Oil & Natural Gas: News & Discussion

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Neshant
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Re: Oil & Natural Gas: News & Discussion

Post by Neshant »

don't post PPTs as they are a source of trojan/virus transmission.

don't click on that unless you want to get infected.
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Re: Oil & Natural Gas: News & Discussion

Post by RamaY »

My Bad. I think there is a PDF version of the same on the net...
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Re: Oil & Natural Gas: News & Discussion

Post by Pranav »

Goldman Sachs Reveals it Shorted Gulf of Mexico

NEW YORK (The Borowitz Report) - In what is looming as another public relations predicament for Goldman Sachs, the banking giant admitted today that it made "a substantial financial bet against the Gulf of Mexico" one day before the sinking of an oil rig in that body of water.

The new revelations came to light after government investigators turned up new emails from Goldman employee Fabrice "Fabulous Fab" Tourre in which he bragged to a girlfriend that the firm was taking a "big short" position on the Gulf.

"One oil rig goes down and we're going to be rolling in dough," Mr. Tourre wrote in one email. "Suck it, fishies and birdies!"


The news about Goldman's bet against the Gulf comes on the heels of embarrassing revelations that the firm had taken a short position on Lindsay Lohan's acting career.

http://www.huffingtonpost.com/andy-boro ... 58774.html
ALSO SEE: Criminal Negligence: Despite Knowing It Had a Damaged Blowout Preventer, BP STILL Cut Corners By Removing the Single Most Important Safety Measure - http://www.washingtonsblog.com/2010/05/ ... owout.html

One wonders if the profits from Goldman Sachs short plus any insurance payment is greater than the amount BP will be liable to pay as damages.
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Re: Oil & Natural Gas: News & Discussion

Post by praksam »

Prominent Oil Industry Insider: "There's Another Leak, Much Bigger, 5 to 6 Miles Away"

http://www.washingtonsblog.com/2010/05/ ... heres.html
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Re: Oil & Natural Gas: News & Discussion

Post by Pranav »

Aerial photo of Gulf coast - http://i.huffpost.com/gadgets/slideshow ... 5105672604

(The dark patch appears to be the clear water, the brown area seems to be the oil.)
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Re: Oil & Natural Gas: News & Discussion

Post by Pranav »

^^^ In previous posts, the huffingtonpost.com story about GS appears to be satirical ... but others are serious.
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Re: Oil & Natural Gas: News & Discussion

Post by vijayk »

http://blogs.timesofindia.indiatimes.co ... n-pipeline
Shale gas, not Iran pipeline, our energy hope

External affairs minister S M Krishna visited Tehran in mid-May and said India was still interested in the proposed Iran-Pakistan-India (IPI) gas pipeline, but expressed reservations on security grounds. However, there is now a more important economic reason to oppose the pipeline.

The IPI gas price has become ridiculously high in the light of new technology for extracting gas from shale, a common sedimentary rock found across the world. The IPI project never made sense from a security viewpoint. It now makes no sense from an economic viewpoint.The US has pioneered shale

gas technology. This has created a glut, sending gas prices plummeting from $13/mmbtu (million British thermal units) four years ago to just $4/mmbtu today, even as the price of oil has more than doubled. By contrast, the IPI formula links the gas price to oil prices. This implies that India will have to pay $10/mmbtu at today’s oil price of $70/barrel, and a whopping $20/mmbtu for gas if oil returns to its 2008 peak of $150/barrel. India cannot possibly accept such a price formula when shale gas technology has sent prices plummeting.
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Re: Oil & Natural Gas: News & Discussion

Post by svinayak »

http://www.youtube.com/watch?v=77pBcf0o444
Deregulation is the real (underlying) reason / cause behind the US oil spill by British Petroleum (BP) in 2010 off the coast of Louisiana in the Gulf of Mexico. Deregulation coupled with lax government oversight (lackies appointed by Dick Cheney at the helm) lead to the omission of key safety features and protocols, a free pass for drilling licenses, emphasis on profit over safety, and absolutely NO PLAN for containment of blowouts.

For example, George W Bush and Dick Cheney helped block a 2002/03 Bill that would have required the use of acoustic switches to activate the blowout preventer (BOP). When the rig blew up, they had to MANUALLY activate the switch by sending robotic submersibles. This was all but impossible since the rig was in flames and the priority was putting it out and saving lives; this was easily foreseen.

In addition, BP did not want to lose an oil well (by activating the BOP); this would have cost them future profit in addition to the costs for exploration and preparation of the well. Eventually the rig collapsed and sank to the ocean floor. Because the rig was STILL ATTACHED to the well head / BOP, it bent or damaged the BOP making it unusable. Again, this is something that could have been foreseen; i.e. the need to activate the BOP immediately in the case of catastrophic rig failure, to avoid potential damage to the BOP. Profit wins over safety; BP must avoid activating the BOP at all costs.

An acoustic switch would have allowed them to IMMEDIATELY stop the well head (activate the BOP) as soon as the explosion happened. The BOP would not have been at risk for failure (due to rig collapsing); but, the lack of a remote switch and need to save the well (for profit and avoidance of loss) meant that they delayed trying to activate it. By that time the damage to the BOP had been done.

Lastly, all of the post-blowout efforts have been focused on SAVING the well; i.e. it was only after more than a month before BP attempted the TOPKILL method, which would have sealed the well. Attempts before that were about slowing the flow of oil or collecting it. Why did BP not try the TOPKILL method right away?
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Re: Oil & Natural Gas: News & Discussion

Post by svinayak »

Image
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Post by svinayak »

http://www.youtube.com/watch?v=kVlUQ7znFIo
This video has been made using 4 NASA/MODIS images between the 25th April 2010 and 4th May 2010. A morphing algorithm has been applied to generate this video but the evolution of the oil spill extent between images is not based on ground truth data and therefore may not be accurate. to access MODIS data, please visit :rapidfire.sci.gsfc.nasa.gov/.

http://www.youtube.com/watch?v=IxgbvDcmrYQ

http://www.youtube.com/watch?v=uW3UPtpFZT0
As more oil is poured into the Gulf of Mexico, US President Barack Obama has sent SWAT teams to check out all oil rigs. this is all very suspicious, particularly because he says the government is trying to create artificial scarcity of oil in the United States. There is more oil in that same area and oil companies need artificial scarcity in US and globally.

Henry Kissinger got the support of the ME oil producers by making a pledge to stop oil drilling in the 70s. If this has been removed then there will be OIL glut in the world.
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Re: Oil & Natural Gas: News & Discussion

Post by svinayak »

http://www.youtube.com/watch?v=BLlCY3kDSaE
American stood on the Union Jack against BP
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Re: Oil & Natural Gas: News & Discussion

Post by Prem »

http://oilandgasindia.blogspot.com/2010 ... world.html

Shale gas will have impact on Geopolitic, We have seen that in case of Iran India pipe line. It will be good for India or any energy importing country.
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Re: Oil & Natural Gas: News & Discussion

Post by Nihat »

Having no policy on shale gas exploration is a major factor though. Also, I fear what kind of a mess ONGC will create in it's pilot project, they may base thier estimates on the basis of old exploration techniques and determine that shale exploration is commercially unviable.

If Reliace were allowed this oppurtunity instead I'm sure they would have found much more commercial viability owing to their greater expousure to newer drilling techniques, thanks in part to their tie up with Atlas.
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Re: Oil & Natural Gas: News & Discussion

Post by Ameet »

Sasol, Tata in $10 Billion Coal-to-Motor Fuel Venture

http://www.businessweek.com/news/2010-0 ... ate2-.html

Sasol Ltd., the largest producer of motor fuel made from coal, plans to spend $10 billion in India in partnership with the Tata Group on a block awarded last year,

The South African company plans to produce 80,000 barrels a day of motor fuel by 2018 from a coal block in the eastern state of Orissa.

India’s production of gasoline climbed 32 percent to the equivalent of about 422,800 barrels a day and diesel output rose 12 percent to about 1.4 million barrels a day in the year ended March, according to Bloomberg calculations from data on the Petroleum Planning and Analysis website.

Sasol, which produces more than 40 percent of South Africa’s motor fuel, uses technology first employed by Nazi scientists and refined by apartheid-era engineers. The company plans to build new coal-to-fuel plants in the U.S., China and India.
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Re: Oil & Natural Gas: News & Discussion

Post by Chinmayanand »

Toxic Oil Spill Rains Warned Could Destroy North America
A dire report prepared for President Medvedev by Russia’s Ministry of Natural Resources is warning today that the British Petroleum (BP) oil and gas leak in the Gulf of Mexico is about to become the worst environmental catastrophe in all of human history threatening the entire eastern half of the North American continent with “total destruction”.

Russian scientists are basing their apocalyptic destruction assessment due to BP’s use of millions of gallons of the chemical dispersal agent known as Corexit 9500 which is being pumped directly into the leak of this wellhead over a mile under the Gulf of Mexico waters and designed, this report says, to keep hidden from the American public the full, and tragic, extent of this leak that is now estimated to be over 2.9 million gallons a day.

Corexit 9500 was found to be one of the most toxic dispersal agents ever developed. Even worse, according to this report, with higher water temperatures, like those now occurring in the Gulf of Mexico, its toxicity grows.

A greater danger involving Corexit 9500, and as outlined by Russian scientists in this report, is that with its 2.61ppm toxicity level, and when combined with the heating Gulf of Mexico waters, its molecules will be able to “phase transition” from their present liquid to a gaseous state allowing them to be absorbed into clouds and allowing their release as “toxic rain” upon all of Eastern North America.

Even worse, should a Katrina like tropical hurricane form in the Gulf of Mexico while tens of millions of gallons of Corexit 9500 are sitting on, or near, its surface the resulting “toxic rain” falling upon the North American continent could “theoretically” destroy all microbial life to any depth it reaches resulting in an “unimaginable environmental catastrophe” destroying all life forms from the “bottom of the evolutionary chart to the top”.

Reports are also coming from the United States that their government is secretly preparing to evacuate tens-of-millions of their citizens from their Gulf of Mexico States should the most dire of these scientific warnings start to come true.
To the greatest lesson to be learned by these Americans is that their government-oil industry cabal has been just as destructive to them as their government-banking one, both of which have done more to destroy the United States these past couple of years than any foreign enemy could dare dream was possible.
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Re: Oil & Natural Gas: News & Discussion

Post by Sanjay M »

US Rules Out Nuclear Strike On Oil Well

If only we had thought to try this for Pokhran-I
Would any lefties have blamed us then?

And how the hell did the Soviets have the b*lls to nuke their gas well fires?

"The Buddha has Smiled - and I'm smelling methane!"
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Re: Oil & Natural Gas: News & Discussion

Post by Theo_Fidel »

vijayk wrote:http://blogs.timesofindia.indiatimes.co ... n-pipeline
Shale gas, not Iran pipeline, our energy hope
Shale has many issues yet to be solved.

The ground water contamination issue alone suggests caution.

Also each well requires millions of liters of water which is already scarce. Also the 'propant'/fracing technology is still not mature.

We have plenty of gas/oil off our East Coast in the Krishna/Godavari/Mahanadhi/Cauvery fields.

This is a system very similar to the Mississippi delta system but about 4 times larger.

The Mississippi system has yielded/reserves over 40 Billion barrels of oil and over 200 TCF of gas. To do this there have been over 40,000 wells drilled in this system and drilling continues.

Fewer than a thousand wells have been sunk on the entire East coast of India. Eventually we are going to need something like 100,000 wells drilled off our East coast. At the present Oil PSU (Dinosaur) rate this will take about 10,000 years.

This is not easy oil/gas but the indications are that there is a tremendous amount out there.

Just be careful not to cause another spill.
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Re: Oil & Natural Gas: News & Discussion

Post by Prem »

Tuck Myket for great info Theo Sir JI ,
Good to know that our own energy resources are there to be exploited. :D
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Re: Oil & Natural Gas: News & Discussion

Post by svinayak »

"US military warns oil output may dip causing massive shortages by 2015"
"By 2012, surplus oil production capacity could entirely disappear"
• Shortfall could reach 10m barrels a day, report says
• Cost of crude oil is predicted to top $100 a barrel

http://www.guardian.co.uk/business/2010 ... ion-supply
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Re: Oil & Natural Gas: News & Discussion

Post by Prem »

Acharya ji, surpulus capacity right now is more than 7MB a day ..close to 12MB a Day, without Brazilian and Iraqi Oil coming on line.
Russia becomes leading oil producer, BP says
http://news.bbc.co.uk/2/hi/10275183.stm
Russia overtook Saudi Arabia to become the world's leading oil producer in 2009, while global oil consumption fell the most since 1982, BP has said. According to the oil giant's latest Statistical Review of World Energy, Russia increased oil production by 1.5% in 2009, claiming a 12.9% market share. Production in Saudi Arabia fell 10.6%, giving the country a 12% market share. Global oil consumption fell by 1.2m barrels a day, or 1.7%, while natural gas use dropped 2.1%. The world's oil production dropped by 2m barrels a day, or 2.6%, also the largest decline since 1982.iquefied natural gas," the report states.
The US became the world's largest gas producer, surpassing Russia, thanks to "continued expansion of unconventional supplies".
Global proven oil reserves increased by 700m barrels to 1.33 trillion barrels last year. At the same time, the world's gas reserves grew by 2.21 trillion cubic meters to 187.49 trillion cubic meters.
http://news.bbc.co.uk/2/hi/10275183.stm
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Post by BijuShet »

From Rediff: RIL discovers more oil in Cambay Basin
Reliance Industries on Friday said that it has made a sixth oil discovery in the Gujarat block, but did not give the reserves that the latest find may hold.

The well CB10A-T1 encountered hydrocarbon bearing zone between 1,390 and 1,402 meters below the earth in the block CB-ONN-2003/1 near Ahmedabad, the company said in a press statement here.

"The well flowed at a rate of 415 barrels of oil per day," it said. RIL, which has so far drilled 16 exploratory wells in the block, named the discovery 'Dhirubhai-49'. This is the sixth oil discovery in the block, so far, but the company has not put a reserve estimate for any of the finds in the area.

Stating that the find has been notified to the government and to the Directorate General of Hydrocarbons, the company said, "The potential commercial interest of the discovery is being ascertained through additional data gathering and analysis."

The block CB-ONN-2003/1 is located at a distance of about 130 kms from Ahmedabad in Gujarat, in the Cambay Basin. The block covers an area of 635-sq km in two parts -- Part A and Part B.

RIL, as operator, holds 100 per cent interest in the block. It had won the block in the fifth round of auction under the New Exploration Licencing Policy P). While the entire block was covered with 2D seismic, about 80 per cent of the block area has 3D seismic coverage.

Of the 16 exploratory wells drilled in the block by RIL, so far, 12 are located in Part-A and the remaining 4 in the Part B of the block.

"RIL is continuing further exploratory drilling efforts in the block," the statement said. The well CB10A-T1 was drilled to a total depth of 1500 meters in Part A of the block. "The discovery is significant as this play fairway is expected to open more oil pool areas, leading to better hydrocarbon potential within the block," RIL said, adding "the discovery supplements the understanding of the petroleum system in the Cambay basin in general, and the block in particular."

Based on the interpretation of the acquired 3D seismic campaign in the contract area, RIL has identified several more prospects with upside potential at different stratigraphic levels.
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Re: Oil & Natural Gas: News & Discussion

Post by svinayak »

News
Gates, venture capitalist Doerr issue warning about America's future
Join GE CEO Immelt in effort to help U.S. gain an innovation edge in the push for clean tech
http://www.computerworld.com/s/article/ ... onomyId=12

Computerworld - WASHINGTON -- The ever expanding BP oil spill, in a sense, provides Bill Gates the perfect backdrop for selling Congress and the White House on a proposal to increase annual U.S. spending on clean energy research and development from $5 billion to $16 billion.

Gates, General Electric Co. CEO Jeff Immelt and venture capitalist John Doerr, a partner at Kleiner Perkins Caufield & Byer, are among the well-known business people involved in high-level lobbying effort on clean energy.


The trio discussed the need for clean energy investment at a press conference here today, and are slated to discuss it further with President Barack Obama this afternoon.

Today's message, and a related American Energy Innovation Council report listing a number of energy policy recommendations, didn't cite BP oil spill. It was about which country will lead in what may easily be the world's next big industrial push.

Gates, Immelt and Doerr are all members of the energy innovation council.

This business-driven push for a better energy plan already has some congressional support, principally from U.S. Rep. Bart Gordon (D-Tenn.), who heads the House Committee on Science and Technology. He said Thursday that he plans to work with the group on legislation that implements its proposals.

At an earlier meeting with congressional leaders on the BP oil spill, Obama made note of today's planned meeting today with Gates and others.

"We can't keep our eye off the importance of having an energy policy that meets the needs of the next generation and ensures that the United States is the leader when it comes to energy policy," said Obama. "We are not yet that leader, and that's what I want us to do."

The U.S. isn't the worldwide leader in clean technology today, agreed Doerr during the press conference. America is a worldwide leader in biotechnology and information technology, he said, but "that's not the case in today's energy technologies."

Of the top 30 new energy technology companies worldwide that produce batteries, solar technologies and advanced wind energy, only four are headquartered in the United States, Doerr said.

"It's very sad that Americans spend more on potato chips than we do on investment in clean energy R&D," said Doerr.

Gates said more federal research spending is needed to spur investment in clean technologies. "The incentives aren't there to make it happen," said Gates.

"In the same way that the U.S. has led in health care, the same way we have led in IT, it takes an upfront investment," said Gates.

U.S.-based General Electric is one of the top companies on Doerr's list, and Immelt said that its revenue from clean energy products has gone from $5 billion to $20 billion.

"It's created jobs, and it's created competitive advantage," said Immelt, adding that the company plans to increase R&D spending in this area.

The timeline for producing results is years away.

It will take a decade to bring a number of technologies in the pilot stage, and perhaps take 20 years before there is a clear idea what the winning technologies look like, according to those involved in this effort.
Last edited by svinayak on 13 Jun 2010 04:24, edited 1 time in total.
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Re: Oil & Natural Gas: News & Discussion

Post by Neshant »

Acharya wrote:
News
Computerworld - WASHINGTON -- The ever expanding BP oil spill, in a sense, provides Bill Gates the perfect backdrop for selling Congress and the White House on a proposal to increase annual U.S. spending on clean energy research and development from $5 billion to $16 billion.
the guy is fishing for govt subsidies.

if its really such a money maker, why does he not invest his personal fortune in it.
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Re: Oil & Natural Gas: News & Discussion

Post by svinayak »

As I predicted the social engineering is going strong

Obama calls for clean energy push
BBC News - ‎2 hours ago‎
US President Barack Obama has called on his Democratic Party and other supporters to back a government campaign for clean energy. In a statement made as he visited areas affected by the BP oil spill, he said the US must "embrace a new future".
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Re: Oil & Natural Gas: News & Discussion

Post by Airavat »

Image

The world's longest continuously heated and insulated crude oil pipeline by Cairn India is ready. The 590-km long Barmer to Salaya pipeline passes through Rajasthan and Gujarat. The first phase of the Barmer-Salaya line is operational with oil supplies having started to the private refineries from the delivery point at Salaya.
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Re: Oil & Natural Gas: News & Discussion

Post by Neshant »

why continuously heated?

is it to maintain high viscosity of the oil to keep it flowing ?
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Re: Oil & Natural Gas: News & Discussion

Post by neeraj »

Neshant wrote:why continuously heated?
is it to maintain high viscosity of the oil to keep it flowing ?
http://news.bbc.co.uk/2/hi/scotland/edi ... 321742.stm
The unique nature of the Rajasthan crude requires the pipeline to be heated to ensure the continuous flow of oil.
There are also 35 heating stations at 20km (12 mile) intervals along the length of the pipeline.
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Re: Oil & Natural Gas: News & Discussion

Post by Jayram »

From above link..
The pipeline took two years and 6,000 workers to build.
The 360-mile-long (580km) pipeline from the Thar deserts of Rajasthan to the Gujarat coast passes through 270 villages and 34 major rivers.
A question here How is it that Cairn was able to get land for this purpose with no sign of the usual hangama and delay/politics that accompanies the land acquistion elsewhere in India.
Is this only becuase we are talking rural land with good compensation or is there something in Cairn's land acquistion practices to be learned on this one? Qudos to Cairn either way.
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Re: Oil & Natural Gas: News & Discussion

Post by manish »

Jayram wrote:From above link..
The pipeline took two years and 6,000 workers to build.
The 360-mile-long (580km) pipeline from the Thar deserts of Rajasthan to the Gujarat coast passes through 270 villages and 34 major rivers.
A question here How is it that Cairn was able to get land for this purpose with no sign of the usual hangama and delay/politics that accompanies the land acquistion elsewhere in India.
Is this only becuase we are talking rural land with good compensation or is there something in Cairn's land acquistion practices to be learned on this one? Qudos to Cairn either way.
I do not know but lemme take some wild guesses:
1. The NDTV/CNN-IBN/ToI and the assorted jholawallahs have little interest/presence in the arid deserts of rural rajasthan/or have been paid off :)

2. Cairn seems to have a well-planned 'CSR' sorta thing in place - they train and employ a lot of land losers/locals and do several other activities designed to keep the locals happy - this is as per an ex-Cairn guy involved in such activities - he was an MBA from NIRMA so I guess his type would be well connected to the bleeding heart/NGO types as well - +1 there to Cairn

3. GoI involvement with ONGC's 30% stake in Mangala - GoI projects often seem to fare better than private efforts wrt land acquisitions as seen elsewhere.

4. Most importantly, pipelines are typically less damaging and require less land in a given area/village as compared to large greenfield steel plants and auto mfg facilities that seem to attract local ire. Probably fewer people in every village lose their lands to pipelines unlike entire villages getting dislocated in case of large steel plants and mines.

Just look at the pic above, the dia of the pipeline isn't much when compared against the man standing next.

Of course all this is speculation onree, so could have no foundation in reality.
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Re: Oil & Natural Gas: News & Discussion

Post by SSridhar »

IPI Pipeline: US warns Pakistan
The U.S. has warned Pakistan about the possibility of the Iran-Pakistan gas pipeline running into rough weather because of the sanctions imposed earlier this month on Iran owing to Tehran's refusal to suspend uranium enrichment that could produce fuel for a nuclear weapon.

This word of caution was conveyed to Pakistan by the U.S. Special Representative to Afghanistan and Pakistan, Richard Holbrooke, during his talks with the country's leadership here over the weekend. Confirming this during a special briefing on Sunday for the American media in Islamabad, he was quoted by the Associated Press as saying: “We cautioned the Pakistanis to try to see what the (Congressional) legislation is before deciding how to proceed because it would be a disaster if… we had a situation develop where an agreement was reached which then triggered something under the law.''

Shortly after Mr. Holbrooke's briefing, Pakistan Foreign Minister Makhdoom Shah Mehmood Qureshi maintained that the deal would not be impacted by the sanctions; a position that the Foreign Office has held since this chapter in the ongoing U.S.-Iran stand-off was opened.
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Re: Oil & Natural Gas: News & Discussion

Post by Ameet »

Reliance To Pay $1.35B For Stake In Pioneer's Texas Field

http://online.wsj.com/article/BT-CO-201 ... 09123.html

India's Reliance Industries Ltd. agreed to buy 45% of Pioneer Natural Resources Co.'s acreage in the Eagle Ford natural-gas shale for $1.35 billion, a source familiar with the deal said Tuesday.

Dallas-based Pioneer has about 310,000 acres in the south Texas gas field, where the company had successfully drilled five wells as of May.

The move means that Reliance is doubling down on North America's fast-growing shale-gas business.
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Re: Oil & Natural Gas: News & Discussion

Post by SSridhar »

RIL's acquisition spree
Image
Courtesy: The Hindu Businessline
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Re: Oil & Natural Gas: News & Discussion

Post by harbans »

On the Cairn Rajasthan Oil land acquisition and more:
More than 4,000 contractor personnel have been employed on the project.

“The pipeline project activities provide employment to persons of different skills and trades. The local population is being given preference regarding employment. During construction of the project, temporary employment to unskilled and semi-skilled labourers was provided. During the operational phase, we plan to develop and train local community members to provide services such as security, administration and maintenance,” the Cairn India spokesperson continued.

Challenges

The Managala to Bhogat Pipeline corridor traverses two states and eight districts and required the acquisition of approximately 670 km of right-of-way (RoW), involving the daunting task of impinging on the land of nearly 50,000 landowners. Cairn India put in place a dedicated team to address social issues and gain the support of the locals residing along the length of the pipeline route. Programmes were undertaken to educate stakeholders about the significance of the project and various measures that are being taken to protect the asset.
http://pipelinesinternational.com/news/ ... ne/040184/

I don't know about the 'unique' nature of Rajasthan oil, but all crude generated in different regions have some unique characteristics. However as far as all crude go which is RMG 180 or greater, all require heating 35-45 c for transfers. To pump round the year specially where winter night temperatures would hover close to 0c, it would be impossible to have a pipeline without heating that could pump oil to the refineries it's supplying.
SSridhar
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Re: Oil & Natural Gas: News & Discussion

Post by SSridhar »

RIL finds more oil in Cambay Basin
. . . the current flow was at 410 barrels of oil per day (bopd) at the at the Cambay basin block in the western Indian state of Gujarat.

This is the seventh oil discovery by the company in the region. The potential commercial interest of the discovery is being determined through more data and analysis, Reliance said in a statement. The company also said it is continuing further exploratory drilling efforts in the block, and it had informed the Indian government about the latest discovery.
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Re: Oil & Natural Gas: News & Discussion

Post by Prem »

India May refinery output up 7.7 pct y/y - govt
NEW DELHI June 28 (Reuters) - Indian refiners, excluding Reliance Industries' (RELI.BO) export-focused plant, processed 3.252 million barrels per day (bpd) of crude oil in May, up 7.7 percent from a year ago, government data showed on Monday. Crude oil output rose an annual 5.8 percent to 696,350 bpd in May. (Reporting by Nidhi Verma; editing by Surojit Gupta)
http://www.reuters.com/article/idUSSGE65R0BE20100628
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Re: Oil & Natural Gas: News & Discussion

Post by Ameet »

India Loses to China in Africa-to-Kazakhstan-to-Venezuela Oil

http://www.bloomberg.com/news/2010-06-3 ... hases.html

State-run Chinese companies spent a record $32 billion last year acquiring energy and resources assets overseas versus India’s single $2.1 billion investment by ONGC. China’s June 19 decision to allow the yuan to appreciate will further strengthen the hand of Chinese companies buying overseas.

India’s oil import bill climbed six-fold in the past decade to $85.47 billion for the year ended March, equivalent to about 7 percent of gross domestic product.
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Re: Oil & Natural Gas: News & Discussion

Post by Ameet »

India Plans First Shale-Gas Auction to Boost Reserves

http://www.businessweek.com/news/2010-0 ... erves.html

India, beaten by China in the race for energy assets across the world, plans to offer shale-gas areas for exploration for the first time, the nation’s oil regulator said.

Preliminary estimates show India’s shale-gas reserves may be larger than its proven conventional gas deposits, said P.K. Bhowmick, president of the country’s Association of Petroleum Geologists.

India will need to change exploration laws for shale gas to be produced because current exploration licenses don’t include unconventional sources, Srivastava said. The changes will have to be approved by the nation’s Cabinet.

“We have to run now, we can’t just walk,” Srivastava said. “We don’t yet know the extent of our reserves and we hope to put everything together within a year.”


“Shale rocks have been found in Gujarat, Assam, Jharkhand,” Sharma said June 25. “We have to study the extent of the reserves and the economics of producing it.”

The shale rock found in India is similar to those in the U.S., Bhowmick said. The cost of producing the gas may be different because the rocks are found deeper in the ground in India than in the U.S., he said.

“The rocks are definitely gas-charged,” Bhowmick said.

Supply of natural gas in India lags behind demand as the nation seeks to cut air pollution and as power plants and fertilizer users seek to replace more expensive naphtha and imported liquefied natural gas with cheaper domestic fuel. Gas demand may rise to 120 billion cubic meters a year by 2015 from 62 billion currently, B.C. Tripathi, chairman of GAIL India Ltd., said June 24.

The nation faces an energy shortfall of 55 percent by 2030 as demand more than doubles to the equivalent of 1.3 billion metric tons of oil, according to the Paris-based International Energy Agency.
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Re: Oil & Natural Gas: News & Discussion

Post by Satya_anveshi »

Folks, have a look at this. What a humongous mess they have created themselves; no enemy will ever dream of doing this to US. I just feel like we should send Al Gore for a swim down the ocean here.

Prem
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Re: Oil & Natural Gas: News & Discussion

Post by Prem »

http://news.bbc.co.uk/2/hi/science_and_ ... 564798.stm

Russian sub 'could stop oil leak'
The two submersibles started their third season of exploration in Lake Baikal on 1 July. Over the last two expeditions, they found reserves of gas hydrates on the lake bed - which some consider a possible alternative fuel source of the future.
Gas hydrates are usually formed in permafrost or deep in the oceans. These are crystalline water-based solids; gases such as methane are trapped inside them within cages of hydrogen-bonded water molecules.

Baikal is the only freshwater basin where gas hydrates are found in its sediments. Scientists say the depth of the lake - reaching 1,637m - and extremely low temperatures of water near the lake bed both help gas hydrates form at depths exceeding 350m. The current expedition aims to obtain important data about these findings, and is also searching for new life forms, which might be unique to Baikal.
This is something India can use in finding ,exploiting Gas Gydrates in IO. Some estimate humungous 17kTrillion CM of metahne stored there.
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