Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2018-04-11 13:30:00

INDIA WANTS $50

INDIA WANTS $50

BLOOMBERG - Oil's rally to $70 a barrel is threatening to clip India's economic wings at a time when Saudi Arabia is looking to join a $30 billion refinery project in the world's fastest growing market.

The South Asian nation wants to see prices at about $50 a barrel in order to manage its finances better, Oil Minister Dharmendra Pradhan said in an interview. Meanwhile, Saudi Arabia -- which is said to be aiming for oil near $80 to pay for its own crowded policy agenda -- is planning to sign a deal to participate in a refinery on India's west coast as part of its strategy to secure sources of consumption for its crude.

While Indian Prime Minister Narendra Modi's administration reaped the benefits of the biggest price crash in a generation during its first term in power, oil is recovering as the government gears up for elections in 2019. Saudi Arabia, the world's biggest crude exporter, is preparing for an initial public offering of its state-run producer and leading efforts by OPEC to curb output and eliminate a global glut that spurred oil's decline.

"We are a very price-sensitive consumer,'' Pradhan said on Tuesday. "From Indian consumers' point of view, I will be more than happy if the price is around $50 a barrel.'' Saudi Arabian Oil Co., known as Saudi Aramco, has agreed in principle to join a proposed 1.2 million barrel a day refiner on India's west coast, he added.


Refinery Deal

Saudi Aramco's Chief Executive Officer Amin Nasser will sign a memorandum of understanding on Wednesday for the project with RRPC, or Ratnagiri Refinery & Petrochemicals, a consortium consisting of state-run refiners Indian Oil Corp., Hindustan Petroleum Corp. and Bharat Petroleum Corp., said a person familiar with the matter who asked not to be identified before an official announcement.

Aramco may take a 50 percent equity stake in the project and can bring in another strategic investor, the person said. Nobody immediately replied to an email seeking comment sent to Aramco's press office outside regular business hours.

"Things are on the table, we are discussing with each other," Pradhan said, referring to Saudi Arabian participation in the project. "It has to be a win-win situation for both. It must be acceptable to them, it must be profitable for me also.'' He confirmed on Wednesday that a preliminary deal will be signed with Aramco.

Saudi Arabia has been edged out as the top oil supplier to India amid an intensifying race among producers to retain their most-prized markets. India, which imports about 80 percent of its crude requirements, has been diversifying its sources of oil supply and is seeking more favorable terms from producers in the Middle East.

Saudi Strategy

The potential partnership in India would be an extension of Aramco's strategy to lock up market share by investing in refineries in Asia, the region that's driving global oil demand growth. Over the last few years, the Middle East kingdom has committed billions to projects in Malaysia and Indonesia, as well as a new refining and petrochemical plant in China.

Saudi Arabian Energy Minister Khalid Al-Falih is scheduled to speak at the 16th International Energy Forum in New Delhi this week, along with other Middle Eastern countries' ministers.

-----

Earlier:

 INDIA'S OIL INVESTMENT: $22 BLN
2018, April, 2, 09:10:00

INDIA'S OIL INVESTMENT: $22 BLN

REUTERS - Indian Oil Corp plans to invest 1.43 trillion rupees ($22 billion) in next five years as the country’s top refiner seeks to raise its annual capacity to about 3.2 million barrels per day by 2030,

 

 

 INTEGRATED INDIAN OIL
2018, February, 7, 07:55:00

INTEGRATED INDIAN OIL

PLATTS - "The integrated entity will have the capacity to neutralize the impact of volatility in global crude oil prices," said oil minister Dharmendra Pradhan. "The integrated entity will have the advantage of having enhanced capacity to bear higher risks and take higher investment decisions."

 

 THE SLOWEST INDIA'S OIL DEMAND
2018, January, 10, 12:50:00

THE SLOWEST INDIA'S OIL DEMAND

BLOOMBERG - The nation’s consumption of petroleum products rose 2 percent to about 200 million tons, the Oil Ministry’s Petroleum Planning and Analysis Cell said Wednesday. That’s the slowest since 2013, when demand grew 1.7 percent while global oil prices averaged about $109 a barrel, almost double last year’s level.

 

 INDIA'S STRONG GROWTH
2017, December, 27, 12:35:00

INDIA'S STRONG GROWTH

IMF - Since the 2011 Financial Sector Assessment Program (FSAP), India has recorded strong growth in both economic activity and financial assets, supported by important structural reforms and terms of trade gains.

 

 

 INDIA - OPEC ENGAGEMENT
2017, October, 11, 12:40:00

INDIA - OPEC ENGAGEMENT

‘India's engagement with OPEC is important as India sources about 86% of crude oil, 75% of natural gas, 95% of LPG from OPEC Member Countries.’

 

 

 IMF: SOUTHEAST ASIA'S TRANSFORMATION
2017, September, 13, 15:10:00

IMF: SOUTHEAST ASIA'S TRANSFORMATION

IMF - When we think about Asia’s economic future, we know that this future is being built on strong foundations—on the richness and diversity of its cultures, on the incredible energy and ingenuity of the people who have changed the world by transforming their own economies. China and India have been driving the greatest poverty reduction in human history by creating the world’s largest middle classes. In a single generation, Vietnam has moved from being one of the world’s poorest nations to being a middle-income country.

 

 INDIAN OIL PRICES
2017, May, 23, 15:05:00

INDIAN OIL PRICES

“India is very price sensitive. I need to ask how do I serve my citizens best. We are free to import oil from any part of the world . . . from the US and Canada, as well as more supplies from Russia.”

Tags: INDIA, OIL, PRICE
INDIA WANTS $50 September, 21, 11:00:00

OIL PRICE: NEAR $79 STILL

INDIA WANTS $50 September, 21, 10:55:00

RUSSIA'S OIL PRODUCTION: 11.3 MBD

INDIA WANTS $50 September, 21, 10:45:00

UNEXPECTED OIL PRICES

INDIA WANTS $50 September, 21, 10:40:00

OIL MARKET UNCERTAINTY

INDIA WANTS $50 September, 21, 10:35:00

OPEC-NON-OPEC DECISIONS

INDIA WANTS $50 September, 21, 10:30:00

U.S. CAPITAL EXPENDITURES UP

All Publications »

Chronicle:

INDIA WANTS $50
2018, September, 21, 10:25:00

U.S. ENERGY CASH: $119 BLN

U.S. EIA - Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18 Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014

INDIA WANTS $50
2018, September, 21, 10:20:00

WORLD OIL DEMAND: 100.23 MBD

OPEC - Total oil demand for 2018 is now estimated at 98.82 mb/d. In 2019, world oil demand growth is forecast to rise by 1.41 mb/d. Total world oil demand in 2019 is now projected to surpass 100 mb/d for the first time and reach 100.23 mb/d.

INDIA WANTS $50
2018, September, 21, 10:15:00

IRAQ'S OIL: NO RECORD

ARAB NEWS - Oil exports from southern Iraq are heading for a record high this month, two industry sources said, adding to signs that OPEC’s second-largest producer is following through on a deal to raise supply and local unrest is not affecting shipments.

INDIA WANTS $50
2018, September, 21, 10:10:00

NATURAL GAS EXPORT UP

PLATTS - The International Energy Agency expects the US to account for 75% of the global growth in natural gas exports over the next five years, a bullish outlook for LNG developers facing challenges at home getting projects off the ground and abroad with tariffs affecting trade flows.

All Publications »