The international crude oil price of Indian Basket was quoted at around $74.97 per barrel on July 14, 2021.

8One of the country's leading shipping company has withdrawn its vessels from ONGC's 14-vessel tender, claiming that it cannot keep waiting for the E&P major to open its bids
8This is expected to be a setback for ONGC, even though there are quite a few vessels in the tender to chose from

On July 14, 2021, dioctyl phthalate prices registered a rise in the Chennai market.

The oil & gas storage space is seeing some active private sector participation.
8A first-mover Indian company has now got equity participation from one of the world's largest names in the business
8The premium at which the stake has been sold is high but this is an exclusive space, the wriggle room is small, and entry barriers are huge
8For a multinational to get a toehold the price paid must indeed have been hefty
8So clearly, intrepid entrepreneurs are making a lot of money in the midstream space

A Chinese producer is heard to have announced its offer for PET in India.

On July 14, 2021, acetone prices were assessed lower in Chennai.

The politics of pipeline development in India is hemmed with intricacies, and the need to preserve monopolies will always be a never-ending quest.
8Here is one gas terminal seeking pipeline connectivity, and this is being opposed tooth-and-nail by another
8Eventually, the regulator has to decide how to go-ahead

Processes are being simplified by the petroleum ministry
8A set of new simplified processes have been put in place for E&P, and these could not have been notified without the sanction of the minister
8Clearly, while on the learning process, the minister is signaling that doing business in the petroleum sector should be made easier than before
8That is a good sign indeed

Fresh Polyethylene Terephthalate is being offered in India

The environmental clearance process is still going on for this evacuation pipeline from the LNG terminal
8And it will take quite a while from approval to actual commissioning
8Know more about the kind of environmental issues that the operator will have to sort out

8IT company HCL Technologies has signed a global agreement to provide digital transformation and managed services to The Mosaic Company
8HCL will manage Mosaic's global application and infrastructure environments to enhance the company's ability to drive growth in the marketplace

8BPCL now has a 100% stake in Bharat Oman Refineries Limited (BORL), which was recently increased from 63.38%, as BPCL purchased the stake from Oman Oil Company
8Rating companies find this development to be positive
Find out why

IOC will be needing a fresh lot of directors
8And the process of selecting them was delayed
8But the PESB logjam is now getting over
8Find out who are in the race for one such slot for which interviews are to take place this month

8A spike in fuel prices, which are near record highs, is not just impacting the inflation number but may be forcing consumers to cut nondiscretionary spending, including on health, as it eats into their consumption expenditure, a report by the State Bank of India’s research wing has said.

8U.S. oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, according to data released on Monday, as rising energy and share prices led to larger oilpatch deals.

Seismic data processing a complex job
8And the proof of the pudding is in the eating
8So ONGC has decided that eligible contenders should do a no-cost study first of a given sample, before they are qualified to bid
8Fair enough, it seems

8An urea tender is eventually out.

8Union Minister for Chemicals and Fertilisers has reviewed the initiatives of DOF for making India self-reliant in fertilizers
8Also, get an update on the status of Ramagundam fertilizer project and Matix Fertilizer Plant

8The Indian fertilizer sector has made continuous efforts to reduce specific energy consumption
8As a result of numerous measures, the average energy consumption of ammonia and urea plants has improved by more than 34% in the last three decades

Ammonia-Urea Greenfield Project
8Cost - Rs 5500 crore 8Project Event: The project is in the initial stage, The feasibility study/DPR has been completed, The company said that firstly they will do the Phos acid expansion project, but the hiring of contractors for the Ammonia-Urea project is likely to be completed within 2021. RFQ for the PMC is likely to be released in Q3 2021.
SSP Expansion Project
8Cost - Rs 15 crore
8Project Event: The project is still waiting for the approval of state authorities, all clearances are likely to be elicited in October 2021, central approval has been elicited. RFQ for the local contractor is likely to be released in Nov 2021.

N-butanol prices moved higher today in the Chennai chemical market.

Styrene monomer prices have been revised at Hazira.

Kandla registers new hexane prices.

A revision in MDC prices has been announced by GACL.

On July 14, 2021, ammonia (domestic intact) prices were quoted higher in the Ahmedabad market.