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This is rubbish article. We can get oil from Iran, Kuwait, Nigeria for next 30 years.abhishek_sharma wrote:Is India too late for the Asian oil-guzzling party?
http://oilandglory.foreignpolicy.com/po ... ling_party
According to the plan the entire Middle east will be blocked and quarantined for 30-40 years.Neshant wrote:not if US plans to invade iran and grab/sabotage its resources.
Countries such as India that are dependent on imports to meet their oil needs are particularly vulnerable to price volatility. Extreme volatility has marked the crude oil price, which reached a record $147 (Rs6,894.3) per barrel in July 2008, but has since fallen to around $74. India has also been inviting oil-producing West Asian nations to set up storage facilities on the country’s coastline to help them serve their energy markets in Asia such as Japan.
attack on iran must be close at hand ?Ameet wrote:India oil reserves to meet 78 days’ needs
http://seattletimes.nwsource.com/html/b ... ndication=NEW YORK —
Shares of Quicksilver Resources Inc. surged Monday on a report that the natural gas and oil producer is in talks with Reliance Industries, India's most valuable company.
THE SPARK: Daily News & Analysis in India reported that the two companies are discussing options including a partnership or acquisition. The publication quoted anonymous sources familiar with the deal. Neither company could be reached for comment Monday afternoon.THE BIG PICTURE: Reliance Industries Chairman Mukesh Ambani told shareholders last month that he would push into two new sectors, power and telecommunications. Reliance Industries operates and currently produces 60 million metric standard cubic meters a day of natural gas from the KG-D6 basin, India's largest known deposit. Last month the company agreed to pay $1.3 billion for a stake in the shale gas assets of Texas-based Pioneer Natural Resources Co. in a move to expand its upstream business in North America
Recently skimmed an article (in Time or BW) which said that the military option against Iran is back on the table, one reason being the encouragement for that by Iran's Sunni neighbors.Neshant wrote:attack on iran must be close at hand ?
New Delhi: Oil & Natural Gas, India's biggest energy explorer, plans to spend a record $5 billion to develop gas fields to boost output by almost 60 per cent in six years, two people with direct knowledge of the matter said.
The New Delhi-based explorer sought permission from the country's oil and gas regulator on July 16 to invest the funds in nine natural gas discoveries off India's east coast to produce 35 million cubic metres a day by 2016, one person said, declining to be identified before the Directorate General of Hydrocarbons approves the plan.
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India is ramping up gas output at the fastest pace in the world, according to BP's 2010 Statistical Review of World Energy, after companies including Reliance Industries discovered new fields.
"ONGC has been discovering new reserves for a while but the concern is being able to convert them to production," said Rohit Ahuja, a Mumbai-based analyst with Centrum Broking in Mumbai.
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"The company is looking to address this with the very good discoveries they have in the east coast."
The producer of almost 25 per cent of the crude oil used by India, Asia's third-largest energy-consuming nation, is starting new fields at home as output declined at aging areas off the west coast.
Reserves added in fields operated by ONGC in the year ended March was the equivalent of 82.98 million metric tonnes, the highest in the past 20 years, the explorer said April 26. ONGC made 21 discoveries in the year, according to a May 28 statement on its website.
RIL and Essar to bid for BP assets in Africa
July 29, 2010 02:10 IST
Tags: RIL, Gulf Africa Petroleum Corp, Essar Oil, ATF, BP
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Private fuel retailers Reliance Industries Ltd [ Get Quote ] and Essar Oil [ Get Quote ] have joined the race for BP assets. RIL and Essar are interested in BP's retail outlets, terminals and aviation turbine fuel (ATF) facilities in at least four countries in Africa.
The move coincides with ONGC [ Get Quote ] Videsh's [ Images ] plans to bid for a BP stake in a Vietnam oil field, along with PetroVietnam. BP wants to exit the field to partly make up for the $32 billion cost it has set aside for the Gulf of Mexico cleaning and compensation. A senior executive in a domestic oil company, though, said the sale of retail assets in Africa was not connected to the spill.
RIL and Essar are among a dozen companies, including PetroSA, who are evaluating the sale of BP retail assets in Africa. When asked, spokespersons of the two companies said they did not comment on speculation.
A PTI report said BP was selling retail outlets, terminals and aviation fuel stations in Botswana, Tanzania, Namibia, Malawi and "possibly" Zambia, to cover costs related to the worst oil spill in US history. The executive, however, said the global giant had been trying to slowly move out of petroleum retailing prior to the April blow-out that resulted in the spill.
BP controls as much as 70-80 per cent of the ATF market in some African countries. "BP, that roughly has around 20 per cent market share in these countries, had been trying to sell its retail assets in Africa prior to the spill. It is part of a trend among global companies to focus attention in the upstream oil and gas production business," he added.
Indian Oil Corporation today signed an MoU with Tamil Nadu Industrial Development Corporation Ltd (TIDCO) to set up a Rs 3,000-crore LNG re-gasification terminal and gas-based power plant at Ennore and gas pipelines for distribution.
. . .this MoU encompasses setting up a 2.5 million tonnes per annum LNG terminal. The capacity of this terminal can be later increased to 5 mt.
The complex at Ennore will also include a 1,000 MW LNG-based power plant that is likely to cost around Rs 5,000 crore driven by the LNG re-gasification terminal and gas-based power plant, Ennore will become a Special Economic Zone, that will spawn a grid of gas pipelines criss-crossing the demand centres across Tamil Nadu and other Southern States.
The question is if these dinosaurs have the technology to get the gas out.Oil & Natural Gas Corp (ONGC)-led consortium of state-owned energy firms has proved commercial viability of its Mahanadi gas find, paving the way to start production from the field having about 2.7 trillion cubic feet (tcf) natural gas reserves.
IT’S official now. Cairn India has hit yet another large oil and gas reserve. This time in Andhra Pradesh’s Godavari district. With this, Cairn has been involved in at least 40 gas finds across India.
The fourth successful exploration well on the block, the KGV-D3-W1 discovery well was drilled to a total measured depth of 10,010 feet (3,051 meters) in waters measuring 5,423 feet (1,653 meters) deep. The Dhirubhai-52 discovery well transected a gross natural gas pay zone of 123 feet (37.5 meters) in Piocene-aged sands.
When I was a high school student in the early 80's the conventional wisdom was that Oil would run out by the year 2000 but guess what 2000 has come and gone and we still have Oil. I am not saying that it won't run out it may...but that all these peak oil therories are vapourware. All that the peak oil people seem to do is to move the target date back by 20 years just as the Russian Communists used to do when announcing the date of the arrival of true communisiom!!wig wrote:the German Military has conducted an instructive study into the problems that economies will face as oil production peaks. the study has apparently leaked. it makes for good reading. i have posted few extracts...
We should be carefull about the negative effect on the environment. Especially, to the water resources.Gerard wrote:India emerges as shale gas hub
Water represents the major vector of transfer of oil shale industry pollutants. One environmental issue is to prevent noxious materials leaching from spent shale into the water supply.The oil shale processing is accompanied by the formation of large amounts of different process waters and waste waters containing phenols, tar and several other products, heavily separable and toxic to the environment.A 2007 programmatic environmental impact statement issued by the United States Bureau of Land Management stated that surface mining and retort operations produce 2 US gallons (7.6 l) to 10 US gallons (38 l) of wastewater per tonne of processed oil shale.
Reliance Industries has made its fourth natural gas discovery off the eastern coast of India.
The KGV-D3-W1 discovery well, which is located at block KG-DWN-2003 / 1 in the Krishna Godavari Basin, encountered a gross gas pay zone of 37.5m in Pliocene aged sands
India's federal government is considering whether to sell 10% of its stake in Indian Oil Corp. and 5% of its stake in Oil & Natural Gas Corp. by March.
The government holds a 78.92% stake in Indian Oil and a 74.14% stake in ONGC, India's flagship oil and gas explorer.
India is looking to raise 400 billion rupees ($8.6 billion) this financial year by selling a small part of its holdings in several state-run companies to fund social and infrastructure projects and reduce its fiscal deficit. It is set to launch an initial share sale of Coal India Ltd., the world's largest-listed mining company by production in October.
India cannot keep 'mulling' for decades while China keeps pulling the rug from under our feet. This project must have been initiated a long time back. A landline through Pakistan is an absolute 'No Go'. That country is slowly but surely collapsing and we cannot tie up important Indian industries (power & fertilizer) to a terrorist state. GoI was pressurized and made indecisive by vested interests for over a decade now. We could predict the Pakistani slide even a decade back and one wonders how all these wonderful 'think tanks' could not do that and deprived India of an important source of energy."India has expressed willingness to restart negotiations through an international firm, to independently import natural gas from Iran via a sea pipeline," Iran Daily quoted deputy oil minister and managing director of the National Iranian Gas Company ( NIGC) Javad Owji as saying.
"No exact date has been yet finalised for the gas talks between Iran and India but they are expected to start after the month of Ramadan," Owji said.
He said that no decision has been yet taken on how to export Iran's gas to India.
Meanwhile, the report said that Bangladesh also has made a proposal to receive Iran's natural gas through the regional gas pipeline.
While I truly believe that the earth is going to lose out to humankind's activities in the long run (rajkumar wrote:When I was a high school student in the early 80's the conventional wisdom was that Oil would run out by the year 2000 but guess what 2000 has come and gone and we still have Oil. I am not saying that it won't run out it may...but that all these peak oil therories are vapourware. All that the peak oil people seem to do is to move the target date back by 20 years just as the Russian Communists used to do when announcing the date of the arrival of true communisiom!!wig wrote:the German Military has conducted an instructive study into the problems that economies will face as oil production peaks. the study has apparently leaked. it makes for good reading. i have posted few extracts...
), predicting the end of oil has certain limitations. GAIL Gas, a wholly-owned subsidiary of GAIL (India) has tied-up Rs 4 billion from OIDB for expanding its network of natural gas distribution in more cities, a top company official said, reports agency source. The company currently distributes in six cities such as Dewas, Sonepat, Kota and Meerut, among others, and is in the fray to win the bids for eight more.
Russia's Natural Resources Minister Yuri Trutnev said on Tuesday that India's ONGC was the only foreign oil company to place a bid for Russia's giant Arctic Trebs and Titov oil deposits.
"The deposits are classified as strategic, and so it is up to a government commission to decide whether can participate alone, but I doubt that will be the case. I would be surprised," Trutnev told reporters.
On Monday, Nord Imperial, the Russian subsidiary of ONGC, India's state-run oil and gas company, submitted its bid application for the fields to Rosnedra, the government agency responsible for subsoil licences.
Trutnev confirmed that oil firms LUKOIL, Russia's No.2 oil producer, TNK-BP, half-controlled by BP, Gazprom Neft, Surgutneftegaz, and mid-sized firm Bashneft also placed bids.
The Trebs and Titov deposits, the largest unallotted hydrocarbon fields remaining in state reserves, holding an estimated 200 million tonnes of oil reserves, will be sold at a government auction on Dec 2.
Rosneft, the country's largest oil producer, did not bid, but the firm's new President, Eduard Khudaynatov, said it would consider joining the project if a potential partner wins the bid, Platts reported.
Khudaynatov did not say which of the six bidders was a potential partner, but previous reports have named ONGC.
Last month, sources in ONGC and Rosneft told Russian business daily Vedomosti that ONGC proposed a joint bid for the oil fields to Rosneft.
In March, the Russian government said it would consider allowing ONGC to enter the running for development rights of the Trebs and Titov fields, as the country was looking to double trade with India to $20 billion by 2015.
SAGE, an Indian private sector initiative, is a joint venture between the Siddhomal group, an Indian firm, and UK-based Deep Water Technology Co. The venture is independent of state-to-state negotiations for implementing trans-national pipelines which have generated headlines in recently. The consortium has claimed financial feasibility in connecting India to the Gulf and is looking to create a $3-billion natural gas transportation infrastructure, with another $3 billion needed if Iran is brought into the loop.
If all goes well, the SAGE energy corridor is expected to be completed by about 2015. The pipelines would reach a depth of 3,500 meters and the terrain has been extensively surveyed over the last two decades.
In the first phase, 31 million cubic meters per day (1.1 Bcf per day) could be transported to the Indian west coast from Qatar. Three pipelines are expected to be laid. The deepwater pipelines will traverse the Arabian Sea south of territorial waters and economic exclusion zones of all third party nations.
The financial and technical issues are challenging. No pipelines have ever traversed such deep waters. But a senior official from GAIL, told Energy Tribune “We expect that the pipeline will draw good investment response from players in India and West Asia . GAIL has procured intensive studies conducted by leading oil and gas industry deepwater pipeline specialists, Heerema Marine Contractors and INTECSEA, who have said that the Mideast pipeline project is technically feasible. This was an important consideration in signing the deal with SAGE.’’
DUBAI: India is actively considering building a 2,000-km-long deepwater transnational gas pipeline from Oman for transporting natural gas sourced from Turkmenistan, Iran and Qatar, a leading industry official has said.
The proposed sub-sea pipeline will meet the additional gas requirement of the UAE, Oman and India, besides easing gas transportation issues of producing countries like Turkmenistan, Iran and Qatar, Subodh Kumar Jain, Director of South Asia Gas Enterprise (SAGE), told Times of Oman.
SAGE, a joint venture between the Siddhomal group, UK-based Deep Water Technology and an Indian firm, is a special project vehicle for building the 2000-km long-sub-sea pipeline.
"We are trying to create an energy corridor. It is a grand scheme of several pipelines. It will connect energy producing countries like Iran, Turkmenistan, Qatar, and will pass through the UAE and Oman, all the way to India," Jain told the newspaper.
As per the plan, the pipeline will originate from Oman and will end either in Gujarat or Maharashtra.
For the gas to be routed to Oman from Qatar, Iran and Turkmenistan, additional pipelines will be needed.
Gas sourced through this will carry an additional transportation tariff, which will accrue to SAGE.
India imports around 26mscmd of LNG. The country is short on natural gas. It needs around 180mscmd, while the supply is 106mscmd.
Jain said the main sub-sea pipeline between Oman and India will cost between $3 to 4 billion.
"We are now discussing with Iran, Turkmenistan and Qatar for sourcing gas for the proposed pipeline. That is the biggest challenge. Besides, there are a lot of geopolitical and security issues involved," Jain said.
After ensuring gas, it will take five years to completed the project. The pipeline will be designed and built by an international consortium.
Demand for gas in India will continue to exceed supply from domestic sources and imported gas will play an important role in bridging the demand-supply gap in the Indian market.
This proposed India-Oman deepwater natural gas pipeline represents a potential major shift in the connectivity networks linking Central Asia to South Asia. Once laid, pipelines help determine geopolitical realities for decades, as a glance at the legacy impact of Soviet-Russian pipelines on Central Asian politics reveals. If the Gulf serves as an effective workaround to bypass the Afghanistan-Pakistan transit route, it would dramatically reduce the strategic logic of stabilizing the Af-Pak region. The fact that Iran is involved in this deal as a source country is also a major plus, as it applies additional commercial constraints on Tehran to keep the Gulf open and stable.
Ironically, Iran's participation in the IPI (Iran-Pakistan-India) pipeline route would have further reinforced widely shared interests in a stabilized Afghanistan. But the Pakistan-India rivalry proved even stronger than the U.S.-Iran enmity toward scotching that deal. This strikes me as an even better alternative, because it doesn't come attached with the need to maintain a dodgy and unreliable strategic partnership with Pakistan. And though the U.S.-Iran relationship moving forward is far from a cakewalk (see this Marc Lynch post that deserves all the attention it's gotten), I think Washington and Tehran have a better chance of reaching a modus vivendi than New Delhi and Islamabad do.
This is again a pipeline that has been hanging fire for nearly two decades now. China will silently pull the rug from under our feet as well.
India dont need to rush into making such long term commitment. Let PRC not be a factor in this.Agreed.Prem wrote:..India dont need to rush into making such long term commitment. Let PRC not be a factor in this.