The following are some of the highlights of OIL's performance in 2020-21
8The company brass claims that it will take no impairment on Mozambique even through force majeure conditions are in place because insurgents are very near its operating area in the LNG project where it has a big stake. The management claims impairment will not be needed even if the force majeure continues for two years
8The company took an Rs 850 crore hit in dry wells in its KG Basin exploration as well as Mizoram, both of these missions have not been abandoned

8Gas compression facilities are required on rent

82021 is setting out to cause the third-lowest level of newbuilding orders in 12 years, despite additional orders for containerships currently at a 14-year high, BIMCO forecasts
 8The trading world merchant fleet had a range of 74,505 ships over 11 main segments recounted by the BIMCO ICS Seafarer Workforce Report 2021, at the start of 2021. In the baseline scenario, the total fleet is calculated to reach 79,282 by the end of 2025
 8From 2021 onwards, BIMCO forecasts the fleet to have an annual compound growth rate (CAGR) of 1.25% in a baseline scenario until the spring of 2026, the CAGR for the previous five years is 1.44%

8Why is there no business in the DAP market for the last 15 to 20 days
8They are all waiting for signals to come

8What about the phos acid price negotiations?
8Will they stay the same or will they rise?

8Focus Energy has claimed that it can produce 4 mmscmd of gas from its field at Langtala
8And a gas evacuation connection is crucial for that to happen

The common carrier regulations are now being set to be put in place
8And a lot of standardization is expected, including about GSAs

Mukesh Ambani has promised that his deepwater blocks will supply 30 mmscmd of gas by 2023
8The third field will come on stream in Q-4, 2022
Find out more

8The European Union has banned imports or transfer of potash from Belarus as part of its wide-ranging economic sanctions.
8Find out more

8Reliance Industries is investing in India’s first world-scale carbon fibre plant for supporting hydrogen and solar ecosystems.
8Know more about it

Phosphoric Acid & Sulphuric Acid Greenfield Project
 Owner in negotiation for basic engineering package
 Cost Rs 1800 crore
8EPC package will be released later
Rs 200 crore urea energy-saving project
KBR and Tecnimont were involved, COVID had delayed commissioning

8A requirement for sulphur is coming up

Major South Korean producer, LG Chemical, has offered its PVC In India.

The international crude oil price of Indian Basket was quoted at around $74.24 per barrel on June 25, 2021.

Acrylic (imported) prices were assessed lower in the Delhi market today

ABS (MIF45)  prices have drifted down in the Mumbai market

POM (imported) prices are slowly increasing in the Delhi market

ABS (MIF45)  prices were assessed lower in the Delhi market today

The Delhi market recorded low ABS (HI121H) IM prices today

Gas is a big input in petrochemicals, it is the basic feedstock, outside of naptha, for ethylene
8But gas is under increasing attack as it has been found to be as polluting as other fossil fuels, including naptha because of fugitive emissions, and methane emissions are 10 times more polluting than CO2
8There is a now a global trend to bring down CO2 emissions in gas
Find out what is being done

8Get the full industry consumption report for the month for the Indian oil & gas sector
8And this includes important feedstocks needed for petrochemicals

8Around 43 per cent of all plastics used in India is for single use packaging
8To battle this, the government has issued guidelines

8Repsol, Axens and IFPEN have developed a pioneering and patented process to enhance the chemical recycling of plastic waste and boost circular materials production.
8There are a couple of other recycling news which may be of interest
8Emeraude invests in recycled fabric manufacturer DGrade
8Synthos opens EPS recycling facility in the Netherlands
8LyondellBasell, Neste ink long-term renewable feedstock deal

Find out more on why IOC chairman Shrikant Madhav Vaidya works 14-hour days and is in office Saturdays and Sundays as well
8The management structures in IOC has changed dramatically after he assumed chairmanship as well

8Intense lobbying is currently on in the corridors of power over the issue of disqualification of Afcons because of the tragic loss of life during Cyclone TaukTae
Find out more