Oil & Natural Gas: News & Discussion

The Technology & Economic Forum is a venue to discuss issues pertaining to Technological and Economic developments in India. We request members to kindly stay within the mandate of this forum and keep their exchanges of views, on a civilised level, however vehemently any disagreement may be felt. All feedback regarding forum usage may be sent to the moderators using the Feedback Form or by clicking the Report Post Icon in any objectionable post for proper action. Please note that the views expressed by the Members and Moderators on these discussion boards are that of the individuals only and do not reflect the official policy or view of the Bharat-Rakshak.com Website. Copyright Violation is strictly prohibited and may result in revocation of your posting rights - please read the FAQ for full details. Users must also abide by the Forum Guidelines at all times.
Kakkaji
BRF Oldie
Posts: 3166
Joined: 23 Oct 2002 11:31

Re: Oil & Natural Gas: News & Discussion

Postby Kakkaji » 16 Sep 2018 07:26

Philip wrote:On the contrary we should increase supplies from Iran if the price is right.Oil from the cheapest supplier.India is not a puppet state of ghe US.


Fine, but how will you pay them? With the US sanctions you will not be able to pay them in dollars. Iranians will not accept the full payment in Rupees.

Mort Walker
BRF Oldie
Posts: 7020
Joined: 31 May 2004 11:31
Location: The rings around Uranus.

Re: Oil & Natural Gas: News & Discussion

Postby Mort Walker » 16 Sep 2018 08:13

Kakkaji wrote:
Philip wrote:On the contrary we should increase supplies from Iran if the price is right.Oil from the cheapest supplier.India is not a puppet state of ghe US.


Fine, but how will you pay them? With the US sanctions you will not be able to pay them in dollars. Iranians will not accept the full payment in Rupees.


As Philip would say, pay them in Rubles, but the Iranians won't accept those either. They want USD or the Euro.

Austin
BRF Oldie
Posts: 22358
Joined: 23 Jul 2000 11:31

Re: Oil & Natural Gas: News & Discussion

Postby Austin » 16 Sep 2018 13:12

Kakkaji wrote:
Philip wrote:On the contrary we should increase supplies from Iran if the price is right.Oil from the cheapest supplier.India is not a puppet state of ghe US.


Fine, but how will you pay them? With the US sanctions you will not be able to pay them in dollars. Iranians will not accept the full payment in Rupees.


Euro , Europe is commited to the nuclear deal and will buy Iran energy and pay in Euros

Gyan
BRFite
Posts: 1126
Joined: 26 Aug 2016 19:14

Re: Oil & Natural Gas: News & Discussion

Postby Gyan » 18 Sep 2018 09:46

The method to buy Iranian crude would-be to designate some refineries as specific consumers of Iranian crude and Park the money that is to be paid to Iran in Russia. That is to say that some refineries will try to stay outside the US financial system and its reach and start consuming Iranian crude.
The payments will be made in US dollars at the instance of Iran directly to the creditor nations from whom Iran is purchasing goods like Russia, China etc.
While the purchase of Iranian crude will go down a bit but simultaneously International crude prices will go up. there will be major inconvenience for everybody but the net result on Iran would be very minimal.
In 1980s Saudi Arabia brought down the crude oil prices to US dollar 10 per barrel, but now the Saudi and American lobby want to keep the oil prices high. Hence Russia, Iran and Iraq will remain strong and outside USA influence & will be joined by Libya, Algeria, Venezuela, Syria, Qatar etc

Lisa
BRFite
Posts: 947
Joined: 04 May 2008 11:25

Re: Oil & Natural Gas: News & Discussion

Postby Lisa » 19 Sep 2018 01:08

Austin wrote:Euro , Europe is commited to the nuclear deal and will buy Iran energy and pay in Euros


SWIFT will not permit payments to Iran so how do you see this working.

Peregrine
BRF Oldie
Posts: 6270
Joined: 11 Aug 2016 06:14

Oil & Natural Gas: News & Discussion

Postby Peregrine » 20 Sep 2018 20:10

X Posted on the Iran News and Discussions Thread

India set to pay for Iranian oil using rupee from November: Sources – Reuters

NEW DELHI: India will settle payments for Iranian oil using through local banks starting in November as will make it difficult to settle trades through European banks, two industry sources said on Thursday.

In May, US President Donald Trump withdrew from a 2015 nuclear accord with Iran and ordered the renewal of US sanctions. Some sanctions took effect from August 6 while those affecting the oil and banking sectors will start from November 4.

"We are bracing up for any eventuality we have to make a payment and we don't want to default on making payments," one of the sources said.

The sources said India has selected UCO Bank and IDBI Bank for facilitating payment to Iran.

Indian refiners are currently using State Bank of India and Germany-based Europaeisch-Iranische Handelsbank AG to buy Iranian oil in euros. SBI has told refiners it would stop handling Iran payments from November.

The second source said after the United States announced it would re-impose sanctions in May, Iran has already received payments for some cargoes in rupee.

Reuters in June reported that India is looking to revive the its earlier rupee payment mechanism with Iran. During the previous sanctions regime, India adopted a barter-like scheme to buy oil from Iran while the Middle Eastern country used rupees to import goods from India.

"Previously we settled 45 per cent of our trade in rupees this time it could be 100 per cent. We have to mutually decide the number," said the first source.

India, Iran's top oil client after China, is still seeking some exemptions to the sanctions from the US though some refiners have already curtailed purchases because of insurance issues
tied to the sanctions.

IDBI did not respond to requests for a comment while UCO Bank's Managing Director R K Takkar did not respond to phone calls seeking comment

Cheers Image

Austin
BRF Oldie
Posts: 22358
Joined: 23 Jul 2000 11:31

Re: Oil & Natural Gas: News & Discussion

Postby Austin » 16 Oct 2018 09:53

PM's Appeal To Oil-Producing Nations Gets A Negative From Saudi Minister

https://www.ndtv.com/india-news/pms-app ... ome-livetv

Austin
BRF Oldie
Posts: 22358
Joined: 23 Jul 2000 11:31

Re: Oil & Natural Gas: News & Discussion

Postby Austin » 24 Oct 2018 11:51

India’s Arctic energy partnership with Russia

https://www.lowyinstitute.org/the-inter ... hip-russia

Vips
BRFite
Posts: 1372
Joined: 14 Apr 2017 18:23

Re: Oil & Natural Gas: News & Discussion

Postby Vips » 23 Nov 2018 03:10

70% of Indians to have city gas connection in 3 years.

Reiterating his commitment to developing a gas-based economy, Prime Minister Narendra Modi said that in the next 2-3 years, 70 per cent of the country’s population will be connected with the city gas distribution (CGD) network.

Speaking at an event organised to lay the foundation stones for multiple CGD projects awarded during the ninth round of bids, Modi said, “More than 400 districts covering 70 per cent of India’s population will have access to the CGD facility in the next 2–3 years after the completion of work under the ongoing 10th round of bidding.”

The CGD projects flagged off by Modi on Thursday are spread across 65 geographical areas (GAs) in 129 districts. These were awarded under the ninth bidding round. During the event, the Prime Minister also launched the 10th CGD Bidding Round in 50 GAs spread over 124 districts in 14 States covering 24 per cent of the country’s population.

The CGD network is in keeping with what had said in 2015 at the Urja Sangam, a global meet on hydrocarbons.

At the meet, he had called for enhancing the domestic production to reduce the energy import bill of the country by at least 10 per cent by 2022. He had also said that his government aimed to extend the reach of Piped Natural Gas (PNG) to one crore houses in the next five years.

Growing coverage

In 2014, only 66 districts were covered by the CGD network. But today, CGD projects are being implemented in 174 districts, the Prime Minister said. As per the commitment made by various entities in the ninth bidding round, around 2 crore PNG (domestic) connections and 4,600 CNG stations are expected to be installed in the next eight years across the country. This has expanded the potential coverage of the CGD network to about 50 per cent of population spread over 35 per cent of India’s geography.

In total, 86 GAs were awarded during the ninth round. Of these, two awards were challenged and therefore are sub-judice. Some fall in regions where elections are due, and hence, are under the model code of conduct. This is why the PM laid the foundation stones for projects in just 65 GAs from New Delhi. “The government is focussed on developing a gas-based economy. LNG terminals, a nationwide gas grid and a city gas distribution network are being developed to strengthen the gas infrastructure across the country,” Modi said.

Minister for Petroleum and Natural Gas, Dharmendra Pradhan said, “Presently, the share of gas in the country’s energy mix is just over 6 per cent and the aim is to reach the 15 per cent mark, while the world average is 24 per cent.”

“Efforts are not only being made to increase the use and supply of gas, but also to produce gas through agro-wastes and other products and include the same into the CGD network,” Pradhan added.

According to the Ministry, till September, 96 cities or districts in different parts of the country were covered under the CGD network development plan. About 46.5 lakh households and 32 lakh CNG vehicles are availing the benefit of clean fuel through the existing CGD networks.

Vips
BRFite
Posts: 1372
Joined: 14 Apr 2017 18:23

Re: Oil & Natural Gas: News & Discussion

Postby Vips » 04 Dec 2018 03:57

IOC aims to be global refinery tech provider.

With the edge proffered by its R&D centre, Indian Oil Corporation Ltd (IOC), the over-$70-billion public sector oil giant, is transitioning from an adopter to provider of indigenously developed refinery technology to the world.

Its R&D now has the capability to supply about 90 per cent of the technology needed to set up a modern greenfield refinery.

Two major developments
Meanwhile, the company’s R&D operations are getting strengthened for the future with two major developments.

First, it is on the verge of becoming a full-fledged refinery technology player from concept to commercialisation. Second, its upcoming ₹2,300-crore world-class R&D facility, about 8 km from the existing one in Faridabad, is expected to provide a significant technological edge to IOC not just in its core refinery and lubricants segment, but also in alternative energy areas.

The oil major’s R&D centre in Faridabad has commercialised at least a dozen technologies at various plants of the company. The cumulative improvement in GRM (gross refining margin) on account of the adoption of own technologies at IOC refiners is estimated at ₹1,577 crore per year.

Its flagship INDMAX is a residue upgradation technology that maximises the LPG yield in a refinery. This technology has won many international awards, beating global refinery giants such as BP and Total.

Crossing boundaries
“The time has come now for us to cross national boundaries to license our INDMAX technology. At least six overseas refineries are in advance stage of dialogue with our licensing partner to deploy INDMAX,” said SSV Ramakumar, Director - R&D, Indian Oil, in Faridabad. The R&D centre is on the verge of acquiring engineering and other related capabilities.

“We are essentially a process developer and our engineering capabilities have been led by Engineers India Ltd. However, we will be correcting this situation, acquiring and augmenting engineering capabilities also with the second R&D centre. So, we will have capabilities right from the lab to commercialisation/licensing in five years,” said Ramakumar.

Some progress has already been made. IOC can now handle at least four-five of its own refinery technologies without an engineering partner.

Second R&D unit
Ramakumar said the construction work for the second R&D unit — Technology Development and Deployment Centre — is being taken up. It will be a net zero power and water usage campus.

“The first phase of the second R&D unit will be operational by 2021 as per our plan,” he said.

With increased focus on alternative energy areas, the company will double its current R&D spend of ₹300 crore in the coming years. Also, the present 400-strong scientific team at the existing R&D campus will see an addition of 100 people.

“Apart from infrastructure and sophisticated equipment, human capital will be our biggest asset. We hope to have a strong 1,000-member team in both the campuses put together by 2023, said Ramakumar.


Return to “Technology & Economic Forum”

Who is online

Users browsing this forum: chaitanya, sooraj and 8 guests