in SN Puram
Jt. Secretary (Expl.)

Shri U.P.Singh
73% of rural Bihar use kerosene for lighting
Coimbatoreans get to breathe some clean air
Jt. Secretary (M)

Dr. Neeraj Mittal
Ved Prakash Mahawar takes over as Director (Onshore), ONGC
Sudhir Sharma takes over as Director (Exploration), ONGC Videsh
Economic Advisor
Dr. Archana S Mathur
Prabhat Kumar Singh has been appointed the new Managing Director and CEO of Petronet LNG Ltd.
Cylinder thief held at Mumbai's Charkop
Director (Marketing)
Smt. Sushma Rath
Cops impound 150 Ola cabs after HC ban on diesel taxis
Dir (Supply& Pricing) Addl. Charge

Shri Alok Tripathi
Director
(Exploration III)
Shri Prashant Lokhande
EXPLORATION NEWS
Director (CA)
(International coop.)
Smt. Anuradha S Chagti
****************
NE Future, Oil & Natural Gas
Exxon and Chevron may soon see European sights
Algeria boosts oil output by 32,000 bpd with two new fields
Directorate General of
Hydrocarbons
Adriatic oil, gas exploration raises concerns for Croatia tourism
Rosnefts $1 Billion Siberia Partner Backed by Chinese Investors
Director General
Shri B N Talukdar
Brazil: ANP launches 13th bidding round for oil and natural gas blocks
ENOC secures support for Dragon Oil takeover with improved offer
****************
Survey finds oil, gas in Maldives
Petroleum Conservation
Research Association
Sudan to Export 150 Thousand of Guar to United States of America
Chairman Executive Committee

Shri Kapil Dev Tripathi
Member Secretary Exec. Director
PCRA
Shri L N Gupta
****************
INTERNATIONAL NEWS
Shayne Heffernan Oil Price Report
Russia, Algeria agree to boost cooperation in oil, gas sectors
Oil Industry Safety Directorate
Asian crude buyers size up Iran barrels
Executive Director
Shri Hirak Dutta
China moves to make the grade as a setter of oil price
PetroMag
CRUDE OIL
National Productivity Council

President
Mrs. Nirmala Sitharaman (Union
Minister for Commerce and
Industry)
Chairman
Sh. Amitabh Kant, IAS
****************
Indian Oil Corp. Ltd.
Chairman & MD
B. Ashok
Dir (Mktg.)
Shri Makrand Nene
Dir(Ref.)
Shri. U. Venkata Ramana
****************
Iran warns Opec it plans to recapture market share
Iran sees oil output up 1 mln bpd after curbs end
Russian oil production dips in July
Will China join the IEA?
Shells Japan Deal Signals Further Refiner Consolidation
OPEC Oil Production Falls as Iraqi Output Slips From Record
DHAKA: Govt makes abnormal profit from fuel oil
Waiting for the Second FLNG Wave
NEPAL: NOC slashes LPG price by Rs 35/cylinder
KARACHI: Sustainable Energy
Arguments for and against the Keystone pipeline are all over the map.
Indonesia's Donggi-Senoro LNG project ships first cargo
Oil companies Royal Dutch, Centrica, Saipam, forecast big job losses
Natural gas futures - weekly outlook: August 3 - 7
Bharat Petroleum Corp. Ltd.

Chairman & MD
Shri S. Varadarajan
CRUDE OIL
Dir (Ref.)
Shri. B K Datta
Dir (Mktg.)
Shri. K.K. Gupta
Dir (Fin.)
P Balasubramanian
Crude oil futures - weekly outlook: August 3 7
Nymex oil posts worst monthly drop of 2015
Saudi tumbles on oil, earnings; other markets also weak
WTI Crude Oil Speculators Drop Net Bullish Positions For 4th Week
****************
Hindustan Petroleum Corp. Ltd.
Chairman & MD
Ms Nishi Vasudeva
IMPORT & EXPORT PORTWISE DATA
Director - Refineries
Mr. B. K Namdeo
Director - Marketing
Mr. Y K Gawali
Dir (Fin.)
Mr. K V Rao
****************
Import of Petroleum Products at Indian Ports during May 2015
Export of Petroleum Products at Indian Ports during May 2015
Import of Petroleum Products at Indian Ports during June 2015
Export of Petroleum products at Indian Ports during June2015
Oil & Natural Gas Corporation

Chairman & MD
Shri D K Sarraf
Dir (Onshore)
Ved Prakash Mahawar
Dir(Offshore)
Sudhir Sharma
Dir (Finance)
Mr. A. K. Banerjee
Gujarat State Petroleum

Corporation
Shri. L Chuaungo
PetroMag
National Productivity Council

President
Mrs. Nirmala Sitharaman (Union
Minister for Commerce and
Industry)
PROJECT UPDATE (W.E.F : 08/07/2015)
Director General
Shri Harbhajan Singh
Chairman
Sh. Amitabh Kant, IAS
****************
Oil India
Chairman - Interim
U.P. Singh
Executive Director (Operations)
S. Balasubramanian
Dir(Ref.)
Sanjiv Singh
****************
Bharat Petroleum Corp. Ltd.
Chairman & MD
Shri S. Varadarajan
Dir (Ref.)
Shri. B K Datta
Dir (Mktg.)
Shri. K.K. Gupta
CB-ONN-2003-1 (A&B) Oil Exploration (NELP-V) Project
Coke Gasification (Jamnagar) Project
East India Paradip Refinery - IOC
Ennore LNG Terminal Project - IOC
Gas Cracker Dibrugarh Project - BRAHMAPUTRA CRACKERS LTD
Gas Pipeline (Mehsana-Bathinda and Bathinda-Jammu-Srinagar) Project
Liquid Storage Tank Terminal (Kandla) Project
LNG Re-gasification Terminal (Mundra) Project
LNG Storage & Re-gasification Terminal (Chhara) Project
LNG Terminal (Uran) Project
Manali Refinery (Chennai) Project - Upgradation
Petroleum Refinery (Atchutapuram) Project - Phase I
Petroleum Refinery (Guwahati) Project - Modernisation
Petroleum Refinery (Koyali) Project - Expansion
Dir (Fin.)
P Balasubramanian
Piped Gas (Pune) Project
****************
Refinery (Mumbai) Project - Upgradation
Hindustan Petroleum Corp. Ltd.
Refinery (Pachpadra) Project HPCL
Strategic Crude Oil Storage Project - VISHAKAPATTANAM
Gujarat Gas Grid Project
Gas Pipeline (Alwar, Baran & Jhalawar) Project
Dabhol-Bangalore Gas Pipeline Project - GAIL
Cuddalore Refinery Project - NAGARJUNA
Crude Oil Pipeline (Paradip-Haldia-Barauni) Project - Augmentation
Crude Oil Pipeline (Chennai Port-Manali Refinery) Project
Chairman & MD
Ms Nishi Vasudeva
Director - Refineries
Mr. B. K Namdeo
Director - Marketing
Mr. Y K Gawali
Dir (Fin.)
Mr. K V Rao
****************
Coal Bed Methane (Jharkhand) Project
Oil & Natural Gas Corporation

Chairman & MD
Shri D K Sarraf
City Gas Distribution (Hyderabad & Vijayawada) Project
Chainsa-Gurgaon-Jhajjar-Hissar Gas Pipeline Project -GAIL
Dir (Onshore)
Ashok Varma
Aromatic Complex (Mangalore)
LNG Terminal (Paradip) Project
LNG Terminal (Dahej) Project - Expansion
Dir (Finance)
Mr. A. K. Banerjee
LNG Floating Storage & Regasification (Kakinada) Project
Kochi-Kanjirkkod-Mangalore-Bangalore Pipeline Project
Gujarat State Petroleum Corporation
Kochi-Irimpanam Petroleum Pipeline Project
Dir(Offshore)
T. K. Sengupta
Shri. L Chuaungo
PetroMag
Kochi-Coimbatore-Erode-Salem LPG Pipeline Project
Kochi Refinery Project - Expansion
Kirandul-Visakhapatnam Slurry Pipeline Project
Karanpur-Moradabad-Kashipur-Rudrapur-Pantnagar Gas Pipeline Project - GAIL
Kakinada Refinery Project - KAKINADA
Pipeline (Awa Salawas) Project
Petroleum Storage Terminal Project -MOHANPURA
Petrochemical Complex Dahej - ONGC Petro additions ltd
Paraxylene (Jamnagar) Project
Panna Oilfield Development Project
Natural Gas Pipeline (Pipavav-Gundlav) Project
Chevron Petroleum
Natural Gas Pipeline (Barauni-Guwahati-Agartala) Project
Chairman and Chief Executive

Officer
John S. Watson
Mumbai High (South) Redevelopment Project - Phase II
Mathura-Tundla-Kanpur Product Pipeline Project - Extension
LNG Terminal Kochi Project PETRONET LNG LTD
Numaligarh Ref. Ltd.
Visakhapatnam Marketing Installation Resitement Project
Vadinar Oil Refinery Project - Expansion
Managing Dir.
Mr. P. Padmanabhan
Uttar Pradesh Refinery Project - LOHAGARA
Uran-Chakan-Shikrapur LPG Pipeline Project
Ratna Oilfield Development Project
Rewari-Kanpur Pipeline Project
****************
Shell India Limited
Chairman
Jorma Ollila
Chief Executive Officer
Ben van Beurden
****************
Castrol India Ltd.
Chairman
Mr. Navin Kshatriaya
****************
Chevron Lubricants
Managing Director
Mr. Akhil Kumar
****************
Total Oil India Pvt. Ltd.
Country Chairman & Managing
Director
Mr. B. Vijay Kumar
****************
Chennai Petroleum Corporation
Limited (CPCL)
Managing Director
Mr. Gautam Roy
Finance Director
S Krishna Prasad
****************
****************
Petronet LNG Limited

Chairman
Saurabh Chandra
CEO & MD
Dr. A. K. Balyan
Dir (Tech)
Rajender Singh
Dir (Fin.)
Mr. R. K. Garg
****************
Dir (Fin.)
Mr. S K Barua
****************
Mangalore Ref. Pet. Ltd.
Managing Dir.
Mr. Prasad
Director
(Refinery)
Perin Devi
****************
Cairn India Ltd.
Interim Chief Executive Officer &
CEO
Mayank Asher
Balmer Lawrie & Co. Ltd.

Chairman & MD
Mr. Virendra Sinha
******************
Oil India Limited
Chairman & MD
Mr. S K Srivastava
Dir (E&D)
Mr. Sudhakar Mahapatra
MD
Sudhir Mathur
Head Sales and Marketing

Mr. Karunakaran Hari
***************
Tata Petrodyne Ltd.
Chairman
Mr. Prasad R. Menon
Director (Operations)
Mr. Satchidananda Rath
Director (Finance)
Shri PetroMag
S. Krishna Prasad
Executive Director & CEO

Mr. S.V.Rao
****************
INTERNATIONAL PRICES
Energy Prices Petroleum ($/bbl) [Revised daily]
Price
Change
Nymex Crude
46.81
- 0.31
Dated Brent
51.78
- 0.43
WTI Cushing
46.75
- 0.37
NYMEX price for Crude, Gasoline and Natural Gas Futures[Revised daily]
NYMEX Light Sweet Crude
-1.40
$47.12
ICE Brent
-1.10
$52.21
+0.0131
$1.8410
-0.0142
$1.5840
-0.019
$2.749
RBOB Gasoline NY Harbor

Heating Oil NY Harbor
NYMEX Natural Gas
ICE Futures[Revised daily]
Brent $/bbl
51.19
US Stock 31/07/15 (million barrels) [Revised WEEKLY]
Product
Stock: 24/07/15
Change vs.
Change vs. year
week
-4.2
92.3
Crude oil
459.7
Gasoline
215.9
-0.4
-2.3
Distillate
144.1
2.6
17.4
Propane
89.446
1.756
22.245
Base Oil USA (FOB) Revised fortnightly] 31-07-15

SN 150
850
865
SN 500
885
895
1220
1235
Bright Stock
Base Oil Iran (FOB) [Revised fortnightly] 31/07/15

SN 150
685
700
SN 500
665
670
Bright Stock
925
930
Reclaimed Oil (Kuwait)
595
605
US working gas in underground storage (bcf) Data Released 31st, JULY, 15

[Revised WEEKLY]
Region
East
West
24/07/15
17/07/15
Change
1,318
1,276
42
464
458
Producing
1,098
1,094
Total
2,880
2,828
52
Product Prices USD Arab Gulf [Revised daily]

HSFO 180 CST ($/mt)
325.50
333.00
HSFO 380CST ($/mt)
286.50
302.00
Naphtha Prices 03/08/15 [Revised fortnightly]

CIF ARA Cargoes
CIF MED Cargoes
LPG Price 03/08/15
PetroMag
454.25
443.75
Propane
454.75
444.25
Butane
North West Europe

FOB Seagoing
245.000
351.000
FOB ARA
353.000
348.000
Arab Gulf
346.000
377.000
.. [Revised fortnightly]
Week Ending Quotations of OPEC Reference Basket Price
Month
Week
Ending
Basket
February, 2015
09
27/02
$ 54.87
March, 2015
10
06/03
$ 55.98
11
13/03
$ 52.93
12
20/03
$ 49.50
13
28/03
$50.01
14
03/04
$ 51.98
15
10/04
$ 53.93
16
17/04
$ 57.44
17
24/04
$ 59.30
18
29/04
$ 61.37
19
08/05
$ 63.57
20
15/05
$ 62.83
21
22/05
$ 61.78
22
29/05
$ 60.43
23
05/06
$ 60.49
24
12/06
$ 61.08
25
19/06
$ 60.21
26
26/06
$ 59.74
27
03/07
$ 58.71
28
10/07
$55.07
29
17/07
$ 54.59
30
24/07
$53.19
May 2015
$ 62.16
June 2015
$ 60.38
July 2015
$ 55.09
Quarterly Average
2Q15
$ 59.90
Quarterly to Date Average
3Q15
$ 55.83
Yearly Average
2014
$ 96.29
Yearly to Date Average
2015
$ 55.12
April, 2015
May, 2015
June, 2015
July 2015
Monthly Average:
Month to Date Average
..REVISED WEEKLY
CRUDE OIL STOCKS [Revised WEEKLY]
Most Recent
26/06/15 03/07/15 10/07/15
PetroMag
Year Ago
17/07/15
24/07/15
23/07/14
U.S.
East Coast
(PADDI)
465.4
465.8
461.4
463.9
459.7
367.4
15.5
15.8
13.9
14.3
14.6
11.4
Midwest (PADD II)

Cushing,
Oklahoma
Gulf Coast (PADD
III)
Rocky Mountain
(PADDIV)
West Coast(PADD
V)
138.4
137.8
138.8
139.1
139.3
83.9
56.4
56.7
57.1
57.9
57.7
17.9
234.3
233.9
231.8
234.3
231.1
197.4
21.5
21.3
21.8
21.8
21.6
19.9
55.7
56.9
55.1
54.4
53.1
54.8
DAILY SHARE PRICES
As on close of 31-07-2015
Todays
Closing
Change
absolute
TodaysHigh
Todays Low
52 week
High
52 week Low
Aban Offshore Ltd.
301.00
3.60
311.60
298.00
821.00
276.00
Balmer Lawrie & Co. Ltd
632.30
-6.55
647.00
632.25
681.55
507.00
Bharat Petroleum
925.40
-20.75
959.00
918.95
987.00
561.15
Cairn Ind. Ltd.
172.35
3.20
174.60
170.00
344.15
156.80
Castrol India Ltd.
491.20
-9.90
508.00
490.10
544.00
325.15
Chennai Petroleum
191.45
-15.15
204.20
190.00
209.95
62.20
Engineers India
241.60
9.25
243.00
231.00
287.00
178.10
Essar Oil
192.60
2.80
194.80
188.65
200.30
91.85
GAIL India Ltd.
348.60
0.45
351.95
343.50
551.35
354.00
Gujarat Gas
745.60
-16.10
775.00
740.00
871.75
366.00
Gujarat State Petronet
128.90
1.70
130.10
126.05
136.90
80.00
Gulf Oil Corp. Ltd.
163.50
-2.00
167.10
163.00
188.30
120.90
40.60
1.65
40.95
39.10
75.50
31.85
Hindustan Petroleum
924.05
-13.90
944.95
918.05
945.75
390.90
Indian Oil Corp. Ltd.
431.25
-14.00
446.40
428.55
465.40
307.00
72.60
0.25
74.50
72.60
80.75
45.10
4.26
-0.06
4.40
4.20
6.55
3.50
Oil India Ltd.
432.40
8.55
435.00
423.75
668.80
420.00
Oil and Natural Gas
273.05
1.85
276.40
271.10
458.95
263.60
Petronet LNG
193.00
-1.50
198.00
191.50
221.90
159.80
1001.65
2.35
1007.90
990.00
1,067.00
796.75
1271.00 16700.00
15315.00
19,680.00
11,079.00
Hindustan Oil Exploration
Mangalore Refineries
Nagarjuna Oil Refinery Ltd.
Reliance Industries Ltd.

Tide Water Oil India
16586.00
MARKET WATCH
BSE Sensex
NIFTY
DJIA
CURRENCY WATCH
28,114.56
409.21
Rs 1 $
64.0054
8532.85
111.05
Rs. 1 Euro
70.1627
17,689.86
-56.12
Rs. 100 Jap. Yen
51.5500
Rs. - 1 Pound
99.8356
NASDAQ
5,128.28
-0.50
MIDCAP
11273.02
114.62
Repo Rate
PetroMag
7.25%
Bank Rate
8.25%
Reverse Repo Rate
6.25%
Sanctions off, Iran oil ties get

priority
Oil minister Dharmendra Pradhan is expected to lead a delegation to Iran in the coming weeks to scout for
opportunities in oil and gas, following the end of sanctions on Tehran by the West.
The talks will cover the development of the Farzad-B field, revival of the Iran-Pakistan-India gas pipeline and the
modernisation of the oil and gas infrastructure in the Islamic nation.
"India is keen on strengthening ties with Iran, as we stood by them when sanctions were imposed by the US and
the EU. The petroleum minister will soon be leading an Indian delegation to Tehran in the coming weeks to
discuss energy co-operation between the two nations," a senior oil ministry official said.
An Indian delegation led by finance secretary Rajiv Mehrishi has just returned from Tehran. This delegation
comprised officials from the finance, petroleum and natural gas ministries and the RBI.
Officials said they discussed the payment of $6 billion owed by PSU refiners for the purchase of crude oil. The
payment could not be made because the international settlement channels were blocked by the West.
India is keen to increase crude imports from Iran after settling the dues. Iran supplied around 11 million tonnes
(mt) of crude of the total imports of 190mt in the last fiscal, a share of 5 per cent. Prior to the sanctions, imports
were much higher at 18mt.
State-owned refiner IOC is planning to buy crude to operationalise its refinery at Paradip in Odisha.
The oil ministry hopes to convince Iran to honour its commitment to let ONGC develop the Farzad-B gas field in
the Persian Gulf. It is one of the biggest gas field discoveries by an Indian company abroad. However, ONGC
Videsh Ltd has shied away from investing nearly $7 billion because of the sanctions. The field has reserves of
12.8 trillion cubic feet of gas.
The country is also keen on reviving the Iran-Pakistan-India gas pipeline, which had been put on the backburner.
The development of the Chabahar port in Iran is also expected to pick up speed with the lifting of sanctions.
In 2003, India and Iran had agreed to develop Chabahar on the Gulf of Oman, near Iran's border with Pakistan,
but the venture has moved slowly.
"With Pakistan not a feasible transit option, the Indian government sees the potential for Iran to serve as a crucial
transit route to Afghanistan and Central Asia, a region with which Prime Minister Narendra Modi advocated
greater linkages during a recent visit," Tanvi Madan, an analyst at Brookings Institution, said.
We can process 170 types of

crude oil today
Indian Oil Corporation is looking at a rather strong first quarter on the back of a consistent domestic retail fuel
pricing policy by the government, low oil prices and its own financial jugglery.
With better gross refining margins, upgrading of existing refineries, the setting up of a new one (Paradip), and a
sharper focus on its gas business and pipeline network, the company is once again gearing up to beat the
competition, said B Ashok, its Chairman. Edited excerpts from an interview with BusinessLine:
How do you counter the constant refrain that Indian Oil is not spending enough to upgrade its refineries, process
cheaper crude, and improve refining margins?
I would like to clarify that we have been constantly upgrading our refineries. If you look at our capability today to
process different types of crude, this is because of upgradation.
We have been consistently spending money. Plan after plan our expenditure has only been increasing. We should
be close to achieving the 12{+t}{+h} Plan target. In fact we will go over the capital expenditure target of ?56,200
crore. With two years left, we have already crossed ?40,000 crore.
We have also spent on a Greenfield refinery at Paradip, which is close to commissioning. Money has also been
put in to improve fuel quality. India will be completely covered with BS IV by April 2017. All this meant that the oil
industry has to upgrade technology.
Of the total capex for the 12{+t}{+h} Plan, how much is for upgrading refineries alone?
Broadly, about 50 per cent is going to refineries, which includes both upgradation and quality product
implementation. In every refinery there is a quality upgradation project, which is ongoing. In the next phase, when
we go for Euro VI (BS VI), we will combine it with brownfield expansions.
Does this mean your GRMs will be as good as your private counterparts?
Refineries in India, which include the private ones, have shown the world that if you increase your capabilities to
process multiple types of crude then you are in a better position to take advantage of the market (in terms of
product availability and pricing). In terms of average complexity, if you include all the private sector refineries,
India ranks very high if not the highest in the world.
PetroMag
If you see Indian Oils basket, we can process 170 plus varieties of crude today. At any point of time we should
have some 40 sources, which include West Asia, South-East Asia, Latin America, Africa, and some CIS countries
also. This has improved our flexibility.
As regards GRM (gross refining margin), the first quarter has been relatively good. The figures will be out soon
and we are pretty optimistic.
Are you buying Iranian crude also? Is Iraq still your main supplier?
We were buying Iranian crude to a limited extent. Of course, the new developments (the nuclear deal) have
provided a scope for increased supply. But, these developments will not happen overnight. So, we will have to
wait and watch as to how things pan out. For Indian Oil, at the moment, the maximum is from Iraq.
Have you reworked your crude procurement process?
Between last year and this year we have increased our flexibility to process spot crude by reducing terming (term
contracts) quantities from 80 per cent to 70 per cent. If you do too much of terming then the schedules are all
fixed and the carriers carrying these quantities will come to the port, thus, closing any pricing opportunities
available. A key thing that we have done in our procurement process for spot is that we have shrunk the window
of our tenders.
Till the middle of last year, we were taking almost 36 hours to process. We have now reduced it to 12 hours. It is
helping us in terms of bringing the cost down by a few cents in our procurement. For both product imports and
crude imports, we have done this shrinking.
Besides Paradip, are you looking at another new refinery?
We are evaluating a West Coast refinery (the only region IOC does not have a refinery). Setting up a refinery is not
something that happens overnight. We have studied the demand and also looked at scenarios of substitute as
well as alternate fuels that can come in. Based on certain assumptions we feel that there is a need for another
refinery.
At the retail level have you revived your branded fuels?
Branded fuel is picking up again. We have reintroduced it. Close to 14-15 per cent of our overall sales were
coming from branded fuels (earlier). Subsequently, because of the duty structure the excise duty being higher
for branded fuels sales almost went down to zero. But, during that time we kept marketing additives separately
for discerning customers who wanted fuel outside the conventional commodity fuel.
But now that duties have been rationalised and the price difference has come down, we have relaunched
branded fuel because the infrastructure is already available. It is picking up.
Why Iran nuclear deal may lead to

windfall gains for India
More importantly, it has acceded to a rigorous inspection of its nuclear facilities in return for lifting the US, EU
and UN sanctions. While the dealstarted after the election of Hassan Rouhani as Iranian President in 2013 and
mediated by Sultanate of Omanhelped restore diplomatic relations between the US and Iran, which have been
hampered since the 1979 Iranian Revolution. It has significant implications for countries in Middle East and Asia,
especially India.
As a major net importer of oil, India has already benefited from the US -led nuclear deal with Tehran. Oil prices
have declined in recent days, driven largely by expectations of more Iranian crude hitting the market (India saves
nearly $1 billion in import costs for every dollar drop in global crude prices).
In fact, India has been preparing for the dealPrime Minister Narendra Modi recently met with Rouhani on the
sidelines of the Shanghai Cooperation Organisation summit in Russia's Ufa, where he invited Rouhani to visit
India and expressed his desire to visit Iran. His desire to travel to Iran is seen as part of a calibrated strategy to
visit the Middle East neighbourhood, including Israel, Palestine, Jordan and Turkey, in the second year in power
after visiting countries in the immediate neighbourhood and Asia-Pacific besides G-7 partner countries within a
year of coming to power.
The US-Iran deal will have significant impact on the energy and economic ties between Indian and Iran as India
continues to be the world's fourth largest energy consumer and imports more than three-quarters of its oil and an
increasing amount of its natural gas.
A few years ago, 17% of Indian oil imports were from Iran, which had become the country's second largest
supplier. Last year, Iran was seventh on the list, supplying only 6% of Indian oil imports.
The enhanced volume oil that is expected to flow to India following the lifting of sanctions on Iran will help the
country meet its burgeoning fuel needs as it embarks on an ambitious journey to solidify its position as the top
economic power in the region along with China. This is particularly significant considering sanctions on the
Iranians since 2003 have forced India to increasingly look at Iraq, Kuwait, the UAE and Saudi Arabia for oil
imports.
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The Modi government, which benefitted a lot from falling oil prices (when Modi came to power, the price for crude
oil was $108.05 a barrel which declined to $57.19 a barrel on the day of the Iran-US deal), hopes that a possible
oil glut following the re-entry of Iranian oil in global oil marketwhich has already inundated with increased Shale
production in the USwill greatly benefit Indian oil refining firms.
Considering China's role in developing and modernising the port of Gwadar in Pakistan and with Pakistan not a
feasible transit option, India sees the potential for Iran to serve as a transit route to Afghanistan and Central Asia.
This has enhanced India's desire to invest in upgrading the Iranian port of Chabahar. While talks over Chabahar
have been halted over and over again, the nuclear deal has cleared crucial political and financial obstacles and
India expects the port to be operational by the end of 2016. The deal may also lead to fruitful discussions over
developing another transit corridor through Iran to Europe and Russia.
The deal will also enhance the relation between India and the US which has been under strain of late as the US
has been looking askance at India's relationship with Iran and especially its oil imports. Indian energy firms like
ONGC have also found their financial interests being hampered due to American sanctions as they have made
considerable investments in Iran.
However, the deal is also going to hurt Indiaas India refused to fully take part in the US-led sanctions on Iran, it
has emerged a key trading partner of Tehran in the recent past with Indian corporates making a windfall (exports
to Iran nearly doubled to $3.3 billion between 2009 and 2013). However, once the sanctions are lifted, Indian
businesses will begin to face stiff global competition in doing business in Iran. For instance, India has been a
major exporter of automobile components, tools, motors and chemicals to Iran. Now Indian exporters will have to
compete with Eastern European manufacturers, who produce low-end products like spanners, hand tools and
auto parts. The fall in the value of euro, over the last few years, is expected to further enhance the
competitiveness of European manufacturers.
PM favours export of surplus

sugar, ethanol blending
New Delhi: Prime Minister Narendra Modi on Saturday favoured elevating sugar exports to liquidate surplus
shares as a result of of low home demand that has led to an enormous cane arrears of over Rs 14,000 crore to
farmers.
Modi chaired a gathering of ministers and officers to evaluate points associated to the sugar sector the place he
referred to as for growing the ethanol-blending with petrol.
Taking word of the present provide-demand points with regard to sugar, the Prime Minister referred to as for
assiduous efforts to extend ethanol blending of gasoline. He additionally referred to as for exploring all prospects
for export of sugar, a PMO assertion stated after the assembly.
Sugar business, which owes about Rs 14,398 crore to cane farmers, is unable to make cost as its dealing with
extreme liquidity crunch on account of surplus manufacturing that has resulted in low costs of sugar within the
home market.
Finance Minister Arun Jaitley, Agriculture Minister Radha Mohan Singh, Food Minister Ram Vilas Paswan and
Commerce Minister Nirmala Sitharaman, amongst others, participated within the assembly.
The Prime Minister emphasised that the farmers curiosity be stored foremost always, and points associated to
sugar sector be monitored repeatedly. Long-time period measures with regard to the sector have been
additionally mentioned, the assertion stated.
Modi additionally reviewed the progress with regard to the Rs 6,000 crore incentive package deal permitted by
the federal government in June 2015 to allow sugar mills clear cane arrears to farmers.
Ex-mill sugar costs have fallen to under Rs 20/kg within the nation, whereas the fee of manufacturing is over Rs
30/kg. There continues to be surplus inventory of 10 million tonnes within the nation.
Sugar manufacturing of India, the worlds second largest producer and largest shopper, is estimated at report
28.3 million tonnes in 2014-15 advertising yr (October-September), as towards 24.3 million tonnes within the
earlier yr. The complete annual demand is pegged at 24.5 million tonnes.
Senior officers from the Ministries of Agriculture, Food and Consumer Affairs, Finance, Commerce, External
Affairs, Petroleum and Natural Gas, in addition to NITI Aayog and PMO, have been additionally current within the
assembly.
Food ministry is believed to have proposed numerous brief and long run measures to beat the disaster that
features obligatory larger exports, elevated ethanol (bye-product of sugarcane) blending with petrol and
enlargement of co-era energy capability.
Private oil players stress on

marketing
Private fuel retailers, such as Reliance and Essar, are likely to capture 10-12 per cent of the market share by
2018-19 through innovative marketing strategies.
"The big three public sector oil marketing companies are unlikely to lose more than 3-5 per cent market share
over the next two years. However, private players are likely to capture 10-12 per cent market share by 2018-19
with 7-8 per cent share in retail outlets," rating agency Crisil said in a research note.
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The market is dominated by three state-owned players - Indian Oil Corporation, Bharat Petroleum Corporation and
Hindustan Petroleum Corporation.
The private players have already started some novel campaigns. Reliance, for instance, is offering discounts,
ranging from 25 paise to 80 paise per litre, depending on monthly consumption.
Customers in Gujarat (where its refinery is located) and Maharashtra (along the coast) are being offered higher
discounts.
New players are also likely to implement location-based pricing. Certain locations may have lower prices because
of various reasons such as proximity to the refinery, higher throughput per outlet and more competition.
A dynamic pricing model, with consumers paying marginally different rates in a city depending on the location of
the outlet and the time of the day, is under consideration.
Analysts said the companies would come up with different strategies for cities and highways, apart from providing
non-fuel retail options at the pumps to woo customers.
Outlets which cater primarily to trucks could offer essential facilities to the truck drivers - a secured parking area
and an inexpensive place to rest and eat. On highways, fuel stations would have eateries, restrooms, ATMs, Wifi,
pharmacies and car wash facilities.
The fuel retail industry was worth about Rs 6.2 trillion in 2014-15. Petrol and diesel together accounted for
around 50 per cent of petroleum product consumption of 100 million kilolitres in the last fiscal.
HPCL trucks to use bio diesel
In a step towards adopting green fuel, Hindustan Petroleum Corporation Ltd. (HPCL) has begun using bio diesel in
its company trucks. Initially, the oil major will use 5% bio diesel blended with regular diesel.
Diesel engines require very little or no modification to use up to 20 per cent of bio diesel and a minor
modification for higher percentage blends, said a company source after the launch recently.
HPCLs fleet of seven fuel-carrying trucks attached to the Athipet terminal in north Chennai will now use blended
diesel.
Bio diesel is priced at Rs. 50 a litre and is manufactured from vegetable oils and animal fats. HPCL procures the
green fuel from private companies in Kakinada, Nagpur and elsewhere.
The use of this fuel results in substantial reduction of un-burnt hydrocarbons, carbon monoxide and particulate
matter.
It has almost no sulphur (only 50 ppm), no aromatics and about 10 percent built-in oxygen which help in ensuring
better combustion.
Indian Oil, Hindustan Petroleum,

Bharat Petroleum may soon let
anyone open petrol pump
NEW DELHI: Anyone wanting to own a petrol pump will soon be able to do so at a place of his choice without
having to be particularly lucky in a long-drawn system or being born in backward caste.
The government is considering a proposal to offer state-run fuel retailers the freedom to allocate dealership to
anybody willing, a move that has the potential to revolutionise the sector, curb malpractices, and most
importantly arm state companies against the emerging competition from private rivals such as Reliance
IndustriesBSE 0.24 % and Essar Oil that have resumed expansion following a deregulation of fuel sales,
government and industry sources said.
Government officials will meet executives of Indian Oil CorporationBSE -3.14 % (IOC), Hindustan PetroleumBSE 1.48 % Corp (HPCL) and Bharat Petroleum Corp (BPCL) this week to work out the details of the plan, they said.
Government officials will meet executives of Indian Oil CorporationBSE -3.14 % (IOC), Hindustan PetroleumBSE 1.48 % Corp (HPCL) and Bharat Petroleum Corp (BPCL) this week to work out the details of the plan, they said.
As per the proposal, anyone wanting a dealership can apply at any point in time and be awarded one quickly as
long as he makes the entire investment involved in setting up a filling station.
"We will no more have one hand tied behind our back while fighting the private competition," a senior executive at
a state-run fuel retailer said.
At present, state firms are saddled with norms requiring appointment of about half of dealers from backward
class, restriction of dealership to just a member in the family, follow the arduous appointment process and also
cater to political interests.
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The memory of a decade back is still fresh in the minds of state-run firms when private players snatched nearly
15% share in the sale of diesel within years of their entry, mostly due to extensive use of technology, enhanced
level of service and total control over dealers. This is why they are lobbying the government to give them a free
hand to fight private competition.
"We have had little control over distributors. We have always had the dilemma that if we were to fire a dealer we
may lose the market to a competitor and not be able to recover that quickly because the appointment of a
replacement would take a long time," said the executive.
He was referring to the challenges state firms have faced in firing distributors engaged in malpractices, which
lower the quality of service to customers. But a flexibility to appoint a new dealer will remove this dilemma, he
said.
Moreover, the government has mandated a 10% automation every year at IOC, HPCL, and BPC LBSE -2.19 %,
which currently have about a third of their regular petrol pumps automated. This technological application helps
companies keep a check on adulteration at fuel stations.
The proposed system will also help state firms attract most entrepreneurs interested in the petrol pump
business, leaving fewer candidates for the likes of Reliance or Shell. Until now, the private players could easily
offer their dealership to those who had lost out in the race to win a public sector petrol pump.
"There is still an inclination for public sector pumps. Also, the private players can't match the security of supply
we provide because of our nationwide infrastructure," the executive said.
A government official said the move will also enhance state firms' presence across markets, a "brand boost", and
help find dealers easily.
Soaring land prices in cities and falling average volumes at filling stations due to proliferation of pumps have
made appointing dealers a difficult exercise.
To appoint a dealer, state oil companies survey markets to identify locations for new filling stations, then seek
applications from eligible candidates meeting government guidelines and then pick one either through a draw of
lots or by an open bidding process. In most cases, the cost of setting up petrol pumps is shared between
companies and dealers.
Until a few years ago, the appointment process also included interview of candidates, making the process prone
to influence and corruption.
India has about 53,000 petrol pumps with 95% of them under the control of state firms.
Afear that the subsidy may snap back again if crude oil prices were to shoot up has checked faster expansion at
private retailers. But the Chinese slowdown, Iran's nuclear deal and the unwillingness of West Asian oil producers
to cut output has boosted conviction that oil prices will not go up in a hurry. This is being read as a signal that
private retailer may press the accelerator now.
Bunk owners sell subsidised diesel

on the black market
Government offers a relief of Rs 9-10 on every litre of diesel to automobile owners, presenting the unscrupulous
diesel seller the perfect setting to make a quick buck
Bengaluru's oil business is turning murky again. At least 45 petrol bunks have come under the scanner for selling
subsidised diesel at non-subsidised diesel rates.
Bengaluru Petroleum Dealers' Association has taken up the issue with the petroleum ministry, oil marketing
companies (OMCs) and the Karnataka government to blow the lid off the con game.
The racket is said to have become rampant after the union government stopped the sale of subsidised diesel to
bulk consumers like industries, while restricting its sale to retail users like automobile owners.
The government offers a subsidy of Rs 9-10 on every litre of diesel to its select user, an automobile owner for
one. Now, that becomes a perfect setting for the unscrupulous diesel seller to make a quick buck. Taking
advantage of the situation, a few OMC executives collude with petrol bunk retail outlet operators for a higher
commission. This becomes easy for them with most automobile users not bothering with bills every time they
tank up. OMCs show through their record books that the diesel was sold at the petrol bunks, even that which
their oil tankers would have illegally door delivered to factories and educational institutions to be used in
generators.
"This sort of unscrupulous activity is affecting the business of genuine retail outlets," said B R Ravindranath,
president of Bengaluru Petroleum Dealers' Association. In fact, the city had earlier faced problems related to
pilferage and adulteration of fuel being transported from refilling units to petrol bunks. While stating that there
are at least 45 such retail outlets that have been illegally selling subsidised diesel, Ravindranath told Bangalore
Mirror, "Last week, we met the deputy director (Bangalore West) of the department of food, civil supplies and
consumer affairs and complained to him about the illegal sale of diesel by dealers, which is hazardous to public.
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Earlier too, we complained about the same to the in-charge minister, home minister and the home secretary who
asked the officials concerned to initiate action and seize such vehicles. Despite the orders, vehicles still transport
diesel, mostly late at night. They also go to schools and colleges and illegally supply diesel. The possibility of fire
accidents becomes high with such illegal activities."
"The illegal activities of around 45 retail outlets is effecting 500 other dealers who end up incurring losses. We
have requested them to stop such activities. But they continue to do so, and that is when we decided to meet the
food and civil supplies minister requesting him to take action. Oil tankers are owned by the retailers. It is obvious
that officials of oil companies are hand in glove with the retailers," added Ravindranath.
Deputy director (Bangalore West) of food, civil supplies and consumer affairs Manjunath said, "The Bengaluru
Petroleum Dealers' Association have informed us about illegal supply of diesel in tankers. We will act according to
our superiors. We can inspect the density and changes in the retail outlets and check the transactions if
required."
Retail outlets keep the delivery short; instead of supplying 3,000 litres, they supply 2,800 litres from the tanker.
The dealer saves 200 litres to earn Rs 10K as commission.
THE TRIGGER
Last Saturday, a vehicle illegally transporting diesel from Kengeri to the other part of Bengaluru was caught by
Kumbalagodu police. Speaking of the incident, an officer of the station said, "We got information from the
department of food, civil supplies and consumer affairs about a tanker illegally carrying diesel. We found that the
tanker was filled up at Sai Fuel Station to sell its load of diesel to an industry to run their generator." "Fuel to
retail consumers should be carried in barrels not in tankers and should not exceed 2,000 litres. Tankers don't
have safety measures and may explode. The fuel station was selling to an industry to make extra money. The
driver of the tanker Nagesh and cashier of the fuel station Niranjan Kumar were arrested under the Essential
Commodities Act. We later learnt they were carrying the fuel without a valid licence," he added.
37% rural homes in Tamil Nadu

use LPG, highest in country
CHENNAI: Tamil Nadu has the most number of rural households in the country using LPG for cooking. More than
37.2% of the total rural households had LPG connection in 2011-12, says the latest NSSO survey data released a
few dys ago. While 59% of rural households in the state still use firewood or chips as fuel for cooking, only 2.5%
of the total households in Tamil Nadu's rural areas use kerosene for cooking.
Tamil Nadu is followed by Kerala where 30.8% of the rural households using LPG. According to oil companies, the
number of rural households use LPG began to increase from 2007 when the DMK government launched free
distribution of cooking gas connections and gas stoves for below-poverty-line (BPL) families.
At a national level, firewood and chips used by 67.3% of the rural households, followed by LPG, which was used
by 15.0% households. Only 9.6% and 1.1% of the rural households used dung cake, coke and coal as primary
source. The remaining 4.9% households used other sources such as gobar gas, charcoal and electricity. Around
1.3% rural households did not have any arrangement for cooking, says the NSSO survey.
In urban areas, most of the households used LPG as primary source of energy for cooking.
LPG was used by 68.4% of the urban households in the country, followed by firewood and chips with 14 %
households. Kerosene was the main cooking fuel in 5.7% of the households and 2.1% of households used coke
and coal and only 1.3% of the urban households used dung cake. The remaining 1.5% households used other
sources. Noticeably, 6.9% of urban households did not have any arrangement for cooking.
Haryana had the maximum number of households with LPG connections, 86.5% of its households. This is
followed by Andhra Pradesh with 77.3%. Tamil Nadu has 70.9% of households with LPG connections in cities and
towns and the rest use kerosene and firewood as cooking fuel in the state.
Around 3 lakh connections were given free by the DMK government in 2007 with the help of Centre. "All these
connections were for people in city slums and in villages. DMK chief M Karunanidhi along with then petrole um
minister Murli Deora launched the scheme, after which the number of households with LPG connections started
to increase," DMK spokesperson T K S Elangovan told TOI. Many households in urban and rural areas benefitted
from the scheme.
Certain issues on GST that must

be resolved
There are so many issues in GST which are not settled, but I am now focusing on mostly those, which came up for
discussion, after a Rajya Sabha select committee, on July 20, submitted a report endorsing majority provisions of
the Goods and Services Tax (GST) Bill. Two points are most relevant, namely, the issue about allowing states to
levy one per cent additional tax and the Centre agreeing to compensate states for revenue loss for five years. The
Congress filed a dissent note on eight provisions, including composition of the GST council and the proposal to
allow states to levy one per cent additional tax. There is also the issue of revenue neutral rate of tax (which has of
course not been dealt with by the committee) which merits discussion here.
First, let us take the one per cent additional levy which is not to be given credit. This is the one which is most
resented by traders and manufacturers. But there are certain redeeming features as well. This was earlier
proposed, at the insistence of states, that even stock transfers of goods of a company's transfer goods from
godown to another of their own and that would not attract one per cent.
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That was the view of the Centre. Now, the select committee has confirmed this view that it is not leviable on the
stock transfers. It will immensely benefit trade and industry. Secondly, this one per cent is less than the four per
cent which was being charged earlier. So, it is a better deal. Lastly, it may be discontinued if the revenue
collection is buoyant and it depends on the GST council where two-third majority will decide the issue.
The second issue is about the compensation of states for five years to the extent of 100 per cent of the loss. The
Centre's agreeing to the states' demand for 100 per cent for five years has been a master -stroke. In fact, this will
not be necessary for five years at all. In all arguments of the Centre as well as the expert committees on the
subject, it has been held that the revenue will increase substantially, if only for better compliance and trade
facilitation which will increase due to common market. If it is so, it is only theoretical that the compensation will
be 100 per cent for five years. The legend has it that you can make a promise which you do not have to keep.
The third issue is about the revenue neutral rate. Some economic analysts are of the view that if the three items alcohol, tobacco and petroleum - are included, then the neutral rate of 27 per cent may come down probably to
18 per cent. Actually, this is not a logical proposition. It can come down only if the average duty of these three
items is less than 27 per cent. It is just the opposite of it. These three are highly taxed items. Cigarette is very
highly taxed, both, by the Centre and the states. The rate comes to more than 100 per cent easily. Similar is the
case of alcohol. And it varies from state to state. Petroleum is also a very heavily taxed item like the others. The
average tax, whether we take median or plain average, which is the neutral rate for these three items, is much
higher than the average rate for other goods in respect of central excise, service tax and sales tax.
So, if these three are included in GST, there is no chance at all that the revenue neutral rate will come down.
Some expert committees, in the past, have recommended just 18 per cent, but they never calcul ated in great
detail, as would have been done by the National Institute of Public Finance. If there is a political decision to
reduce it to 18 per cent or 20 per cent that will be arbitrary and there will be serious revenue short fall. One has
to remember, also, that even if these three items are included in GST, then also there will be a separate rate far
higher than the general rate.
With these three items, there will be four rates. There are good reasons for including them for expanding the tax base but not for bringing the general rate down.
Modi reviews issues relted to

sugar sector at high-level meeting
Taking note of the current supply-demand issues with regard to sugar, Prime Minister Narendra Modi has called
for assiduous efforts to increase ethanol blending of fuel.
At a high level meeting to review issues related to the sugar sector here yesterday, he also called for exploring all
possibilities for export of sugar.
Mr Modi also reviewed the progress with regard to the Rs. 6000 crore incentive package approved by the Union
Government in June 2015. He emphasized that the farmers' interest be kept foremost at all times, and issues
related to sugar sector be monitored regularly.
Long-term measures with regard to the sector were also discussed at the meeting, an official press release said.
Union Ministers Arun Jaitley, Radha Mohan Singh, Ram Vilas Paswan, Nirmala Sitharaman and Sanjeev Kumar
Balyan were present at the meeting.
Senior officers from the Ministries of Agriculture, Food and Consumer Affairs, Finance, Commerce, External
Affairs, Petroleum and Natural Gas, besides NITI Aayog and the Prime Minister's Office also attended the
meeting, it added.
Pradhan meets Samsung officials

igniting expectations that LNG
transport ships
A senior delegation of Samsung Shipyard met Minister of State (Independent Charge) for Petroleum & Natural
Gas Dharmendra Pradhan, igniting expectations that LNG transport ships will soon be built in India.
GAIL has been insisting that foreign builders build at least a third of the 11 LNG carriers it plans to charter for 20
years from the beginning of 2017 to transport LNG from the US to India.
The companys initial tender in February had failed, but the Centre took up the matter with Korean officials and
Samsung Shipyard signed a pact with Cochin Shipyard, Pradhan had informed the Rajya Sabha in May
Fall in LPG cylinder prices come as

relief for buyers
For the eighth time this year, the price of the non-subsidised cooking gas (LPG) has come down, bringing a huge
relief to domestic consumers.
On Friday night, the price of LPG was cut by Rs.23.50 for a 14.2 kg cylinder bringing the price to Rs.603.50 in
Chennai. There has been a steady decrease in the cost of non-subsidised LPG since January this year. LPG prices
are revised every month.
There are 1.54 crore LPG consumers in the State and 31 lakh consumers in Chennai, Tiruvallur and
Kancheepuram districts belonging to Indian Oil Corporation, Hindustan Petroleum Corporation and Bharat
Petroleum Corporation.
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Anuradha. of Anna Nagar, said: I am glad that the price has dipped again. I hope the price will continue to be
affordable.
Consumers however say that this will not have much of an impact on the household budget since prices of
provisions, vegetables and fruits have not come down. Mogappair resident S. Meenakshi Annie, who is delighted
to note the downward trend in prices of LPG, petrol and diesel said that the government must ensure that the
benefit of fall in diesel prices must reach the end customer.
The family budget only keeps increasing every month, she said. From Friday midnight a litre of diesel would cost
Rs. 47.30. On July 16, it was revised to Rs. 51.08. Similarly, petrol now costs Rs. 64.77 a litre. It was Rs. 67.29 a
litre last month.
Though consumers are delighted with the downward trend, consumer activists say many people do not realise
the fluctuating price of cooking gas every month because of the additional amount that they pay to the delivery
personnel.
S. Mohan Ram, president of Thiruninravur Consumer Council said: The price may always go up. The delivery staff
members demand for Rs.40 to Rs.60 to deliver cylinders. We have been asking that gas agencies to pay fair
salary to staff members. They must install boards asking consumers n ot to pay more than the bill amount and
provide complaint numbers.
Piped natural gas connection

launched in SN Puram
After a long break, the Bhagyanagar Gas Limited (BGL) launched its Piped Natural Gas (PNG) connections in the
city at Satyanarayanapuram on Sunday. Collector Babu A visited the residence of Mr and Mrs. Ch. Siva, who
obtained the PNG connection and complimented them for opting for the new gas supply mechanism.
BGL had launched PNG connections here a few years ago and had nearly 200 consumers in Ajitsingh Nagar and
neighbouring areas. The PNG supply gets metered just the way it is being done for water and electricity. From the
mainline, a separate pipeline enters the kitchen and a gas metre is installed, initial reading is noted down and
billing is done based on the consumption. It is safe, eco-friendly and people should opt for the PNG connections
ensure 24 hour gas supply. Vijayawada should be transformed into a smart gas pipeline city, said Mr. Babu.
After introducing the facility in Ajitsingh Nagar, the project faced hit roadblocks. Officials had to obtain clearances
from Railways for laying pipelines near Ajitsingh Nagar railway track, besides permission from Irrigation
department for digging ground at Eluru and Budameru canals.
The BGL officials claimed that pipelines were laid from Pamula Kaluva to Mogalrajpuram. The connections would
be available in Mutyalampadu, S.N.Puram, Bhavajipeta, Lakshminagar, Hanumanpeta, Devinagar, Ramakrishna
Nagar and other areas very shortly.
73% of rural Bihar use kerosene

for lighting
NEW DELHI: For all the subsidy flowing towards selling kerosene through the public distribution system, it now
emerges that the fuel is hardly being used in kitchens across India - in towns as well as villages - but remains a
key source for lighting lamps and lanterns in rural areas, which either lack power connections or don't get
adequate supply.
The latest survey released by the National Sample Survey Organization (NSSO) has revealed that in rural areas,
subsidized kerosene was used in less than 1% of kitchens, which relied largely on firewood and chips as the
primary source of energy for cooking during 2011-12. After firewood (67% share), cooking gas cylinders have
emerged as the second most preferred kitchen fuel in rural areas, with a share of 15%. In urban areas, of course,
they now fire over 68% of the stoves, while the share of kerosene is estimated at 5.7%, lower than firewood
(14%).
But when it comes to lighting homes in villages, the share of kerosene is estimated at 26.5%, with electricity's
share estimated at 72.7%. In urban India, 3.2% of households uses kerosene for lighting while the share of
electricity is 96%.
The data points to what several economists have argued for years: there is reduced dependence on kerosene
despite the government doling out subsidized fuel, which is suspected to be used in large quantities for
adulteration or finds its way into the open market, where there is no subsidy.
Currently, the government pays Rs 18.51 as subsidy for every litre of kerosene sold through the public
distribution system. The under-recovery on the sale of kitchen fuel by the oil marketing companies added up to
Rs 24,800 crore during the last financial year, with the government taking over around Rs 5,000 crore of the
burden and forcing the state-run companies to bear the additional burden.
The government has been talking of reforming the subsidy delivery mechanism for several years and is
contemplating extending the direct benefit transfer scheme to kerosene to check leakages.
But the findings of the NSSO survey showed wide divergence in fuel used across states with those such as Bihar
and Uttar Pradesh still relying on dung cake and firewood to a large extent. The use of firewood and chips for
cooking has declined but slowly over the years in rural India. It declined from 78.2% of all rural households in
1993-94 to 67.3% in 2011-12. LPG use in rural households has grown relatively fast, from fewer than 2% of rural
households two decades ago to 15% in 2011-12.
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Cow-dung cake remained one of the major fuels for cooking for rural households in Uttar Pradesh (33.4%)
followed by Punjab (30.3%), Haryana (24%) and Bihar (20.8%).
Tamil Nadu had the highest use of LPG among rural households, with over a third using it for cooking, followed by
Kerala and Punjab. The use of LPG was least in Chhattisgarh (1.5%) followed by Jharkhand (2.9%) and Odisha
(3.9%).
When it comes to lighting, 73.5% of rural households in Bihar still use kerosene as primary source of energy for
lighting, followed by Uttar Pradesh (58.5%) and Assam (36.8%).
Bihar also tops the chart when it comes to use of kerosene for lighting in urban areas with 17.2% of households
still depending on kerosene. Followed by Bihar were Uttar Pradesh (10.8%), Assam (7.9%), Gujarat (5.2%) and
West Bengal (5%).
However, over the past decade, the proportion of households using kerosene to light their houses has halved in
rural India.
The use of electricity was the highest in rural Andhra Pradesh, Punjab, Tamil Nadu and Kerala, where nearly all
rural households used electricity to light their homes. In contrast, just 25.8% of rural Bihar and 40.4% of rural
Uttar Pradesh households had electricity.
Coimbatoreans get to breathe

some clean air
If a recent survey is to go by, the quality of air in Coimbatore has improved in the last two years, despite the rapid
growth and development. The survey conducted by the Union ministry of environment, forest and clim ate that
includes the Tamil Nadu Pollution Control Board (TNPCB), says that particulate matter in the air has come down
in 2013 and 2014 when compared to 2012. CT talks to environmentalists in the city to find out what needs to be
done to breathe easier.
Mohammad Saleem of Environment Conservation Group says that its time this data is made accessible to the
public. "Air quality should be monitored 24/7 and both during day and night, using the latest equipment. Now
that we are all set to become a smart city, it's essential that quality of air and water improves and the public plays
an active role in it.
Right from students, environmentalists, homemakers, authorities to the general public, all of us should take up
the responsibility of the environment. With some effective authorities at the helm of affairs in the district, who are
passionate towards environment, and a little bit of help from the public, Coimbatore can go a long way in
becoming a model city."
Environmentalist K Mohanraj says that a clearer picture would be out if they monitor the number of people
suffering from air-borne diseases in the city. "Health and scientific data are vital to compare the levels of pollution
in different time periods. A case in point is the tremendous rise in people suffering from respiratory ailments
when the Mettupalayam Road was being widened.
There were many who suffered from eye problems as well. Though I have not gone through the data myself, I
believe one of the reasons could be the shifting of foundries to the outskirts of the city that were the major
polluters almost a decade ago."
According to Coimbatore Nature Society president PR Selvaraj, the public can go a long way in contributing to the
improvement in air quality. "All one has to do is plant some shrubs in their locality, if not a tree. If we leave a little
bit of space for the earth for greenery, and not a complete concrete jungle, it can improve the quality of air.
Herbal garden and solid waste management can contribute to the cause as well."
Mohanraj doles out a few suggestions. "People can try using the public transport as much as possible, or pedal
away or go on foot to places nearby. The number of vehicles on the road has increased drastically and it's time
their pollution emissions are monitored strictly.
Quality of the vehicles plays a crucial role in preventing drastic damage to the environment. Coimbatore can also
follow the Delhi model of CNG (compressed natural gas) -powered public transport." Mohammad Saleem says it's
time the public took onus of the environment. "They have to raise their voice when an issue comes up. Even if
they cannot plant trees, they should speak up when they see a tree being cut down or plastic being burnt."
Ved Prakash Mahawar takes over

as Director (Onshore), ONGC
Mr. Ved Prakash Mahawar took over as Director (Onshore) of the public sector Oil and Natural Gas Corporation
(ONGC) here yesterday.
As Director (Onshore), a board level position, he will be directly looking after all the onshore operations spread
across the country which significantly contribute towards ONGCs overall physical performance.
A press release from the company said Mr. Mahawar has 33 years of vast experience of managing drilling and
operational functions, having held various key positions across the vast spectrum of oil field activities.
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Prior to his joining the present assignment, he served as Officer on Special Duty (OSD) (Onshore) in Delhi for
some time before which he was heading Tripura Asset of ONGC as Executive Director-Asset Manager.
Mr. Mahawar also pioneered the critical Well Control expertise for ONGC. A veteran of numerous blow-out control
jobs with proven experience in handling complicated well control problems in onshore and offshore fields of
ONGC, OVL & other operators in India, he has been the major force and face of the Crisis Management Team
(CMT) making ONGC self-reliant in dealing with well control situations.
He was also instrumental in establishing the Well Control School at Institute of Drilling Technology (IDT ),
Dehradun, which has been imparting training to ONGC employees and oil personnel from other Indian as well
foreign oil companies.
A mechanical engineering graduate from Pandit Ravi Shankar Shukla University, Raipur Mr. Mahawar started his
career with ONGC as Drilling Engineer in 1982 and is known as the first sub-sea engineer of ONGC.
Sudhir Sharma takes over as

Director (Exploration), ONGC
Videsh
Mr. Sudhir Sharma has taken over as the Director (Exploration) in the Board of ONGC Videsh, a wholly own ed
subsidiary and the overseas arm of the public sector Oil & Natural Gas Corporation (ONGC).
A press release from ONGC said Mr Sharma had more than three decades of experience in various domestic and
overseas capacities.
He was most recently the Country Manager and Legal Representative for ONGC Videsh's Colombia operations for
over a year. Earlier, as Head of Business Development in ONGC Videsh, he managed the global business
development activity of the company with the objective to acquire oil and gas assets overseas. This was his
second stint with ONGC Videsh.
In 2003, consequent upon the acquisition of a stake in Sudan, Mr. Sharma led two Exploration Blocks,
comprising multi-disciplinary, multi-nationality teams, in the GNPOC contract acreage. During his tenure,
exploration for deeper objects and basement was initiated for the first time in Muglad Basin.
He started his career in 1980 when he joined ONGCs prestigious Institute of Petroleum Exploration in Dehradun
as a graduate trainee after obtaining a Masters degree in Geology from Lucknow University. He pursued higher
studies leading to M.Tech in Petroleum Exploration from Indian School of Mines, Dhanbad during 1983-1984.
Prabhat Kumar Singh has been

appointed the new Managing
Director and CEO of Petronet LNG
Ltd.
An engineering graduate from the prestigious Indian Institute of Technology (IIT), Kanpur, Prabhat has more than
35 years of experience in Hydrocarbon Industry, both in MNC as well as premium Indian Public Sector
Undertakings.
He is a versatile professional having diverse exposure of Management, Execution of Projects (from concept to
commissioning), Exploration and Production, Business Planning & Marketing, Training, Organizational Reforms
etc. Prabhat is Director (Marketing) in GAIL, and also headed the Upstream Business Development and Strategy
Divisions in British Gas (India).
Prabhat remarkably contributed in the planning and execution of world's longest exclusive LPG pipeline from
Jamnagar to Loni. The project was recognized by the Asian Development Bank as the "Best Managed Project" of
the year.
He conceptualised and introduced the "Open Access Common Carrier Principle" first time in India, which made
paradigm shift in transforming the hydrocarbon industry in the country.
He also successfully led a human resource centred change management which put "people at the heart of
corporate purpose" to address the dynamic business environment. Prabhat spearheaded a lot of initiatives in
hydrocarbon value chain including term LNG deals and commission of Ratnagiri Gas and Power Private Limited
(RGPPL, Dabhol) LNG terminal in order to ensure energy security for India
He is active on other fronts including the member of the various sub-committees of the apex body of the country
committed for development of Oil and Gas sector in India including National Auto Fuel Policy. He is a renowned
figure as a key note speaker in various Oil and Gas Conferences in India and abroad and presented papers in
International/ National forums.
Cylinder thief held at Mumbai's

Charkop
MUMBAI: A man was arrested for stealing LPG cylinders from several housing societies in Kandivali West. Police
said the accused had been selling the cylinders in the black market for a higher price. Ten stolen cylinders were
recovered from him.
Ramesh Patel, the accused, resides in Charkop. He would steal gas cylinders when the occupants of the house
were away. "Patel would stroll in residential areas to look for easy targets. He would usually select such houses
where women had stepped out for a chat with their neighbours and left the door open in the afternoon," said an
official.
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Patel would enter the house, disconnect the gas connection, hoist the cylinder on his shoulders and flee.
In a recent case from Charkop, Patel was captured on camera while he was fleeing with a stolen gas cylinder. The
footage helped the cops to nab Patel. The police are now probing whether Patel worked alone or if he had any
accomplices.
Cops impound 150 Ola cabs after

HC ban on diesel taxis
NEW DELHI: Traffic police impounded 150 cabs affiliated to Ola in a weekend crackdown following the high
court's ban on use of diesel vehicles by app-based taxi services. The cabs were caught after Ola drivers
responded to ride requests booked by traffic cops from various locations in the city.
Sharad Aggarwal, additional commissioner (traffic), said the vehicles were impounded on charges of flouting
permit conditions. A court challan was also issued to the drivers for disobeying norms mentioned in their permits.
None of the vehicle prosecuted since Saturday were found to be plying on CNG.
Officers say these cabs were registered as tourist vehicles with all-India permits. They did not have the permit for
rides within the city. Vehicles heading to Gurgaon or Noida could not be prosecuted on these grounds.
"We have complied with the order to ban on diesel cabs run by a particular company which has no authority to
run app-based cab services in Delhi," said Aggarwal.
Ola's competitor Uber was exempted from the crack down due to a high court stay order.
Officials estimate that more than 8,000 diesel vehicles were plying in the NCR through app-based taxi services.
For some time now, cops have been placing ride requests to book these cabs for various offences. Officials said
the cab drivers had become wise to the tactic and started avoiding areas from where cops were likely to call.
Most calls by the police are made from busy markets and south Delhi localities but the drivers had mostly started
operating in parts of northwest and outer Delhi.
Traffic policemen have also been asked to look out for vehicles having DLY numbers and check their
registrations. Passengers in a cab might also be asked how they had booked the taxi. Police officers said Ola has
been warned against plying these cabs and action against the company under Section 188 IPC (disobedience of
orders) would be initiated if the service is not stopped.
Police sources say that the seized cabs were being parked at temporary pits outside the usual traffic pits as all of
them are brimming with vehicles impounded in keeping with the NGT ban on heavy vehicles. The 50 traffic police
pits together have a capacity of around 9000 vehicles.
"We have asked the DDA to grant us space for new traffic pits, but the request is still being processed," said a
police officer.
NE Future, Oil & Natural Gas
The recent observation of experts that Mizoram is sitting on oil and natural gas reserves has only affirmed the
belief that of the Northeast taken together is not only a region that has extracted monetary benefits from a
benevolent Centre but also an area that could spur the collective developmental engine of the sub -continent.
The future of Northeastern States like Mizoram and Nagaland look bright if the current process of both extraction
and exploration are executed in accordance with the developmental paradigms envisaged by the people of the
regions themselves adjusting to the national and international trends.
Realizing this potential, the Geology and Mineral Resources Department Director H Lallenmawia stated that
exploration activities by different national and international agencies are spread around 58.9 per cent of
Mizorams total area.
Both ONGC and IOC together were already in the thick of extraction activity in around 5,340 square km ar ea. The
rest of the area has been shared between OIL, Suntera Resources Ltd, Shiv-Vani Oil Exploration, Naftogaz India
Private Ltd, Reliance Energy Ltd, Reliance Natural Resources Ltd and Geopetrol International Inc. (French).
According to Lallenmawia, under the New Exploration Licencing Policy, Mizoram would get 12.5 per cent of
wellhead price on crude oil and 10 per cent of wellhead price on natural gas as royalty.
The wellhead price is the wholesale price natural gas at their time of production, he informed.
The state will get 50 per cent share of the non-tax revenue against the production of oil and natural gas and the
non-tax revenue is the recurring income earned by the Government from sources other than taxes.
In Nagaland too oil exploration resumed after a gap of almost two decades in July 2014 in Wokha District. The
resumption was launched by Nagaland Chief Minister TR Zeliang.
The Metropolitan Oil and Gas Private Limited had been awarded the licence to explore 20 million tonnes of
hydrocarbon reserves in Wokha District, bordering Assam.
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However, it may be recalled ONGC had been asked to stop its operations in May 1994 after it began oil
production in 1981.
ONGC had begun oil explorations in the Wokha Lower Range Region in 1973.
ONGC had estimated that Changpang Village in Wokha District alone had 20 million tonnes of hydrocarbon
reserves.
Between 1973 and 1994, it is estimated that ONGC had extracted 1.5 million tonnes of oil during trial production
but only Rs.33 crore was paid to the Nagaland government.
With the Narendra Modi led Government at the Centre attempting to push forth its Act East Policy in the region, it
was time for the Government of India to rethink its strategy as partners in development with the region and n ot
just a benign big brother who loves to control all national assets.
Exxon and Chevron may soon see

European sights
Exxon Mobil and Chevron may soon be seeing European sights. The two US oil giants, with a combined market
value of $500 billion, experienced even bigger drops in profit than were expected in the second quarter, pushing
dividend yields closer to those of rivals across the Atlantic. Shell and BP have been more aggressive on cutting
capital expenditures and jobs. If prices tumble further, Exxon and others could follow.
Before the precipitous profit declines of about 50 per cent and 90 per cent reported on Friday, respectively,
Exxon and Chevron had dividend yields of 3.5 per cent and 5.6 per cent. By contrast, Shell and BP's London -listed
shares both yield well over six per cent.
Of the four companies, only BP came close to offsetting the quarter's shareholder payouts and spending on big
projects with cash from operations. With Shell pursuing a $70 billion deal for natural gas producer BG Group, and
smaller UK rival, BP, only just working out the final toll from its 2010 Gulf of Mexico oil spill, investors arguably
have good reason to feel more confident that their US counterparts will be better situated to find ways to keep
dividends flowing.
And yet the European companies also have done more to prepare for a potentially extended slump in the price of
oil. Shell is slashing 6,500 jobs and axing $3.5 billion more from an already-shrunken 2015 capital spending
budget. Overall spending will be 20 per cent lower than last year. Exxon and Chevron plan to invest only about 13
per cent less, similar to what BP was planning - before announcing another small cut to its capex guidance this
week.
The drop in both Exxon's and Chevron's share prices on Friday, and the subsequent rises in their dividend yields,
suggests a more European approach would be welcome. The price of Brent crude has fallen another 18 per cent
since July 1. More cost savings may well be necessary. Diversified operations and strong balance sheets provide
many levers for Exxon and its US peers to preserve their coveted dividends. It may be time to start pulling them.
Algeria boosts oil output by

32,000 bpd with two new fields
OPEC member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two
fields, an energy ministry official said on Sunday.
Production increased on Saturday when the Bir Sebaa field started producing 20,000 bpd in addition to 12,000
bpd from the Bir Msana field in Hassi Messaoud area, the official told Reuters.
Algeria produced an average 1.1 million bpd in July, according to a Reuters survey.
It has struggled to draw foreign oil investment to increase output that has stagnated over the past years,
awarding only 4 out of 31 blocks on offer in a bidding round in September 2014.
State energy firm Sonatrach has said it would stick to a plan to invest $90 billion over the next five years despite
a crude oil price slump on global markets.
Algeria relies on energy for 60 percent of its budget, and oil and gas exports account for 95 percent of total sales
abroad.
Sonatrach holds 25 percent stake, Thailand's PTTEP 35 percent and Petrovietnam 40 percent in the Bir Sebaa
field, where reserves are estimated at 758 million barrels.
Sonatrach owns 25 percent stake, Malaysia's Petronas holds 35 percent and Spain's Cepsa 40 percent in the Bir
Msana field, whose reserves are at 144 million barrels.
Adriatic oil, gas exploration raises

concerns for Croatia tourism
NJIVICE, Croatia -- As Croatia gears up for exploration of oil and gas in the Adriatic sea, green groups have raised
concerns about the environment and economy of the tourism-dependant country's islands and pristine coastline.
The government in September is set to sign contracts with two energy groups which have been granted the right
to explore and drill for oil and gas in the Adriatic for a period of up to 30 years.
"It is a very important project for Croatia," Barbara Doric, head of the hydrocarbon agency told AFP.
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By exploiting additional resources "which we assume we have in the Adriatic, it will enable the country to become
energy independent and, when it comes to gas, even to become an exporter," she said.
Two licenses have been awarded to the INA oil group jointly owned by the Croatian state and Hungary's MOL
and one to Italy's ENI and MEDOILGAS.
The government is aiming for the project to give a much-needed boost to Croatia's economy, which has been
mired in recession since 2008.
Officials estimate that direct benefits for the state budget could eventually reach around one billion euros net
profit (US$1.1 billion) annually. Indirect positive effects, such as development of supporting industries or creating
new jobs in a country where unemployment stands at 20 percent, should also result from the exploration.
"The domino effect could be really strong," Doric said.
"Calculations of potential impact on the country's gross domestic product (GDP) show it could be 3 to 4 percent,
which is a lot."
But ever since the project was launched it has sparked strong criticism from local and international groups
concerned about the environment as well as the economy. Many Croatians fear it could seriously harm the
Balkan country's valuable tourism industry.
Tourism, which has gradually recovered since the former Yugoslav republic's 1990s independence war, accounts
for around 20 percent of Croatia's GDP. Those who oppose the drilling claim the risks far outweigh the possible
benefits.
'Russian roulette'
"It's impossible to implement this project without very serious damage to both the environment and the local
economy (which is) based on tourism and the fishing industry," Vjeran Pirsic, head of the environmental group
Eko Kvarner, told AFP.
Rosnefts $1 Billion Siberia

Partner Backed by Chinese
Investors
Skyland Petroleum Group is registered in the Cayman Islands, has a staff of about 30 and an operating history of
nine months. It also has a Siberian deal with international oil giants OAO Rosneft and BP Plc that could be worth
as much as $1.1 billion.
Skylands backers are private investors from China and elsewhere in east Asia, founder and president, Briton
David Robson, said in an interview last week. He declined to name them.
Rosneft hailed Skylands extensive experience when it announced the deal in June. BP, which will have a 20
percent stake in the project, said the choice of additional partners was up to Rosneft, according to spokesman
Vladimir Buyanov.
The three partners will develop the Taas-Yuryakh project, an oil-and-gas-condensate field in Yakutia, one of the
biggest oil fields in eastern Siberia thats still largely untapped. Total production could reach more than 5 million
tons of oil per year or 100,000 barrels per day after 2017, according to Rosneft.
Skyland may take a stake of as much as 29 percent in Taas-Yuryakh, with a possible value of $1.1 billion,
Robson said. Skyland could limit its investment to 10 percent, which Robson valued at $375 million.
Chinese Investment
Chinese investors have long sought equity stakes in Russias oil fields, but the Russian government has for years
been cautious about giving up control. Recently, pressured by international sanctions and plunging oil prices,
Russian officials have signaled more openness to its Asian neighbor. With the risks of working in Russia high,
Chinese companies are showing caution.
Rosneft first offered a 49 percent stake in the Taas-Yuryakh project to China National Petroleum Corp. back in
2013, but the deal didnt happen.
Last year, Rosneft pitched CNPC on a 10 percent stake in another field, Vankor, but no agreement has been
reached.
Robson, 57, said his investors arent state companies and declined to provide more details. Before Skyland, he
served as head of several energy companies listed in London and operating in the former Soviet Union, including
Tethys Petroleum Ltd.
I have worked with Rosneft since the early 1990s, I have worked in China since 1998, Robson said in a phone
interview from Guernsey. Discussions with Rosneft and my friends in Russia and of course my contacts in China
-- the two things began to blend together.
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Conservative, Aggressive
Robson said that while Chinese state companies have become more conservative in the last year, private
investors can be much more aggressive and prepared to take steps in places like Russia.
Skyland plans to complete the Taas deal by year-end, Robson said.
Taas-Yuryakh operates the Srednebotuobinskoye oil and gas condensate field in Yakutia and holds 133 million
tons of liquid hydrocarbons and 137 billion cubic meters of gas reserves.
Brazil: ANP launches 13th bidding

round for oil and natural gas
blocks
The Brazilian Agency for Petroleum, Natural Gas and Biofuels (ANP) has launched a public consultation on drafts
of the tender protocol and the concession agreement for the 13th bidding round for the exploration and
production of oil and natural gas blocks in Brazil. A public hearing was held on July 9 2015. Final versions of the
bidding round documents are expected to be issued by August 6 2015.
13th bidding round
Oil and gas players have welcomed this new bidding round in the aftermath of concerns regarding the credibility
of state-owned company Petrobras. The round will offer 266 onshore and offshore blocks, which will be
distributed in 10 sedimentary basins (ie, Amazonas, Parnaiba, Potiguar, Reconcavo, Sergipe -Alagoas, Jacuipe,
Camamu-Almada, Espirito Santo, Campos and Pelotas). It will offer a mix of high potential areas, new exploitation
frontiers and mature basins, creating opportunities for small, medium and large companies.
The 13th bidding round will be held under the concession model. Until the enactment of the pre-salt bills in
2010, this was the only regime available under Brazilian law. Under this regime, the winning bidder for an
exploration and production block has the right to explore and produce in the block, and becomes the owner of
any extracted oil or gas, subject to royalties.
The significant opportunities available in the pre-salt area led to the enactment of a new regime, which is applied
solely in this area. Instead of concessions, the pre-salt area must be explored using production sharing contracts
(PSCs), under which oil companies and the federal government split the resulting production according to
contracted terms.
Oil companies may have an increased interest in this latest round, given that no PSC bids are expected. Congress
is reviewing an important debate concerning the PSC regime (Bill 131/2015, proposed by Senator Jose Serra),
which may change Petrobras's role as the sole operator in the pre-salt area.
However, unless this amendment to the legislation is passed, Petrobras will continue to be responsible for at
least 30% of the investments in any pre-salt block. Considering Petrobras's financial situation, it is unlikely that
new PSC rounds will take place before the company invests the substantial amounts required for this area.
Therefore, the only ways to acquire new exploration and production blocks in Brazil are through:
the assignments of rights, via farm-in/farm-out agreements; or
the acquisition of rights in concession bidding rounds.
During the consultation period for the 13th bidding round, the local content requirements were criticised by
representatives of oil and gas companies. The requirements oblige concessionaires to contract services and
equipment from Brazilian providers, subject to heavy penalties for non-compliance. Under the preliminary bid
protocol, minimum local content requirements range from 37% (exploration phase) to 55% (production
development phase) for offshore blocks, and from 70% (exploration phase) to 77% (development phase) for
onshore blocks.
According to feedback received by ANP, the oil and gas market is subject to fluctuations that make committing to
a long-term local content level an inefficient and costly requirement. The players involved have also challenged
the convenience of having minimum local content levels for practically the entire supply chain, instead of
focusing on items in which Brazil is more competitive. Finally, oil and gas companies have observed that the local
content requirement during the development phase is unreasonable, as production development may not occur if
the exploration phase demonstrates that commercial production is unfeasible.
ENOC secures support for Dragon

Oil takeover with improved offer
Dragon Oil plc, collectively with its subsidiaries, is engaged in upstream gas and oil exploration, development and
manufacturing actions primarily in Turkmenistan.
Dubai-based ENOC, which owns 54 percent of Dragon Oil, needed acceptance from another 23 percent of the
companys shareholders for the takeover to go through. The three largest minority shareholders Baillie Gifford,
an Edinburgh investment firm, Setanta Asset Management of Dublin, and Elliott Advisers, a UK arm of New York
billionaire hedge fund manager Paul Singer hold a total block of just over 16 per cent.
Enoc has set August 28th as the closing date for acceptance of the offer by holdout investors.
Enoc said on Friday that there was an additional 2.5 per cent of shareholders who accepted the offer but were
not officially counted because paperwork was faulty.
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Revenues at Dragon Oil rose to $1.1 billion last year, despite lower prices.
Earlier this month ENOC called for Dragon to scrap dividend payments to shareholders, saying that it wants to
sustain Dragons current levels of oil production. It had originally offer 735p a share in May. Enoc said in a
statement that they have now gained acceptances from 29.92 per cent of Dragon Oil shareholders and intend
to delist Dragon Oil from the London Stock Exchange and Irish Stock Exchange shortly. The company had said it
was targeting annual production growth of about 10 per cent or more this year at 100,000 barrels of oil per day.
ENOC declined to comment on the extension when contacted by the Irish Independent.
ENOC first approached Dragon about a possible acquisition of the stake it didnt already own in March, when it
put forward a possible offer of 650 pence a share before making a revised possible offer of 735 pence per share
in May.
Survey finds oil, gas in Maldives
Fisheries Minister shares information of the survey conducted to find gas, oil in Maldives with the media on
Saturday. PHOTO/ NISHAN ALI
A survey has shown evidence of oil or natural gas in the Maldives, Fisheries Minister Dr Mohamed Shainee said
Saturday.
Speaking to reporters after returning from Germany to collect the survey report conducted by a group from the
German University of Chamber Scientists, the Minister said although the survey proves the presence of liquid gas
it does not detail specifics.
The report did not investigate the amount of natural gas or whether it would yield economic benefit to the
Maldives, he added.
However, the Minister said the survey has highlighted several potential areas of oil or natural gas deposits.
An oil exploration vessel would arrive in the country which would shed more light into the new findings, Shainee
noted.
He said the survey did not investigate extraction options.
With the new discovery, the government would now expand the survey throughout the Maldives, he added.
According to the Minister, two companies from UK and Norway respectively have already expressed interest to
undertake the survey.
Such large corporations would not be interested if there wasnt any cause for optimism, he said.
A team would come to Maldives very soon to submit their proposals. Once they share their respective proposals
with the Economic Council, we will decide with whom we would move forward with, Minister added.
He also said the project will be awarded to one of the two companies very soon.
Minister Shainee said the German University had conducted the survey without any charge after mutually
agreeing with the government to keep the findings under wraps.
In addition, he accused some parties of using foreign environmental groups to stymie the survey.
But I dont want to point fingers at anyone specific, he stressed.
The Minister was also quick to warn that despite the findings, extracting the oil would be a difficult and an
expensive task.
During the survey, the scientists have also made some other discoveries which would be shared with the media
in due course, he told Haveeru.
Sudan to Export 150 Thousand of

Guar to United States of America
Khartoum - The Head of the Council of Guar commodity Badr Al Din Abu Zeid has told Sudan Vision yesterday that
Sudan has been nominated to close the world gap of guar commodity estimated at 200 thousand tons.
He said the United States needs 150 thousand tons of manufactured guar powder after it has excluded during
past few days the commodities of guar and sesame from the sanctions it imposed on Sudan.
Abu Zeid added that the council has exerted efforts and intensive meetings with the American Embassy to
Khartoum in the presence of the members of Guar Council for opening new markets for guar and for directly
exporting it to the United States of America,
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He affirmed that an agreement was concluded for overcoming the sanctions emanating from trade embargo last
June, noting that the American Embassy has expressed true desire for cooperating with productive companies
and extended an invitation to the guar council to visit America to get acquainted with the American experience in
guar cultivation and the machines used in harvesting and cultivation.
It is worth noting that the demand for Guar gum has risen considerably due to the strong demand from the oil
exploration industry.
Gum is used as an adhesive during oil exploration. It is also used by the food and textile industry.
Pakistan, Sudan and India are the only countries that produce Guar gum. Guar seed is the basic raw material that
is required for producing it.
The guar plant has been the source of the guar gum additive the food industry uses to thicken foods or keep
various ingredients smoothly mixed together. Its in everything from frozen pizza to ice cream, egg white
substitutes and baked goods.
A few years ago, the price peaked at about 35 times what the cost of the plant product was just a few years
earlier.
Shayne Heffernan Oil Price Report
OPEC oil output reached the highest monthly level in recent history in July a Reuters survey found on Friday as
Saudi Arabia and other key members show no sign of wavering in their focus on defending market share instead
of prices.
The latest boost from the Organization of the Petroleum Exporting Countries adds to excess supply in the market
without the significant rise in demand OPEC hopes will happen in the second half of the year and in 2016.
Saudi Arabia has kept output steady or higher than in June which was a record sources in the survey said as
Riyadh meets higher demand internationally and from domestic power plants and refineries.
Riyadh reported crude oil production of 10.6 million barrels a day in June in the monthly oil market report
published by OPEC. This is an increase of more than 200000 bpd on the previous month and its highest level
since records began.
If Saudi Arabia keeps increasing production at this rate it could by the end of the summer be the first country to
pump 11 million bpd of crude since the former Soviet Union.
Oil exports seem to be constant and what is now impacting income for Saudi Arabia is the decline in oil prices.
Brent is close to 50 a barrel now and seem to be hitting a plateau barring any material supply event commented
John Sfakianakis Middle East director at Ashmore Group.
Regardless of where total oil production is what would impact more fundamentally revenues would be total oil
exports he added.
Basil Al-Ghalayini CEO of BMG Financial Group said: Fluctuations of oil prices including the recent decline have
not really affected the Saudi governments commitment to mega infrastructure projects which are the driving
force of the local economy.
He added: The Saudi private sector relies to a large extent on government spending. Having said that the Saudi
stock market has been positively correlated to the these fluctuations.
Al-Ghalayini said: On the global level we are yet to see the outcome of certain decisions by Iran Russia and China
which may have a big impact on the pushing the prices even lower during the course of next year.
OPEC has upped production by more than 1.7 million bpd since it decided in November 2014 to defend market
share against rising output from rival producers. Oil prices have dropped more than 15 percent in July and halved
in the past year.
OPEC supply has risen in July to 32.01 million barrels per day (bpd) from a revised 31.87 million bpd in June
according to the survey based on shipping data and information from sources at oil companies OPEC and
consultants.
Some analysts say there are signs OPECs efforts to discourage growth in more expensive-to-develop rival supply
sources are bearing fruit.
We believe that oil prices should stabilize in the near future because we are confident that OPECs strategy will
pay off in the sense that non-OPEC production will slow said Eugen Weinberg of Commerzbank.
OPEC shows no sign of changing course despite the price drop. Secretary-General Abdullah Al-Badri on a visit to
Moscow dampened the prospect of output cuts.
If the total remains unrevised Julys supply would be OPECs highest since 2008 when oil prices hit a record 147
a barrel before collapsing and production was above 32 million bpd until Indonesia left the group at the end of
the year.
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Julys output from OPECs current 12 members is their highest since Reuters survey records began in 1997.
The biggest increase in July has come from Iraq one of the main drivers of the rise in OPEC output this year.
The only significant decline in output occurred in Libya where supply remained disrupted by unrest and
negotiations to reopen closed oil facilities had yet to succeed.
Demand for OPEC oil is expected to rise in the second half of the year as global consumption reaches its annual
peak.
In 2016 OPEC forecasts demand for its oil will be nearly 1 million bpd higher than in 2015 due to an increase in
world demand growth and a slowdown in supply growth from countries outside the group.
While Commerzbank said it was hopeful OPEC would agree to tighten supplies at its next gathering in December
some OPEC delegates are bracing for a difficult meeting as they see little appetite for cutbacks.
I believe the Saudis and Gulf states will stick to their strategy of market share said a delegate from outside the
Gulf. The next OPEC meeting will be hard and crucial for the organization.
Oil prices hit fresh multi-month low points last week, with no sign of an end to a global supply glut.
Metals, including gold and copper, stabilised after a recent rout fuelled by cracks in the Chinese economy.
OIL: Brent crude hit 52.28 a barrel on Tuesday, the lowest level since February 2.
The same day, New Yorks main contract dropped to 46.68 a barrel, the lowest point since Mar ch 24.
After briefly recovering, both contracts tumbled on Thursday after Abdullah El-Badri, secretary-general of the
Organisation of Petroleum Exporting Countries, said the group would not cut output in response to lower prices.
Speaking in Moscow after meeting Russias energy minister, he said the cartel is not ready to cut production,
which is currently at around 30mn bpd.
Analysts said the statement shows Opec is determined to defend its market share as it fends off competition
from US shale oil.
Opec is telling the market that cuts will not come from them, said Daniel Ang, an investment analyst with Phillip
Futures in Singapore.
Opec is emphasising that it is fighting for market share, he added.
At its most recent meeting in Vienna in June, Opec kept its output levels despite the supply glut that has
depressed oil prices.
Crude futures are under pressure also owing to the strength of the US currency, which makes dollar-priced oil
more expensive to holders of weaker units, dampening demand.
The dollar has picked up steam on expectations the Federal Reserve will raise US interest rates later this year.
The chances of a September lift were raised Thursday after data showed the US economy expanded 2.3% in the
April-June period, the strongest pace since the third quarter of 2014.
The second-quarter GDP data support the Feds more upbeat tone on economic conditions and suggests that
the economy could cope with higher interest rates, research firm Capital Economics said.
By Friday on Londons Intercontinental Exchange, Brent North Sea crude for delivery in September slid to 52.69 a
barrel from 54.42 a week earlier.
Russia, Algeria agree to boost

cooperation in oil, gas sectors
Russia and Algeria agreed to expand cooperation in the energy sector.

The move comes as contacts between Russia and other major oil and gas producers have intensified recently
against the backdrop of falling oil prices and general volatility in the market.
At present, there is a limited number of joint oil and gas projects between companies from the two countries, and
the two have agreed to intensify efforts to expand this cooperation, Russian energy minister Alexander Novak
said after a meeting of the Russia-Algeria intergovernmental commission in Moscow.
Russian companies, including oil and gas producers Gazprom Neft, Lukoil, Russneft, and Bashneft, are interested
in entering the Algerian market, he said, adding that Russia and Algeria have great potential to expand
collaboration in various sectors of the economy, including oil and gas, agriculture and transportation.
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Both Algeria and Russia are key suppliers of gas to Europe and members of the Gas Exporting Countries Forum, a
group of key gas producers, including Qatar and Iran, which collectively hold more than 70% of the worlds gas
reserves.
Algeria is also an OPEC member and aiming to boost its oil and gas production.
Thats why cooperation between Russian companies and Algerias Sonatrach has been developing historically,
Novak said, noting that Gazprom and Sonatrach reported an oil and gas discovery at the El Assel block in Algeria
in late 2014.
Russian Rosneft and Stroitransgaz are also continuing to work with Sonatrach on developing oil and gas reserves
within the Block 245 South, which includes two oil and one gas field, Novak said.
NO TALKS ON COORDINATED ACTION UPSTREAM
Novak said the parties did not touch on the issue of potential coordination on oil or gas markets to support prices
during the meeting of the intergovernmental commission, which is co-chaired by Algerian Finance Minister
Abderrahmane Benkhalfa.
Russia and Algeria intensified contacts at the end of last year, when oil prices were falling, with former Algerias
oil minister Youcef Yousfi repeatedly calling for OPEC and non-OPEC countries to meet in a bid to agree
coordinated action to boost oil prices.
Most recently, Algerias new oil minister Salah Khebri earlier this month said his country would be prepared to
make such a call if necessary given the sustained low oil prices.
OPEC General Secretary Abdalla el-Badri, though, said Thursday no OPEC member had asked for an extraordinary
ministerial meeting.
Asian crude buyers size up Iran

barrels
Asian oil buyers, already sucking in barrels from as far away as Alaska and Mexico, are anticipating more
bargains when Iran finally returns to world markets.
In a region thatll account for more than half the growth in global oil demand this year, refiners are poised to be
the winners as Iran raises overseas sales when Western sanctions are lifted. Irans oil minister has said he will
woo Asian customers and seize market share.
Processors including Hindustan Petroleum Corp in India and Taiwans Formosa Petrochemical Corp have
signalled they may buy more from Iran. Cheap oil has been a boon for many Asian nations, helping to cut budget
deficits by reducing fuel subsidies and boosting emergency crude stockpiles.
Irans deal could trigger another price war with Saudi Arabia, Iraq and the UAE, said Gordon Kwan, the Hong
Kong-based head of regional oil and gas research at Nomura Holdings. This is positive for Asian buyers like
China, now blessed with more pricing negotiation leverage.
Brent crude has fallen more than 50% since June 2014 as a global glut of oil triggered international competition,
led by Opecs increase in production to the highest level in almost three years.
Six world powers and Iran reached an agreement in July thatll be implemented if Tehran meets obligations to
curb its nuclear programme. Once inspectors verify compliance, it will be allowed to ramp up energy exports with
the gradual lifting of sanctions.
Formosa Petrochemical wants to restore supply from Iran to the full volume under its contract and will hold talks
soon with the Gulf country, spokesman Lin Keh-Yen said from Taipei on July 15, without giving details. JX
Nippon Oil & Energy Corp, Japans biggest refiner, sees the lifting of sanctions leading to stable supply and a
wider choice of crude, the company said in a statement.
Iran coming into the market will mean a further slide in oil prices and countries like India will be a major
beneficiary, Indian Oil Minister Dharmendra Pradhan said July 15.
Iran was the second-biggest producer in the Organisation of Petroleum Exporting Countries before its disputed
nuclear programme prompted the European Union to ban purchases of its crude in July 2012. Countries
including China, India and Japan had to get a waiver from the US to buy limited amounts of Iranian oil or risk
losing access to parts of the global financial system.
Iran is now the fourth-largest Opec member, with output in June averaging 2.85mn bpd, from 3.6mn at the end of
2011.
The measures forced buyers such as South Korea to reduce Iran oil imports from 2011 levels by almost half. To
help replace supplies, the North Asian country bought oil from Mexico for the first time in two decades and
purchased a cargo of Alaskan crude.
We will aggressively assess economic aspects to decide how much to import from Iran in the future, Chang Woo
Seock, head of the corporate planning office at SK Energy Co, a unit of SK Innovation Co, South Koreas biggest
refiner, said on July 23.
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While Iran has signalled it wants to boost shipments by as much as 500,000 bpd immediately after sanctions are
removed, Goldman Sachs Group predicts it will be limited initially to drawing down oil in floating storage. Iran may
be holding 53.7mn barrels of oil in ships at sea, according to Windward, a Tel Aviv-based vessel-tracker.
The nations main market is Asia, which will be its priority, Iran Oil Minister Bijan Namdar Zanganeh said in May.
Oil demand in the region will increase by 770,000 bpd in 2015 from a year earlier, accounting for more than half
of the growth in global consumption, according to the Paris-based International Energy Agency.
The Iran deal is good for the government, refiners and other customers as this will lead to competition among
producers, B Ashok, chairman of Indian Oil Corp, the countrys biggest refiner, said on July 15.
Countries may take advantage of lower prices brought on by an influx of Iranian crude to boost strategic reserves,
Victor Shum, vice president at IHS Inc, an Englewood, Colorado-based industry consultant, said by phone from
Singapore.
Big consumers like China and India in particular are likely to benefit, Shum said. Competition will intensify.
China moves to make the grade as

a setter of oil price
Talking about a 19th-century political dispute, the British prime minister Lord Palmerston said: Only three people
have ever understood the business one is dead, one has gone mad and I have forgotten.
His words seem equally fitting to describe the arcane technicalities of pricing crude oil. Yet the way oil is priced is
set for a major shake-up and the Arabian Gulfs leading oil exporters will be affected. It is in their grasp to
shape this change, or to be passive bystanders.
The change in crude pricing is led, as in so many other energy affairs these days, by Asias rising demand and,
in particular, the growing heft of China. In October 2014 and again in April this year, Chinese traders were
extremely active in buying up grades of Middle East crude that are used to set prices. They might have had valid
needs for the oil, but it is at least as likely that they wanted to support paper purely financial trading
positions.
International crude has long been priced by reference to three grades: West Texas Intermediate (WTI) from the
US, Brent from the UKs North Sea and Dubai. WTI and Brent are traded on regulated futures exchanges, making
the market transparent and highly liquid.
It has become increasingly clear, though, that these benchmarks have problems. Due to the expansion of US
shale oil production, and that countrys ban on exports, WTI has become a landlocked crude whose value is at
times well below that of comparable international crudes.
Production from Brent is declining, and more fields have to be added to the basket of valid supply sources, but it
is still vulnerable to squeezes by traders who can buy up cargoes to corner the market, and to random factors
such as bad weather, technical glitches, strikes and even anomalies of South Korean taxation.
Most importantly, both Brent and WTI are light, sweet (low sulphur) crudes, very different from the heavier, sour
(high sulphur) crudes produced in the Middle East that are now the dominant diet for Asian refineries.
The Dubai Mercantile Exchange (DME) has consequently positioned its Dubai-Oman crude contract as a possible
Middle East-Asian counterpart to Brent and WTI. But it has still not attracted the same levels of interest and
liquidity as its older rivals. Apart from Dubai and Oman, Middle East producers still price most of their crude using
opaque assessments of the market by specialist reporting agencies.
So now China has stepped forward. The Shanghai International Energy Exchange is launching its own crude oil
contract where the buyers, not the sellers, would be the key players.
Shanghais contract has major problems in particular, neither Kuwait nor Saudi Arabia have opted to support it,
and it is denominated not in dollars like the Brent, WTI and DME contracts, but in yuan (which is non-convertible,
and exposes traders to currency risk). Most of all, it will be dominated, at least at first, by the big Chinese traders,
notably Unipec (Sinopecs trading arm) and Chinaoil (the subsidiary of China National Petroleum Corporation).
Although the market is slowly opening up, few other companies have the right to import crude oil into Chin a.
Still, China is too big to ignore. And as a major buyer, its interest would naturally be in the direction of lower
prices. As recent stock market intervention suggests, it is hardly inconceivable that the Chinese government
would take an interest in a contract for such a strategic commodity.
The DME and Shanghai contracts are not incompatible indeed, the two exchanges have signed an agreement
to cooperate. But if Middle East countries, presumably with Opec as the key venue, do not decide a common
front on pricing their oil, they risk being picked off individually, and drawn inescapably into using the Chinese
exchange. On this esoteric formula rides billions of dollars.
Iran warns Opec it plans to

recapture market share
PetroMag
Irans oil minister warned fellow Opec members that it aims to recapture market share and plans to step up oil
output by 1 million barrels per day within months of sanctions being lifted, Iran state news organisations
reported yesterday.
27
The Iranian oil minister Bijan Zanganeh was repeating the bullish output assessment he has been making for
months. In June, for example, he said that Iran could increase production by 1 million bpd within seven months of
sanctions being lifted, bringing it back to its 2011 pre-sanctions level of 3.7 million bpd.
But the comments seemed to be aimed mainly at fellow members of Opec especially its de facto leader, Saudi
Arabia warning that in the current weak oil price environment the organisation will have to make room for Irans
increased output.
The state news agency Irna reported Mr Zanganehs output forecast, and that the minister added that Tehran
has informed Opec about its determination to regain its lost market share.
The showdown between Iran and Saudi Arabia within Opec may not be inevitable, however, as many analysts say
the ministers output forecast is too optimistic.
Wood Mackenzie, for example, expects that Iran could be pumping an additional 400,000 bpd by this time next
year, with another 200,000 bpd coming on in 2017.
Iran sees oil output up 1 mln bpd

after curbs end
Iran expects to raise oil output by 500,000 barrels per day (bpd) as soon as sanctions are lifted and by a million
bpd within months, Oil Minister Bijan Zanganeh said in remarks broadcast on Sunday.
"We are already doing marketing, and within a day after the lifting of sanctions we will raise (production) by
500,000 barrels per day," Zanganeh said.
He said Iran's crude production had fallen about one million bpd from about four million bpd under the sanctions,
state television reported.
"Within the next few months, we will return to the level of 3.8-3.9 million barrels," Zanganeh added.
"I have written a letter to OPEC saying that the sanctions are being lifted and that we are returni ng (to previous
production levels)," Zanganeh said.
"We are not asking anybody's permission to get our rights back."
According to a Reuters suvey of OPEC production, Iran produced 2.85 million bpd in July. The Reuters survey aims
to assess crude supply to market, defined to exclude movements to, but not sales from, storage.
A Reuters analyst said in July that Iran could increase its oil production by up to 1 million bpd within 12 months of
sanctions being lifted, provided it can find buyers for the crude.
Iran and six world powers reached a nuclear deal in July, capping more than a decade of negotiations.
Under the deal, sanctions imposed by the United States, European Union and United Nations would be lifted in
return for Iran agreeing long-term curbs on a nuclear programme that the West has suspected was aimed at
creating a nuclear bomb.
International sanctions imposed to force Iran to curb its nuclear program have halved its oil exports to just over 1
million bpd since 2012, and hammered its economy.
Russian oil production dips in July
Russian oil output fell to 10.65 million barrels per day (bpd) in July, down from 10.71 million bpd in June, falling
from post-Soviet highs maintained since March, Energy Ministry data showed on Sunday.
The fall was mostly due to lower condensate production at Gazprom, included in the oil figures, the data showed.
In July, Gazprom stopped units at its Surgut Gas Condensate Stabilization Plant for maintenance, according to
the Energy Ministry.
Russian production remained above that of Saudi Arabia, the world's top oil exporter and leading OPEC member,
which pumped at an average 10.6 million bpd, according to a Reuters survey.
Russia and OPEC have refrained from coming together to prop up crude prices, which have halved since last year
to around $52 per barrel. This week, OPEC indicated it would stick to its
policy of defending market share.
Russia has managed to keep oil output near its highs, despite low oil prices and western sanctions, thanks to the
weak rouble.
The Energy Ministry sees 2015 average oil production at 525 million to 527 million tonnes (10.5 million to 10.54
million bpd).
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In tonnes, oil output reached 45.033 million in July versus 43.824 million in June. Gazprom Neft, Gazprom's oil
arm, and Bashneft, now controlled by the state, slightly increased production, the data sho wed.
Russian gas production was at 44.77 billion cubic metres (bcm) last month, or 1.44 bcm a day, versus 42.58
bcm in June.
Will China join the IEA?
Lately, there has been renewed interest in energy governance, as large emerging economies s eek to grow their
influence in international organisations in order to better reflect their economic weight.
International governance of energy has changed little since the oil crises of the 1970s. As the oil producers
banded together to form OPEC, the International Energy Agency (IEA) was formed as the collective response of
energy consuming countries that were starved of oil. The IEA remains the most influential multilateral energy
organisation and provides a significant body of technical expertise.
There is pressure for the IEA to reform its membership to include the world's largest energy consumers neither
China nor India are members despite their significant energy needs. The G20 established principles on energy
cooperation in 2014 where leaders agreed to work together to make international energy institutions more
representative and inclusive of developing economies. The appointment of a new executive director of the IEA is
an opportunity to make this pledge and relations with emerging economies a top priority.
Broadening IEA membership is no easy task and would depend on treaty reform and decoupling OECD
membership from IEA membership. The advanced economies of the IEA want emerging economies in the
organisation to improve capacity to respond to energy crises and increase data sharing.
However, it is not clear if China and other emerging economies are ready to join the IEA. The Chinese Government
has not made IEA membership a top priority, although it has strong ties with the organisation. Ther e are some
who believe the future of energy governance is in Asian-focused organisations rather than the IEA, with its fixed
principles and institutional history. The IEA risks going through a series of complicated reforms only for
disgruntled members to be told that big players like China and India are not yet interested in membership.
A challenge for any new IEA members is the requirement to hold 90 days of oil stocks (a rule that Australia has
flouted). Also, the IEA's emphasis on coordinated emergency response encroaches on sovereignty over energy
resources, a sticking point for China.
What could the IEA do to convince China to join its ranks?
A regional IEA headquarters in Beijing is an idea that has been floated. Also, engagement with high -level Chinese
officials will be necessary to create supporters of the IEA within the Chinese Government. This will require
additional effort and resources from the IEA. China sees itself as having a special place in the world, and has no
qualms about asking for special conditions.
China's embrace of multilateralism is still at an early stage and its commitment to global public goods is
provisional. For example, in climate financing, China sees itself as a developing country that needs to be helped
by advanced economies. For many emerging economies, energy access will continue to trump climate change
action.
Energy remains a sensitive area of national interest and will test China's commitment to multilateralism.
Shells Japan Deal Signals Further

Refiner Consolidation
Idemitsu Kosan Co.s agreement to purchase most of Royal Dutch Shell Plcs stake in Showa Shell Sekiyu KK and
pursue a full merger may signal broader consolidation as Japans refiners confront declining demand.
Idemitsu Kosan on Thursday said it will pay about 169 billion yen ($1.36 billion) for a 33.24 percent stake in
Showa Shell. A full combination of the two would create a company with about a third of the domestic gasoline
market, putting it on par with JX Holdings Inc., the countrys largest refiner.
Oil demand in Japan has been declining as the nations population shrinks and as a shift to more energy -efficient
cars prompts refiners to lower output. The government, a backer of industry consolidation, has asked for cuts in
processing capacity as the U.S. boosts exports and new production redraws global gasoline and diesel trade
flows.
Japans refineries are facing a long-term structural decline in demand, and refinery margin trends have been
unstable, Norimasa Shinya, an analyst at Mizuho Securities Co., wrote in a July 30 note. The announcement
could trigger industry consolidation that could lead to a better operating environment for the domestic
refineries.
A surplus of providers is one of the biggest challenges facing Japans refinery industry, Takashi Tsukioka,
president of Idemitsu, said Thursday at a briefing.
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There is still room for further consolidation in the industry even after a merger between Idemitsu and Showa
Shell, Tsukioka said.
Tie-Up Talks
Idemitsu shares rose 1.9 percent to 2,281 yen at the close in Tokyo Friday. Showa Shell, which surged as much
as 13 percent on Thursday after the Nikkei reported Idemitsu would become its largest shareholder, closed down
0.4 percent to 1,165 yen.
By all accounts, some consolidation is already under way.
TonenGeneral Sekiyu K.K., Japans third-biggest refiner by revenue, agreed in December to link its Chiba refinery
with Cosmo Oil Co.s neighboring plant to increase production efficiency.
Cosmo Oil has held talks with other companies on possible partnerships for its Sakai and Yokkaichi refineries,
President Keizo Morikawa told reporter in May.
Idemitsu and Showa Shell first raised the possibility of a tie-up in December after the Nikkei newspaper reported
Idemitsu would acquire Showa Shell via a tender offer. On Thursday, the presidents of both companies repeated
several times that they want to merge their businesses based on a spirit of equals, though no details were
provided.
Refining Capacity
Demand for oil product is forecast to fall 6.8 percent by fiscal year 2019, the Ministry of Economy, Trade and
Industry said in an April draft report. The government has warned it isnt realistic for Japan with less competitive
refineries to make up for a decline in domestic demand by expanding exports of oil products in coming years.
U.S. petroleum product exports to Japan rose 13 percent in the first three months of this year, data from the
Energy Information Administration shows. Japanese refiners may be forced to cut about 10 percent, or 400,000
barrels a day, of the countrys total refining capacity by March 2017 to meet the governments rules, the trade
and industry ministry said in June 2014.
A merger of Idemitsu and Showa Shell would mean efficiency improvements in the use of raw materials and
semi-finished goods, streamlining of distribution and lower selling costs, Hidetoshi Shioda, an analyst at SMBC
Nikko Securities Inc., wrote in a July 30 note.
Idemitsu has three refineries with total capacity of 535,000 barrels a day, making it the third-biggest processor
by capacity in Japan after JX and TonenGeneral Sekiyu, according to data compiled by Bloomberg. Showa Shell
also owns three refineries with combined capacity of 445,000 barrels a day, according to the data.
OPEC Oil Production Falls as Iraqi

Output Slips From Record
OPEC crude output declined this month as Iraqi production slipped from a record in June.
Output by the Organization of Petroleum Exporting Countries decreased 362,000 barrels to 32.107 million a day
this month, according to a Bloomberg survey of oil companies, producers and analysts. Last months total was
revised 335,000 barrels higher, to 32.469 million a day, because of changes to the Saudi, Kuwaiti, Angolan and
Nigerian estimates.
Brent crude, the benchmark for more than half the worlds oil, relapsed into a bear market this week on
speculation that the global supply glut will grow. OPEC agreed on June 5 to retain its collective output target of 30
million barrels a day, a level that its exceeded for 14 months, according to data compiled by Bloomberg.
Prices are going to remain under pressure because output is near record levels in several OPEC countries, John
Kilduff, a partner at Again Capital LLC, a New York-based hedge fund that focuses on energy, said by phone.
Brent for September settlement fell $1.10, or 2.1 percent, to end the session at $52.21 a barrel on the Londonbased ICE Futures Europe exchange. It was the lowest close since Jan. 29.
Iraqi production dropped 194,000 barrels a day to 4.194 million this month, according to the survey. Iraq,
OPECs second-biggest producer, was responsible for more than half of the total decline this month. Exports from
the south of the country through the Persian Gulf rose to a record while there was a larger dip in shipments from
the north through the port of Ceyhan on Turkeys Mediterranean coast.
Saudi Summer
Saudi Arabia, OPECs top producer, increased output by 70,000 barrels a day to 10.57 million in July, the most in
monthly Bloomberg data going back to 1989. Fuel consumption in the Arabian peninsula peaks in the summer
months, when high temperatures lead to increased use of air conditioners.
Iranian production was steady at 2.85 million this month. The nation pumped more than 3.1 million barrels a day
from 1991 until July 2012, when additional sanctions were imposed on the Islamic republic to curb its nuclear
program.
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After its nuclear accord with world powers this month, Iran will focus on regaining market share it lost due to
sanctions, regardless of the impact on prices, Oil Minister Bijan Namdar Zanganeh said July 20 in Tehran. The
nation is seeking to produce almost 4 million barrels a day within seven months of sanctions being removed,
expanding to 4.7 million as soon as feasible after that, Zanganeh said.
Libyan output slipped 20,000 barrels a day to 380,000 this month. The countrys current output is about a third
of what it was before the 2011 rebellion that ended Muammar Qaddafis 42-year rule.
DHAKA: Govt makes abnormal

profit from fuel oil
The price of fuel oil has come down to a half in the last one year but the government is selling the oil at the old
price. The price of the fuel oil is now third highest in Bangladesh around the world.
The government hiked the oil price on 4 January in 2013 when there was an increase in oil prices in the
international market, but it did not reduce the price two years later when the prices came down in the
international market.
Though the finance minister at the post-budget news conference promised to rationalise the oil price, no steps
have been taken to this end as yet.
Bangladesh Petroleum Corporation (BPC) has made a profit of Tk 4,000 crore in one year when the worlds
biggest oil companies were worried whether they would incur a loss.
The BPC is making profit most from octane and petrol. This profit is as high as Tk 40 per litre while it is making
profit up to Tk 20 in diesel, furnace oil and kerosene.
When contacted, former caretaker government adviser AB Mirza Azizul Islam said oil prices should be
rationalised if it is considered from the economic point of view.
In the first three months this year, crude oil price was $54 per barrel and it rose to $61 per barrel in the next
three months, whereas the crude oil was sold at $110 to 115 per barrel even last year.
According to different international media reports, the oil price has decreased by 21% in the United States to
reach $47.12 per barrel on last 30 July.
The international media also forecast that oil prices would increase in the next six months.
Even analysts at Goldman Sachs said the price of fuel oil will be hovering around $50 per barrel up to 2020.
Besides, the BPC booked the ship to import oil at a low rate, the BPC chairman AM Badruddoza told Prothom Alo.
He also admitted that the oil price would remain stationary in the international market in the next six months. He
said he had no information about rationalising the oil price in Bangladesh.
Sources in the finance ministry said the BPC is now about Tk 30,000 crore in debt and of this, owes Tk 26,0 00
crore to the government.
According to the Bangladesh Economic Review report, BPC made a profit of Tk 3,454 crore till 22 April this year.
The World Bank has prepared a chart of BPCs profit margin in last February in comparison with the internationa l
market when the oil price was $70 per barrel. At that time, the production cost of per litre octane and petrol was
Tk 56.85 but it was sold at Tk 99 and Tk 96 per litre respectively.
Deducting the commission and profit for the distributors and sellers, the net profit of the BPC stood at Tk 35.49
per litre.
In the same manner, BPC is making profit of Tk 13.77 per litre of Kerosene, of Tk 14.68 per litre of Diesel, of Tk
19.57 per litre of Furnace oil and of Tk 18.75 per litre of jet fuel oil.
And the government is realising Value Added Tax (VAT) against the fuel oil.
Besides, the government is saving money from its budget. In the last 2014-15 fiscal, the subsidy to the sector
amounted to a total of Tk 2,400 crore. But the expenditure was only Tk 700 crore as subsidy, suggesting that the
government is making profit from all sides thanks to the fall of oil price in the international market whereas the
consumers cannot save a single penny.
Sources in the finance ministry said many international airlines companies are no more interested to take fuel
from the Dhaka international airport as the jet fuel price is higher in Dhaka compared to other airports.
When contacted, the BPC chairman Badruddoza claimed that they have fixed the jet fuel price considering the
price in other airports in the region.
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It was learnt that the per litre jet fuel price in Dhaka airport is Tk 2 to 12 higher than that in other airports.
In Bangladesh, 45% of the fuel is used in the transport sector, 25% in the power sector, 19% in agriculture
sector, 4% in the industries and 7% in the household sector.
Waiting for the Second FLNG Wave
Despite a current pause in commitments to new projects, the capital expenditure for FLNG vessels is expected to
amount to $35.5 billion over 2015-2021.
There is huge interest in the technology, and future commitments hinge on the success of just a few projects.
The delivery of Petronas PFLNG 1, also known as the PFLNG SATU, will be the worlds first FLNG vessel to start
operations on its completion by the end of 2016. This will be followed by Shells Prelude FLNG vessel, a
significantly larger project and one that is likely to shape future FLNG developments.
Following these projects is a second wave of new projects that are yet to be sanctioned but are expected to drive
a growth in expenditure from 2019 onwards. This includes major projects in frontier regions such as Australasia,
Asia, Gulf of Guinea, East Africa and the East Mediterranean.
Douglas Westwood analyst, Ben Wilby, says, The application of LNG technology offshore has been proposed and
studied within the industry for more than 30 years so there is intense industry interest in the first appli cations.
The success of these first pioneering projects will no doubt impact future commitments by operators to FLNG
developments.
There are now many projects on the starting blocks awaiting a final investment decision by the operator. In 2015
we expect something of a pause in new commitments given both the first in the line to be second approach to
the technology and the Capex cutbacks we have seen as a function of lower oil and gas prices.
The Attraction of FLNG
Operators are attracted to FLNG, as, compared to its onshore alternative, FLNG facilities are more secure, can
have shorter lead-times, remove the need for long pipeline to shore and offer a potentially lower-cost alternative
to monetizing stranded gas fields.
While there are inherent risks, FLNG is undoubtedly a prospective market that in the long-run is poised to drive
many future gas developments, says Wilby.
Liquefaction units will account for 61 percent of the total FLNG spend ($35.5 billion), says Wilby. The key
difference between liquefaction and regasification is that liquefaction vessels cost significantly more and take
longer to build - there are a lot less liquefaction vessels expected over the forecast period but they still account
for more of the Capex for example.
FSRU units tend to be cheaper and have much shorter manufacturing times (typically 18-24 months). They are
also more of a known quantity and are already an established alternative to onshore regasification plants.
Action for Asian Yards
The large yards in Korea will be responsible for many of the major newbuild liquefaction facilities, including two of
the early vessels Prelude (Samsung Heavy Industries) and PFLNG 1 (Daewoo Shipbuilding & Marine
Engineering).
For the smaller conversion projects other yards are likely to pick up the slack, says Wilby. These are likely to be
those who already have experience in building FSRUs, FPSOs and LNG carriers and much of the work will remain
Asia-focused with South Korea, Japan and Singapore likely to take on the majority of it.
To date, newbuild floating regasification vessels have taken place in Korean yards. Recently, however, CNOOC
announced that they were planning on sourcing some of their new FSRUs from Chinese yard s, demonstrating a
change in the industry, says Wilby.
Again, it is smaller yards that pick up the conversion projects and the Keppel shipyard in Singapore has been
responsible for many FSRUs in the past. FSRUs are a more established technology than LNG FPSOs, as well as
being both cheaper and quicker to manufacture, which explains the more diverse spread of shipyards that have
completed projects.
Topsides
Topsides are often subcontracted out to other companies and a wide range of companies operate in this space.
Often they will have a separate FEED contract Technip and Mustang have completed work on projects in the
past. Manufacturing can be carried out by shipyards, often in collaboration with engineering companies, though
some companies (such as Technip) will do everything from engineering to construction and installation.
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Major projects are rarely the product of one yard and companies will call on the experience of many players to
ensure the project is a success. This is especially important for liquefaction vessels which use technology that
takes up a huge area on land. Typically liquefaction facilities have to be shrunk to about a quarter of the size they
take up on land.
FSRU Spending
Douglas-Westwood research indicates that spending on FSRUs will reach $22.8 billion over the 2015-2021
period, taking the combined expenditure for the floating LNG market to $58.3 billion.
Douglas-Westwood anticipates more floating regasification units will be sanctioned, with Asia and Latin America
being the dominant regions. Upcoming projects are visible in Indonesia, China, Pakistan, India, Vietnam,
Bangladesh and Sri Lanka, mostly led by National Oil Companies. Latin America will see deployments of floating
regasification units in Chile and Puerto Rico.
Impact of the Oil Price Collapse
Both the FLNG and FSRU market will be hit by the collapse in oil price. This has also affected the LNG spot price
and as a result has led to a decline in the commercial viability of projects. For many LNG projects, companies
usually have to lock in a number of contracts before sanctioning development getting a favorable price for the
LNG produced is harder than it would have been even a year ago, and this will affect the sanctioning of a number
of projects.
Interestingly, says Wilby, the U.S. has seen a reversal in the units it requires. Only a few years ago a number of
FSRU units were expected to be commissioned to allow more gas to be imported into the country to meet its
energy needs, with the huge growth in shale gas this has now changed.
This will not really impact the market until after 2021, and major offshore liquefaction plants are not expected
anytime soon in the region.
NEPAL: NOC slashes LPG price by

Rs 35/cylinder
Nepal Oil Corporation ( NOC ) has reduced the price of the liquefied petroleum gas ( LPG ) by Rs35 per cylinder. It
is probably the first time that the state-owned enterprise has reduced the price of cooking gas .
With the revised price, the cooking gas now costs Rs1,435 per cylinder. Previously, the NOC had ever been
suffering loss in the petroleum product. According to the NOC , it suffered the loss of Rs 1,043 per cylinder in
January 2013the biggest loss the NOC ever went.
Along with the LPG , the NOC also reduced the prices of petrol, diesel, kerosene and aviation fuel (used in both
domestic and international flights. According to the oil monopoly, it has reduced the price of petrol, diesel and
kerosene each by Rs2.50 per liter. With the reduced price, petrol now costs Rs 106.50 per liter while the diesel
and kerosene cost Rs84 per litre each.
Similarly, the NOC also reduced the price of aviation fuel used in domestic flight by Rs15 per liter to Rs118 per
liter. Similarly, the price of aviation fuel for international flight has been reduced by $75 per kilolitre to $1,325.
With the revised price, the estimated profit of the enterprise is Rs1.7 billion this month, says the NOC .
KARACHI: Sustainable Energy
KARACHI: Meeting the energy challenge is of paramount importance for Pakistans economic growth and its
efforts to raise human development levels.
To achieve high growth over the next decade to 2025 and to meet the objective of greater self-reliance, Pakistan
needs, at the very least, a two-fold increase in primary energy supply and a three-time increase in electricity
generation capacity.
The country, by virtue of its location and natural endowments, has many technologically feasible choices to meet
its growing energy needs. The challenge lies in picking these options in such a way that satisfies commercial
needs and tames political voices. Another formidable task is to utilise the countrys limited capital and capacity
optimally.
With these challenges in mind, the Energy Experts Group revisited the Integrated Energy Plan 2011 and updated
it for the period 2015-2025.
The broad vision of the energy plan is to meet the demand for energy from all sectors in a sustainable manner
with greater reliance on development of domestic resources.
The real GDP growth for the 2015-25 period is projected at an average of 5% per annum, which compares
favourably with the average economic expansion of approximately 3.5% over the past five years.
State of energy sector
PetroMag
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Pakistans energy sector is mired in crisis, which is recognised by the government in its Vision 2025. It strikes 47% off the countrys GDP annually which equals to a loss of between $10 billion and $15 billion.
The loss of energy means increase in direct global warming and higher costs to the economy. A 1% loss of
electrical energy is equivalent to a loss of Rs13 billion in revenues per year.
The energy mix shows a heavy reliance on natural gas as a primary source of energy in Pakistan followed by oil,
the bulk of which is imported. Nuclear, hydroelectric and renewable energy (insignificant at present) together
form only 13% of the total. This is unsustainable as reliance on hydrocarbons increased from just under 80% to
82% in 2013-14.
Integrated plan
The integrated plan suggests an urgent need of a national energy authority and a ministry of energy. It also calls
for the formation of an intergrated energy policy to ensure consistency and coordination among different sectors,
along with removal of government intervention in consumer pricing.
It proposes less dependence on hydrocarbons, especially imported fuels, to around 60% to 70% from the current
87% by 2025.
If we have to achieve moderate to good economic growth, we need to allocate our cheap indigenous resources
to those sectors of the economy which will produce the greatest benefit; and these sectors are power, industry
and agriculture, stated the report.
The Energy Experts Group also recommends upgrading the existing simple-cycle plants to cost-efficient and latest
technologies along with plants located close to industrial zones.
The report stresses need of a detailed analysis of energy use and intensity across all industries to have a better
understanding of where wastages are taking place, and hiring of internationally reputed companies to audit the
power sector and other major consumers.
It urges the introduction of proper unaccounted for gas (UFG) control system in both Sui companies as a 1%
reduction nearly equals 40 mmcfd. Gas subsidies or loss subsidies should be eliminated and instead the
government should provide direct support to the segment of population below the poverty line, said the report.
Also, no expansion of gas distribution system should be initiated till further discoveries and all thermal power
plants must be coal-based or combined-cycle gas turbine plants to use LNG as this fuel has advantages over
other liquid fuels.
As for the refining sector, it is the states responsibility to come up with a strategic storage capacity to meet the
countrys needs during emergency and should be developed within three years to avoid any unforeseen supply
disruption.
The plan stresses strengthening of the transmission and distribution networks and proper load flow studies to be
carried out by third-party professional engineers. Losses of more than 10-year-old power transformers,
especially those overloaded should be measured at site.
The report expresses fear that if Pakistan does not move towards implementing an integrated plan then it is
certain to face a large and growing energy deficit during the next 15 years.
The writer is a staff correspondent
Arguments for and against the

Keystone pipeline are all over the
map.
Proponents say it will be an economic boost; critics say it won't have a significant impact.
Critics also worry about environmental consequences, but proponents note that with 2.5 million miles of pipeline
in the United States already, Keystone will probably be low on the list of worries.
Let's set aside for now those very real issues to ask a more fundamental question: What is this nation's long-term
energy strategy, and how does that strategy play into national security goals?
America's priority has to be energy independence, by which we mean independence from OPEC, many members
of which use money we pay at the pump to fund ways to destroy us. Do we really want to continue buying oil from
Iraq, Saudi Arabia, Venezuela and others?
Last year, at a Senate Foreign Relations Committee meeting, U.S. Marine Corps Gen. James L. Jones (retired),
said Keystone was of strategic importance to the United States. He also noted that America's Fifth Fleet is based
in Bahrain, primarily to secure free passage of crude oil through the Persian Gulf and Strait of Hormuz to the rest
of the world.
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"Why would the United States spend billions of dollars and place our military personnel at risk to ensure the flow
of energy half a world away but neglect an opportunity to enable the flow of energy in our very own backyard
creating jobs, tax revenue and greater security?" Jones asked.
Critics of Keystone say most of the oil produced in Canada and shipped through the Midwest will be refined on
the Gulf Coast and sold overseas. They call Keystone an "export pipeline." If that's the case meaning big oil
companies win but little else changes we're not interested. Under that scenario, Keystone is not compatible
with America's long-term interests or strategic goals.
Proponents, however, say only between a third and half of the oil will be shipped overseas, while the rest will be
used by American consumers.
Who is right? A number of independent analyses also determined that 30 to 50 percent of the oil refined on the
Gulf Coast today goes overseas as diesel fuel, gasoline, etc.
That is not acceptable.
Another analysis concluded that 70 percent of what is pumped through Keystone will remain in the United States.
That's moving in the right direction.
Congress and President Barack Obama need to require that a certain percentage at a minimum, we'd
recommend 75 percent of the refined oil from Keystone remain in the United States, serving American
consumers and American interests.
Like we said, if this moves us closer to energy independence, we'll support it, even though it may not bring all the
promised jobs or even if it comes with environmental risks. If not, forget it.
Indonesia's Donggi-Senoro LNG

project ships first cargo
Indonesia's Donggi-Senoro liquefied natural gas (LNG) project shipped its first LNG cargo on Sunday, the project's
biggest shareholder Mitsubishi Corp said.
The $2.9 billion project, with LNG production capacity of 2 million-tonne-per-year (mtpa), is one of several major
gas infrastructure projects that the country hopes will meet mushrooming energy demands at home and around
the region.
LNG plant operations started on June 24, and the first LNG shipment was made to Indonesia's state energy firm
Pertamina's Arun LNG receiving terminal, Mitsubishi, which holds around 45 percent of the project, said in a
statement.
The second cargo shipment is scheduled for mid-August, it added.
Other shareholders in the project include South Korea's Kogas, Indonesia's Medco Energi Internasional and
Pertamina.
Donggi-Senoro has contracts to supply 1 mtpa of LNG to Chubu Electric Power Co Inc, 300,000 tonnes per year
to Kyushu Electric Power Co Inc and 700,000 tonnes per year to Kogas.
Oil companies Royal Dutch,

Centrica, Saipam, forecast big job
losses
The tumbling oil price is not only creating headaches for the bosses of the global oil giants, it's also threatening to
derail the US central bank's plans to raise interest rates later this year.
The world's big oil companies are now slashing jobs and cutting spending as they prepare themselves to
withstand a prolonged period of weakness in the oil price, which is now trading at just over $US50 ($68.50) a
barrel, down from $US115 in June last year.
Last week, ExxonMobil, the biggest US oil company, reported its worst quarterly profits in six years. Its main US
rival, Chevron, suffered even more pain, with its second quarter profit plunging 90 per cent to the lowest level
since 2002.
In response to shrinking revenues, the oil industry worldwide has already shed an estimated 70,000 jobs. And
the job losses appear to be picking up pace.
In the past week alone, Royal Dutch Shell announced it was cutting 6500 jobs, the British energy firm Centrica
(which owns British Gas) said it would reduce its head count by 4000, while Italy's biggest oil and gas contractor,
Saipem, said it would trim its workforce by 8800 people.
The big oil companies have also cut back on investment, saving themselves an estimated $US200 billion ($273
billion) in capital spending by shelving big-ticket oil and gas projects.
The drop in the oil price, which started midway through last year, picked up in November when OPEC, the
producers' cartel, decided not to cut output.
After enjoying a brief recovery earlier this year, the oil price dropped by more than 20 per cent in July its worst
monthly drop since the 2008 financial crisis -as investors worried about the resilience of US shale producers.
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Although the US oil rig count has dropped sharply in the past year, US shale oil producers have kept output
steady by targeting richer sections of shale.
The oil price has also come under renewed pressure after Iran, which has the world's third-largest oil and gas
reserves, last month struck a deal that will lead to the gradual lifting of international sanctions in return for limits
on its nuclear program.
And the big oil producing countries are not doing much to support the oil price. OPEC secretary general Abdalla El Badri repeated last week that the cartel was "not ready to reduce" production.
Meanwhile, the sharp drop in the oil price is playing havoc with the US central bank's plans to raise interest rates
this year.
Janet Yellen, the head of the US Federal Reserve, has been at pains to prepare investors for rate rises this year.
However, she has always added that the US central bank would look at the data particularly on employment
and inflation before moving its key interest rate, which it has kept close to zero since December 2008.
But while the US jobs market has staged a strong recovery the country's unemployment rate has fallen from 10
per cent in 2009 to 5.3 per cent in June inflationary pressures remain feeble.
After a policy meeting last week, Fed officials warned that they would continue "to monitor inflation developments
closely", a sign that they are worried about weak price pressures.
And the US central bank was given yet more reason for concern after figures released on Friday showed that US
wages and salaries only rose by 0.2 per cent in the second quarter of the year. This was a fraction of the 0.7 per
cent jump in the first quarter, and the weakest rise since records began in 1982.
The paltry increase in pay packets surprised economists who had been expecting that wages would rise as the US
labour market improved, but some believe that job losses in the oil industry are to blame.
While New York has boosted the minimum wage for fast food workers to $US15 an hour, the steady decline in
the rig count has translated into a loss of a large number of highly paid skilled jobs.
Investors, figuring that the sluggish wages growth made it unlikely that the US central bank would raise rates at
its September meeting, responded by buying US bonds. This pushed bond prices higher and yields lower, with the
yield on the benchmark 10-year bond dipping to 2.21 per cent.
Natural gas futures - weekly

outlook: August 3 7
Natural gas futures fell to a three-week low on Friday, as forecasts for mild weather across the U.S. in the weeks
ahead dampened demand expectations for the fuel.
On the New York Mercantile Exchange, natural gas for delivery in September hit an intraday low of $2.706 per
million British thermal units, the weakest level since July 9, before ending the day at $2.716, down 5.2 cents, or
1.88%.
On Thursday, natural gas futures plunged 9.6 cents, or 3.35%, to close at $2.768 despite data showing that U.S.
natural gas supplies rose less than expected last week.
For the week, the September natural gas contract declined 2.9 cents, or 2.13%, the second straight weekly loss.
Futures dropped 12.6 cents, or 4.43%, in July, amid concerns over weak summer demand.
Updated weather forecasting models called for mostly average temperatures across most parts of the U.S. in the
next two weeks.
Demand for natural gas tends to fluctuate in the summer based on hot weather and air conditioning use. Natural
gas accounts for about a quarter of U.S. electricity generation.
According to the U.S. Energy Information Administration, natural gas storage stood at 2.828 trillion cubic feet as
of last week, 28.2% higher than during the same week a year earlier and 2.9% above the five-year average for
this time of year.
Last spring, supplies were 55% below the five-year average, indicating producers have made up for all of last
winters unusually strong demand.
Data on Thursday showed that natural gas storage in the U.S. rose by 52 billion cubic feet, below expectations for
an increase of 54 billion and following a build of 61 billion cubic feet in the preceding week.
Supplies rose by 88 billion cubic feet in the same week last year, while the five -year average change is an
increase of 48 billion cubic feet.
The EIA\'s next storage report slated for release on Thursday, August 6 is expected to show a build of
approximately 50 billion cubic feet for the week ending July 31.
PetroMag
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Supplies rose by 83 billion cubic feet in the same week last year, while the five -year average change is an
increase of 53 billion cubic feet.
Elsewhere on the Nymex, crude oil for September delivery settled at $47.12 a barrel by close of trade on Friday,
down 88 cents, or 2.12%, on the week, while heating oil for September delivery dropped 2.99% on the week to
settle at $1.588 per gallon.
Crude oil futures - weekly outlook:

August 3 7
Crude oil futures fell sharply on Friday to cap the worst monthly performance since the 2008 global financial
crisis as ongoing concerns over a glut in world markets continued to drive down prices.
On the ICE Futures Exchange in London, Brent for September delivery fell to a session low of $51.63 a barrel, a
level not seen since January 30, before closing at $52.21, down $1.10, or 2.06%, for the day.
For the week, London-traded Brent futures lost $2.24, or 4.41%, the fifth straight weekly decline. Prices tumbled
$11.39, or 18.6%, in July, amid concerns a resumption of Iranian oil exports will add to a global glut.
Iran and six world powers reached a long-awaited nuclear deal in July that would end sanctions on Tehran in
exchange for curbs on the country's disputed nuclear program. Iran reportedly hoards 30 million barrels of oil in
its reserves ready for export.
Reports of record high oil exports from Iraq and robust production from Saudi Arabia also contributed to losses.
Global oil production is outpacing demand following a boom in U.S. shale oil production and after a d ecision by
the Organization of Petroleum Exporting Countries last year not to cut production.
Elsewhere, U.S. oil futures fell to the lowest level in more than four months on Friday, after data showed that rigs
drilling for oil in the U.S. rose last week, underlining concerns over robust domestic production.
On the New York Mercantile Exchange, crude oil for delivery in September hit an intraday low of $46.70 a barrel,
a level not seen since March 24, before ending at $47.12, down $1.40, or 2.89%.
On the week, New York-traded oil futures declined 88 cents, or 2.12%, the seventh consecutive weekly loss.
Nymex oil prices plunged $12.22, or 21.24%, in July, the biggest monthly loss since October 2008, as worries
over high domestic U.S. oil production weighed.
Industry research group Baker Hughes (NYSE:BHI) said late Friday that the number of rigs drilling for oil in the
U.S. increased by five last week to 664, the second straight weekly gain.
Meanwhile, the spread between the Brent and the WTI crude contracts stood at $5.09 a barrel by close of trade
on Friday, compared to $6.48 in the preceding week.
Concerns over the health of China's economy, a broadly stronger U.S. dollar and prospects of higher interest rates
in the U.S. later this year also weighed.
In the week ahead, investors will be focusing on Friday's nonfarm payrolls report for July, for fresh indications on
the strength of the economy and the timing of a U.S. rate increase.
Market participants will also be awaiting surveys of manufacturing and service sector data from the U.S., the U.K.
and China.
Ahead of the coming week, Investing.com has compiled a list of these and other significant events likely to affect
the markets.
Monday, August 3
China is to release revised data on manufacturing activity.
The U.K. is to publish its manufacturing index.
The U.S. is to release data on personal income and expenditure, while the Institute of Supply Management is to
release data on manufacturing activity.
Tuesday, August 4
The U.S. is to report on factory orders, while the American Petroleum Institute, an industry group, is to publish its
weekly report on oil supplies.
Wednesday, August 5
The U.S. is to release the ADP report on private sector hiring, while the ISM is to release data on service sector
activity.
The country will also produce data on the trade balance and on crude oil inventories.
Thursday, August 6
Germany is to release data on factory orders.
The U.S. is to release its weekly government report on initial jobless claims.
Friday, August 7
The U.S. is to round up the week with the closely watched government report on nonfarm payrolls.
PetroMag
37
Nymex oil posts worst monthly

drop of 2015
The West Texas Intermediate (WTI) crude for September delivery fell by US$1.40, or 2.9%, to settle at US$47.12
a barrel on the New York Mercantile Exchange.
Crude oil futures traded in New York finished lower on Friday, registering its worst monthly fall in percentage
terms since 2008 after a report showing higher rig counts aggravated concerns over the current oversupply
situation in the global oil market.
The number of US oil rigs rose by five to 664, oil-services firm Baker Hughes reported on Friday.
The West Texas Intermediate (WTI) crude for September delivery fell by US$1.40, or 2.9%, to settle at US$47.12
a barrel on the New York Mercantile Exchange.
WTI finished the week down by ~2.5%, leading to a monthly fall of 21%.
September Brent crude oil on the Londons ICE Futures exchange lost US$1.10, or 2.1%, to end at US$52.21 a
barrel. For the week, Brent was down ~5%, leading to 18% fall in July.
Over the past few months, oil prices have been under tremendous pressure owing to a global supply glut.
At the same time, a strong US dollar has also made the dollar-denominated crude more expensive for buyers in
other currencies.
High global supplies have kept oil prices in a tight leash even as competition has intensified among the leading
global producers, who are not willing to opt for production cut to protect their market share.
Saudi tumbles on oil, earnings;

other markets also weak
Stock markets across the Middle East fell on Sunday after oil prices dropped again and Saudi Arabia, heavily
influenced by the petrochemicals sector, led losses, hitting a four-month low.
The main Saudi index sank 3.2 percent to 8,807 points, its biggest daily loss since late March, with nearly all
stocks in the red. It has no significant technical support left above the April low of 8,502 points.
Petrochemicals giant Saudi Basic Industries tumbled 3.9 percent. The company's profits have been hurt by the
drop in oil prices over the last 12 months, and the commodity's fresh weakness is a concern for investors.
U.S. crude posted its biggest monthly drop - 21 percent - since the 2008 financial crisis on Friday after a string of
losses in July triggered by China's stock market slump and signs that top Middle East producers were pumping
crude at record levels. Brent lost 5 percent on the week and 18 percent on the month.
Other companies in the petrochemicals industry also fell sharply, and the sector's index was down 4.4 percent.
Red Sea Housing Services tumbled to its daily 10 percent limit after second-quarter profit dropped 58 percent on
lower sales and margins and the firm announced delays in the implementation of some projects.
Mediterranean and Gulf Insurance & Reinsurance Co was also down 10 percent after swinging to a loss in the
second quarter, which it blamed on higher claims.
In the latest monthly Reuters survey of leading Middle East fund managers, published on Thursday, 40 percent
said they expected to cut equity allocations to Saudi Arabia in the next three months and just 7 percent to
increase them. That compared with 27 percent intending to decrease allocations and 13 percent to increase
them in the June survey.
With the exception of Turkey, Saudi Arabia was seen as the most negative major Middle Eastern equities market,
because of high valuations and the heavy weighting of petrochemicals.
Another factor that may have hurt the sentiment of Saudi investors was a fresh restatement of earnings by
telecommunications firm Mobily for the last 27 months; it slashed total profits over the period by nearly 1.76
billion riyals ($470 million) in its latest attempt to resolve an accounting scandal.
Shares in Mobily, which also posted a loss of 900.9 million riyals for the second quarter on Sunday, have been
suspended since June and will resume trading on Monday.
UAE, EGYPT
Dubai's bourse fell 0.9 percent and property developer DAMAC was one of just a few gainers, jumping 2.6
percent. The company said on Sunday its board would discuss second-quarter results and a dividend payout on
Tuesday.
DAMAC's board will also discuss the adoption of the IFRS 15 accounting standard, which allows developers to
recognise off-plan sales earlier than under current practice.
Meanwhile another property-related firm, mortgage lender Amlak Finance, tumbled 8.5 percent and was the most
traded stock in Dubai. Amlak had gained as much as 150 percent since it resumed trading in June after a multi year suspension, and many fund managers and analysts saw the gains as highly speculative.
PetroMag
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Elsewhere in the Gulf, Abu Dhabi's bourse lost 0.9 percent while Qatar fell 1.1 percent. Heavyweight Industries
Qatar, whose earnings are sensitive to oil prices, also fell 1.1 percent.
Egypt's stock index inched up in early trade but then turned negative under the pressure of selling by Arab retail
investors and closed 0.4 percent lower.
Commercial International Bank, the country's biggest listed lender, fell 2.4 percent despite reporting second quarter results last week that were in line with analysts' forecasts.
But Ezz Steel rose 2.0 percent after Egyptian media reported that the state energy company had contracted to
obtain a floating liquefied natural gas terminal that would supply the industrial sector. Ezz and other
manufacturers have been suffering from severe energy shortages.
SUNDAY'S HIGHLIGHTS
SAUDI ARABIA
* The index dropped 3.2 percent to 8,807 points.
DUBAI
* The index fell 0.9 percent to 4,104 points.
ABU DHABI
* The index lost 0.9 percent to 4,791 points.
QATAR
* The index slid 1.1 percent to 11,651 points.
EGYPT
* The index edged down 0.4 percent to 8,158 points.
KUWAIT
* The index slipped 0.3 percent to 6,237 points.
OMAN
* The index inched down 0.04 percent to 6,555 points.
BAHRAIN
* The index slipped 0.1 percent to 1,330 points.
WTI Crude Oil Speculators Drop

Net Bullish Positions For 4th Week
WTI Crude Oil Non-Commercial Positions:

Futures market traders and large oil speculators cut their overall bullish bets in WTI oil futures last week for the
fourth consecutive week, according to the latest Commitment of Traders (COT) data released by the Commodity
Futures Trading Commission (CFTC) on Friday.
The non-commercial contracts of crude oil futures, traded by large speculators, traders and hedge funds, totaled
a net position of +243,419 contracts in the data reported for July 21st. This was a change of -10,264 contracts
from the previous weeks total of +253,683 net contracts for the data reported through July 28th.
For the week, the standing non-commercial long positions in oil futures rose by 11,645 contracts, but were
overtaken by a larger increase in the short positions by 21,909 contracts to total the overall weekly net change of
-10,264 contracts.
Courtesy: Media Reports: PTI / Reuters / Financial Times / BBC Business News / DAWN (Pakistan) / Tehran Times / The Times/ CNN/
BBC News / OPEC Press releases / Africa Intelligence / Australia Daily / Hong Kong Times / Gulf News / Economic Times / Times of
India / Business Standard / Business Line / Financial Express / Deccan Chronicle / Tribune / Telegraph / Statesman / Hindustan
Times / The Hindu / The Assam Tribune / Parliament House Press releases / Company Press releases / Ministry / Petroleum Bazaar
staff reporting. Interoceanic Ship
PetroMag
39
INDUSTRIAL SALES PERFORMANCE
All India Monthly Industry Sales Performance
Products
Sales for the month (TMT)

JUNE 15
LPG
Naphtha + NGL
MS
JUNE14
Cumulative Sales (TMT)

Apr-Mar 16
Apr-Mar15
% Growth/ (Decline)
JUN15
JUN14
1451.1
1312.4
4363.2
4017.7
10.6
8.6
727.9
887.8
2498.7
2656.8
(18.0)
(6.0)
9.9
12.3
1769.4
1610.7
5386.2
4796.3
ATF / JP-5
468.0
450.3
1437.8
1389.8
3.9
3.5
SKO
566.5
595.3
1711.3
1770.7
(4.8)
(3.4)
HSD
6285.4
6136.2
19206.9
18540.7
2.4
3.6
LDO
40.8
30.0
91.0
86.4
36.2
5.4
FO/ LSHS
436.8
450.6
1309.0
1333.8
(3.1)
(1.9)
BITUMEN
377.1
462.2
1348.3
1537.8
(18.4)
(12.3)
LUBES/GREASES
104.1
91.7
299.9
235.6
13.4
27.3
Total 10 Products
12227.0
12027.2
37652.3
36365.5
1.7
3.5
Others
Total POL Products
CNG
LNG
Total GAS
PetroMag
1085.9
994.5
3078.7
3026.4
9.2
1.7
13313.0
13021.7
40731.0
39391.8
2.2
3.4
171.9
162.6
521.4
489.7
5.7
6.5
835.2
802.1
2256.4
2461.3
4.1
(8.3)
1007.1
964.7
2777.8
2951.0
4.4
(5.9)
40
PIPELINE TRANSFERS
Pipeline transfers through inland product pipelines in the country during the month and utilization percent are given below:
Figs. in TMTs
Pipeline
Capacity
TMTPA
HBPL (Haldia-Rajbandh-Barauni)
Thruput
(TMT)
TMTPM
JUNE. 15
Utilisation
140.4
376.8
134.8
120.6
HMRPL (Haldia-Mourigram-Chitragung- Rajbandh)
168
484.1
149.3
143.4
BKPL (Barauni-Patna-Mughalsari- Allahabad-Kanpur)
199
562.1
68.2
64.2
GSPL (Guwahati-Siliguri)
169.4
473.3
145.2
135.2
MJPL (Mathura-Brijwasan-Ambala- Partapur-Jalandhar)
469.2
1421.4
78.2
79
MTPL (Mathura-Tundla)
36.1
89.5
36.1
29.8
MBPL (Mathura-Bharatpur)
66.7
187.5
66.7
62.5
PRPL (Panipat-Rewari)
134.4
391.2
107.5
104.3
PBPL (Panipat-Bhatinda)
129.7
331.4
103.7
88.4
KAPL (Koyali-Ahemedabad)
69.2
177.3
75.5
64.5
KDPL (Koyali-Dahej)
68.3
140
31.5
21.5
KSPL (Koyali-Viramgam-Sidhpur- Sanganer)
323.8
683
94.8
66.6
KRPL (Koyali-Rathlam)
115.6
260.8
69.4
52.2
CTMPL (Chennai-Trichy-Madurai)
229.2
648
119.6
112.7
CBPL (Chennai-Bangalore)
122.9
373.5
101.7
103
MPPL (Mumbai-Pune-Solapur)
375
1108
122.6
120.8
MUMBAI-MANMAD-BIJWASAN
598
1212
119.6
80.8
MUNDRA-DELHI
199
618
47.8
49.4
MHBPL (Mangalore-Hassan-Bangalore)
522
1046
111.9
74.7
VVSPL (Vizag-Vijayawada- Secunderabad)
405
1154
90.3
85.8
CCKPL (Cochin-Coimbatore-Karur)
242
701
88
85
JLPL (Jamnagar-Loni) - LPG
154
518
73.9
82.9
VSPL (Vizag-Secunderabad) - LPG
97.4
333
103.5
117.9
PetroMag
41
NATURAL GAS IMPORT, SALE AND PRODUCTION
Import of Liquefied Natural Gas to the domestic market * (MMT)

Month
Dec. 14
Total LNG Imports
Jan. 15
0.993
Feb. 15
0.941
Mar.15
0.701
Apr. 15 May ' 15
0.759
1.111
Total
1.096
2.207
TOTAL
2.207
* Provisional
TBTU: Trillion British Thermal Unit
Source:Petronet LNG Limited & Hazira LNG Pvt Ltd.
Sale of Natural Gas in the domestic market*

(in MMSCM)
Month
Jan. 15
Domestic Natural Gas

Coal Bed Methane (CBM)
Regasified Liquified
Natural Gas (R- LNG)
Total
Feb. 15
Apr. 15
May' 15 (P)
Total
2263.22
1990.44
Mar.15
2220.99
2098.54
2248.12
4346.66
22.83
19.65
23.84
17.67
19.53
37.20
1031.76
838.40
1039.80
1580.50
1517.67
3098.17
3317.81
2848.49
3284.63
2098.54
2248.12
4346.66
* Provisional
MMSCM: Million Standard Cubic Metre
Source:ONGC,OIL,DGH,PLL & Shell
NOTE :1 Sale by producing and importing companies
State-wise Natural Gas Production in India, 2014-15 (Month-wise)*

State
Jan. 15
Feb. 15
Mar.15
Apr. 15
May' 15 (P)
Total
I) Gross Production :
A) Onshore:
(i) Assam/Arunachal Pradesh
248.63
219.00
247.69
217.88
246.95
464.83
(ii) Rajasthan
108.51
98.34
116.91
93.65
99.76
193.41
(iii) Gujarat
127.64
114.77
125.15
125.56
127.02
252.58
(iv) Tamil Nadu
90.31
81.62
100.01
88.51
97.15
185.66
(v) Andhra Pradesh
48.42
45.67
54.51
52.93
52.69
105.62
100.32
92.33
117.79
99.65
96.37
196.02
(vi) Tripura
22.83
19.65
23.84
29.99
32.15
62.14
Onshore Total (A)
(vii) West Bengal (CBM)
746.66
671.37
785.89
708.17
752.10
1460.27
B) Offshore:
2125.04
1863.25
2051.18
1961.53
2100.13
4061.65
Total (A+B)
2871.70
2534.63
2837.07
2669.70
2852.22
5521.92
II) Net Availability1
2787.71
2458.88
2738.00
2576.52
2756.85
5333.37
* Provisional
MMSCM: Million Standard Cubic Metre
Source:ONGC,OIL&DGH
NOTE : 1 Denotes natural gas available for consumption, which is derived by deducting from gross production, the quantity of gas
flared by producing companies
PetroMag
42
REGION WISE INDUSTRY SALES GROWTH (Figs. In TMT)
PRODUCTS
LPG
REGION
SKO
2014-15
%GROWTH
402.5
10.2
1385.3
1287.8
7.6
201.0
19.4
692.4
604.3
14.6
WESTERN
328.4
303.9
8.1
978.1
915.3
6.9
SOUTHERN
438.9
405.0
8.4
1307.4
1210.2
8.0
1451.1
1312.4
10.6
4363.2
4017.7
8.6
NORTHERN
168.7
228.9
(26.3)
737.7
719.5
2.5
EASTERN
18.3
81.4
(77.5)
108.8
267.1
(59.3)
WESTERN
506.4
505.2
0.2
1573.6
1411.8
11.5
34.5
72.3
(52.3)
78.6
258.4
(69.6)
ALL INDIA
727.9
887.8
(18.0)
2498.7
2656.8
(6.0)
NORTHERN
539.1
499.1
8.0
1628.0
1457.2
11.7
EASTERN
212.1
187.7
13.0
642.8
549.1
17.1
WESTERN
475.9
440.6
8.0
1486.6
1340.3
10.9
SOUTHERN
542.3
483.2
12.2
1628.9
1449.6
12.4
1769.4
1610.7
9.9
5386.2
4796.3
12.3
NORTHERN
167.7
157.8
6.3
511.7
479.2
6.8
EASTERN
35.3
32.7
7.9
115.1
103.7
11.0
WESTERN
137.3
134.4
2.2
423.2
412.5
2.6
SOUTHERN
127.8
125.5
1.9
387.7
394.5
(1.7)
ALL INDIA
468.0
450.3
3.9
1437.8
1389.8
3.5
NORTHERN
161.5
166.5
(3.0)
467.3
486.7
(4.0)
EASTERN
189.5
189.7
(0.1)
555.8
566.5
(1.9)
WESTERN
123.2
140.3
(12.2)
408.3
421.7
(3.2)
92.4
98.7
(6.4)
279.9
295.8
(5.4)
566.5
595.3
(4.8)
1711.3
1770.7
(3.4)
ALL INDIA
LDO/MLO
2015-16
240.1
SOUTHERN
HSD
%GROWTH
443.7
ALL INDIA
ATF
2014
EASTERN
SOUTHERN
MS
2015
APRIL MAR. 16
NORTHERN
ALL INDIA
NAPHTHA/NGL
JUNE
NORTHERN
2143.2
2076.0
3.2
6473.9
6238.5
3.8
EASTERN
871.3
832.6
4.7
2668.9
2493.8
7.0
WESTERN
1540.9
1504.8
2.4
4788.9
4579.7
4.6
SOUTHERN
1729.9
1722.8
0.4
5275.3
5228.7
0.9
ALL INDIA
6285.4
6136.2
2.4
19206.9
18540.7
3.6
9.0
5.2
72.2
24.7
14.4
71.0
EASTERN
15.6
11.9
31.0
26.0
33.6
(22.5)
WESTERN
13.7
10.5
30.5
33.7
31.9
5.8
2.5
2.4
7.5
6.5
6.5
0.9
ALL INDIA
40.8
30.0
36.2
91.0
86.4
5.4
NORTHERN
79.2
61.4
28.9
225.9
183.1
(10.2)
EASTERN
81.5
83.9
(2.8)
256.2
245.1
(2.2)
NORTHERN
SOUTHERN
FO/LSHS
PetroMag
43
WESTERN
152.0
150.7
0.9
462.4
418.1
10.6
SOUTHERN
124.1
154.6
(19.7)
364.6
487.5
(25.2)
ALL INDIA
436.8
450.6
(3.1)
1309.0
1333.8
(1.9)
NORTHERN
BITUMEN
126.6
160.4
(21.1)
394.2
478.0
(17.5)
EASTERN
54.6
59.9
(8.9)
188.4
204.5
(7.9)
WESTERN
99.5
160.5
(38.0)
433.9
552.2
(21.4)
SOUTHERN
96.4
81.5
18.3
331.8
303.1
9.5
377.1
462.2
(18.4)
1348.3
1537.8
(12.3)
NORTHERN
22.2
20.2
9.7
61.0
49.9
22.3
EASTERN
13.5
11.7
14.6
34.4
31.0
11.1
WESTERN
45.9
38.5
19.4
142.1
98.7
43.9
SOUTHERN
22.5
21.3
5.6
62.4
56.1
11.3
104.1
91.7
13.4
299.9
235.6
27.3
NORTHERN
3860.7
3778.0
2.2
11909.7
11394.4
4.5
2
EASTERN
1731.8
1692.5
2.3
5288.8
5098.7
3.7
WESTERN
3423.2
3389.4
1.0
10730.7
10182.0
5.4
SOUTHERN
3211.3
3167.2
1.4
9723.2
9690.3
0.3
12227.0
12027.
2
1.7
37652.3
36365.5
3.5
ALL INDIA
LUBES/GRS.
ALL INDIA
TOTAL 10 PRODUCTS
ALL INDIA
PetroMag
44
ALL INDIA SECTORWISE HSD-Direct SALES
Volume - MTs
SECTOR
Agriculture
APRIL MAR.
2014
%GROWTH
2015-16
2014-15
%GROWTH
8373
8992
(6.9)
26908
22453
19.8
Auto. Manuf.
12175
7445
63.5
35099
20081
74.8
Cement
14139
9055
56.1
40366
27406
47.3
Coal
45777
44207
3.6
142412
133216
6.9
Defence
22297
25794
(13.6)
60495
70774
(14.5)
Fisheries
6761
9188
(26.4)
45135
55808
(19.1)
Steel
8780
8322
5.5
24789
23703
4.6
Marine
52395
58519
(10.5)
172975
192581
(10.2)
Mining
20310
13995
45.1
63155
42036
50.2
Others Pvt.
153541
95745
60.4
489913
310041
58.0
Infras. Develop.
21312
7737
175.5
64323
22459
186.4
Others Govt.
19131
14799
29.3
57293
46107
24.3
Power Plants
14088
13220
6.6
40491
38779
4.4
Railways
222743
221455
0.6
659910
649526
1.6
STUs
211933
10174
1983.1
627672
28432
2107.6
Sugar
1927
422
356.3
8360
977
755.9
Textiles
6869
4104
67.4
20611
14081
46.4
Paramilitary
Civil Construction
304
842550
553173
52.3
2580210
1698459
51.9
Total
PetroMag
JUNE
2015
45
CATEGORY WISE FO/LSHS UPLIFTMENTS (FIG. IN TMT)
SECTOR
Power
Fertiliser
JUN
PRODUCT
Variation
APRIL- MARCH
Variation
% Share
2015
2014
+/-
2015-16
2014-15
+/-
10.8
19.5
-8.7
26.9
73.7
-46.8
LSHS
3.1
8.6
-5.5
11.5
57.6
-46.1
Total
FO
13.9
28.1
-14.2
38.4
131.2
-92.8
FO
7.7
19.6
-11.9
31.3
49.9
-18.6
LSHS
0.0
0.0
0.0
0.1
0.1
0.0
Total
7.7
19.6
-11.9
31.4
50.0
-18.6
11.8
13.8
-2.0
34.8
41.5
-6.7
LSHS
1.8
2.1
-0.3
17.1
7.2
9.9
Total
13.7
16.0
-2.3
52.0
48.8
3.2
FO
10.1
17.5
-7.4
44.8
41.2
3.6
LSHS
4.0
6.8
-2.9
11.1
15.9
-4.8
Total
14.0
24.3
-10.3
55.9
57.1
-1.2
FO
51.7
59.7
-8.0
181.1
172.6
8.5
LSHS
0.3
1.2
-0.8
0.4
1.9
-1.5
Total
52.0
60.9
-8.9
181.5
174.4
7.0
333.5
295.6
37.9
942.1
852.7
89.4
LSHS
2.0
6.2
-4.2
7.8
19.5
-11.7
Total
335.5
301.7
33.7
949.8
872.2
77.6
FO
425.6
425.7
-0.1
60.
1231
29.4
LSHS
11.2
25.0
-13.8
48.1
102
-54.1
Total
436.8
450.6
-13.8
130
1333
-24.7
CY/CUM
2.9%
2.4%
Petrochemicals
FO
Steel
Other
General Trade
TOTAL
FO
4.0%
4.3%
13.9%
72.6%
%100
CATEGORYWISE NAPHTHA UPLIFTMENTS (FIG. IN TMT)
CATEGORY
POWER
FERTILISER
JUNE
APRIL- MARCH
2015
2014
Variation
% SHARE
2015-16
2014-15
Variation
%SHARE
48
-46
0.2%
15
221
-206
0.6%
23
41
-19
3.1%
43
76
-33
1.7%
703
798
-95
96.6%
2438
2357
80
97.6%
STEEL
0.0%
0.0%
OTHER
0.1%
0.1%
728
888
-160
100.0%
2499
2657
-158
100.0%
PETROCHEM
GRAND TOTAL
PetroMag
46
CRUDE OIL PRODUCTION
Crude Oil Production (Figs in TMT) during the month of JUNE, 2015
Production During the..
Name of the
Undertaking / Unit
Month under
review*
Cumulative Production
Corresponding month Preceding month

last year
of current year
Actual Prodn.
During current
year
Actual Prodn.
Corresponding
period last year
JUNE
JUNE
MAY
Apr-Mar
Apr-Mar
2015
2014
2015
2015-16
2014-15
Production of
Crude Oil
1. ONGC
1853.838
1850.929
1905.047
5568.918
5504.316
Onshore
472.584
510.903
486.097
1438.478
1576.724
Andhra Pradesh
25.748
23.144
24.804
74.555
71.832
Assam
79.828
93.129
82.782
242.264
288.295
345.758
374.868
355.093
1055.453
1155.206
21.250
19.763
23.418
66.206
61.392
1381.254
1340.025
1418.950
4130.440
3927.591
Eastern Offshore
1.773
0.983
1.938
5.641
3.152
Western Offshore
1268.076
1210.888
1299.139
3779.332
3531.722
Condensates
111.405
128.154
117.873
345.467
392.717
2. OIL (Onshore)
271.279
277.921
284.991
836.980
835.439
Assam
270.867
277.330
284.566
835.730
833.493
0.412
0.591
0.425
1.250
1.946
3. DGH (Private /
JVC)
975.888
993.123
994.381
2899.609
3046.362
Onshore
746.510
768.515
766.889
2232.785
2370.099
4.113
6.320
4.255
12.588
20.341
11.592
11.936
13.101
35.320
38.554
Rajasthan
730.805
750.259
749.533
2184.877
2311.204
Offshore
229.378
224.608
227.492
666.824
676.263
Eastern Offshore
119.681
106.478
125.593
370.731
307.721
Gujarat Offshore
31.109
32.155
29.070
90.053
97.142
Western Offshore
78.588
85.975
72.829
206.040
271.400
Gujarat
Tamil Nadu
Offshore
Arunachal Pradesh
Arunachal Pradesh
Gujarat
PetroMag
47
NATURAL GAS PRODUCTION
Natural Gas Production (Figs in TMT) during the month of JUNE, 2015
Name of the Undertaking / Unit
Month under
review*
Corresponding
month last year
Actual Prodn.
Preceding month of Actual Prodn. During
Corresponding period
current year
current year
last year
JUNE
JUNE
MAY
Apr-Mar
Apr-Mar
2015
2014
2015
2015-16
2014-15
Production of Natural Gas

1. ONGC
1803.510
1908.696
1898.479
5483.090
5653.368
Onshore
385.354
452.820
401.053
1179.384
1350.061
48.763
89.256
52.691
154.381
275.261
Andhra Pradesh
Assam
32.576
38.821
35.297
101.185
116.469
112.305
120.762
118.832
349.029
365.309
Rajasthan
0.377
0.072
0.719
1.775
1.227
Tamil Nadu
94.786
106.805
97.149
280.447
329.923
Tripura
96.548
97.104
96.365
292.567
261.872
1418.157
1455.875
1497.426
4303.706
4303.306
Gujarat
Offshore
Eastern Offshore
21.047
1.295
21.964
64.323
4.103
Western Offshore
1397.109
1454.581
1475.462
4239.383
4299.204
2. OIL
225.044
222.542
221.789
641.642
676.858
Assam
207.272
212.963
208.900
598.049
636.649
1.045
0.909
1.084
3.144
3.211
16.727
8.670
11.805
40.449
36.998
694.371
763.197
731.940
2119.835
2276.062
Arunachal Pradesh
Rajasthan
3. DGH (Private / JVC)

Onshore
91.625
80.559
97.084
278.843
229.969
Arunachal Pradesh
1.702
1.773
1.669
5.041
4.976
Gujarat
7.861
8.773
8.183
23.713
26.896
Rajasthan
82.062
70.013
87.232
250.089
198.097
CBM
32.107
17.641
32.151
94.242
52.734
0.077
0.196
0.097
0.264
0.638
Jharkhand (CBM)
Madhya Pradesh (CBM)
0.167
0.270
0.175
0.496
1.327
31.863
17.175
31.879
93.482
50.769
Offshore
570.639
664.997
602.705
1746.750
1993.359
Eastern Offshore
377.620
424.768
403.165
1169.418
1282.296
Gujarat Offshore
6.195
10.871
4.059
14.019
33.295
186.824
229.358
195.481
563.313
677.768
2722.925
2894.435
2852.208
8244.567
8606.288
West Bengal (CBM)
Western Offshore
TOTAL (1+2+3)
CBM
32.107
17.641
32.151
94.242
52.734
Onshore
702.023
755.921
719.926
2099.869
2256.888
Offshore
2100.131
2178.234
1961.530
4061.660
4175.793
PetroMag
48
REFINERY PRODUCTION (CRUDE THROUGHPUT)
(FIGs. IN TMT)
Refinery Production (Crude Throughput) during the month of JUNE, 2015
Name of the
PSU /Private CO
Undertaking / Unit
Refinery Production

Month under review*
Corresponding month Preceding month of

last year
current year
Actual Prodn. During

current year
Actual Prodn.
Corresponding period last
year
JUNE
JUNE
MAY
Apr-Mar
Apr-Mar
2015
2014
2015
2015-16
2014-15
(In terms of crude)

Public Sector
1. IOC, Guwahati
2. IOC, Barauni
10558.629
9481.814
10601.054
30588.411
28303.754
93.288
79.427
95.257
282.067
244.436
541.215
549.075
527.142
1542.776
1651.220
3. IOC, Koyali
1176.205
1026.354
1204.387
2984.377
3314.592
4. IOC, Haldia
667.002
666.018
662.709
1976.822
1952.199
5. IOC, Mathura
732.791
691.154
699.131
2107.316
2189.028
51.361
54.468
55.185
135.720
149.547
1212.379
773.798
1366.430
3871.890
2840.316
200.486
166.748
230.727
667.097
524.493
Total IOC
4674.727
4007.042
4840.968
13568.065
12865.831
9. BPCL, Mumbai
1056.418
1076.384
1163.692
3356.624
2888.364
902.920
923.418
928.148
2724.945
2476.540
6. IOC, Digboi
7. IOC, Panipat
8. IOC Bongaigaon
10.BPCL, Kochi
Total BPCL
1959.338
1999.802
2091.840
6081.569
5364.904
11. HPCL, Mumbai
652.845
526.765
419.209
1623.206
1397.009
12. HPCL, Visakh
588.392
659.790
807.387
2134.609
1879.130
1241.237
1186.555
1226.596
3757.815
3276.138
Total HPCL
13. CPCL, Manali
905.605
879.251
907.236
2712.872
2658.556
14. CPCL,
Narimanam
48.103
33.262
43.315
130.497
160.542
Total CPCL
953.708
912.513
950.551
2843.369
2819.098
15. NRL, Numaligarh
260.817
254.676
150.793
413.071
724.557
1463.305
1116.636
1336.096
3910.816
3241.359
5.497
4.590
4.209
13.705
11.867
16. MRPL,
Mangalore
17. ONGC, Tatipaka
Joint Venture Sub
Total
1498.104
1233.956
1496.264
3891.776
3871.129
18. BORL, Bina
601.084
561.456
571.135
1173.733
1489.335
19. HMEL, Bhatinda
897.020
672.500
925.129
2718.043
2381.795
Private Sector $
7426.965
7410.064
7607.833
21797.245
21825.368
1. RPL, Jamnagar
2713.896
2603.000
2740.206
7477.962
7225.384
2. RIL, SEZ
3023.283
3100.000
3104.019
9147.458
9459.000
Total RIL
5737.179
5703.000
5844.225
16625.420
16684.384
Essar Oil (EOL),

Vadinar
1689.786
1707.064
1763.608
5171.825
5140.984
19483.698
18125.835
19705.151
56277.432
54000.251
TOTAL
PetroMag
49
IMPORT / EXPORT CRUDE & PETROLEUM PRODUCTS
IMPORT/EXPORT
TOTAL CRUDE OIL
April 2015-Mar.2016 (000 MT)

MAR
APRIL
MAY
April 2015-Mar 2016 (Rs. Crore)
TOTAL
MAR
APRIL
MAY
TOTAL
16489
15495
17495
32989
38126
39321
48076
87397
845
685
824
1509
2776
2270
2740
5010
44
120
154
274
186
517
742
1259
123
108
137
244
514
443
569
1012
SKO/ KEROSENE
35
35
132
132
HSD/ DIESEL
15
37
40
40
81
150
149
149
298
942
894
894
1788
FUEL OIL/LSHS
61
50
85
135
231
192
287
478
BITUMEN
36
42
42
84
122
131
131
263
629
626
626
1252
1117
1018
1016
2033
PRODUCTS
LPG
MS/ PETROL
NAPHTHA/ NGL
LOBS/ LUBE OIL
OTHERS
TOTAL PRODUCT IMPORT
TOTAL IMPORT
1893
1824
2024
3847
5925
5637
6419
12056
18383
17318
19518
36837
44050
44958
54495
99452
28
24
19
43
118
102
82
184
EXPORT
LPG
MS/ PETROL
1067
935
1341
2276
4114
3797
6089
9886
NAPHTHA/ NGL
438
576
492
1068
1397
1930
1764
3694
ATF
563
153
260
414
1944
550
993
1542
HSD/ DIESEL
1815
1366
1495
2862
6092
4852
5700
10552
SKO/ KEROSENE
LDO
LOBS/ LUBE OIL

FUEL OIL/LSHS
BITUMEN
OTHERS
TOTAL PRODUCT EXPORT
NET IMPORT
PetroMag
20
27
372
363
498
861
722
727
1131
1858
10
17
14
22
35
568
313
424
737
1439
803
1214
2017
4855
3743
4542
8285
15845
12797
17006
29803
13528
13575
14976
28551
28205
32160
37489
69649
50
POSITION OF PETROLEUM TANKERS AT MAJOR PORTS 03 AUG - 2015
APROX.
PORT
VADINAR
VESSEL
ARRIVED
CARGO
QTY: Figs.
in MT
COMMENT
30JUL15
CRUDE
50271
ANHCORAGE
29JUL15
CRUDE
193287
ANCHORAGE
31JUL15
LSFO
40000LDG
ETC 03/08
31JUL15
MOGAS
60000LDG
ETC 02/08
25JUL15
CRUDE
283113
ETC 02/08
31JUL15
HSD
70000LDG
ANCHORAGE
AFRAMAX RIVIERA
28JUL15
CRUDE
45707
ANCHORAGE
DESH PREM
31JUL15
CRUDE
90000
ETC PM01/08
DESH BHAKT
01AUG15
CRUDE
90000
ANCHORAGE
31JUL15
CRUDE
280000
ETC 03/08
28JUL15
ATF
65000LDG
ETC 02/08
22JUL15
NAPHTHA
60000LDG
ETC 02/08
MAHARSHI PARSHURAM
FORMOSAPETRO
VAD (ESSAR)
SPLR/BYR
CHALLENGER
SAETTA
JAG APARNA
TRAFIGURA
DIONA
ATHINA
JAMNAGAR
S.ARAMCO
DHT HAWK
BREEZY VICTORIA
M.STANLEY
FLAGSHIP IVY
OCEAN QUEST
24JUL15
HSD
100000LDG
ETC 02/08
HYUNDAI SUN
29JUL15
CRUDE
270000
ETC 02/08
MARTIME VANESSA
28JUL15
NAPHTHA
20000LDG
ETC 02/08
PIKE
24JUL15
ATF
65000LDG
ANCHORAGE
OLYMPIC SPIRIT 2
29JUL15
VGO
75000
ANCHORAGE
MARITIME RIYAL
29JUL15
NAPHTHA
20000LDG
COASTAL
ELECTA
26JUL15
NAPHTHA
25000
ANCHORAGE
26JUL15
NAPHTHA
35000LDG
ANCHORAGE
CSC CRYSTAL
GUNVOR
CARGILL
DESH GAURAV
16JUL15
CRUDE
86000
ANCHORAGE
SLOMAN HERA
27JUL15
HSD/ MOGAS
15000LDG
COASTAL
27JUL15
CRUDE
60000
ANCHORAGE
JAG PUSHPA
28JUL15
HSD
40000LDG
ANCHORAGE
OLYMPIC SPIRIT 2
29JUL15
VGO
75000
ANCHORAGE
EAGLE MELBOURNE
30JUL15
MOGAS
40000LDG
ETC PM01/08
31JUL15
HSD
35000LDG
ANCHORAGE
JAG PRANAV
01AUG15
HSD
90000LDG
ANCHORAGE
FORMOSA
HERMITAGE BRIDGE
P. CHALLENGER
GLENCORE
STI LEXINGTON
01AUG15
HSD, MOGAS
40000LDG
ANCHORAGE
MUNDRA
EUROHOPE
01AUG15
CRUDE
137802
ANCHORAGE
KANDLA
JAG PRABHA
01AUG15
HSD MOGAS
21000
ANCHORAGE
DAHEJ
NIL
HAZ
NIL
MUMBAI
PYXIS THETA
31JUL15
NAPHTHA
35000LDG
ETC 03/08
OAKTREE
31JUL15
MOGAS
25000LDG
ETC PM01/08
SWARNA GODAVRI
31JUL15
CRUDE
50000LDG
ETC AM02/08
CHANG HANG KAI TOU
30JUL15
NAPHTHA
30000LDG
ANCHORAGE
A K AZAD
31JUL15
CRUDE
50000LDG
ANHCORAGE
DAWN MANSAROVER
31JUL15
CRUDE
21000LDG
ANCHORAGE
DAB
NIL
JNPT
FPMC 20
PetroMag
GUNVOR
ANCHORAGE
OTI
13JUL15
NAPHTHA
18000LDG
ETC PM01/08
51
GP T1
21JUL15
F.OIL
12000LDG
ANCHORAGE
SANMAR SERENADE
22JUL15
HSD/ MOGAS
22000
ANCHORAGE
SWARNA SWARAJYA
27JUL15
MOGAS
4600
ANCHORAGE
30JUL15
CRUDE
97000
ETC PM01/08
26JUL15
HSD
66000LDG
ANCHORAGE
GOA
NIL
KARWAR
NIL
MANGALORE
DESH SURAKSHA
SCIROCCO
VITOL
UNITED JOURNEY
26JUL15
CRUDE
90000
ANCHORAGE
KOCHI
VEDIKA PREM
31JUL15
HSD, MOGAS
22000, 15000
ETC 02/08
TUTICORIN
NIL
CHENNAI
FOURSMILE
16JUL15
CRUDE
129590
ETC AM03/08
01AUG15
HSD
8000
ETC 02/08
23JUL15
CRUDE
133818
ANCHORAGE
30JUL15
MOGAS
12000
ANCHORAGE
VICTORY
28JUL15
HSD
13834
ANCHORAGE
DAWN DWARKA
21JUL15
POL
11000
COASTAL
SANMAR STANZA
28JUL15
POL
35700
ANCHORAGE
DAWN HARIDWAR
ERVIKEN
ENNORE
MORHOLMEN
PETROCHINA
KAKINADA
NIL
VIZAG
HANSA PREM
28JUL15
HSD, SKO
19566,18667
ETC 02/08
HELLAS EXPLORER
27JUL15
MOGAS
2000
ANCHORAGE
20JUL15
MOGAS
7868
ANCHORAGE
21JUL15
MOGAS
6500
ANCHORAGE
MOGAS, HSD, SKO
6500LDD
ETC 31/07
MOGAS/HSD 16984/10000LDG
ETC 31/07
ATLANTIC MUSE
UNIPEC
JAG PRERANA
PARADIP
NIL
HALDA
HARI SAGAR
29JUL15
DAWNMATHURA
20JUL15
PRUDENT
12JUL15
HSD
15478
ANCHORAGE
AKAMAS
21JUL15
F.OIL
16500
ANCHORAGE
ALPINE MAYA
22JUL15
HSD
13645
ANCHORAGE
SWARNA PUSHP
24JUL15
SKO/MOGAS
6111/ 6548
ANCHORAGE
LOURDES
25JUL15
F.OIL
6500LDG
ANCHORAGE
ORIENTAL RUBY
28JUL15
HSD
13594
ANCHORAGE
28JUL15
NAPHTHA
16500LDG
ANCHORAGE
28JUL15
HSD
NORD NIGHTANGLE
SANMAR MAJESTY
BBJ
PetroMag
NIL
PETROCHINA
4000
ANCHORAGE
ETC 01/08
52
POSITION OF LPG TANKERS AT MAJOR INDIAN PORTS- 29 JULY 2015

Figs. in MT
PORT
VESSEL
KANDLA
NIL
EXPECTED
MAGDALLA
NIL
ANCHORAGE
DAHEJ
NANGA PARVAT
SIKKA
NIL
MUMBAI
JNPT
ARRIVAL QTY(mts)
LOAD PORT
SUPPLIER
RCVRS
REMARKS
27/07 10000
SIKKA
RIL
RIL
ETC 29/07
WARINSART
28/07 8000
SOHAR
SHV
AEGIS
ANCHORAGE
COURCHVILLE
16/07 5000
SIKKA
RIL
RIL
ANCHORAGE
M.KRISHNATREYA
18/07 15000
RUWAIS
ADNOC
BPCL
ANCHORAGE
VAMADEVA
23/07 15000
RASLAFFAN
QATAR INT'L IOCL
ANCHORAGE
HISUI
25/07 15000
RASLAFFAN
QATAR INT'L BPCL
ANCHORAGE
ETS28/07
GOA
NIL
MANGALORE
IGLC DICLE
21/07 20000
RASTANURA
ARAMCO
JAG VISHNU
10/07 23000
RASLAFFAN
QATAR INT'L IOCL
IOCL
ANCHORAGE
KOCHI
NIL
TUTICORIN
NIL
CHENNAI
NIL
KAKINADA
NIL
ENNORE
AURORA TAURUS
11/07 46146
RASLAFFAN
QATAR INT'L IOCL
ANCHORAGE
ORIENTAL QUEEN
16/07 23800
RASLAFFAN
QATAR INT'L IOCL
ANCHORAGE
SISOULI PREM
12/07 44704
RASLAFFAN
QATAR INT'L IOCL
ANCHORAGE
M.BHARDWAJ
10/07 28400
RASLAFFAN
QATAR INT'L IOCL
ETC30/08
ARTEMIS
15/07 45574
RASLAFFAN
QATAR INT'L IOCL
ANCHORAGE
KAILASH GAS
21/07 -
RASLAFFAN
QATAR INT'L IOCL
ANCHORAGE
QATARINT'L IOPL
VIZAG
EXPECTED
ANCHORAGE
PARADIP
NIL
HALDIA
THETISGLORY
11/07 17500
RASLAFFAN
MONSOON
23/07 19226
VENUS GLORY
26/07 18200
YANBU
RASTANURA
ARAMCO
ARTEMIS
04/08 17000
RASLAFFAN
QATAR INT'L IOCL
EXPECTED
AURORA TAURAS
05/08 19740
RASLAFFAN
QATAR INT'L IOCL
EXPECTED
19/07 --
RASLAFFAN
QATARINT'L IOPL
KANDLA
M.BHRDWAJ
NIL
EXPECTED
EXPECTED
MAGDALLA
NIL
ANCHORAGE
DAHEJ
NIL
EXPECTED
SIKKA
NIL
ANCHORAGE
PetroMag
-IOPL
IOCL
ETS29/07
ANCHORAGE
ANCHORAGE
53
PRICE OF PETROLEUM PRODUCTS [Revised fortnightly]
BASIC PRICE in INR W. E. F. 17.07.2015

No.
Location
PetroMag
Selling
Unit
Product
Mumbai
(with St. Sur)
HSD FDZ
KL
45418.95
MS FDZ
KL
56624.52
SKO (IND)
KL
41779.00
FO (GEN)
MT
25107.52
FO (Guj)
MT
24973.05
HVFO
MT
24717.52
LDO
KL
33939.00
LSHS(GEN)
MT
26608.00
NAPHTHA (GEN)
MT
38048.00
10
SCN (REF.NAP)
MT
38298.00
11
LABFS
KL
34538.22
12
SBP
KL
50700.00
13
HEXANE
KL
41100.00
14
MTO
KL
48355.00
15
BENZENE
MT
54760.00
16
TOLUENE
MT
58800.00
17
MOLT SULPHUR
MT
11100.00
18
BITUMEN PACKED 80/100
MT
35808.00
19
BITUMEN BULK 80/100
MT
32708.00
20
MT
36608.00
21
BITUMEN BULK 60/70
MT
33508.00
22
MT
37828.00
23
BITUMEN BULK 30/40
MT
34728.00
24
BIODIESEL
KL
53000.00
NAPHTHA
LSHS
FURNACE OIL
ATF
KEROSENE
(W.E.F.
(W.E.F.
(W.E.F.
(W.E.F.
W.R.F
(01/07/2015)
01/07/2015
01/07/2015
01/07/2015
19/05/15
Delhi
40870
28200
26800
51267.35
12.73
Kolkata
40710
28320
26820
60781.86
12.27
Mumbai
40160
27590
26090
52592.75
12.28
Chennai
40530
28090
26590
56522.06
11.5
54
RETAIL SELLING PRICES OF MS HSD [Revised fortnightly]
(Prices in Rs./Litre)
HSD
Location
MS
(W.E.F.
(W.E.F.
(01/08/2015)
01/08/2015
LPG
LPG
(Non-subsidised)
Per 14.2 kg. Cylinder Per 14.2 kg. Cylinder
01/08/2015
01/08/2015
LPG
Auto Gas
Per 19.0 kg. Cylinder
(W.E.F.
17/06/2015
17/06/2015
Delhi
46.12
64.47
585
417.82
1046.5
40.16
Kolkata
49.66
69.15
619
419.82
1130.5
44.65
Mumbai
51.29
69.51
599
458.23
1111.5
44.87
Chennai
47.30
64.77
603.5
405.32
1234.5
42.07
Location
MS
(W.E.F.
01/08/2015
01/08/2015
Agartala
44.24
60.82
Gandhinagar
49.49
61.14
Aizwal
43.89
65.62
Ambala
46.49
68.05
Bengaluru
48.77
68.24
Bhopal
50.93
63.63
Bhubhaneswar
49.05
63.42
Chandigarh
46.84
65.36
Dehradun
49.06
67.76
Gangtok
48.56
65.3
Guwahati
46.74
64.42
Hyderabad
50.27
69.82
Imphal
44.38
61.07
Itanagar
44.19
61.5
Jaipur
49.12
67.41
Jammu
47.48
67.72
Jullunder
46.53
70.61
Kohima
44.88
63.71
51.6
71.68
48.19
59.12
49.7
68.9
Pondicherry
46.65
61.36
Port Blair
42.61
55.32
Raipur
49.25
63.9
Ranchi
49.15
63.45
Shillong
45.75
62.67
Shimla
46.68
66.63
Srinagar
49.62
70.4
Trivandrum
50.62
69.45
Lucknow
Panjim
Patna
PetroMag
HSD
(W.E.F.
55
The rate of Excise duty on various I&C products wef 01.03.2015

EXCISE DUTY RATES EFFECTIVE 01.03.2015
VIDE NOTIFICATION NO. 12/2015-CE DATED 01.03.2015, NOTIFICATION No. 14/2015-CE DATED\
01.03.2015 AND NOTIFICATION NO. 15/2015-CE DATED 01.03.2015
EFFECTIVE 01.03.2015 0:00 HRS
Education Cess @ 2% and Secondary and Higher Education Cess @1% leviable on all excisable goods are being merged with
Basic Excise Duty Rates w.e.f 01.03.2015
Tariff Heading
2503 00 10
2701
2710
2710 12 19
Description of Excisable
goods
SULPHUR - recovered as by
product in refining of crude
oil
All goods
Avgas
Motor spirit commonly known
as petrol,(i) intended for sale without a
brand name;
(ii) other than those specified
at (i)
2710 19 30
2710 19 30
2710 19 10
2710 19 10
2710 12 12
2710 19 20
2710 12 20
2710 12 11
2710 12 13
2710 12 19
2710 12 19
2710 19 20
2710 19 20
2710 19 40
2710 19 40
2710 19 50
2710 19 60
2710 19 70
PetroMag
New Excise Duty Rates

effective 01.03.2015
12.36%
1.03%
6.18%
Rs.8.95 per litre+ AED of RS.
2/- per litre+SAD of Rs.6/-per
litre +2% Ed. Cess and 1%
SHEC
Rs.10.10 per litre+ AED of
Rs. 2/- per litre + SAD of Rs.
6/-per litre +2% Ed. Cess and
1% SHEC
12.5%
1%
6%
Rs.5.46 per litre+ AED of Rs.

6/- per litre+SAD of Rs.6/-per
litre
6/- per litre + SAD of Rs. 6/per litre
High speed diesel (HSD),(i) intended for sale without a

brand name;
2710 19 30
Rate incl. EC & SHEC

effective till 28.02.2015
(ii) other than those specified

at (i)
HSD for bunker supplies to
Coastal Vessel
HSD for bunker supplies to
Indian Navy / Coast Guard
Kerosene for ultimate sale
through public distribution
system
SKO (Other than PDS)
Food grade hexane
Aviation turbine fuel
Natural Gasoline for general
use
SBP (55-115C)
SBP- Other Special Boiling
Point Sprit (Other than
Benzene, Benzol Toluene and
Toluol)
Reformate
Naphtha for General Use
ATF supplied to aircraft on
foreign run
ATF supplies to aircraft on
domestic run
LDO for general use
LDO for bunker supplies to
Coastal Vessel
Furnace Oil (Including
supplies to Coastal Bunkers)
Lube Oil Base Stocks &
Transformer Oil Base Stocks
Jute Batching Oil

2/- per litre + 2% Ed. Cess
and 1% SHEC
14% +Rs. 15 per litre or Rs.
10.25 per litre whichever is
lower + AED of Rs.2/- per
litre +2% Ed. Cess and 1%
SHEC
Nil+ AED of Rs. 2/- per litre +
2% Ed. Cess and 1% SHEC
Nil + Additional duty of
Rs.2.00 per ltr. +2% Ed. Cess
and 1% SHEC

6/- per litre
Rs. 6.62 per litre+ AED of

Rs.6/- per litre
Nil+ AED of Rs. 2/- per litre
Nil + Additional duty of
Rs.2.00 per ltr.
Nil
14.42%
14.42%
8.24%
Nil
14%
14%
8%
14.42%
14.42%
14%
14%
14.42%
14%+Rs.15/- per litre + 1%
Ed. Cess and 2% SHEC
14.42%
14%
14%+Rs.15/- per litre
14%
NIL
NIL
8.24%
14% + Rs.2.50 per ltr. +1%
14% + Rs.2.50 per ltr. +1%
8%
14% + Rs.2.50 per ltr.
14.42%
14%
14.42%
14.42%
14%
14%
14% + Rs.2.50 per ltr.
56
2710 19 80
2710 19 80
2710 19 90
2713 90 00
2710 19 90
2711 11 00
2711 12 00
27111400
2711 19 00
2712 20 00
2712 10 90
2713 11 00
2713 12 00
2713 20 00
2715 00 10
2713 90 00
2715 00 10
2711 14 00
2804 10 00
2901 22 00
2902 20 00
2902 30 00
2902 30 00
2901 29 90
2909 19 00
3403 19 00
3403 19 00
3819 00 10
3819 00 10
3902 20 00
PROCURED PRODUCT
2207 20 00
3811 19 00
3811 29 00
7311 00 10
7310 10 90
PetroMag
Lubricating Oil and Greases

(In bulk or > 25 litres/KG
packs)
Lubricating Oil and Greases
(packed in 25 litres/KG or
lower packs)
Flushing Oil
LSHS for general use
MINERAL TURPENTINE OIL
Liquefied Nathural gas
Liquefied petroleum gases
(LPG)
Ethylene, propylene, butylene
and butadiene
Bharat Metal Cutting gas
(BMCG)
WAXES
PETROLEUM JELLY
PETROLEUM COKE (not
calcined)
PETROLEUM COKE (calcined)
Petroleum Bitumen
Bituminous Mixtures Based
on Natural Asphalt
Other residues of petroleum
oils or oils obtained from
bitumineous minerals
Bituminous Mixtures
including Emulsions
ETHYLENE
Hydrogen
Propylene
BENZENE
TOLUENE
ZYTOL
PP FEED STOCKS
METHYL TERTIARY BUTYL
ETHER
LUBRICATING PREPARATIONS
(HAVING LESS THAN 70% OF
MINERAL OIL CONTENT) (In
bulk or > 25 litres/KG in
packs)
LUBRICATING PREPARATIONS
(HAVING LESS THAN 70% OF
MINERAL OIL CONTENT)
(Packed in 25 litres/KG or
lower packs)
HYDRAULIC BRAKE FLUID (In
bulk or > 25litres/KG
package)
HYDRAULIC BRAKE FLUID
Packed in 25litres/KG
package or less
Polyisobutelene
Ethanol
Anti-knock Preparations
Additives for Lubricating Oils
LPG Cylinder
Asphalt drum/metal
containers
14.42%
14%
14.42% on (MRP less 35%)

14.42%
14.42%
14.42%
Nil
14% on (MRP less 35%)

14%
14%
14%
Nil
8.24%
8%
14.42%
14%
14.42%
14.42%
14.42%
14%
14%
14%
14.42%
14.42%
14.42%
14%
14%
14%
14.42%
14%
14.42%
14%
14.42%
14.42%
12.36%
12.36%
12.36%
12.36%
12.36%
12.36%
14%
14%
12.5%
12.5%
12.5%
12.5%
12.5%
12.5%
12.36%
12.5%
12.36%
12.5%
12.36% on (MRP less 30%)
12.5% on (MRP less 30%)
12.36%
12.5%
12.36% on (MRP less 35%)

12.36%
12.5% on (MRP less 35%)

12.5%
12.36%
12.36%
12.36%
12.36%
12.5%
12.5%
12.5%
12.5%
12.36%
12.5%
57
BITUMEN PRICES- INTERNATIONAL Grade 60/70 & 85/100 in USD

FOB prices for Export Cargo Grade 60/70 & 85/100 in USD./MT
Bitumen FOB Price (Intl.) Revised Monthly (18-07-15)
Country
Iran
Bulk
Drum
305 320
365 395
Bahrain
380
Thailand
365 375
520 530
Singapore
355 365
Japan
360 370
Taiwan
345 355
BITUMEN PRICES NATIONAL Revised Monthly (16-05-15)
Bitumen FOB Price (Intl.) Revised Monthly (18-07-15)

BITUMEN (BULK)
PORTS
GRADES
VG-10
31490
32290
KOCHI
31490
32290
KOYALI
31490
32290
MATHURA
32690
33490
PANIPAT
32990
33790
HALDIA
30790
31590
CHENNAI
31590
32390
BARAUNI
31820
BITUMEN (PACKED)
PetroMag
VG 30
PORT REF(Mumbai)
VG-40
32860
32620
GRADES
PORT REF(Mumbai)
34490
35290
KOCHI
34490
35290
KOYALI
34490
35290
MATHURA
35690
36490
PANIPAT
35990
36790
HALDIA
34590
35390
58
MCX BHAV COPY
BHAV COPY MULTI COMMODITY EXCHANGE (MCX)
Date: 31-07-2015
Commodity
Contract
Month
Open
Todays
Todays
(Rs)
High
Low
Close
PCP
Volume
Value
(Rs)
(MT)/bbl
(Rs.Lakhs)
Open interest
000
CRUDEOIL
19/1/2016
3333
3333
3333
3333
3434
0.100
3.33
CRUDEOIL
18/12/2015
3329
3329
3277
3303
3359
0.600
19.82
18
CRUDEOIL
19/11/2015
3272
3275
3216
3259
3317
0.500
16.29
32
CRUDEOIL
19/10/2015
3206
3224
3140
3148
3245
12.800
407.59
226
CRUDEOIL
21/9/2015
3148
3165
3077
3085
3175
616.600
19243.76
2683
CRUDEOIL
19/8/2015
3030
3038
3132
19184
NATURALGAS
Contract
Month
NATURALGAS
25/9/2015
189.9
190.4
186
186.6
190
80.000
151.03
123
NATURALGAS
26/8/2015
182
182.5
177.8
178.1
181.7
1337.500
2409.64
441
NATURALGAS
28/7/2015
179.4
179.7
174.5
174.8
178.8
36870.000
65393.65
8198
PetroMag
3121
3121
Open
Todays
Todays
(Rs)
High
Low
Close
16530.100
508320.1
PCP
Volume
Value
(Rs)
(MT)/bbl
Open interest
000
(Rs.Lakhs)
59
TENDERS
Tenders for the Month of JULY, 2015
Tender Name
Tender Authority
Nature Of Work
Laser Alignment Kit for Paradip

Refinery Project
( Asst. General Manager ) C&P

Engineers India Ltd.,
Tower-1, 1st Floor, Sector-16,
Gurgaon 122001
091-124-3802000 / 2099 /
2136
Bids were invited for laser

alignment kit for Paradip
Refinery Project at Paradip in
Jagatsingpur district of
Odisha.
Construction of Residential Buildings,

Service Buildings for Firefighting
Station at Bina Project
( General Manager )
Northern Coalfields Ltd.,
Civil Engineering Department,
PO: Singrauli Colliery,
Singrauli, - 486889
07805-256431 / 266588
Waste Heat Recovery System at

Visakhapatnam Refinery
( Dy. General Manager )

Hindustan Petroleum Corpn.
Ltd.,
Visakh Refinery, Malkapuram,
Visakhapatnam 530011
0891-2894331 / 2894325
02-Jul-2015
Bids were invited for

construction of residential
buildings, service buildings
and development work for
firefighting station at Bina
project in Sagar district of
Madhya Pradesh.
GM(C)/SGR/15-16/ETN-20
Date:14.05.2015
05-Jun-2015
Bids were invited for waste

heat recovery system at
Visakhapatnam Refinery in
Andhra Pradesh.
15000019-HD-46009
05-Jun-2015
HMLKG15050
06-Jun-2015
A16VC15001
08-Jun-2015
PLCC/MPPL RPL/CL/1515
08-Jun-2015

mechanical, civil, structural,
insulation and other allied
jobs for installation of LGOCR
vs Crude heat exchangers in
2nd crude distillation unit
(CDU-II) at Haldia refinery in
Midnapore district of West
Bengal.
Bids were invited for hiring of
Oil & Natural Gas Corpn. Ltd., natural gas compression
Hiring of Natural Gas Compression
Material Management
services at GGS-North
Services at GGS-North Gandhar
Department, Ankleshwar
Gandhar for A capacity of
[Corrigendum]
Asset, Ankleshwar,
55000 to 60000 SCMD for A
Bharuch
Period of three (3) years in
Gujarat.
( Dy. General Manager ) Bids were invited for
Replacement of Approx 72 Km, 22 OD (Contracts)
replacement of approx 72 km,
Operational Pipeline Section of Mundra- Indian Oil Corpn. Ltd.,
22 OD operational pipeline
Panipat Pipeline
Noida
section of Mundra-Panipat
120-2448410/ 407
pipeline.

GAIL/3130/56573/2015/SR
intelligent pigging of KG Basin
-05 (8000008022)
pipelines in line with SOP.
Date:08.05.2015
( Dy. General Manager )

Contracts
Bids were invited for pipeline
Pipeline Laying Works of Laying &
Mecon Ltd.,
laying works of laying &
Construction of Steel Pipeline for
Scope Minar,
construction of steel pipeline
Spurlines of Jagdishpur-Phulpur-Haldia Delhi 110092
for spurlines of JagdishpurPipeline Project (GT)
011-22401146 / 22401143 Phulpur-Haldia pipeline
/ 22401144
project (PH-1A)
cont-delhi@meconlimited.co.in
Indian Oil Corpn. Ltd.,
Refineries Division,
Bids were invited for EPCM
EPCM Services for BS-IV Project at
Headquarters, New Delhi,
services for BS-IV project at
Gujarat Refinery
Delhi
Gujarat Refinery.
011-71725713/ 71725435
Bharat Petroleum Corpn. Ltd., Bids were invited for
Consultancy Services for Elevated LPG Engineering & Projects
consultancy services for
Hot Flare System at Bina Dispatch
Department,
elevated LPG hot flare system
Terminal (BC)
E&P-Major Projects, First
at Bina Dispatch Terminal in
Floor, A-5&6, Sector-1, Noida, Sagar district of Madhya
PetroMag
Due Date
AKT/A317/1005-ML-MR013/41
( Chief Manager )
Refineries Division, Haldia
Mechanical, Civil, Structural, Insulation
Refinery,
of LGOCR vs Crude Heat Exchangers at
Midnapore
Haldia Refinery
03224-253023 / 223626 /
223644
misrap@indianoil.in
GAIL (India) Ltd.,

Intelligent Pigging of KG Basin Pipelines GAIL Bhavan', A.V.A. Boad,
in Line with SOP (GT)
Rajahmundry,
East Godavari 533103
Tender Number
08-Jun-2015
05/51/U999GAIL/001(I)
(8000007938)
09-Jun-2015
RHQCC15013
08-Jun-2015
1826 Date:19.05.2015
09-Jun-2015
60
Gautam Budh Nagar

201301
bpcleproc.in
( Chief Manager )
Refineries Division, Haldia
Processing of Oily Sludge to Recover
Refinery,
Slop Oil in 2015-16 at Haldia Refinery Midnapore
03224-253023 / 223626 /
223644
misrap@indianoil.in
( Chief Manager )
Refineries Division-Haldia
Civil & Structural Jobs for Offsite Works Refinery,
for FPU Project in Haldia Refinery
Midnapore
03224-223640 / 253023 /
223626 / 223687
misrap@indianoil.in
Pradesh.

processing of oily sludge to
recover slop oil in 2015-16 at
Haldia refinery in Midnapore
district of West Bengal.
HGNKG15042
10-Jun-2015
Bids were invited for civil and

structural jobs for offsite
works for FPU projects in
Haldia Refinery in Midnapore
district of West Bengal.
11-Jun-2015
Bids were invited for repair &

maintenance of
miscellaneous civil work in
GM(C)/SGR/15/ETN-22
Sector-B & C colony for 24
Date:16.05.2015
months time period at
Dudhichua project in Singrauli
district of Madhya Pradesh.
Bids were invited for painting
( Chief Manager )
of equipment, structurals and
Hindustan Petroleum Corpn. piping in DHDS unit, Merox-1
Ltd.,
& 2 units and D-SRU block
15000178-HD-46002/AG
Visakh Refinery, Malkapuram, excluding Tr-3 at
Visakhapatnam - 530011
Visakhapatnam Refinery in
Andhra Pradesh.
( Dy. Manager )
Petronet MHB Ltd.,
No.332, 1st Floor, Darus
Bids were invited for pipelines
Salam Building,
& equipment painting works
PMHBL/ENQ/PAINTING/15Queen's Road,
at PMHBL Mangaluru & Neriya
16/15
Bengaluru 560052
stations in Karnataka.
080-22262241 / 22262243
/ 2262316
( Chief Manager ) Contracts
Oil India Ltd.,
Refineries Division, Gujarat
renovation of B & BL type
Refinery,
JC15CLT136
quarters in Gujarat Refinery
Vadodara
Township.
0265-2237181 / 82
0265-2233380
( Chief Manager )
Bids were invited for cleaning,
Refineries Division, Mathura grit blasting & painting of
Refinery,
various tanks under M&I at
MRCC15C019/042
Mathura
Mathura Refinery in Uttar
0565-2417377 / 2417374 / Pradesh.
2417373
EoI was invited for
( Chief Manager ) - T&I/TS
empanelment of contractors
for annual rate contract for
Pipelines Division-NRPL
civil maintenance in pump
NRPL/PNP/TS/2015-16/17
Panipat,
station / terminal stations /
(Group-1)
Panipat
CP and RCP stations for
0180-2578890 / 2578870
Northern Region Pipeline,
manjeet@indianoil.in
Panipat in Haryana.
( Additional General Manager ) Bids were invited for drilling
- Contract Services-II
waste (drill cuttings & drilling
NTPC Ltd., 6th Floor,
waste mud) disposal services
CS-8001-722M-9
Engineering Office Complex, package for cambay basin
(40038613)
A-8A, Sector-24, Noida,
Oil/Gas exploration block CBDate:07.05.2015
Gautam Budh Nagar
ONN-2009/5 at Ahmedabad
201301
and Mehsana district in
0120-2410583 / 4946663 Gujarat.
( General Manager )
Repair & Maintenance of
Northern Coalfields Ltd.,
Miscellaneous Civil Work in Sector-B & Civil Engineering Department,
C Colony at Dudhichua Project
PO: Singrauli Colliery,
Singrauli, - 486889
12-Jun-2015
Painting of Equipment, Structurals &

Piping in DHDS Unit, Merox-1 & 2 Units
at Visakhapatnam Refinery
12-Jun-2015
Pipelines & Equipment Painting Works

at PMHBL Mangaluru & Neriya Stations
Renovation of B & BL Type Quarters in

Gujarat Refinery Township
Cleaning, Grit Blasting & Painting of

Various Tanks under M&I at Mathura
Refinery
Empanelment of Contractors for Civil

Maintenance in Pump Station /
Terminal Stations / CP & RCP Stations
for Northern Region Pipeline, Panipat
(EoI)
Drilling Waste Disposal Services

Package for Cambay Basin Oil/Gas
Exploration Block CB-ONN-2009/5 at
Ahmedabad & Mehsana
PetroMag
15-Jun-2015
17-Jun-2015
17-Jun-2015
22-Jun-2015
24-Jun-2015
61
Chief Materials Manager

(Projects)
Testing & Workshop Equipment for
Refineries Division HQ, New
Paradip Refinery Project
Delhi,
Delhi011-71725765 /
71725232 / 71725682
sahais@indianoil.in
( Dy. General Manager ) (Ops)
Indian Oil Corporation Ltd.,
Operation & Maintenance of IOCs JNPT
Marketing Division, Indian Oil
Terminal, Mumbai
Bhavan-BKC, Plot No. C-33, GBlock, Bandra Kurla
Mumbai Suburban 40051
Cairn India Ltd., 3rd & 4th
Floor,
Provision of Drilling Services &
Vipul Plaza, Suncity, Sector
Tangibles (RJ-ON-90/1 block) (GT) (EoI) 54,
[Corrigendum]
Gurgaon
124-4593000
cilmedia@cairnindia.com
PetroMag
Bids were invited for testing

and workshop equipment for
Indian Oil's Paradip Refinery
Project in Jagatsingpur district
of Odisha.
PDRPIOCP46
25-Jun-2015
Bids were invited for operation

& maintenance of IOCs JNPT MSO/OPS/PT/O&M/JNPT/20
Terminal, Mumbai in
15-17/R
Maharashtra.
29-Jun-2015
EoI was invited for prequalification for provision of

drilling and petroleum
engineering services and
tangibles in RJ-ON-90/1 block
30-Jun-2015
62
EVENTS
Events Details
Date
mm/dd/yyyy
European Association of
Geoscientists & Engineers www.eage.org/event/index.php?eventid=1155&Op
Petroleum Geostatistics
endivs=s3
Biarritz, France
09/07/2015 - 09/11/2015
Gabon Local Content

Summit
Libreville, Gabon
www.gabon-local-content.com
07/06/2015 - 07/08/2015
SPE Latin American and

Caribbean Health, Safety,
Environment and
Sustainability Conference
Bogota , Colombia
http://www.spe.org/events/lahs/2015/
07/07/2015 - 07/08/2015
API Offshore Safe Lifting

Conference & Expo
Houston
www.api.org
07/14/2015 - 07/15/2015
API Offshore Safe Lifting

Conference & Expo
Houston TX , United States
http://www.api.org/events-and-training/calendarof-events/2015/offshore
07/14/2015 - 07/15/2015
SPE Nigeria Annual

International Conference &
Exhibition
Lagos , Nigeria
http://www.spe.org/events/calendar/
08/04/2015 - 08/06/2015
www.rmesummit.org
08/16/2015 - 08/20/2015
www.asiapacific.cwclng.com
09/08/2015 - 09/11/2015
www.oilandgasexpos.com
09/22/2015 - 09/24/2015
www.spe.org/events/ieme/2015/
09/15/2015 - 09/16/2015
www.pipelineweek.com
09/15/2015 - 09/17/2015
www.gpaeurope.com
09/16/2015 - 09/18/2015
www.mozambique-gas-summit.com
09/21/2015 - 09/24/2015
www.lnggc.com
09/22/2015 - 09/25/2015
EnerCom's Oil & Gas

Conference
Denver
World LNG Series: Asia
Pacific Summit
Singapore
Upstream & Downstream
Oil & Gas Exhibition &
Conference
Abuja, Nigeria
SPE Middle East Intelligent
Oil & Gas Conference &
Exhibition
Abu Dhabi
Pipeline Week
The Woodlands
GPA Europe Annual
Conference
Florence,
Mozambique Gas Summit
Maputo, Mozambique
LNG Global Congress
Conference (LNGgc)
London
PetroMag
Contact
63
CONTACT US
Director
A Bhattacharya
director@petroleumbazaar.com
Content / subscription:
Rhea
rhea@petroleumbazaar.com
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nilesh@petroleumbazaar.com
Circulation:
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Petroleum Bazaar Activities:

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Publications:
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64

PetroMag Issue Highlights Crude Prices Projects

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PetroMag

Issue 176 Monday 03 August 2015

If you can't explain it simply, you don't understand it well enough

Ministry of Petroleum and

Sanctions off, Iran oil ties get priority

We can process 170 types of crude oil today

PM favours export of surplus sugar, ethanol blending

Private oil players stress on marketing

Addl. Secretary & Fin. Advisor

HPCL trucks to use bio diesel

Special Secretary & FA

Bunk owners sell subsidised diesel on the black market

37% rural homes in Tamil Nadu use LPG, highest in country

Certain issues on GST that must be resolved

Modi reviews issues relted to sugar sector at high-level meeting

Fall in LPG cylinder prices come as relief for buyers

Piped natural gas connection launched in SN Puram

Jt. Secretary (Expl.)

73% of rural Bihar use kerosene for lighting

Coimbatoreans get to breathe some clean air

Jt. Secretary (M)

Ved Prakash Mahawar takes over as Director (Onshore), ONGC

Sudhir Sharma takes over as Director (Exploration), ONGC Videsh

Cylinder thief held at Mumbai's Charkop

Cops impound 150 Ola cabs after HC ban on diesel taxis

Dir (Supply& Pricing) Addl. Charge

NE Future, Oil & Natural Gas

Exxon and Chevron may soon see European sights

Adriatic oil, gas exploration raises concerns for Croatia tourism

Rosnefts $1 Billion Siberia Partner Backed by Chinese Investors

Survey finds oil, gas in Maldives

Sudan to Export 150 Thousand of Guar to United States of America

Chairman Executive Committee

Shayne Heffernan Oil Price Report

Russia, Algeria agree to boost cooperation in oil, gas sectors

Oil Industry Safety Directorate

Asian crude buyers size up Iran barrels

China moves to make the grade as a setter of oil price

National Productivity Council

Iran warns Opec it plans to recapture market share

Iran sees oil output up 1 mln bpd after curbs end

Russian oil production dips in July

Will China join the IEA?

Shells Japan Deal Signals Further Refiner Consolidation

OPEC Oil Production Falls as Iraqi Output Slips From Record

DHAKA: Govt makes abnormal profit from fuel oil

Waiting for the Second FLNG Wave

NEPAL: NOC slashes LPG price by Rs 35/cylinder

KARACHI: Sustainable Energy

Indonesia's Donggi-Senoro LNG project ships first cargo

Natural gas futures - weekly outlook: August 3 - 7

Bharat Petroleum Corp. Ltd.

Crude oil futures - weekly outlook: August 3 7

Nymex oil posts worst monthly drop of 2015

Saudi tumbles on oil, earnings; other markets also weak

IMPORT & EXPORT PORTWISE DATA

Import of Petroleum Products at Indian Ports during May 2015

Export of Petroleum Products at Indian Ports during May 2015

Import of Petroleum Products at Indian Ports during June 2015

Export of Petroleum products at Indian Ports during June2015

Oil & Natural Gas Corporation

Gujarat State Petroleum