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
dinesh on May 12th, 2009 in
Industry |
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The genesis of the tower business in India is slightly different from that in the West. The operators themselves, like Reliance and Bharti, for their own use, have built most of the towers in the country. It’s only now that these companies have wisened up to the possibility of finding other operators as tenants on their towers. It’s a win-win situation for both the operator and the tower provider increasing the...
§ Bucking the general trend, the FMCG companies are likely to pull off a healthy performance for the quarter ended March 2009. Along with the growth in volumes, value growth will be the primary driver of revenues.
§ Dabur has launched three new variants of anti-dandruff shampoos under its premium hair care brand Vatika and has signed actress Preity Zinta as the brand ambassador for the Vatika shampoo range. Hair...