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Apr 2020

GAIL is reported to be refusing to accept Force Majeure caveats invoked by domestic buyers of Henry Hub linked gas supplies
8The price differential between HH-linked and spot price has become so wide, that there is wholesale flouting of GSAs by buyers
8Find out what kind of calculations domestic buyers are making while refusing to take GAIL supplies.
8When contacted, the GAIL public relations department did not revert back
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Find out more on what GAIL's negotiations with its US LNG suppliers are going when it comes to invocation of the Force Majeure clause
8What is it that will eventually save GAIL from going under from the accumulated weight of adhering to its commitment to offtake gas from US terminals?
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For reference purposes the website carries here the following tenders:
8Finalisation of Security Agency for Patrolling & Surveillance Details
8Supply of CNG Storage Cascades Details
8Revamp of Fire Alarm Systems Details
8Providing Cab and Taxi Hiring Services Details
8Hiring of Annual Maintenance Contract for Housekeeping and Up-keeping at Townships Details
8Procurement of Blow Out Preventor Details
8Procurement and Installation & Commissioning of Steam Cleaner Details
8Procurement of Liquid Nitrogen under rate contract for two years Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Sale of fuel dropped 10 per cent more than normal due to COVID-19:CIPD Details
8HOEC finds oil in Mumbai offshore, raises production target by 60 per cent Details
8Oil prices rise on early signs of slowing US glut build Details
8Nagaland impose Covid-19 cess on petrol and diesel sales Details
8Venezuelan opposition lawmaker introduces new oil law to open industry Details
8Oil prices surge over 10 per cent amid early signs of US fuel demand recovery Details
8Belarus buys first oil from Saudi Arabia: refiner Belneftekhim Details
8Malaysia's Sapura sees delay in energy projects as pandemic hits demand Details
8With rock-bottom prices, will the oil industry recover? Details
8OMV books first quarter loss, lowers 2020 production target due to tumbling markets Details
8Gazprom says 2019 net profit down to 1.2 trln roubles Details
8Pandemic could fuel demand for 'diaspora bonds', says World Bank Details
8China's bank BoCom says negative oil prices did not impact customers: local media Details
8PetroChina posts $2.3 bln net loss as demand collapses Details
8Crude oil futures rise on positive overseas cues Details
8China's CNOOC cuts capital spending, output targets Details
8China's Sinopec records first quarterly loss since at least Q4 2015 Details
8Crude oil prices rise as US inventories build smaller than feared Details
8Spain's Naturgy seeks to renegotiate gas contracts as earnings drop Details
8US Oil Fund sitting on $726 mln in unrealized losses before April Details
8BP donates jet fuel in US to help with COVID-19 relief Details
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How many LNG ships are now floating with cargoes without destination as of now?
8And what kind of LNG prices are hovering around India?
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A private sector operator has found himself producing oil and gas in the midst of the lockdown
8A desperate attempt is now on the beat down costs in order to stay afloat.
8Vendors are expected to face the music
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March saw a steep fall in domestic gas production despite the fact that the lockdown came into effect only for 10 days of the month
8The slack was picked up by LNG imports
8In March last year, LNG imports more or less equaled domestic output but the picture has turned dramatically one sided now
8The one bright picture in otherwise gloomy picture is the performance of one demand segment
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Now that first gas timelines for the R-Series field has been put off, will the deadlines be reset for the Satellite Cluster and the MJ-1 discovery fields as well?
8RIL had provided capital approval for these projects and all contracts have been awarded
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BP may end up being more cautious than RIL with investing further in the KG-Basin for now
8The multinational has put every lower margin projects under intense scrutiny, it is learned
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It does not look like RIL-BP is going to begin supplying 5 mmscmd of gas from the KG-D-6 project, which was expected to begin from May 15, anytime soon.
8No fresh timelines have been set.
8But when is first gas likely now from the KG-D-6 project?
8If the supplier relinquishes its duty to provide gas to a long list of buyers, what are the implications?
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The lockdown seems to be impacting work in different ways in different segments of the oil & gas industry
8Our studies show that EPC work in the downstream sector is impacted in a different manner than that of an E&P service provider.
8One is far more severely hit than the other. For one segment, it is almost business as usual while for the other is staring at huge losses.
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8A new chairman has been selected for IOC
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HPCL seems to be stuck with the inability to find a solution to how to award its sulphur recovery unit for the Barmer refinery project
8Can this be a ground for disagreement with the PMC?
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Spot LNG prices aimed at India has reached a never before low
8Find out by how much is LNG import down for the month as on April 28, in relation to the same period last year
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The two Numaligarh Refinery consultancy contracts have seen ThyssenKrupp emerge as the lowest bidder
8What kind of prices did the the L-1 bidders and others submitted?
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How do businesses restart in a post-COVID world?
8Many business leaders that the website spoke to did not have an effective plan in place
8Templates on how to go back to work has now been put in place by global companies, providing step-by-step guidance on measures to be taken at workplaces.
8For example, central airconditioning may not be appropriate is one such guidance, installing hepa filters is another
8Sample best practices have been put in place, both for manufacturing and office environments
8Workforces will have to be categorized into those that can work from home and those that require presence in an office or manufacturing facility
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How do you manage impairments and taxes in a post-COVID world?
8What would be the tax impact on letting employees go?
8Has succession planning been done?
8How do you take into account failure of contracts?
8How do you carry forward and set-off of tax losses?
8Since values are at all time lows, can your dry powder be used for M&A?
8How do you deal with non-fulfillment of export obligations?
Click on Reports to get answers to these and many other post-COVID-19  related questions. Details
For reference purposes the website carries here the following tenders:
8ARC for supply of fire extinguisher spares of different types and capacity for use in plant area Details
8Rate contract for hiring of high speed boat for SPM security for two years Details
8Drive way work at Hassan Terminal Details
8Supply of DC UPS Systems Details
8Supply of Pre-Fabricated SS Tanks for ROs under SCZ Details
8Supply, Transportation and Installation of Smart Pylons Details
8Manufacturing and supply of 20 l and 26 l capacity coextruded, extrusion blow moulded HDPE containers Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8India's Reliance Industries to consider first rights issue in three decades Details
8Top India energy analyst says demand issue messes up forecasts Details
8In a first, India to launch natural gas trading on electronic platform next month Details
8Govt clears Shrikant Madhav Vaidya as next IOC chairman Details
8Venezuela's PDVSA proposes oil industry reform to boost private partners' role Details
8Nagaland levies COVID-19 cess of Rs 5 per litre for diesel and Rs 6 for petrol and motor spirit Details
8U.S. court ruling could threaten pipeline projects with delays Details
8U.S. Oil Fund to exit June futures, buys contracts expiring late 2020, 2021 Details
8BP's profit tumbles, debt climbs as coronavirus crisis hammers oil demand Details
8Russia's Novak says storage weighing on oil prices but output pact will help Details
8Russia to cut May oil output by 19% from Feb-March -Interfax, citing Lukoil Details
8Russian rouble shrugs off lower oil as c.bank keeps on selling FX Details
8Tokyo Gas annual profit halves as coronavirus impact spreads Details
8Crude oil futures slump on weak global cues Details
8Russia's Gazprom sells June ESPO crude at narrower discount amid reduced supply: sources Details
8Oil prices plunge again, WTI down 20 per cent on supply glut Details
8Crude oil prices fall on brimming storage, bleak recovery prospects Details
8Gulf Oil resumes partial operations at Silvassa plant Details
8MidEast, Russian crude rebound as supply tightens, China demand robust Details
8OPEC oil supply surges in April ahead of new cut: Petro-Logistics Details
8European stocks inch higher as positive earnings counter oil, Wirecard slump Details
8China set to issue first-ever export quotas for VLSFO of 10 mln T for 2020: sources Details
8China's renewed plastics appetite, cheap oil revive petrochemical, margins Details
8Neptune Energy sees delay to start-up of Fenja oilfield Details
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The lockdown began on March 21, the general impression could be that LNG demand in India would go down in the month
8But did it?
8Also, what kind of LNG prices were elicited in March?
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Negative crude pricing may become a reality for June contracts
8And it will not just be the WTI
8The contagion can spread to the Brent as well
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8Even as gas demand falls, there is one demand segment that seems to be keeping hopes alive, seeking more gas than before.
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8Some government agencies seem to have worked out a unique way to retain labour or stop them from fleeing back
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Lockdown has severely impacted the oil & gas maintenance industry in India
8Find out how
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Vintage VLCCs are seeing an unprecedented upsurge in values.
8The market for purchase of these ships have become suddenly active, providing a once-in-a-life time opportunity to ship owners
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Oil prices have begun falling again
8How low can they go?
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8A key oil company head office has had a virus attack
Find out more Details
For reference purposes the website carries here the following tenders:
8Civil works at Development drill site NGDB & NGDC in GLK area Details
8Civil works at drill site CHAS cluster with well no CH#24 in RDS area Details
8Supply of Pump-Centrifugal Horizontal Multi-stage (SPP)-2 Details
8Procurement of Emergency Lighting Distribution Panel and MCC Panel at refinery Details
8Transportation of finished Lubricants in SS Steel TTs of 18 Kl capacity Ex Silvasa Details
8Supply of Pipe Fittings at refinery Details
8Procurement of Spares of Vertiv make UPS at refinery Details
8Supply of Positive Displacement Rotary Pumps Details
8Design, Supply, installation, testing, commissioning of SCADA, RTUs and Leak Detection System (LDS) along with integration of SCADA System with PLC based control system Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8Oil & gas Q4 earnings preview: OMCs set to log losses on inventory hit; RIL may take 10 per cent knock Details
8'No mask, no fuel' rule implemented in Arunchal capital Details
8BS-VI norms in but India needs auto-LPG to curb vehicular emissions: Autogas suppliers' body Details
8DGH streamlines approval process for Pre-NELP and NELP blocks Details
8ANALYSIS: Resilience of independent oil firms faces hedging, debt tests Details
8Cairn supporting India's energy security along with stringent measures to combat COVID-19 Details
8Petrobras reverses production cuts as fuel demand beats expectations Details
8Numaligarh Refinery Limited has resumed work on project worth Rs 2043 crore Details
8Rouble steady after rate cut, another drop in oil prices Details
8US oil slips below $15 a barrel on storage worries Details
8S-Oil expects refining margins to bottom out in Q2 on re-opening of businesses Details
8Mideast economies take massive hit with oil price crash Details
8Venezuela receives gasoline imports from shipping magnate amid fuel shortage Details
8OPINION: Asian LNG prices take bigger coronavirus hit than Brent crude, says Russell Details
8Japan's MUFG expects deep recession across GCC countries Details
8Fuel prices remain unchanged for 42 days in unprecedented freeze Details
8Indonesia caps gas prices for power plants at $6/mmBtu Details
8BP revises $5.6 billion Alaska deal after oil price crash Details
8Crude oil futures plunge on weak global cues Details
8Nigeria oil export plans delayed amid talks with majors on cuts: sources Details
8Russia's Tatneft cuts oil output ahead of OPEC+ amid lack of storage, poor demand Details
8US grants Iraq another month's waiver for Iran gas imports Details
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8ONGC's online vendor payment system has come up with some snags
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New price cutting measures introduced by ONGC have caused severe heartburn among existing bidders with ongoing active tenders.
8Bidders are anticipating huge price distortions as a consequence
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What is the latest update on the Chhara LNG terminal?
8Environmental clearance was delayed, so the commissioning date has been shifted
8Also, what kind of progress has the terminal made?
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In the face of rapidly falling oil prices, E&P operators have begun putting in place specific instructions for getting lower prices for ongoing bids
8While proper tendering norms are being put in place for those willing to offer lower rates, predatory or opportunistic pricing by vendors willing to quote really low is going to be encouraged. Norms are going to be bent for those willing to work at lower prices
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The idea of a salvage plan for the E&P industry is taking some shape, it is learned
8Find out what kind of ideas are being floated
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The entire top brass of ONGC took a course on offshore safety recently and how to conduct change of crew
8Taking lessons from an entity which is running global offshore operations, the brass is now going about putting together the infrastructure needed to get new crew onboard
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Private operator to go ahead with FPSO
8Sees oil price dip as temporary
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Domestic pipeline manufacturers were riding high on the back of Make in India caveats that forced oil companies to buy from local companies
8The steel ministry had recently forced ONGC to allow these manufacturers to enter the high technology offshore pipeline segments as well
8But even so, some of these companies are already facing severe headwinds, with the outlook become negative
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Rules are being lightened up
8While opportunistic pricing is now in for E&P tenders, rules for conducting E&P operations are also being relaxed in the midst of the lockdown
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Given the turmoil in the industry, the first thought is on how to manage layoffs.
8Whether it is the employer or the employee job security is the priority
8There are multiple rules, and both employers and employees must know their rights
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For reference purposes the website carries here the following tenders:
8Supply of Tubing Tong Details
8Supply of Spares for Gas Lift Compressors Details
8Hiring of Tankage and allied terminal facilities for black oil at Ennore/ Chennai Port Details
8Providing Integrated Facility Management Services Details
8SOR contract for Mechanical Maintenance jobs Details
8Supply, Installation, Testing and Commissioning of Check Metering Skids Details
8Design, Engineering, Supply, Installation and Commissioning of Vapour Recovery Unit Details
8Providing assistance service for coke chamber operation in DCU I and DCU II Details
8Services for mechanized cleaning of tanks and sludge processing Details
8Supply of High Pressure Shell and Tube Exchangers Details
8Lining up of Value base rate contract for supply of Gratings Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8G P Petroleums hopeful of starting partial operations at Mumbai facility soon Details
8Indian oil refiners stare at Rs 25,000 cr inventory loss: Crisil Details
8Karnataka: Truckers, traders demand cheaper fuel to make up for lockdown loss Details
8Govt simplifies oil, gas block processes; provides for self-certification, deemed approval Details
8Delhi HC restrains IOCL from invoking bank guarantee furnished by Punj Lloyd Details
8Oil on course for steep slide in week of historic turmoil Details
8Cheaper oil, foreign flows a tailwind for rupee Details
8Global oil supply to fall 6 per cent by 2030 due to delayed projects: data Details
8Bankruptcy looms over U.S. energy industry, from oil fields to pipelines Details
8Coronavirus lockdown pushes Spanish fuel consumption to 21-year low Details
8OPINION: Extreme volatility raises questions over WTI, says Kemp Details
8Refined oil product freight rates nearly double in a week Details
8Venezuelan oil price falls to $9.90, lowest level in 20 years Details
8Russia halves Western sea oil exports in May after OPEC+ deal Details
8Banks rush to rein in financing for oil firms Details
8EXPLAINER-How the U.S. could use taxpayer dollars to save oil and energy companies Details
8When oil became waste: a week of turmoil for crude, and more pain to come Details
8The 20 minutes that broke the US oil market Details
8US equities post weekly losses amid oil chaos, COVID stimulus Details
8Oil prices rise more than $1 after week of turmoil amid viral outbreak Details
8Italy's Eni cuts output, spending targets amid coronavirus hit Details
8Indonesia upstream oil and gas regulator asks for sector exemption on travel ban Details
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Refinery margins are falling
8But marketing margins have shot through the roof
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The website carries here the latest update on what governments are doing to shore up economies in the face of the virus attack
8India's lockdown is the most severe.
8But are its efforts to mitigate the hardship as resolute as compared to the resolve shown to implement the lockdown?
Click on Reports to know more Details
The one segment which is profiting the most out of the current crisis in the oil & gas sector is the crude carrier segment. A VLVV was hired at record $356,798 per day.
8The contagion has now spread to the product carrier segments as well
8Expect even higher prices going ahead
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The lockdown came into effect in India on March 21, but it had already chewed off a large chunk of India's POL consumption. Official data shows a sharp dip in all items of POL consumption but for LPG
8Find out more on what is the latest consumption data (as of last week).
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A counter narrative is building against bailing out oil & gas companies
8On what basis is this argument being developed?
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There is one virus death in ONGC but not in its offshore installations, which have remained infection free so far
8The company is now trying to put together standard operating procedures for crew change that will have to take place sooner than later for over 5000 people working in offshore installations well beyond their statutory period of deployment. 
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As existing long term customers take recourse to force majeure conditions, where are domestic producers parking its surplus gas?
8And at what price is that gas being parked?
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A month ago, India was a big gainer from the oil price slump and the global lockdown
8Is it anymore?
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Cairn India is reported to be pushing vendors "irrationally" in the face of a cataclysmic fall in crude prices
8This is particularly true with its contracts in exploration blocks but production asset vendors are not spared
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Even as public sector oil marketing companies succumb to the lockdown, some going into shut-ins, private sector refineries seem to have more flexibility
8The run rate is surprising high for them
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Force Majeure conditions have been invoked by LNG bulk LNG cargo offtakers from India, particularly for those operating out of Dahej, where capacity utilization is below par and tanks are full
8But different suppliers are responding differently to those Force Majeure notifications
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For reference purposes the website carries here the following tenders:
8AMC of Optical Fibre cCable in kota-chittorgarh region Details
8Hiring of services for conducting HAZOP and QRA for NG Pipelines Details
8Procurement for Apparatus for LPG Testing Details
8Supply of 3 LPE Coated Carbon Steel Pipelines Details
8Procurement of Bio-diesel produced from used Cooking Oil across India Details
8Annual Maintenance Contract of NAGIOS (Enterprise Monitoring Solution) and PFSense (Firewall) Software Details
8250 SCMH Average Flow Electric Motor Driven CNG Booster Hydraulic Compressor Package Details
8Procurement of Primary Calibrated Thermometers and Hydrometers for QC lab Details
8Supply of Furnace Tube Support Details
8Re-distillation of water mix ethanol and converting to anhydrous ethanol at Indore terminal Details
You can also click on Tenders for more
For reference purposes the website carries here the following Newsclips:
8India’s crude oil production falls 6 per cent in FY20 Details
8India’s natural gas production falls 14% in March as demand dries up, 2019-2020 production lowest in 18 years Details
8Meghalaya govt increases taxes on petrol, diesel Details
8Reliance cuts crude processing at Jamnagar SEZ refinery by 24 per cent Details
8Assam government hikes prices of petrol, diesel by Rs 5/litre Details
8Lockdown puts India in similar position that led to US oil WTI crash Details
8RIL-BP unlikely to commence KG Basin production in may Details
8Indian refineries scale back output as virus chokes demand Details
8How India should exploit the crash in crude prices Details
8Pradhan calls upon officials to speed up delivery of free cylinders to PMUY beneficiaries Details
8Delhi HC gives temporary relief to Halliburton in Force Majeure case against Vedanta Details
8Govt readies lifeline for producers as Brent hits 21-year low Details
8Trump administration turns down offshore oil's plea for broad royalty cuts-Cassidy Details
8World Bank slashes outlook for oil, metals as coronavirus crushes demand Details
8No guidance from Saipem due to coronavirus, oil price slump Details
8Kremlin: unaware if reports on insider oil trading on OPEC+ tips credible Details
8With virus curbs lifted, analysts expect Q2 rebound in China fuel demand Details
8Oil rallies as Gulf tensions eclipse virus woes Details
8OMCs to benefit from crude crash Details
8Chevron barred from drilling, transporting oil in Venezuela: U.S. official Details
8Colombia private oil investment to fall by more than $1 billion on low prices Details
8China's March gasoline exports rise as pandemic cuts domestic demand Details
8OPINION: Is the WTI crude fiasco relevant to Asia? Not yet, but risks loom: Russell Details
8Saudi Aramco-RIL deal at risk as oil prices fall Details
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8A 135 km pipeline contract was awarded recently
Click on Details to find out more Details
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