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PetroMag Issue– 196, Friday 20 August 2010

"For every failure, there's an alternative course of action. You just have Content
to find it. When you come to a roadblock, take a detour."

For “Back to top” press Ctrl + Home from any place in the document.” National News 
International News 
National Newsssss Crude News 
RIL-NTPC dispute over D6 heading for truce
International Prices 
National Prices 
ONGC may have to pay $13 b to exercise RFR
Crude oil Prices/Stock 
ONGC, OIL can make a counter-bid
Daily Share Price 
Vedanta to get Rs 500 cr if Cairn buyout fails Retail Selling Prices 
Transfer of Mangla Oilfield in Rajasthan to Vedanta opposed MCX Bhav copy 
Govt gets ambitious on shale gas Industry Sales 
OVL Records Highest Ever Oil & Gas Production from Overseas Pipeline Transfers 
Region‐wise Sales Growth 
Cairn stake sale: ONGC wants royalty issue cleared
Company‐wise Market Share 
The Adventures of BPCL
Sector‐wise HSD Direct Sales 
ADAG gets nod for exploration of CBM in Madhya Pradesh FO/LSHS &  Naphtha 
Indian Petronet, GSPC to add new storage tanks at Dahej LNG Upliftments 
Cairn deal faces fresh questions Crude Oil production 
GPPL bets big on coal cargos: IPO priced at Rs.42-48 Natural Gas Production 
Refinery Production 
Aban Offshore in pact with Cairn India for deploying rig
Import / Export 
Tomorrow India celebrates Rajiv Gandhi Renewable Energy Day
Tankers 
S Radhakrishnan assumes charge of Bharat Petro. Corp's CMD Tenders 
CBI raids HPCL, Dena Bank officials for Rs.65 mn fraud Events 
Contact Us 
 
Exploration s s Our Publication 
 
PY-3 re-development offshore India under review PetroMag – Daily E_zine  
Lebanon to auction offshore gas exploration by 2012 DataMag – Monthly 
Petroleum Bazaar‐ Monthly 
Oil firm upbeat despite Falklands setback
 Magazine 
US senators renew call for full Lockerbie probe  

Petroleum  Encyclopedia  of  Indian 


Petroleum Industry 
 
International Newsssss
All  India  Downstream  Database  of 
retail Outlets 
 
Australia To Be Japan's Top LNG Supplier
Online  Subscription  and  Data  is 
Oil for Petrobras plan seen $10-$12/barrel-report available  though  Databank  &  Data 
Ugandan president to approve all oil, gas deals Treasury section of the portal 
 

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Shell in Nigeria warns on production after pipeline
Petroleum
More oil from Russia to the Asia-Pacific region
Bazaar Venezuela oil deal with Trinidad & Tobago
SRILANKA :Iran and Saudi to provide crude oil

PetroMag Bid to write off Rs 55 billion owed by CEB to CPC


Cnooc's first-half net profit more than doubles
Dana targeted for hostile bid
Petroleum
Bazaar
Crude s s
PetroMag Oil Falls as Surprise Increase in U.S. Jobless Claims
Oil prices close below $US75 a barrel

Petroleum Natural Gas Slips Despite Mild Inventory Build

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International Prices
NYMEX price for Crude, Gasoline and Natural Gas
Energy Prices –Petroleum ($/bbl)
Futures
Crude Name Price Change NYMEX Light Sweet Crude -0.35 $75.42
Nymex Crude 74.47 0.04 ICE Brent -0.46 $76.47
Dated Brent 74.64 0.02 Gasoline NY Harbor 0.0080 $1.9612
WTI Cushing 74.43 -0.99 Heating Oil NY Harbor -0.0010 $2.0249
NYMEX Natural Gas -0.028 $4.239
C&F Japan $ bbl US Stock –06/08/10 (million barrels)
Unleaded Gasoline -- -- Product StockChange Change
vs. week vs. yr.
ICE Futures Crude Stocks 355.0 -3.0 3.0
Brent $/bbl 76.30 -- Gasoline Stocks 223.4 0.4 11.5
Nymex Future Distillate fuel oil 173.1 3.5 10.9
Fuel Oil No.2 /gal 202.00 -- Propane 57.445 2.290 -12.040
Unleaded Gasoline c/gal 195.60 -- US working gas in underground storage (bcf) Data
Nat Gas $/MMBtu 4.24 -- Released August 12, 2010
Base oil India (HPC) Incl. Excise duty Region Stock-Aug 06 Stock-July 30 Change
Alprol N – 12 (SN 70) Rs/liter 58.00 -- East 1536 1493 43
Alprol N – 32 (SN 150) Rs/liter 58.00 -- West 479 476 3
Alprol N – 100 (SN 500)Rs/liter 63.00 -- Producing 970 979 -9
Bright Stock (Rs/liter) 78.00 -- Total lower 2985 2948 37
Base Oil – Europe (F4OB) Base Oil – Iran (FOB)
SN 150 916 SN 150 893
SN 500 932 SN 500 918
BRIGHT STOCK 1063 BRIGHT STOCK 985
RECLAIMED OIL (KUWAIT) 790
Product Prices USD Arab Gulf
HSFO 180 CST ($/mt) 397.25-395.25 HSFO 380 CST ($/mt) 375.25-370.25
Naphtha Prices North – West Propane Butane
Europe
CIF ARA CARGOES 646.25 646.75 FOB Seagoing 560 565
CIF MED CARGOES 641.25 641.75 FOB ARA 607 690
ARAB GULF 600.10 619.60

Week Ending Quotations of OPEC Reference Basket Price


Month Week Ending Basket Ending Basket
Jun’10 26 25/06 $74.38 Monthly Average May10 $74.48
Jul’10 27 02/07 $72.01 Jun10 $72.95
Jul’10 28 09/07 $70.63 Jul10 $72.51
Jul’10 29 16/07 $72.93 Month to date Avg. Aug10 $76.81
Jul’10 30 23/07 $73.43 Quarterly Average 2Q10 $76.53
Jul’10 31 30/07 $74.01 Qr. To date Avg. 3Q10 $73.85
Aug’10 32 06/08 $78.24 Yearly Average 2009 $61.06
Aug’10 33 13/08 $75.38 Yearly to date Avg. 2010 $75.58

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Crude Oil Prices / Stocks

Crude Oil Spot Prices (Dollars per Barrel)

Most Recent Year ago


25/06/10 02/07/10 09/07/10 16/07/10 23/07/10 30/07/10 06/08/10 07/08/09
WTI – Cushing 78.45 72.06 76.08 75.96 78.68 78.85 80.67 70.97
Brent 76.21 71.75 75.20 75.55 77.27 77.50 81.28 74.21

Crude Oil Stocks (Million Barrels)

Most Recent Year Ago


25/06/10 02/07/10 09/07/10 16/07/10 23/07/10 30/07/10 06/08/10 07/08/09
U.S. 363.1 358.2 353.1 353.5 360.8 358.0 355.0 352.0
East Coast (PADDI) 12.9 12.1 12.6 11.7 13.9 11.4 12.5 14.0
Midwest (PADD II) 95.3 94.4 94.6 95.5 97.4 97.7 95.4 86.9
Cushing, Oklahoma 36.0 35.8 36.1 37.1 37.2 37.8 37.7 33.6
Gulf Coast (PADD III) 183.1 182.1 177.3 176.4 184.6 180.8 181.4 182.5
Rocky Mountain (PADDIV) 17.0 16.7 16.1 15.9 15.5 15.6 15.5 16.1
West Coast(PADD V) 54.9 52.9 52.5 53.9 49.4 52.4 50.2 52.6

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Daily Share Prices
Today’s Change Today’s Today’s 52 week 52 week
As on close of 19-08-2010
Closing absolute High Low High Low

Aban Offshore Ltd 835.40 53.40 844.00 780.40 1679.50 637.00


Balmer Lawrie 717.00 11.85 720.00 699.00 754.00 438.05
Bharat Petroleum 675.95 -3.50 685.00 672.50 718.00 488.05
Cairn Ind. 344.95 1.35 347.05 341.10 368.00 230.00
Castrol India Ltd. 487.45 7.00 495.80 481.00 495.80 232.50
Chennai Petroleum 283.65 0.50 284.75 282.00 299.30 178.05
Essar Oil 131.25 0.15 132.15 130.50 174.90 115.05
GAIL India Ltd. 461.05 1.35 464.00 458.50 516.85 320.10
Gujarat Gas 349.00 10.45 359.10 337.65 359.10 177.78
Gujarat Petronet 118.25 3.55 119.40 114.10 119.40 65.00
Gulf Oil Corp. Ltd. 86.65 1.25 88.00 84.95 113.05 48.28
Hindustan Oil Exploration 256.35 8.05 260.45 250.05 398.90 165.00
Hindustan Petroleum 501.65 -4.05 508.50 496.65 510.60 293.25
Indian Oil Corp. Ltd. 388.05 -0.55 391.40 351.00 418.10 272.25
Mangalore Refineries 80.80 0.60 81.50 80.00 93.95 64.25
Oil India 1438.95 6.75 1454.90 1412.00 1557.65 1019.00
Oil and Natural Gas 1267.50 -17.85 1296.90 1263.00 1346.00 997.35
Petronet LNG 112.00 9.85 112.90 101.70 112.90 61.55
Reliance Industries Ltd. 976.80 12.05 986.65 965.00 1184.70 840.55
Tide Water Oil India 9417.25 -16.80 9710.00 9400.00 10399.00 4086.10

MARKET WATCH CURRENCY WATCH


BSE Sensex 18454.94 197.82 Rs – 1 $ 46.64
NIFTY 5540.20 61.05 Rs. –1 Euro 59.88
DJIA 10415.54 9.69 Rs –100 Jap. Yen 54.55
NASDAQ 2215.70 6.26 Rs.1 Pound 72.41
MIDCAP 7830.90 70.90 Bank Rate 6.0%
Repo Rate 5.75% Reverse Repo Rate 4.50%

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RIL-NTPC dispute over D6 heading for truce

PetroMag The legal dispute between Reliance Industries (RIL) and NTPC over D6 gas may be heading for a
truce, with Solicitor General Gopal Subramanium recommending that the country’s biggest power
generator be given gas at a concessional rate under a provision of the production sharing contract
Ministry of Petroleum (PSC).
and Natural Gas,
New Delhi According to the PSC it signed with the government, RIL can sell gas at a price lower than the
market one to the government or its nominee. “The solicitor general is of the view that this
Cabinet Minister provision can be evoked for NTPC, since it is a government company,” said a government official.
Mr. Murli Deora
Under article 21 of the PSC, gas sold to the government or any other government nominee, is to
Minister of State be valued on terms and conditions, including pricing formula and delivery, approved by the
Mr. Jitin Prasad government. This provision has been interpreted to mean that NTPC can claim gas at $2.34 per
million British thermal unit, a price RIL had quoted in its tender way back in 2004.
Secretary
Senior government officials told Business Standard that the empowered group of ministers
Mr. S Sundareshan
(EGoM), headed by Finance Minister Pranab Mukherjee, discussed the issue in its last meeting.
“The power ministry was asked to circulate the legal opinion of the solicitor general to all
Addl. Secretary & Fin. members of the group,” said another official.
Advisor
Mr. P K Sinha During the July 28 meeting of the EGoM, the power ministry had proposed that 12 million
standard cubic metres a day (mscmd) gas be given to NTPC at the discovered international
Jt. Secretary ( R ) competitive bidding price of $2.34, without waiting for the outcome of the pending NTPC-RIL suit
Mr. L.N. Gupta in the Bombay High Court.

Jt. Secretary NTPC has already started work on expansion of its Kawas and Gandhar power projects in Gujarat
(International corp.) to meet the milestones necessary for getting gas allocation. The government allots gas to only
Shri. Sunil Jain those units that are expected to be commissioned during this year. “The EGoM is expected to take
a decision on it in its next meeting,” NTPC Chairman R S Sharma told Business Standard.
Jt. Secretary (Expl.)
Mr. D N Narsimha The last EGoM meeting also discussed the Reliance Power’s request of 28 mscmd of gas, pursuant
Raju to a Supreme Court judgment that said gas allocation to the Anil Ambani group company should
be in conformity to the government policy on price, tenure and allocation.
Jt. Secretary (M)
Though no commitment was made on supplying gas to Reliance Power, more than three weeks
Shri Apurva Chandra
after the last EGoM meeting, the government is yet to finalise the minutes. “Though the issue of
additional allocation to any power project has been kept open ended, any decision would depend
Economic Advisor on the minutes,” said an official.
Dr. Archana S Mathur
ONGC may have to pay $13 b to exercise RFR
Director (Supply &
Production) Oil and Natural Gas Corporation (ONGC) may have to shell out $13 billion if it were to exercise its
Shri Vivek Kumar pre-emption or right of first refusal (RoFR) to buy Cairn India in the giant Rajasthan block. Cairn
India holds 70 per cent operator interest in the 6.5 billion barrels Rajasthan block that is at the
Director (Marketing) centre of its parent, Cairn Energy's $8.48-billion deal to sell its majority stake in the company to
Shri U.C. Nangia Vedanta Resources.

Director At Rs.355 a share, Cairn India is valued at over Rs.67,355 crore or $14.6 billion. Almost 90 per
(Refinery & Admin) cent of this value is because of the Rajasthan block that can produce 2.40 lakh barrels of oil a
Shri Dependra Pathak day. “Cairn India's stake in Rajasthan block will be valued at around $13 billion,'' official sources
said.
Director
(Exploration II) ONGC is of the view that by virtue of holding 30 per cent in the Rajasthan block, it has the pre-
Shri Maninder Singh emption or RoFR to buy Cairn India in case the company's ownership changed. If it has objections
to the Cairn Energy-Vedanta deal, it will have to seek to buyout Cairn India in the Rajasthan block
by making a higher offer that would work out to $13 billion and that also before September 7
Director
deadline, the official added.
(International corp.)
P. Kalyanasundaram Another view in ONGC is to seek operator-ship or management control of the Rajasthan block in
lieu of giving a go-ahead to the Cairn-Vedanta deal. The production sharing contract, which Cairn
has signed with the government for the Rajasthan block, provides for explicit government
approval only in case of a party selling its interest in the block, but does not make the nod
mandatory in case of change of ownership at corporate level.

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The joint operating agreement between Cairn India and ONGC gives partners pre-emption rights
in case of sale of interest by either parties but not in case of corporate ownership change. Cairn
PetroMag maintains that the Vedanta deal was a controlling stake transfer and not an asset transfer which
would have triggered a government approval.
Directorate General of However, the Petroleum and Natural Gas Ministry maintains that since the production sharing
Hydrocarbons contracts for some of the Cairn other blocks have provision for prior consent, the whole deal is
contingent on government approval.
Director General
Mr. S K Srivastava ONGC, OIL can make a counter-bid

***** Can India’s state-owned firms join hands to mount a counter-bid for oil exploration firm Cairn
India after the surprising entry of Vedanta? These firms, despite their huge capital expenditure
Petroleum programmes earmarked for the next few years, appear quite capable of making a counter-offer,
Conservation and considering that the valuation does not appear prohibitively high.
Research Association
Both ONGC and Oil India have debt-free, cash-rich balance sheets and strong and growing
Executive Committee cashflows. Despite their own capital expenditure plans — ONGC is set to invest close to Rs 25,000
Chairman crore annually, while OIL has planned to invest Rs 8,500 crore over the next couple of years — it
Mr. S.Sundareshan may not be difficult for them to raise funds for a counter-offer. The debt that these companies can
raise could be as high as Rs 50,000 crore before their debt-equity ratio touches 0.5.
Member Secretary
However, the critical issue is whether such a move makes sense. It was just two years ago that
Exec. Director PCRA
ONGC acquired UK-listed Imperial Energy for $2.1 billion with reserves of 860 million barrels.
Mr. Arun Kumar Using that as a benchmark, paying $8.5 billion for 51% of Cairn’s currently estimated recoverable
reserves of 1.4 billion barrels may appear expensive.
*****
“It will need an underlying assumption of crude oil price at $100 per barrel to justify the Rs 405
Oil Industry Safety per share price for Cairn India. All visible upside for next 3-4 years appears captured in this,”
Directorate noted Sandeep Randery, research analyst in BRICS Securities.

Executive Director But a few analysts have argued that the Imperial and Cairn comparison is not fair. While
Mr. J B Verma Imperial’s assets were at a preliminary stage of development, production is fully underway in
Cairn’s Rajasthan fields. It is set to reach its plateau of 175,000 bpd by end 2011 and holds the
***** potential to ramp it up to 250,000 bpd, unlike in Imperial’s case where the production is
stagnating at close to the 20,000-bpd level. Besides, Cairn India also holds stakes in ten other
Petroleum Federation exploration blocks apart from the Rajasthan fields.
of India
For a long-term player who has a 15-20 year horizon, the pricing may still make sense.
Chairman Networth’s Diwan said, “Given the promising prospects for Cairn, it certainly is a good buy from a
Mr. S Behuria long-term perspective.” With Sesa Goa’s open offer for Cairn’s shares already on, oil PSUs need to
take a quick call on their future course of action.
Director General
Among the oil PSU pack, not all of them have the ability and the resources to participate in a
Mr. A K Arora
buyout now. “Given their cash-strapped conditions thanks to the subsidy burden, barring ONGC &
OIL, it would be difficult for other oil PSUs to fund an acquisition of the Cairn scale,” noted
***** Prakash Diwan, head-institutional business at Networth Stock Broking.

National Productivity Vedanta to get Rs 500 cr if Cairn buyout fails


Council
NEW DELHI: Vedanta Group, pursuing a $9.6 billion takeover of Cairn India, will get an estimated
President windfall of Rs 500 crore if the target firm's Scottish promoters fail to get shareholders' nod for the
Mr. Kamal Nath deal or solicit a rival bid. NRI billionaire Anil Agarwal-run Vedanta Group has reached a deal with
(Cabinet Minister) Cairn Energy to acquire up to 60 per cent stake in the Edinburgh-based firm's Indian unit Cairn
India, the country's fourth largest oil explorer.
Chairman
Dr. Ajay Shankar IAS The deal requires approval from the shareholders of all the entities involved including the seller
Cairn Energy. As per the terms of the deal, "if Cairn Energy's shareholders do not approve the
Director General transaction of it the sellers breach their non-solicit obligations, the sellers are required to pay a
Mr. N.C.Vasudevan break fee of 1 per cent of Cairn Energy's market capitalisation to the acquirer."

The deal terms also bar Cairn from soliciting any rival offer before the meeting of Cairn Energy's
*****
shareholders for considering approval for the transaction.

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"Prior to the meeting of shareholders of Cairn Energy, the sellers are prohibited from soliciting any
person to make competing proposal," as per the Share Purchase Deed between Cairn Energy and
PetroMag Vedanta Group. The agreement also requires a shareholder meeting to be convened on or before
October 30.
Oil Industry Considering the current market valuation of Cairn Energy, the break fee comes at 66.9 million
Development Board pounds (about Rs 500 crore). At present share price, Cairn Energy is valued worth 6.69 billion
pounds. Cairn Energy is listed on the London Stock Exchange (LSE) and in the early trade the
Chairnan stock was quoting at 4.78 pounds.
Mr. S Sundareshan
Vedanta Group, through its India-listed group firm Sesa Goa, has already made an open offer for
Member Secretary a 20 per cent stake in Cairn India and the offer begins on October 11. The Rs 13,631 crore offer
Mr Arun Kumar closes on October 30. Under the agreement, London-based Vedanta plans to acquire 51-60 per
cent stake in Cairn India through purchase of Cairn Energy Plc's stake and through open offer.
*****
Transfer of Mangla Oilfield in Rajasthan to Vedanta opposed
Petroleum & Natural
Gas Regulatory Board NEW DELHI: A CPI-M member today demanded in Rajya Sabha that the government should not
(PNGRB) allow transfer of Mangla Oilfield in Rajasthan to Vedanta Resources from Cairn Energy. Describing
Vedanta Resources as "dubious contractors" owned by "scrap dealers", Tapan Kumar Sen said
Chairperson there was a disquiet over change in the ownership of the Indian unit of Cairn Energy in which
ONGC has 30 per cent production sharing arrangement.
Mr. L. Mansingh
"Petroleum Ministry is maintaining a stoic silence on the deal," he said asking whether ONGC is
Commercial Member silent on its own or was made to do so. He demanded that the Centre should intervene and stop
Mr. L. K. Singhvi the deal instead of promoting share prices of Cairn and Vedanta in the market. London-listed
Vedanta group led by Anil Agrawal on Monday announced its decision to acquire up to 60 per cent
***** stake in Cairn India for USD 9.6 billion giving Vedanta Resources access to India's largest on-
shore oilfield.

Govt gets ambitious on shale gas

Taking a cue from the US and China, the government is finalising a roadmap for large-scale
commercial exploitation of shale gas — natural gas trapped in rocks — in the country’s
sedimentary basins. “This (shale gas) non-conventional and green fuel is the future and can be a
game changer for the economy of India, which spends over $90 billion every year on oil imports,”
said a petroleum ministry official.

Mapping of shales in four basins — Cambay, Assam-Arakan, Ganga and Damodar Basins — is
underway and like in the case of petroleum and coal bed methane, the government is planning to
offer shale blocks for commercial exploration by August, 2011.

US has the world’s largest shale gas reserves. China comes second. Shale gas extraction involves
tapping gas trapped between layers of shale rocks, similar to the extraction of gas in coal
beds.Public sector ONGC has begun studies to assess shale gas potential in the coal bed methane
(CBM) blocks awarded to it in the Raniganj and North Karanpura coalfields.

“We have placed the letter of intent for this pilot project to Schlumberger in April for R128 crore,”
a ONGC source said.ONGC officials said the petroleum ministry has directed it to form of a team of
representatives from the Directorate General of Hydrocarbons (DGH), ONGC, OIL and GAIL(India)
Ltd to study samples and suggest steps to pursue the shale opportunity.

OVL Records Highest Ever Oil & Gas Production from Overseas Assets

The Minister of State for Petroleum & Natural Gas Shri Jitin Prasada informed the Lok Sabha in a
written reply today that the consolidated production of ONGC Videsh Ltd. (OVL) of Oil plus Oil-
Equivalent Gas (O+OEG) during the year 2009-10 was 8.870 Million Tonnes recording highest
ever oil and gas production from its overseas assets. He added that the primary purpose of
acquiring oil and gas exploration/producing assets abroad is to gain access to equity oil and gas
from the acquisition. India imports over 70% of its requirements of crude oil. Considering the
widening energy demand-supply gap in the country, acquiring more oil and gas acreages abroad is
necessary for energy security.

PetroMag Petroleum Bazaar.com 8


Shri Prasada also informed that OVL has made an investment of USD 191.3 million and USD 55.6
million in San Cristobal Project and Carabobo-1 Project respectively in Venezuela till 31st July,
PetroMag 2010. OVL acquired 40% and 11% stake in San Cristobal Project and Carabobo Project 1
respectively in Venezuela. At their peak production, these projects are likely to yield per annum
equity oil of 2.5 million tonnes of oil from Carabobo-1 project and 0.89 million tonnes of oil from
Indian Oil Corp. Ltd. San Cristobal project. The Minister further said that OVL has currently presence in 15 countries,
out of which 9 projects in 7 countries have oil and gas production.
Chairman & MD
Mr. B M Bansal Cairn stake sale: ONGC wants royalty issue cleared

Dir (Mktg.) With a change in the ownership of Cairn India inevitable once the Cairn Energy-Vedanta Resources
Mr. G C Daga deal is formalised, ONGC will want to resolve the contentious issue of royalty payment for the
Dir (Fin.) prolific Barmer oilfields.

Mr. S V Narsimhan Since production began last year, ONGC — a 30 per cent stakeholder and licensee of the block —
has paid a cumulative royalty of Rs 302 crore up to June 2010, an official told Business
***** Line.“Though the Government is dealing with the issue separately, due to the sudden change in
ownership with the proposed deal, it is most appropriate that the issue is resolved,” an official
Bharat Petroleum said.
Corp. Ltd.
The block was awarded prior to the competitive bidding rounds regime (NELP). Cairn is the
operator of the block with 70 per cent equity. Under the licence conditions, ONGC took the stake
Chairman & MD
in the discovery without any cost, but has to bear 100 per cent of the royalty in addition to the
Mr. Ashok Sinha
development costs.
Dir (Mktg.) According to previous reports, the Government should be paid a royalty of 20 per cent on the net
Mr. S Radhakrishana price of the Rajasthan crude. ONGC has protested against the royalty payment and is seeking
reimbursement on the grounds that it was uneconomical. The Rajasthan field is the most
Dir (Fin.) prominent asset of Cairn India, which currently produces up to 1.25 lakh barrels of oil a day.
Mr. S K Joshi
Ever since Cairn Energy and Vedanta announced the proposed deal this week, Petroleum Minister
***** Mr Murli Deora and Petroleum Secretary Mr S. Sundareshan have maintained that “interests of
ONGC will be protected”. ONGC and Cairn India are partners in eight blocks, including the
Hindustan Petroleum Rajasthan fields. Of these, three blocks belong to the pre-NELP regime.
Corp. Ltd.
For the blocks awarded under the NELP regime, the Petroleum Secretary said that “apart from the
Chairman & MD financial transactions, the contractual obligations with the Government as per the production-
Mr. A. Balakrishnan sharing contract signed by the parent company need to be examined. The responsibilities and
technicalities of specific blocks will need to be studied”.
Dir (Mktg.)
Mr. S Roy Choudhury The Adventures of BPCL

S eptember 15, 2008, was hardly the day that one could talk business with a straight face or raise
Dir (Fin.)
money for projects. Lehman Brothers had just turned into vapour, Merrill Lynch had lost its
Mr. B.Mukherjee
independence a day earlier and a full-fledged financial crisis had taken strong hold. The global
financial order seemed to have ground to a halt.
*****
But Ashok Sinha, chairman and managing director of Bharat Petroleum Corporation (BPCL), had
Oil & Natural Gas the audacity to tap the London financial markets to raise $100 million for an acquisition in Brazil.
Commission It was almost as if he had not seen the TV.

Chairman & MD But Sinha and his teams in Mumbai and Brazil had every reason to feel the urgency. They had
Mr. R S Sharma plodded on for nearly a year cutting through a thick Brazilian bureaucracy and a million other
uncertainties to tie up a buyout of EnCana Brasil which owned ten promising deep-water blocks. It
Dir (Onshore) would be a major leap for the Indian refiner in its ambition to become a global oil and gas
Mr. A K Hazarika exploration company.

Dir (Offshore) But there was one problem. All the hectic parleying had taken time and the deadline to pay for the
Mr. Sudhir Vasudeva deal was just 48 hours away when Lehman threw in the towel. It was doubtless the worst financial
crisis in living memory but Sinha & co. weren’t going to give up after having come so close to the
Dir (Exploration) victory post.
Mr. D K Pande

PetroMag Petroleum Bazaar.com 9


ADAG gets nod for exploration of CBM in Madhya Pradesh

PetroMag The Anil Dhirubhai Ambani Group has been granted permission to explore Coal-Bed Methane
(CBM) in the Shahdol district of Madhya Pradesh, official sources said today.The Madhya Pradesh
Directorate General of Hydrocarbons has granted Petroleum Exploration Licence (PEL) to ADAG for
Reliance Industries exploration of CBM from Sohagpur (north) block in Shahdol district, on August 11, sources said.
Limited
As per the PEL, ADAG was given permission for exploring CBM in an area of 609 sq km, sources
Chairman said. Meanwhile, ADAG officials said the group has started its operation at the site since yesterday
Mr. Mukesh Ambani and after undertaking the core drilling operations, proper study would be conducted to access the
resources available there.
President & CEO
PMS Prasad The project of ADAG, which is setting up a 4,000 MW Sasan Ultra Mega Power Plant (UMPP) in
Sidhi district, will open a new source of non-conventional energy in the state which is in the grip
President (Refinery of an acute power crisis for a long time, they said. "ADAG's entry in the CBM sector is a good sign
Business) for the state," a source said.
Mr. P Raghavendran
Coal-Bed Methane is a form of natural gas extracted from coal beds by drilling holes into coal
***** seams and can be utilised for power generation, compressed natural gas (CNG) and fertiliser
manufacturing, sources said.
Essar oil Limited
Power production from CBM would not only contribute in reducing ozone layer threat but also open
alternative option of electricity generation, they said adding it is certainly a matter of pride that
Chairman
there were abundant CBM deposits in Madhya Pradesh
Mr. Shashi Ruia
Indian Petronet, GSPC to add new storage tanks at Dahej LNG terminal
Vice Chairman
Mr. Ravi Ruia India's Petronet LNG is planning to add two more storage tanks to its Dahej LNG receiving and
regasification terminal in a joint venture with Gujarat State Petroleum Corporation, A K Balyan,
Managing Director the newly-appointed managing director and CEO of Petronet LNG, said late Wednesday.
Mr.Naresh Nayyar
D J Pandian, Principal Secretary at the Gujarat state government's Energy and Petrochemicals
Director (Finance) Department and director of GSPC, also confirmed the project. Balyan said: "We have taken up this
Mr. P.Sampath matter with the Gujarat government." There is enough space available for two additional tanks at
the terminal so additional land may not be required, he added.
*****
Petronet LNG currently has four storage tanks and two regasification facilities at the terminal. Two
GAIL India Limited of the four storage tanks and a regasification facility were commissioned by Petronet in mid-2009.
In all, Dahej LNG terminal has 10 million mt/year capacity, which will go up to 15 million mt/year
Chairman & MD once new capacity is commissioned.
Mr. B C Tripathi
Since the proposed storage capacity would be set up under a joint venture between GSPC and
Petronet, GSPC would have exclusive access to it, Pandian said. He added that the Gujarat state
Dir (Fin.)
government has expressed interest in supporting the storage tank project, and offered all the
Mr. R K Goel
necessary help in expediting it.
Dir (Proj) Cairn deal faces fresh questions
Mr. R D Goyal
Fresh regulatory issues raised by the petroleum ministry as well as concerns about the open offer
Dir (HR) price expressed by an institutional investor in Cairn India Ltd, will have to be addressed before
Mr. S L Raina Anil Agarwal-promoted Vedanta Resources Plc’s can close out the $9.6 billion (`44,736 crore)
acquisition.
Dir (Mktg.)
Mr. Prabhat Singh Separately, tax authorities, who held a meeting with Cairn India, did not rule out raising a tax
demand on the deal. Both the government and the tax authorities maintained that a clear view
***** would emerge only after the proposal is submitted for approval.

Life Insurance Corp. of India (LIC), which holds a 2.57% stake in Cairn India, may not tender its
shares in the open offer made by Vedanta, which has proposed to acquire a stake of up to 60% in
the company. Vedanta will pay `405 per share—including a non-compete fee of `50 per share—to
Cairn Energy Plc to buy up to 40% of Cairn India, but the open offer price for an additional 20%
has been fixed at `355.

PetroMag Petroleum Bazaar.com 10


“It is not fair to discriminate (between) shareholders. All shareholders should be able to sell their
holdings at an equal price,” said a senior LIC official. “If we are not given the offer to sell at `405
PetroMag a share, we may hold on to our existing shareholding and look at the upside of the stock,” said the
official, who declined to be named because of the sensitive nature of the issue. With a stake of
14.94%, Petronas International Corp. Ltd is largest institutional shareholder in Cairn. It could not
Shell India Limited be ascertained whether Petronas will participate in the open offer.

Chairman GPPL bets big on coal cargos: IPO priced at Rs.42-48


Mr. Vikram Singh
Mehta India’s leading private sector ports player, Gujarat Pipavav Port Ltd (GPPL), promoted by global
ports and shipping conglomerate, APM Terminals BV, is aiming high for the bulk cargo business,
***** which company expects to shoot up with increased coal requirement for power capacities in the
country.
Castrol India Ltd.
GPPL, operational under the brand name, APM Terminals Pipavav handles over 3 million tonnes of
Chairman bulk cargos annually, of which nearly half is coal. In 2009, the GPPL handled coal cargos to the
Mr. Navin Kshatriaya tune 1.52 million tonnes, of the total bulk cargo handling of 3.37 million tonnes during the year.

***** In an interaction with media, Prakash Tulsiani, Managing Director, GPPL informed about the robust
prospects for the country’s ports sector on the back of increased international trades. “As the
Chevron Petroleum country is witnessing newer power generation capacities coming up in near future, which will
boost coal imports from outside countries thereby increasing cargo handling at ports too.”
President
He further informed that being a prominent non-major port in Gujarat, the company has huge
Mr. John Digby advantage considering the pace of growth in Gujarat’s industrial sector. “Dry bulk cargo accounted
34% of Gujarat’s total cargo traffic in the year 2008. Further, the State is also expecting
Chevron Lubricants substantial investments coming in the power sector by 2012 to add 11,164 MW of power
generation capacity. This we believe will boost cargo activity in the ports located in the close
Managing Director proximity,” he added.
Mr. Akhil Kumar
Out of the total revenue of Rs.219.11 crore recorded during fiscal 2009 (The company follows
***** financial year from January to December), the company registered Rs.102.4 crore coming from
container cargo, while the share of dry bulk cargo stood at Rs.98.7 crore for the period, the Draft
British Gas India Pvt. Red Herring Prospectus (DRHP) of the company stated.
Limited
Further, the company has a LPG berthing facility as well, however the volumes generated is very
Chief Executive meager as it is still at the beginning stage. Presently, Aegis (Gas) LPG Pvt Ltd is the sole customer
Mr. Frank Chapman for the LPG cargo service, said Tulsiani ruling out any possibility of creating additional capacity for
oil cargo berthing.
*****
GPPL is proposing a public offer via equity offer to the public and institutional investors. The
company, jointly promoted by APM Terminals Mauritius Holding Ltd and APM Terminals Mauritius
Caltex Gas India Pvt.
Ltd, along with APM Terminals BV will hit the capital markets on August, 23, 2010 with an initial
Ltd.
public offering (IPO) of equity shares of Rs.10 each for cash at a price band fixed from Rs.42-48
per share to raise around Rs.500 crore, besides an offer for sale of up to 11.7 million equity
Chief Executive shares by the private equity investors.
Officer &
GM (S & A) The issue is managed by Kotak Mahindra Capital, IDFC Capital and IDBI Capital, will close on
Mr. S. August 26. APM Terminals BV is the port operating arm of Danish shipping and oil conglomerate A
Ramasubramanian P Moller-Maersk.

***** Aban Offshore in pact with Cairn India for deploying rig

Total LPG Ltd. MUMBAI: Aban Offshore today said it has signed a contract with Cairn Energy India for deploying
a jack-up rig in the Ravva block located at the offshore of the east coast of India. The company
Chariman and CEO expects a revenue of Rs 69.75 crore from the contract which has the estimated duration of 150
Mr. Thierry Desmarest days, Aban Offshore said in a filing to the Bombay Stock Exchange.

***** The work will be done for "5 firm well plus 2 optional well programme." The deployment of rig in
the Ravva block, which is operated by Cairn Energy India in joint venture with ONGC, Videocon
and Ravva Oil, is likely to start during the fourth quarter of calendar year 2010, the filing added.

PetroMag Petroleum Bazaar.com 11


Tomorrow India celebrates Rajiv Gandhi Renewable Energy Day

PetroMag The event has been held every 20 August since 2004 to raise public awareness about the use of
new and renewable energy sources and their applications in daily life. On the first occasion of
Rajiv Gandhi Renewable Energy Day, a commemorative stamp (see inset) was released by the
Chennai Petroleum then Prime Minister.
Corporation Limited
(CPCL) Mankind is using up energy resources of mother earth in a way no other animal has ever done.
The largest contributions to current energy sources in the world come from oil (31%), coal (26%)
Managing Director and natural gas (19%). At the present rate of consumption, oil reserves will last for 40 years, gas
Mr. K Balachandran reserves will last for 60 years, coal reserves will last for 125 years and uranium reserves will last
for 1000 years.
*****
India has 17% of the world’s population, but only about 0.8% of the world’s known oil and natural
Balmer Lawrie & Co. gas sources. Our per capita coal reserves are much below Russia, USA and China. Based on the
Ltd. progress visualized for the nation during the next two decades, the power generating capacity has
to increase to 4, 00, 000 MW by the year 2030 from the current 1,30, 000 MW in India. This takes
Managing Director into consideration of energy economics planned and the design and production of energy efficient
Mr. S K Mukherjee equipments and systems.

***** New and emerging technologies like hydrogen energy, fuel cells, biofuels, electric & hybrid electric
vehicles, geo-thermal energy and tidal energy hold major promise for mitigating the energy crisis
in the country, especially for power generation and transportation as such to achieve energy
Oil India Limited
independence. These are renewable and do not get depleted with use like fossil fuels. Innovation
in technology, development and applications has to drive the renewable energy (Green Power)
Chairman & MD marketplace.
Mr. N.M.Borah
Over 1.64 billion people world across lack access to electricity. For those people, who cannot be
Dir (E&D) provided with electricity by extending the grid their hope rests in innovation and as such the
Mr. B.N.Talukdar emerging technologies? Presently installed generation capacity of renewable energy is 13,730 MW
from various sources which is approximately 8% of total installed capacity in the country and
***** contributing to around 3% of total national electricity generation. The stupendous growth
stimulates enhanced energy requirements.
Petronet LNG Limited
The Government of India set an example as one of the few countries that created independent
Chairman Ministry for renewable energy, the MNRE (Ministry of New and Renewable Energy) in the early
S.Sundareshan 1980s. In line with the Central Government Policy renewable energy development agencies in
state level are also created. As a follow-up action on the “Comprehensive Policy on Renewable
CEO & MD Energy” announced by the government of Maharashtra State Secondary and Higher Secondary
Mr. P Dasgupta Education Board, Pune have included the subject non-conventional energy sources in the syllabus
of Std IX to Std XII.
Dir (Tech)
S Radhakrishnan assumes charge of Bharat Petroleum Corp's CMD
Mr. C S Mani
S Radhakrishnan today assumed additional charge of Chairman and Managing Director of Bharat
Dir (Fin.) Petroleum Corp Ltd (BPCL), the nation's second largest state refiner. Radhakrishnan was
Mr. A Sengupta appointed the acting head of BPCL upon current incumbent Ashok Sinha's resignation, a company
press statement said.
*****
A Mechanical Engineer from IIT, Chennai and MBA from IIM, Bangalore, Radhakrishnan, 59, is
ONGC Videsh Ltd. Director (Marketing) in BPCL since November 2002. Sinha had in May put in his papers apparently
after it emerged that the government may deny him an extension. Sinha, which completed his
Managing Dir. five-year term on August 18, was eligible for an extension till he attained superannuation in
Mr. R S Butola February 2012.

However, the Petroleum Ministry was not inclined to give him an extension like it had previously
done in case of Sarthak Behuria of Indian Oil Corp (IOC), Subir Raha of Oil and Natural Gas Corp
(ONGC) and P Banerjee of GAIL. No reasons have been given for not considering Sinha for an
extension.

Sinha is the fourth head of a Navratana oil PSU, to be denied an extension. The oil ministry had in
2006 declined Subir Raha an extension as the Chairman and Managing Director of ONGC and a
year later GAIL's Prashanto Banerjee got a similar treatment. In February this year, Behuria was
denied an extension as the chairman of IOC.

PetroMag Petroleum Bazaar.com 12


CBI raids HPCL, Dena Bank officials for Rs.65 mn fraud

PetroMag Mumbai – The Central Bureau of Investigation (CBI) Thursday raided the offices and residences of
several high-ranking officials of a public sector oil major and a nationalized bank in connection
with a fraud amounting to nearly Rs.65 million ($1.4 million), an official said.
Cairn India Ltd.
The raids which continued till late Thursday, were carried out at the offices and residences of two
Chief Executive former chief regional managers of Hindustan Petroleum Co. Ltd (HPCL) and a former deputy
Officer general manager of the company (both from HPCL’s Byculla office), the branch manager of Dena
Mr. Rahul Dhir Bank’s Navi Mumbai (Kalamboli) branch and the owners of Lalit Gas Agency, in Panvel, Raigad.
The official said that the two private gas agency owners, Nihalchand Jain and his son Jinesh Jain
General Manager had availed excess credit limits from the HPCL with malafide intentions.
Crude Mktg. &
International Trade They also submitted a fake letter purportedly issued by the Dena Bank claiming that the Kalamboli
Mr. Karunakaran Hari Branch was converting to core banking and due to software upgradation, there was a connectivity
break, leading to non-processing of cheques Dec 24-31, 2008, the official said. The fake letter was
***** submitted by the Jain duo to HPCL with a request not to deposit their HDFC cheques.

Tata Petrodyne Ltd. Earlier, former chief regional manager S.N. Pradhan had enhanced the agency’s credit limit to
Rs.120 million, much beyond his authority of Rs.2 million during Sep 2006-May 2007 and also
Chairman failed to take adequate bank guarantees as stipulated by HPCL norms, the official said. Similarly,
in March 2008, another former chief regional manager,
Mr. M. A. Pathan
S.P. Donadkar, is also accused of hiking the credit limit to Rs.5.5 million for a company named
***** Enkei Castolloy, beyond his authority of Rs.2 million and bypassing HPCL’s norms. Since Enkei
Castolloy was making payments to HPCL through Lalit Gas Agency, Donadkar’s actions resulted in
Adani Group huge losses to the oil major, the official said. In this conspiracy, Lalit Gas Agency issued various
cheques to HPCL which were dishonoured on grounds that it had requested Dena Bank to stop
Executive Chairman payment.
Gautam S. Adani
PY-3 re-development offshore India under review
Managing Director
Rajesh S. Adani LONDON -- Production from the PY-3 oil field in the Cauvery basin off eastern India will likely
remain around 3,400 b/d for the rest of this year, according to operator Hardy Oil & Gas. The field
***** underwent a prolonged shut-in last year due to unscheduled repair and maintenance of the
offshore mooring facility. Normal service was finally restored on Jan. 24 this year.

However, Hardy says there will likely be further downtime during the monsoon season in
November and December. The partners are working on a full field redevelopment plan to enhance
production and ultimate recovery from PY-3, via additional wells and artificial lift. The current
proposal is to drill two more lateral production wells and upgrade the facilities to include gas
compression for gas lift and sales gas evacuation, although timing has not been finalized.

PY-3 is 80 km (49.7 mi) south of Pondicherry in water depths between 40 m and 450 m (131-
1,476 ft). The field was developed initially with floating production facilities and subsea wellheads,
a first at the time for an offshore field in India. Current facilities comprise the floating production
unit Tahara and the 65,000 dwt tanker Endeavor, which serves as a floating storage and
offloading unit. Four subsea wells are tied back to Tahara, including one currently acitve, naturally
flowing producer and two water injection wells.

Hardy also holds a 75% operating interest in offshore block CY-OS/2 on the south east coast of
India, in the same basin where gas was discovered in January 2007. The exploration period for
the block ended the following March, and a request was made to extend the block for appraisal
and declaration of commerciality of the non-associated natural gas (NANG) discovery until January
2012, in accordance with the provisions of the production sharing contract (PSC).

The company says it has initiated a formal dispute resolution process with the appointment of
three arbitrators in an attempt to push through the requested extension. The preliminary hearing
by the arbitral tribunal should start soon.

CY-OS/2 block is in the northern part of the Cauvery basin immediately offshore from Pondicherry,
and covers an area of around 859 sq km (331 sq mi). The northern area of the license includes
the Ganesha (Fan-A1) non-associated gas discovery.

PetroMag Petroleum Bazaar.com 13


Lebanon to auction offshore gas exploration by 2012

Petroleum BEIRUT — Lebanon's energy minister on Thursday said his country plans to outline its maritime
sea borders and auction off rights to explore potential offshore natural gas and petrol reserves by
Bazaar 2012.

"Now that the law on the exploration of offshore oil and gas reserves has been passed by
parliament, we expect to begin the licensing process for the exploration of the reserve in 2012,
PetroMag barring political hurdles," Gibran Bassil said at a news conference.

Lebanese MPs on Tuesday passed the law, which calls for the establishment of a treasury and a
committee to oversee exploration and drilling off Lebanon, a Mediterranean country without
Petroleum known oil reserves.
Bazaar Bassil said Lebanon was close to an agreement on maritime borders with Cyprus and was
unilaterally working on outlining its sea borders with Israel before submitting them to the UN
Security Council.
PetroMag Lebanon and Israel remain technically in a state of war and have no diplomatic ties.Ali Hamdan,
an advisor to Lebanese speaker Nabih Berri, on Tuesday told AFP he expected rights to be up for
auction by the end of 2011.
Petroleum
"This is definitely a major cornerstone in Lebanon's oil policy ... and will help Lebanon divide its
Bazaar reserves into blocks and eventually bring in tenders and start looking into power-sharing
agreements," he added.

Norway-based Petroleum Geo-Services this year announced it had explored Lebanese waters
PetroMag which contained "valuable information" on potential offshore gas reserves in coordination with
Lebanon's energy and water ministry.

Oil firm upbeat despite Falklands setback


Petroleum
Rockhopper Exploration remains upbeat about prospects for a commercially feasible hydrocarbons
Bazaar find in the Falkland Islands waters despite poor results from a well drilled in the southern part of
North Falkland Basin.

PetroMag Prospects for oil in the deep waters around the British Overseas territories have seesawed
between strong optimism and despair as companies funded by mostly British shareholders
continue drilling operations that began last year.

Petroleum The prospecting for oil, at one point said to consist of deposits as large as those in the North Sea
and even Saudi Arabia, has fed into Argentina's renewed claims of sovereignty over the islands it
Bazaar calls Malvinas.

Argentina's military regime invaded the Falklands in 1982 but was repulsed by Britain. The
resulting 74-day conflict led to the deaths of more than 1,000 military personnel and some
PetroMag civilians and a public surrender by Argentina. But the war did not extinguish Argentine aspirations
for the islands coming under its rule.

Argentina has been reacting with fury to news of successful oil finds in the Falklands' waters, of
Petroleum which there have been a few.Rockhopper Exploration said its first well, "Ernest," drilled in the
Bazaar southern part of the North Falkland Basin, was found to be dry. The news sent its shares
plummeting before continued investor interest helped the prices back Wednesday.

The company said its drilling reached a depth of 7,347 feet but found a "dry hole." The well was
PetroMag drilled about 75 miles from a previous discovery called the Sea Lion and targeted a previously
undrilled part of the basin, Rockhopper said.

The company has announced plans for detailed studies of all data and information gathered from
the well after samples are studied in the United Kingdom. Ernest was spudded July 23 and was
declared a dry hole Aug. 17, Rockhopper said.

PetroMag Petroleum Bazaar.com 14


US senators renew call for full Lockerbie probe

Petroleum WASHINGTON — The British and Scottish governments must back a new independent
investigation into the decision to free the Lockerbie bomber one year ago, four US senators angry
Bazaar over the release said Thursday. Democratic Senators Robert Menendez, Frank Lautenberg, Chuck
Schumer and Kirsten Gillibrand made their appeal in letters to Scottish First Minister Alex Salmond
and British Prime Minister David Cameron.

PetroMag The lawmakers have alleged that Scottish authorities may have let Abdelbaset Ali Mohmet al-
Megrahi return to his native Libya because of pressure from energy giant BP, eager to safeguard a
lucrative exploration deal with Tripoli. "We again call for a comprehensive, independent
investigation with subpoena authority into al-Megrahi?s release, fully supported by the UK and
Petroleum Scottish Governments," they wrote to Cameron.
Bazaar Such a probe "is ultimately the best avenue to address the concerns that we and the families of
the victims have raised," they wrote Salmond, who has denied that the embattled oil firm swayed
the decision."Until such an inquiry is launched, we will not stand by as an injustice remains very
PetroMag much alive in a villa in Tripoli. The American people -- and, indeed, the people of 21 nations who
suffered the loss of their loved ones -- require nothing less," they said in the letter to Salmond.

Megrahi was the only man convicted in the 1988 terrorist attack over the Scottish town of
Petroleum Lockerbie, in which 270 people died, including 189 Americans. He was released on compassionate
grounds from a Scottish prison on August 20, 2009 over US objections and allowed to return to
Bazaar Libya after receiving a diagnosis of terminal cancer and being told he had three months to live.

But he remains alive, prompting US critics to question whether oil giant BP had lobbied on
Megrahi's behalf in order to safeguard a 900-million-dollar contract with Libya -- something the
PetroMag firm and British officials deny.Menendez was expected to chair a US Senate foreign relations
committee hearing into the issue after lawmakers return from a six-week break on September 13.

And he and Lautenberg were to hold a press conference Friday with a woman who lost her father,
Petroleum brother and sister in the attack. They were to release a new letter to the Libyan, Qatari, Scottish
and British governments "citing evidence of commercial pressures influencing his release,"
Bazaar according to Menendez's office.

Australia To Be Japan's Top LNG Supplier


PetroMag The biggest supplier of liquefied natural gas to the world's top importer of the product has recently
been overtaken by competitors after more than 20 years--evidence of the major realignment
underway in the Asian, and global LNG sector.
Petroleum
Since the 1980s, Indonesia was the biggest source of Japan's LNG, but in the first six months of
Bazaar 2010 it was overtaken by Malaysia, and more importantly Australia, which is on track to become a
key player in the industry.

It will also be a tough competitor in emerging LNG markets to established players like Qatar and
PetroMag newcomers like Russia's Sakhalin-2 project, which started exporting in 2009. Japan, which
accounts for around 30% of global LNG demand, has committed to buying a lot more Australian
gas from a string of projects due on line in coming years. Emerging markets China and India have
also made commitments, as has existing major buyer South Korea.
Petroleum
Bazaar "With its new projects, Australia will become a major supplier to East Asia, replacing South East
Asian countries where there is little room to boost output," said Japan Oil, Gas and Metals National
Corp. analyst Shigeki Sakamoto.

PetroMag Malaysia and Australia exported 6.88 million and 6.33 million metric tons of LNG respectively to
Japan in the first six months of 2010 versus Indonesia's 6.30 million tons, Japan finance ministry
data show. Indonesia's decline is due to it using more gas at home and to insufficient investment
in its gas reserves, but future prospects aren't bad.

PetroMag Petroleum Bazaar.com 15


Oil for Petrobras plan seen $10-$12/barrel-report

Petroleum RIO DE JANEIRO Aug 19 (Reuters) - A consulting firm hired by Brazil's government has
recommended a price of $10 to $12 per barrel for crude to be used in an oil-for-shares capital
Bazaar plan for state-run company Petrobras, a local newspaper reported on Thursday.

That figure is considerably higher than market estimates of fair value between $5 and $6 per
barrel for the deal, in which the government will receive Petrobras shares in exchange for up to 5
PetroMag billion barrels of oil.

The firm's proposed price would also be higher than the government's estimates of $5 to $10 per
barrel when President Luiz Inacio Lula da Silva presented the plan a year ago.O Estado de S.
Petroleum Paulo reported that the firm, Gaffney, Cline & Associates, made the recommendation to the
National Petroleum Agency, the Brazil energy regulator known as ANP.ANP's press office did not
Bazaar immediately respond to requests for comment on the report, which cited unidentified sources.

Ugandan president to approve all oil, gas deals


PetroMag Uganda's President Yoweri Museveni wants the final say on all oil and gas deals as the country
prepares to launch oil production, a letter seen by Reuters shows. In the letter dated July 19 but
given to Reuters on Thursday, Museveni ordered his energy minister Hilary Onek not to sign any
Petroleum oil or gas deals without his prior, written consent.

Bazaar Museveni said he was changing the normal practice of a minister signing deals on behalf of the
government after advice from the attorney general, in order to safeguard against
mistakes.Museveni said the discovery of oil in Uganda had created a lot of "excitement and
stampede" among some people who were scrambling for easy money from the commodity.
PetroMag
"We should therefore not allow ourselves to be part of this stampede," he wrote in a letter copied
to other senior government officials, including the vice president and attorney general."In the case
of petroleum and gas, I direct that no agreement should ever be signed without my express
Petroleum written approval of that arrangement."
Bazaar Commercial hydrocarbon deposits were discovered in Uganda's Lake Albert Rift basin along the
border with the Democratic Republic of Congo in 2006 and reserves are estimated at 2 billion
barrels.Tullow Oil, Heritage Oil, Neptune Petroleum and Dominion Limited are some of the firms
PetroMag involved in the sector, which is expected to begin commercial production in the last quarter of
2011.

The opposition said Museveni's directive was aimed at giving him greater control of funds from the
Petroleum sector. "He wants to amass wealth as much as possible which obviously explains his interest in
personally controlling the oil bonanza that is coming," said Semujju Ibrahim Nganda,
Bazaar spokesperson for the Inter-Party Cooperation, a coalition of opposition parties.

Shell in Nigeria warns on production after pipeline sabotage

PetroMag Shell in Nigeria on Wednesday said it has warned it may not meet contractual obligations on
Bonny Light crude, after oil thieves sabotaged two pipelines in the country's south. "The force
majeure we declared is effective from August 16 at 1800 hours (1700 GMT)," company
spokesman Precious Okolobo told AFP, referring to the legal clause that frees the company from
Petroleum its obligations due to events beyond its control.
Bazaar "The crude deferment followed attacks on and crude oil theft from our Cawthorne Channel in
Eastern Niger Delta," he said. He declined to give figures on the amount of oil lost following the
attacks. "Efforts are ongoing to repair the damaged pipelines," Okolobo said. Over the weekend,
PetroMag Shell said sabotage of pipelines by oil thieves in southern Nigeria was on the increase and had led
to halts in production, without providing details on the amount of crude lost.

It said three separate incidents had occurred between August 1 and August 12 alone on two
Cawthorne Channel Bonny pipelines. Shell said "suspected crude thieves drilled holes or inflicted
hacksaw cuts to siphon oil." The most recent incident reported on August 12 had led the company
to deploy containment booms to stop the oil from further spreading in the swampy region, though
Shell declined to provide numbers on the amount spilled.

PetroMag Petroleum Bazaar.com 16


More oil from Russia to the Asia-Pacific region

Petroleum Now that a project to boost capacity of the Eastern Siberia-Pacific Ocean oil pipeline up to 50
million tons per year (with prospects of further capacity increase up to 80 million tons) has been
Bazaar approved, Russia is gaining chances to expand its presence in the Asia-Pacific energy market.

Five more oil pumping stations are going to be added to already existing seven to supply even
more Russian oil to Asia. Apart from this, several standby routes will be built via the rivers
PetroMag Angara, Lena and Aldan, as well as through the Ust-Ilimsk water reservoir.

Step-by-step extension of the Eastern Siberia-Pacific Ocean oil pipeline will speed up development
of the whole regions of Siberia and the Russian Far East. The project will boost infrastructure
Petroleum development of the region’s oil transportation system. An expert Alexander Pasechnik
comments.Russia has been successfully expanding its oil exports to the Asia-Pacific region, which
Bazaar is in no way a sensational decision. Expansion in exports had been planned in the original draft
project. So, the capacity of 80 million tons per year is what we expect the next stage of the
project’s implementation to bring us to.
PetroMag The first leg of the pipeline was commissioned last December to link Taishet, a town in the Irkutsk
region, and Skovorodino in the Amur region. From Skovorodino the oil is delivered further by
railway to the Kozmino port in the Primorsk region.There also will be a spur to China, turning the
Petroleum whole system into a global network connecting deposits in Western and Eastern Siberia with the
Pacific coast and providing diversification of the Russian energy resources. Until recently, Russia
Bazaar has exported its oil and gas mainly to Europe. But construction of the Eastern Siberia-Pacific
Ocean oil pipeline paved Russia the way to the APR, now the epicenter of global economic growth.

As China is the leading energy consumer in the APR, its demand for fuel is likely to increase twice
PetroMag in 10 years. India`s rapidly growing economy is causing growing demand for energy as well, while
South Korea and Japan are expected to reach the same level by 2015. So, there is no doubt that
the Russian oil will be in high demand in the region. Besides, delivering oil from Russia is quicker
than from the Middle East, which is an extra point playing into our hands.
Petroleum
Meanwhile, China has asked Russia to supply some oil for testing the newly built Chinese leg of
Bazaar the oil pipeline. Under the 2009 bilateral agreements, China is expected to start receiving 15
million tons of Russian oil per year.

PetroMag Venezuela oil deal with Trinidad & Tobago

Venezuela signed a deal with Trinidad and Tobago to develop natural gas fields along their shared
border. Venezuela will hold a 73 percent stake in the cross-border Loran-Manatee field, estimated
Petroleum to hold 10 trillion cubic feet of gas.

Bazaar Trinidad and Tobago Energy Minister Carolyn Seepersad-Bacha said the field had been under
discussion for almost 20 years. The deal is seen as part of a long-term strategy for Trinidad and
Tobago to shore up reserves and stimulate new upstream activity.

PetroMag The two countries are also expected to negotiate similar agreements for the Dorado-Kapot and
Cocuina Manakin fields, located on the shared maritime border."This is a start, and we are going
to be looking towards other areas where accords can be made," Seepersad-Bacha said after
signing the agreement Wednesday with Venezuelan Petroleum and Energy Minister Rafael
Petroleum Ramirez, Trinidad and Tobago's Newsday reports.
Bazaar Trinidad and Tobago's Prime Minister Patrick Manning signed a framework agreement for oil and
gas resources between the countries with Venezuelan President Hugo Chavez in March 2007.

PetroMag SRILANKA :Iran and Saudi to provide crude oil

Cabinet approval has been granted to a memorandum submitted by Petroleum Industries Minister
Susil Premajayantha to enter into an agreement with National Iranian Oil Company (NIOC) to
extend the existing term contract to produce two million MT of Iranian light crude oil (40,000
million barrels per day) from September 1, 2010 to August 31, 2011 with 120 days interest free
credit facilities, Communication and Mass Media Minister and Cabinet spokesman Keheliya
Rambukwella said.

PetroMag Petroleum Bazaar.com 17


Addressing the weekly Cabinet press briefing at the Government Information Department
Auditorium yesterday, Minister Rambukwella said Cabinet approval has also been granted to
Petroleum procure 135,000 MT of Arabian light crude oil from the Saudi Arabian Oil Company, Saudi Arabia,
during 2010 with 30 days interest free credit facility.
Bazaar
Prior to 2007, Iran offered only the normal credit facility up to 30 days. In response to a request
by President Mahinda Rajapaksa during his visit to Iran in 2007, the Iranian Government extended
interest free credit facility up to 120 days, the Minister said. "When Sri Lanka experienced severe
PetroMag shortage of foreign exchange in 2008-2009 as a result of the global recession, this credit facility
was a relief for Sri Lanka," the Minister added.

Bid to write off Rs 55 billion owed by CEB to CPC


Petroleum
Petroleum Industries Minister Susil Premajayantha told Parliament yesterday that the Ministry was
Bazaar discussing with the Treasury to write off Rs 55 billion that is due to the Ceylon Petroleum
Corporation (CPC) from the Ceylon Electricity Board (CEB).

PetroMag The Minister made this observation in response to a question raised by UNP MP Ravi
Karunanayake. Minister Premajayantha also stated that the CPC incurs a loss of Rs 24.50 from
each kerosene oil litre. It also incurs a loss of Rs 32.62 from a litre of furnace oil while the loss
incurred by a litre of diesel is Rs 5.25.
Petroleum
This loss was balanced by the profit earned by other fuels, he stated. The CPC earns a profit of Rs
Bazaar 2.25 from a litre of petrol 90 Octane while the profit earned from a litre of petrol 95 Octane is Rs
18.10.

Cnooc's first-half net profit more than doublesExplore related topics


PetroMag
HONG KONG Cnooc Ltd., China's largest listed offshore oil and gas producer by capacity, said
Thursday its first-half net profit more than doubled from a year earlier because of rising oil prices
and higher oil and gas output. Net profit for the six months ended June 30 was CNY25.99 billion
Petroleum (US$3.35 billion), up from CNY12.40 billion a year earlier.
Bazaar The result was above the average CNY21.07 billion forecast of six analysts. Revenue more than
doubled to CNY83.16 billion from CNY40.65 billion. Cnooc said its crude oil and gas output in the
first half rose 41% to 149.0 million barrels of oil equivalent. The average selling price of its crude
PetroMag oil was US$76.59 a barrel in the first half, up 55% from US$49.35 a year earlier. The company
proposed a first-half dividend of HK$0.21, up from HK$0.20 a year earlier.

Dana targeted for hostile bid


Petroleum
South Korea’s national oil company was on Thursday night on the brink of launching a £1.67bn
Bazaar hostile takeover bid for Dana Petroleum that could be announced as early as Friday. The move
would mark the first time an Asian state-owned oil company has made a hostile approach in the
UK, and signals an unexpected shift in the battle for overseas reserves by the region’s national oil
companies.
PetroMag
However, those people warned that the situation was still fluid and that the bid could be delayed.
Advisers to KNOC contacted Dana’s biggest shareholders after the market closed on Thursday to
sign letters of intent that they would sell their shares at £18 each – the level of KNOC’s latest
Petroleum approach to Dana’s board.
Bazaar KNOC’s move for Dana is part of a state-backed drive for the oil company to snap up foreign
energy resources to secure South Korea’s energy security, and to compete with the national oil
companies of China and India.
PetroMag
Dana is expected to use its interim earnings results, due next week, to launch a staunch defence,
focusing on the value in its oil exploration programme, which, it claims, KNOC has ignored.

Schroders, Dana’s largest investor, has called publicly for Dana’s board to engage with KNOC
since the Financial Times first revealed the bid approach in early July.

People close to KNOC’s Asia-based lenders said the Korean company had this week requested
adjustments to financing letters to provide the evidence of “certain funds” needed to formally
launch an offer under UK rules.

PetroMag Petroleum Bazaar.com 18


Oil Falls as Surprise Increase in U.S. Jobless Claims

Petroleum Crude oil traded little changed near a six-week low after falling as increased U.S. jobless claims
and a contraction in manufacturing added to concern the economic rebound in the world’s biggest
Bazaar oil-consuming country is slowing.

Oil, which is down 1.3 percent for the week, fell yesterday after the Labor Department said initial
jobless claims rose to the highest level since November. The Federal Reserve Bank of
PetroMag Philadelphia’s general economic index dropped to the lowest reading since July 2009. Total U.S.
petroleum inventories are the highest in at least 20 years, Energy Department figures show.

“The negative employment picture, along with collective record petroleum inventories, will
Petroleum continue to put pressure on energy markets,” said John Kilduff, a partner at Again Capital LLC, a
New York-based hedge fund that focuses on energy. “The negative Philadelphia index number
Bazaar adds to concerns about the strength of the economy.”

Crude oil for September delivery traded at $74.45 a barrel, up 2 cents, in electronic trading on the
PetroMag New York Mercantile Exchange at 8:27 a.m. Sydney time. Yesterday, the contract fell 99 cents, or
1.3 percent, to $74.43, the lowest settlement price since July 7. Futures are up 2.6 percent from a
year ago.

Petroleum Initial jobless claims rose by 12,000 to 500,000 in the week ended Aug. 14, Labor Department
figures showed. Claims exceeded all estimates of economists surveyed and compared with the
Bazaar median forecast of 478,000.

Oil prices close below $US75 a barrel

PetroMag Oil prices closed below $US75 per barrel on Thursday, down for a second day in a row, as weak
US data fuelled worries that the economic recovery is stalling, deepening concerns about demand
in the world's biggest oil consumer.
Petroleum The decline erased gains brought on early by an upgrade in growth prospects for Germany,
Europe's strongest economy.Losses piled up from Wednesday, when data showed US petroleum
Bazaar inventories soared to a record high.Advertisement: Story continues belowUS September crude
settled down 99 cents at $US74.43 a barrel, after hitting a low of $US73.96.

PetroMag In London, ICE front-month Brent last traded down $1.11 at $US75.36. Brent's premium against
US crude dropped back to below $1 a day after it rose to $1.39 - its highest since early June. Oil
found support early in the session from a rally in equity markets in Asia and Europe. European
shares rose after Germany's central bank upgraded its economic growth forecast for this year.
Petroleum
Analysts downplayed the effect on oil prices of deepening tensions between Iran and the United
Bazaar States. Ayatollah Ali Khamenei, the country's supreme leader, said on Wednesday that Iran would
not talk with the United States in the current climate.

Even with Thursday's decline, the US crude benchmark remained above the six-week low of
PetroMag $US73.83 touched on Wednesday, when the Department of Energy said total domestic commercial
petroleum stockpiles last week jumped to 1.13 billion barrels.

It was the highest level since 1990, when the government began reporting weekly
Petroleum data.Inventories hit a record despite drawdowns in crude oil and gasoline storage, prompting
Bazaar analysts to conclude that supplies were growing faster than demand.

Natural Gas Slips Despite Mild Inventory Build

PetroMag Natural gas futures fell Thursday despite a lower-than-expected supply increase as a weak read
on manufacturing activity in the Philadelphia region and a dismal employment environment fueled
investor concerns about the economy's recovery.

Natural gas storage in the lower 48 states added another 27 billion cubic feet for the week ending
Aug. 19, the Energy Information Administration said Thursday. The injection was more bullish
than projections provided by Platts, which called for storage levels to rise by 28 to 32 billion cubic
feet.

PetroMag Petroleum Bazaar.com 19


Although natural gas futures initially rose on the Nymex after the report, the September delivery
contract quickly reversed course. It finished the session 7 cents lower, or down by 1.6%, to settle
Petroleum at $4.17 per million British thermal units, as investors focused on fresh indications of weakness in
the broader economy and the prospect of even more injections to come.
Bazaar
Earlier Thursday, the Philadelphia Federal Reserve Bank said manufacturing activity in the region
contracted this month. That news followed the revelation that even more people applied for state
unemployment benefits for the first time last week. "[Traders] realize the injections are just going
PetroMag to start going up from this point forward," said Phil Flynn, energy analyst at PFGBest. "When you
see weakness in manufacturing from the Philly Fed and that temperatures have cooled, the prices
are starting to look forward. And we'll probably see a sizable injection next week."
Petroleum With storage now at 3.012 trillion cubic feet, levels remain 5.8% below the year-ago level. But the
report also showed supplies are still 7% above the five-year average. The U.S. Natural Gas
Bazaar Fund(UNG) ETF lost 1.3% to $7.04 during the session. Meanwhile, natural gas-related equities
weakened alongside the broader market with the NYSE Arca Natural Gas index down by 1.6%.

PetroMag Crude oil futures also weakened in the wake of the stumbling economic picture, as the most
actively traded October delivery contract shed $1, or 1.3%, to settle at $74.77 a barrel.
September heating oil lost 3 cents, or 1.2%, to settle at $2 a gallon, and October gasoline
surrendered 3 cents, or 1.6%, to settle at $1.88 a gallon.
Petroleum
Bazaar
Courtesy: Media Reports: PTI / Reuters / Financial Times / BBC Business News / DAWN (Pakistan)
PetroMag / Iran Times / The Times/ CNN/ BBC News / OPEC Press releases / Africa Intelligence / Australia
Daily / Hong Kong Times / Gulf News Economic Times / Times of India / Business Standard /
Business Line / Financial Express / Deccan Chronicle / Tribune / Telegraph / Statesman /
Hindustan Times / The Hindu / The Assam Tribune / Parliament House Press releases / Company
Petroleum Press releases / Ministry / Petroleum Bazaar staff reporting. Interoceanic Shipping Agency.
Bazaar

PetroMag

Petroleum
Bazaar

PetroMag

Petroleum
Bazaar

PetroMag

PetroMag Petroleum Bazaar.com 20


SALES PERFORMANCE
COs JULY MKT. SHARE GR.%IN RANK
GR. % RANK
2010 2009 2010 2009 MKT.SH.
BPC 2331.6 2222.2 4.9 2 20.22 19.83 2.0 2
IOC 5571.1 5273.6 5.6 1 48.32 47.06 2.7 1
HPC 2044.5 1972.4 3.7 3 17.73 17.60 0.7 3
OTH 510.4 528.5 -3.4 4.43 4.72 -6.1
PSU TOTAL 10457.5 9996.7 4.6 90.70 89.22 1.7
RIL 885.1 897.9 -1.4 7.68 8.01 -4.2
ESSAR OIL 131.3 152.2 -13.7 1.14 1.36 -16.1
SHELL IND 55.9 158.3 -64.7 0.48 1.41 -65.7
PRIVATE 1072.3 1208.4 -11.3 9.30 10.78 -13.8
INDUSTRY 11529.8 11205.1 2.9 100.00 100.00

APR-JULY MKT. SHARE GR.%IN RANK


COs GR. % RANK
2010 2009 2010 2009 MKT.SH.
BPC 9755.4 9173.0 6.3 1 20.24 19.65 3.0 1
IOC 23170.7 22009.1 5.3 2 48.07 47.15 1.9 2
HPC 8569.0 8271.9 3.6 3 17.78 17.72 0.3 3
OTH 2124.0 2022.8 5.0 4.41 4.33 1.7
PSU TOTAL 43619.2 41476.7 5.2 90.5 88.9 1.8
RIL 3747.4 3703.2 1.2 7.77 7.93 -2.0
ESSAR OIL 645.6 770.9 -16.3 1.34 1.65 -18.9
SHELL IND 193.7 728.9 -73.4 0.40 1.56 -74.3
PRIVATE 4586.7 5203.0 -11.8 9.51 11.15 -14.6
INDUSTRY 48205.8 46679.6 3.3 100.00 100.00

PetroMag Petroleum Bazaar.com 21


Industrial Sales Performance

Industry Sales Performance (Figs in TMT)

Sales for the month


Cumulative Sales (TMT) % Growth/ (Decline)
(TMT)
Products
Apr-Jun’ Apr-Jun’
June’10 June’09 Jun’10 Apr-Jun’10
10 09
LPG 1064.6 979.1 3150.1 2914.2 8.7 8.1
Naphtha + NGL 753.7 801.7 2266.6 2363.8 (0.6) (4.1)
MS 1242.1 1102.3 3610.7 3225.5 12.7 11.9
ATF / JP-5 401.9 363.5 1215.1 1117.8 10.6 8.7
SKO 714.6 781.9 2214.7 2316.9 (8.9) (4.4)
HSD 5193.6 4858.4 15848.6 14336.1 6.9 10.6
LDO 37.1 44.9 100.7 118.1 (17.5) (14.7)
FO/ LSHS 945.0 962.0 2645.4 2915.0 (1.8) (9.2)
Bitumen 387.4 464.5 1400.6 1491.1 (16.6) (6.1)
Lubes/Greases 88.5 113.0 271.1 315.3 (21.7) (14.0)
Total 10
10828.4 10471.3 32723.7 31113.8 3.4 5.2
Products
Others 618.0 662.3 1943.2 2016.9 (6.7) (3.7)
Total POL
11446.3 11133.6 34666.9 33130.7 2.8 4.6
Products
CNG 98.9 84.5 306.0 254.9 17.0 20.0
LNG 612.4 724.8 1895.3 2245.5 (15.5) (15.6)
Total GAS 711.3 809.3 2201.3 2500.4 (12.1) (12.0)

PetroMag Petroleum Bazaar.com 22


Pipeline Transfers
Pipeline transfers through inland product pipelines in the country during the month
and cumulative are given below:

Pipeline June'10 Apr-June'10

HBPL (Haldia-Rajbandh-Barauni)
121.4 308.1
HMRPL (Haldia-Mourigram-Chitragung-Rajbandh)
165.6 482.0
BKPL (Barauni-Patna-Mughalsari-Allahabad-Kanpur) *
192.9 572.1
GSPL (Guwahati-Siliguri)
100.1 362.4
MJPL (Mathura-Brijwasan-Ambala-Partapur-Jalandhar) **
510.7 1414.2
MTPL (Mathura-Tundla)
25.9 74.3
PRPL (Panipat-Rewari)
146.2 424.5
PBPL (Panipat-Bhatinda)
128.5 343.4
KAPL (Koyali-Ahemedabad)
20.7 63.3
KSPL (Koyali-Viramgam-Sidhpur-Sanganer)
241.6 652.4
KRPL (Koyali-Rathlam)
10.7 68.3
CTMPL (Chennai-Trichy-Madurai)
173.7 493.7
CBPL (Chennai-Bangalore)
45.5 115.8
KDPL (Koyali-Dahej)
65.9 277.7
MPPL (Mumbai-Pune-Solapur)
295.9 941.5
MUMBAI-MANMAD-BIJWASAN
232.2 720.1
MUNDRA-DELHI
476.9 1404.3
MHBPL (Mangalore-Hassan-Bangalore)
223.6 596.8
VVSPL (Vizag-Vijayawada-Secunderabad)
362.1 1053.2
CCKPL (Cochin-Coimbatore-Karur)
160.8 482.2
JLPL (Jamnagar-Loni) - LPG
194.7 613.2
VSPL (Vizag-Seconderabad) - LPG
61.9 174.7

PetroMag Petroleum Bazaar.com 23


Regionwise Industry Sales Growth
JUNE'10 APRIL - JUNE'10
PRODUCTS REGION
2010 2009 %GROWTH 2010-11 2009-10 %GROWTH
NORTHERN 324.4 300.9 7.8 989.7 929.6 6.5
EASTERN 135.5 123.9 9.4 405.6 365.8 10.9
LPG (LIQUEFIED
WESTERN 270.0 250.9 7.6 791.4 743.2 6.5
PETROLEUM
GAS) SOUTHERN 334.8 303.4 10.3 963.5 875.6 10.0

ALL INDIA 1064.6 979.1 8.7 3150.1 2914.2 8.1

NORTHERN 92.0 63.4 45.2 381.0 186.1 104.7


EASTERN 45.0 44.3 1.5 97.8 69.1 41.5
WESTERN 533.9 564.8 (5.5) 1526.1 1669.9 (8.6)
NAPHTHA/NGL
SOUTHERN 82.8 129.1 (35.9) 261.8 438.7 (40.3)

ALL INDIA 753.7 801.7 (6.0) 2266.6 2363.8 (4.1)

NORTHERN 414.1 363.8 13.8 1172.0 1046.2 12.0


EASTERN 136.3 116.7 16.8 382.1 335.9 13.7
MS (MOTOR WESTERN 333.9 301.4 10.8 994.6 902.6 10.2
SPIRIT) SOUTHERN 357.8 320.5 11.6 1062.1 940.7 12.9

ALL INDIA 1242.1 1102.3 12.7 3610.7 3225.5 11.9

NORTHERN 147.9 125.3 18.0 436.0 382.6 13.9


EASTERN 26.7 22.5 18.8 82.3 68.6 20.0
ATF (AVIATION WESTERN 118.4 112.7 5.1 366.7 350.7 4.6
TURBINE FUEL) SOUTHERN 108.9 103.0 5.7 330.0 315.8 4.5

ALL INDIA 401.9 363.5 10.6 1215.1 1117.8 8.7

NORTHERN 201.3 209.0 (3.7) 588.7 606.4 (2.9)


EASTERN 190.2 196.4 (3.2) 569.1 579.8 (1.8)
SKO (SUPERIOR WESTERN 191.2 224.6 (14.9) 646.4 675.6 (4.3)
KEROSENE OIL) SOUTHERN 131.9 151.9 (13.2) 410.4 455.1 (9.8)

ALL INDIA 714.6 781.9 (8.6) 2214.7 2316.9 (4.4)

NORTHERN 1791.5 1752.5 2.2 5469.6 5021.9 8.9


EASTERN 718.9 668.5 7.5 2187.0 1972.2 10.9
HSD (HIGH WESTERN 1211.8 1092.6 10.9 3726.8 3356.2 11.0
SPEED DIESEL) SOUTHERN 1471.4 1344.7 9.4 4465.2 3985.8 12.0

ALL INDIA 5193.6 4858.4 6.9 15848.6 14336.1 10.6

LDO/MLO NORTHERN 9.2 6.1 49.8 24.8 12.6 97.3


(LIGHT DIESEL
EASTERN 11.2 18.4 (39.1) 30.0 50.2 (40.3)
OIL)
WESTERN 13.8 17.9 (23.0) 37.6 47.3 (20.5)

PetroMag Petroleum Bazaar.com 24


SOUTHERN 2.9 2.5 16.0 8.3 7.9 4.5

ALL INDIA 37.1 44.9 (17.5) 100.7 118.1 (14.7)

NORTHERN 261.0 226.3 15.3 683.0 699.9 (10.2)


FO/LSHS EASTERN 92.8 91.2 1.8 274.1 245.0 (2.2)
(FURNACE
WESTERN 354.8 369.2 (3.9) 906.5 1100.1 (17.6)
OIL/LOW
SULPHUR SOUTHERN 236.4 275.3 (14.1) 781.8 869.9 (10.1)
HEAVY STOCK)
ALL INDIA 945.0 962.0 (1.8) 2645.4 2915.0 (9.2)

NORTHERN 149.6 165.0 (9.3) 466.1 484.1 (3.7)


EASTERN 51.6 54.7 (5.7) 179.2 169.4 5.8
WESTERN 110.1 142.8 (22.9) 453.6 505.2 (10.2)
BITUMEN
SOUTHERN 76.1 101.9 (25.4) 301.7 332.4 (9.2)

ALL INDIA 387.4 464.5 (16.6) 1400.6 1491.1 (6.1)

NORTHERN 17.8 17.5 1.8 48.5 44.7 8.3


EASTERN 13.8 15.3 (9.8) 41.7 42.8 (2.5)
WESTERN 35.0 56.2 (37.7) 117.8 166.3 (29.1)
LUBES/GRS.
SOUTHERN 21.8 24.0 (9.1) 63.1 61.5 2.6

ALL INDIA 88.5 113.0 (21.7) 271.1 315.3 (14.0)

NORTHERN 3408.7 3229.9 5.5 10259.4 9414.2 9.0


EASTERN 1422.0 1351.8 5.2 4249.0 3898.9 9.0
TOTAL 10 WESTERN 3172.8 3133.1 1.3 9567.5 9517.2 0.5
PRODUCTS SOUTHERN 2824.8 2756.5 2.5 8647.7 8283.5 4.4

ALL INDIA 10828.4 10471.3 3.4 32723.7 31113.8 5.2

PetroMag Petroleum Bazaar.com 25


Companywise Market Share
Companywise Market Share (%) Cumulative April – June 2010-11

PRODUCT IOC BPC HPC RIL ESSAR SHELL OTHERS TOTAL

LPG 47.8 25.8 26.4 0.0 0.0 0.0 0.0 100.0


MS 45.4 27.8 25.1 0.3 0.7 0.3 0.3 100.0
HSD 52.8 24.1 20.4 1.4 0.8 0.0 0.5 100.0
SKO 64.4 16.6 18.9 0.0 0.0 0.0 0.0 100.0
NAPHTHA 26.5 7.3 0.7 60.8 0.0 0.0 4.7 100.0
ATF 62.4 21.2 13.8 1.5 0.0 0.0 1.1 100.0
FO/LSHS 55.5 16.5 19.0 1.2 6.5 0.0 1.4 100.0
OTHERS 20.5 6.6 2.9 62.2 1.1 0.0 6.7 100.0

ALL PRODUCTS (Incl.


49.3 20.9 18.7 8.3 1.5 0.0 1.3 100.0
Own Use)

ALL PRODUCTS (Excl.


51.4 22.4 20.1 3.1 1.6 0.0 1.4 100.0
Own Use)

PetroMag Petroleum Bazaar.com 26


All India Sectorwise HSD-D Sales
MTS
JUNE APRIL-JUNE
SECTOR
2010 2009 %GROWTH 2010-11 2009-10 %GROWTH
Defense 24484 29786 (17.8) 65604 72818 (9.9)
Railways 190360 187545 1.5 576953 551545 4.6
STUs 176028 194240 (9.4) 544147 569283 (4.4)
Power 7621 28718 (73.5) 34618 63159 (45.2)
Automanufacture 7056 6773 4.2 15814 19785 (20.1)
Steel 10837 10170 6.6 34264 29718 15.3
Cement 18484 16320 13.3 54657 47640 14.7
Sugar 2746 2505 9.6 11053 9797 12.8
Mining 27293 22280 22.5 79798 64570 23.6
Textiles 8443 6747 25.1 28806 20981 37.3
Fisheries 9232 8227 12.2 45499 44745 1.7
Coal 34245 30762 11.3 111040 95743 16.0
Marine 48061 37232 29.1 166214 165375 0.5
Other-Private 296842 255146 16.3 938425 758692 23.7
Other-Govt. 49291 49479 (0.4) 160771 161884 (0.7)
Agriculture 39 49 (20.4) 78 78 0.0

TOTAL 911062 885979 2.8 2867741 2675813 7.2

PetroMag Petroleum Bazaar.com 27


Category –wise FO/LSHS Upliftments
[‘000MT]
JUNE Variation APRIL-JUNE Variation % Share
SECTOR PRODUCT
2010 2009 +/- 2010-11 2009-10 +/- CY/CUM
Power FO 14.4 31.5 -17.1 81.5 112.1 -30.6
LSHS 41.5 108.5 -67.0 187.3 315.1 -127.8
TOTAL 56.0 140.1 -84.1 268.8 427.2 -158.4 10.2%
Fertiliser FO 72.3 35.6 36.7 137.2 103.3 33.8
LSHS 78.3 92.8 -14.5 196.6 271.0 -74.4
TOTAL 150.6 128.4 22.2 333.7 374.3 -40.6 12.6%
Petrochemicals FO 27.1 31.8 -4.6 92.5 116.8 -24.2
LSHS 19.6 8.7 11.0 56.1 30.4 25.8
TOTAL 46.8 40.4 6.3 148.6 147.1 1.5 5.6%
Steel FO 15.9 9.6 6.3 46.4 37.0 9.5
LSHS 4.4 0.8 3.7 13.1 14.4 -1.3
TOTAL 20.4 10.3 10.0 59.6 51.4 8.2 2.3%
Other FO 191.0 132.0 59.0 456.8 382.9 73.9
LSHS 2.7 10.2 -7.5 10.8 20.2 -9.4
TOTAL 193.7 142.2 51.5 467.6 403.1 64.5 17.7%
General Trade FO 463.7 480.8 -17.1 1329.8 1453.5 -123.7
LSHS 13.9 19.7 -5.8 37.3 58.4 -21.1
TOTAL 477.6 500.5 -22.9 1367.1 1511.9 -144.8 51.7%

TOTAL FO 784.5 721.3 63.2 2144.2 2205.5 -61.3


LSHS 160.4 240.7 -80.3 501.2 709.5 -208.3
TOTAL 945.0 962.0 -17.0 2645.4 2915.0 -269.6 100.0%

PetroMag Petroleum Bazaar.com 28


Category-wise Naphtha Upliftments
QTY IN TMT
JUNE APRIL-JUNE
CATEGORY
2010 2009 Variation % SHARE 2010-11 2009-10 Variation %SHARE

POWER 42 94 -52 5.6% 156 388 -232 6.9%


FERTILISER 65 97 -32 8.6% 173 202 -29 7.6%
PETROCHEM 642 608 34 85.1% 1922 1766 155 84.8%
STEEL 4 0 4 0.5% 10 1 9 0.5%
OTHER 2 2 0 0.2% 5 6 -1 0.2%
GRAND TOTAL 754 802 -48 100.0% 2267 2364 100.0%

PetroMag Petroleum Bazaar.com 29


Crude Oil Production

Crude Oil Production (Figs in TMT)

Name of the
Production During

Undertaking / Unit June June May Apr-Jun Apr- Jun

2010 2009 2009 2010-11 2009-10


Production of Crude Oil
1. ONGC 2021 2026 2024 6075 6122
Onshore 586 619 623 1830 1863
Gujarat 474 470 494 1451 1420
Assam 67 104 84 245 307
Andhra Pradesh 25 25 26 77 75
Tamil Nadu 20 20 19 57 61
Mumbai Offshore 1435 1407 1401 4245 4259
Oil 1271 1242 1231 3730 3759
Condensates 164 165 170 515 500

2.OilIndiaLtd(OIL) 264.0 289.4 229.7 794.0 877.3


Assam 262.0 286.5 227.6 786.6 868.2
Arunachal Pradesh 2.0 2.9 2.1 6.2 9.1

3.DGH (Private/JVC) 653.7 436.4 691.3 1885.6 1265.1


Onshore 237.7 23.3 246.8 636.7 70.4
Arunachal Pradesh 8.2 5.9 8.5 32.2 24.9
Assam 1.6 0.7 1.8 4.9 3.3
Rajasthan 216.4 0.0 222.7 568.0 0.0
Gujarat 11.5 16.7 13.8 38.9 47.1
Offshore 416.0 413.1 444.5 1248.9 1195.3

GRANDTOTAL (1+2+3) 2938.7 2751.8 2945.0 8754.6 8265.0


Onshore 1087.7 931.7 1099.5 3260.7 2810.7
Offshore 1851.0 1820.1 1845.5 5493.9 5454.3

PetroMag Petroleum Bazaar.com 30


Natural Gas Production
Natural Gas Production (Figs in TMT)

Name of the
Undertaking / Unit June June May Apr-Jun Apr-Jun
2010 2009 2010 2010-11 2010-11
Production of Natural Gas
1. ONGC 1945.8 1900.8 1922.4 5762.1 5730.1
ONSHORE 445.4 465.8 464.2 1364.5 1411.2
Gujarat 161.8 159.2 161.0 477.0 477.9
Rajasthan 1.0 1 1.7 4.0 2.9
Assam 33.8 39.2 38.2 110.6 117.5
Tripura 48.6 46.4 49.7 146.1 138.9
Andhra Pradesh 117.3 123.8 120.1 355.4 372.6
Tamil Nadu 82.9 96.2 93.5 271.4 301.5
Offshore 1500.4 1435.0 1458.2 4397.6 4318.9
Mumbai High Offshore 1500.4 1435.0 1458.2 4397.6 4318.9

2. OIL 181.8 204.0 188.8 549.5 604.4


Assam 167.4 184.0 169.1 495.9 545.6
Arunachal Pradesh 1.8 1.9 1.5 4.8 5.7
Rajasthan 12.6 18.1 18.2 48.8 53.1

3. DGH PRIVATE / JVC 2373.9 1483.6 2474.4 7292.4 3595.4


ONSHORE 57.5 57.7 59.4 170.3 179.4
Arunachal Pradesh 2.3 0.7 2.7 7.5 2.3
Assam 4.6 4.1 5.3 15.2 12.4
Rajasthan 14.8 0.0 13.7 36.8 0.0
Gujarat 33.0 49.5 35.0 102.2 154.9
West Bengal $ (CBM) 2.8 3.4 2.7 8.6 9.8
OFFSHORE 2316.4 1425.9 2415.0 7122.1 3416.0

GRAND TOTAL (1+2+3) 4501.5 3588.4 4585.6 13604.0 9929.9


ONSHORE 684.7 727.5 712.4 2084.3 2195.0
OFFSHORE 3816.8 2860.9 3873.2 11519.7 7734.9

PetroMag Petroleum Bazaar.com 31


Refinery Production (Crude Throughput)
Name of the Production Cumulative Production
PSU /Private CO
Undertaking / Unit June June May Apr- Jun Apr- Jun
Refinery Production 2010 2009 2010 2010-11 2009-10
(In terms of crude)
Public Sector 9373.5 9069.1 9370 27751.9 27005.3
1. IOC, Guwahati 97.1 100.8 101 296.1 289.3
2. IOC, Barauni 509.7 539.7 527 1550.7 1158.2
3. IOC, Koyali 1082.8 950.7 986 3126.4 3433.1
4. IOC, Haldia 470.3 522.0 602 1607.3 1486.0
5. IOC, Mathura 774.6 605.8 785 2325.6 2160.2
6. IOC, Digboi 56.2 22.0 59 169.8 84.6
7. IOC, Panipat 1203.0 1185.5 1206 3645.0 3385.8
8.IOC Bongaigaon 186.5 185.4 207 560.5 469.3
Total IOC 4380.2 4111.9 4473 13281.4 12466.5

8. BPCL, Mumbai 1084.4 1098.0 1156 3265.8 2930.5


9. BPCL, Kochi 799.2 384.3 798 2310.7 1187.1

Total BPCL 1883.6 1482.3 1954 5576.5 4117.5

10. HPCL, Mumbai 347.6 588.5 415 1261.6 1829.5


11. HPCL, Visakh 554.4 780.2 725 2059.1 2270.9

Total HPCL 902.0 1368.7 1140 3320.7 4100.4

12. CPCL, Manali 899.9 852.8 786 2215.3 2588.7


13. CPCL, Narimanam 55.0 24.2 43 135.0 104.8

Total CPCL 954.9 877.0 829 2350.3 2693.5

14. NRL, Numaligarh 161.2 231.2 41 202.2 684.4


15. MRPL, Mangalore 1088.3 993.4 928 3007.3 2924.4
16. ONGC, Tatipaka 3.3 4.6 5 13.5 18.6

Private Sector 4127.4 4057.5 4383 12639.1 11359.2


1. RPL, Jamnagar 2908.0 2862.0 3125 8962.0 8598.0
2.Essar Oil (EOL), Vadinar 1219.4 1195.5 1258 3677.1 2761.2

TOTAL 13500.9 13126.6 13753 40391.0 38364.5

PetroMag Petroleum Bazaar.com 32


Import / Export – Crude & Petroleum Products
April'2010-June'2010 ('000MT) April'2010-June'2010('Rs. Crore)
IMPORT/EXPORT APR'10 (P)* MAY'10 (P)* JUN'10 (P)* APR'10 (P)* MAY'10 (P)* JUN'10 (P)*
IMPORT
TOTAL CRUDE OIL 14956 13515 12520 40353 34956 32047
PRODUCTS
LPG 323 300 294 1055 1015 977
MS/ PETROL 56 83 133 213 288 483
NAPHTHA/ NGL 145 226 0 396 547 110
SKO/ KEROSENE 30 183 55 131 585 180
HSD/ DIESEL 87 324 553 287 998 1749
LOBS/ LUBE OIL 121 116 0 266 257 0
FUEL OIL/LSHS 82 189 18 194 460 42
BITUMEN 6 7 0 10 11 0
OTHERS 289 268 63 508 455 249
TOTAL PRODUCT IMPORT 1139 1697 1116 3060 4615 3790
TOTAL IMPORT 16094 15212 13636 43413 39571 35837
EXPORT
LPG 0 0 0 0 0 0
MS/ PETROL 1139 1207 1016 4084 4050 3601
NAPHTHA/ NGL 757 836 694 2516 2618 2184
ATF 216 204 343 698 656 1087
HSD/ DIESEL 1379 1494 1538 4407 4703 4827
SKO/ KEROSENE 0 0 0 0 0 0
LDO 0 0 10 0 0 20
LOBS/ LUBE OIL 5 0 0 19 0 0
FUEL OIL/LSHS 339 262 234 786 543 467
BITUMEN 0 4 0 0 8 0
OTHERS 208 249 255 466 117 118
TOTAL PRODUCT EXPORT 4043 4256 4090 12974 12695 12304
NET IMPORT 12051 10957 9547 30439 26876 23533

PetroMag Petroleum Bazaar.com 33


Position of Petroleum Tankers
APROX.
PORT VESSEL SPLR/BYR ARRIVED CARGO COMMENT
QTY
VADINAR PERICLES GP 18AUG10 CRUDE 135000 ETC 19/08
NIL
VAD NORDIK 16AUG10
CRUDE 140000 ETC AM 20/08
(ESSAR) DISCOVERY
HIGH JUPITER 18AUG10 MOGAS 36000 ETC 19/08
FRONT 18AUG10
JAMNAGAR CRUDE 290000 ETC 21/08
CERCASSIA
AEGIA 18AUG10 HSD 100000 ETC PM20/08
GULF BAYNUYAH 17AUG10 NAPHTHA 20000 ETC 19/08
TORM VENTURE GLENCORE 18AUG10 NAPHTHA 36000 ETC PM19/08
MUNDRA JAG PRADEEP 18AUG10 MOGAS / HSD 22278 ETC PM20/08
JAG AANCHAL 17AUG10 HSD 59600 ANCHORAGE
PRATIBHA 18AUG10
KANDLA HSD 29000 ETC 20/08
VERNA
NIL
DAHEJ GULF RASTAQ 18AUG10 NAPHTHA 10500 ETC AM 20/08
HAZIRA ARAMON 19AUG10 NAPHTHA 40000 ETC AM 21/08
LEOPORD SEMPRA 19AUG10 NAPHTHA 35000 ANCHORAGE
MUMBAI ORIENTAL E. GLENCORE 16AUG10 NAPHTHA 30000 ETC PM21/08
SWARNA 13AUG10
HSD 20000 ETC 22/08
KALASH
JNPT AK AZAD 15AUG10 CRUDE 65000 ETC 20/08
GOA AL KHAN 17AUG10 FO 10500 REANCHORED
KARWAR NIL
MANGALORE MOTILAL NEHRU 18AUG10 CRUDE 50000 ETC AM20/08
NIL
COCHIN PLATRES 18AUG10 CRUDE 66000 ETC PM20/08
REMI MATRIX 13AUG10 FO 30000 ETC PM 22/08
TUTICORIN NIL
CHENNAI SWARNA MALA 18JUL10 HSD 15000 ETC PM20/08
ANKLESHWAR 16AUG10 CRUDE 141337 ETC AM20/08
KAKINADA NIL
PRATIBHA 17AUG10
VIZAG FO/LDO 22000/4000 ETC AM19/08
CHANDRABHAGA
VINASHIN 16AUG10
PARADEEP HSD 24500 ETC 19/08
VICTORY
PRATIBHA 17AUG10
SKO 2500 ANCHORAGE
CAUVERY
SUVARNA 09AUG10
HALDIA HSD 11670/10000LDG ETC 19/08
SWARAJYA
RN TAGORE 11AUG10 HSD 15600 ETC 20/08
BUDGE NIL

Position of LPG Tankers at Major Indian Ports


PetroMag Petroleum Bazaar.com 34
PORT VESSEL ARRIVAL QTY(mts) LOAD PORT SUPPLIER RCVRS REMARKS
KANDLA NIL
DAHEJ NIL
SIKKA NIL
MUMBAI M.LABHATREYA 15/08 8000 SIKKA RIL RIL ANCHORAGE
NIL
MINA AL
MANGALORE MAERSK GLORY 13/08 13000 KPC IOCL ETC 19/08
AHMEDI
M.MAHATREYA 18/08 13500 SIKKA RIL IOCL EXPECTED
TUTICORIN NIL
KAKINADA NIL
IOCL ETC 19/08
VIZAG BERGE NANTONG 08/08 19531 RUWAIS IOCL
RATANURA
M. VAMADEVA 11/08 26351 RASTANURA ARAMCO IOCL ANCHORAGE
HALDIA VERMILLION FIRST 15/08 13000 YANBU HPCL ETC 18/08
RUWAIS/RATA EXPECTED
BERGE NANTONG 15/08 19167 IOCL IOC
NURA
VM. VAMADEVA 22/08 13000 RASTANURA ARAMCO IOCL EXPECTED

PetroMag Petroleum Bazaar.com 35


Daily Price Of Petroleum Products
Updated on 16.08.2010
No. Product Selling Unit Mumbai
1 LIGHT DIESEL OIL – PSU (Basic) KL 33975.20
2 SUPERIOR KEROSENE OIL LIT -
3 SUPERIOR KEROSENE OIL (IND) KL 29404.00
4 NAPHTHA FOR GENERAL USE MT 36192.78
5 FURNACE OIL – PSU MT 26464.83
6 FURNACE OIL 380 MT 26523.62
7 LPG PACKED – DOMESTIC (14.2KG) CYL -
8 BITUMEN BULK – 80/100 MT 25650.00
9 BITUMEN BULK – 60/70 MT 26450.00
10 BITUMEN BULK – 30/40 MT 27710.00
11 BITUMEN PACKED – 80/100 MT 28750.00
12 BITUMEN PACKED – 60/70 MT 29550.00
13 BITUMEN PACKED – 30/40 MT 30810.00
14 SBP 55/115 KL 37100.00
15 HEXANE KL 33075.00
16 MTO (LAWS) KL 38000.00
17 BENZENE MT 42850.00
18 TOLUENE MT 39700.00
19 LSHS MT 27962.94
20 SCN (REF.NAP) MT 36442.78
21 LABFS MT 29530.00
22 HSD FDZ 1.4.10 KL 31165.12
23 MS (FDZ) 1.4.10 KL 39794.92

PetroMag Petroleum Bazaar.com 36


Retail Selling Prices of MS HSD s
MS/HSD prices applicable w.e.f June 26,2010

Figures in (Rs./Litre)

LPG LPG
Auto Gas
Location HSD MS 14.2 kg. Cyl. 19.0 kg. Cyl.
(W.E.F.26/06/2010) (W.E.F.26/06/2010)

Delhi 40.10 51.43 345.35 955.21 30.51


Kolkata 39.94 55.32 365.10 1003.15 32.89
Mumbai 41.98 55.88 348.45 987.00 33.23
Chennai 40.07 55.92 352.40 1092.98 33.37

Location HSD MS

Agartala 34.27 44.79


Ahmedabad 39.75 50.84
Aizwal 34.29 45.77
Ambala 34.21 47.36
Bangalore 39.87 53.71
Bhopal 39.10 51.10
Bhubhaneswar 37.95 47.70
Chandigarh 35.36 47.32
Dehradun 38.25 49.52
Gangtok 36.43 47.47
Guwahati 36.46 50.17
Hyderabad 38.90 53.08
Imphal 34.45 44.98
Itanagar 35.10 46.79
Jaipur 37.40 50.55
Jammu 36.66 50.64
Jullunder 35.18 53.18
Kohima 35.18 47.20
Lucknow 37.20 50.63
Panjim 38.05 48.43
Patna 37.43 49.56
Pondicherry 36.74 46.21
Raipur 39.29 48.80
Ranchi 38.04 47.86
Shillong 35.25 47.05
Shimla 36.28 49.86
Srinagar 37.88 52.28
Trivandrum 38.97 50.27

PetroMag Petroleum Bazaar.com 37


MCX Bhav copy
BHAV COPY – MULTI COMMODITY EXCHANGE (MCX)

Date: 19.08.2010

0
Open
Contract Open Today’s Today’s PCP Volume Value
Commodity Close interest
Month (Rs) High Low (Rs) (MT)/bbl (Rs.Lakhs)
‘000
CRUDEOIL 19JAN2011 3700.00 3702.00 3671.00 3682.00 3721.00 1.700 62.65 19
CRUDEOIL 17DEC2010 3679.00 3704.00 3650.00 3670.00 3666.00 1.700 62.55 48
CRUDEOIL 18NOV2010 3633.00 3667.00 3600.00 3605.00 3643.00 18.000 653.10 229
CRUDEOIL 20OCT2010 3605.00 3625.00 3541.00 3551.00 3600.00 521.800 18673.61 1509
CRUDEOIL 20SEP2010 3558.00 3577.00 3496.00 3505.00 3551.00 13992.000 494377.75 44106
CRUDEOIL 19AUG2010 3521.00 3549.00 3450.00 3457.00 3523.00 12594.600 441285.60 10628
Open
Contract Open Today’s Today’s PCP Volume Value
Commodity Close interest
Month (Rs) High Low (Rs) MMBTU (Rs.Lakhs)
‘000
NATURALGAS 26OCT2010 211.00 216.00 208.00 209.70 210.60 797.500 1685.74 1020
NATURALGAS 27SEP2010 200.20 206.10 197.00 199.00 200.00 11125.000 22306.13 6382
NATURALGAS 26AUG2010 197.80 204.10 193.60 195.80 197.30 64380.000 127340.17 18038

PetroMag Petroleum Bazaar.com 38


Tenders

Tenders for the Month August 2010

Tender Authority Nature Of Work Tender Number Due Date

Karnataka State Road Transport


Supply of Bio-diesel. G-33-10 23-Aug-2010
Corporation, Bangalore, Karnataka
Supply of 14.2 Kg LPG Cylinders
Hindustan Petroleum Corporation Ltd.
[Water Capacity - 33.3 Ltrs.] fitted 10000040-HD-12001 23-Aug-2010
Mumbai, Maharashtra
with SC Valve.
Carrying out an assessment of
Ministry of Rural Development, New Jatropha/Pongamia Plantation
7-26/2008-TE 24-Aug-2010
Delhi, Delhi undertaken for Bio-diesel Production in
the country.
Himachal Road Transport Corporation
Supply of Lubticants. HRTC-Shimla-28/07 24-Aug-2010
Shimla, Himachal Pradesh
Supply, Installation and
Research Designs & Standards Commissioning of Total Sediment SP-
26-Aug-2010
Organisation, Lucknow, Uttar PradeshTester for HSD Fuel and Its Bio-Diesel 3/0089/M&C/GT/09
Blend.
ONG/COL/HMM/CSR/
Oil & Natural Gas Corporation Ltd., Hiring of services for pigging Operation
PO/13/2010- 26-Aug-2010
Mumbai, Maharashtra for 3 years contract.
11/P76RC10003
Integrated Shot Hole Drilling and
Oil & Natural Gas Corporation Ltd., Seismic Job services for field parties to
L26BC10012 26-Aug-2010
Jorhat, Assam be deployed in Type-I, II and III areas
of Assam and Tripura.
Institute of Road Transport, Chennai,
Supply of Lubricants. IRT-Chennai-07/07/3 27-Aug-2010
Tamil Nadu
Indian Oil Corporation Ltd., Mumbai, Hot Repairs to LPG Cylinder (14.2 kg & MSO/LPG/OPS/PT-
27-Aug-2010
Maharashtra 19 kg). 04/10-11
Indian Oil Corporation Ltd., Mumbai, Hot Repairs to LPG Cylinder (14.2 kg & MSO/LPG/OPS/PT-
27-Aug-2010
Maharashtra 19 kg and 47.5 kg). 05/10-11
Hiring of operations and maintenance
Oil & Natural Gas Corporation Ltd.,
services for ONGC owned work over BN6RC10005 29-Sep-2010
Vadodara, Gujarat
rigs.
MPSO/LPG-O/PT-
Indian Oil Corporation Ltd., Jabalpur, Bulk Transportation Contract of Auto 02/2010-13/AUTO
01-Sep-2010
Madhya Pradesh LPG. LPG
TRANSPORTATION
Bharat Petroleum Corporation Ltd., Supply of about 40.33 lac. nos. 14.2
1000125304 03-Sep-2010
Mumbai, Maharashtra Kg. LPG Cylinders.
Awarding of Bulk LPG Transportation
Indian Oil Corporation Ltd., Mumbai, LPG/OPS/TT(WR)201
Contracts for 78 LPG Tank Trucks 06-Sep-2010
Maharashtra 0
[including in phased manner].
Ministry of Defence, Kolkata, West
Supply of LPG Appliances Type A&B. MD-Kolkata-09/08 07-Sep-2010
Bengal
Statutory testing and painting of LPG
Indian Oil Corporation Ltd., Mumbai, MSO/LPG/OPS/PT-
Cylinders [14.2 Kg, 19 Kg and 5 Kg 10-Sep-2010
Maharashtra 07/10-11
cap.] ex LPG Plant.
Statutory testing and painting of LPG
Indian Oil Corporation Ltd., Mumbai, MSO/LPG/OPS/PT-
Cylinders [14.2 Kg, 19 Kg and 5 Kg 10-Sep-2010
Maharashtra 06/10-11
cap.] ex LPG Plant.
Contract for the day to day
Mech/OT/13/MLDT of
Eastern Railway, Malda, West Bengal maintenance/checking of LPG pipeline 15-Sep-2010
2010-11
of 4 nos. of pantry cars.

PetroMag Petroleum Bazaar.com 39


Events

Events Details Contact Dated

Offshore Northern Seas (ONS) Conference, Phone: +47 51 84 90 40 August 24,


Stavanger, Norway Email: info@ons.no 2010

Phone: 202 457 0480 August 24,


NPRA Cat Cracker Seminar, Houston, Tex., USA
Fax: 202 457 0486 2010

Phone: +370 37 401 952


August 25,
IAEE European Conference, Vilnius, Lithuania Fax: +370 37 351 271
2010
Email: iaee2010@mail.lei.lt
Phone: 972 952 9393
SPE Annual Technical Conference and Exhibition, September 19,
Fax: 972 952 9435
Florence, Italy 2010
Email: spedal@spe.org
Phone: +64 3 962 6179
New Zealand Petroleum Conference, Auckland, September 19,
Fax: +64 4 471 0187
New Zealand 2010
Email: Helen.moriarty@med.govt.nz

NPRA Environmental Conference, San Antonio, Phone: 202 457 0480 September 20,
Tex., USA Fax: 202 457 0486 2010

Herold Pacesetters Energy Conference, Greenwich, Phone: 203 847 3344 September 20,
Conn. , USA Fax: 203 847 5566 2010

Phone: 713 292 1945


IADC Drilling HSE Europe Conference & Exhibition, September 29,
Fax: 713 292 1946
Amsterdam , The Netherlands 2010
Email: info@iadc.org

API Fall Committee on Petroleum Measurement Phone: 202 682 8000 October 04,
Standards Meeting, Westminster, Colo. , USA Fax: 202 682 8222 2010

Phone: 972 952 9393


SPE Middle East Health, Safety, Security, and October 04,
Fax: 972 952 9435
Environment Conference, Manama , Bahrain 2010
Email: spedal@spe.org
Phone: +44 0 207 596 5000
Kazakhstan International Oil & Gas Exhibition & October 05,
Fax: +44 0 207 596 5106
Conference, Almaty , Kazakhstan 2010
Email: oilgas@ite-exhibitions.com
Phone: +44 0 1242 529 090
October 11,
Petchem Arabia Annual Meeting, Manama , Bahrain Fax: +44 0 1242 529 060
2010
Email: wra@theenergyexchange.co.uk

IPAA OGIS San Francisco, San Francisco, Calif., Phone: 202 857 4722 October 12,
United States Fax: 202 857 4799 2010

Phone: 713 292 1945


IADC Contracts & Risk Management Conference, October 13,
Fax: 713 292 1946
Houston , USA 2010
Email: info@iadc.org
Phone: 281 228 6200
Materials Science and Technology Conference & October 15,
Fax: 281 228 6300
Exposition, Houston, Tex. , USA 2010
Email: firstservice@nace.org
Phone: 972 952 9393
SPE Asia Pacific Oil and Gas Conference & October 17,
Fax: 972 952 9435
Exhibition, Brisbane , Australia 2010
Email: spedal@spe.org
Phone: 918 497 5500
SEG International Exposition and Annual Meeting, October 17,
Fax: 918 497 5557
Denver, Colo. , USA 2010
Email: register@seg.org
Phone: 432 367 1112
Permian Basin International Oil Show, Odessa, October 19,
Fax: 432 367 1113
Tex. , USA 2010
Email: pbioilshow@pbioilshow.org

PetroMag Petroleum Bazaar.com 40


Contact Us

Director
Abhijit Bhattacharya
b_abhijit@vsnl.com
director@petroleumbazaar.com

Content / subscription
M. Rajeshwar Reddy Petroleum Bazaar Activities:
petroleum.bazaar@gmail.com
rajeshwar@petroleumbazaar.com Setting up the Franchisee Network
Import / Export of Petroleum Product
Marketing of Petroleum Product
Circulation / Advertisement
Anupama Pawar Publications:
pbazaar.advt@gmail.com
pawar@petroleumbazaar.com PetroMag – e-zine Daily
Petroleum Bazaar – Monthly Magazine – Print Media
Petroleum Next – Diesel, Alternate Fuels
Registered Office: DataMag – Data base on oil industry – Monthly

Petroleum Bazaar Consultancy:


113, Sona Shopping Center,
Cinestar Compound, Trikamdas Jatropha Plantation / Bio-Diesel Marketing
Road, Kandivali (West), Conservation / Energy Audits / Total Lubes Management
Mumbai-400067 Setting up / Operation / Improving Sales of Petrol Pump
Phone-0091-022-28077450, Setting up CNG Stations
Tele Fax-022-28017099 Training / Events / Seminar

E-mail-
director@petroleumbazaar.com

Our Branches

Rajkot Activities:
rajkot@petrleumbazaar.com
Jatropha Plantation
Iran Bio-diesel Production from Jatropha, Palm Oil
Mr.Alireza Bio-diesel Marketing
Yousefabad, Tehran, Iran Customer tie-ups, trial runs,
iran@petroleumbazaar.com Petroleum Next – An alternate Fuels-weekly Magazine
Organizing Seminar / Event on Bio-Diesel

PetroMag Petroleum Bazaar.com 41