NTPC may pitch in to solve power crisis
A proposal on generating 175 MW of solar power at the NTPC Kayamkulam unit will be discussed by the Kerala State Electricity Board (KSEB) with the officials of the Central-public sector unit this week. The NTPC had submitted the proposal to the KSEB last month. A key issue pertaining to scarcity of power in the State can be resolved if the talks succeed. Speculations on the future of the Central PSU at Kayamkulam could also be set at rest if the project materialises, sources in the industry said. The NTPC has demonstrated its capability to produce solar power on the premises of the thermal power plant at Kayamkulam. A floating solar power plant of 100 kWp, the largest of its kind in the country, was commissioned last month. Apart from the floating solar plant, the public sector company is producing power from rooftop solar project there. The cost of solar power generation has come down drastically on account of modern technology. The rates of solar power generated at the Kayamkulam unit could be competitive, said NTPC unit General Manager Kunal Gupta. The rates could be around Rs. 3.50 per unit. The KSEB had avoided NTPC Kayamkulam for its daily power needs due to higher production cost owing to the high prices of the feedstock naphtha. With the solar power rates reaching a competitive level, the prospects are considered bright for signing a power purchase agreement between the KSEB and the NTPC. The NTPC offer for producing 175 MW could be considered a viable alternative to the proposal on the Athirappilly hydel project, mired in controversy. Antonio Gates Womens Jersey
Aramco seeks stake in India’s biggest proposed refinery
Saudi Arabia based and the world’s largest oil producer Saudi Aramco, is interested in taking a stake in India’s biggest oil refinery, planned to be set up on the west coast in Maharashtra. The 60 million metric tons per annum refinery has been mooted by Hindustan Petroleum Corporation (HPCL), Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL). “Saudi Aramco is interested in picking a stake in the west coast refinery while Abu Dhabi National Oil Co (ADNOC) is keen on investing in petrochemical projects,” media reports quoted union oil minister Dharmendra Pradhan as saying on the sidelines of the Global Natural Resources Conclave. IOC holds a 50 per cent stake in the refinery, while BPCL and HPCL will have a stake of 25 per cent each, which is estimated to cost Rs 1800 billion and will also house a mega petrochemical complex. The project will be set up in two phase of which phase one will have a 40 million metric tons per year refinery, an aromatic complex, naphtha cracker unit and a polymer complex and will cost around Rs 1200-1500 billion. The second phase will have a 20 metric tons per annum refinery and will cost around Rs 500-600 billion. (AR) Denis Potvin Authentic Jersey
India’s oil imports from Iran top 500000 bpd in 2016/17
India’s Iran oil imports jumped to a record high in 2016/17 topping half-a-million barrels per day as refiners boosted purchases after lifting of sanctions previous year. Refiners shipped in about 541,000 bpd of Iranian oil in the 2016-17 financial year, a growth of about 115 per cent over the previous year. Iran was India’s second biggest oil supplier – a position now belonging to Iraq – before economic sanctions aimed at Iran’s nuclear programme hampered its trade relations, forcing the South Asian nation to tap alternative suppliers. Reliance Industries, Hindustan Petroleum, Bharat Petroleum and HPCL-Mittal Energy Ltd (HMEL) were among Indian refiners that resumed imports from Tehran following the removal of anti-Tehran sanctions. India’s two largest crude oil importers from Tehran will cut their import from five million to four million tonnes in 2017-2018, reported the Indian Express, in an attempt to put pressure on Tehran to award the rights to develop the 12.5 trillion cubic feet discovery to the Indian state owned oil and gas company ONGC Videsh Ltd (OVL). National Iranian Oil Co. will cut the credit period on crude oil sales to 60 days from 90 days for refiners such as Mangalore Refinery & Petrochemicals Ltd. and Indian Oil Corp., the people said, asking not be identified as the matter isn’t public yet. International Olympic Committee and MRPL – largest state buyers of Iranian crude – will cut imports from Tehran to 4 million tonnes in 2017-18 from 5 million tonnes in the previous year. While the European Union and United Nations lifted sanctions on Iran over its nuclear programme more than a year ago, the United States has held separate measures in place and President Donald Trump’s administration has promised a tough line. Overall, India’s oil imports rose 4.7 percent in March from the previous month and by about 4.9 percent from a year ago, the report added. India is Iran’s second-biggest customer and the emerging center of global oil demand. Oil market sources say Iran has sold all the oil it had stored at sea for years – a sign of the country’s positive performance in marketing its vital crude oil supplies. The Organization of the Petroleum Exporting Countries pledged to reduce output by about 1.2 million bpd, but Iran was allowed a small increase to compensate for years of isolation. Iran’s Oil Minister Bijan Namdar Zanganeh said “there are many other customers” if India decides to cut imports, the state-run Islamic Republic News Agency reported on April 5. Iran and India were aiming to conclude an agreement on developing the field by February. Richard Mallinson, analyst for Energy Aspects, believes it is nearly inevitable that exports will now decline: “We do think that (floating storage) has been the primary cause of the boost in exports; we see a very hard path for Iran to raise crude output until it can get the Western expertise and investment back into the upstream, which has been notably slow to materialize”. “Their proposal was not profitable to Iran“. OVL has submitted a revised master development plan of over Dollars 5 billion for developing the field. Chad Thomas Jersey