Preview

Ongc Projcet Report

Powerful Essays
Open Document
Open Document
14048 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Ongc Projcet Report
1. Sector Overview
India is the sixth largest consumer of oil in the world and the ninth largest crude oil importer. India’s oil and gas sector contributes over 15% to the Gross Domestic Product (GDP). According to Ministry of Petroleum and Natural Gas, India has a total reserve of 1201 million metric tonnes of crude oil and1437 billion cubic metres of natural gas as on 01 April 2010. The total number of exploratory and development wells and metreage drilled in onshore and offshore areas during 2009-2010 timeframe was 428 and 1019 thousand metres respectively.Crude oil production during 2009-2010 timeframe was 33.69 million metric tonnes and gross production of Natural Gas in the country was 47.51 billion cubic metres during 20092010. The production of petroleum products during 2009-2010 was 151.898 million metric tonnes (Ministry of Petroleum & Natural Gas).However, due to huge demand-supply gap in oil and gas in India, it imports more than 60% of its crude oil requirement.Further, oil consumption in India is projected to enhance by 4-5% per annum to 2015, indicating a demand of 4.01 million b/d by 2015. As per the Business Monitor International (BMI) forecast, India will account for 12.4% of Asia Pacific regional oil demand by 2015, while satisfying 11.2% of the supply.Due to increasing refining capacities, exports of petroleum products are high in terms of the foreign currency amassed and accounts for 17% of the total exports. India’s exports of refined products stood at 0.95 million barrels per day as of June 2011 and US$ 4.6 billion worth of petroleum products were exported during July 2011. Vastness of this sector is corroborated by the fact that there were a total of 130,000 people employed in the petroleum industry in 2009-2010.

2. Oil and natural gas sector - Introduction
2.1 Value chain
The oil industry can be divided into three major components: upstream, midstream and downstream. The upstream industry includes exploration and production
Continue Reading
View Writing Issues

You May Also Find These Documents Helpful

  • Satisfactory Essays

    The Pros Of America's Oil Consumption
    • 113 Words
    • 1 Page

    The Pros Of America's Oil Consumption

    Thanks to modern technology and scientific progress, which is easy to take advantage of unconventional oil, America now has become a major exporter of petroleum products in the world they are issued naphtha, diesel and gasoline for Latin America, Europe and Asia. The outcome of currently imported oil dropped dramatically exceeded all expectations.…

    • 113 Words
    • 1 Page
    Satisfactory Essays
    Read More
  • Better Essays

    JWI515 Week 5 Assignment 2
    • 1515 Words
    • 5 Pages

    JWI515 Week 5 Assignment 2

    The oil/energy industry is one of the largest industries in the United States. According to the Department of Energy (DOE), fossil fuels (including co4tral, oil and natural gas) makes up more than 85% of the energy consumed in the U.S. as of 2008. Oil supplies 40% of U.S. energy needs (DOE, 2014). There are two major sectors within the oil industry, upstream and downstream. Upstream is the process of extracting the oil and refining it. Downstream is the commercial side of the business, such as gas stations or the delivery of oil for heat. Oilfield service companies assist the drilling companies in setting up oil and gas wells. In general, these companies manufacture, repair and maintain equipment used in oil extraction and transport. More specifically, these services can include: Seismic Testing which involves mapping the geological structure beneath the surface; Transport Services is operative given both land and water rigs need to be moved around at some point in time; Directional Services becomes relevant because not all oil wells are not drilled straight down, some oil services companies specialize in drilling angled or horizontal holes. The Organization of Petroleum Exporting Countries (OPEC) is an intergovernmental organization dedicated to the stability and prosperity of the petroleum market. OPEC has 11 member countries. The world's top exporters of petroleum are Saudi Arabia…

    • 1515 Words
    • 5 Pages
    Better Essays
    Read More
  • Better Essays

    Financial Services and Wall Street Journal
    • 1287 Words
    • 6 Pages

    Financial Services and Wall Street Journal

    References: Financial Time (July 6, 2012). Industry in Oil and Gas sector: Pipeline. Retrieved from http://markets.ft.com/Research/Markets/Sectors-And-Industries/Oil-and-Gas/Pipelines…

    • 1287 Words
    • 6 Pages
    Better Essays
    Read More
  • Powerful Essays

    Strategic Research Project Analysis: Noble Energy Inc.
    • 4663 Words
    • 19 Pages

    Strategic Research Project Analysis: Noble Energy Inc.

    People are trying to reduce the consumption level of expensive products due to their low disposable income and limited purchasing power. Especially, the people of middle class income level are trying to find substitute energy resources of oil and gas due to hike in oil and gas price (Shelley 27). Apart from economic issues, the global oil and gas exploration and production industry is suffering from several global political issues. Several under developed and developing countries have to pay high petroleum tax to the oil and gas producing countries in order to improve the crude oil. High tension and critical political conflicts between several countries are affecting the growth of this global oil and gas exploration and production industry. In addition to these, several countries have developed strict regulations regarding the extraction of oil and gas. Extraction of oil and gas from oil mine requires the uses of several deadly chemicals. It can affect the global ecological balance. Looking into this issue, the government of several countries developed strict rules and regulations regarding the extraction of oil. It is expected that the number of total oil reservoirs and mines can be decreased due to these issues and challenges. Government of United States provides a huge public subsidy to the oil and gas companies (Odell 49). Moreover, the government of United States provides…

    • 4663 Words
    • 19 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    Iraq War Cost
    • 2632 Words
    • 11 Pages

    Iraq War Cost

    The “Financial Times” magazine in 2007 revealed that Iraq could have almost double the reserves of oil than it had earlier been thought. The war thus meant that it could be hard in the future to deal with Iraq’s security even to matters that concerned its oil and by products. This means that the global prices of oil could be affected by the war as it had a direct affect to its production (Gafarli, 2007). The oil prices have since increased steadily and have continued to sell high since the war began. The prices of crude oil do not affect just the United States, but the entire world. A good example of a country that is suffering from this is India. India’s oil demand increases at a steady rate of 4-5 percent annually. Iraq has since ruled out any subsidized oil prices to India, stating that the law of the land does not allow them to do so. This has adverse effects on the economy of India as it imports about 20 million tons of oil from Iraq every year. This means that Iraq is the second largest supplier of oil crude oil to India (Lee,…

    • 2632 Words
    • 11 Pages
    Powerful Essays
    Read More
  • Powerful Essays

    American Dependance on Foreign Oil
    • 2258 Words
    • 10 Pages

    American Dependance on Foreign Oil

    Today, the United States is the largest consumer of oil in the world. On average, the United States consumes 20.7 million barrels of oil a day (EIA, 2008) but we are the world’s third largest producer of oil (EIA, 2008). The United States produces 5.1 million barrels of oil a day and 3.6 million barrels from various other sources but there is a 13.5 million barrel shortfall (EIA, 2008). This information allows us to conclude that the United States produces 10% of the world’s oil but consumes 24% (EIA, 2008).…

    • 2258 Words
    • 10 Pages
    Powerful Essays
    Read More
  • Better Essays

    Article Analysis Paper Essay Example
    • 1290 Words
    • 6 Pages

    Article Analysis Paper Essay Example

    The article provides a historical summary of consumption patterns of crude oil by providing long-term trends which span from 20 to 50 years, including an analysis of the trends in the consumption, expenditures, imports and prices of…

    • 1290 Words
    • 6 Pages
    Better Essays
    Read More
  • Powerful Essays

    Where Is Our Oil and Gas Industry Headed????
    • 3640 Words
    • 15 Pages

    Where Is Our Oil and Gas Industry Headed????

    These problems are not unique to our country. Globally, we are dealing with a resource that will eventually be depleted. Increasingly, avenues for other countries to offset the demand of the United States have caused the domestic industry to burden the need of increasing supply. The main areas of the large entity of the petroleum industry analyzed were:…

    • 3640 Words
    • 15 Pages
    Powerful Essays
    Read More
  • Better Essays

    Addicted to Oil
    • 1208 Words
    • 5 Pages

    Addicted to Oil

    The United States’ increasing dependence on oil is a growing problem. Oil demand is increasing at an outstanding rate, not only in the U.S. but also around the world. Consider this, in 2008, “the world produced about 85 million barrels of oil a day, but global demand topped 86 million barrels a day” (Pickens). Just 4 years later the oil consumption rate has increased to 90 million barrels a day (IEA). A major portion of this increase can be attributed to high oil consumption rates in China and India, which now are importing more oil. The graph below from the Energy Information Administration (EIA) illustrates how significantly China’s dependence on world oil has increased over the past 15 years. It isn’t just competition for oil with other countries that is contributing to the problem though. Our usage of oil has to be looked at; especially our vehicles which consume an ever increasing amount of oil. According to the EIA, gas mileage of all types of U.S. made vehicles has leveled off since 1985. While foreign car companies have continued to make more fuel efficient vehicles, U.S. automakers have failed to keep up with innovations to make their vehicles increasingly more energy efficient. Based on the fact that each year more people are driving and people are commuting longer distances, oil consumption will continue to go up.…

    • 1208 Words
    • 5 Pages
    Better Essays
    Read More
  • Good Essays

    Us Environmental Policy
    • 2598 Words
    • 11 Pages

    Us Environmental Policy

    The nineteenth and twentieth centuries brought many wonderful inventions that advanced the human race into a world of technology driven by energy. The need for consumable fuels such as oil, coal, and natural gas needed for energy are growing on such a rapid pace that international production facilities can barely keep up with global demand. In BP’s “Statistical Review of World Energy 2011”, global data showing that average daily crude oil consumption surpassed production by over five million barrels per day during the year 2010. The sheer size and scope of the oil industry, current consumption habits and dependency on oil are so immense that the thought of an alternative solution is almost laughable; especially since the United States and China are the top oil consumers in the world (CIA, 2011).…

    • 2598 Words
    • 11 Pages
    Good Essays
    Read More
  • Powerful Essays

    Petroleum vs Renewable Energy Alternatives
    • 1214 Words
    • 5 Pages

    Petroleum vs Renewable Energy Alternatives

    Petroleum oil (a type of fossil fuel) has been extracted since the early 1650's in Europe to make kerosene for use in heat and lighting. Not until 1858 in Ontario was oil discovered by James Miller Williams to be useful as an energy source for machinery. Drilling his first well in 1860, North America's first oil corporation, The Canada Oil Company, was formed [1]. Petroleum has been, for over a century, the world's primary source of energy for all manners of living. It is used in various ways such as fuel for energy, the making of plastics and the production of lubricating oils. The petroleum industry is one of, if not the largest industry in the world, and plays a strong part in modern politics. However, it seems that we are on the path to an impending oil crisis. Critics predict that by 2020 we will have insufficient oil for the growing population and by 2050 we will have a worldwide crisis, as shown in the graph below:…

    • 1214 Words
    • 5 Pages
    Powerful Essays
    Read More
  • Best Essays

    Power of Wind
    • 1976 Words
    • 8 Pages

    Power of Wind

    The world currently faces a shrinking petroleum based energy supply and a rapidly growing pollution problem as a result of the dependency on petroleum. Countries around the world increasingly have to compete with each other in order to secure petroleum based energy resources. China and India continue to place a higher demand on the worlds petroleum supply because…

    • 1976 Words
    • 8 Pages
    Best Essays
    Read More
  • Good Essays

    The Oil Crisis Has a Big Influence to People’s Future
    • 873 Words
    • 4 Pages

    The Oil Crisis Has a Big Influence to People’s Future

    When people began to invent and started to use of the motor vehicle, they did not realized that the shortage of oil resources will bring a huge negitive affect to human society.Also, a view of the global economic system as one divided between certain industrialized nations that control wealth and developing countries that are controlled and exploited. While, these effects does gradually emerge day by day. A decade year ago, the international energy experts predicted that there had been only 40 years enough of oil resources on the earth. (Kuo 8) However, from the current situation, the 40 years projection period is clearly to break now. Futhermore, the decrease of the annual global oil production is associated with most of countries and regions will reach to oil resources possibilities in their forecaste period and they start to decrease oil production.(Vysotskii 11) Therefore, people need to develop the new energy resources. While,the nature gas as an abudant and affordable energy which is given to…

    • 873 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    None of Us Lives in a Vacuum
    • 893 Words
    • 4 Pages

    None of Us Lives in a Vacuum

    1) The oil and gas industry is in the middle of a revolution, one taking place on five or six different fronts. After 70 years with an almost unchanged corporate structure among the major companies, the industry has, in the last two years, seen four major transactions in the United States and Europe, and a host of smaller link-ups.…

    • 893 Words
    • 4 Pages
    Good Essays
    Read More
  • Good Essays

    India Natural Gas Market Forecast and Opportunities
    • 382 Words
    • 2 Pages

    India Natural Gas Market Forecast and Opportunities

    Natural gas accounts for around 10% share of the overall energy consumption in India. Widening demand and supply gap has resulted in increasing natural gas imports in the form of LNG (Liquefied Natural Gas). The natural gas imports are expected to rise significantly over the next five years. The rising concern of Green House Gas emissions and low price of natural gas is driving the demand for natural gas in India. Government is promoting natural gas production in India by introducing new pricing policy for the players producing domestically. Also, the government is encouraging the production from unconventional resources such as Coalbed Methane (CBM) and shale gas. The pipeline network is rapidly expanding, with new pipelines planned to be commissioned during the next five years. Moreover, the expansion plans of existing pipeline system are already under process. The western region leads in-terms of pipeline infrastructure, while southern and eastern regions have limited pipeline availability. New pipelines are planned in the eastern and southern regions, which would facilitate the supply natural gas to various cities in these regions.…

    • 382 Words
    • 2 Pages
    Good Essays
    Read More

Related Topics