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Apr 2020

As waves of cargo cancellations and rock bottom LNG prices emerge as the main headlines, signals are emerging of a possibly hardening of gas prices going ahead.
8The hardening can come very quickly, and sooner than later.
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Industrial users of gas eye the possibility of securing cheap RLNG now that gas prices have fallen precipitously
8Find out how they are trying to bypass the statutory structures to do so
8But will they succeed? Details
At long last, SOPs have been designed for getting seafarers to get off and into a ship
8This will allow for critical crew change needed
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8What is the October estimate of LNG spot prices?
8Will there will be an uptick?
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8COVID-19 did not hit Indian oil production in March, 2020 that badly as the lockdown came late in the month
8Gas output has been hit but how much of it is on account of the lockdown is a moot point
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8Global templates are also evolving for movement of workforce and office personnel
8Examples have been collated globally on such movement in a post-COVID world
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Great Eastern Shipping could well be on the crest of a historic year
8Some 160m barrels on 110 tankers is tracked storing crude
8And more carriers will be needed going ahead
8The situation has turned dramatically around for the Indian shipping major, as well as others with tankers fleets
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A template of how economic activity will be adverse impacted by COVID-19 is slowly emerging
8Whatever happened in China is now happening in the rest of the world with a lag effect
8Know more about what really happened in China in economic terms, and how India will fare going ahead
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8OIL India has awarded a big aerial survey contract
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For reference purposes the website carries here the following tenders:
8Supply of Helium balance Oxygen Gas Cylinder at refinery Details
8Providing Security and Allied Services at LPG Bottling Plant Details
8Conversion of existing HOV to MOV of Haldia Barauni Section of PHBPL to Product Service Details
8Procurement of Triethylaluminium for HDPE and Swing Plant Details
8Supply of Swing Check valves Details
8Spares for Gas Compressors - Nouvo-Pignone L.P. Booster Compressor Details
8Spares for Gas Compressors - Atlas Copco Details
8Hiring of services for transportation including loading, offloading and stacking of various chemicals, acids, cement, etc. to various locations Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Dharmendra Pradhan interacts with 1,000 LPG distributors through video conferencing Details
8ONGC asks govt to waive cess, royalty as plummeting oil prices not enough to cover operating cost Details
8Oil price crash to hurt Indian oil companies profitability Details
8Oil price collapse to dry up sovereign fund flows, says Manishi Raychaudhuri Details
8Indane distributors, deliverymen appreciated by Union minister Dharmendra Pradhan Details
8Assam hikes fuel prices to make up for some of the lockdown losses Details
8Lack of space at India's SPR an opportunity lost: Platts Details
8Oil prices recover ground after market turmoil fuels price plunge Details
8No vacancy: Main US oil storage in Cushing is all booked Details
8Australia says first in line to buy crude to store in US strategic reserve Details
8A decade after Deepwater, BP faces new existential challenges Details
8Oil in negative zone: MCX buyers face Rs 410 crore fund dues Details
8When oil goes below $0 Details
8Crude in favourable zone for another excise hike on fuel Details
8Most oil producers will have serious problems, but Russia not that much: Jim Rogers, Chairman, Beeland Interests Details
8Why Brent oil won't follow U.S. WTI futures below zero Details
8Two Indian refiners cut Mideast crude purchases in May: sources Details
8Indonesia asks importers to buy domestic diesel as coronavirus hits demand Details
8Crude oil futures fall on weak global cues Details
8Global Markets: Brent slumps to 1999 lows, stocks clamber higher Details
8COVID-19: SECI to take pre-bid queries online for 15-MW floating solar plant at SCCL Details
8Aker BP postpones oil developments amid market turmoil Details
8UK inflation slows on oil price crash, coronavirus Details
8Brent oil plunges to two-decade low Details
8Shell delays decisions on deepwater projects amid oil price rout Details
8Bankruptcy looms over US energy industry, from oil fields to pipelines Details
8Oil rises for second day as producers trim output to respond to demand loss Details
8Mexico will receive $6 billion from oil hedge: president Details
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Lockdown is going creating a lot of problems for oil & gas contractors with contracts in hand
8But seismic survey companies are hit the most
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One E&P company is recruiting even as oil prices are in a meltdown
8The pay is good, but will the company still go ahead with these recruitments
 Click on Details for more Details
ONGC gets new managers in place
8Even in the midst of the lockdown, key personnel changes took place in the E&P giant
8Among those placed is the man most likely to become the next boss of ONGC
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ONGC has perfected a system for online tendering in the midst of the lockdown
8The process went so smoothly that both company executives and bidders were left wondering whether this procedure should be the norm instead of the exception
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There was a huge response to ONGC's 10-vessel tender in the midst of the lockdown
8There were as many as 14 bidders offering 47 vessels
8As E&P companies slash capex, the ONGC tender is seen as one bright spot, enticing vessel owners to make a dash for it
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Which is that international consultancy that has the most experience in dealing with Indian arbitration disputes between owners and contractors?
8Over the years, it has developed deep contracts in India and a great track record.
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Our yesterday's survey of Indian ports have yielded the following observations:
8In Cochin, three crude tankers are waiting at outer anchorage to discharge cargo
8MRPL refinery is functioning in phases
8Chemical carriers in JNPT are facing serious ullage problems
8In Mumbai, one vessel reportedly stopped discharge midway as for want of barges. Details
India has discharged 12 LNG cargoes in the past two weeks, compared with 16 cargoes for the two previous weeks. So the lock down is causing an increased slowdown as LNG storage tanks fill up
8Three LNGCs -- ‘LNG Abuja 2’, ‘Mubaraz’ and ‘Malanje’ -- were identified as idling along the coast.
8Another vessel, ‘Rioja Knutsen’, had been slow steaming while heading for the Dahej LNG terminal from Sabine Pass LNG terminal.
8By how much has LNG demand collapsed in India since the virus attack?
8Also, know more on why DES West India LNG price is far lower than even Asian spot price indices
8Know more on why delaying term cargoes makes sense for now
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The lockdown is causing some berthing delays at Indian ports
Some ports are quickly limping back to normal, recording nil delays as well
Get berthing delay updates in
8Kandla
8Mundra
8Sikka
8Dahej
8Hazira
8Mumbai
8JNPT
8New Mangalore
8Ennore
8Kattupalli
8Vizag
8Kakinada
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One of India's largest industrial hub, with a high demand for LNG, is not particularly looking forward to the opening up of the lockdown
8Gas demand is unlikely to pick up when the lockdown is lifted
8This case study shows demand for gas may not automatically get a leg-up once restrictions are lifted
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A smallish oil & gas multinational has handed over the strings of the company to an India-bred exeuctives
8He is taking over at a time when the company has slashed a third of its workforce and is desperately looking at selling some of its assets
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For reference purposes the website carries here the following tenders:
8Detailed design based on technical specification, Fabrication, Supply, Factory Acceptance Test, Erection, Installation, Commissioning and Training of Heavy End Hydroprocessing Pilot Plant Details
8Calibration of master mass flow meters installed in product pipelines Details
8Rate contract for Hydrojet cleaning of Adsorber Preheaters of SWING plant by Automated hydrojetting Machine Details
8Procurement of Rubber Expansion Joint for Suction Line Details
8Capacity Test & Boost Charging of battery bank installed at SV/ IP stations & Terminals Details
8Supply, Transportation and Installation of Smart Pylons Details
8Impact Assessment on CSR projects Details
8Comprehensive Maintenance Contract for HI-REL make UPS at Pipeline Locations Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Despite a global crude oil shock, Indian retail prices of petrol & diesel unchanged for 36th day straight Details
8Indian shares rattled by oil plunge as coronavirus takes toll Details
8Bidders for ADNOC gas pipelines in talks for $8 billion loan Details
8Why will India remain largely unaffected by the unreal oil price fall? Details
8Tullow Oil appoints Rahul Dhir as CEO Details
8Daimler India ties up with HPCL to serve stranded drivers Details
8IOC, BPCL resume work on select projects, gear up to ramp up operations post-lockdown Details
8Aim to reduce costs by 25 per cent, no worry about debt repayments: Anil Agarwal, Founder & Executive Chairman, Vedanta Details
8No vacancy: Main US oil storage in Cushing is all booked Details
8US oil futures slump to historic lows below zero, Brent plunges Details
8Explained: Why did oil prices crash in the US and what does it mean for Indian consumers? Details
8Too much oil: How a barrel came to be worth less than nothing Details
8Analyst view: Oil price crash, what next? Details
8OPINION: Coronavirus havoc is drowning out China's failure to buy US crude, LNG, coal: Russell Details
8Spain's Enagas says coronavirus will not jeopardize 2020 profits Details
8China to grant additional oil import quotas for private refiners Details
8Oil price plunge below zero sends 'oil tourists' on wild ride Details
8Kremlin says OPEC+ 'contacts' can be set up if needed amid oil collapse Details
8Crude Oil Prices: Why is WTI oil barrel cheaper than coke? Details
8Innovation: Approach developed by physicists to increase performance of solar energy Details
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IOC has claimed that it has resumed pipeline work
Work has reportedly restarted in:
8The Paradip-Hyderabad products pipeline, which traverses 1,212-km through Odisha, Andhra Pradesh and Telangana
8The Rs. 3,028 crore augmentation of Paradip-Haldia-Durgapur LPG pipeline and its extension to Patna and Muzaffarpur, which traverses 678-km through Odisha, Jharkhand, West Bengal and Bihar
8The Rs. 6,025 crore Ennore-Tiruvallur-Bangalore-Pondicherry-Nagapattinam-Madurai-Tuticorin R-LNG pipeline, which traverses 1,170-km through Tamil Nadu, Andhra Pradesh, Puducherry and Karnataka.
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Find out why spot LNG prices will not recover in the immediate future
8Also, Indian bargain hunters, which made an appearance when prices went low before the virus attack but then disappeared, are appearing in the market again
8Also some institutional LNG tenders are being floated out of India
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The tanker market is getting divided up, into bullish crude and depressed tanker segments
8It is two-speed model for now
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There is a clear need for measures to help Indian industry, including small businesses by the Indian government.
8India however has its own constraints, with central and state deficits likely to total up to 10% of the GDP, leaving little room for maneuver in the fiscal space
8But there are relief templates now available with policy planners, on what every individual country is doing for its industries
8Here is a global template that policy makers are pouring into
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8There are reports of loading of export cargoes for products such as gasoil, gasoline and jet fuel is going on, albeit at a reduced scale, in Sikka and Vadinar to destinations in Europe, Africa and Singapore.
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State run refiners -- IOCL, HPCL, BPCL, MRPL -- have all invoked ‘Force Majeure’ fagainst their suppliers
8They have reduced their refinery run rates.
8Presently, except for filling ‘Strategic Reserves’, they are not making any large purchase commitments due to the continuing weak demand for petrol, gasoline and ATF.
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Chennai Petroleum Corporation Ltd is under shut down
8Find out when is it likely to restart
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Some ports are experiencing a higher shortage of manpower than others
8Chennai is a problem area to some extent
8So is Karaikal and Ennore
8In Haldia, priorities are for cargoes like LPG, chemicals  and edible oil arriving for discharge.
8In Paradip, vessels are being called upon to berth after confirmation given by shippers of receivers
8In Tuticorin, shortage of dock workers and lack of sufficient trucks continue to affect cargo operations.  
8In JNPT and Nava Sheva, mooring and umooring of vessels are taking place, but there are some delays
8Mundra is working normally but in Kandla cargo movements from the storage terminals were disrupted earlier - due to non-availability of tanker trucks, for evacuation but services are now being restored.
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We have been been able garner some all-India data on the status of port services under lockdown.
8Liquid storage facilities are at "very critical" levels in almost all ports.
8Slow evacuation is the problem even as vessels continue to arrive
8There have been government circulars but state governments are slow in follow up, and garnering labour seems to be the biggest problem for Indian ports.
8Receivers are now splitting their cargo arrivals to multiple ports in the west coast
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This multinational oil & gas service provider made a loss even before the COVID-19 pandemic began
8From here on, the road seems all downhill
8It is cutting costs by $1 billion but that may not be enough
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Something bizarre happened in oil market on Monday: Prices fell so much that some traders paid buyers to take oil off their hands
8The price of the main US oil benchmark fell more than $50/bbl to end the day at about $30 below zero, the first time oil prices ever turned negative
8Such an eye-popping slide is the result of a quirk in the oil market but it underscores the industry's disarry as the coronavirus pandemic decimates the world economy
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Here is an update on an midstream contractor working in Rajasthan, Andhra Pradesh, Maharashtra, Assam, Tamil Nadu and Gujarat
8They begun restarting work in some these locations
Find out what kind of problems they are facing as of now Details
There has been a lot of speculation over China
8Has it been able to manage a V shaped recovery?
8Will it be able to pull global oil & gas prices up?
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For reference purposes the website carries here the following tenders:
8Procurement of Lubricants for Extruder Main Gear Box Details
8ARC for civil jobs Details
8Procurement of CS Pipes Details
8Supply and Supervision of Erection and Commissioning of LPG and Propane Compressors Details
8Procurement of 450 SCMH Electric Motor Driven CNG Booster Compressor Package and related services for BGRL/ BPCL CGD Projects Details
8Supply of Brown Soap Drums to various LPG plants Details
8Selection of Managed Service Partner for provisioning of Cloud Services for Digital Initiatives Details
8ARC for Tank pad repair work using cold bitumins mix Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Gujarat: Nayara Energy’s public hearing deferred Details
8Dharmendra Pradhan holds meeting of National Biofuel Coordination Committee Details
8Oil PSUs to re-start over Rs 42,000 cr of projects as lockdown restrictions ease Details
8Pune: Regulated fuel at pumps till May 30 in Pune Details
8Gujarat: VAT payment deadline for petroleum dealers extended Details
8Oil price plunges to 22-year low on concerns over storage, weakening economies Details
8US crude falls below $15 a barrel as virus throttles demand Details
8Abu Dhabi borrows $7 billion as low oil price bite Details
8Brazil state bank to finalize aid for auto, airline, energy industries in May Details
8China's CNPC starts to build 5.6 bcm natgas storage in Xinjiang Details
8OPINION: China doubled crude oil storage inflows during coronavirus demand hit: Russell Details
8Refiners seek prompt oil cargoes as price uncertainty deters advanced orders Details
8Covid recovery, Opec supply management will dictate oil prices in 2020: Vandana Hari Details
8Japanese-backed Australian LNG import project wins fresh state approval Details
8Fuel prices remain unchanged for 35 days in unprecedented freeze Details
8Covid-19: Oil & Gas M&A deal activity collapses amid oil price crash Details
8OPINION: China doubled crude oil storage inflows during coronavirus demand hit, says Russell Details
8LNG tanker Maran Gas Vergina to discharge first US cargo in China in 13 months Details
8Record gap opens in US oil futures contracts Details
8Oil crashes, ends negative for the first time in history Details
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Keeping ONGC's offshore installations virus free is turning out to be a logistical nightmare
8And the problem is not just issues connected with quarantine and sanitization
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Three large units with a demand for 2.40 mmscmd of gas each are under rapid construction
8They have their set timelines to come up
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MRPL has declared Force Majeure for all their contracts with suppliers, buyers, customers, dealers, contractors, effective 01st April.
8At present their Phase-III units have been shut and more units are shutting down
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8The Adani-Welspun Exploration was preparing the award of a rig contract but that has been put on hold
8Find out more on what kind of cost economics will get this project going again Details
Mundra LNG terminal seems to be doing very well since it went commercial, even during the lockdown
8It is doing better than the Ennore and Kochi terminals
8There is one constraint though that seems to be coming in the way
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The situation in the Gulf is deteriorating rapidly as crude prices plunge and COVID-19 spreads.
8Under these  circumstances, it does not look like these countries will be able to or be keen to make outward investments, either in RIL or in the takeover of BPCL or in the 60 MMTPA refinery promoted by OMCs
8But there is also a human angle: Indian expatriates living in densely populated camps are particularly vulnerable. In case the pandemic worsens, panic-stricken, wage-deprived Indians may prefer to come back.
8Apart from creating a logistical nightmare of transporting millions of expatriates back, they would need to be resettled and reemployed.
Click on Reports for a full analysis of the sitution in the Gulf Details
One of the world's largest oil & gas service providers has sounded out a dire warning on the outlook ahead
8The quarter ending March has been bad enough but the situation is going to get much worse
8FID sanctions are expected to fall back to trough levels of 2015, which would indicate project delays to 2021 and beyond.
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In the midst of all this mayhem, the long term picture continues to stay bright
8Peak oil will not happen in 2025, it will take another 10 years
8The refining sector will have its challenges but investments will take place
8New crude-to-chemicals technology and configurations are being researched with one such plant online in Singapore. These plants promise even petrochemicals yields of 50% to 75% in a world-scale refining size (400+ kb/d).
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The Indian E&P operator is looking at a minimum gas price of $40/bbl or more before he can take positive investment decisions. Cairn India has made it clear that their exploration work will not be carried out below the $40/bbl mark while production can be at a lower threshold.
8In this context, there is still a possibility that E&P activity can continue, if E&P costs can be significantly trimmed, to less than $30/bbl.
8The website carries here an analysis of E&P costs, and where the government and the companies themselves can help tinker them to a point where investment interest continues to stay generated, until such time that oil prices recover.
8Also, the outlook is not as grim as was predicted earlier
 Click on Details for more Details
Crude prices have not responded to the massive cut in output by OPEC+
8But differences are emerging already on how the outlook is going to be.
8The point to note is that key analysts are already talking of a quick recovery in prices.
8E&P operators in India and service and equipment suppliers need to keep a close watch.
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For reference purposes the website carries here the following tenders:
8Supply of Injection Moulded 40 mm ID HDPE Caps to Lube Oil Blending Plants Details
8Supply of Suction Type Dispensing Units to Consumer Pumps Details
8Supply of Steam Traps as per specification Details
8Supply and Installation of Transformers Details
8Hiring the services of Electrical Submersible Pumps Details
8Procurement of Spring Supports for REGEN-TSS System Details
8Supply, Installation & Commissioning of Compactor Storage System Details
8Expression of Interest for Solution Provider for Energy Trading & Risk Management (ETRM) Software Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8PNGRB plans to extend deadlines for city gas projects hit by lockdown Details
8Over 1.5 crore free LPG cylinders given to poor: Dharmendra Pradhan Details
8'No mask, no oil' at petrol pumps across West Bengal Details
8Fuel sales slump 50 per cent in April; petrol down 64 per cent, diesel 61 per cent, ATF 94 per cent Details
8India dips in to weakened crude market to fill up its strategic oil reserves Details
8India records lowest crude oil production in at least 18 years Details
8GAIL says in readiness to start project execution post lockdown Details
8BPCL Kochi Refinery takes steps to maintain petroleum products supply Details
8Gujarat: Nayara Energy’s public hearing deferred Details
8OPEC cuts oil demand view again as market faces 'historic shock' Details
8Non OPEC+ crude oil supply cuts Details
8Saudi Aramco to supply full May crude volumes to Asian refiners: sources Details
8Rouble firms on higher oil, central bank governor to detail coronavirus measures Details
8Oil falls as Chinese economy outweighs Trump plan to ease lockdown Details
8Saudi Aramco's oil allocations to Asia down by about 2 million bpd in May Details
8China's March aviation fuel sales jump 45 per cent from Feb as some flights resume Details
8US trade body awards grant to accelerate India's use of natural gas, improve energy access Details
8Crude oil held in sea storage hits new record at 160 mln bbls: sources Details
8Crude price worsens on Covid-19 concerns, poor Chinese ecodata Details
8Saudi Arabia, Russia hint at further action to stem oil rout Details
8Canada earmarks energy aid funds to reduce emissions Details
8Ten years after huge US oil spill, fears of offshore drilling persist Details
8China's CNPC starts to build 5.6 bcm natgas storage in Xinjiang Details
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The NRL refinery expansion PMC and EPCM bids saw one clear winner, it is learned
8But then the bidder cannot get both jobs
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Offshore service providers, such as Offshore Supply Vessels and rigs, are more paranoid than ever over about how the virus is manifesting its colours
8Find out why their own containment measures are turning out to be insufficient
8More than ONGC, it looks like another agency may well take control.
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The present crisis has for the first time exposed the flaws of oil-indexed gas pricing
8Finding equivalence between oil and gas when the two commodities barely intersect at the point of consumption has always been a troubling issue
8What kind of indexation best suits the industry then, going ahead
Click on Reports for more  Details
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