These are the results of a study commissioned by Petroleum Federation of India and carried out by ICRA on a comprehensive analysis of the impact of the meltdown of the global oil prices on the Indian Oil and Gas industry.
Global crude oil prices have declined by ~60% from US$ 112/bbl (Brent) in June 2014 to US$ ~45-50/bbl now (as in May 2016 end) primarily due to the significant increase in supply due to the shale oil boom in the US, demand slowdown in Europe, Japan and China and, the decision of Saudi Arabia to protect market share rather than act as a swing producer of oil.
Fall in crude oil prices negative for upstream sector especially cos in pvt sector, extremely beneficial for downstream segment and moderate for midstream companies.
In response to decline in crude oil and gas prices, most global E&P companies have cut their budgets related to capex and accordingly drilling activity has shown a slowing trend, leading to a decline in the rates for drilling and other oil field services.
The initiatives launched by various departments and ministries of the Modi led NDA regime to empower those living in rural India are examples of this government’s strong belief that the road to Transform India passes through these villages that were probably forgotten for years together.
In what would fetch the exchequer more than Rs 25,000 crore, the Modi led BJP government will soon initiate the process of selling its residual stake in Hindustan Zinc Ltd and Bharat Aluminium Company Ltd (BALCO).
“Either you doubt that the process of auction was rigged, which the CAG has not said in this case”. Ïn any audit, it is mandatory to point out what is right and wrong….CAG has not done that… nowhere in its entire observations has the CAG mentioned that any law has been broken, what procedures have not been followed…and nothing of that sort is mentioned in the report.”
Uttar Pradesh has 4 times the hours of power cuts and 3.5 times the number of power cuts as compared to India.The state has 50% more loss of power and theft as compared to the rest of the nation (loss of power and theft are the two major reasons for power cuts).
DMFs would create a corpus of $one billion (or Rs 6500 cr) a year and may even go upto $2 bn with increased mining activity. “Imagine this kind of money flowing into welfare of locals and the transformational impact it will have on tribal areas like Dhanbad, Korba and others,” Goyal added.