News & Bulletin Updates

Here is a private sector company with an ambitious E&P plan (not Cairn India):
8Drilling of 30 new development wells
8Workover of 9 existing wells
 Development of surface facilities i.e. Early Gas Production Facilities (EGPFs)/ Quick Production Facilities (QPF) and Gas Collection Station (GCS) to facilate the production of produced hydrocarbons, their processing and sale. A peak production capacity up to 2385 m3/day crude oil and 2.83 MMSCMD of natural gas has been envisaged for the field the surface facilities would be constructed having capacity configured to handle peak production rate.

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8The much needed financial relief sought by E&P bidders, both for LSTK contracts and services, on account of COVID has finally come through

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8Clarifications even after technical bids have been opened are possible now in E&P bids

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There is now growing resentment in some public sector oil companies over the government's insistence on putting their tenders in the GEM portal.
8Most PSUs are upset that GEM circumvents their own optimized SAP operated systems
8And there are problems galore with GEM too, as it is an all- size-fits-all portal while the oil & gas requirements are very specific

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Focus Energy Ltd seems to have been able to get through its rough patch
8A Gas Sale Purchase Agreement (GSPA) with GAIL for supply of 0.95 mmscmd to RRUVNL has been approved
8The company has impressive 1.9 Tcf reserves

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8DAP prices are at a decade high

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8Cost of LNG imports have doubled over the last year for India

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8Fresh regulations have come in for existing crude and petroleum pipelines
8In case of leakages, the cost is going to be high from now on 

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Cyclonic Storm ‘Gulab’ made landfall 20 km north of Kalingapatnam around 8 PM, on September 26 night.
8And it is wreaking havoc all around
8Get an update on how ports have been impacted 

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Customize Blending Unit for NPK Fertilizer & Ammonia Storage Tank Greenfield Project 
8Cost - Rs 90 crore
8Project Event: The project is on hold due to the financial loss during the Covid, the project is likely to be activated in Q3 FY 2021. RFQ for the Contractor is likely to be released in Q3 FY 2021
Sulphuric Acid Greenfield Project
8Cost - Rs 50 crore
8Project Event: The review is still awaiting clearance from MoEF, clearance is likely to be elicited at the end of October 2021, RFQ for the local contractor as well as equipment supplier is likely to be released in November 2021 in place of August 2021

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8The Fertilizer Association of India will organize an annual seminar in December 2021.
8The key agenda of this seminar will be the following:
-Challenges of Indian Fertilizer Sector
-Meeting Challenges in Agriculture
-Sustainable Fertilizer Production
-Strategies for Fertilizer Marketing
Read for more information

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Shortage and higher prices are forcing a crisis
8And gas prices are to blame

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8A DAP requirement has come up

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8Global gas prices are at "extreme levels" due to low inventories and strong demand in Europe and China, and the market is set for a reasonably bullish five-year outlook, said Russell Hardy, chief executive officer of Vitol.

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8Professor of Chemical Engineering and Chemistry, University of Sheffield Sheffield (UK), Sep 26 (The Conversation) The recent spike in natural gas prices has closed many plants that make fertiliser in the UK - sending a shockwave through lots of other industries.

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8A New York court has paused Cairn Energy's pursuit of US assets of Air India for the recovery of USD 1.2 billion arbitral award, so as to allow the British firm to reach a settlement with the Indian government on the long drawn dispute.

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8During the mega National Cooperative Conference, the world’s number one fertilizer cooperative IFFCO’s use of nanotechnology in the fertilizer sector to make IFFCO NANO UREA Liquid was highly appreciated by Amit Shah, Minister Home Affairs and Minister of Cooperation.

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8Rajasthan Chief Minister Ashok Gehlot's brother, Agrasen Gehlot, has been issued summons by the Enforcement Directorate in connection with the alleged fertiliser scam.

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8Uralchem JSC is preparing to open its representative office in Nigeria in the near future.

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Imported PET prices in the Mumbai polymer market were quoted higher

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The international crude oil price of Indian basket was quoted at around $75.42 per barrel on September 27, 2021. 

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On September 27, 2021 Petrochem sources reported a fall in polyamide 6 (E35) prices in the Ahmedabad polymer market

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On September 27, 2021 naphtha prices were reported to be unchanged for Japan and  NW Europe due to steady demand patterns in the region.

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Ethyl acetate prices are slowly increasing in the Kolkata market.

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On September 27, 2021, imported acrylic prices were quoted lower in the domestic market of Mumbai

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