News & Bulletin Updates

Here is a corporate battle between two E&P-related companies that seems to have gone completely out of hand.
8So much so that one has accused the other of falsely using its name and experience to continue working with ONGC
8The accuser has even taken out a newspaper advertisement to that effect

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8Here is a multinational that is awaiting orders to bid as EPC contractor in further downstream projects

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Jul 19, 2021: OPaL: Doing better

After a long struggle, ONGC Petro additions Ltd is on its feet
8A combination of greater feedstock availability and better capacity utilization seems to be providing results
8And ONGC plans to raise its stakes in the company
8But the company remains high indebted, and fixing that will take time

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8How are LNG netback prices calculated?
8And why for the Asian market JKM prices are the most relevant?

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The Cairn arbitration battle has opened up a can of worms in terms of sovereign powers and the ability of a company to extract an award in its favor.
8Cairn and Vodafone are not the only companies facing the brunt of Indian laws, there are others, with most recent case coming up last month
8Cairn’s enforcement kitty includes airlines, shipping corporation vessels, bank accounts, oil and gas fields and cargoes of the Indian state-owned enterprises

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As hydrogen gains in popularity, there is an understanding that hydrogen blending is possible in existing pipelines
8But are the questions there with respect to structural integrity? Will conventional pipelines be able to do the job?

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A major EPC contractor had to select from among four materials management software packages tailored to the unique processes of the oil & gas industry.
8One came out the winner

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8Indian state fuel retailers' gasoline sales exceeded pre-pandemic levels in the first fortnight of July, as motorists took back to the roads after states eased COVID-19-related lockdowns.

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8India's crude oil imports in June fell to their lowest in nine months, as refiners curtailed purchases amid higher fuel inventories due to low consumption and renewed coronavirus lockdowns in the previous two months.

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8Billionaire Mukesh Ambani-led Reliance Industries Ltd's plans for investing Rs 75,000 crore in solar, batteries, fuel cells and hydrogen could create valuation of USD 36 billion (Rs 2.6 lakh crore) for the new energy business, Wall Street brokerage Bernstein Research said in a report.

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8Fuel price has gone up because the international price for crude has shot up, the fuel price in India is linked to the international product price. We are working on increasing the reserves here in India by PPP, says Tarun Kapoor, Oil Secretary.

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8OPEC+ ministers plan to hold their next meeting on Sunday to decide on output policy, three sources within the producers group told Reuters on Saturday.

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C9 Solvent prices have escalated in the Chennai market, today. 

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Of the 14 carbon-neutral LNG cargoes5 that have been transparently traded, Shell supplied six from its global portfolio of LNG. Of the rest, Total and JERA each sold one, with the former from the Ichthys Field in Australia’s Browse Basin and the latter sourced from gas across Abu Dhabi’s onshore and offshore associated and non-associated fields. The remaining six included a range of participants.
8All but two of the 14 cargoes were purchased by Asian buyers for delivery to China, India, Japan, Korea, and Taiwan, with two cargoes purchased by Shell for delivery to Europe, with one from Gazprom and the other from Cheniere Energy
8Carbon-neutral LNG may constitute a tiny share of the LNG market now, but the trade holds the potential
8But the problem is are these cargoes really carbon neutral?

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Petrochem sources in Chennai reported a rise in dioctyl phthalate prices.

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The power ministry is looking at green hydrogen and ammonia production, and claims it will emerge as a leader.
8And it will entail purchase obligations though from the refinery and fertilizer segments

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On July 19, 2021, acetic acid prices moved down in the domestic market of Chennai.

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On July 19, 2021, mixed-xylene prices registered a rise in the Chennai market.

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On July 19, 2021, Petrochem sources confirmed that MIBK prices had slipped in the Chennai market.

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8A next-gen digital platform has been launched by the government to help farmers get personalised advisories in local languages
8Know more

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8Addressing the conference of Confederation of Indian Industry (CII) on “Aatmairbhar Bharat - Self Reliance for Renewable Energy Manufacturing”, the Union Minister of Power and New and Renewable Energy, RK Singh stated that India had emerged as world leader in the Energy Transition.

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Ammonia-Urea Brownfield Project
8Cost - Rs 6000 crore
8Project Event: 88% of construction work has been completed, Trial of 28.5 X 2 MW Captive power plant has been completed, also trial of 11 KW electric substation has been completed by Technip. Trial of DM water plant is ongoing . Construction of the ammonia plant has been completed. The commercial production is likely to start on 26 Jan 2022;.the incremental progress during June and July 2021 was 3 %. The installation work is ongoing in full fledged. The project is likely to be commissioned in December 2021.
Ammonium Nitrate Melt Greenfield Project
8Cost - Rs 200 crore
8Project Event: The Letter to bid for the LSTK contractor is already out and the bid due date has been extended from 16 July to 6 August 2021. and the scope of work is process licence, supply of basic design, detailed engineering, HAZOP studies and implementation of its recommendation, Procurement, and supply of all equipment, procurement and supply of spares as per spares philosophy mentioned in technical part and more.

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8Get a complete roundup of chemical price movement today, across all products and all markets
8Find out which prices have changed

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Phenol  prices have increased sharply in the Chennai market.

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Prices for IPA have been raised at Hazira.

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