Oil & Natural Gas: News & Discussion

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Kakkaji
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Re: Oil & Natural Gas: News & Discussion

Post by Kakkaji »

Green Push: Rural consumers set to get LPG cylinders at doorstep
NEW DELHI: Rural households may get cooking gas cylinders delivered at their doorsteps soon as part of Prime Minister Narendra Modi's push to take cleaner fuels to more homes. The government is looking for ways to make it viable for rural dealers to home deliver cylinders, the lack of which makes consumption of cleaner fuel slow, expensive and quite inconvenient in the hinterland.

Since assuming charge as prime minister last year, Modi has pushed his government to connect more consumers and cities with piped gas, increase penetration of liquefied petroleum gas (LPG) in rural areas and urge well-off citizens to give up subsidy on cooking gas so that funds can be used for the needy subscribers, mainly in rural areas. The government hopes to use the LPG infrastructure freed up by citizens opting for piped gas to reach out to more rural consumers.
How is the piped gas scenario in cities? Anybody have first-hand experience of getting piped gas in home? In my city it is still cylinders.
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Post by Kakkaji »

Small is big for LPG in rural areas
Calcutta, Oct. 10: The government has decided to push sales of smaller LPG cylinders at a subsidised rate in the rural market to drive penetration of cooking gas in India.

Indian Oil Corporation, the country's largest hydrocarbon company controlling half of the LPG market, said it was introducing 5 kg cylinders at the same subsidised rate as its larger and vastly more popular counterpart of the 14.2-kg cylinder across states, including Bengal.

Oil companies, who have so far focused on urban, semi urban and semi urban-rural areas for LPG, may now push the subsidised 5-kg cylinders in the rural market through the Rajiv Gandhi Gramin LPG Vitaran Yojana.

Ashok said IOC would also focus on strengthening infrastructure to import and distribute LPG on demand across country. "Waiting period should be part of history," he said.

The company is building an LPG pipeline from Paradip to Durgapur via Haldia at a cost of Rs 900 crore. Once completed in 2016, supply of cooking gas will be easy in the eastern region. The pipeline will be extended up to Muzaffarpur via Patna.

The chairman said 11 per cent consumers have gave up subsidy in last 4 months saving thousands of crore for the government. In the interim, auto LPG and commercial LPG sales have gone up by 20 per cent and 45 per cent indicating DBTL has been able to curb illegal diversion of subsidised domestic LPG.
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Re: Oil & Natural Gas: News & Discussion

Post by panduranghari »

Lisa wrote:
TSJones wrote:^^^^^that statistic is meaningless. China is only at number 55. yet they are literally choking in their own pollution.

just because you got gazillions of peasants living on the land and not producing industrial and vehicular pollution on a per capita basis doesn't mean there is no huge pollution problem for that particular country.
What utter nonsense. You want us to reduce our footprint despite the fact that you use 12 times our current utility. Are you for real. You have build a society that thrives on power and now when we decide to do the same suddenly the white man remembers pollution.

Look in the mirror one day and say "I met an uppity Indian who had the audacity to say that his people want to live like this - the gall" and then smile. :) :) :)
That is absolutely correct LIsa ji. IMO the TPP is just another way to force US standards on the signatories. JUst like they expanded NATO gradually, the US establishment will want to do the same with TPP. They wish the TPP surpasses WTO which is more or less out of US control.

And what better stick to beat people up with than emission of green house gases! The US will do what it does best. Try to self preserve.
link
SPIEGEL ONLINE: India is expected, as a rising industrial power, to sign on to the UN Framework Convention on Climate Change -- especially now that the US under Barack Obama will likely begin reducing its own emissions.

Saran: We see no link between what the United States, as the world's largest emitter of greenhouse gases, does and India assuming legal commitments for emission reductions. The volume of US emissions today constitutes over 20 percent of the global total and 20 tons annually per person. Despite our much larger population, India produces only 4 percent of those emissions -- 1.1 tons per person. Therefore, while we would welcome a positive and forthcoming attitude on the part of a new administration to significantly reduce US emissions -- as President-elect Obama has promised -- this has no bearing on India. It will not lead India to accept rules that go beyond the current UN climate treaty, which does not stipulate legally binding reductions for developing nations.
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Re: Oil & Natural Gas: News & Discussion

Post by Austin »

OPEC no longer oil market key regulator, US is - Rosneft CEO
The main role in regulating the oil market has transferred from the Saudi Arabia-dominated OPEC cartel to the US, says Rosneft CEO Igor Sechin. Shale deposits are not the only factor, he added.

According to Sechin, besides shale, the US has “all the factors influencing the development of a competitive oil market.” This means financial resources, financial derivatives, stock exchanges, a developed system of pipelines and a large number of contractors working in the country, he said at the Russia Calling forum in Moscow on Tuesday.

So, the medium-term prospects for the world oil market will be determined by the market in the US,” Sechin added.

As for Saudi Arabia, Sechin says it’s been actively dumping and cutting prices.

"In terms of competition, we are seeing now that Saudi Arabia has even come on the Polish market, where it has never been; it’s supplying raw materials through Gdansk. Actively dumping,” he said.The struggle for market share is one of the factors affecting oil prices. This is reflected in the budget revenues,” Sechin added.

He also said that production costs for Russian oil companies are the lowest in the world - $4 per barrel. At Rosneft the figure is even lower - $2.80, which is the best in the world, according to Sechin.

Rosneft has turned to a one-year budget instead of a conventional three-year one due to global economic uncertainty. However, the situation is stable, “we have a liquidity reserve that allows our current activities,” the CEO concluded.
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Oil & Natural Gas: News & Discussion

Post by Peregrine »

Modi to discuss Chabahar investment proposals: Gadkari

NEW DELHI: Prime Minister Narendra Modi is expected to hold a meeting this month to discuss with different ministries the proposed investment proposals worth Rs 2 lakh crore at crucial Chabahar port SEZ in Iran, transport and shipping minister Nitin Gadkari said.

The investments, however, will depend on the outcome of the negotiations on gas price as Iran has offered to supply natural gas at $2.95 while India wants rates to be lowered.

"Prime Minister will hold a meeting soon, may be this month to consider investment proposals from different ministries at the Chabahar SEZ. If we get gas at reasonable rates from Iran we will definitely think on Chabahar," Gadkari told PTI.

India is ready to invest Rs 2 lakh crore at Chabahar SEZ in Iran but the investments would depend on gas prices, the minister added.

He said India has also received proposals for gas from three other nations and was "assessing all alternatives" without disclosing the names of the countries.

Gadkari said among other investment plans in roads, ports and railways, India proposes to set up a gas-based urea plant at Chabahar while exploring other alternatives too.

"In China coal-based urea is manufactured that costs Rs 10,000 a tonne. It is a Rs 100-crore project. We are assessing all these alternatives," he said.

India, which imports around 8-9 million tonnes of the nitrogenous fertiliser, is negotiating for a price of $1.5 per mmBtu with the Persian Gulf nation in a move which if successful will see a significant decline in the country's Rs 80,000 crore subsidy for the soil nutrient.

With the US and other Western powers easing sanctions against Iran, India has been in talks with Tehran to set up a gas-based urea manufacturing plant at the Chabahar port, besides developing a gas discovery ONGC had made.

India has already pledged to invest about $85 million in developing the strategic port off Iran's south eastern coast, which would provide India a sea-land access route to Afghanistan, bypassing Pakistan.

If urea plant is set up there, it will result in slashing of urea prices in India by 50% and cut on huge subsidy on urea, which is Rs 80,000 crore, he said adding that Iran has invited Indian delegation there and he will lead it.

In 2013, Iran had offered gas at the rate of 82 cents, less than a dollar, the minister said.

The ministries of chemical & fertiliser and petroleum are working on the proposed 1.3 million tonnes per annum plant, which once successful, will lead to urea prices coming down by 50%, he had earlier said.

The minister had visited Tehran in May, and both nations had inked a pact to develop the Chabahar port.

Iran's foreign minister Mohammad Javad Zarif had also called on Gadkari recently.

Request : Are these long term prices or are they present Spot Rates for EXPORTS or would they be for "Urea Manufacture" in Chabahar. Many thanks in advance.
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Karthik S
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Re: Oil & Natural Gas: News & Discussion

Post by Karthik S »

Is it safe to invest so much of our money there?
Peregrine
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Post by Peregrine »

Karthik S wrote:Is it safe to invest so much of our money there?
Kartik S Ji:
From the Article :
1. The investments, however, will depend on the outcome of the negotiations on gas price as Iran has offered to supply natural gas at $2.95 while India wants rates to be lowered.

2. "Prime Minister will hold a meeting soon, may be this month to consider investment proposals from different ministries at the Chabahar SEZ. If we get gas at reasonable rates from Iran we will definitely think on Chabahar," Gadkari told PTI.

3. India is ready to invest Rs 2 lakh crore at Chabahar SEZ in Iran but the investments would depend on gas prices, the minister added.

4. He said India has also received proposals for gas from three other nations and was "assessing all alternatives" without disclosing the names of the countries.

5. Gadkari said among other investment plans in roads, ports and railways, India proposes to set up a gas-based urea plant at Chabahar while exploring other alternatives too.
Yes the amount of US$ 30 Billion is HUGE, but then Various Indian Companies will be Involved, both Public and Private.

1, 2, 3, and 4 : All depend on Iranian Natural Gas Prices. The Iranians are not going to agree in a hurry as the Missile Test on 13-10-2015 test is an apparent violation of U. N. Security Council resolutions and raises troubling questions about Iran’s strategic intentions even after it accepted an international agreement restricting its nuclear program in July.

5. If India gets a foot in the door, especially if that door is on the Ground Floor then Indian Private Companies and possibly other Foreign Companies might also venture in.

So let us Wait & Watch.

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Rishirishi
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Re: Oil & Natural Gas: News & Discussion

Post by Rishirishi »

Dont think India ever will invest 30 billion in Iran. Things are just too risky. Most likely Modi is just waveing a carrot. India will invest in solar power.
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Re: Oil & Natural Gas: News & Discussion

Post by chetak »

Rishirishi wrote:Dont think India ever will invest 30 billion in Iran. Things are just too risky. Most likely Modi is just waveing a carrot. India will invest in solar power.
the eyranians have already rogered one set of infidel investors -- amrekis who got raped there. why would India stick it's nose into a jehadi civilization that thinks that it is superior to the Indians?? buying petroleum is OK to hedge our bets.
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Post by Kakkaji »

Extra price punch for deep-sea gas
New Delhi, Nov. 1: Gas discovered in deep-water and ultra deep-sea blocks, where production has not started, is likely to get a premium over and above the approved price.

The move will benefit state-run ONGC and Gujarat State Petroleum Corporation (GSPC).

"We are considering giving a premium over the approved price so that commercial production of discovered field becomes operational," a senior oil ministry official said.
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Post by Austin »

IOC eyeing stake in Russia's Vankor Field

http://timesofindia.indiatimes.com/busi ... 648257.cms
NEW DELHI: Indian Oil Corp wants to buy a stake in Rosneft's Vankor field in Russia, its chairman said on Tuesday, as the country's top refiner aims to source at least 160,000 barrels per day (bpd) oil through its own assets by 2020.

India imports about 80 per cent of its crude needs and has mandated its oil firms to acquire oil and gas assets overseas in a bid to cut an oil import bill running in billions of dollars.

ONGC Videsh Ltd (OVL) in September bought a 15 per cent stake in Vankor in Siberia to secure access to about 66,000 bpd of oil production.

"OVL is already there what we have said is that we could look at it together in their (OVL's) terms," B. Ashok told a news conference, adding that the talks are at a preliminary stage.


He said IOC has not decided on the size of any stake.

Ashok said his firm aims to spend up to Rs 1.75 trillion ($26.63 billion) in the next five to seven years to build up its refining, pipeline, petrochemicals and retail business.

IOC in April commissioned its 300,000 bpd coastal refinery at Paradip in eastern Odisha state. The plant is expected to operate at a full rate in the fiscal year to March 2017, said Sanjiv Kumar, IOC's head of refineries.

The refinery would soon begin producing gasoline, and that would help cut imports of the fuel, Kumar said.

IOC estimates India's fuel demand to rise by 4-5 per cent in this fiscal year mainly due to robust consumption of gasoline and gasoil.

The Indian refiner has a term deal to buy 30,000 bpd Iranian oil and it could step up purchases if "economics work out" and sanctions against Tehran are lifted, Ashok said.

IOC frequently taps spot markets for low sulphur oil, mainly from Nigeria, to feed its refineries that accounts for about a third of the country's 4.6 bpd capacity.

The Indian refiners received only half of the contracted 60,000 bpd oil with Nigerian state-firm NNPC this year, and had to tap the spot market for 130,000 bpd West African oil.

IOC recently submitted a bid to buy 100,000 bpd of sweet oil in the latest annual tender issued by Nigerian state oil firm NNPC, said AK Sharma, head of finance at IOC.
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Post by Peregrine »

India, Iran discuss undersea gas pipeline bypassing Pakistan

A senior Iranian official said on Monday that negotiations are being held to build a $4.5 billion undersea gas pipeline from Iran to India following New Delhi’s rejection of the proposal for an on-land pipeline that would pass through Pakistan.

“Negotiations are under serious consideration,” said National Iranian Gas Export Company managing director Alireza Kameli at the World Energy Policy Summit in India.

Necessary approvals and agreements for gas sale and purchase are yet to be signed, the official said. The pipeline from the Iranian coast via the Oman Sea and Indian Ocean to Gujarat will likely to be built in two years and will carry about 31.5 million standard cubic metres gas per day.

“We welcome India’s participation. At the moment, Iran is in negotiations with South Asia Gas Enterprise (SAGE) for construction of an undersea line,” Kameli said.

Further, according to the proposal which is currently under scrutiny, SAGE will lay a 1,400km pipeline bypassing the exclusive economic zone (EEZ) of Pakistan. Companies wishing to buy gas from Iran will have to rent the pipeline.

“SAGE will not be buying gas from Iran. It will lead to an international consortium for building the pipeline,” Subhodh Kumar Jain, director of the New Delhi-based SAGE said, while adding that SBI Caps is advising them on the project.

India has not participated in talks on the 1,036km Iran-Pakistan-India ((IPI)) gas pipeline since 2007, owing to security and commercial threats.

Referring to the IPI project earlier, Assocham Secretary General D S Rawat remarked that the proposed pipeline projects involving Pakistan may not materialise due to the critical political situation.

"Given the kind of serious political problems, the proposed pipeline projects involving Pakistan, it is feared, may remain a pipe dream. All other viable alternatives to enhance India’s energy security must be explored,” he said.

The consortium of Indian public sector companies, ONGC Videsh, Oil India and India Oil Corporation, had discovered gas in the Farzad-B block in Iran in 2008 and subsequently, prepared a field development plan to recover about 12.8 trillion cubic feet of gas. However, according to Assocham, the plan had to be abandoned following sanctions on Iran. India has already spent $90 million on exploration.

A senior Iranian official said on Monday that negotiations are being held to build a $4.5 billion undersea gas pipeline from Iran to Indian west coast following India’s rejection of the proposal for an onland pipeline that would pass through Pakistan.

“Negotiations are under serious consideration,” said National Iranian Gas Export Company managing director Alireza Kameli at the World Energy Policy Summit here.

The planned pipeline from the Iranian coast via the Oman Sea and Indian Ocean to Gujarat is proposed to carry 31.5 million standard cubic metres gas per day and will be built in two years, from the date necessary approvals and a gas sale and purchase agreement are signed, he said.

“We welcome India’s participation. At the moment, Iran is in negotiations with South Asia Gas Enterprise (SAGE) for construction of an undersea line,” he said.

As per the proposal being discussed, SAGE will lay the 1,400 km pipeline bypassing the exclusive economic zone (EEZ) of Pakistan. Any company wanting to buy gas from Iran can rent the pipeline.

“SAGE will not be buying gas from Iran. It will lead an international consortium for building the pipeline,” said Subhodh Kumar Jain, director of the New Delhi-based SAGE.

“SBI Caps is advising us on the project,” he added.

India has not taken part in the talks on the 1,036 km Iran-Pakistan-India gas pipeline since 2007, citing security and commercial concerns.

Meanwhile, the Teheran-based Mehr news agency has reported that Iran has agreed to award a $3 billion contract to develop the Farzad B gas field in the Persian Gulf to a consortium of Indian companies led by state-run Oil and Natural Gas Corp (ONGC).

Mehr quoted the director of the Falat Ghare oil company, Saeed Hafezi, as saying the easing of sanctions after Iran’s nuclear deal with world powers, signified that the consortium can resume field development, the first phase of which aims to produce one billion cubic feet of natural gas per day.

The Farzad B field, successfully discovered by the Indian explorer’s overseas arm ONGC Videsh Ltd (OVL), is estimated to hold initial in-place gas reserves of 12.5 trillion cubic feet.

ONGC officials here, contacted by us on Monday, declined knowledge of the latest developments, but said a proposal submitted by the consortium had cited around $3 billion as costs for the first phase of development of the Farzad B field.

Guidance : SSridhar Ji : INTEC (I hope you remember them) are involved!

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Peregrine
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Oil & Natural Gas: News & Discussion

Post by Peregrine »

From the STFUP Thread :
Vipul wrote:Even if the pipeline is away from the Shitistani EEC/maritime zone, how will this pipeline (once built) be kept safe? Is there any way it can be monitored to try to keep Paki frogman from sabotaging it in international waters?
Vipul Ji

In 1995 INTEC ENGINEERING made a Project Report on the Oman-India Deep Sea Pipeline.

In the earlier part of this century when the GOI was looking to an alternative route to avoid the Iran-India Pipeline passing through Cwapistan there were discussions in Cwapistan exploring the use of Babur Missiles and even sending the Augusta Submarines to "straddle the Pipe Line" and then place Explosives to Blow it up.

Of course this involved Depths of up to 3,500 Metres and the Augusta Submarines Depths limited to 400 Metres it would be a "wee bit difficult" to say the least.

In addition, I believe, it would cause huge environmental damages.

Here is the Pipeline Route Profile : Image

For further details click on : SAGE - Middle East to India Deepwater Gas Pipeline

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Post by partha »

There is a Paki report claiming Modi will join Nawaz Shariff for ground breaking ceremony of TAPI pipeline in Tajikistan. Good but I just hope TAPI becomes TAI bypassing Pakistan by connecting a pipeline from Herat to Chahbahar thus joining the Iran-Oman-India undersea pipeline:

TAPI:

Image

Undersea pipeline:

Image
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Post by arun »

Very positive to see diversification of India’s crude oil import basket. The volatile situation in Mohammadden majority Arab countries and avoiding a geographic choke point like the Straits of Hormuz demands diversification. Then there is the small satisfaction of pointing out to the Islamic Republic of Pakistan that Gwadar Port has less potential to disrupt India’s oil supplies than the Punjabi dominated military of the Islamic Republic thought possible :lol: .

Good also to see that the complexity factor of our PSU refineries has improved enabling us to partially break the shackles of using high quality Middle East crude oil and instead use heavier crudes that are available elsewhere in the world :

Image

See article here:

Oil imports get a distinct Latino flavour : India’s crude oil import basket is diversifying with firms looking for hedging against possible supply disruptions and many newer PSU refineries being keen to process heavier crude to improve margins
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Re: Oil & Natural Gas: News & Discussion

Post by JE Menon »

TSJ: Question on the fracking business in US - your opinion. Would this be a broadly accurate statement:

It was assumed that the decline in oil prices would hit the fracking industry in the US very hard, largely because it was comprised of tens of small operators. This is a reality and many of them have had to shut shop, especially those that are heavily leveraged financially. However, it appears that many of these operators are simply not shutting shop, but biding their time for prices to go up again and operating on a tactical basis, as the price point at which they are profitable varies from operator to operator. So they have effectively become one of the factors that could keep prices from rising dramatically. Further, it has given the US a great deal of energy autonomy from traditional suppliers both in Latin America and the Middle East.

It's not for a report or sale or anything. I want to know if my thinking described above is at least roughly in line with reality.
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Post by Peregrine »

partha wrote:There is a Paki report claiming Modi will join Nawaz Shariff for ground breaking ceremony of TAPI pipeline in Tajikistan. Good but I just hope TAPI becomes TAI bypassing Pakistan by connecting a pipeline from Herat to Chahbahar thus joining the Iran-Oman-India undersea pipeline:
partha Ji :

I believe TAPI is from Turkmenistan. Also Turkmenistan sells "Huge" amounts of Natural Gas to Northern Iran and as such a Turkmenistan Iran - Chabahar - Indian Gujarat Pipe Line would eliminate not only Afghanistan and Pakistan thereby saving ONE SET OF TRANSIT DUES.

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Post by Gyan »

There was also talk of pipeline from Russia, China to India. I think India should accept multiple pipelines and tie up the Guarantes with Indus Water Treaty.
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Post by partha »

Peregrine wrote:
partha wrote:There is a Paki report claiming Modi will join Nawaz Shariff for ground breaking ceremony of TAPI pipeline in Tajikistan. Good but I just hope TAPI becomes TAI bypassing Pakistan by connecting a pipeline from Herat to Chahbahar thus joining the Iran-Oman-India undersea pipeline:
partha Ji :

I believe TAPI is from Turkmenistan. Also Turkmenistan sells "Huge" amounts of Natural Gas to Northern Iran and as such a Turkmenistan Iran - Chabahar - Indian Gujarat Pipe Line would eliminate not only Afghanistan and Pakistan thereby saving ONE SET OF TRANSIT DUES.

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My bad. It should have been Turkmenistan. Read about Dauletabad–Sarakhs–Khangiran pipeline on the wiki. Khangiran is along the persian gulf coast. So it should be easy to build a pipeline from Khangiran to feed into the under sea pipeline. I wonder if this is being considered.
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Post by member_28911 »

https://twitter.com/MEAIndia/status/675951809668751360
And as the TAPI pipeline welding begins, Vice President Hamid Ansari signs for India

Image

Image

So has Mr. Modi lost it or what?
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Re: Oil & Natural Gas: News & Discussion

Post by chetak »

Peregrine wrote:
partha wrote:There is a Paki report claiming Modi will join Nawaz Shariff for ground breaking ceremony of TAPI pipeline in Tajikistan. Good but I just hope TAPI becomes TAI bypassing Pakistan by connecting a pipeline from Herat to Chahbahar thus joining the Iran-Oman-India undersea pipeline:
partha Ji :

I believe TAPI is from Turkmenistan. Also Turkmenistan sells "Huge" amounts of Natural Gas to Northern Iran and as such a Turkmenistan Iran - Chabahar - Indian Gujarat Pipe Line would eliminate not only Afghanistan and Pakistan thereby saving ONE SET OF TRANSIT DUES.

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or out of one frying pan, straight into another frying pan.
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Post by TSJones »

JE Menon wrote:TSJ: Question on the fracking business in US - your opinion. Would this be a broadly accurate statement:

It was assumed that the decline in oil prices would hit the fracking industry in the US very hard, largely because it was comprised of tens of small operators. This is a reality and many of them have had to shut shop, especially those that are heavily leveraged financially. However, it appears that many of these operators are simply not shutting shop, but biding their time for prices to go up again and operating on a tactical basis, as the price point at which they are profitable varies from operator to operator. So they have effectively become one of the factors that could keep prices from rising dramatically. Further, it has given the US a great deal of energy autonomy from traditional suppliers both in Latin America and the Middle East.

It's not for a report or sale or anything. I want to know if my thinking described above is at least roughly in line with reality.
Those fracking fields that have been developed will be pumped, The development costs for those fields are sunk costs regardless of the price of oil and the oil will be pumped for whatever revenue is still in them. And a lot of that is also natural gas.

However, these fields will eventually become poor producers w/o further development. And nobody is going to develop at low oil prices. So the "surplus" will eventual disappear.

When?

I have no idea.

But as soon as the price rises to a sufficient level these marginal fields will again be developed putting the speculative cycle on hold again. This will continue until there are no more fields to frack. Which may take decades. I know of one shale field in West Texas that is bigger than the Eagle Ford and Bakke fields. But it is deep and expensive. But waiting to fracked should the need arise.

Meanwhile, the march of technology moves on providing more solutions to the CO2 fossil fuel problem.

Even though all of these measures are voluntary, the pressure of technological change will take hold and someday render nationalistic fossil energy ambitions superfluous.

But there a few more decades before that happens.
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Re: Oil & Natural Gas: News & Discussion

Post by vina »

All this Pawkiss Tan "strategic location" BS is a hangover of the Brit/Russian great game when a land power was trying to approach British India and the route for that was via Afghanistan.

Now, that is simply useless to the India of today, with a hostile Pawkiss Tan and a devastated Afghanistan, this land business is simply useless and unsustainable. And Historically, it was Iran which had better access to Turkmenistan and the Caspian Sea. It is NOT PawKiss Tan , but rather IRAN that is strategically geographically important. They are the lynchpin with access to Afghanistan, and all the Central Asian states via land and Caspian sea and ALSO more importantly RUSSIA.

If we need to have a pipeline getting gas into India, it has to be a pipeline which sources gas from the entire region including the Persian Gulf, Caspian Sea basin and ALSO Russia. Sure if someone else is putting in money and building the TAPI pipeline, go for it. But we should get behind the Iran/Oman - India pipeline which sources gas from Qatar, Oman, Iran and the Caspian Sea gas, and also Russian gas. That way we can get the price that makes sense , won't be locked into a single supplier , bypass Pawkiss Tan and let it wither on the vine. The Russians would love that as well, more so, when it gives their gas access to the large Indian market and cuts dependence on the Europeans. The Russians would be better off selling their gas to China and India for the hard cash and reduce dependence on the Euro Munnas.

With Iran coming back into the international system and shedding the sanctions, we should simply get working on that and get an efficient sea borne and transshipment stuff going , and also the pipelines in place.
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Re: Oil & Natural Gas: News & Discussion

Post by JE Menon »

Thanks TSJ.
tushar_m

Re: Oil & Natural Gas: News & Discussion

Post by tushar_m »

Interesting to read

5 years ago, today On Dec. 17th 2010 , the Arab Spring started

So you think the war in Syria is about Assad

Oil pipeline that triggered the war


Image


How the Plan is about to bomb ?

When the plan was hatched Oil was $115 per barrel 5 years ago. Today it is $35.

Oil is going to $20/per barrel.

Image

They thought oil would go up in a straight line

Now they are stuck in a expensive War to Fund with falling oil prices.(SOMETHING VERY DIFFICULT TO DO IF YOU DOLE OUT MONEY TO YOUR CITIZENS TO BE LOYAL TO YOU.)

If things get out of hand(which they probably will), we are looking at WW 3 type scenario in the Middle East.

Battle Field will be from Ukraine to Yemen


Putin in pissed off because of this, not because Assad is his great friend.

People Support Trump but Establishment does not want him.

He is self funded, does not take money from SPONSORS.

He might pull America out of the war.


source : http://asian-defence-news.blogspot.in/2 ... -that.html

sorry if already posted
Kakkaji
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Re: Oil & Natural Gas: News & Discussion

Post by Kakkaji »

February date for auction of small oilfields
New Delhi, Dec. 24: The process of auctioning 69 marginal fields, where oil or gas has been discovered, could be held in February and will unlock Rs 75,000-crore worth of energy reserves.
Gyan
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Re: Oil & Natural Gas: News & Discussion

Post by Gyan »

Even long term futures of Crude Oil upto 8 years are below USD 60 Dollars. Upto 2 year futures are below USD 50 Dollars. This tells me that low crude oil prices are here to stay.
Kakkaji
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Re: Oil & Natural Gas: News & Discussion

Post by Kakkaji »

Gyan wrote:Even long term futures of Crude Oil upto 8 years are below USD 60 Dollars. Upto 2 year futures are below USD 50 Dollars. This tells me that low crude oil prices are here to stay.
This is the time to fill up the strategic petroleum reserve. Wonder if the planned facilities are coming up on schedule.
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Re: Oil & Natural Gas: News & Discussion

Post by Muppalla »

vina wrote:All this Pawkiss Tan "strategic location" BS is a hangover of the Brit/Russian great game when a land power was trying to approach British India and the route for that was via Afghanistan.

Now, that is simply useless to the India of today, with a hostile Pawkiss Tan and a devastated Afghanistan, this land business is simply useless and unsustainable. And Historically, it was Iran which had better access to Turkmenistan and the Caspian Sea. It is NOT PawKiss Tan , but rather IRAN that is strategically geographically important. They are the lynchpin with access to Afghanistan, and all the Central Asian states via land and Caspian sea and ALSO more importantly RUSSIA.

If we need to have a pipeline getting gas into India, it has to be a pipeline which sources gas from the entire region including the Persian Gulf, Caspian Sea basin and ALSO Russia. Sure if someone else is putting in money and building the TAPI pipeline, go for it. But we should get behind the Iran/Oman - India pipeline which sources gas from Qatar, Oman, Iran and the Caspian Sea gas, and also Russian gas. That way we can get the price that makes sense , won't be locked into a single supplier , bypass Pawkiss Tan and let it wither on the vine. The Russians would love that as well, more so, when it gives their gas access to the large Indian market and cuts dependence on the Europeans. The Russians would be better off selling their gas to China and India for the hard cash and reduce dependence on the Euro Munnas.

With Iran coming back into the international system and shedding the sanctions, we should simply get working on that and get an efficient sea borne and transshipment stuff going , and also the pipelines in place.

the reason land based pipelines are still talked about is because the extreme costs and maintenance involved with undersea pipelines. If undersea pipelines are same as land based things, then entire geopolitics would have been different. If we take out that factor and discuss everything becomes hallow. From that perspective Pawk is still a relevant shit.
NRao
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Re: Oil & Natural Gas: News & Discussion

Post by NRao »

How some idiotic people in (most?) nations play with the lives of others - be it within or without their own nation!!

Saudi Arabia stocks fall sharply on tax rises

Not even sure how an autocratic, self-centered, phobic naion can even have a stock exchange and have someone to represent them at the economics table. Eh?
Saudi Arabia's stock market has fallen sharply after it announced public spending cuts and rises in tax, fuel and energy prices in 2016.

The country's main stock index fell 3% in the opening 15 minutes of trade with petrochemical firms worst hit.

Saudi Basic Industries, the biggest petrochemical producer, tumbled 8.3% while Saudi Kayan lost 4.8%.

Saudi Arabia's budget deficit soared to $98bn (£65.7bn) this year on the back of falling crude prices.

In the first budget under King Salman, the kingdom said revenues reached 608bn riyals (£108.7bn; $162bn), down 15% on official expectations.

Spending for the year hit 975bn riyals, some 13% more than forecast.

To help make up the shortfall, the country's finance ministry said it would cut subsidies for fuel.

Petrol prices could in some cases increase by as much as 50%, authorities said, although they will remain low by international standards.

Diesel, electricity and water prices will also increase.

King Salman said the budget came "in light of the decrease in oil prices, the economic and regional and international financial challenges - where global economic growth has declined from its previous level - and the lack of stability in some of the neighbouring states."
Oil revenue

Oil prices have plunged from a five-year high of $125 a barrel in March 2012 to just $37.18 now.

Saudi Arabia said that oil revenues, which make up 77% of the total revenue figure for 2015, are down 23% compared to last year.

It is the largest member of the Opec oil-producing cartel and has refused to cut output in order to raise prices in an attempt to put other producers - mainly US shale oil companies - out of business.

Saudi thinks it can withstand low oil prices for longer than US producers, many of which are small, heavily-indebted firms.

Spending on military and security projects reached 20bn riyals in 2015, Saudi Arabia said, following its intervention in Yemen as well as action against militant group Islamic State.

The majority of the increase in overall spending was on salaries to civil and military Saudi employees
vishvak
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Re: Oil & Natural Gas: News & Discussion

Post by vishvak »

For that matter, how can an international currency tagged to Saudi oil, while presuming that the run on oil monies will go on and on and on.
kmkraoind
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Re: Oil & Natural Gas: News & Discussion

Post by kmkraoind »

Qatar slashes gas price for India, waives off Rs 12,000-cr penalty - Economictimes

Since there are no "collection agents" or scamstars in this govt, Bharath is getting best deals and is levering its "big buyer" position more efficiently.
Prem
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Re: Oil & Natural Gas: News & Discussion

Post by Prem »

kmkraoind wrote:Qatar slashes gas price for India, waives off Rs 12,000-cr penalty - EconomictimesSince there are no "collection agents" or scamstars in this govt, Bharath is getting best deals and is levering its "big buyer" position more efficiently.

And Foreign debt is down by 6 Billion $.
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Re: Oil & Natural Gas: News & Discussion

Post by Rishirishi »

kmkraoind wrote:Qatar slashes gas price for India, waives off Rs 12,000-cr penalty - Economictimes

Since there are no "collection agents" or scamstars in this govt, Bharath is getting best deals and is levering its "big buyer" position more efficiently.
The way things are going, oil and energy sellers have become the ones who stand cap in hand. India can get Gas from Iran, Qatar, Kuwait, or even USA. It will of course invest in Solar power as well.
JE Menon
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Re: Oil & Natural Gas: News & Discussion

Post by JE Menon »

^^not to mention our own oil and gas reserves, as well as East African and East Med plays. The gradual thrust from fossil fuels to hybrid and on to complex hybridization on country energy mixes is gathering pace. Worldwide, not just in India. Inevitably and necessarily.
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Re: Oil & Natural Gas: News & Discussion

Post by chanakyaa »

chanakyaa
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Re: Oil & Natural Gas: News & Discussion

Post by chanakyaa »

Lower Oil Price Politics..

Lower oil prices hurts Russia, but the numbers suggested in the following articles, if correct, suggests that significantly lower oil prices (maintained naturally or artificially) for extended periods will seriously hurts Russian economy, to the point it can cause serious internal conflicts/color revolutions.

Russia's Reserve Fund could run empty in 2016
Russian Finance Minister Anton Siluanov prompted more concerns over the health of the Russian economy Tuesday when he said there was a danger that the country's vast Reserve Fund could be entirely exhausted in 2016 if oil prices stay at their current level.
He told members of the upper house of parliament that if oil prices stayed around the current level of just below $50 a barrel and the dollar exchange rate remained unchanged, the budget may fail to receive 900 billion rubles ($14.14 billion) in revenues, Russian news agency TASS reported Tuesday.
This means, oil at or around $30 is a serious problem for the Russians. That explains the lower oil price politics. This is hurting Smoothie Barbaria so much, that instead of lowering the supply they are willing to let go of their cash-cow, Aramco, taxing the hell of their population, and raising debt. This is unbelievable. And, guess who will be buying the shares, and eventually own the world’s large gas station…

Aramco IPO - Could Saudi Aramco Be Worth 20 Times Exxon?

Statement by Saudi Aramco

Lower dollar revenue is not positive for Russia. Ruble has been sliding against dollar and euro. This makes all import which can only be bought using dollar/euro very expensive. To fix this Russians may have created a solution.

Russian Oil Sales only in Ruble??
….Later in November the Russian Energy Ministry has announced that it will begin test-trading of a new Russian oil benchmark. While this might sound like small beer to many, it’s huge. If successful, and there is no reason why it won’t be, the Russian crude oil benchmark futures contract traded on Russian exchanges, will price oil in rubles and no longer in US dollars. It is part of a de-dollarization move that Russia, China and a growing number of other countries have quietly begun….
If successful, Europe and Asia must have produce rubles to buy Russian oil. And the only way to get rubles, is to sell things to Russia, or borrow from Russians, to receive rubles which can later be used to buy oil.

Chinese also have been trying to introduce yuan based oil, but the recent turmoil in the market may have delayed those plans.

The Long Wait for Chinese Oil Futures Continues
Rishirishi
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Re: Oil & Natural Gas: News & Discussion

Post by Rishirishi »

The price of Aramco will be directly linked to the oilprice. Note that the current price is hovering just above the 30 mark.

Me thinks this has a lot to do with Saudi/Iran. Sunni Saudis first and foremost aim is the spread Wahabi Islam. If Irani would gain massive revenues, it certainly would be used to finance Shia expansion and Shia breakaway groups. Sunnis would finance their own. The entire Muslim world could become a massive warzone.

Make no mistakes, in the Muslim world, they would never compromise in order to gain peace. Becase they know any peace cant be longterm any way. It will only be a tactial move.
deejay
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Re: Oil & Natural Gas: News & Discussion

Post by deejay »

Oil still falling :

https://www.rt.com/business/328595-bren ... l-falling/
Brent crude oil falls below $31 a barrel for 1st time since 2004
Published time: 12 Jan, 2016 06:17

A key oil benchmark plunged below $31 per barrel Tuesday, continuing the downward trend of the previous day. Brent crude traded as low as $30.67 on the market.
TSJones
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Re: Oil & Natural Gas: News & Discussion

Post by TSJones »

interesting perspective from a guy who helped develop fracking production in the US...

http://finance.yahoo.com/news/saudis-fa ... 29492.html
There's growing evidence that Saudi Arabia's attempt to flood the crude market at a time of oversupply and concerns about weakening demand is not working, American oil billionaire Harold Hamm said Tuesday.

"We're in a predatory pricing environment. That's what's happened. The Saudis turned 1.8 million barrels on, and basically their intent was to drown us. But they've not got that done. It's been a monumental mistake for them, I might add, a trillion- dollar mistake," the founder and chief of Oklahoma-based Continental Resources (NYSE: CLR) told CNBC's " Squawk Box."
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