Global Crude oil price of Indian Basket was US$ 38.13 per bbl on 21.03.2016

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Global Crude oil price of Indian Basket was US$ 38.13 per bbl on 21.03.2016

The international crude oil price of Indian Basket as computed/published today by Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas was US$ 38.13 per barrel (bbl) on 21.03.2016. This was lower than the price of US$ 38.57 per bbl on previous publishing day of 18.03.2016.

In rupee terms, the price of Indian Basket decreased to Rs 2535.91 per bbl on 21.03.2016 as compared to Rs 2568.88 per bbl on 18.03.2016. Rupee closed stronger at Rs 66.50 per US$ on 21.03.2016 as against Rs 66.61 per US$ on 18.03.2016. The table below gives details in this regard:

Particulars    
Unit
Price on March 21, 2016
(Previous trading day i.e. 18.03.2016)                                                                  
Pricing Fortnight for 16.03.2016
(26 Feb to 11 Mar, 2016)
Crude Oil (Indian Basket)
($/bbl)
              38.13             (38.57)              
34.82
(Rs/bbl
          2535.91         (2568.88)       
2356.62
Exchange Rate
  (Rs/$)
              66.50             (66.61)
67.68


         Daily Crude Oil Price- 22.03.2016  

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A P Shah Committee’s tenure extended till 31st July, 2016
The tenure of A P Shah Committee looking into the dispute between ONGC and RIL regarding blocks in KG basin has been extended till 31st July, 2016. The One man committee comprising of Sh A.P.Shah, former chief Justice of Delhi High Court was constituted on 15th December, 2015. It was to submit its report in three months. The tenure is being extended on the request of the Committee. The terms and conditions will remain the same. 

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Petroleum & Natural Gas Minister takes stock of preparedness of implementation of PradhanMantri Ujjwala Yoajna
The Minister of State for Petroleum & Natural Gas (I/C) Shri Dharmendra Pradhan today held a meeting through Video Conferencing with the Officers of State level Units of Oil Marketing Companies (OMCs) regarding the preparedness for the launch of PradhanMantri Ujjwala Yojana. Under the Scheme, 5 crore women beneficiaries belonging to BPL families will be provided with free LPG connections in next three years. 1.5 crore connections would be provided in 2016-17.

Speaking to the officers, the Minister said that the scheme is an opportunity to do something for the poor of the country and there should be wholehearted participation of OMCs in it. He said that detailed guidelines for the scheme will be issued soon. The Minister said that identification of the BPL beneficiaries will be based on the socio-economic caste census, which is a scientific list, agreed upon by both the States and the Centre. He said OMCs must appoint Nodal Officers for the scheme at the State and district levels. He also urged the management of OMCs to appoint women officers who will spearhead the implementation of the scheme. There would be regular monitoring of the scheme at his level so that the targets are achieved in a time bound manner. Focus of the scheme will be on priority States where LPG penetration is below the national average.

Shri Pradhan said that OMCs must be ready with the infrastructure and setup to implement the scheme in an effective manner. He said that besides 5 crores BPL connections, 5 crore non-BPL families will also have to be provided LPG connections in next three years. He said that the Companies must appoint new Gas Distributors immediately to cope up with the demand of LPG connections to the poor.

The Minister said that there should be a focused approach for the scheme. He said that BPL families belong to the bottom of the pyramid and this being one of the Government’s major welfare initiative for them, there should not be any shortcoming in delivery of services.
During the course of the video conference, OMC officers from 13 states participated in the discussion. 

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Import dependence in Oil & Gas will be reduced by 10%, says the Petroleum Minister; Government taking steps to boost gas exploration and production
The Minister of State (Independent Charge) for Petroleum & Natural Gas Shri Dharmendra Pradhan has expressed the confidence that the target of 10% reduction in import dependence in Oil & Gas will be achieved by 2022. Speaking at a function on Natural Gas Conclave in New Delhi today, he said that natural gas will play a major role in achieving this target. Shri Pradhan said that the Government has already taken a number of policy initiatives in the sector which would unlock a large quantity of hydrocarbons.

The Minister said that India is a growth story, its energy consumption is increasing and without energy security, there can be no development. He said gas is the future fuel and India is taking steps to boost exploration and production. He said the Government is working with Public Sector Oil Companies to bring in Start-Up Fund for oil & gas industry which would further boost the innovative ideas in the sector.

Shri Dharmendra Pradhan said that the country is committed to reduce the carbon footprint by 30-35% by the year 2030. In this regard, the Government is promoting the use of clean fuel like natural gas. He said the sector has to be developed through participation by all these stakeholders. He called upon PNGRB to play a lead role in the expansion of gas network in the country. The Minister said the Government is committed to the balanced growth and for this purpose new pipelines are being laid in the Eastern India which will boost the availability of gas in the under-developed parts of the country.
Speaking on the occasion, Secretary, (Petroleum & Natural Gas) Shri K.D. Tripathi said India’s economy is growing and there are ample opportunities to be seized. He called upon all these Stakeholders to contribute and ensure sustainable gas at a affordable rates.

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Production Performance of Oil & Natural Gas Sector for the month of February, 2016
1.         Crude Oil Production
1.1       Indigenous crude oil production (including condensate) during February, 2016 was 2896.67 TMT which is 3.37% lower than the target for the month and 0.75% higherthan the production during corresponding period of last year. Cumulative crude oil production during April, 2015-February, 2016 was 33887.63 TMT which is 0.17% higher than target for the period and 1.01% lower than the production during corresponding period of last year. Unit-wise and state-wise crude oil production is given at Annexure-I. Unit-wise crude oil production (including condensate) for the month of February, 2016 and cumulatively for the period April, 2015-February, 2016 vis-à-vis same period of last year has been shown in Table-1.1 and month-wise in Figure-1.1
Table 1.1: Crude Oil Production (TMT)
Oil Company
Target
February (Month)
April-February (Cumulative)
2015-16 (Apr-Mar)
2015-16
2014-15
% over last year
2015-16
2014-15
% over last year
Target
Prod.
Prod.
Target
Prod.
Prod.
ONGC
22732.00
1853.67
1780.73
1705.91
104.39
20741.72
20497.88
20314.95
100.90
OIL
3595.00
292.99
246.21
255.44
96.39
3278.72
2957.19
3122.87
94.69
PSC Fields
10718.74
851.07
869.73
913.69
95.19
9808.98
10432.56
10796.55
96.63
Total
37045.74
2997.72
2896.67
2875.04
100.75
33829.42
33887.63
34234.36
98.99


Figure-1: Monthly Crude Oil Production

1.2       ONGC’s crude oil production during February, 2016 was 1780.73 TMT which is 3.93% lower than the target for the month and 4.39%higher than the production achieved in the corresponding month of last year. ONGC’s cumulative production during April, 2015-February, 2016 was 20497.88 TMT which is 1.18% lower than the cumulative target and 0.90% higher than the production during the corresponding period of last year. The shortfall in ONGC’s production was due to following reason:
Ø  Gujarat, Mehsana: Less air injection in Santhal field, increase in water cut and power shut down.
Ø  Gujarat, Ahmedabad: Delayed / less gain from Gamij field. Power shutdown & lift optimization.
Ø  Gujarat, Cambay: Less than envisaged production from Vadatal-1, NELP field due to increase in water cut to around 80%.
Ø  Assam: Low gas injection pressure, power shutdown & closure of wells.
Ø  Tamilnadu, Karaikal: Less than anticipated production from Madanam field & closure of wells due to less / nil off-take by consumers.
Ø  Mumbai High: Delay in commencement of production from B127 cluster. Less production from Cluster-7 & WO-16 cluster.

1.3       OIL’s crude oil production during February, 2016 was 246.21 TMT which is 15.96% lower than the target for the month and 3.61% lower than the production achieved in the corresponding month of last year. OIL’s cumulative production during April, 2015-February, 2016 was 2957.19 TMT which is 9.81% lower than the cumulative target and 5.31% lower than the production during the corresponding period of last year. Reasons for shortfall in production are given below:
Ø  Rise in water cut in wells in Salmari, Dikom, Greater Chandmari and Greater Hapjan Fields
Ø  Permanent loss at Makum & Hapjan OCS
Ø  Temporary cessation of flow at well Makum No.48
Ø  Loss of production due to Assam bandh.
Ø  Miscreant activities in a number of wells affected gas lift operation leading to crude oil production loss.

1.4       Pvt. /JVs’ crude oil production during February, 2016 was 869.73 TMT which is 2.19% higher than the target for the month and 4.81%lower than production of corresponding month of last year. Pvt./JVs’ cumulative production during April, 2015-February, 2016 was 10432.56 TMT which is 6.36% higher than the cumulative target and 3.37% lower than the production during the corresponding period of last year. Reasons for shortfall in production are given below:
Ø  Cairn: Natural decline in Ravva, Mangala and underperformance of Bhagyam wells in RJ-ON-90/1.
Ø  RIL: Under performance of wells in KG-D6.
Ø  GSPC: Well completion issues in KG-OSN-2001/3.
Ø  M&S Tapti field proposed for abandonment.
Ø  GEOENPRO: Sand ingress in Kharsang.

2.         Natural Gas Production
2.1       Natural Gas Production during February, 2016 was 2565.01 MMSCM which is 9.83% lower than the target for the month and 1.24% higher than the production during corresponding period of last year. Cumulative natural gas production during April, 2015-February, 2016 was 29709.55 MMSCM which is 7.83% lower than the target for the period and 3.60% lower than the production during corresponding period of last year. Unit-wise and state-wise natural gas production is given at Annexure-II. Unit-wise natural gas production for the month of February, 2016 and cumulatively for the period April, 2015-February, 2016 vis-à-vis same period of last year has been shown in Table-2.1 and month-wise in Figure-2.1.

Table 2.1: Natural Gas Production (MMSCM)
Oil Company
Target
February (Month)
April-February (Cumulative)
2015-16 (Apr-Mar)
2015-16
2014-15
% over last year
2015-16
2014-15
% over last year
Target
Prod.
Prod.
Target
Prod.
Prod.
ONGC
23908.00
1955.41
1730.87
1657.07
104.45
21816.84
19533.88
20152.46
96.93
OIL
3009.97
234.79
218.48
202.29
108.00
2754.36
2584.26
2490.14
103.78
PSC Fields
8361.91
654.42
615.66
674.17
91.32
7662.36
7591.42
8176.59
92.84
Total
35279.88
2844.62
2565.01
2533.53
101.24
32233.56
29709.55
30819.19
96.40


Figure-2.1: Monthly Natural Gas Production

2.2       ONGC’s natural gas production during February, 2016 was 1730.87MMSCM which is 11.48% lower than the target for the month and 4.45% higher than the production achieved in the corresponding month of last year. ONGC’s cumulative natural gas production during April, 2015-February, 2016 was 19533.88MMSCM which is 10.46% lower than the cumulative target and3.07% lower than the production during the corresponding period of last year. Reasons for the shortfall are given below:
Ø  Eastern Offshore: Delay in commencement of production from one deep water well (S2AB) planned from June’15 and restricted withdrawal by GAIL.
Ø  Bassein & Satellite: Consequential losses post BPA shutdown as the wells are yet to achieve original potential. Less than expected production from new development/side track wells and decline in Bassein field.
Ø  Mumbai High: Delay in commencement of production from B127 cluster.
Ø  Gujarat:Closure of wells due to unplanned shut down of GAIL Gas line from Ahmedabad/Kalol to Ramol. Decline in associated gas production from Jhalora South Kadi & Gamji fields.
Ø  Andhra Pradesh:Closure of 36 wells as GAIL pipelines in Tatipaka-Lanco & Endamaru-Oduru sections still under repair.
Ø  Tamil-Nadu: Closure of wells due to less off-take by consumers in Ramnad / Kovilkallapal area in Karaikal.
Ø  Assam: Decline in associated gas production in Geleki, Lakwa & Rudrasagar fields.
Ø  Tripura: Less off take by OTPC, Baramura TSECL & NEEPCO Monarchak, etc.

2.3       OIL’s natural gas production during February, 2016 was 218.48MMSCM which is 6.95% lower than the target for the month and 8.00%higher than the production achieved in the corresponding month of last year. OIL’s cumulative natural gas production during April, 2015-February, 2016 was 2584.26 MMSCM which is 6.18% lower than the cumulative target and 3.78% higher than the production during the corresponding period of last year. Reasons for the shortfall are given below:
Ø  Lower upliftment by the consumers like BCPL and BVFCL.
           
2.4       Pvt. /JVs’ natural gas production during February, 2016 was 615.66MMSCM which is 5.92% lower than the target for the month and 8.68% lower than the production achieved in the corresponding month of last year. Pvt. /JV’s cumulative natural gas production during April, 2015-February, 2016 was 7591.42 MMSCM which is 0.93% lower than the cumulative target and 7.16% lower than the production during the corresponding period of last year. Reasons for the shortfall are given below:
Ø  RIL (KG-D6):Underperformance of wells due to sand ingress and water loading.
Ø  GSPC: Well completion issues in KG-OSN-2001/3
Ø  Other operators: Natural Decline in Gas production of Ravva, Panna-Mukta, PY-1 and Hazira. Operator proposed for M&S Tapti’s field abandonment.Less off-take by GAIL from RJ-ON/6. Delay in start of production in PY-3
Ø  CBM: De-watering issues in CBM-blocks of Raniganj East, Raniganj South and Sohagpur West.



3.         Refinery Production (in terms of Crude oil processed)

3.1       Refinery production during February, 2016 was 19001.29TMT which is 4.03% higher than the target for the month and 8.05% higher than the productionduring corresponding period of last year. Cumulative production during April, 2015-February, 2016 was 210168.73 TMT which is 2.39% higher than the target for the period and 3.05% higher than the production during corresponding period of last year. Unit-wise production is given at Annexure-III. Unit-wise production for the month of February, 2016 and cumulatively for the period April, 2015-February, 2016 vis-à-vis same period of last year has been shown in Table-3.1 and month-wise in Figure-3.1.

Table 3.1: Refinery Production (TMT)
Oil Company
Target
February (Month)
April-February (Cumulative)
2015-16 (Apr-Mar)
2015-16
2014-15
% over last year
2015-16
2014-15
% over last year
Target
Actual
Actual
Target
Actual
Actual
IOCL
54999.99
4442.45
4634.72
4169.53
111.16
50163.28
51193.45
48871.18
104.75
BPCL
23197.00
1833.00
1991.94
1873.12
106.34
21220.00
21985.16
21086.22
104.26
HPCL
16199.88
1345.11
1478.51
1361.21
108.62
14761.83
15618.20
14626.99
106.78
CPCL
10800.10
885.88
922.29
838.27
110.02
9851.64
8684.79
9848.95
88.18
NRL
2700.00
223.00
203.01
216.38
93.82
2460.00
2284.12
2592.87
88.09
MRPL
15250.00
1300.00
1325.63
1193.97
111.03
13800.00
13997.16
13146.30
106.47
ONGC
60.88
5.08
7.19
4.15
173.18
55.54
59.67
46.33
128.77
BORL
5200.00
500.00
502.20
465.27
107.94
4700.00
5763.87
5687.13
101.35
HMEL
9000.00
713.11
699.60
538.38
129.94
8237.70
9776.75
6400.06
152.76
RIL
68041.55
5326.66
5566.21
5326.66
104.50
62901.96
63476.14
62901.96
100.91
EOL
18792.76
1690.90
1669.99
1598.31
104.48
17101.86
17329.43
18737.35
92.49
TOTAL
224242.16
18265.20
19001.29
17585.24
108.05
205253.82
210168.73
203945.34
103.05


Figure 3.1: Monthly Refinery Production (TMT)



3.2       PSU Refineries’ production during February, 2016 was 10563.29TMT which is 5.27% higher than the target for the month and 9.39% higher than the production achieved in the corresponding month of last year. Cumulative production of PSUs during April, 2015-February, 2016 was 1113822.54 TMT which is 1.34% higher than the cumulative target and3.27% higher than the production during the corresponding period of last year. Reasons for shortfalls in PSU refineries are given below:
v  IOCL, Digboi: Throughput restricted due to high intermediate stock built-up.
v  IOCL, Guwahati: Deferment of planned shutdown.
v  NRL, Numaligarh:Restricted throughput due to lower availability of Assam crude.
3.3       Production in JV refineries during February, 2016 was 1201.80TMT which is 0.93% lower than the target for the month and 19.74% higher than the production achieved in the corresponding month of last year. Cumulative production in JV refineries during April, 2015-February, 2016 was 15540.61 TMT which is 20.12% higher than the cumulative target and28.57% higher than the production during the corresponding period of last year. Reasons for shortfalls in JV refineries are given below:
v  HMEL, Bhatinda: Planned shutdown of DHDT unit.
3.4       Production in private refineries during February, 2016 was 7236.20TMT which is 3.12% higher than the target for the month and 4.49% higher than the production achieved in the corresponding month of last year. Cumulative production in private refineries during April, 2015-February, 2016 was 80805.57 TMT which is1.00% higher than the cumulative target and1.02% lower than the production during the corresponding period of last year.
3.5       Refinery-wise details of the capacity utilization and Production of petroleum products during the month of February, 2016 and cumulatively for the period April, 2015-February, 2016 vis-à-vis April, 2014-February, 2015 are given at Annexures-IV and V respectively.

 

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