Oil and Gas Newsletter - November 30 to December 04, 2015

This week saw Tamil Nadu-based Petroleum Companies operations affected due to heavy rainfalls. D&M submitted its final report on the gas dispute between RIL and ONGC. Petro and diesel prices were up. Kamarajar Port signed concession agreement while Fitch Ratings reported low oil prices and price regulations to have positive impact on oil and gas sector.

Dec 04, 2015 12:12 IST India Infoline News Service

Top News
IOC cuts Petrol prices by 58p/L; Diesel by 25p/L
IOC has announced that it has reduced Petrol prices by 58p/L and Diesel prices by 25p/L with effect from midnight. The price of petrol in Delhi will become Rs. 60.48 a litre, while diesel will be Rs. 46.55 a litre, Indian Oil Corporation said. Read More
D&M submits report on the gas dispute between ONGC, RIL
US-based consultant D&M has submitted final report on the gas dispute between ONGC and Reliance Industries, according to reports. Report says that natural gas worth over Rs 11,000 crore has migrated from  KG fields of the state-owned firm to the adjoining KG-D6 block. DeGolyer and MacNaughton D&M has submitted its final report to the Directorate General of Hydrocarbons DGH, senior government official said. Read More
Kamarajar Port to sign deal with IOC for LNG terminal
Kamarajar Port Ltd. KPL at Ennore and Indian Oil Corporation IOC are likely to sign a concession agreement in February for a Rs. 5,150-crore LNG import terminal, reports a business daily. The agreement is likely to be signed during the Maritime India Summit 2016, to be held in Mumbai. Read More
Reforms positive for Indian Oil&Gas; capex squeezes cash flow: Fitch
Fitch Ratings says in a new report that low oil prices and price deregulation in India's oil and gas sector will have a positive impact on the rated companies in the sector, especially those engaged in oil refining and marketing. Read More
Domestic News
Supreme Petrochem Chennai operations disrupted due to heavy rains
Supreme Petrochem Limited has announced that the operations of EPS Plant at Chennai have been disrupted due to heavy rains and floods. The expected downtime can be assessed only after normalcy return. Read More
Flood Havoc! Chennai Petroleum may shut refinery unit in TN
Rains in Chennai has caused extensive damage to life and property and hitting business as well. News reports have come out that Chennai Petroleum Corp Ltd may shut one of the three crude units at its 210,000 barrels per day bpd Manali refinery in the flood-hit southern Tamil Nadu state. Read More
Govt ceiling! RIL faces 40% cut in marketing margin on KG-D6 gas
Reliance Industries Ltd. RIL is facing a 40% cut in the marketing margin it charges on selling its KG-D6 gas to fertilizer and LPG plants after the Government notified a ceiling of Rs. 200 per thousand standard cubic meters scm, reports a business daily. Read More
Gas retailing! Gujarat Gas well poised to realize better margins
Gujarat Gas is keen towards achieving volume-driven growth in its new avatar through price rationalisation and diversification. IIFL Institutional Equities reckons that the  RasGas LNG contract on volumes margins has played out. Read More
Oil India - Benefits from no exposure to market-linked crude?
IIFL feels that the recent underperformance is over exaggerated. Despite a feeble crude oil scenario at present, the brokerage believes that OIL's earnings will be insulated from market-linked crude, as it is not exposed to it. OIL's 1HFY16 EPS is flat YoY, which shows its high level of resilience during a testing time for the industry. Read More
Overweight on India but can't ignore high valuations!
We are overweight on India given the number of factors in its favour. It is one of the best among the emerging markets with its impressive earnings growth, cushion of lower oil prices and the promise of structural reforms en route PM Modi’s full term. Read More
International News
Fitch: Mixed Outlook for U.S. midstream subsectors
Commodity price weakness continues with no relief in sight in the near term, according to Fitch Ratings. Despite this, the credit ratings and sector outlooks for U.S. pipeline and midstream assets are generally stable. However, Fitch remains negative on midstream services, particularly gathering and processing which has a negative rating and sector outlook. Read More

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