Energy: Reviewing fiscal '01 - Views on News from Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Energy: Reviewing fiscal '01

May 17, 2001

Oil production, which declined in the previous two fiscal years, registered a growth of 1.4% in FY01 to 32.5 MMT. Oil & Natural Gas (ONGC), Oil India Ltd. (OIL) and private companies registered a marginal increase in oil production over the concerned fiscal. The decline in oil production for the earlier two years was largely due to a drop in ONGC's production led by the Bombay High fields. However, private oil fields registered double-digit growth over this period. Consequently, share of private producers increased from 9.2% in FY99 to 12.7% in FY01. ONGC and OIL contribute 87% of India's production with the Bombay High fields alone constituting 52% of domestic produce.

With oil production stagnating the Government introduced the NELP-I to attract investments in the sector. Under NELP-I the Government offered 22 exploration blocks and signed production-sharing contracts for the same in FY00. In FY01, the Government has offered 25 more blocks under NELP-II. The blocks on offer included 8 shallow & deep water offshore blocks and 9 onshore blocks. ONGC is reported to be amongst the more aggressive bidders in the current round and is expected to be one of the favourites. The company has bid for 18 exploration blocks.

Crude throughput during the year was 103.5 m metric tonnes (MMT) a growth of 20% YoY but below 25% registered in FY00. Imports, including crude and petroleum products, for FY01 were 81.4 MMT a growth of 6.2% YoY. India's POL import bill was estimated to be Rs 718.3 bn a significant rise of 68.6% YoY. The rise in the import bill was largely due to oil prices increasing sharply over the concerned period.

Consumption of petroleum products registered a marginal growth of 1.4% YoY to 102.5 MMT. This could be due to higher oil prices and the slow down in the economy during the second half of the fiscal. For FY01, growth in the Index of Industrial Production (IIP) and GDP dropped by 1 and 0.6 percentage points YoY respectively. The three-year compounded growth (CAGR) in consumption is 5.3%. However, consumption growth in the previous two fiscals has been above 7%.

The aggregate supply of crude and petroleum products was 114 MMT as compared 108.6 MMT in the previous fiscal. The resultant surplus in certain petroleum products, mainly petrol and diesel, was exported. Reliance Petroleum (RPL) was one of the largest exporters of petroleum products. The current fiscal is also likely to see excess in petroleum products consequently India could remain an exporter of these products.


Equitymaster requests your view! Post a comment on "Energy: Reviewing fiscal '01". Click here!

  

More Views on News

HPCL Share Price Down by 5%; BSE OIL & GAS Index Down 2.1% (Market Updates)

Sep 22, 2020 | Updated on Sep 22, 2020

HPCL share price is trading down by 5% and its current market price is Rs 192. The BSE OIL & GAS is down by 2.1%. The top losers is HPCL (down 5.0%).

The BSE OIL & GAS Index Down 2% ; OIL INDIA Among Top Losers (Market Updates)

Sep 22, 2020 | Updated on Sep 22, 2020

The BSE OIL & GAS Index Down at 12,879 (down 2.1%). Among the top losers in the BSE OIL & GAS Index today are OIL INDIA, HPCL and GAIL. Meanwhile, the BSE Sensex has plunged 0.9% to 38,210.

GAIL Share Price Down by 5%; BSE OIL & GAS Index Down 2.7% (Market Updates)

Sep 22, 2020 | Updated on Sep 22, 2020

GAIL share price is trading down by 5% and its current market price is Rs 89. The BSE OIL & GAS is down by 2.7%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 0.3%). The top losers are GAIL (down 5.0%) and OIL INDIA (down 5.4%).

MAHANAGAR GAS Share Price Down by 5%; BSE OIL & GAS Index Down 2.7% (Market Updates)

Sep 22, 2020 | Updated on Sep 22, 2020

MAHANAGAR GAS share price is trading down by 5% and its current market price is Rs 890. The BSE OIL & GAS is down by 2.7%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 0.3%). The top losers is MAHANAGAR GAS (down 5.1%).

OIL INDIA Share Price Down by 5%; BSE OIL & GAS Index Down 2.2% (Market Updates)

Sep 22, 2020 | Updated on Sep 22, 2020

OIL INDIA share price is trading down by 5% and its current market price is Rs 92. The BSE OIL & GAS is down by 2.2%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 0.2%). The top losers is OIL INDIA (down 5.1%)..

More Views on News

Most Popular

How the 8-Year Cycle Can Help Identify Multibaggers (Fast Profits Daily)

Sep 11, 2020

This is how you can apply the greed and fear cycle in the market to pick stocks.

Why am I Recommending Caution? (Fast Profits Daily)

Sep 9, 2020

This is why I have changed my short-term view on the market.

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers (Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

This Could Be the Best September for Auto Stocks (Profit Hunter)

Sep 11, 2020

Here's why I think this month could be a great for auto stocks.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE OIL & GAS


Sep 22, 2020 (Close)

S&P BSE OIL & GAS 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS