This document proposes creating a large strategic petroleum reserve in India to ensure energy security. It would be financed through public-private partnerships and involve Gulf oil exporting countries. The reserve would store 600 million barrels of crude oil from the Gulf region in underground caverns in South India. A transportation system would also be set up to move oil between the storage facilities and ports. The project aims to address energy security needs for India while providing Gulf exporters access to markets even if the Strait of Hormuz is blocked. The financing is proposed to split the project into two entities to properly allocate ownership and risk among participating countries and companies.
Globalization and its impact on indias petroleum exportsIAEME Publication
This document analyzes the impact of globalization on India's petroleum exports. It provides background on India's petroleum industry and policy pre- and post-globalization. Prior to globalization in the 1980s, India's petroleum exports were minimal, averaging around $30 million annually from 1970-1980 due to a policy of self-sufficiency. After adopting liberalization and privatization in 1991, exports grew substantially, averaging around $5912.75 million annually as production and the private sector expanded under less regulation. The document uses data from 1970-1990 to represent the pre-globalization period and analyzes exports before and after globalization to determine globalization's impact on India's petroleum trade.
India remains the third largest energy consumer globally. Crude oil production in India stood at 35.68 million tonnes in 2017-18, with state-owned ONGC accounting for around 58% of output. Natural gas consumption has increased at a CAGR of 3.4% between 2007-2017 to reach 54.2 billion cubic metres. Demand for gas is projected to reach 143 bcm by 2040, with imports projected to double over the next five years.
New base energy news issue 867 dated 07 june 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase Special 07 June 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• Saudi :A Quick Guide to the National Transformation Program
• Qatar:India Wants to Develop Hydrocarbon Resources in Qatar
• Egypt: Aker Solutions wins order for umbilicals at Egypt's Zohr gas field
• Ghana expects steady oil output as Tullow's Jubilee field recovers
• Denmark:World’s Cheapest Offshore Wind Farm Seen Online Early
• EIA publishes construction cost information for electric power generators
• Oil prices stable around 7-month high, but momentum seen strong
• Climate accord 'irrelevant,' and CO2 cuts could impoverish the world: Scientist
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :- khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
The document discusses falling oil prices and their relatively minor impact on producers. It notes that oil prices have remained steady between $100-110 per barrel for several years, with fluctuations of less than 10%, due to factors like more stable global demand and key producers like Saudi Arabia better managing supplies. The document also reports that a UAE company has opened a new oil drilling rig, and that a GCC report found the region is making progress on social development metrics like education and utilities, but faces challenges in areas like personal freedoms and environmental sustainability. It closes by mentioning that India and Pakistan are negotiating a deal for India to supply Pakistan with LNG.
New base energy news issue 909 dated 17 august 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase 17 August 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE: Bain & Co, Landor Associates appointed Advisors for Mubadala, Ipic merger
• Kazakhstan: Vitol wins right to export Kazakhstan share of Kashagan
• Algeria's Sonatrach says oil drilling results "very satisfactory"
• India: Renegotiated Qatar LNG Deal to Help India Save $3bn
• Russia plans meeting with OPEC in October
• US:Dominion’s Cove Point LNG export facility, Maryland, 67%
• U.S. crude oil exports are increasing and reaching more destinations
• Oil prices fall on doubts that producers can agree output restraint
• Shale gas production drives world natural gas production growth
• Aramco's Path From One Oil Well to World's Most Valuable Company
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Greetings,
Attached FYI ( NewBase Special 02 June 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• SolarImpulse Safe in NAGOYA - JAPAN
• Oman oil minister says Opec's decision not helping member states
• Egypt signs $2bn exploration deal with Italy's Eni
• Morocco: Pura Vida Energy spuds MZ-1 well, offshore Morocco
• Kazakhstan wants oil majors to develop Caspian Depression
• Tanzania: Swala Energy announces farmout licences to Tata Petrodyne
• Uganda announces London roadshow for First Licensing Round
• The U.S. oil fracker's dilemma: crouch or pounce?
• Oil prices stabilize, firm demand counters oversupply
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy sin
New base 31 january 2018 energy news issue 1134 by khaled al awadiKhaled Al Awadi
The UAE will reduce output of its Murban crude oil blend by 25% in March as part of OPEC production cuts. Saudi Sipchem is considering its first US investment in petrochemical production to take advantage of shale gas. Ethiopia plans a new $4 billion oil refinery to meet growing demand, although a Blackstone-backed fuel pipeline plan has been shelved. BP made two new oil and gas discoveries in the UK North Sea that could help boost its long-term production goals in the region.
Oil and gas currently satisfy 55% of the world's energy needs and contributed the majority of energy production in 1971. While oil and gas production and consumption have increased significantly since then, their contribution to the total energy mix has decreased as other sources have grown. India is the fifth largest energy consumer and heavily dependent on imported oil, with domestic demand and production of both oil and gas projected to continue increasing substantially in the coming decades. Uncertainty around economic and environmental factors could impact future supply and demand for oil and gas globally.
Globalization and its impact on indias petroleum exportsIAEME Publication
This document analyzes the impact of globalization on India's petroleum exports. It provides background on India's petroleum industry and policy pre- and post-globalization. Prior to globalization in the 1980s, India's petroleum exports were minimal, averaging around $30 million annually from 1970-1980 due to a policy of self-sufficiency. After adopting liberalization and privatization in 1991, exports grew substantially, averaging around $5912.75 million annually as production and the private sector expanded under less regulation. The document uses data from 1970-1990 to represent the pre-globalization period and analyzes exports before and after globalization to determine globalization's impact on India's petroleum trade.
India remains the third largest energy consumer globally. Crude oil production in India stood at 35.68 million tonnes in 2017-18, with state-owned ONGC accounting for around 58% of output. Natural gas consumption has increased at a CAGR of 3.4% between 2007-2017 to reach 54.2 billion cubic metres. Demand for gas is projected to reach 143 bcm by 2040, with imports projected to double over the next five years.
New base energy news issue 867 dated 07 june 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase Special 07 June 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• Saudi :A Quick Guide to the National Transformation Program
• Qatar:India Wants to Develop Hydrocarbon Resources in Qatar
• Egypt: Aker Solutions wins order for umbilicals at Egypt's Zohr gas field
• Ghana expects steady oil output as Tullow's Jubilee field recovers
• Denmark:World’s Cheapest Offshore Wind Farm Seen Online Early
• EIA publishes construction cost information for electric power generators
• Oil prices stable around 7-month high, but momentum seen strong
• Climate accord 'irrelevant,' and CO2 cuts could impoverish the world: Scientist
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :- khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
The document discusses falling oil prices and their relatively minor impact on producers. It notes that oil prices have remained steady between $100-110 per barrel for several years, with fluctuations of less than 10%, due to factors like more stable global demand and key producers like Saudi Arabia better managing supplies. The document also reports that a UAE company has opened a new oil drilling rig, and that a GCC report found the region is making progress on social development metrics like education and utilities, but faces challenges in areas like personal freedoms and environmental sustainability. It closes by mentioning that India and Pakistan are negotiating a deal for India to supply Pakistan with LNG.
New base energy news issue 909 dated 17 august 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase 17 August 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE: Bain & Co, Landor Associates appointed Advisors for Mubadala, Ipic merger
• Kazakhstan: Vitol wins right to export Kazakhstan share of Kashagan
• Algeria's Sonatrach says oil drilling results "very satisfactory"
• India: Renegotiated Qatar LNG Deal to Help India Save $3bn
• Russia plans meeting with OPEC in October
• US:Dominion’s Cove Point LNG export facility, Maryland, 67%
• U.S. crude oil exports are increasing and reaching more destinations
• Oil prices fall on doubts that producers can agree output restraint
• Shale gas production drives world natural gas production growth
• Aramco's Path From One Oil Well to World's Most Valuable Company
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Greetings,
Attached FYI ( NewBase Special 02 June 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• SolarImpulse Safe in NAGOYA - JAPAN
• Oman oil minister says Opec's decision not helping member states
• Egypt signs $2bn exploration deal with Italy's Eni
• Morocco: Pura Vida Energy spuds MZ-1 well, offshore Morocco
• Kazakhstan wants oil majors to develop Caspian Depression
• Tanzania: Swala Energy announces farmout licences to Tata Petrodyne
• Uganda announces London roadshow for First Licensing Round
• The U.S. oil fracker's dilemma: crouch or pounce?
• Oil prices stabilize, firm demand counters oversupply
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy sin
New base 31 january 2018 energy news issue 1134 by khaled al awadiKhaled Al Awadi
The UAE will reduce output of its Murban crude oil blend by 25% in March as part of OPEC production cuts. Saudi Sipchem is considering its first US investment in petrochemical production to take advantage of shale gas. Ethiopia plans a new $4 billion oil refinery to meet growing demand, although a Blackstone-backed fuel pipeline plan has been shelved. BP made two new oil and gas discoveries in the UK North Sea that could help boost its long-term production goals in the region.
Oil and gas currently satisfy 55% of the world's energy needs and contributed the majority of energy production in 1971. While oil and gas production and consumption have increased significantly since then, their contribution to the total energy mix has decreased as other sources have grown. India is the fifth largest energy consumer and heavily dependent on imported oil, with domestic demand and production of both oil and gas projected to continue increasing substantially in the coming decades. Uncertainty around economic and environmental factors could impact future supply and demand for oil and gas globally.
Energy Fuels Inc. completed the acquisition of Uranerz Energy Corporation on June 18, 2015. All operations and production from Uranerz assets are now consolidated under Energy Fuels. Energy Fuels is a leading uranium producer in the US with both conventional and in-situ recovery (ISR) production facilities. It owns the largest uranium resource portfolio among US producers, totaling over 55 million pounds of uranium. Energy Fuels expects to produce 900,000 pounds of uranium in 2016 and has 1.17 million pounds of uranium sales under contract for 2016-2017.
New base energy news issue 940 dated 31 october 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase 31 October 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE Fuel price floating with oil prices with 5% rise in Nov-16
• Iraq Reveals Oilfields Output to Win Over OPEC Ahead of Meeting
• Japan: INPEX concludes exploration drilling offshore Japan
• Senegal: ConocoPhillips completes sale of exploration blocks
• Low tanker rates are enabling more long-distance crude oil
• Oil falls as non-OPEC yet to pledge concrete output steps
• Non-OPEC yet to pledge concrete oil output steps after meeting OPEC
• Big Oil’s Shrinking Act Has More to Go in China
• GE-Baker Hughes deal could be announced Monday, WSJ reports
• Offshore oil production in deepwater and ultra deepwater is increasing
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :- khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Presentation at TUROGE 2014 (Turkish International Oil and Gas Conference) on Turkish E&P Sector & New Petroleum Law.
By Ali Yildizel - E&P Group Leader at PETFORM
This document discusses plans for increasing Indonesia's refinery capacity through international investment. It notes that global oil demand is projected to increase significantly by 2035, with demand shifting from OPEC countries to Asia. Currently, Indonesia's refinery capacity is much lower than other Asian countries on a per capita basis. The document outlines roadmaps and business models for developing new private refineries in Indonesia to meet the projected demand and reduce reliance on imports. It summarizes an example project for a new 150,000 barrel per day refinery in Situbondo, East Java, which would require $5 billion in investment and have an estimated internal rate of return of 12.96-15.09% depending on oil prices. Government
- Nido Petroleum provided an update on production from the Galoc oil field in the Philippines, which has produced over 2 million barrels since the start of Phase II in December 2013, with 10 cargo deliveries expected in 2014.
- Further studies are being considered to better understand the potential of the Galoc Mid and North Areas to unlock additional reserves.
- Independent reserves assessments estimated the remaining reserves at around 2-4% lower than the previous assessment, within an acceptable uncertainty range and not considered a material change. Production has been consistent with previous forecasts.
This document provides an overview of the global oil and gas industry and markets. It discusses the history and evolution of the oil industry, current global energy usage and demand trends, key oil and gas producing regions and companies, oil and gas markets and pricing, the process for developing new oil and gas fields, and India's energy landscape and challenges. It aims to serve as an introductory guide to understanding the international oil and gas sector.
Global Development & Trends in Turkey & its Neighbours & the Rest of the Oil ...ITE Oil&Gas
Presentation at TUROGE 2014 (Turkish International Oil and Gas Conference) on Global Development & Trends in Turkey and its Neighbours & the Rest of the Oil and Gas Producing World.
By Huseyin Yakar - Deputy Director, Strategy Department, TPAO
Precision Research and Consulting Private Limited - Research Reports CatalougeiData Insights
x.
w. Pachwara South
This document provides details on captive coal and lignite blocks in India including:
1) Commercial mining blocks operated by various state companies and mineral boards
2) Captive blocks developed by PSU/government companies such as NTPC and SAIL
3) Captive blocks developed by private companies
4) Jointly developed blocks
5) Unallocated blocks
It contains over 400 pages of information on over 100 individual blocks including their location, operating company, and current status. The document aims to outline the current state of captive coal mining in India.
The document discusses the DSP BlackRock World Energy Fund, a fund of funds scheme that invests predominantly in the BlackRock Global Funds - World Energy Fund and BlackRock Global Funds - New Energy Fund. It provides information on the scheme's portfolio allocation, performance since inception, and top 10 holdings of the underlying funds. The outlook discusses expectations for continued tightening in the oil market and increasing demand. Risk factors associated with the scheme are also summarized.
Greetings,
Attached FYI ( NewBase Special 21 October 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• OPEC Is About to Crush the U.S. Oil Boom
• Qatar: Siemens to supply Turbines to Umm Al Houl Power Plant
• UAE: plays critical role in innovating and diversifying energy sources,
• Nigeria to Split Long-Delayed Petroleum Bill to Speed Passage
• Oil prices move higher on weaker dollar, above three-week low
• OPEC Hosts Meeting With Oil Officials From Non-Member States – No cuts
• Climate pledges for COP21 slow energy sector emissions growth dramatically
• Low oil price impact: OFW remittances decline for first time in over a decade
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
The document summarizes recent developments in the oil and gas industry, including:
1) The Emirates Nuclear Energy Corporation announced completion of major construction milestones for Unit 2 of the Barakah Nuclear Power Plant in the UAE.
2) Senegal extended the Petroleum Sharing Contract for the Cairn Energy-operated block by 3 years to allow further appraisal and exploration.
3) Most OPEC members would need significantly higher oil prices than current levels to balance their national budgets, according to the IMF, with the exception of Qatar.
Greetings,
Attached FYI ( NewBase Special 11 November 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• UAE: BP presents solid bid for AbuDhabi ( ADCO ) concession
• Qatar accounts for 20% of total GCC chemicals export volume, valued at $10.6bn in 2014
• OPEC Challenges Shale Afresh as Iraq Crude Floods Gulf of Mexico
• OPEC Said to Consider New Output Ceiling as Indonesia Rejoins
• U.S. Lowers 2016 Crude Output Forecast as Drillers Idle Rigs
• Oil prices drop on rising stockpiles, Japan recession fears
• Oil prices to stay low till 2020
• LNG construction sector hits its peak and faces steep fall leading to heightened competitive tension amongst contractors
• OMV CEO, Ex-German Chancellor in Call for Better Russia/EU Relations
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy sin
Mafm the case for investment in grains and oilseedsJoanna T.
The document discusses grains and oilseeds, focusing on wheat, barley, corn, and soybeans. It provides background on the origins and major producers and consumers of each crop. Key points made include that wheat and barley have been grown for over 10,000 years, corn production is led by the US, and soybeans are high in protein and divided into meal and oil when processed. The document examines trends in global trade and demand drivers for each commodity.
Steven Kopits presented an analysis of oil supply and demand forecasting models. Traditional models are demand-driven and assume that GDP growth determines oil demand growth. However, Kopits argues for a supply-constrained view where oil supply growth limits GDP growth. He shows that despite $4 trillion spent, legacy oil production has declined while unconventionals prevented larger drops. Non-OECD demand could be 60 mbpd by 2030 but forecast growth is just 0.8% due to constrained supply assumptions. Kopits concludes traditional models overestimate future supply.
INDIA’S MINING INDUSTRY TURNING A CORNER....
After several years of contraction, the Indian mining industry
has turned the corner, marking a highlight of Prime Minister
Narendra Modi’s two years in office.
According to official data, the mining industry notched up
8.2% growth during the first eleven months of the 2015/16
financial year, which is now being touted as a considerable
achievement by the Modi government against the backdrop of
four consecutive years of contraction until 2014/15.
The mining industry also contributed significantly to bolstering
the Index of Industrial Production (IIP), which registered
an average growth of 2.6%
during the first 11 months of
the financial year. Mining has
a 14% weightage in the IIP.
June 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS : Oil & Gas Industry
COMPANY ANALYSIS : HPCL
Concept of the Month
Quiz
Did You Know?
This document discusses India's energy landscape and opportunities for liquid fuels from sugarcane. It notes that India imports a large portion of its energy needs and is seeking to boost domestic production. Sugarcane is discussed as a feedstock for ethanol, butanol, methanol, and hydrogen. The sugar industry has become more integrated as a biorefinery model. Opportunities exist to increase ethanol production to meet blending mandates and fuel demand through increasing sugarcane acreage and yields. Other liquid fuels like butanol and methanol are mentioned as alternatives that can be produced from sugarcane.
Here are the key points regarding how companies can gain access to a new customer base through strategic partnerships in today's changing business environment:
- Forming strategic partnerships allows companies to gain access to each other's existing customer bases, expanding their total potential market reach. By partnering, each company can promote the other's products/services to their existing customers.
- Partnering with companies that have complementary but non-competing offerings opens up cross-selling opportunities. For example, a manufacturer partnering with a distributor gains access to the distributor's customer network to sell additional products.
- Partnerships that bring together companies with different but synergistic customer segments help both reach new types of customers. For example, a B2
New base issue 1191 special 28 july 2018 energy newsKhaled Al Awadi
Middle Eastern oil producers are investing heavily in downstream refining and petrochemical projects to secure markets for their crude oil and meet rising domestic demand for products. Major projects underway or planned by Saudi Aramco and ADNOC aim to make the Middle East the world's largest exporter of both crude oil and refined products. These investments will help the region adapt to changing global oil demand trends and gain market share, especially in Asia.
The document summarizes investment opportunities in India's oil and gas sector. It notes that India is the 6th largest consumer of oil globally and imports over 60% of its needs. Several policies encourage 100% foreign investment in areas like natural gas and refineries. The sector attracted $5.13 billion between 2000-2014. Major companies like Reliance and ONGC are investing billions in exploration, drilling, and offshore projects. With demand projected to greatly outpace domestic supply, the document outlines opportunities in areas like shale gas, pipelines, refining and technology partnerships to boost upstream production.
The oil and gas sector in India is expected to be worth $139 billion by 2015 and represents a major investment opportunity. India is the sixth largest consumer of oil globally and relies on imports for over 60% of its oil needs. Several government policies encourage investment in the sector, including allowing 100% foreign ownership. Potential areas for investment include developing India's shale gas resources, underground coal gasification, and providing equipment and services for oil and gas exploration and production.
Energy Fuels Inc. completed the acquisition of Uranerz Energy Corporation on June 18, 2015. All operations and production from Uranerz assets are now consolidated under Energy Fuels. Energy Fuels is a leading uranium producer in the US with both conventional and in-situ recovery (ISR) production facilities. It owns the largest uranium resource portfolio among US producers, totaling over 55 million pounds of uranium. Energy Fuels expects to produce 900,000 pounds of uranium in 2016 and has 1.17 million pounds of uranium sales under contract for 2016-2017.
New base energy news issue 940 dated 31 october 2016Khaled Al Awadi
Greetings,
Attached FYI (NewBase 31 October 2016 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In today’s issue you will find news about:-
• UAE Fuel price floating with oil prices with 5% rise in Nov-16
• Iraq Reveals Oilfields Output to Win Over OPEC Ahead of Meeting
• Japan: INPEX concludes exploration drilling offshore Japan
• Senegal: ConocoPhillips completes sale of exploration blocks
• Low tanker rates are enabling more long-distance crude oil
• Oil falls as non-OPEC yet to pledge concrete output steps
• Non-OPEC yet to pledge concrete oil output steps after meeting OPEC
• Big Oil’s Shrinking Act Has More to Go in China
• GE-Baker Hughes deal could be announced Monday, WSJ reports
• Offshore oil production in deepwater and ultra deepwater is increasing
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :- khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
Presentation at TUROGE 2014 (Turkish International Oil and Gas Conference) on Turkish E&P Sector & New Petroleum Law.
By Ali Yildizel - E&P Group Leader at PETFORM
This document discusses plans for increasing Indonesia's refinery capacity through international investment. It notes that global oil demand is projected to increase significantly by 2035, with demand shifting from OPEC countries to Asia. Currently, Indonesia's refinery capacity is much lower than other Asian countries on a per capita basis. The document outlines roadmaps and business models for developing new private refineries in Indonesia to meet the projected demand and reduce reliance on imports. It summarizes an example project for a new 150,000 barrel per day refinery in Situbondo, East Java, which would require $5 billion in investment and have an estimated internal rate of return of 12.96-15.09% depending on oil prices. Government
- Nido Petroleum provided an update on production from the Galoc oil field in the Philippines, which has produced over 2 million barrels since the start of Phase II in December 2013, with 10 cargo deliveries expected in 2014.
- Further studies are being considered to better understand the potential of the Galoc Mid and North Areas to unlock additional reserves.
- Independent reserves assessments estimated the remaining reserves at around 2-4% lower than the previous assessment, within an acceptable uncertainty range and not considered a material change. Production has been consistent with previous forecasts.
This document provides an overview of the global oil and gas industry and markets. It discusses the history and evolution of the oil industry, current global energy usage and demand trends, key oil and gas producing regions and companies, oil and gas markets and pricing, the process for developing new oil and gas fields, and India's energy landscape and challenges. It aims to serve as an introductory guide to understanding the international oil and gas sector.
Global Development & Trends in Turkey & its Neighbours & the Rest of the Oil ...ITE Oil&Gas
Presentation at TUROGE 2014 (Turkish International Oil and Gas Conference) on Global Development & Trends in Turkey and its Neighbours & the Rest of the Oil and Gas Producing World.
By Huseyin Yakar - Deputy Director, Strategy Department, TPAO
Precision Research and Consulting Private Limited - Research Reports CatalougeiData Insights
x.
w. Pachwara South
This document provides details on captive coal and lignite blocks in India including:
1) Commercial mining blocks operated by various state companies and mineral boards
2) Captive blocks developed by PSU/government companies such as NTPC and SAIL
3) Captive blocks developed by private companies
4) Jointly developed blocks
5) Unallocated blocks
It contains over 400 pages of information on over 100 individual blocks including their location, operating company, and current status. The document aims to outline the current state of captive coal mining in India.
The document discusses the DSP BlackRock World Energy Fund, a fund of funds scheme that invests predominantly in the BlackRock Global Funds - World Energy Fund and BlackRock Global Funds - New Energy Fund. It provides information on the scheme's portfolio allocation, performance since inception, and top 10 holdings of the underlying funds. The outlook discusses expectations for continued tightening in the oil market and increasing demand. Risk factors associated with the scheme are also summarized.
Greetings,
Attached FYI ( NewBase Special 21 October 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• OPEC Is About to Crush the U.S. Oil Boom
• Qatar: Siemens to supply Turbines to Umm Al Houl Power Plant
• UAE: plays critical role in innovating and diversifying energy sources,
• Nigeria to Split Long-Delayed Petroleum Bill to Speed Passage
• Oil prices move higher on weaker dollar, above three-week low
• OPEC Hosts Meeting With Oil Officials From Non-Member States – No cuts
• Climate pledges for COP21 slow energy sector emissions growth dramatically
• Low oil price impact: OFW remittances decline for first time in over a decade
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy since 2010
The document summarizes recent developments in the oil and gas industry, including:
1) The Emirates Nuclear Energy Corporation announced completion of major construction milestones for Unit 2 of the Barakah Nuclear Power Plant in the UAE.
2) Senegal extended the Petroleum Sharing Contract for the Cairn Energy-operated block by 3 years to allow further appraisal and exploration.
3) Most OPEC members would need significantly higher oil prices than current levels to balance their national budgets, according to the IMF, with the exception of Qatar.
Greetings,
Attached FYI ( NewBase Special 11 November 2015 ) , from Hawk Energy Services Dubai . Daily energy news covering the MENA area and related worldwide energy news. In todays’ issue you will find news about:-
• UAE: BP presents solid bid for AbuDhabi ( ADCO ) concession
• Qatar accounts for 20% of total GCC chemicals export volume, valued at $10.6bn in 2014
• OPEC Challenges Shale Afresh as Iraq Crude Floods Gulf of Mexico
• OPEC Said to Consider New Output Ceiling as Indonesia Rejoins
• U.S. Lowers 2016 Crude Output Forecast as Drillers Idle Rigs
• Oil prices drop on rising stockpiles, Japan recession fears
• Oil prices to stay low till 2020
• LNG construction sector hits its peak and faces steep fall leading to heightened competitive tension amongst contractors
• OMV CEO, Ex-German Chancellor in Call for Better Russia/EU Relations
we would appreciate your actions to send to all interested parties that you may wish. Also note that if you or your organization wish to include your own article or advert in our circulations, please send it to :-
khdmohd@hotmail.com or khdmohd@hawkenergy.net
Best Regards.
Khaled Al Awadi
Energy Consultant & NewBase Chairman - Senior Chief Editor
MS & BS Mechanical Engineering (HON), USA
Emarat member since 1990
ASME meme since 1995
Hawk Energy sin
Mafm the case for investment in grains and oilseedsJoanna T.
The document discusses grains and oilseeds, focusing on wheat, barley, corn, and soybeans. It provides background on the origins and major producers and consumers of each crop. Key points made include that wheat and barley have been grown for over 10,000 years, corn production is led by the US, and soybeans are high in protein and divided into meal and oil when processed. The document examines trends in global trade and demand drivers for each commodity.
Steven Kopits presented an analysis of oil supply and demand forecasting models. Traditional models are demand-driven and assume that GDP growth determines oil demand growth. However, Kopits argues for a supply-constrained view where oil supply growth limits GDP growth. He shows that despite $4 trillion spent, legacy oil production has declined while unconventionals prevented larger drops. Non-OECD demand could be 60 mbpd by 2030 but forecast growth is just 0.8% due to constrained supply assumptions. Kopits concludes traditional models overestimate future supply.
INDIA’S MINING INDUSTRY TURNING A CORNER....
After several years of contraction, the Indian mining industry
has turned the corner, marking a highlight of Prime Minister
Narendra Modi’s two years in office.
According to official data, the mining industry notched up
8.2% growth during the first eleven months of the 2015/16
financial year, which is now being touted as a considerable
achievement by the Modi government against the backdrop of
four consecutive years of contraction until 2014/15.
The mining industry also contributed significantly to bolstering
the Index of Industrial Production (IIP), which registered
an average growth of 2.6%
during the first 11 months of
the financial year. Mining has
a 14% weightage in the IIP.
June 2014 Edition of BEACON, A Monthly Newsletter by SIMCON.
Inside this issue:
INDUSTRY ANALYSIS : Oil & Gas Industry
COMPANY ANALYSIS : HPCL
Concept of the Month
Quiz
Did You Know?
This document discusses India's energy landscape and opportunities for liquid fuels from sugarcane. It notes that India imports a large portion of its energy needs and is seeking to boost domestic production. Sugarcane is discussed as a feedstock for ethanol, butanol, methanol, and hydrogen. The sugar industry has become more integrated as a biorefinery model. Opportunities exist to increase ethanol production to meet blending mandates and fuel demand through increasing sugarcane acreage and yields. Other liquid fuels like butanol and methanol are mentioned as alternatives that can be produced from sugarcane.
Here are the key points regarding how companies can gain access to a new customer base through strategic partnerships in today's changing business environment:
- Forming strategic partnerships allows companies to gain access to each other's existing customer bases, expanding their total potential market reach. By partnering, each company can promote the other's products/services to their existing customers.
- Partnering with companies that have complementary but non-competing offerings opens up cross-selling opportunities. For example, a manufacturer partnering with a distributor gains access to the distributor's customer network to sell additional products.
- Partnerships that bring together companies with different but synergistic customer segments help both reach new types of customers. For example, a B2
New base issue 1191 special 28 july 2018 energy newsKhaled Al Awadi
Middle Eastern oil producers are investing heavily in downstream refining and petrochemical projects to secure markets for their crude oil and meet rising domestic demand for products. Major projects underway or planned by Saudi Aramco and ADNOC aim to make the Middle East the world's largest exporter of both crude oil and refined products. These investments will help the region adapt to changing global oil demand trends and gain market share, especially in Asia.
The document summarizes investment opportunities in India's oil and gas sector. It notes that India is the 6th largest consumer of oil globally and imports over 60% of its needs. Several policies encourage 100% foreign investment in areas like natural gas and refineries. The sector attracted $5.13 billion between 2000-2014. Major companies like Reliance and ONGC are investing billions in exploration, drilling, and offshore projects. With demand projected to greatly outpace domestic supply, the document outlines opportunities in areas like shale gas, pipelines, refining and technology partnerships to boost upstream production.
The oil and gas sector in India is expected to be worth $139 billion by 2015 and represents a major investment opportunity. India is the sixth largest consumer of oil globally and relies on imports for over 60% of its oil needs. Several government policies encourage investment in the sector, including allowing 100% foreign ownership. Potential areas for investment include developing India's shale gas resources, underground coal gasification, and providing equipment and services for oil and gas exploration and production.
This document summarizes the Congressional Research Service report on the Strategic Petroleum Reserve. It discusses the authorization and operation of the SPR, including its creation in 1975 in response to the Arab oil embargo. The SPR aims to reduce the economic impact of supply disruptions by storing 90 days worth of oil imports. It is managed by the Department of Energy and can release 4.4 million barrels per day. The report provides details on SPR sites, capacities, past releases, and policy considerations regarding the reserve.
The UAE plans to increase crude oil and gas production over the next few years through enhanced oil recovery techniques in mature fields, with the goal of expanding oil production by 30% by 2020. This includes projects to increase production at the Upper Zakum and Lower Zakum oil fields. The UAE also aims to increase domestic natural gas production to meet growing demand, though developing its gas reserves is challenging due to high sulfur content.
Qatargas has delivered over 2,300 LNG cargoes to Japanese customers since 1997. Senior Qatari officials recently met with Japanese companies to discuss expanding LNG exports to Japan and other areas of cooperation.
Dow Chemical and its Kuwaiti partner KPC
International Journal of Engineering Research and Development (IJERD)IJERD Editor
journal publishing, how to publish research paper, Call For research paper, international journal, publishing a paper, IJERD, journal of science and technology, how to get a research paper published, publishing a paper, publishing of journal, publishing of research paper, reserach and review articles, IJERD Journal, How to publish your research paper, publish research paper, open access engineering journal, Engineering journal, Mathemetics journal, Physics journal, Chemistry journal, Computer Engineering, Computer Science journal, how to submit your paper, peer reviw journal, indexed journal, reserach and review articles, engineering journal, www.ijerd.com, research journals,
yahoo journals, bing journals, International Journal of Engineering Research and Development, google journals, hard copy of journal
Oil and Gas Sector Research- A GoldEdge Working Paper Series - 2013 Final-Fin...Bernard Narkotey
This paper examines the link between firm-level productivity in Ghana's oil and gas sector and the government's ability to generate revenue in the long run. It discusses Ghana's nascent oil and gas sector, including key oil field discoveries and operations. The paper analyzes factors that could influence productivity and revenue, such as capital/operational costs and policy initiatives. Empirical models are developed to assess relationships between variables like productivity, costs, and government revenue using World Bank data on Ghana's oil fields over 19 years. The analysis finds a relationship between sector output and government revenue, though both are expected to peak within 6 years and decline long-term.
PowEra Feasibility Analysis 2
Prepared By:
Justin Charron
Diana Dang
Chris Hoang
Emilia Konoeva
Eric Salkauskas
Aditya Verma
Submitted to Kris Hans, Instructor of ENTI 401 (Entrepreneurship and Innovation 401) - Opportunity Identification for fulfillment of course requirements at the Haskayne School of Business, University of Calgary in Fall 2019.
AMAZING CHAMPIONS OF ENERGY ACE Case Study Submitted to Cairn IndiaAkhilesh Mishra
This document provides information on energy sources in India, including both primary and final energy sources. It discusses India's current reserves of coal and lignite that can sustain production for 140 years and natural gas reserves that can sustain production until 2046. It also summarizes expert opinions on India's increasing reliance on imported oil to meet its needs and projections that oil demand will increase significantly by 2025. The document discusses recommendations from committees on reforms to India's oil and gas sector policies and contractual frameworks. It also summarizes best practices in Brazil and China related to their oil and gas industries.
http://www.cairnindia.com Cairn Connect is an internally created publication for all employees and stakeholders. It aims to create a common thread of communication and provide a vision to work together towards creating energy security for the nation.
The UAE has agreed to help India boost its strategic crude oil storage capacity of 5.03 million metric tonnes. A joint working group between the two countries will be formed to support establishing oil reserves in India in a way that serves both countries' strategic interests. India has already completed the first part of developing oil storage facilities at three southern locations. The UAE's support comes as India looks to improve its energy security through increasing oil reserves.
This document provides an overview of the global oil industry, including production, consumption, key players, and impacts. It discusses that worldwide oil consumption is expected to be around 88 million barrels per day in 2011. It also outlines that OPEC member countries work together to regulate global oil supply and prices. For India, the document notes that around 36% of energy needs are met by oil and gas, with over 70% of oil consumed in India being imported. It also discusses the impact of high oil prices on the Indian economy, such as higher inflation and a growing subsidy burden.
Ghana has significant oil reserves that were first discovered commercially in the 1970s. Production was negligible until the 1980s and early 1990s when several foreign firms began prospecting and some initial production began. Ghana established the Ghana National Petroleum Corporation to promote exploration. Several upgrades were also made to oil refining and distribution infrastructure during this time period. More recent discoveries in the late 2000s significantly increased estimated reserves. Ghana now has over 5 billion barrels of oil reserves, making it one of the largest in Africa. However, production and distribution capacity has struggled to keep up with growing demand. Expanding and improving these areas remains an ongoing challenge.
Similar to Ideas In Collective Energy Security Detailed Project Concept Document (20)
The ideas contained in this presentation are of a strategic nature and concern a possible future direction of India’s Energy sector and its various de-carbonization and Net Zero pathways.
The Indian East Coast Energy Corridor (ECEC) is not just an energy security project. In fact, it changes a lot of things, within India’s future energy landscape as it changes not just how and from where we will import petroleum products and export future Green Hydrogen volumes, but it also includes a comprehensive decarbonization and net zero plan for Industry. The plan also stipulates how a significant part of $ 480 Billion in investments in clean energy and next generation technologies can be financed through the design of Innovative hybrids. All of this can be expected to guide national energy policy into the 2040 – 2050 decade.
The proposed investments in deep clean tech projects within ECEC, in batteries, green hydrogen, solar and both onshore and offshore wind are over four times the proposed investments in conventional oil & gas. The only reason the conventional oil & gas component (Part 1) within ECEC is large, is that serious geopolitical issues in India’s neighbourhood were ignored while planning pipeline and logistics networks, over the last 40 years. This is because industry took a US / European energy construct (in Strategic Reserves & pipeline routes for instance) and applied these to India without taking our unique challenges into account.
ECEC’s massive clean energy component includes Digital strategies (i.e the MIT concept) and Industry 4.0 business models to de-carbonize hard to abate sectors such as oil refining, cement and steel and proposes a new, sustainable energy plan for the Himalayan region and for the protection of glaciers. ECEC also has a very large international component and an innovative, US $ 60 Billion financing mechanism for its clean tech components, including green hydrogen. Financial innovation is a key distinguishing feature of this project.
The document proposes the East Coast Energy Corridor (ECEC), a six-part initiative to transform India's energy sector. Part 1 involves a 100 million metric tonne per annum East-West swing refining system and related infrastructure along India's east coast, costing $100 billion. It aims to balance development on both coasts, improve fuel transport to eastern states, and incorporate dual-use infrastructure to enable an energy transition. The proposal overviews the six components and previews the clean energy and sustainability aspects covered in parts 2-6, including green hydrogen, battery factories, decarbonizing industries, and international collaboration.
The Mumbai Eastern Waterfront is one of the Worlds Largest Waterfront Development Projects.
Specifically it is an example of a Clean Energy - Smart City Hybrid
Dear Colleagues,
Attached is the presentation of Part 1 of 6 of the Indian East Coast Energy Corridor project.
This is a project that changes a whole lot of things in India’s Energy Industry and its Decarbonization pathways.
Though the project looks large, it needs to be seen in the context of the Large Aircraft orders being placed out of India which is becoming the New centre of Global growth.
PROJECT COMPONENTS
Part 1 which is being shared now, is known as the East -West Swing Refining System.
It includes Conventional Oil & Gas components and certain De-carbonization components that will help seamlessly Transition India to a Net Zero economy by 2045, much earlier than the 2070 target committed at COP 26.
The remaining parts 2 – 6, that will follow shortly, will be designed to Execute on the following themes :
Part 2 : Green Hydrogen projects & Battery Giga Factories
Part 3 : Restoration of Himalayan habitats and Glaciers
Part 4 : Digital interventions in Mobility, Industrial de-carbonization and Net Zero.
Part 5 : International projects (1) Hadron Collider and (2) Collaborative Energy Projects in other Countries to feed into the East Coast Energy Corridor.
Part 6 : Financial innovation to create exciting Green Hydrogen (GH2) projects
DE-CARBONIZATION, SUSTAINABILITY & NET ZERO
The main problem that the East Coast Energy Corridor is trying to solve can best be summarized in the following question :
How do we raise the standard of living on 600 Million Indian citizens living at the subsistence level, to Middle Class status without Ruining the Environment ?
This is the problem I have tried to solve in Parts 2 – 6 of the East Coast Energy Corridor which will be shared sometime soon.
Part 1, is mainly about Conventional Energy as India’s Petroleum fuels infrastructure first needs to guarantee energy security (a functionality which it lacks today) while also laying the Foundation for a National Energy Transition at Scale.
Overall, the attached Deck constitutes a Strategic discussion note on National Energy Policy which can be expected to provide a few pointers for India’s Energy Industry well into the 2040 – 2050 decade, besides being a Lighthouse project for the rest of the world.
Thank you for your time.
Sincerely,
Ashish Puntambekar
Project Architect
The East Coast Energy Corridor
www.x36falcon.com
The document proposes unlocking $1.25 trillion trapped in Indian cities through a new policy with two parts:
1) Releasing $1.25 trillion by monetizing land value in cities from three sources: $50 billion from central/state govt land, $300 billion from converting agricultural land to urban land, and $900 billion from rezoning cities.
2) Implementing a new Land Appreciation Tax (LAT) modeled after China's successful LAT policy to increase land supply and speed up projects.
The proposal estimates $50 billion could be raised in the first phase from 2019-2024 by selectively selling 3000 acres of public sector undertaking land and using half the funds for education/
1. The document proposes seven sources of financing totaling Rs 2,21,814 crores per year to fund the operations of 30,000 new skills development centers and secondary schools under the Vivekananda Education Megaproject in India.
2. The sources include content outsourcing and online tuition business, fees from foreign and fractional voucher students, coordinated CSR funding, rent from redeveloped PSU land, a quantized Tobin tax on forex transactions, a new graduate tax, and reallocation of existing flows.
3. Financial projections and critical assumptions are provided for each source, with the overall aim of raising sufficient funds to cover the estimated yearly operations cost of Rs 2,79,
Ashish Puntambekar is a trustee of the Nataraja Foundation and heads its Design Lab. He has over 25 years of experience designing large infrastructure projects in India. Some of the projects he has designed include the Defence Industrial Corridor project and various megaprojects aimed at tripling India's GDP by 2030 through innovative financing models and collaboration between India, US, EU and Japan to create the world's largest construction market. His work seeks to maximize social impact and job creation through projects that redistribute wealth across India.
The document discusses proposals for tripling India's GDP by 2030 through large-scale infrastructure development projects. It outlines five key concepts: 1) adopting innovative financing like urban equity withdrawal to fund projects like redeveloping ports in Kolkata and Mumbai; 2) creating entrepreneurial banks to finance large projects; 3) collaborating with other countries on construction; 4) establishing a large projects office under the PM; and 5) appointing government officers through open interviews based on qualifications. Successful implementation could generate hundreds of billions of dollars in investment and create millions of jobs while also funding rural development through surplus equity funds.
The Construct India Mission is a Plan to Make India the Worlds Largest Construction Market by 2025 and simultaneously create 30 Million New Jobs.
The Construct India Mission was prepared in response to a Request made by PM Modi to citizens ... to suggest ideas which could be considered for inclusion in his speech on Independence Day
India's Defence Manufacturing Corridors as Industrial ClustersAshish Puntambekar
DMCs are envisioned as industry-university clusters that will drive innovation in defense manufacturing in India. Each DMC will consist of a lead defense developer and partners, contractors, vendors, service providers, armed forces, and up to six university departments. The system aims to develop deep linkages between these stakeholders to support a 15-year investment plan. By integrating defense contractors, suppliers, and universities, DMCs are intended to serve as a national innovation backbone and help address India's challenges with collaboration in the defense sector.
The 96 Page Concept Note describes India's New Defence Manufacturing Corridor / Defence Economic Zone Project into which the Indian Government has now made a Firm commitment to invest Rs. 40,000 Crores or US $ 6.15 Billion.
Two Defence Manufacturing Corridors are now being executed. One in Bundelkhand Region in South Uttar Pradesh and the Other along the Chennai - Bangaluru Corridor , into each of which the Central Government will now invest Rs 20,000 Crores as committed in the Union Budget of Feb ' 2018.
Ashish Puntambekar is the designer of the DEZ project which he presented to the Govt. of India which in turn decided to Execute it
Concept Presentation for the Defence Economic Zone Project ( first published in Oct ' 2014 ) which has received a Firm financing commitment of Rs 40,000 Crores ( US $ 6.15 Billion ) from the Govt. of India ... in the Feb ' 2018 Union Budget.
Two Defence Manufacturing Corridors are proposed ... One in the Bundelkhand region of Southern UP ( Uttar Pradesh ) and the other Rs 20,000 Crores will be invested by the Govt of India in enabling infrastructure along the Chennai - Bangaluru Corridor.
This is one of the Worlds Largest Construction Projects with a US $ 60 Billion Capex.
The Ahobilam Megaproject actually is composed of Four Large Projects :
1. Construction of a US $ 30 Billion Temple city in Ahobilam in Rayalaseema in Andhra Pradesh ( India )
2. Construction of a US $ 20 Billion Mega University, 9000 Acre Campus to Re-Create the Original Nalanda University in India
3. The Greening of Water Starved Rayalaseema in Andhra Pradesh through the creation of a dense forest using Israeli Technology
3. Setting up a US $ 10 Billion Disneyland, 160 Km north of Ahobilam and close to the Sreesalem Dam on the Krishna River
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Understanding how timely GST payments influence a lender's decision to approve loans, this topic explores the correlation between GST compliance and creditworthiness. It highlights how consistent GST payments can enhance a business's financial credibility, potentially leading to higher chances of loan approval.
Economic Risk Factor Update: June 2024 [SlideShare]Commonwealth
May’s reports showed signs of continued economic growth, said Sam Millette, director, fixed income, in his latest Economic Risk Factor Update.
For more market updates, subscribe to The Independent Market Observer at https://blog.commonwealth.com/independent-market-observer.
How Does CRISIL Evaluate Lenders in India for Credit RatingsShaheen Kumar
CRISIL evaluates lenders in India by analyzing financial performance, loan portfolio quality, risk management practices, capital adequacy, market position, and adherence to regulatory requirements. This comprehensive assessment ensures a thorough evaluation of creditworthiness and financial strength. Each criterion is meticulously examined to provide credible and reliable ratings.
A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
In a tight labour market, job-seekers gain bargaining power and leverage it into greater job quality—at least, that’s the conventional wisdom.
Michael, LMIC Economist, presented findings that reveal a weakened relationship between labour market tightness and job quality indicators following the pandemic. Labour market tightness coincided with growth in real wages for only a portion of workers: those in low-wage jobs requiring little education. Several factors—including labour market composition, worker and employer behaviour, and labour market practices—have contributed to the absence of worker benefits. These will be investigated further in future work.
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
STREETONOMICS: Exploring the Uncharted Territories of Informal Markets throug...sameer shah
Delve into the world of STREETONOMICS, where a team of 7 enthusiasts embarks on a journey to understand unorganized markets. By engaging with a coffee street vendor and crafting questionnaires, this project uncovers valuable insights into consumer behavior and market dynamics in informal settings."
Optimizing Net Interest Margin (NIM) in the Financial Sector (With Examples).pdfshruti1menon2
NIM is calculated as the difference between interest income earned and interest expenses paid, divided by interest-earning assets.
Importance: NIM serves as a critical measure of a financial institution's profitability and operational efficiency. It reflects how effectively the institution is utilizing its interest-earning assets to generate income while managing interest costs.
4. Changing industry structure with a storage play
Rev 3
Concept Paper
Ashish Puntambekar
Project Visualizer January 2008
Towards Indian Energy Security
1.1 Setting the right priorities
4
5. Talking about energy security has become a fashion. Every now and then there is a
conference on the subject or someone writes a scholarly article. The flavour of the
season could be “ equity oil ” ( buying stakes in oilfields overseas ) or it could be
“ renewables ” such as Solar / Wind energy. Sometimes the discussion is about high oil
prices ( WTI crude just touched $ 100 / Bbl ) being a threat to our energy security. As far
as conferences go , there usually is a big function , a nice lunch and then everyone goes
home. The scholarly studies on their part present the reader with voluminous sets of
data and they make detailed comparisons of various options. As the reader approaches
the last page, however , he / she is usually left wondering whether there was anything
worth implementing in what was just read. In that respect , this paper is very different …
hence the title “ Concrete Measures ”.
Achieving Energy security is a serious issue. It is projected that by 2020 India’s
dependence on imports will rise to 92 % from the 70 % levels we are at today. The
Indian economy is therefore getting increasingly vulnerable to supply disruptions and this
has serious implications on our sovereignty from a military and economic standpoint.
The only notable, large scale, policy initiative of the government that has led to tangible
energy security is the NELP ( New exploration & Licensing Policy ). This initiative which
was flagged off in 1997-98 has already yielded good results and has led to the discovery
and development of large scale gas reserves on the east coast of India. The Reliance
Industries promoted KG D6 project for instance will lead to nearly doubling of indigenous
natural gas supplies in the country from 88 MMSCMD currently to almost 166 MMSCMD
by mid 2008. More oil and natural gas discoveries by others are expected under the
NELP and this will lead to enhanced energy security and a reduction in the energy
intensity of the GDP. It is to be noted that NELP has succeeded because it was based
on the principles of free markets which attracted investment.
The recent successes in discovering indigenous natural gas reserves however do not
provide any security in the supply of critical transportation fuels and feedstock inputs to
Indian refineries. There is therefore a very urgent need for a government promoted PPP
( Public Private Partnership ) project which encourages the private sector to work with
government companies to deliver a large project that can guarantee National energy
security. This will bring new ideas to bear on the issue and lead to the construction of the
necessary secure infrastructure in the area of transportation fuels.
For the purposes of this paper , energy security has the conventional meaning which
countries like the US , Japan, some within Europe and more recently China have
adopted which aims to create a large buffer stock of not only crude oil ( to feed
refineries) but also petroleum products.
There has been a small move in the direction of strategic reserves , by the Government
of India, which ,acting through the Oil Industry Development Board ( OIDB ) has set up “
The Indian Strategic Petroleum Reserves Limited ( ISPRL ) ” . ISPRL’s initial mandate is
to set up a strategic crude oil reserve of 5 Million metric Tonnes , equivalent to 19 days
of imports ( basis demand in 2006–07) . The company has since proposed 3 different
locations for the setting up of the reserves.
Sl. Location Capacity
No. ( Million Barrels )
1. Mangalore ( Karnataka ) 10.95
2. Visakhapatnam ( Andhra Pradesh ) 7.30
5
6. 3. Padur ( Karnataka ) 18.25
Total 36.50
As this paper goes to press, The Ministry of Petroleum & Natural Gas, is all set to award
the first contract to construct 2 underground oil storage caverns at Vizag. The site
selected for the reserve has already received environmental clearance and land
acquisition is almost complete. The site will store high and low sulphur crudes in a 70:30
ratio. This reserve however is smaller than those planned at Mangalore and Padur
(which is 40 Km from Mangalore ).
The government of India has so far approved a total investment of US $ 2.85 Billion for
the creation of the 36.5 Million barrel reserve which is expected to be built over the next 9
years. Annual operating costs for the programme are estimated to be US $ 20 Million.
The government has been planning the emergency reserve since the mid-1990s, but
disputes over funding and ownership have hampered progress. So , in effect as the
strategic oil storage available currently is zero , the only real buffer capacity that India
has is the oil inventory that is maintained with the individual Indian refineries to support
their normal operations.
Existing commercial storage available with oil companies in India
Million Barrels Import Basis ( days ) Demand Basis ( days )
Crude 54.75 34 23
Products 55.30 54 37
Total 110.05 88 60
Basic Data : 2004 -05 in Million Barrels
1 Tonne Crude : 7.3 Barrels
Source : ISPRL/ OIDB 1 Tonne of Products : 7.9 Barrels
As can be seen from the table above, India has just 23 days of crude oil inventories and
37 days of product stocks at any point in time. This is an extremely alarming situation to
be in.
This paper will therefore examine the options that ensure the availability of crude oil and
finished petroleum products to meet the needs of the country and its surface transport
requirements in the event of the occurrence of any of the following :
1. An international event like the closure of the Suez canal ( July 1956 ) or
a 9 / 11 kind of event that disrupts markets
2. An export facility outage in a major supplier country or a closure of the Straits
of Hormuz for any reason or
3. A large import terminal / port outage within India
To cater to the needs of India as dictated by the above possibilities, there is a need for
conceptualizing and designing a project which ensures that a disruption on account of
any of the above factors does not harm the growth prospects for the economy which is
currently registering an 8 % plus GDP growth rate. To be feasible , the solution must be
based on current global energy industry realities, exporter country strategic needs and
the unique needs of India given its current financial position and growth plans over the
next 20-30 years.
6
7. 1.2 The Answers ? Do we have any ?
Yes we do. A possible answer, as spelt out in this paper matches the opportunities in the
global energy industry and the worlds economic surpluses among oil exporting countries
with a need which is specific to India. In doing so it devises an innovative financial
structure and a funding mechanism that while addressing market realities and the
current geopolitical context generates a solution that meets the needs of all market
participants in a unique way. Central to this solution is financing the storage facilities ,
pipelines and the massive crude oil inventories ( valued at US $ 36 Billion @ at a crude
oil price of $ 60 / Bbl ) in a manner that distributes ownership and risk in a fair and
transparent manner.
1.3 Current Global Energy Market Realities
Commodity prices suddenly started shooting up towards the middle of 2003, driven in
the main, by demand from China as that country moved to dramatically expand its
economy. The patterns were seen first in metals like tin and zinc and in oil. It’s a trend
that has continued as demand from other countries including India and several in the
middle east started picking up. This demand acceleration , has been accompanied by
enhanced geopolitical risk in oil producing countries in the Persian Gulf and in countries
such as Nigeria where production has dropped sharply due to ethnic conflict. High oil
prices have also been driven by a weakening in the US dollar ( which is the invoicing
currency for a majority of production ) and the actions of speculators in the financial
markets who have been actively involved in playing the entire forward curve.
The massive increase in the price of oil ( basis WTI ) from $ 31 / Bbl as an average for
2003 to $ 100 / Bbl at the beginning of 2008 has resulted in huge surpluses in producing
nations. The GCC countries alone have earned a windfall US $ 600 Billion in 2006.
Going by the fact that the Saudi government is able to balance its budget at an oil price
of approximately US $ 35 / Bbl, it is therefore quite believable that the GCC states have
finished the year with a net investible surplus of US $ 170 Billion in 2006 alone.
Since oil prices have been rising since 2002 , the investible surplus has been
accumulating at an increasing rate and is now looking for suitable destinations both
within the middle east and in other geographies.
1.4 Exporters Paradox
Ever since Churchill, as First Lord of the Admiralty, took the crucial decision to switch all
the ships of the Royal Navy to oil fired furnaces from coal which they were using, the
middle east has been an area of conflict. Today , there are clear signs that the conflict
will escalate as Iran seeks to develop its nuclear capability. This has given rise to
legitimate fears that the Persian Gulf might be closed to shipping , every now and then ,
due to a possible blockage of the Straits of Hormuz due to a war in the region. This is a
big worry for all countries and not just those in the Persian Gulf.
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8. While the current high oil prices are good for the exporting countries concerned in the
short term , they do however create long term problems of market share as other
energy alternatives become viable at an oil price over US $ 60 / Bbl. It is therefore not in
the long term interests of oil producing countries to have the market trade at current
levels. It is thus to be expected that these countries will take executive measures that
remove the risk premium ( related to geopolitical incidents ) and the resulting volatility
out of the oil market so as to ensure price stability and long term market share for their
production. There might even be a need for OPEC to collectively evolve a strategy which
while giving members an adequate surplus caps oil price at a level of $ 60 / Bbl.
To secure its energy infrastructure , Saudi Arabia has been spending close to US $ 2
Billion a year to guard its oil terminals in the Persian Gulf as also its giant central oil
processing plant at Abqaiq. The Kindgom has also spent huge amounts in building
backup pipelines to an export terminal located at the Red Sea port of Yanbu. All this
money however still has not provided the Saudi’s with a viable alternative to their main
trade route via the Straits of Hormuz. Other Persian Gulf countries do not have any such
alternative. So, going forward , high oil prices and a possible prolonged blockage of
their main trade route are the main risks that Persian Gulf states will be very keen to
mitigate.
1.5 The Indian Need
India is growing fast. Last year , a survey of some 600 companies by the NCAER found
that an astonishing 96 % of them were operating at close to their optimal levels of
capacity utilization. Demand is surging and therefore over the next 5 - 6 years , we can
expect an investment in excess of US $ 450 Billion in the creation of world class
infrastructure across the country. These investments are not an option , they are
required to prevent the economy from hitting major roadblocks and heating up. While
most of this money will be generated within the country by the expansion of the banking
sector and the capital markets, some of it will come in from overseas investors interested
in taking part in the action on the ground.
Growth of the kind described above cannot happen through small projects. A market of
1.2 billion people is opening up at a rapid pace and India is setting itself up as a regional
superpower. So, while a majority of the investments will be in infrastructure sectors like
roads, ports , urban development schemes and social infrastructure projects such as
hospitals and schools , the energy business will also see huge sums being invested in
power plants and oil & gas infrastructure such as refineries, oil storage facilities , LNG
terminals and pipelines. For the energy industry planner, a crucial question to be
answered will be “ How do we raise the living standards of 400 million people at the
subsistence level to middle class status without ruining the environment.”
100 % availability of energy resources is necessary to deliver robust growth. This kind of
availability needs a large project that guarantees energy security . .As described earlier,
there has been only one small attempt at building strategic storage facilities in Vizag and
Mangalore but the initiative has not really delivered a meaningful solution due to the
inadequacy of resources that are required to fund the extensive storage infrastructure
as well as the inventory which as current oil prices would be worth close to $ 90 million
for every million barrels of a crude cocktail.
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9. The need for large strategic storage of crude oil is not the dispute. What is missing is a
dedicated effort aimed at finding innovative financial solutions that could make the
reserve a reality.
2.0 Project Concept :
Given the need of GCC countries and others in the Persian Gulf to ensure access to
market even in times of conflict ( which now appears likely ) and to maintain long term
market share in an era where energy alternatives could predominate ( Crude Price > $
60 Bbl ) , it might make sense to marry the needs of GCC states with India’s need to
have a strategic reserve to create a project that meets the needs of all the stakeholders.
In addition , as the Indian west coast lies close to the shipping lanes of most GCC
markets, there would be a minimal need to alter course for moving cargoes in and out of
storage.
Fig 1. Proposed Reserve and its transport
System.
GCC countries with their huge investible surpluses might be open to the idea of a large
reserve outside the region located in a neutral and stable country such as India from
which they could continue to supply the oil market globally even at times when the
Persian gulf is blocked to traffic. The idea, itself “ of storing Persian Gulf crude in India “
is not new as it has been mooted earlier by others. Its only now , however that it could
be the right time for the oil industry to think in terms of a large Middle East strategic
production reserve located on the Indian west coast , 700 Km south of Mumbai. The
rationale for this project is compelling and the argument for its construction is simple.
Such a project will be of immense benefit to Persian gulf producers and their customers
all over the world.
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10. 3.0 Financing
The classical strategy on reserves in consuming countries up to the year 2002 had been
to build them in the $ 16 / Bbl - $ 25 / Bbl range. We are clearly out of that territory now
and the US has been building reserves even at $ 65 + / Bbl .
But this particular project is a producers reserve and not a consumers reserve. This
subsumes that the current oil price would make no difference to oil producers as they
would simply be moving oil out of one storage tank ( the oil field ) to another storage tank
outside the Persian gulf. The only additional thing they will be doing is taking a forward
view on the freight rate between the oil field and the south India based storage which
anyway lies close to their direct trade route to destinations in the US or the far east.
Saudi Arabia and Kuwait with spare capacities could then keep pumping into the reserve
and always operate at full capacity ( but especially during the second quarter of each
year when global oil demand drops by close to 1.5 Million Bbls / day ) till their self
determined levels of reserves are attained.
If demand comes off for whatever reason … be it a US housing sector led slowdown or
an Avian Flu pandemic , oil producers could use the period of demand hiatus to fill up
the producers reserve. This is clearly a very long term plan but as we look at an ever
more volatile market it appears to be an idea whose time has come.
The financing of a large project such as the one being proposed is always challenging.
Any financial structure, to work, must be equitable in its distribution of risk . To achieve
this , it is being proposed to split the entire project into two Special Purpose vehicles or
SPV’s so as to clearly demarcate ownership and the boundaries at which price risk and
title to the crude oil passes between project participants . The project documents must
also clearly spell out the conditions under which oil in the reserve can be used by Indian
companies and the rights and responsibilities of all parties to the project agreements.
This also needs to be tied into a clear and transparent enforcing mechanism which is
seen as fair to everyone involved.
The two SPV’s that are being proposed are :
- The Petroleum reserve SPV …. 600 Million Bbls ( built in 3 phases ) + Marine
evacuation system
- The Transportation system SPV … 2500 Km of crude oil pipelines + 2400 Km of
multiproduct , bi – directionally flowing pipelines
3.1 Petroleum reserve SPV
SPV1 will consist of the petroleum reserve and will be wholly owned by the GCC states and
any other supplier country which wants to participate . The Indian government will take a token
equity stake in this project company to provide comfort to investors.
There are a few defining features for this reserve :
1. It will be owned by the national oil companies of the Gulf Cooperation Council plus
any other producer country that they invite to join them … The reserve however will be
operated by a local arm ( Indian entity ) set up specifically for the purpose. The entire
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11. reserve, for Tax purposes can be treated as an SEZ or a bonded warehouse where no
Indian taxes will be payable.
2. The main objective of the reserve for the GCC states would be to stabilize GCC
member states revenues from oil sales and allow them to sell oil to their customers
even when the Persian Gulf is closed to traffic for any reason. The first phase of the
project will be accelerated and will be commissioned by 2014 with 300 Million Barrels
in its tanks.
3. The reserve will also provide security of supply to refiners around the world . It will put
in place an effective price cap on oil price at a level acceptable to GCC / OPEC and its
constituents ( say $ 60 / Bbl ). Such a cap will help maintain OPEC market share which
is bound to get eroded at prices in excess of $ 60 / Bbl crude ( it is well known that at
this level almost all alternate energy sources become viable ).
4. The arrangement while meeting GCC country needs must not compromise Indian
energy security. There should be a clear understanding that oil from the reserve will
be supplied to Indian refineries / oil companies in the event of a national emergency at
market prices. On the occurrence of specified events, the arrangement should provide
a mechanism which results in shared ownership rights to the government of India for
the specific period of the disruption or till the Force Majure continues.
5. The reserve will serve as a stabilizer of last resort in the event of a major market upset.
In this regard , the reserve could function like the International bank of settlements in
that one crude producer may borrow oil from another producer and supply crude from
that producers tanks provided API gravity and sulphur content / TAN are compatible
with their client refiners needs.
6. A unique feature of the reserve would be that it could help increase availability of
Brazilian / Mexican and African crudes to Asia as producers in these countries could
store crude oil in India in times of slack demand and ship it out to consumers in Asia at
short notice. The reserve will also help to even out the fluctuations in the Light – Heavy
differentials.
7. The reserve could be filled by member states utilizing their spare capacity and also by
others at times when global demand dips as in the 2 nd quarter of every year .
Member countries will also have the option of pumping at full capacity all year round as
long as there is capacity in the tanks to accommodate their crude oil. The reserve can
also be augmented when there is a fall in demand triggered by a possible coming off of
the US housing market and other such causes. This could result in the reserve getting
filled up very quickly.
8. Project site will be spread over 30,000 – 45,000 acres . Preferred location is degraded
forest land with natural gullies / small valleys. Once constructed , a lush forest cover
will be built above the tanks using modern forest management methods.
3.2 The Pipelines SPV
The pipelines Special Purpose Vehicle (SPV 2) will be a consortium of Indian energy
companies and strategic investors some of whom will be investing primarily for tax purposes.
This SPV will therefore be owned primarily by Indian companies while SPV 1 which will be the
storage SPV will be owned by oil exporting countries.
There will be two broad categories of pipelines within SPV2.
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12. The first network will consist of crude oil pipelines which will connect the strategic storage to all
Indian refineries.
The second network of pipelines will be product pipelines , but with a difference. Unlike
conventional product pipelines , these will be multiproduct , bi-directionally flowing lines. Under
normal or steady state conditions , they will carry petroleum products from Indian refineries to
target markets all over India . All these product pipelines will operate under the common carrier
principle and investors will receive dividends which will be exempt from incidence of tax.
The special feature of these pipelines will be that they will be enabled for bi-directional flow
and will be configured to enable imports from the Indian east coast in the event of either a
process upset in any Indian refinery or if any west coast port / import terminal for petroleum
products gets damaged for any reason. By throwing a single switch it will be possible for a
remote operator sitting hundreds of miles away to enable the pipeline system to accept
petroleum products at a designated terminal ( to be decided ) on the east coast and move
products in the reverse direction to markets all over India. This system is necessary because in
times of a national energy crisis , the immediate need is for transport fuels like petrol and
diesel and not crude oil.
The overall financial structure and the basis for the project documents is given below.
Fig 2.
Overall project structure
3.3 International Institutional / Legal Framework with two distinct SPV’s .
For the scheme to work and to guarantee the transactions leading to the creation of the
reserve, its operation as also the payments into and from the Escrow accounts , it might
be necessary to provide investor comfort by way of involving organizations such as the
International court of Justice in the Hague or some other organization having sufficient
credibility to guarantee the agreements. Alternately it could be a committee of nations
with shared interests outside of the OECD ( The IEA already has huge reserves and
could constitute a monopoly ) who can act as guarantors acceptable to all concerned
parties.
3.3 Tax Incentives needed to encourage investment in this Project
Since the storage facilities and pipelines are extremely capital intensive and require
massive upfront investment which by itself is not economically sustainable, the central
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13. government should provide tax and policy incentives to facilitate investment in this
essential national energy security infrastructure besides providing some minimum
viability gap funding under the PPP route. Government should provide strong policy
support for this project as it lays the foundation for a robust economy and also
constitutes an essential step towards making India a de-facto regional superpower.
The entire project ( Storage SPV + Transportation SPV ) needs to be notified as an
infrastructure project for the purposes of tax under :
a. Section 80 IA … 10 year Tax holiday on revenue. In addition the SPV 1
Project area needs to be notifies as an SEZ or a bonded warehouse of
some sort where no Indian taxes will be payable.
b. Section 10 ( 23 G ) read with Section 115-O … Allowing exemption of
dividend distribution tax to domestic companies
c. Exclusion from the incidence of MAT ( minimum tax on book profits @ 7.5
% ) by removal of section 115 JB for companies eligible for 100 % tax
holiday under sections 80 – 1B.
d. Exemption of sales tax / work contract tax / services tax for vendor
provided goods and services
e. Both the project companies should also be allowed accelerated
depreciation and 100 % depreciation of asset values in the first year itself
for tax purposes as a one time write off.
In addition to the above, both project SPV’s need to be notified as infrastructure projects
to enable them to seek exemption from customs duties by issuing appropriate customs
notifications for project related imports. Purchases from the domestic tariff area ( DTA )
should also be freed from the incidence of excise duties. Entry tax which is applicable on
project material in some states needs to be exempted as well.
Indian entities will be greatly encouraged to participate in this project if there is a special
provision that enables them to take an equity stake in this particular project by
implementing a tax optimization structure which allows equity in the pipeline / storage
SPV to qualify for deduction from corporate tax to the tune of 100 %. For example if an
Indian company were to invest Rs. 100 crores in either project company, it will also get a
Rs. 100 crore deduction in its corporate income tax besides equity rights in the project
company.
4.0 Conceptual Engineering / Design Issues
It is necessary to understand the engineering issues involved in the construction of the
reserve as these will have an impact on the cost which needs to be kept as low as
possible.
4.1 Comparative Construction Costs
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14. The Strategic Petroleum Reserve ( SPR ) of the United States currently holds
approximately 727 million barrels of crude oil in massive underground salt caverns. The
62 cylindrical tanks have been carved out of huge salt mounds that are located
approximately 2000 ft below the surface and have an average height of 2000 feet and
width of 200 feet. Warm fresh water was used to leach out the salt which was then
discharged into the gulf of Mexico. Using a simple water hose and nozzle as a
construction tool greatly reduced construction costs and this resulted in the lowest
possible construction cost of US $ 7 / Bbl.
Unfortunately , we in India, have not as yet found large salt deposits ( except maybe in
Rajasthan where a huge salt formation is believed to exist. This however needs to be
investigated further ) in which we can store crude oil or petroleum products. We however
do have natural gullies / small valleys and undulating landscapes which could be used
as natural storages which require minimum soil and rock excavation. When done on a
large scale the costs could be very low.
The engineering solution chosen usually depends on the storage method selected
(land based / sea based). For the purpose of this project however only land based
storage is being considered as the life cycle costs and maintenance expenditure
required is considerably lower.
For land based projects again the optimum design will depend on the geology,
permeability and settlement of in – situ soils, ground water levels and size and type of
tank. The design will also depend on the type of product to be stored.
The engineering schematics below pictorially convey what is involved. Schematic A
appears best suited to Indian conditions and might be the lowest cost option available
especially if done on the large scale that is envisioned. If built on degraded land, after
construction , we can cover the site with soil and build 30,000 – 45000 acres of rich
forest cover on it. The concrete storage tanks also provide large scope for innovation as
instead of steel we could use carbon fibre, which has far greater tensile strength than
steel as reinforcing material in the concrete. It also has zero corrosion problems. The
site could also use recycled plastic as fill material on a truly massive scale. This could
therefore be the largest environmentally friendly project globally.
Earthquake risk is minimal since the tanks have a special long lasting polymer fabric
lining both the inside and the outside which provides effective containment.
4.2 Engineering Solutions for Strategic Storage
14
15. Fig 4.
Schematic A is recommended
for India.
Schematic B is rock cavern
storage and very expensive.
Schematic C is the Kamitogo
giant floating storage facility in
Japan which can store up to 1
week of Japanese demand.
This option however is not
suitable for India and is shown
here for academic interest.
4.3 Project Cost Estimates
Approximate project costs calculations below exclude the cost of land.
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16. 5.0 Project Protection
The project is proposed to be located near Mangalore on the west coast of India.
Advanced naval ordinance including naval aviation units working out of the large
Indian naval base at Karwar, 270 Km to the north will be responsible for the
protection of the strategic reserves marine assets. Missile units of the Indian Army
will secure the underground facility which will be located in the hinterland .
6.0 Environmental Issues
Since the storage itself is going to consist almost completely of underground storage
tanks , it will have no adverse impact on the environment as the containment is
secure against even earthquakes. The marine part of the project ( SPM’s and
underwater pipelines ) are standard equipment and have a proven safety record.
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17. The project overall will be designed to be net – net positive to the environment as
some 30,000 – 45,000 acres of new forests will be grown at different locations
based on where large tracts of degraded forest / land is available.
7.0 Forward Path
There are no major show stoppers that could come in the way of making the reserve
as conceptualized above a reality. Getting the initiative off the ground quickly is
important and for this it is essential for the Ministry of Petroleum and Natural Gas to
work with the Finance Ministry and the Prime Ministers office to get a high level
team of energy industry experts to visit countries in the Persian Gulf to get their oil
ministers on board. The role of the Ministry of Finance in this project is critical and it
is hoped that since the financial outflow and budgetary impact of the project
( especially SPV1 ) is extremely low , they will find the project worth supporting as
the scheme has solved the fundamental problem of financing the reserve.
“ Determine that a thing can and shall be done , and then , we will, find a way ”
– Abraham Lincoln
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