8The Delhi fiber market experienced a notable surge in the prices of FDY grade 150d today, According to sources from Indian Petrochem, the prices have increased by Rs.2/kg on October 3, 2024, from Rs.113/kg to Rs.115/kg

8In the latest development within the Delhi chemical market, the price of mancozeb, a widely used agricultural fungicide, has seen a marginal decline. Today, the price has fallen from Rs.174/kg to Rs.171/kg, registering a sharp cut of Rs.3/kg

8Carbendazim prices have sharply risen in Mumbai today. On October 3, 2024, carbendazim imported intact prices in Mumbai were up from Rs.436/Kg to Rs.438/Kg marking a significant rise of Rs 2/kg

8Today saw a sharp cut in Base oil (SN400) prices in the Delhi energy market, indicating a shift in market trends. On October 3, 2024, the price of the product dropped from Rs.86/Kg to Rs.85/Kg, marking a Re.1/Kg decrease

8LDPE (1070LA17) prices in the Chennai market were marginally higher today. According to Indian Petrochem analysts, prices have moved up from Rs.138/kg to Rs.139/kg

8Today, saw a cut in a Isopropyl Alcohol (IPA) prices within the Kandla Imported tanker load chemical market, indicating a shift in market trends. On October 3, 2024, the commodity's price dropped from Rs.99/Kg to Rs.97.5/Kg, marking a Rs.1.5/kg decrease. This decline underscores a fluctuation in market conditions within the chemical sector

8The Mumbai market has experienced a significant surge in Mixed Xylene (MX) imported tanker load prices. This increase is driven by a combination of tight supply conditions and rising demand from downstream industries, particularly in the production of chemicals and solvents.On October 3, 2024, Mixed Xylene (MX) prices in Mumbai were quoted higher from Rs.68/Kg to Rs70/Kg a hike of Rs.2/kg

There is a big rush to set up petrochemical plants in India
8There are these big four consultants who paint a rosy picture of petrochemical demand
8But there are some big roadblocks ahead. The market may in fact crash. And the rosy demand figures may not hold true.
8The rush by public sector units to set up sub-optimal capacities, in the context of capacities by RIL and other global players, must stop.
8There is the fond hope that the Indian government will create entry barriers to ensure Indian production stays shored up. But that may not happen or the protection may not be adequate.
8There are good reasons to stop and re-think

If you have a well-managed offshore E&P fleet
8There is very good money to be made in today's world
This company proves it

This is an interesting carbon capture and storage scheme floated some years ago by a private operator based on its UK experience
8But the problem is that it seems to be going nowhere, as funding is a problem
8Clearly, the institutional framework for such a project is lacking

For Rs 170 crore of investment, you get a 50% stake in an oil & gas block
8What you do is finance workover of legacy wells two new vertical wells and one horizontal wells
8Find out what the work programme is
8And it is time bound programme, find out where as a vendor you can fit in

8One company has come to monopolize the DG rental power supply business

Refinery unit heaters are essentially the monopoly of
8BHEL
8Thermax
8But there is also a more agile competitor in the picture

 Where India fails in Make in India is sometimes in the simplest of equipment
8From grinding machines to chain pulley blocks, from  Sling, from D Shackle to Flange Spreaders, from cable trays to screwdrivers, the list of equipment put out by IOCL for a contractor to use for his work, most of them are of foreign make or they are foreign brands
8There could be an argument that most of them are perhaps Made in India but there are very few domestic names in this big list. Also even in these simple tools, it is not known what component of each of these tools are imported.
8Clearly, Make in India has not made a dent where it matters most

It is easy to get month-old import data but it is difficult to solicit forthcoming shipment information in India. We go through a laborious process of data collection to get you full import information, including company-wise, quantity-wise, port-wise, and vessel-wise cargoes that are coming into India in the next 15-to30 days.
Get the daily updates for :
8LNG
8Crude
8Chemicals
8Fertilizers
8Coal and Coke
8LPG
8Ammonia
8All tankers
8Bulk and Dry cargo
8Port Update

DAP/NPK Greenfield Project
8Cost: Rs. 300 Cr.
8Project Event: The project is currently in its initial phase with activities on hold. It is expected to resume in Q1 2025.
Phosphoric Acid Expansion Project
8Cost: Rs. 500 Cr.
8Project Event: The feasibility study has been completed, and project activities are on hold. The project is expected to become active in December 2024, with the RFQ for the LSTK contractor likely to be released in Q1 2025

Does being on holiday under one oil & gas sector company not debar you from being blacklisted in the other public sector oil PSU?
8Apparently not
8For this one was put on a holiday in one but obtained an order from the other
8Is there more to it than meets the eye?

We are concentrated here in the oil & gas sector, forgetting that in the periphery, there are private-sector chemical plants that undertake expansions too
 Here is an update on
8Polyester Polyol Expansion:
Investment: INR 40 crores.
Return on Investment: IRR of 23%.
8Propylene Glycol (PG) Plant:
Investment: INR 94 crores with a 50:50 debt-to-equity ratio.
Return on Investment: IRR of 20.7%.
8Capacity: 32,000 MTPA using new technology to enhance product specifications.
Greenfield Expansion (Polyester Polyols):
Investment: INR 130+ crores.
Return on Investment: IRR of 30% with a 5-year payback period.

ONGC's use of a freshly hired 3000 HP rig is dependent upon two conflicting environmental versions of its usage
The environment ministry seems divided over allowing the rig to be used in a sensitive area
8Which version wins is what will provide the green signal for the rig to begin working, it seems

Halida Refinery is moving to LNG usage in its key units
8But have the cost economics been done correctly?

This refinery is kept to set up CBG units
8But does not want the risk of running them on their own
8Based on organic bio-waste, particularly using paddy straw, press mud, and other organic waste, they will run on a BOO or BOOT model
8There is however the assurance of a 100% buyback
8Let us see how many "partners" come out to join hands

India's quest for finding oil & gas in hydrocarbon-poor basins continues in earnest
8This looks like a search for the proverbial "El Dorado" search
8A new business opportunity has come out as well

Liquidity damages will be imposed on an entire lot of cementing units instead of a single unit that is delivered
8This is a mass order for high-pressure cementing units

IOCL is working on the following project as one contract
8Maleic Anhydride Unit (MAH): The core unit for the production of Maleic Anhydride.
8Butane Diol (BDO) and Tetrahydrofuran (THF) Unit: These chemical units produce valuable products used in various industrial applications.
8Feed Preparation Unit (FPU): Responsible for preparing raw materials for the core units.
8C4 Hydrogenation Unit: A critical chemical processing unit.
8Offsite Utilities and Associated Units: Supporting infrastructure required to operate and sustain the core chemical processes.
8But it looks like IOCL is adopting a learning-by-doing approach to it
8As pre-bid queries come in, so do the amendment. There multiple amendments
8And the last date for submission has been extended multiple times now

8In a significant development for the chemical industry, the price of titanium dioxide B101 has seen a notable decrease in the Delhi market today. The price drop comes amid a broader trend of price adjustments in raw materials, which is being closely watched by manufacturers and traders alike