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Reliance pumps oil

It is finally here. After years of waiting and rumours of delays Reliance Industries has finally started pumping oil from its massive KG-D6 block of the Krishna Godavari basin. Initially about 5,000 bbls/day of crude is being pumped out although the plan is to reach 550,000 bbls/day over the next six...

Posted to ICIS Blogs (Weblog) by Anonymous on 09-22-2008
Singur saga spells trouble for India investments

I have yet to meet anyone who has not expressed disappointment at the drama unfolding outside Tata Motor's Nano plant site in Singur at West Bengal. They also concur that the episode will have serious implications for large investments in India. Violent protests have forced Tata Motors to halt construction...

Posted to ICIS Blogs (Weblog) by Anonymous on 09-05-2008
FTA woes

India and Asean are all set to implement an FTA (free trade agreement) from 1 January 2008. Both sides completed six years of negotiations yesterday and a final agreement is due to be signed in December this year. Over 400 products are on the sensitive/negative list and some chemicals have been included...

Posted to ICIS Blogs (Weblog) by Anonymous on 08-29-2008
Dow jv hits a roadblock

India's Foreign Investment Promotion Board (FIPB) has deferred making a decision on a proposed chloromethanes joint venture between a subsidiary of Dow Chemical and Gujarat Alkalies and Chemicals Ltd (GACL) as the government would like more time 'to examine the proposal', reports ICIS news...

Posted to ICIS Blogs (Weblog) by Anonymous on 08-20-2008
Can export ban curb inflation?

The Indian government's war on inflation appears to be making its way to the world of chemicals as a proposal to ban exports of soda ash and trim excise duties on major petrochemical inputs is being considered. Soda ash prices have spiralled this year on the back of rising energy costs with product...

Posted to ICIS Blogs (Weblog) by Anonymous on 08-05-2008
Time to wake up to climate change

India is known to move slowly. So it is perhaps not surprising to read that most local companies have yet to formulate strategies to face the challenge of climate change. KPMG recently released a report on a study carried out earlier this year to understand if Indian business leaders are aware of the...

Posted to ICIS Blogs (Weblog) by Anonymous on 07-30-2008
Change is in the air

Chinks in the Chinese textile and clothing export machine have started showing with shipments to the US in the first quarter of this year declining by nearly 10% from the same period in 2007. A new report from Textiles Intelligence states that the country is losing its competitive edge in this industry...

Posted to ICIS Blogs (Weblog) by Anonymous on 07-16-2008
Two steps forward, one step back

It is difficult to imagine this happening in any other country except India. After lobbying hard with the central government to secure the right to develop a Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) at Mangalore, the Karnataka government is likely to withdraw its application...

Posted to ICIS Blogs (Weblog) by Anonymous on 07-03-2008
Kakinada update

ONGC has decided to exit from the Kakinada refinery and petrochemicals project. But the project is alive as the GMR group remains interested. I think ONGC made the right decision. It will be interesting to see if GMR will be able to improve the project's economics.

Posted to ICIS Blogs (Weblog) by Anonymous on 06-26-2008
Kakinada attracts GMR

Oil and Natural Gas Corp's (ONGC) Kakinada project continues to attract investors despite questions about its viability . The GMR group is the latest and is reported to have formally expressed interest in taking a stake in the refinery and petrochemical project. The board of Kakinada Refinery and...

Posted to ICIS Blogs (Weblog) by Anonymous on 06-23-2008

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