Archive | Refining RSS feed for this section

Divine intervention needed

A reader of this blog has alerted me about serious problems at Mangalore Refinery & Petrochemicals Ltd (MRPL). An electrical short circuit has forced the company to stop operations at one crude distillation unit, two hydrocracker units, two visbreaker units, two sulphur recovery units and two reformers. The refinery is said to be operating at […]

Continue Reading
fight.jpg

Family feuds

It seems to be the season for family disputes and India is not the only country seeing this. Reliance Industries has company in South Korea’s Kumho Petrochemicals where two brothers are struggling to take control of the Kumho Asiana Group. Park Chan-koo, the younger brother was yesterday dismissed as chairman of the group’s petrochemical division […]

Continue Reading

Students still love IT

Indian information technology (IT) companies may no longer be queuing up at campuses for fresh graduates but engineering students continue to rank this sector above all others, according to the latest Nielsen Campus Track T-Schools study. Chemicals, not surprisingly, does not figure on the list although oil and gas was seen as the ‘industry of […]

Continue Reading

New Mangalore refinery shelved

ONGC has taken a difficult but sensible decision. It has finally shelved plans for a new 15m tonnes/year refinery and petrochemical complex at Mangalore. The project had been facing considerable resistance from the local population. In addition, questions were being raised on the viability of the project. The sharp change in the global business environment […]

Continue Reading

New Mangalore refinery shelved

ONGC has taken a difficult but sensible decision. It has finally shelved plans for a new 15m tonnes/year refinery and petrochemical complex at Mangalore. The project had been facing considerable resistance from the local population. In addition, questions were being raised on the viability of the project. The sharp change in the global business environment […]

Continue Reading

Reason to cheer

This post is for all my Indian friends who still have their jobs. ECA International expects India to see an average salary increase of around 10.8% this year, down from the double-digit growth seen in the last few years but still the highest in Asia Pacific. The average pay hike for the region is expected […]

Continue Reading

New twist in Bhatinda story

Is Lakshmi Mittal having second thoughts about participating in the Bhatinda refinery project? This report suggests that Mittal might walk out of the project if the state government does not extend fiscal incentives that had been promised a few years back. The incentives include waiver of sales tax on fuel which is said to be […]

Continue Reading

Getting off the starting block

So the government has finally approved three Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs). Now comes the difficult part. Who is going to undertake mega investments at a time at a time when the global economic outlook is uncertain, demand for key chemicals has crumbled and not many are willing to stick their neck out […]

Continue Reading

Naphtha is back in fashion

A steep drop in petrochemicals demand had dragged down naphtha prices in the last two months. But low prices have stinulated demand, not only from crackers but also from fertiliser and power plants. With naphtha below $300/tonne, some Indian fertiliser and power plants are moving away from liquefied natural gas (LNG), says this report. Imports […]

Continue Reading

Double trouble

It’s a double whammy for Reliance Industries. Not only have petrochemical margins dwindled but gross refining margins (GRM) have also fallen sharply in the last two months. One report suggests that the company recorded negative refining margins in October and November and that the GRM for the quarter ending December 2008 would be considerably lower […]

Continue Reading