A case for carbon tax in India: But gas sector will not gain from it

 There is a seductive argument for a carbon tax in India. But what should be the optimal tax rate?
A full blown analysis of emission mitigation opportunities are investigated taking into account a tax that increases in equal yearly increments of Rs 165 per tonne to reach Rs 2301 per tonne by 2030.

The carbon tax has been found to be the most suitable way of bring down emissions in comparison to host of other measures, ranging from a road fuel tax to encouraging higher efficiency, power sector feebate, renewal subsidy, excise on electricity to a coal excise tax.
The impact of the carbon tax on the pricing matrices of various industrial segments in India is thoroughly investigated in the report and it has been found to be marginal.

The carbon tax will reduce energy-related CO2 emissions by about 8 percent and 22 percent below BAU levels in 2020 and 2030 respectively. These results are driven almost entirely by reductions in coal use, which account for 98% of the CO2 reduction and 2 per cent coming from the oil and gas sector
Does a carbon tax therefore necessarily lead to a higher usage of gas?

Source: Indian PetroPlus

What keeps global energy experts awake at night: Find out more

A very interesting study assesses the various risks that the oil & gas industry faces as of now, from the point of view of energy experts around the world
A large range of factors have been identified according to their impacts
Interesting developments in India, China and Russia are among the factors that add the basket of risks
Coal and nuclear power has moved down on the risk ladder as their importance is waning though strong regional differences remain
What is keeping world energy leaders awake at night are a whole set of different factors and they include electric storage and market design
The move to a hydrogen economy is also an increasingly risky factor.
For energy experts this is a must-read document

Source: Indian PetroPlus

Multi-client 2D seismic studies: The proposals sent for clearance

Three proposals have come in for multi-client 2D seismic surveys in the eastern offshore to the DGH
One involves a 8000 km survey in Andaman islands, while the other is a bigger study covering offshore KG Basin. The third proposal pertains to a 10000 km study in the west coast
The proposals are in the process of approval at this point
Meanwhile, the website also carries here the targets and achievements under the National Seismic programme, involving 26 sedimentary basins. So far progress on this front has been slow
For those looking for opportunities, including marine services, we carry here the names of companies involved.

Source: Indian PetroPlus

Gas now competes with wind and solar power

Gas is not longer only competing with coal but also with wind and solar power
Government subsidies have helped wind and solar get a foothold in global power markets, but economies of scale are the true driver of falling prices.
Unsubsidized wind and solar are beginning to outcompete coal and natural gas in an ever-widening circle of countries.
Clean energy installations broke new records worldwide in 2016, and wind and solar are seeing twice as much funding as fossil fuels.

Source : Indian PetroPlus

Getting out of stagnation: ONGC says it has done it

Even though this website remains a little skeptical of the claims made by ONGC, the company itself seems to say that its gas production will grow at an annual rate of 10-15% over the next three years.
ONGC expects Daman/C26 fields to add 4.5 mmscmd to production in FY18.
S1 and Vashishta gas fields would add 1.5 mmscmd while WO16 would add 1.2mmscmd in FY18.
IOR at the Bassein field is expected to add 3.9 mmscmd in FY19. In the longer run, Cluster-2 at KG DWN-98/2 would add a peak production of ~16 mmscmd.
ONGC has also guided that oil production from nominated fields would increase. The WO16 field would add 3,800 bopd in FY18 while Vasai East is likely to add another 4,800 bopd.
Ratna & R-series would add 3,000 bopd in FY19 along with 8,000 bopd from B127 and 5,000 bopd from Assam.
Ratna & R-series would peak at 14,700 bopd in FY20. Production from Cluster-2 would commence in FY21, with peak expected at 77,000 bopd.
The incremental oil output will counter the decline from its ageing oil fields

Source: Indian Petroplus

BS-III vehicles ban: Two-wheeler industry took Rs 600 crore hit

TOKYO - Oil prices edged down on Tuesday, as a recovery in Libyan output and rising U.S. supplies raised worries that OPEC-led production cuts may not significantly tighten a bloated market.

Oil has been weighed down by the market's impatience with the slow pace of inventory drawdown globally, even after major oil producers agreed to cut production by 1.8 million barrels per day for the first half of 2017.

London Brent crude for July delivery was down 7 cents, or 0.1 percent, at $51.45 by 0021 GMT, after settling down 53 cents on Monday. Brent crude has risen only around $1 from a one-month low of $50.45 hit on Thursday that came after the restart of two key Libyan oilfields.

NYMEX crude for June delivery was down 10 cents, or 0.2 percent, at $48.74.

Libya's National Oil Company said production has risen above 760,000 bpd to its highest since December 2014, with plans to keep boosting production.

The Organization of the Petroleum Exporting Countries and participating non-OPEC countries meet on May 25 to discuss whether to extend that reduction.

U.S. drillers added nine oil rigs last week, bringing the count to the most since April 2015, energy services company Baker Hughes said on Friday. Crude output in the United States is at its highest since August 2015. [RIG/U]

U.S. Interior Secretary Ryan Zinke on Monday signed an order directing the government to issue a new five-year plan for development on the U.S. Outer Continental Shelf to implement President Donald Trump's directive to review drilling bans in parts of the Atlantic, Arctic and Pacific Oceans.

U.S. crude inventories likely fell for a fourth straight week, while refined product stockpiles were seen up last week, a preliminary Reuters poll on Monday showed. [EIA/S]

Industry group, the American Petroleum Institute (API), is scheduled to release inventory data for the week to April 28 at 4:30 p.m. EDT (2030 GMT) on Tuesday.

SOURCTOKYO - Oil prices edged down on Tuesday, as a recovery in Libyan output and rising U.S. supplies raised worries that OPEC-led production cuts may not significantly tighten a bloated market.

Oil has been weighed down by the market's impatience with the slow pace of inventory drawdown globally, even after major oil producers agreed to cut production by 1.8 million barrels per day for the first half of 2017.

London Brent crude for July delivery was down 7 cents, or 0.1 percent, at $51.45 by 0021 GMT, after settling down 53 cents on Monday. Brent crude has risen only around $1 from a one-month low of $50.45 hit on Thursday that came after the restart of two key Libyan oilfields.

NYMEX crude for June delivery was down 10 cents, or 0.2 percent, at $48.74.

Libya's National Oil Company said production has risen above 760,000 bpd to its highest since December 2014, with plans to keep boosting production.

The Organization of the Petroleum Exporting Countries and participating non-OPEC countries meet on May 25 to discuss whether to extend that reduction.

U.S. drillers added nine oil rigs last week, bringing the count to the most since April 2015, energy services company Baker Hughes said on Friday. Crude output in the United States is at its highest since August 2015. [RIG/U]

U.S. Interior Secretary Ryan Zinke on Monday signed an order directing the government to issue a new five-year plan for development on the U.S. Outer Continental Shelf to implement President Donald Trump's directive to review drilling bans in parts of the Atlantic, Arctic and Pacific Oceans.

U.S. crude inventories likely fell for a fourth straight week, while refined product stockpiles were seen up last week, a preliminary Reuters poll on Monday showed. [EIA/S]

Industry group, the American Petroleum Institute (API), is scheduled to release inventory data for the week to April 28 at 4:30 p.m. EDT (2030 GMT) on Tuesday.

Source; Indian Petroplus

Indian Register of Shipping expands operations in India after strengthening global footprint

SINGAPORE: Indian Register of Shipping, a Mumbai-based globally recognised ship classification society has started its next phase of expansion in India after strengthening its footprint in major maritime centres abroad.

"We are working with Inland Waterway Transportation Authority (IWTA) on a number of projects which include Liquefied Natural Gas (LNG) fuelled vessels and fuelling stations within the National Waterway 1 project on Ganga," said Arun Sharma, Executive Chairman of Indian Register of Shipping (IR Class) at the Sea Asia 2017, a premier maritime conference yesterday.

For India, it has drafted guidelines for operation of LNG vessels and is working out a number of programmes to support development of port-related facilities.

IR Class also has a Memorandum of Understanding (MoU) with Bureau Veritas for tapping into their LNG expertise for LNG-fuelled vessels which will be increasingly used within ports in the country.

"This puts IR Class in new businesses relating to LNG," said Sharma, highlighting the mega developments being planned along the waterways and main coastal areas.

India has planned out 12 major ports and 400 minor ports, where IR Class services will be required in certifying facilities such as oil terminals, bunkering, cargo transfers and cranes operations among others.

IR Class is also working with the Shipping Ministry to set up a Centre of Excellence which will develop skill for the marine industry, shipbuilding, ship designs and other related services.

IR Class has increased its services in classifying ship breaking yards in India and Bangladesh.

These yards are certified in their practices to meet European standards and account for 75 per cent of the world's ship breaking industry, said Sharma.

IR Class is also doing monitoring, reporting and verification of Carbon dioxide emission from vessels based on standards required in the European Union.

Sharma said, IR Class has expanded its global footprint with 48 offices, 24 of which are outside India.

It has just opened an office in Kuala Lumpur, and will set up offices in Indonesia and the Philippines in due course.

Sharma said the 40-year old IR Class will stay focus on niche businesses covering small vessels, shipping business and facilities.

Source: Indian Petroplus