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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
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
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
Paradip update

I had written about a delay in Indian Oil Corp's (IOC) paraxylene (PX), polypropylene (PP) and styrene projects at Paradip because of rising costs and financial constraints. But a company source tells me that a final decision on the timing of these projects and the refinery will be decided by the...

Posted to ICIS Blogs (Weblog) by Anonymous on 06-13-2008
Engineers in short supply

A new report confirms what you probably know - only a small fraction of the country's fresh engineering graduates are employable . India churns out about 230,000 engineers every year but the standard of education is poor in many of the small colleges which suffer from weak infrastructure and inadequate...

Posted to ICIS Blogs (Weblog) by Anonymous on 06-06-2008
Paradip petchems postponed

After years of planning and crossing many hurdles IOC has now decided to defer the petrochemical portion of its Paradip project. The decision comes at a time when the company is struggling to cope with huge losses on account of record high crude oil prices and the government's reluctance to raise...

Posted to ICIS Blogs (Weblog) by Anonymous on 05-29-2008
Petchem politics

Will politics help Indian petrochemical companies gain access to cheap Saudi feedstock? Well, the government appears to be making an effort in this direction. During his visit to Saudi Arabia last week, India's external affair minister emphasised the need for greater participation by Indian companies...

Posted to ICIS Blogs (Weblog) by Anonymous on 05-19-2008

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