Re: Oil & Natural Gas: News & Discussion
Posted: 02 Apr 2010 15:05
first they need to hand over the 26/11 terrorist.
no pipeline is going to be profitable without India.
no pipeline is going to be profitable without India.
Consortium of Indian Defence Websites
https://forums.bharat-rakshak.com/
US warns India, Pak against Iran pipeline
Posted: Friday , Apr 02, 2010 at 1812 hrs
Washington/New York:
With India still keen to join an ambitious gas pipeline project involving Iran and Pakistan, the US has warned all countries against engaging in transactions with Tehran at a time when sensitive talks are on to consider additional sanctions on it over its nuclear issue.
“Our concerns about the government of Iran are very well known. Given its current unwillingness to address its international obligations and international concerns about its nuclear programme, we don’t think that this is the time for such transactions to be taking place with Iran,” Assistant Secretary of State for South and Central Asia, Robert Blake, said.
He was referring to the USD 7.5 billion gas pipeline deal signed last month between Pakistan and Iran, a project in which India has shown renewed interest.
India’s Petroleum Ministry says that a decision on joining the Iran-Pakistan gas pipeline should not be governed by politics, although talks have hit roadblocks on issues ranging from pricing of gas to security of the pipeline.
Last month, a source close to the Indian companies said it was keen to talk to Gulfsands should the opportunity arise. Mr Brough said at the time one reason that Gulfsands' management might hold back from talks with the Indian companies would be if it had much higher oil reserves than originally thought. At its full-year results last week, Gulfsands said it had increased its proved and probable oil (2P) reserves, the most common measure of oil reserves, by 25pc to 50.7mmboe (million barrels of oil equivalent
OT Alert - Guys, I've been seeing this quite often on the forum lately, replacing the 'r' with an 'l'; an obvious, intentional and hurtful put-down to those of Chinese / East Asian origin. While I am also not a fan of Chinese government policies towards India, is it absolutely necessary to carry out personal attacks on the Chinese (or any other identifiable group), as a people?Good news for US, Japan and India. Not so good news for our Chinese blothers.
Reliance gets both access to the technology and the market.Katare wrote:Reliance makes entry into shale gas technology and market......
RIL to invest $1.7 bn in Marcellus JV with Atlas
Quite agree. Remember that all chinease are not Chinease communist party people. Countries like Singapore, Taiwan and HK has also people of Chinease origin. I think we should use the correct term. Communist party in China.JimmyD wrote:OT Alert - Guys, I've been seeing this quite often on the forum lately, replacing the 'r' with an 'l'; an obvious, intentional and hurtful put-down to those of Chinese / East Asian origin. While I am also not a fan of Chinese government policies towards India, is it absolutely necessary to carry out personal attacks on the Chinese (or any other identifiable group), as a people?Good news for US, Japan and India. Not so good news for our Chinese blothers.
The internet offers us great anonymity, but does that mean we start saying stuff that we otherwise wouldn't to somebody's face? Can we not have a civilized debate without getting into personal, insulting remarks? We can criticize policies, the government, the officers, their ideas, etc. etc., without necessarily having to stoop down to offer frankly unnecessary and purely racist comments.
Anyways, this was just my 2 cents. I think here at BR we have a great forum and we should strive to maintain the high quality of debate that we're known for.
ndia will complete building its first strategic crude oil storage by October 2011 in an effort to insulate itself from supply disruptions.
India, which is 75 per cent import dependent to meet its crude oil needs, is building under-ground storages at Visakhapatnam in Andhra Pradesh and Mangalore and Padur in Karnataka to store about 5.33 million tons of crude oil. This is enough to meet nation's oil requirement of 13-14 days.
"The storage at Visakhapatnam will be mechanically completed by October 2011," said Rajan K Pillai, chief executive officer of India Strategic Petroleum Reserves Ltd - the state-owned firm building the strategic stockpile.
Visakhapatnam will have capacity to store 1.33 million tons of crude oil in underground rock caverns.
"Huge underground cavities, almost ten storey tall and approximately 3.3 km long are to be built (in Visakhapatnam)," he said.
A similar facility in Mangalore will have a capacity of 1.55 million tons and would be mechanically completed by November 2012. A 2.5 million tons storage at Padur, near Mangalore, would be completed by December 2012.
India will join nations like the US, Japan and China who have strategic reserves. These nations use the stockpiles not only as insurance against supply disruptions but also to buy and store oil when prices are low and release them to refiners when there is a spike in global rates.
However, the storage India is building is very small compared to the 90-day strategic stockpile in the US. New Delhi was considering to raise the storage capacity to 15 million tons to cover for 45 days requirement but no decision has been taken as yet.
The over 5 million tons strategic storage facility, Pillai said, was being built at an estimated cost of Rs 2,397 crore (at 2005 prices). "There is likely to be a price escalation because these cost estimates are based on 2005 prices. We think the cost may cross Rs 3,000 crore," he said.
ISPRL is a wholly-owned subsidiary of Oil Industry Development Board (OIDB) - a government body that lends money to energy projects.
Pillai said the cost of building the strategic stockpile is being provided by OIDB as equity to ISPRL.
"The three storages will be able to meet nation's oil requirement of 13-14 days (in case of emergency)," he said.
The cost estimate does not include the cost of purchasing 5.3 million tons of crude oil. "The crude procurement and how it will be managed will be the responsibility of the Government. Our job is to build the storage," he said.
Like the US, the government may buy crude oil when rates are low for stockpiling. It may release it to refiners during times of spike in global crude rates like those witnessed in July 2008 when prices touched an all-time high of USD 147.
Link is not workingwasu wrote:The Great Gas Hunt
The first ever on-site look at RIL’s operations in the KG basin
http://www.businessworld.in/bw/2010_04_ ... _Hunt.html
I think this is the same story-Chinmayanand wrote:Link is not workingwasu wrote:The Great Gas Hunt
The first ever on-site look at RIL’s operations in the KG basin
http://www.businessworld.in/bw/2010_04_ ... _Hunt.html
Economic TimesCairn starts second oil processing unit in R’sthan
PTI NEW DELHI
Cairn India has started a second crude oil processing plant at its giant Mangala oilfield in Thar desserts of Rajasthan, which will help the company ramp up output for the nation’s most prolific oilfield.
Mangala currently produces about 30,000 barrels of oil per day (1.5 million tonnes a year) which is processed at Train -1 near Barmer before being sold to refiners. “The company on Sunday initiated start up of Train-2 (second oil processing plant) which has a capacity of 50,000 bpd (2.5 million tons a year),” an industry source said.
Cairn will stabilise operations at Train-2 for the next few days and after commissioning it will help Mangala field production to ramp up to 80,000 bpd (4 million tonnes a year). Despite repeated attempts, company spokesperson could not be reached for comments. Peak output from Mangala is envisaged at minimum 1,25,000 bpd, expected in second half of this year.
Cairn output would help offset the decline in crude oil production at ONGC that could not meet its targeted output in 2009-10 fiscal.
The company can produce up to 2,40,000 barrels per day from Rajasthan fields, equivalent to output from the nation's largest oilfield of Mumbai High. Cairn India CEO Rahul Dhir last month wrote to the petroleum ministry and the sector regulator DGH informing that it can produce 37% more oil from the Thar dessert fields than previously thought. “Based on our review, we estimate that the potential resource in the (Rajasthan) block is now estimated to be 6.5 billion barrels of oil equivalent in place.
This resource base provides a basis for a vision to produce 2,40,000 barrels of oil per day, subject of course to necessary approvals and additional investments,” he wrote in identical letters to petroleum minister Murli Deora, oil secretary S Sundareshan and DGH director general S K Srivastava. The source said Cairn is building a third Train as also a 670-km heated pipeline to Salaya in Gujarat that would transport the crude from the field to refiners. Completion of Train-3 and the pipeline was expected over the next few months which will help take Mangala output to its peak. At present, the crude from Mangala is being trucked to Kandla Port and then shipped to MRPL and RIL. Special heated trucks transport the crude from Barmer to Gujarat Coast. Cairn already has tied up sale of 1,43,000 bpd to Governmentnamed offtakers Mangalore Refinery, Hindustan Petroleum, Indian Oil, Reliance Industries and Essar Oil.
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In a big-ticket investment aimed at giving a boost to its holding of oil and gas assets abroad, the Oil and Natural Gas Corporation Videsh Limited (OVL), along with its partners, entered into an agreement with the Venezuelan government on Thursday to develop a $20-billion oil project in that country.
The project is expected to give India 3.6 million tonnes of crude a year. OVL and its partners signed the agreement with Petroleos de Venezuela SA (PdV) for development and production of hydrocarbons from the Carabobo project in the Orinoco region.
The agreement was signed in Caracas in the presence of Venezuela President Hugo Chavez, Petroleum and Natural Gas Minister Murli Deora, Petroleum Secretary S. Sundereshan, ONGC chairman R.S. Sharma, OVL Managing Director R.S. Butoal and IOC chairman B.M. Bansal.
Spain's Repsol-YPF SA, Petroliam Nasional Bhd (Petronas) of Malaysia and OVL each hold a 11 per cent stake in the consortium that will produce 400,000 barrels of oil a day. IOC and Oil India Limited will each have 3.5 per cent interest in the joint venture to develop the Carabobo 1 Norte and Carabobo 1 Centro blocks, located in the Orino Heavy Oil Belt. Corporacion Venezolana del Petroleo, a unit of PdV, will hold the remaining equity. About half of the production from the joint venture, called PetroCarabobo SA, will be upgraded light crude oil for export.
The project cost has been pegged at $15–20 billion.
I read somewhere that they may salvage it. These rigs cost a fortune to build and operate. Apparently this particular rig was from 1977 and still cost ~$210 million to buy in 2007. For a similar rig (again 1977 built) Essar paid $240 million a couple of years ago. The day rates for these must be in several hundreds of thousands of dollars as well.saip wrote:Aban Offshore's gas rig sinks in Caribbean, stock down 17%
The gas rig that sank off Venuzuela is owned by an Indian Co
Gas Rig Sinks
Hope they have it insured and quickly replace it.
Aban gas rig loss to jack up energy cos’ insurance costs
Economic Times Link
Expect below 50 after this summer .The scam being run by the banks/wall street thugs will soon be over.Satya_anveshi wrote:Has anyone observed the crude oil futures price since the BP incident - behaving much like a Paki.
Having held in 80s (barring few weeks) since beginning of this year, it going downhill into lower 70s and may even slip into 60s in few days inspite of latest Obama whinefest on how Indians and Chinese buying more cars and will consume more oil.
Paki cant afford to loose Agosta ! and on top IN make Karachi burn again for few months as well give India the excuse to destroy Gwadar.ramana wrote:Again going back to Neshant's question:
- Are Indian Oil rigs vulnerable to the same "accident"?
- What if Paki "non state actors" rent/get hold of a 'lost' submersible from Paki Navy and sever a rig in Bombay High and blame discontended IM fisherman?
In the thread on Iran News & Discussion, I had posted the following last yearIn a sign of continuing interest in the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline, New Delhi has offered to host a technical meeting of experts under the aegis of the Asian Development Bank.
India has shown interest in the possibility of Turkmenistan exporting some of the gas to northern Iran. It could then be swapped with gas from Iran's southern seaboard into an under-sea pipeline, obviating the need for a surface Iran-Pakistan-India pipeline. {Certainly, the way to go. There are already such swap deals involving Turkmenistan, Iran & Turkey}
The SAGE (South Asia Gas Enterprise Pvt. Ltd.) project envisages a Middle-East natural gas gathering system connecting gas sources to the coast of the Arabian peninsula. From there, the SAGE family of pipelines plans to follow a route surveyed 15 years back and declared unviable as techniques of deepwater pipe-laying and manufacturing had not matured.
“Technology has made this feasible now,” said an official. The SAGE has finalised a MoU with National Iranian Gas Export Company for developing gas exports through this route, bypassing the territory of Pakistan. The Gas Authority of India Limited has also entered into a “principles of cooperation arrangement” for this sea route. However, the pipeline would pass on Pakistan's continental shelf. {I am quite delighted}
the time has come to seriously invest in deep-sea pipeline. Earlier, towards the end of last century, India investigated three options for evacuating gas from Iran to India (apart from LNG using ships). One was deep-sea (with some stretches around 3200 metres depth) from Oman to India (with another pipeline from the South Pars field of Iran to Oman), the second was a shallow and coast-hugging pipeline within the territorial waters of Pakistan along the Makran coast and the third was the landline through Balochistan etc. The deep-sea pipeline was dropped after some studies as the cost and technological challenges were found to be not worth it, especially crossing the Dalrymple trough. The shallow water line within the territorial waters of Pakistan could not even start because of Pakistani objections. The landline therefore appeared to be the only feasible route.
The deep-sea at that point of time was very challenging though it was not considered impossible. The deepest at that time was the still-under-construction Bluestream project which was at depths of ~2200 metres carrying gas to Turkey across the Blacksea. Since then, as oil&gas explorations at deeper oceans proliferate in search of new fields and as technologies improve, the Oman-India gas pipeline does not appear as challenging as it was a decade back. In fact, gas collecting pipelines regularly operate at >2500 m depths in the Gulf of Mexico and even in KG Basin oil fields to collect gas from wells, though they may not traverse great distances. In East Timor field, the pipeline is being considered at depths of 3500 metres. Pipelaying barges are available today that work beyond 3500 m depths, they have more accurate positioning capability so that pipelines can be laid exactly over the chartered route and pipes can be built to withstand the pressure requirements.
As distances increase, pipelines become very cost effective and attractive. Unfortunately, with practically no possibility of either IPI or TAPI, due to unsettled situations in Pakistan and Afghanistan for the foreseeable future, the Oman-India deep-sea pipeline must be immediately revived for India's energy security with Iran linking to the Oman pipeline.