Nine companies prequalify for oil and gas exploration in Lebanon
The deadline for the second prequalification round for oil and gas exploration has expired. Nine new companies have now applied to partake in the first licensing round, according to the Ministry of Energy and Water (MoEW). The companies are ONGC Videsh Limited (India), PJSC Lukoil (Russia), Sapurakencana Energy SDN BHD (Malaysia), Sonatrach International Petroleum Exploration and Production Corporation (Algeria), Qatar Petroleum International Limited, Advanced Energy Systems (ADES) SAE (Egypt), Petropars Ltd (Iran)., JSC Novatek (Russia), and Vega Petroleum Limited (Egypt) jointly with both Edgo Energy Limited (Jordan) and Petroleb (Lebanon). The ministry said that the 14 companies that in 2013 had previously applied for the first prequalification round have now updated their files, providing the needed information regarding any changes which could impact their prequalification. This includes audited financial statements for the years 2014 and 2015, and unaudited statements for 2016. The Lebanese Petroleum Administration (LPA) is now in the process of contacting the rest of the companies that participated in the first prequalification round for their files to be updated. A total of 46 companies were accepted in the first prequalification round. But the process was halted after the government failed to ratify two decrees pertaining to the delineation of maritime blocks and contracts pertaining to exploration and production. Blocks one, four, eight, nine and ten are up for bidding in the first licensing round. According to the ministry, the criteria adopted for qualifying companies remain unchanged. The companies are divided into four main areas: Legal, technical, financial and environmental. Participating companies should be joint stock companies, and should have expertise relating to oil and gas exploration in water depths of more than 500 meters, as well as having previously produced petroleum. They must also have a minimum capital of $10 billion. The results of the second prequalification round will be announced on April 13 this year. Tim Schaller Jersey
NTPC joins global league with 50,000plus MW capacity, straddles all segments of generation biz
India’s largest power producer NTPC has switched on its first wind power project to mark its presence in nearly all segments of generation business, except nuclear power. The feat comes within days of the state-run company joining the global league by crossing the 50,000-MW generation capacity on March 31st, 2017. As a group, NTPC’s total capacity now stands at 50,750 MW. The state-run generator forayed into the wind segment by commissioning a turbine of 2 MW at the 50-MW Rojmal wind project in Gujarat on Monday. The company added 13,395 MW during the 12th plan, exceeding the capacity addition target of 11,920 MW. Some 3,520 MW of new capacity was added in 2016-17, including 510 MW of new solar capacity. The company has also started production from its first captive coal mine at Pakri Barwadih in Jharkhand to become an integrated coal-based power producer. Simultaneously with the expansion of its coal-fired generation capacity, NTPC has been steadily ramping up its renewable portfolio too. In 2016-17, the company’s Koldam Hydel Station in Himachal Pradesh achieved its highest-ever generation of 3.225 billion units. Its solar stations also achieved their highest-ever generation at 527 million units. NTPC’s standalone generation crossed 250 billion units and Group generation topped 276 Billion units in 2016-17. NTPC’s coal-based stations achieved a plant load factor of 78.6% against a national average of roughly 6%. Justin Blackmon Authentic Jersey
OVL to invest over $3b in Iran gas block; submits revised plan
National oil & gas explorer ONGC is planning to invest over $3 billion in the Farzad-B natural gas block in Iran, a top company official said today. The proposed investment will be driven through a consortium of state-run oil companies led by its overseas arm ONGC Videsh (OVL). The statement comes amidst media reports that government is threatening to massively reduce crude intake from Iran as Tehran delays clearing the investment plan in the block. An OVL-led consortium had already submitted a $3 billion development plan to Iran to develop an offshore field in Farzad B, which is said to hold 12.5 trillion cubic feet in reserves, which may last for 30 years. Iran has been delaying New Delhi’s proposal after the US-led western nations lifted the economic embargo on Tehran last year opening its doors to more competitive options, which Tehran wants to explore now. “Last month, we submitted a revised plan to Tehran for the block. We will be able to develop the block within five years if we are given the go-ahead,” OVL managing director NK Verma told reporters on the sidelines of an industry meeting here. “We are keen to invest north of $3 billion to develop this field,” he said adding they are awaiting feedback from Tehran now. It can be noted that New Delhi was one of the few large oil consumers to have continued buying Iranian crude during the global economic sanctions over Tehran’s nuclear programme. But since the lifting of the sanctions last year, Iran has sought other investors and there is some uncertainty whether new Delhi would get the Farzad block contract. Output from Farzad-B could range from 1 billion to 1.6 billion cubic feet of natural gas per day, Verma said. On its production target, Verma said the company expects to raise production in fiscal 2018 to 14 million tonne oil equivalent, up from 12 million tonne in fiscal 2017. He also said the company is planning to invest $45 million to produce from gas wells owned by Imperial Energy, which was acquired by OVL in 2008. As part of its plans to secure energy resources, government has chalked out an investment plan worth $20 billion in Iran, which will include developing oil and gas fields apart from setting up petrochemical plants, gas-processing facilities and developing the strategic Chabahar port in Southern Iran. Earlier this week, media reports said the government would massively reduce its Iranian oil purchases by a fifth over the delay in clearing the investment in the gas field. For Iran, India is the biggest oil buyer after China. Unhappy with Tehran’s delays, the oil ministry has reportedly asked state refiners to cut imports from Iran. The state-run refiners reportedly told National Iranian Oil Co about their plans to reduce oil imports by a fifth to 1,90,000 bpd from 2,40,000 bpd. Between April 2016 and February 2017, the domestic oil companies more than doubled their intake from Iran at 5,42,400 bpd, compared to 2,25,522 bpd a year earlier. John Timu Jersey
RIL gets green nod for Rs 13,250 crore Dahej unit expansion project
Reliance Industries Ltd (RIL) has received environment clearance for expansion and debottlenecking of its Dahej petrochemical facility in Gujarat at a cost of Rs 13,250 crore. The Mukesh Ambani-led firm wants to expand its Dahej facility located in Bharuch district in view of erratic supply of feed stock, change in the government’s policy to prioritise domestic supply over industrial sector, adequate supply of Shale gas ethane from the US, besides meeting demand-supply gap of petrochemicals in India. “Based on the recommendations of the Expert Appraisal Committee (Industry), the Environment Ministry has given the environmental clearance for RIL’s expansion project yesterday,” a senior government official said. The green nod to the proposed project, which will be carried out within the existing plant area of 700 hectare, is subject to some conditions, the official said. The estimated cost of the project is Rs 13,250 crore. A budget of Rs 400 crore will be kept aside for environment protection and conservation. The fuel used for the proposed project would largely be ethane, lean gas and off gas. The power required for the project will be met from the existing captive power plant. As per the proposal, RIL Dahej facility presently utilises a mixture of ethane and propane to produce downstream products and by-products. Dahej facility proposes to modify its feedstock ratio of ethane and propane in the gas cracker plant owing to the availability of shale gas ethane imported from the US. This change in feedstock mixture will result in higher production of ethylene. The RIL’s proposal also include setting up of new plants including Chlorinated Poly Vinyl Chloride (CPVC), Vinyl Chloride Monomer (VCM), Poly Vinyl Chloride (PVC) and a dedicated Ethane storage tank. Brett Hundley Authentic Jersey
Shell to fuel world’s first LNG-powered Aframax oil tankers
A unit of Royal Dutch Shell will fuel the world’s first LNG-powered Aframax crude oil tankers under a deal signed with Russian shipping company SCF Group (Sovcomflot). Shippers are looking to liquefied natural gas (LNG) to help them meet stricter emissions regulations in 2020. Oil tankers are “another marine segment embracing the benefits of LNG fuel”, Maarten Wetselaar, Shell’s integrated gas and new energies director, said in an announcement released on Monday. Shell subsidiary Shell Western LNG will supply four Aframax tankers operating in the Baltic Sea and northern Europe from a bunkering vessel that will load at the Gate terminal in Rotterdam and a second supply point in the Baltics. The dual-fuelled tankers are scheduled to begin operations at the start of the third quarter of 2018. Ship owners and operators face tougher regulations on marine fuel, also known as bunker fuel, in 2020. Under International Maritime Organization (IMO) requirements set in October, the cap on sulphur emissions from vessels will fall to 0.5 percent by 2020 from the current 3.5 percent. In order to comply, shippers can burn lower-sulphur, but more expensive, middle distillates, install “scrubbers” that enable them to burn dirtier fuel, or invest in ships powered by LNG. LNG has virtually no sulphur content, while producing low nitrogen oxides compared to industry standard fuel oil and marine gasoil. Jimmie Ward Authentic Jersey
BJP alleges “power scam” worth crores in Uttarakhand
The Uttarakhand BJP today alleged that the previous Harish Rawat led Congress government had “favoured” some gas based plants while entering into power purchase agreements which had led to a hike in electricity tariff in the state. “The previous government struck a deal with gas based power plants in Kashipur to purchase power from them for 35 years at the rate of Rs 4.70 per unit at a time when its rate should have been just Rs 2.74 per unit, causing a loss of Rs 50 crore per month to the state exchequer,” state BJP spokesman Vinay Goel told reporters here. It is a “power scam” worth at least a thousand crore rupees, he said. Goel claimed that the recent hike in power tariff in Uttarakhand was necessitated by the need to compensate the losses caused to the state exchequer by the deal inked between Harish Rawat government and the gas based power plants in Kashipur. Attacking the rival party, he said that its leaders had no moral right to create a fuss over the hike as “it was a result of the misdeeds of its own government”. The spokesperson said that he has drawn the attention of Chief Minister Trivendra Singh Rawat to the huge scam in power purchase who has promised that no one who is guilty would be spared. The Uttarakhand Electricity Regulation Commission had recently effected a 5.72 per cent hike in power rates evoking sharp reaction from opposition Congress which had criticised it saying that it would increase the burden on the common people. Chris Conner Womens Jersey
New industrial policy for UP soon: Power Minister
The Uttar Pradesh government on Tuesday announced that the state would soon get a new industrial policy. “A Group of Ministers, with five ministers as its members, has been constituted. It would visit various states in the country to help the government to form a new industrial policy,” Power Minister Srikant Sharma said at a press conference here. He said a committee has also been constituted to look into issues related to potato growers in the state. Talking about crime, Sharma said the government has been following “zero tolerance” against crime and will continue with the same policy in the future too. Sharma, along with state Home Minister Sidharth Nath Singh, was addressing the media after the first cabinet meeting of the newly formed government in Uttar Pradesh. Tom Savage Authentic Jersey