News & Bulletin Updates

8It wants a stake purchase
8This may be good for intrepid entrepreneurs: Get a unit near-ready or ready, and then sell it off

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8The EOI for hydraulic fracturing under a “No Gain, No Pay” model now gives vendors more time to prepare submissions for a technically demanding, performance-tied project.
8The E&P owner plans to rejuvenate old wells through feasibility-driven fracturing—first evaluating 15 candidates and executing full-scale ops on 5 final picks.
8From CTU and NPU deployment to pressure logs and gain reports, bidders are expected to deliver end-to-end services with minimal hand holding.
8With DGMS, OMR, and performance-based clauses in place, only vendors with deep fracking portfolios, reliable rigs, and data modelling experience may qualify.
8Bidders must bring in modern, well-maintained fracturing fleets—signaling high technical scrutiny and stringent compliance filters.
8Final reports must show net pressure analysis, treatment curve matching, and production gain assessment—making engineering accuracy financially consequential.
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8Only two bidders seem interested

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Tight leash: BPCL mandates NABL lab tie-up and GPS site visit for Bhilai CBG tender
8Despite a modest project value, BPCL’s CBG Bhilai tender demands full NABL tie-up, site photographs, and exhaustive lab and field test compliance.
8Smaller players may find the entry barriers disproportionately high for the scope involved.
BPCL tightens grip: AFC piping risk tender allows no room for outsiders or MSMEs
8A rare no-CPBG, no-EMD risk assessment tender at Bina Refinery comes with a tightly drawn eligibility ring and zero relaxations for startups or MSMEs — all under a four-week dash to compliance.
Ethylene tankage: Bid deadline shifts thrice as EIL tweaks scope
8The package has seen three extensions, suggesting bidder unease or backroom re-tuning.
8But INR pricing for all imports reduces forex exposure but risks bidder discomfort, especially among global tank suppliers.
8EIL mandates INR pricing for all imports—reducing forex exposure but risking bidder discomfort, especially among global tank suppliers.
8The good part is steel input costs will be cushioned
Third deadline extension flags bidder strain in EIL’s electric heater tender for Dahej PDH-PP
8Multiple bid extensions in the EIL electric heater tender for the PDH-PP project at Dahej highlight vendor struggles — from NDA access delays to documentation bottlenecks under tight UOP technology protocols.
8EIL’s firm insistence on zero deviations contrasts with three successive deadline extensions — a sign that procedural rigidity met real-world compliance friction.
8With process tech governed by UOP, even minor design access needed tight licensing clearance — adding unseen layers to a supposedly limited-scope heater package.
Centrifugal pumps for bio-ATF plant: Bidder unease over abrasive specs and vague fluid data
8Three extensions hint at hesitation over solids-heavy pump duties and incomplete upstream information.
8Pump rated flow of 9.52 m³/hr proposed by vendor was dismissed, with EIL insisting on base spec of 4+MCF, reinforcing strict adherence to design basis.
8Despite pump model dependency, EIL has deferred crucial particle size and density data until post-award, shifting design liability to vendors.
8Repeated queries on operating pressure/temperature for CW and N? utilities remain unanswered, leaving design scope partially open-ended.
8Despite confirming API-610 rules, EIL’s silence on full acceptability of non-metallic impeller wear rings opens room for post-bid disputes.
Strict NDA bottleneck delays document access in IOCL’s Paradip polypropylene expansion EPCC tender
8Only Stage-1 qualified bidders are eligible, but even they face gated access to bidding documents unless they clear a rigid NDA protocol.
8The dual-layered secrecy clause involving IOCL and Basell could delay bid readiness and deter aggressive quoting.
8While IOCL ruled out reverse auction, power and steam consumption guarantees and loading clauses tilt risk toward bidders.
8The use of Spheripol process and associated catalyst technology attracts high control, possibly limiting newcomer participation.
EIL holds firm on non-negotiable fitting specs as BPCL’s Bina tender sparks bidder pushback
8Despite repeated vendor queries, EIL refused to revise oversized tee and reducer dimensions, citing adherence to legacy standards.
8Raw material flexibility granted, but dimensional rigidity may impact fabrication timelines and participation.

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Full house: All eight desalter bidders technically qualify for Bina refinery package
8BPCL’s high-stakes desalter tender saw 100% technical clearance with all eight bidders qualifying, suggesting strong vendor familiarity with electrostatic desalter specs and EIL’s evaluation rigour.
8Bid specs demand vendors meet outlet salt, BS&W, and OIW limits under two distinct feed cases—705 m³/hr at API 33.8 and 747 m³/hr at API 42—raising design complexity for universal compliance.
8EIL has retained tough output limits of 0.5 ptb for salt and 0.2 vol% for BS&W, despite industry feedback on varying feed conditions and wash water temperature dependencies.
8A technical amendment revised material specs, mandating SS410S for non-proprietary internals while allowing SS405 for piping, balancing corrosion resistance with cost rationalization.
Aggressive L1 Bid Raises Eyebrows in GAIL’s Sangrur small scale LNG Tender
8The L1 quote comes in 30–46% below competitors in GAIL’s Rs 10+ Cr LNG liquefaction EPC tender.
8The steep undercut raises feasibility and margin concerns.
8Future rounds may see lower participation if such pricing becomes the norm, especially from established mid-scale EPC firms.
Panchvati Sweeps Multi-Schedule Valve Tender Amid Aggressive Undercutting
8Over half the 47 schedules were bagged by Panchvati Valves through consistently low bids, signaling pricing pressure for rivals.
8Specialist firms held ground only in select high-value or technically complex items.
Thin Margin Win Flags Aggressive Undercutting in Air Fin Cooler Tender for PDH-PP Project
8A marginal 0.28% difference between L1 and L2 suggests fierce undercutting in Petronet LNG's PDH-PP air fin cooler award.
8The 35%+ jump to L3 hints at a polarized vendor field, with implications for pricing integrity in future packages.
Petronet heat exchanger order bagged at aggressive: L1 undercuts L2 by nearly 4%
8In a price war that left little room for comfort, Titanium edged out Isgec by a margin of less than 4%, showcasing how thin the margins are in current exchanger packages.
ISGEC takes heat exchanger order at near 10% discount over rivals in Dahej PDH-PP project
8Petronet LNG’s duplex heat exchanger tender sees L1 bid come in nearly 10% below the next best quote, signaling margin stress or aggressive pricing tactics amid rising alloy costs.

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8Get exclusive access to today's complete price matrix from the Mumbai chemical market
8Stay ahead with the latest rates and trends across key commodities and chemicals

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8Here are the roundup prices in India.

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Jun 11, 2025: Global Ammonia prices

8Get the latest prices here including trends over the past month

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8Here is the roundup price comparison chart for SE Asia , US Gulf, Middle east

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8Get the latest prices here including trends over the past month

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8Find out the latest roundup prices in India

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8The price was higher, find out by how much

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8The latest prices for Phosphoric acid in India

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8Here's what's happening today in the E&P, midstream-downstream, and CGD section

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8Additional session in auction market [IGX]
 
8Unified tariff and zonal apportionment for national gas grid system for FY 2025–26 (01.06.2025 to 30.06.2025) [PNGRB]
 
8India's natural gas demand projection for 2030–2040 [PNGRB]
 
8Corrigendum to financial result for the quarter and year ended on 31st March, 2025 [Confidence]
 
8Revised auditors' report (consolidated) for the year ended March 31, 2025 [MIL]
 
8First LNG vessel successfully discharged during monsoon season [GAIL]
 
8Investor presentation June 2025 [MGL]

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8Despite three amendments since 2020, the latest tariff order does not introduce any new price or zone reconfiguration
8This growing disconnect between policy evolution and pricing action is raising anxiety among shippers, who now face the prospect of a sharp recalibration after June.

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8As public sector doors remain shut, Reliance’s faith in Afcons reaffirms its execution credibility with a major petrochemical construction award.

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8The corridor to India’s ultra-deep waters opens wider as OIL modifies specs in response to global feedback.

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PNGRB's has just released an ambitious up to 2030 and then going on to 2040 gas demand report.
 8It  is rich in data and ambition, but like most forward-looking regulatory documents, it's optimistic, technocratic, and leaves many real-world frictions unexamined.
 Here is our take is:
 8CGD to Dominate India’s Gas Future — But Is the Backbone in Place?
 PNGRB Claim: CGD will be the largest driver of gas demand by 2040 — accounting for up to 270 mmscmd.
 Our View: Nearly a third of GAs still lack pipeline connectivity. Without aggressive execution, this demand surge may not materialize.
 
8LNG-Fuelled Trucking Revolution? Or Just Another Missed Bus?
 PNGRB Claim: India will have 5 lakh LNG trucks and 1000 fueling stations by 2040.
 Our View: From just 700 trucks and 20 stations today, the scale-up needs deep OEM, policy, and pricing alignment — none of which currently exist.
 
8Refineries & Petchem to Double Gas Use — But Will Naptha Still Win?
 PNGRB Claim: Gas demand from this sector will grow from 22 to nearly 60 mmscmd by 2040.
 Our View: Gas will only be viable if it stays cheaper than naphtha and fuel oil — something long-term price trends can’t guarantee.
 
8Fertiliser Growth Steady — But Import Substitution Still Unreliable
 PNGRB Claim: Fertiliser gas demand will remain stable, protected by subsidies and plant expansions.
 Our View: Plant-level outages, pipeline gaps, and policy shifts could undercut this stability — import substitution remains a fragile hope.
 
8Power Sector to Support Peak Demand — But High Cost Still a Drag
 PNGRB Claim: Gas-fired power demand will more than double by 2040, driven by peaking needs.
 Our View: At over Rs 6/unit, gas power is too costly unless peaking markets or capacity payments emerge to justify its role.
 
8I&C Sector Seen as Gas Growth Dark Horse — But Pricing Volatility Looms
 PNGRB Claim: Gas demand from SMEs and commercial units will grow 2–3x as they switch from FO, LPG, and diesel.
 Our View: These consumers are highly price-sensitive — any global LNG volatility or tax fluctuation could swing them back to liquid fuels.
 
8Steel’s Shift to Gas Hinges on Green Mandates, Not Market Forces
 PNGRB Claim: Gas-based DRI will gain traction as green steel gains importance.
 Our View: Without carbon pricing or compliance mandates, coal-based sponge iron will remain dominant due to lower cost.
 
8North-East Grid Expansion Is Promised — But Completion Remains Patchy
 PNGRB Claim: Projects like NEGG will unlock industrial demand in the North-East.
 Our View: NEGG is just 12% complete. Without faster execution, regional demand will lag for years.
 
8CBG Ambitions Are High — But Execution Rates Are Embarrassingly Low
 PNGRB Claim: 5000 plants and 5% CBG blending with CNG/PNG by FY29.
 Our View: Only ~120 plants are operational. Logistics, financing, and connectivity challenges remain unresolved.
 
8The Entire Projection Leans on LNG Below $9/MMBtu — A Global Gamble
 PNGRB Claim: CGD and LNG trucking demand hinge on steady, affordable LNG under $9.
 Our View: This assumption is risky — supply shocks or price spikes could derail India’s entire gas transition roadmap.

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CBG EPCOM Tender: Still a lot left unanswered
8Five extensions, relaxed tech norms, and revised civil specs hint at a recalibration by BPCL to widen bidder pool.
8Is this strategic or reactive?
8A strict PSA-only clause has been softened to include water scrubbing and membrane separation. More bidders can now qualify—but only with proven track records.
8BPCL now ties slurry fertilizer output quality to national Fertilizer Control Order norms, replacing earlier tender-specific definitions.
8Regulatory alignment comes with compliance headaches.
8In a surprise move, the minimum number of digesters is reduced by 50%. The change dramatically alters project design and CAPEX—raising capacity risk concerns.
8One Lumpsum code covers design, build, and 3 years of maintenance. Cost visibility suffers—masking bidder strategies and price balancing
PMC for CBG plant: Revised payment terms tip scales toward early-engineering gains
8Client boosts cashflow for Stage II PMC work by front-loading payments on drawing approvals, yet retains tight reins on later milestones.
8Clarification that cross-industry PMC experience counts widens the pool, yet weightage criteria remain opaque.
8Extending the bid window was the easy ask—harder lessons were the steadfast pushback on FM, termination notice, and baseline experience criteria

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GSPC’s Crane Tender Reveals Logistics Muscle for Onshore Fields
8GSPC’s latest call-out basis tender for 20MT cranes shows a ramp-up of support ops across four prolific blocks, indicating upstream activity continuity through FY25–26.
ONGC Floats Security Tender for Delhi HQ: 3-Year Turnkey Contract on Offer
8In a major move, ONGC is outsourcing security and loss prevention ops across ONGC and OVL's Delhi units. QCBS evaluation puts technical expertise in the spotlight.
8The SOW mandates only PSARA-licensed security personnel with NSQF Level 4–5 certification, indicating a push toward professionalisation and legal compliance in manpower deployment.
Woodland Works Bags High-Stakes OIL Tender at Rs 64.5 Cr
8Emerging as L1, Woodland Works India secures a Rs 64.5 crore contract for critical well servicing operations in Assam and Arunachal.
8More than 4x the L1 bid, Weafri Well Services' pricing raises critical questions—lack of local edge, outdated costing strategy or strategic misfire?
8Why did Bvishal Oil & Energy lose out?
8Coiled tubing, nitrogen and fluid pumping units form the backbone of this contract. With tight pricing and stringent timelines, the winning bidder must deliver CTU, NPU and FPU services across difficult terrain—will performance match promises?
NOV Gets Breathing Space on ONGC Tender
8With the new submission deadline now 24 June, NOV has more time to finalise its offer on ONGC’s direct procurement of critical rig monitoring hardware.

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CPCL green hydrogen tender extended: It is riddled with risk shifts, cost shocks, and legal blind spots
8From utility black-holes and reverse auctions to assignment bans and unclear payment formulas, CPCL’s multi-stage clarifications heap cost, risk, and financing burdens on bidders—threatening bankability and timeline integrity.
8By forcing bidders to arrange water, power, and roads, CPCL offloads crores of rupees in site-prep costs, and small EPC houses warn of budget blowouts.
8In a departure from typical BOO deals, CPCL’s insistence on reverse auction pricing leaves banks uneasy over razor-thin margins.
8Excluding renewable-linked tariffs drives LCOH up 25–30%, cutting off concessional green-funding paths.
8Restrictive encumbrance rules bar lenders from taking security, threatening project-level debt and equity structuring.
Relentless Deadline Extensions for IOCL Panipat HDPE LSTK: Five Pushbacks, One Unsettled Tender
8Despite multiple rounds of bidder clarifications, the tender for IOCL’s HDPE unit has now been pushed to July 1
8Is this commercial risk deferral or persistent technical misalignment?
8Despite multiple clarification rounds, bidders’ concerns around interfacing responsibilities, EM power specs, and cabling have not been closed, injecting interpretative risk.
8IOCL’s amendments haven’t addressed key financial comfort factors like validity extension or EMD clarification—leaving contractors exposed to liquidity risk.
8The pattern of pushing tender deadlines without corresponding scope freeze hints at a larger issue—either internal project uncertainties or an evolving negotiation strategy with select contractors.
PLL Hydrogen Tender Sees Repeated Extensions: Is the UOP template a problem?
8Petronet LNG’s PSA hydrogen package has seen three bid extensions, hinting at vendor hesitation likely triggered by aggressive financial qualification norms and restrictive UOP technology clauses.
8Is the UOP template deterring competition?
8Restricting LOC declarations to a single bank may choke out several capable but mid-sized players — a clear shift toward low-risk but low-competition bidding.
8UOP’s process control extends well into Indian contractor operations, triggering unease over data segregation and document handling.
8Subtle US-origin technology restrictions in NDA may be an impediment
PLL’s AS/RS tender undergoes recalibration: Pallet specs relaxed, but integration and fire norms tighten
8Amendments to Petronet’s Dahej warehouse automation tender reveal softened rack specs but stricter integration and safety enforcement.
8Key queries on pallet formats, fire scope, and ERP interface remain only partially addressed.
8Despite repeated queries, PLL has not revealed ERP architecture specifics — forcing bidders to rely on assumptions for critical interface planning.
8A revised vendor list may mark a shift in EIL’s procurement alliances — but transparency around inclusion criteria remains lacking.
8While pallet height has changed, no corresponding update was provided on how structural racking loads or seismic tolerances will be evaluated.
IOCL’s Auto-LNG strategy tender gets extension: Bidders scramble to meet deep-prep QCBS criteria
8In a sign of tightening standards, IOCL’s Auto-LNG consultancy bid now closes on 23 June.
8The QCBS-heavy tender demands elite credentials and multi-sector expertise — leaving little room for leaner bidders.
8IOCL demands consultancy insight spanning multiple fleet-intensive industries — hinting at a broader LNG use-case plan.
8IOCL expects consultants to double as tech advisors, infra analysts, and product forecasters — but with no extra time or payment scope mentioned.

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IOC’s strategic divestment & partnerships: Limited tender locks in Big 4 advisers
8IOCL’s invites only PwC, KPMG, EY, Deloitte and SBI Capital—no turnover or experience criteria, but a reverse auction with H1 knockout.
8Consultancy fees face downward squeeze, while fresh entrants find the door slammed shut.
8Standard portal terms belie a strategic move to concentrate consultancy in a closed circle of five.
8From kick-off to closure in just 60 days—advisers must move fast or forfeit performance security.
Virtual pre-bid meets mask deeper scope, timeline flex in Barauni Biturox tender
8IOCL’s online pre-tender forum on 11 Jun reveals bundled piling, extended 14 month schedule and tighter composite-EPCM criteria
8Lack of tank design or pile-test parameters in pre-bid docs exposes contractors to scope creep.
8Barauni tender follows Koyali’s 2024 model—owner aims to lock single contractor for end-to-end delivery.
8Vendors to seek detailed sulphur removal data for the 2×40 + 2×80 TPD SRUs—critical for bid accuracy.
Turnkey GIS package for PLL hikes contractor’s risk with all-inclusive design-to-commissioning scope
8The tender bundles engineering, equipment, spares and even fire alarm cabling into one lump-sum EPC contract—pushing cost overruns, schedule clashes and interface risks squarely onto the bidder.
8Lack of review-turnaround commitments exposes contractor to potential delay claims.
8While civil-electrical interfaces are detailed, allowable outage windows for switchyard cut-over remain unspecified.
New PP plant: Lack of market forces owner to look for plastic processors
8The refinery is trying to re-invent demand Strategic JV prospects and land support aim to lock in downstream investment.
8An unspecified IRR threshold may skew the playing field. It is an interest play but this has never worked before

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BPCL scraps Loni liaison tender amid process ambiguity: Scope termination raises deeper concerns
8The sudden cancellation of BPCL’s tender for pollution board approvals at Loni raises questions over procedural clarity and internal readiness.
8With tight completion timelines and zero part payments, bidder interest may have faltered.
Pipeline profile surveys across WRPL riverbeds spark intense bidder interest
8A limited tender for river-crossing surveys under WRPL has drawn seven bidders, but IOCL’s MSME-aligned EMD terms and scope segmentation into two groups may shape how competition unfolds.
8The absence of reverse auction also adds weight to technical scoring and early planning.
Seven vie for CO2 fire system as NRL ups the pace; EIL’s reply matrix leaves room for ambiguity
8The NRL fire protection tender sees high technical participation but EIL’s stock pre-bid responses and lack of scope alterations hint at tight timelines and rigid deliverables—potentially exposing bidders to unpriced risks.
8With 7 bidders, mostly non-MNC, the tender has drawn interest—but lack of big OEMs raises questions on attractiveness.
8With remote site installations and no water-based backup mentioned, the current fire strategy may raise audit flags.

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ONGC Extends RTDMMA Tender Deadline to 19 June
8The bid submission deadline for ONGC's real-time data monitoring tender has been extended by 9 days.
8The revision allows bidders more time to align with ONGC's clarified pricing format and complex digital scope.
8A BOQ terminology fix and a fresh deadline suggest that ONGC is ironing out operational kinks before opening its digital rig services tender.
ONGC Extends Mobile Rig Tender Deadline to 23 June
8The submission deadline for ONGC’s Cambay Asset rig charter tender has been pushed to 23 June. The extension follows key updates to guarantee and document reuse clauses.
ONGC Extends Bokaro O&M Tender Deadline to 17 June
8Vendors now have until 17 June to bid for ONGC’s 3-year operations and maintenance contract for Bokaro well sites. The extension is seen as a move to widen participation.

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