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Ghost of the peak oil theory

Jun 30, 2010

Equitymaster discuss why the recent BP oil spill raises the ghost of the peak oil theory and its impact on crude oil prices.

Fuel prices to go up

Jun 25, 2010

Political compulsions will take over now that the empowered group of ministers has decided on fuel price hikes.

Budget wish list: Oil & Gas

Jun 22, 2009

It would be an understatement to say that the fortune of the Indian oil and gas sector is extremely sensitive to government policies. With the date of the Union Budget 2010 fast approaching, the industry is eagerly anticipating measures which will encourage profitable activity. Let us look at some of the key expectations:

Basics of Liquefied Natural Gas

Sep 8, 2008

As per BP Statistical Review 2008, natural gas contributes to 9% of India's energy basket. However, with greater availability and soaring prices of substitutes (crude oil), natural gas is set to gain greater importance going forward.

GAIL: The national gas grid

Sep 1, 2008

The government initiated a discussion on a new gas pipeline policy in 2004. Around this time, the development and construction of a national gas grid (NGG) of around 8,000 kms was also conceptualized on the lines of the power grid

Oil & gas: Fates continue to differ

Aug 4, 2008

A value-chain describes the flow of activities within an industry. The oil and gas industry value chain is organised into exploration (upstream), transmission (midstream) and refining, petrochemicals and marketing (downstream).

Oil & gas: Same industry, different fates

Jun 30, 2008

A value-chain describes the flow of activities within an industry. The oil and gas industry value chain is organised into exploration (upstream), transmission (midstream) and refining, petrochemicals and marketing (downstream).

Exploration of oil and gas: Opportunity and key challenges...

Mar 23, 2007

Oil and natural gas, also known as hydrocarbons, are two of the most important fossil fuels used to meet the energy requirement of the country and support economic growth. Oil and gas account for 45% of the energy requirement of the country. We currently meet more than 70% of our requirement from imports.

GAIL: Gains in the 'Pipeline'!

Mar 21, 2007

In the previous article, we had provided a brief history on GAIL and an overview of the business of the company. Taking our analysis further, in this write-up, we analyse the performance of the company over the last few years with respect to its key business of transmission of natural gas and LPG. We will also have a look at what are the potential catalysts for the transmission business of the company.

GAIL: A brief overview...

Mar 14, 2007

With increased supplies from the private sector players, the Indian gas market is likely to see heightened activity over the next 4-5 years. Recent discoveries by Reliance, Gujarat State Petroleum Corporation (GSPC) and ONGC augur well for mid-stream companies such as GAIL, which is engaged in the transmission and distribution of natural gas in the country. With this background in mind, over the next few weeks, we will try to provide an exhaustive overview of the business operations of GAIL, wit

Refining: Can India be global hub?

Mar 7, 2007

The public sector oil refining and marketing major, BPCL has recently decided to establish a trading desk at Singapore to manage its exports of refined products. This once again signifies the intent of Indian refiners to target exports and make India one of the major efining hubs in the world. Now, is the dream of becoming a global refining hub realistic?

Natural gas: Fuel for future - I

Mar 5, 2007

Natural gas is the cleanest source of energy available at the disposal of the mankind. It forms 23% of the total energy consumption globally, while in India it accounts for just 9% of the Indian energy matrix. The lower share could largely be attributed to supply side constraints. The demand side of the story continues to be buoyant with the same consistently outpacing supply. Supply side constraints were largely a factor of government regulation in Exploration and Production (E&P) along with t

Indo Rama Synthetics: Festivities delayed…

Dec 14, 2004

Indo Rama Synthetics (IRS), the largest polyester manufacturer and exporter in the country, had recently announced poor results for the quarter and half year ending September 2004. For the quarter, while the topline declined by 10% YoY, the bottomline was down by over 40% YoY. Operating margins have also witnessed a sharp dip of 320 basis points during this period.

Reliance Industries: Making the most of it

Oct 25, 2004

Reliance Industries, the country’s largest private sector player, has announced its 2QFY05 results today. While the topline has shown a robust 27% YoY growth during the quarter, the bottomline has witnessed a jump of 39% YoY. Operating margins have also improved by 110 basis points.

IPCL: All round growth…

Oct 18, 2004

IPCL has reported another quarter of strong earnings with a topline growth of 35% YoY and the bottomline improving by nearly 156% YoY in 2QFY05. However, operating margins have declined by 220 basis points during the period.

Reliance: Pros and cons

Oct 11, 2004

Reliance Industries, India’s leading private sector diversified hydrocarbons major, has witnessed gains of nearly 12% on the stock exchanges during the last quarter. However, it should be noted that during the same period, the BSE Sensex has gained 11%. In this article, we take a look at the factors that led to the gains in Reliance Industries.

HPCL v/s BPCL: Who’s the better player?

Sep 20, 2004

Post disinvestment blues, the government is now eyeing a ‘merger of sorts’ between oil companies with BPCL being merged with ONGC while HPCL falling into IOC’s kitty. The aim is to create substantial entry blocks for new private and international players. With over 22,000 retail outlets by the turn of this fiscal and only a 3% to 4% growth across the energy sector, this move seems to be a positive for the downstream oil marketing companies so as to sustain profitability and growth.

Petrochemical uptrend: Why and how long?

Sep 13, 2004

The recent hike in petrochemical product prices by the major manufacturers has just confirmed that the uptrend in the pricing cycle is far from over. In fact, the two major petrochemicals majors' - Reliance and IPCL have posted robust 1QFY05 results. We believe this trend is likely to continue, atleast till end of FY05.

Reliance: And the 'story' continues

Jul 27, 2004

Reliance Industries has declared its 1QFY05 results today. The performance can be attributed largely to the uptrend in the petrochemicals cycle and firm petroleum product prices, which have resulted in high refining margins.

Petrochemicals: A SWOT Analysis

Jul 20, 2004

The Indian petrochemicals industry is finally discarding its nascent stage tag and the companies are now vying for a major chunk of the global pie of the petrochemicals market. Indian major Reliance has recently acquired a German polyester major Trevira GmbH and this marks the private sector giant's entry into the European markets in a big way. At the same time, ONGC and IOC are planning entry into the business in a major way as this is in line with their forward integration plans.

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