Domestic Crude Oil Production Down 3.70% In August 2018
India’s Crude oil production during August, 2018 was 2908.12 TMT which is 6.47% lower than target and 3.70% lower when compared with August, 2017. Cumulative crude oil production during April-August, 2018 was 14611.53 TMT which is 3.55% lower than target for the period and 3.27% lower than production during corresponding period of last year. Natural gas production during August, 2018 was 2789.34 MMSCM which is 8.10% lower than the target for the month but 0.59% higher when compared with August, 2017. Cumulative natural gas production during April-August, 2018 was 13571.68 MMSCM which is 7.77% lower than target for the period and 0.86% lower than the production during corresponding period of last year. Steve McLendon Authentic Jersey
Oil prices could rise to $100 a barrel by 2019, warn merchants
Oil prices could rise towards $100 per barrel by 2019 as US sanctions against Iran tighten markets, commodity merchants Trafigura and Mercuria said on Monday at the annual Asia Pacific Petroleum Conference (APPEC) in Singapore. Almost 2 million barrels per day (bpd) of crude could be taken out of the market as a result of the US sanctions against Iran by the end of the fourth quarter this year, said Daniel Jaeggi, president of commodity merchant Mercuria Energy Trading, making a crude price spike to $100 a barrel possible. Ben Luckock, co-head of oil trading at fellow merchant Trafigura said crude oil prices could rise to $90 per barrel by Christmas and to $100 by the New Year as markets tighten. Yasmani Grandal Jersey
World oil demand, refining growth to peak in 2035: Unipec
World oil demand will peak at 104.4 million barrels per day (bpd) in the mid-2030s, up from just below 100 million bpd currently, as new technologies gradually eat into oil use, China’s Unipec said on Monday. Improved energy efficiency and technological changes, including the rise of renewables, meant global oil demand growth would slow in coming years before peaking in 2035, Unipec President Chen Bo told the annual Asia Pacific Petroleum Conference (APPEC). This in turn will slow growth in global oil refining capacity, which is set to hit 5.6 billion tonnes per year in 2035, he said. “We believe 2018-2035 will be the last cycle of global refining capacity expansion. After 2035, it is difficult to see large-scale refining projects in construction, except for some small upgrade projects and petrochemical projects,” said Chen. Unipec is the trading arm of Asia’s largest refiner Sinopec . The switch to cleaner fuels will also boost global demand for liquefied natural gas (LNG), particularly in the Asia Pacific, after 2025, he added. CHINA CRUDE SUPPLIES An escalating trade war between China, the largest energy importer, and the United States has dampened the Asian nation’s demand for U.S. crude oil and LNG. The United States exported 300,000 barrels per day (bpd) of crude oil to China in the first half of 2018, and 56 cargoes of LNG through July, or roughly 10 percent of its total LNG exports, according to official data. Despite the trade dispute, Chen said U.S. crude supply was an important new source for Chinese refiners as it allowed diversification from Middle East and African crudes. Trade war tensions between the two countries would last “for the time being, and in the future we’ll be active in this area,” he added. Beijing has excluded U.S. crude imports from its tariffs list so far, but most Chinese buyers are staying away from U.S. oil as the trade war shows no signs of cooling. Unipec resumed loading U.S. crude in September after a two-month hiatus. IRAN China is also under pressure from the United States to reduce its Iranian oil imports as Washington aims to cut exports from OPEC’s third-largest exporter to zero to force Tehran to negotiate a nuclear treaty. Buyers in Europe, Japan, South Korea and India have either stopped or are reducing Iranian oil imports sharply ahead of the introduction of sanctions in November. “I expect we’ll cut a little but the volume has not been finalised,” Chen said, without giving a timeframe for the cuts. He added that Unipec has resumed normal loadings of Saudi oil after it cut imports in May-July. Given the current supply and demand dynamic in global markets, Chen said, crude oil prices between at $60 and $80 per barrel were normal.
Vijayawada: Illegal use of LPG rampant in city, puts public safety at risk
Unauthorised gas filling stations are posing threat to the public safety in the city. Despite clear guidelines prohibiting the illegal usage of subsidized LPG cylinders, it is still used for filling vehicles in areas like Jawahar Autonagar, Ajith Singh Nagar, Benz Circle and other busy areas in city posing threat to the locals. Consumption of LPG for vehicles has increased in recent time due to the scorching fuel prices while the usage of household LPG cylinders has been going on secretly. A few garages in Jawahar Autonagar and Ajith Singh Nagar are have been flouting this particular rule in the absence of proper monitoring from civil supplies, fire and police departments. “It is almost three years that garages are refilling cars with LPG cylinders and garage owners have continued refilling of cars on the main road near Benz Circle. Frequent gas leaks have become a worrying factor for us and no officials have responded to our complaints,” M Naga Vamshi Krishna, a resident of Darsipeta said. While the residents are worried about the illegal trade, garage owners, on the other hand, say that they are doing this on demand of consumers. They even say that a few consumers bring their own gas cylinders to refill. “LPG bunks usually fill gas in litres and consumers get more quantity in kilograms with household subsidy cylinders. We are just providing the filling devices, guns and charging nominal fees,” a motor mechanic on condition of anonymity said. Officials of legal metrology say that it is against the law and one cannot take up such practices. “Using domestic gas cylinders for motor vehicles is an offence and refilling cylinders with unprotected devices is not at all safe. We conducted inspections earlier along with civil supplies department and oil companies and this trade has come down after the government reduced the subsidy on LPG,” PSRNT Swamy, deputy controller of legal metrology Department said. We will soon initiate stringent action on the garages continuing this illegal trade, he further added. Ethan Westbrooks Jersey
Rising fuel prices forces Delhi Gurdwaras to switch to biogas
Delhi’s Gurdwara management committee has planned to switch from piped natural gas to biogas to run its langar kitchen in ten shrines here, including Bangla Sahib and Rakab Ganj Gurdwara. The move is aimed at reducing carbon footprint, cut fuel cost and making the shrines environment friendly, said Manjeet Singh GK, the president of Delhi Sikh Gurdwara Management Committee (DSGMC). Initially, the bio gas plants would be set up at Rakab Ganj and Bangla Sahib that generate largest quantity of biodegradable waste, Singh said. The community kitchen in these Gurdwaras serves food to around 30,000 visiting devotees every day. Each plant would have the capacity to manage four quintal of kitchen waste per day, he said. “The biogas plant would be set up in collaboration with an internationally reputed organic waste convertor company and is likely to be funded by a multinational corporation under its corporate social responsibility,” Singh said. The community kitchens of remaining eight Gurdwaras will switch to bio fuel by the end of 2019 in a phased manner, said Harjit Singh, who heads renewable energy wing of DSGMC. The operating cost of the plant is low and there is no need for maintenance for initial two years. It is very easy to operate once installed, he said. Trevor Williams Jersey
Oil minister Pradhan to review progress of Nepal petro pipeline
Oil ministerDharmendra Pradhan will visit Nepal in the last week of September, an official of the Indian Embassy said. “Indian Minister for Petroleum and Natural Gas Dharmendra Pradhan will be visiting Nepal in the last week of this month (September) to observe the progress made over the Raxaul-Amlekhganj petroleum pipeline,” a high-level official inside from the Indian Embassy in Kathmandu said. The Raxaul-Amlekhganj pipeline is currently under construction as a joint investment project between India and Nepal with an investment of Rs 3.2 billion by the Indian Government and Rs 1.2 billion by the Nepal Government. The Nepal and Indian governments had signed the agreement for the construction of the pipeline on August 24, 2015, in Kathmandu, during Pradhan’s earlier visit. “As of now, he (Pradhan) is scheduled to come to Nepal on September 28 evening, after which he will be meeting Nepal Prime Minister KP Oli, cabinet ministers and other political figures in the capital. The following morning on September 29, he will be visiting the Amlekhganj as well as Janakpur and assess the progress being made over there,” the source added. The pipeline spans across over 69 kilometres, covering 32.7 kilometres of the Indian territory and 36.2 kilometres of the Nepal territory. The pipe being laid has the capacity of supplying 200,000 litres of fuel on an hourly basis, with a fuel pumping facility in Motihari. Magic Johnson Authentic Jersey
ONGC gets green nod for development drilling of 72 wells in KG Basin
The Expert Appraisal Committee (EAC) under the Ministry of Environment, Forest and Climate Change has given the green signal to state-owned ONGC limited for Additional Development Drilling of 72 wells in the Krishna-Godavari basin. The Oil and natural gas PSU submitted a proposal to the Environment Ministry for environmental clearance (EC) to the project, related to the additional Development Drilling of 72 wells in East Godavari, West Godavari and Krishna districts of Andhra Pradesh, with an investment outlay of Rs 7.92 billion. “The EAC, after deliberations, recommended the project for grant of environmental clearance, subject to compliance of terms and conditions as under,” the EAC said in the minutes of the meeting held on August 30. The standard Terms of Reference for the project was granted on January 29, 2016, and a public hearing was conducted by the State Pollution Control Board at West Godavari, Krishna, and East Godavari Districts on January 20, April 7 and May 3 this year respectively. Some of the conditions laid down by the EAC while granting EC was that during exploration, production, storage, and handling, the fugitive emission of methane, if any, should be monitored using the Infra-red camera or appropriate technology. The project proponent ONGC should also ensure trapping and storing of the CO2 generated, if any, during the process and handling, EAC said. “Total land area will be required for each well will be 4. 5 acres. The estimated project cost is Rs 7.92 billion. Total capital cost earmarked towards environmental pollution control measures are Rs 10.3 million per well and recurring cost (operation and maintenance) will be about Rs 1 million per well per annum,” the Committee said. Blow Out Preventer system should be installed to prevent well blowouts during drilling and on completion, the company has to plug the drilled wells safely and obtain a certificate from the environment safety angle from the authority concerned, it said. Budda Baker Jersey