News & Bulletin Updates

There are two big EOIs out from ONGC:
8Development of the Deen Dayal West (DDW): High Pressure High Temperature Field in KG-OSN-2001/3 Block (Offshore -Bay of Bengal) to put the field on production.
8Appraisal and development of the Ultra deep discoveries in Cluster-III, NELP Block KG-DWN-98/2.
What is the status?

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8The largest ONGC tender in recent times is finally out

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8There is a fear that ONGC big offshore development tenders may and land up with just one company

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Jun 22, 2022: Latest LNG data

Here is the latest update on the LNG trade:
8A list of LNG liquefaction projects which are expected come on stream, and their status as of now
8Data on how replacing Russian pipeline gas in Europe will not happen quickly and it will take quite a long time
8What is the latest status on European LNG intake capacity
8How much spot LNG is Europe soaking up, country-wise and month-wise
8What is the impact of the Freeport crisis on LNG shipping rates, by how much are spot rates down? And why are long term LNG carrier rates "super tight"?

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Another tranche of gas is going out for bidding
8But with a different gas pricing formula

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LNG arbitrage is mind boggling even today
8If you have a free cargo of LNG priced at Henry Hub (even through prices have gone up here) and you sell it at JKM prices, you can make a neat $116 million per vessel.
8If you are taking it to Europe you are making even more.
8We just keep wondering why so many months down the line, with a big fraction of the 5.8 MMTPA of US cargoes not coming into India and therefore uncommitted, GAIL is still not taking full advantage of these arbitration possibilities?
8The argument that is usually forwarded is that all cargoes are tied up back to back, and there are no caroges to spare in which such arbitrages can be earned, but beyond a point, this argument does not hold much water

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NPK Plant Greenfield Project
8Cost: 915 Cr.
8Project EventThe bid due date for the LSTK contractor has been extended from 24 June to 22 July 2022 due to a lack of a suitable bidder.
Ammonia-Urea Brownfield Project
8Cost: 6000 Cr.
8Project Event: RFQ for the additional Dryer has been out with due date is 29 June 2022. The production in the complex has been started in Feb 2022 with 60 % of the production capacity.. The construction of the railway line is not completed yet, so truck transportation is on

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Jun 22, 2022: Daily import matrices

Get the daily updates for
8Chemicals
8
Crude

8LNG
8Fertilizers
8Weekly Fertilizers
8LPG
8Ammonia
8All tankers
8Bulk and Dry cargo
8Port Update

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Petrochem sources have confirmed a fall in PVA 24-88 prices in the Delhi market.

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Petrochem sources have reported a huge fall in cyclohexanone prices in the Hazira market.

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The butyl cellosolve chemical market of Kandla reported a huge fall in Kandla port.

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A fall in IPA prices in the imported market of Mumbai was noted on June 22, 2022.

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Ethyl acetate prices in the Mumbai market have registered a cut today.

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Acetonitrile prices registered a sharp rise in the imported market of Mumbai.

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PBR grade 1220 prices were assessed lower in the Delhi market today.

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Phosphoric acid prices in the Delhi market have fallen sharply.

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A significant hike inpalm kernel oil prices in the Ahmedabad market was recorded today.

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Lanthanum oxide prices have shot up in the market of Mumbai.

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On June 22, 2022, chrome oxide prices were pushed higher in the Mumbai market.

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A huge rise in manganese sulfate prices was reported in Mumbai today.

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Petrochem sources confirmed that polystyrene sheet prices have slipped in the Delhi market.

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Robust demand has lifted bright aluminum wire prices in the Mumbai metal market today.

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A huge lift in nickel prices was recorded in Delhi.

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Ammonium metavanadate prices have shot up in the  market of Delhi.

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BIIR grade 2222 prices have moved higher today in Ahmedabad.

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