IOC: Riding high

Brokerages are bullish on IOC's performance going ahead. Here are the reasons:
8(a) GRMs are on track for a US$ 2/bbl improvement from Q1FY18, as Paradip utilisation improves to >95% (from 85% now); (b) marketing EBITDA is guided to hold steady at Rs 20bn per quarter on cost reduction; and (c) future investments will mostly cater to efficiency gains across the value chain (refinery, marketing), while greenfield investments have peaked out. 
 Paradip to bump up GRMs by ~US$ 2/bbl: IOCL’s Paradip refinery is on track to attain >95% utilisation levels in Q1FY18.  Expectation is for ~US$ 11/bbl GRMs for Paradip considering its product slate advantage (80% output comprises diesel and petrol). With operating costs at ~US$ 2/bbl, this refinery would prove more efficient than peers Bina (BPCL-Oman Oil JV) and Bhatinda (HPCL-Mittal Energy JV)...http://goo.gl/WNluOb

Punj Lloyd: Looking up

No other company was hit harder by the vagaries of the oil and gas industry than Punj Lloyd.
8Soon after a big contact with ONGC turned toxic, the company was hit by the oil price crisis. As a result red ink was spilled all over its balance sheet.
8The company however is fighting back and customers are reposing trust on both its boss Atul Punj and his company.
8Two recent contracts and lower losses are bringing about the change...http://goo.gl/WNluOb

GAIL's 5.8 MMTPA US LNG offtake obligation: Uncertainty looms

What is the latest on GAIL's 5.8 MMTPA of LNG that it has contracted from two US terminals, Sabine Pass and Cove Point?
8The gas major has made no progress beyond reselling 1 MMTPA of that allocation to Shell and a handful of other players.
8It still has another 4.8 MMTPA of LNG off take obligation to take care of.
8The gas major has issued a tender for swapping these volumes with LNG traders in Africa, the Middle East or Asia Pacific but the response is unknown.
8GAIL says it will be able to fully derisk its...http://goo.gl/WNluOb

Click on the following links for more on this story:
GAIL's 5.8 MMTPA US LNG offtake obligation-III: Is it time to take some action?

Gas drilling programme coming up in August-September, 2017

An E&P operator has the following plans for a gas field:
8The phased development of the project is progressing as per plan to achieve a gradual ramp-up in production.
8The programme for drilling of remaining wells out of the total wells planned in the field is expected to be taken up in the month of August-September,2017...http://goo.gl/WNluOb 

Ethane vs. Naphtha to produce ethylene: How does it work for RIL?

What is the big advantage that RIL plans to have by moving from naphtha to ethane to fire its petrochemical plants
8The RIL model is based on the advantages that the US petrochemical industry is reaping from low cost of cost
8The driver of U.S. competitiveness is the cost to convert ethane to ethylene versus naptha to ethylene...http://goo.gl/WNluOb 

Indian LPG demand shoots up: BPCL, HPCL in market for more purchases

India’s Bharat Petroleum Corp. Ltd. (BPCL) was said to have secured three medium-sized gas carriers (MGCs) of LPG for February loading at premiums of around $60/mt to Feb
CP, said trade sources.
8In the LPG market, bullish sentiments continued for Feb-lifting barrels on the back of the tight supply in the Middle East and spot demand emerged in South Asia...http://goo.gl/WNluOb