oil and gas august 2013

8/12/2019 Oil and Gas August 2013

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2/43


3/43

Worlds fourth-largest

energy consumer

Indias energy demand is expected to double to 1,464 Mtoe by 2035 from 559 Mtoe in

2011. Moreover, the countrysshare in global primary energy consumption would increase

twofold by 2035

Fourth-largest

consumer of oil and

petroleum products

Oil consumption is estimated to reach 4.0 mbpd by FY16, expanding at a CAGR of 3.2 per

cent during FY08FY16F

Sixth-largest LNG

importer in 2011 LNG imports accounted for about one-fourth of total gas demand. India's gas demand is

estimated to more than double over the next five years

Source: US Energy Information Administration (EIA); Ministry of Petroleum & Natural Gas; Aranca Research

Notes: MtoeMillion Tonnes of Oil Equivalent; mbpdMillion Barrels Per Day


4/43

The engineering sector is delicensed;100 per cent FDI is allowed in thesector

Due to policy support, there wascumulative FDI of USD14.0 billion intothe sector over April 2000 February2012, making up 8.6 per cent of totalFDI into the country in that period

Growing demand

Source:Business Monitor International (BMI); World Oil Outlook 2012; Ministry of Petroleum & Natural Gas; Aranca Research

Notes: mbpdMillion Barrels Per Day; bcmBillion Cubic Meters

Growing demand

India is the worlds fourth-largestenergy consumer; oil and gasaccount for 37.3 per cent of totalenergy consumption

Buoyant economic growth is the

main factor driving the countrysenergy requirements

Skilled workforce

About 139,068 people wereemployed in the petroleumindustry at the end of FY12

The University of Petroleum andEnergy Studies in Dehradun,

Uttarakhand, is Asias first andonly energy university

Policy support

Government has enacted variouspolicies such as the New

Exploration Licensing Policy (NELP)and Coal Bed Methane (CBM)policy to encourage investmentsacross the industrys value chain

Supportive FDI guidelines

100 per cent Foreign DirectInvestment (FDI) is allowed in

upstream and private sectorrefining projects

The FDI limit for public sectorrefining projects has been raisedto 49 per cent

FY08

Oil

demand:

3.1 mbpd;

Gas

demand:

31.5 bcm

FY16F

Oil

demand:

4.0 mbpd;

Gas

demand:

165.2 bcm

Advantage

India


5/43

Source: BP Statistical Review, June 2012; Ministry of Petroleum & Natural Gas; Aranca Research

Notes: bcmBillion Cubic Meters; mbpdMillion Barrels Per Day; ONGCOil & Natural Gas Corporation of India; IOCLIndian Oil Corporation Ltd

India is the worldsfourth-largest energy consumer

The country has 5.6 billion barrels of proven oil reserves, with an average oil production of 0.8 mbpd (2012)

India has 1,330 bcm of gas reserves and produced 47.6 bcm of gas in 2012

Indian oil and gassector

Midstreamsegment

Storage and

transportation

DownstreamsegmentRefining,

processing andmarketing

IOCL operates a 11,163 km network of crude, gas and product pipelines,with a capacity of 1.6 mbpd

This is around 30 per cent of the nationstotal pipeline network

IOCL is the largest company, operating 10 out of 22 Indian refineries

Reliance launched Indias first privately owned refinery in 1999 and hasgained a considerable market share (28 per cent)

Upstream

segment -Exploration and

production

The upstream segment is dominated by the state-owned ONGC

It is the largest upstream company in the exploration and production (E&P)segment, accounting for approximately 62 per cent of the countrystotal oiloutput


6/43

Oil consumption in India and current reserves

Source: Ministry of Oil & Natural Gas; BMI forecasts; Aranca Research

Notes: FForecast; CAGRCompound Annual Growth Rate;

mbpdMillion Barrels Per Day; mn bblMillion Barrels; *Provisional

Oil consumption is estimated to expand at a CAGR of 3.4

per cent during FY200816F to 4.0 mbpd by 2016

Owing to this strong expected growth in demand, Indias

dependency on oil imports is expected to increase further3.1 3.2

3.94.1

4.3

3.5 3.73.9 4.0

4,800

5,100

5,400

5,700

6,000

0.0

1.0

2.0

3.0

4.0

5.0

FY08

FY09

FY10

FY11

FY12*

FY13F

FY14F

FY15F

FY16F

Oil Consumption (mbpd) - LHSProven Oil Reserves (mn bbl) - RHS


7/43


8/43

Proven reserves and total gas consumption in the

country (bcm)

Source: Ministry of Oil & Natural Gas; Aranca Research

Notes: FForecast; bcmBillion Cubic Meters;

CAGRCompound Annual Growth Rate; * Provisional

With India developing gas-fired power stations,

consumption is up more than 160 per cent since 1995

Demand is not likely to simmer down any time soon, given

strong economic growth and rising urbanisation; during

FY200817F, gas consumption is likely to expand at a

CAGR of 21.0 per cent

31

32

47

51

46

109

137

150

165

175

1,0

90

1,1

15

1,1

49

1,2

78

1,3

30

1,3

30

1,3

30

1,3

30

1,3

30

1,3

30

FY08

FY09

FY10

FY11

FY12*

FY13F

FY14F

FY15F

FY16F

FY17F

Gas Consumption Proven Gas Reserves


9/43

Domestic gas production and imports (bcm)

Source: Ministry of Oil & Natural Gas; Aranca ResearchNotes: FForecast; bcmBillion Cubic Meters;

*Provisional

Domestic production accounts for more than three-quarters

of total gas consumption in the country

Imports constitute the rest; in 2012, the share of imports

was 22.0 per cent

India increasingly relies on imported LNG; the country was

the sixth-largest LNG importer in 2011 and accounted for

5.3 per cent of global imports

IndiasLNG imports are forecast to increase at a CAGR of

33 per cent during 201217

32 3347 52 48 43 44 47 51

6412 11

12 12 13 2332 32

48

56

FY08

FY09

FY10

FY11

FY12*

FY13F

FY14F

FY15F

FY16F

FY17F

Gas Product ion Gas Imports


10/43


11/43

Annual gas production (bcm)

Source: Ministry of Petroleum & Natural Gas; Aranca Research

Notes: mmtMillion Metric Tonne; *Provisional;

JVJoint Venture

Total gas production was 47.6 bcm during FY12

The contribution from Private/JV has drastically increased

over the last couple of years, following the development of

the Reliance - Krishna Godavari (KG) basin

22.6 22.4 22.3 22.5 23.1 23.1 23.3

2.3 2.3 2.3 2.3 2.4 2.4 2.67.4 7.0 7.78.1

22.026.8

21.6

FY06 FY07 FY08 FY09 FY10 FY11 FY12*

ONGC OIL Private/JV


12/43

Exploration activities (FY12*) (000 meters)


Notes: *Provisional

During FY12, 1,631,000 meters of wells were explored and developed in India

During the same period, 756 wells were drilled in the country

Most upstream drilling and exploration work is undertaken by state-owned oil companies

ONGC is the leader in the upstream segment and accounts for 62 per cent of total crude oil output in India

Development drilling activities (FY12*)

(000 meters)

198

46787

295

Wells MetreageOnshore Offshore

409

74062

129

Wells MetreageOnshore Offshore


13/43

Shares in crude pipeline network by length

(out of 9,537 km )


Notes: kmKilometre; mmtpaMillion Metric Tonnes Per Annum

India has a network of 9,537 km of crude pipeline having a capacity of 138.3 mmtpa

In terms of length, IOCL accounts for 45.9 per cent (4,376 km) of Indiascrude pipeline network; moreover, the company

has the countrys longest pipelines, namely the Salaya-Mathura-Panipat Pipeline (1870 km) and the Haldia-Barauni /

Paradip-Barauni Pipeline (1302 km)

In terms of capacity, ONGC leads the pack with a share of 47.4 per cent (65.5 mmtpa), followed by IOCL at 29.2 per cent

(40.4 mmtpa)

Shares in crude pipeline network by capacity

(out of 138.3 mmtpa)

12.5%

11.9%

45.9%

OIL

ONGC

IOCL

6.1%

47.4%

29.2%

OIL

ONGC

IOCL


14/43

Shares in product pipeline network by length

(out of 11,218 km )FY12


Notes: kmKilometre; mmtpaMillion Metric Tonnes Per Annum, LPG - Liquefied Petroleum Gas, IOC - Indian Oil Corporation,

HPCL - Hindustan Petroleum Corporation Ltd, BPCL - Bharat Petroleum Corporation Ltd, OIL - Oil India Limited, PMHB - Mangalore Hasan Bangalore,

PCCK - Cochin-Coimbatore-Karur

Of the 11,218 km of refined products pipeline network (capacity of 76.3 mmtpa) in India, Indian Oil Corporation (IOC)

accounts for 55 per cent (6,127 km)

Gas Authority of India Limited (GAIL) has largest share (88 per cent or 2,038 km) of the countrysLPG pipeline network

(2,312 km)

Shares in LPG pipeline network by length

(out of 2,312 km )FY12

0%

55%

19%

15%

6%2%3%

IOC

HPCL

BPCL

OIL

PCCK

PMHB

12%

88%

IOC

GAIL


15/43

Refinery crude throughput (mmt)


Notes: *Provisional; mmtMillion Metric Tonne

State-controlled entities dominate the downstream segment

as well

India has 19 refineries in the public sector and 3 in the

private sector

In FY12, public sector refineries accounted for 57 per cent

of total refinery crude throughput

93.1 96.9108.2 112.5 112.2 112.1 115.3 120.9

34.3 33.2

38.4 43.648.6

80.790.7 90.5

FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12*

Public Sector Private Sector


16/43

Shares in India's total refining capacity

(FY 2012)


Notes: mmtMillion Metric Tonne; *Provisional, HPCL - Hindustan Petroleum Corporation Ltd, BPCL - Bharat Petroleum Corporation Ltd,

OIL - Oil India Limited, ONGC - Oil and Natural Gas Corporation, IOCL - Indian Oil Corporation Ltd, CPCL - Chennai Petroleum Corporation Limited,

NRL - Numaligarh Refinery Limited, MRPL - Mangalore Refinery and Petrochemicals Limited, RPL - Renegade Petroleum Ltd, EOL - Essar Oil Ltd

Total crude throughput rose from 130.1 mmt in FY06 to 211.4 mmt in FY12*

In FY12, the sectorstotal installed capacity was 213.1 mmt, up 13.7 per cent from the previous fiscal year

In FY12, Reliance emerged as the largest domestic refiner with a capacity of 60 mmt (Jamnagar Refinery)

Total installed capacity (mmt)

26.0%

10.0%

7.0%

6.0%

1.0%

7.0%

28.0%

9.0%

7.0%IOC

BPCL

HPCL

CPCL

NRL

MRPLRPL

EOL

JV

117 135

71

78

FY11 FY12Public Sector Private Sector


17/43

Petroleum products from crude oil (mmt)


Notes: mmtMillion Metric Tonne; *Provisional

During FY12, 198.8 mmt of petroleum products (including 2.2 mmt of LPG from natural gas) were produced

Petroleum products derived from crude oil include light distillates such as LPG, naphtha; middle distillates such as

kerosene; and heavy ends such as furnace and lube oils, bitumen, petroleum coke, paraffin wax

The production of petroleum products is expected to reach 1199.7 mmt during the 12 thPlan period (201217)

Petroleum products from natural gas (mmt)

32 38 40 4051 55 58

6471 77 80

94 10010323

2628 30

3535 35


Light Distillates Middle Distillates Heavy Ends

2.2

2.1

2.1

2.2

2.2

2.2

2.2


LPG


18/43

Downstream distribution statistics (000 tonnes)


Notes: mmtMillion Metric Tonne; mmtpaMillion Metric Tonnes Per Annum; *Provisional

In FY12*, total sales of petroleum products by companies

was 148.0 mmt, up 4.9 per cent from the previous fiscal

year

The total number of retail outlets of public sector oil

marketing companies (OMCs) increased to 42,138 in April

2012 from 38,964 in April 2011

IOC owns the maximum number of retail outlets in the

country (48.8 per cent of total), followed by HPCL (26.7 per

cent) and BPCL (24.5 per cent); the remaining outlets are

owned by private firms

As of April 1, 2012, there were 11,489 LPG distributors in

India

0

50,000

100,000

150,000

200,000


Product Pipeline LPG Pipeline Crude Pipeline

PipelineCapacity (mmtpa)

As of April 1, 2012

Length (km)

As of April 1,

2012

Product Pipeline 76.3 11,218

LPG Pipeline 3.9 2,312

Crude Pipeline 138.3 8,528

Total 218.5 22,057


19/43

Energy consumption pattern in 2011

Source: US Energy Information Administration (EIA);Asia-Pacific Economic Cooperation (APEC); Aranca Research

Notes: MtoeMillion Tonne of Oil Equivalent

In 2011, coal accounted for 41 per cent of total primary

energy demand

Energy demand in the Asia-Pacific region is expected to

reach 5,627 Mtoe by 2020 and 6,861 Mtoe by 2035

Indiasenergy demand is expected to double by 203541%

23%

23%

8%5% Coal

Petroleum

Solid biomass &waste

Natural gas

Nuclear & otherrenewables


20/43


21/43

Source: Bloomberg; Aranca ResearchNotes: FYIndian Financial Year, AprilMarch

CompanyOwnership

(per cent)

FY13 Turnover

(USD billion)

Indian Oil Corporation

Limited78.9 per cent state-

owned84.7

Reliance Industries Public Listed 73.0

Bharat Petroleum

Corporation Limited

54.9 per cent state-

owned44.5

Hindustan Petroleum

Corporation Limited

51.1 per cent state-

owned39.7

ONGC69.2 per cent state-

owned29.7

GAIL India Limited 57.3 per cent state-owned

9.4

Oil India Limited68.4 per cent state-

owned1.8


22/43

Source: Bloomberg; Aranca Research

Notes: FYIndian Financial Year, AprilMarch

CompanyOwnership

(per cent)

Global Turnover

(USD billion)

Cairn Energy India PvtLtd

Private Sector 3.2 (FY13)

Shell Private Sector 460.0 (1Q2013)

BG Group Private Sector 20.8 (1Q2013)

BP Private Sector 370.9 (1Q2013)


23/43


24/43

Source: Ministry of Petroleum & Natural

Gas; Aranca Research

Notes: mtMillion Tonne

StateInstalled capacity,

as of April 2012 (mt)

Crude throughput for

201112 (mt)

Gujarat 91.7 104.8

Maharashtra 18.5 20.9

Haryana 15.0 15.5

Karnataka 15.0 12.8

Tamil Nadu 11.5 10.6

Kerala 9.5 9.5

Andhra Pradesh 8.4 8.8

Uttar Pradesh 8.0 8.2

West Bengal 7.5 8.1

Assam 7.0 6.7

Bihar 6.0 5.7

Punjab 9.0 -

Madhya Pradesh 6.0 -

Total 213.1 211.4


25/43


Notes: *Provisional; #April 2000February 2013

Growing demand

Inviting Resulting in

Growing demand Increasing investmentsPolicy support

India is fourth

largest energy

consumer

Rise in

population and

economic growth

to fuel demand

Increasing

industrialisation

and usage of gas

Supportive FDIpolicies

Promoting of

investments in the

sector

Introducing

policies such as

CBM and NELP

FDI in FY1* wasUSD2.03 billion

Cumulative#FDIs

in oil & gas totalled

USD5.4 billion

Huge investments

planned under

Eleventh Plan


26/43

Robust domestic

market; expected to

expand

India is the worldsfourth-largest energy consumer

Oil consumption is expected to rise 42.5 per cent during 201020

The country accounted for 10.3 per cent of total demand for gas in Asia-Pacific in 2011

Increasing demand for

natural gas

Several industries are increasing the usage of natural gas in operations; this has boosted

natural gas demand in India

Some of the main industries that use natural gaspulp and paper, metals, chemicals,

glass, plastic and food processing

Abundant raw material The nation has large coal, crude oil and natural gas reserves

Oil reserves amounted to 5.6 billion barrels in FY12

Natural gas reserves stood at 1.3 tcm in FY12

Source: Ministry of Petroleum & Natural Gas; BP Statistical Review of World Energy, June 2012; BMI; Aranca Research,Note: TCM - Trillion Cubic Meters, E&P - Exploration and Production

Favourable policies

100 per cent FDI allowed in E&P projects/companies; 49 per cent allowed in refining

Policies to promote investments in the industry such as New Exploraton Licensing Policy(NELP) and Coal Bed Methane (CBM)


27/43

Huge investments

Investments worth USD75 billion is expected across the oil & gas value chain under the

12thPlan (201217)

Since April 2000, FDI worth USD5.4 billion has been invested in Indias petroleum and

natural gas sectors

Skilled labour

The nation offers abundant skilled labour at much competitive wages compared to other

countries

The University of Petroleum and Energy Studies in Dehradun, Uttarakhand, is Asiasfirstand only energy university

Natural gas discoveries Several domestic companies (such as ONGC, Reliance and Gujarat State Petroleum)

have reportedly found natural gas in deep waters

This offers significant expansion opportunity for the next decade

Source: Ministry of Petroleum & Natural Gas; BMI; Aranca Research


28/43

Integrated Energy

Policy (IEP), 2006 Outlines goals for dealing with challenges faced by Indiasenergy sector

Petroleum and Natural

Gas Regulatory Board

(PNGRB) Act, 2006

To regulate refining, processing, storage, transportation, distribution, marketing and sale of

petroleum, petroleum products and natural gas

Auto Fuel Policy, 2003 To provide a roadmap to comply with various vehicular emission norms and corresponding

fuel quality upgrading requirements over a period of time

Source: Ministry of Petroleum & Natural Gas; Aranca Research, Note: NELP - New Exploration Licensing Policy

National Biofuel Policy,

2002 To promote bio-fuel usage, the GoI has provided a 16 per cent concession on the excise

duty on bio-ethanol and exempted bio-diesel from excise duty

Freight Subsidy (for far-flung areas) Scheme,

2002

To compensate public sector Oil Marketing Companies (OMCs) on the freight incurred todistribute subsidised products in far-flung areas

NELP, 1999 To provide a contract framework for E&P of hydrocarbons; licenses for exploration are

awarded through a competitive bidding system; nine rounds of bidding completed till 2011


29/43

FDI Policies The E&P segmentsFDI limit is 100 per cent, and the refining segments limit is 49 per

cent

Coal Bed Methane

(CBM) Policy, 1997 To encourage exploration and production of CBM gas as a new eco-friendly source of

energy

Petroleum Rules, 1976 Provisions for regulations governing pollution, safety, and other operating standards


Oil Industry

(Development) Act,

1974

An act establishing a board to develop the oil industry and levy excise duty on crude and

natural gas

Petroleum and MineralsPipelines Act, 1962

Acquisition of users rights by the government of India on land demarcated for layingpipelines to transport petroleum and other minerals from one area to another

Petroleum and Natural

Gas Rule, 1959 Regulates the grant of petroleum and natural gas exploration licenses and mining leases,

which belong to the government


30/43

Oil Field (Regulation

and Development) Act,

1948 An act to regulate oilfields and develop mineral oil resources



31/43

FDI inflows into petroleum and natural gas

(USD million)

Source: Department of Industrial Policy & Promotion; Aranca Research

Notes: *Provisional

Cumulative FDI inflows during April 2000February 2013 in Indias petroleum and natural gas sector stood at USD5.4

billion (2.8 per cent of total FDIs)

Across sectors, cumulative FDI inflows during April 2000February 2013 was USD191.9 billion, with the services sector

accounting for the largest share (19.4 per cent), followed by construction development (11.5 per cent) and

telecommunication (6.6 per cent)

FDI inflows into India (USD billion)

14.089.0

1,427.0

412.0

266.0

556.0

2,030.0


5.5

12.5

24.6

31.4

25.8

21.4

35.1

22.4

FY06 FY07 FY08 FY09 FY10 FY11 FY12* FY13*


32/43

Source: Thomson Banker; Aranca Research

Date Announced Acquirer Name Target Name Value of Deal (USD million)

Nov 2012 ONGC Videsh ConocoPhillips (Kashagan Field) 5000.0

Nov 2012 Inpex CorpOil and Natural Gas Corps exploration block

KG-DWN-2004/6Not disclosed

Sep 2012 ONGC Videsh Hess Corp (Azrei oilfield) 1000.0

Apr 2012 Trafigura Pte Ltd Nagarjuna Oil Co Ltd 130.0

Feb 2011 BP PLC Reliance Industries Ltd 9,000.0

Aug 2010 BPRL EP413 13.4

Aug 2010 Sesa Goa Ltd Cairn India Ltd 1,180.8

Aug 2010 Vedanta Resources PLC Cairn India Ltd 6,568.5

Aug 2010 Reliance Industries Ltd Marcellus Shale Natural Gas 391.6

Jun 2010 Reliance Industries Ltd Infotel Broadband Svcs Ltd 1,026.7

Apr 2010 Sim Siang Choon Hardware Interlink Petroleum Ltd 17.8


33/43

Source: Thomson Banker; Aranca Research

Date Announced Acquirer Name Target Name Value of Deal (USD million)

Apr 2010 Reliance Industries Ltd Atlas Energy Inc-Marcellus 339.0

Mar 2010 Investor Group Gulfsands Petroleum PLC 573.3

Mar 2010 Natural Power Venture Pvt Ltd Great Offshore Ltd 11.8

Feb 2010 Investor Group Republic of Venezuela-Carabobo 4,848.0


34/43

ONGCs position in the Indian market

ONGC is the largest upstream oil company

ONGC accounts for 62 per cent of Indias total crude

oil output and 49 per cent of total gas production

ONGC revenue growth (USD billion)

Source: Company Reports; BMI, Aranca Research

Notes: TOETonne of Oil Equivalent

ONGC

registered

highest-ever oil

production

Highest

reserve

accretion

in the last

two

decades83.5

million

toe

Domestic

crude

productio

n up 2.1

per cent

ONGC

reported net

profit of

USD3.9

billion in

2011

Highest-

ever

dividend

payout ofUSD1.6

billion

ONGC

recordedhighest-ever

net profit of

USD5.2

billion in

2012

13.0

15.314.2

13.1

15.315.9

15.2

FY07 FY08 FY09 FY10 FY11 FY12 FY13


35/43

Source: Company Reports; Aranca Research

Reliance Industries is a leading company in the petrochemical, refining and oil & gas industry

The company was ranked 99thin the Fortune Global 500 list 2012

It contributes 14 per cent to India's exports (Mar 2011) and 4.6 per cent of total market capitalisation in the country

FY12

Net Profit USD3.9 billion USD3.9 billion

EBITDA USD7.3 billion USD7.1 billion

Turnover USD66.8 billion USD68.4 billion

FY13

Turnover increased by 9.2 percent in FY13

Exports increased by 15 percent to USD44.1 billion

Record crude throughput at68.5 million tonnes

US shale: FY13 revenue and

EBITDA at USD616 millionand USD483 millionrespectively

Reliance Industries has entered into JVs with various companies across segments to align growth opportunities; it signed JVs

with Atlas, Pioneer, Carrizo SIBUR, and D.E. Shaw as well as entered into a strategic alliance with BP recently.


36/43

Upstream segment Midstream segment Downstream segment

Locating new fields for exploration: 78

per cent of the countrys sedimentary

area is yet to be explored

Development of unconventionalresources: CBM fields in the deep sea

Opportunities for secondary/tertiary oil

producing techniques

Increased demand for skilled labour

and oilfield services and equipment

Expansion in the transmission network

of gas pipelines

LNG imports have increased

significantly; this provides anopportunity to boost production

capacity

In light of mounting LNG production,

huge opportunity lies for LNG terminal

operation, engineering, procurement

and construction services

Development in city gas distribution

(CGD) networks, which are similar to

Delhi and MumbaisCGDs

To construct new refineriesconsidering advantages such as low

operation costs, lesser freight charges

and favourable policies

Expansion of the countrys petroleum

product distribution network


37/43

India has 63 tcf of recoverable shale gas reserves

The Cambay, Krishna Godavari, Cauvery, and the Damodar Valley are the most prospective sedimentary basins for carrying

out shale gas activities in the country

Around 20 tcf of gas has been classified as technically recoverable reserves in the Cambay basin in Gujarat (the largest

basin in the country), spread across 20,000 gross square miles with a prospective area of 1,940 square miles

It is estimated that the Krishna Godavari (KG) basin encloses a series of organically rich shales, containing around 27 tcf of

technically recoverable gas. KG basin, located in Eastern India, holds the countrys largest shale gas reserves, extending

over 7,800 gross square miles with a prospective area of around 4,340 square miles

India is likely to launch bidding for shale gas exploration toward the end of 2013

In April 2012, the Directorate General of Hydrocarbons (DGH) submitted its draft policy on exploitation of shale gas to the

Ministry of Petroleum and Natural Gas

Source: E&Y; Aranca Research

Notes: tcfTrillion Cubic Feet


38/43

Name Address Contact person Telephone E-mail

Oil Industry Development

Board (OIDB)

301, World Trade Centre, Babar

Road, New Delhi110001

Mr T S Balasubramanian,

Financial Adviser and Chief

Accounts Officer

91-11- 23413298

91-11- [email protected]

Petroleum Conservation

Research Association

(PCRA)

Sanrakshan Bhavan, 10 Bhikaji

Cama Place, New Delhi

110066

Mr Arun Kumar, ED91-11- 26198799

[email protected]

Bureau of Energy

Efficiency (BEE)

Ministry of Power, 4th floor,

SEWA Bhawan, RK Puram,

New Delhi110066

Dr Ajay Mathur, Director

General

91-11- 26178316,

91-11- 26179699

[email protected],

[email protected]

Oil Industry Safety

Directorate

Ministry of Petroleum & Natural

Gas, 7thfloor, New Delhi

House, 27 Barakhamba Road,

New Delhi110001

Mr J B Verma, ED 91-11- 23316798 [email protected]

Petroleum Planning and

Analysis Cell (PPAC)


Gas, 2ndfloor, Core-8, SCOPEComplex, 7 Institutional Area,

Lodhi Road, New Delhi

110003

Dr Basudev Mohanty,

Director

91-11- 24362501,

91-11- 24361380-

Directorate General of

Hydrocarbons


Gas, C-139, Sector 63, Noida

201301

Mr S K Srivastava, Director

General0120 - 4029401 [email protected]


39/43

B/D (or bpd): Barrels Per Day

MBPD (or mbpd): Million Barrels Per Day

BCM (or bcm):Billion Cubic Metres

CBM: Coal Bed Methane

CGD: City Gas Distribution

E&P: Exploration and Production

FDI: Foreign Direct Investment

FY: Indian financial year (April to March)

So FY12 implies April 2011 to March 2012

GoI: Government of India

INR: Indian Rupee

LNG: Liquefied Natural Gas


40/43

MMT (or mmt): Million Metric Tonne

MMTPA (or mmtpa): Million Metric Tonnes Per Annum

EBITDA:Earning Before Interest Taxes Depreciation Amortisation

NRL: Numaligarh Refinery Limited

CPCL: Chennai Petroleum Corporation Limited

HPCL: Hindustan Petroleum Corporation Limited

BPCL: Bharat Petroleum Corporation Limited

IOC: Indian Oil Corporation Ltd

EOL: Essar Oil Ltd

RPL: Reliance Petroleum Limited

MRPL: Mangalore Refinery and Petrochemicals Limited

PCCK: Petronet Cochin-Coimbatore-Karur

PMHB: Petronet Mangalore-Hassan-Bangalore


41/43

NELP: New Exploration Licensing Policy

TOE (or toe): Tonnes of Oil Equivalent

USD: US Dollar

ONGC: Oil and Natural Gas Corporation of India

IOCL: Indian Oil Corporation Limited

mn bbl: Million Barrels

CAGR: Compound Annual Growth Rate

JV: Joint Venture

UCG: Underground Coal Gasification

NGL: Natural Gas Liquids

OMCs: Oil Marketing Companies

NHGP: National Gas Hydrate Programme

Wherever applicable, numbers have been rounded off to the nearest whole number


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Year INR equivalent of one USD

2004-05 44.95

2005-06 44.28

2006-07 45.28

2007-08 40.24

2008-09 45.91

2009-10 47.41

2010-11 45.57

2011-12 47.94

2012-13 54.31

Exchange Rates (Fiscal Year)

Year INR equivalent of one USD

2005 45.55

2006 44.34

2007 39.45

2008 49.21

2009 46.76

2010 45.32

2011 45.64

2012 54.69

2013 54.45

Exchange Rates (Calendar Year)

Average for the year


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oil and gas august 2013

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