There is likely to be downward pressure on gas prices
8The trend starts in Europe
8Find out why
Additional note: Despite immedite bearish tendencies, the high gas price environment is expected to last into 2022. In Europe and Asia spot prices are foreseen to average USD 26 and USD 27/MBtu respectively – both all-time high annual averages.
Prices are expected to decline in the second half of 2022 on improving supply availability, although remaining well-above historical averages in both markets.
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What is the latllest on ONGC's KG-DWN-98/2 wells?
8Around 2 msmcmd of production is envisaged soon
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The launch of green bonds by India is part of a global trend
8Sustainable bonds will hit a figure of a massive $1.3 trillion in 2022
8Carbon transition risk is rising in importance for the most impacted sectors as changing economics, shifting policies and heightened investor attention accelerate transition plans for many companies.
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8Find out what the spot price is for Bangladesh for mid-February LNG delivery
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The Iranians are peeved with India in more ways than one
8They feel abandoned by India for abiding by US sanctions when it stopped buying crude
8Now they claim that ONGC has debarred their contractor from qualifying in a big tender on what they call "flimsy grounds"
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The budget speech had some relevant segments for the oil & gas sector, and there is some good and some not so good news. Project imports will be more difficult as the Atmanirbahar bug bites deeper while green bonds can help clear the air for clean energy projects such as those involving green hydrogen  (if they are meant for such projects).
8Four pilot projects for coal gasification and conversion of coal into chemicals required for the industry will be set-up to evolve technical and financial viability
8As a part of the government’s overall market borrowings in 2022-23, sovereign Green Bonds will be issued for mobilizing resources for green infrastructure. The proceeds will be deployed in public sector projects which help in reducing the carbon intensity of the economy.
8For financing the infrastructure needs, the stepping-up of public investment will need to be complemented by private capital at a significant scale. Measures will be taken to enhance financial viability of projects including PPP, with technical and knowledge assistance from multi-lateral agencies. Enhancing financial viability shall also be obtained by adopting global best practices, innovative ways of financing, and balanced risk allocation.
8National Capital Goods Policy, 2016 aims at doubling the production of capital goods by 2025. This would create employment opportunities and result in increased economic activity. However, several duty exemptions, even extending to over three decades in some cases, have been granted to capital goods for various sectors like power, fertilizer, textiles, leather, footwear, food processing and fertilizers. These exemptions have hindered the growth of the domestic capital goods sector.
8Similarly, project import duty concessions have also deprived the local producers of a level playing field in areas like coal mining projects, power generation, transmission or distribution projects, railway and metro projects.
8Our experience suggests that reasonable tariffs are conducive to the growth of domestic industry and ‘Make in India’ without significantly impacting the cost of essential imports. Accordingly, it is proposed to phase out the concessional rates in capital goods and project imports gradually and apply a moderate tariff of 7.5 per cent. Certain exemptions for advanced machineries that are not manufactured within the country shall continue. A few exemptions are being introduced on inputs, like specialised castings, ball screw and linear motion guide, to encourage domestic manufacturing of capital goods.
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8A deal was struck for supply of 739200 MMBTU of gas
Find out between whom and at what price Details

The government seems to be moving towards setting up an independent Gas Transport System Operator
8This was a long felt need of the gas industry.
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For reference purposes the website carries here the following tenders:
8Vapour Recovery System at Sangrur and Guwahati IRD Details
8Lube Warehouse Services and Secondary Transportation at Bhatinda Details
8Project Management Consultancy services for grain based ethanol plant along with associated facilities Details
8Construction of Mercaptan Storage Sheds Details
8Procurement of pipeline locators for VSPL Details
8Procurement of cutting tools, inserts and tool holders for mechanical workshop Details
8Procurement of industrial plastic crates and storage bins for stores Details
8Painting of utility buildings and boundary walls Details
8Project Management Consultant work for the Construction of Office Building Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Biden is sending more than $1 billion to states to plug abandoned oil and gas wells Details
8Market gains over 1% on Economic Survey takeaways, next stop Budget Details
8Budget 2022: Oil and gas industry seeks tax incentives to boost investment Details
8TotalEnergies aims to restart $20 billion Mozambique LNG project in 2022 Details
8Biden names Qatar major non-NATO ally as energy crisis looms Details
8Indian refiner HPCL eyes net zero carbon emissions by 2040 Details
8OPEC struggles to pump at target even as oil reaches seven-year high Details
8GAIL starts India's maiden project of blending hydrogen into natural gas system Details
8Oil and Gas shares rise Details
8Asia residual fuels: Key market indicators for Jan. 31-Feb. 4 Details
8China's first batch of oil product export quotas for 2022 plunge 56% on year Details
8INTERVIEW: 'Prolific scope' for Asian E&P revival as dark clouds fade: Essar E&P CEO Details
8Global LNG trade growth expected to slow to 4% in 2022: IEA Details
8Bangladesh resumes spot LNG imports after hiatus Details
8HPCL expands footprint in Non-Fuel retailing, opens two new convenience stores Details
8Indian Oil Q3 net profit jumps 19 pc on higher refining margin Details
8Nifty Oil & Gas stocks in fast lane; BPCL, IOC, HPCL upbeat ahead of results; Reliance surges 3% Details
8Indian Oil Corp. share price up 2.46 per cent Details
8Hyderabad infra giant Megha Engineering to set up oil rig manufacturing plant in Telangana Details
8RIL projects to save $300 million interest costs in FY23 Details
8Oil rises, hovers near 7-year highs on supply fears, political risks Details
8Adani Total Gas Ltd to invest Rs 20,000 cr in city gas Details
8Union Budget 2022: Unblended fuel to attract Rs. 2 per litre excise duty Details
You can also click on Newsclips for more   Details