Currently, the crude oil is trading near US$ 80 per barrel. Going forward, we expect it to go further up to US$ 85 per barrel on the back of higher energy demand on global recovery. This would result in higher realizations to upstream companies like RIL, ONGC, Cairn India. But at the same time, higher crude prices would impact the profitability of downstream companies (Oil Marketing Companies) as retail oil prices...
Posted by
kamal on Jun 25th, 2009 in
Oil & Gas |
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On 23 June ’09, we came across the news that ONGC has made three oil and gas discoveries. First, the Natural Gas in the IE block in the KG basin. Second, Oil in Charada-3 in the Cambay basin. Third, Oil & Gas in Matar area in Vadodara district.
ONGC made 28 oil and gas discoveries in FY09 and the management has clarified that these 3 oil discoveries are a part of discoveries made in the last fiscal i.e. FY09....
After nose-diving from a peak of $147 to $ 33 per barrel, global crude oil prices have crossed the psychological level of $65 a barrel, a level not reached so far in 2009. So, what is the cause of this spurt in oil prices?
The very first reason is the OPEC’s success in taking a fair amount of oil off the market to balance the supply-demand picture. Since September 2008, OPEC has reduced production by around...
Posted by
tarun on Feb 4th, 2009 in
Oil & Gas |
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Gujarat Gas Company Limited (GGCL), incorporated in 1980, is India’s largest private sector player in the business of procurement, transmission, distribution and utilization of natural gas through pipelines from sources of supply to Industrial, commercial, domestic and automobile (CNG) segments. The Company also builds pipelines required to make the gas available to the end customer. The other activity of GGCL...
Posted by
kamal on Dec 11th, 2008 in
Industry,
Oil & Gas |
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Oil & Natural Gas Corporation Ltd.(ONGC), originated in 1956, is mainly engaged in the oil exploration, development and production refining, transporting and marketing of Crude Oil, Natural Gas, LPG, natural gas liquid, ethane, propane and some other value added petroleum products such as NGL, C2-C3, Aromatic Rich Naphtha and Kerosene, both onshore and offshore. It owns and operates more than 11,000 Km of...