Professional Documents
Culture Documents
June 2016
Editors Note
Editor's Pick
Govt releases draft national wind-solar hybrid policy
Call for urgent changes in oil and gas industry
India has done little to bridge energy supplydemand gap: Vikram Singh Mehta
Building a Better Battery
Editors Choice
Air pollution to kill millions more without change of
energy policy IEA
Fort McMurrays devastating wildfire is no longer
the Canadian oil industrys biggest problem
Why India could be the oil markets next big driver
of consumption
IndiScan
June 2016
GlobeScan
TrendScan
June 2016
TechScan
June 2016
June 2016
June 2016
F2F
June 2016
Editors Notes
Dear Patron of Petrotech,
First half of the year has now entered the pages of history, which, with
many reforms, revisions, addition and deletions in the laws obstructing
countrys development and improving quality of the life of people and
environment, has build a foundation of a promising future. The energy
sector has been in the centre forward of this fast moving year.
I took note of some of the legacies of the months gone by and some of the
expectations in the months ahead, which I would like to share with you in
this issue of PetroScan, which is now on your computer screen.
Investment in Upstream
During current year the Govt has taken many bold decisions in boosting the
sagging oil production and business sustainability of the Indian oil and gas
diesel was one bold step, which has helped companies to plan for investing
big in their future. In March this year, the government announced pricing
freedom for natural gas from deep sea fields that begin production this
year. It was again a decision which shall help India attracting investment in
gas business.
Recent announcement of the Govt. for investing $ 27 billion into upstream
shall go a long way in realising PMs vision of reducing oil import bill by
10% by 2025. Keeping in view this ambitious goal and that of maintaining
countrys growth @ 8% pa, which is inter-relation with energy consumption,
this target looks tough, but certainly not impossible. It, then, calls for a
meticulous planning and uncompromising execution.
The renewable energy including nuclear power shall have to take centre
stage, to free the oil and gas form majority of its current use in energy
sector, and which is also essential for meeting Indias commitment at COP
21 in December 15. PMs untiring effort for India entry into NSG is also one
such initiative in this direction, besides giving freedom to oil companies to
achieve this goal of 10% reduction on oil import bill.
In this direction, one of the major initiative lunched recently is for attracting
investment which is bound to increase the pace of exploration in marginal,
low-explore and un-explored, offshore and deep waters fields.
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June 2016
There was some scepticism about this decision in a time when globally, as
per Wood Machenzie, about 1 Trillion investments in exploration has been
either stalled or likely to be suspended due to low crude oil prices, which
are yet to recover, and not likely to recover to a very attractive level in near
future.
However, in this situation, ONGC proved that, even in low oil price regime
which hit its own bottom line, could be to advantage India, when a majority
of rigs are idling. The rig hiring charges, has over last two years, have
fallen to about 50K to 60K as compared to over $80 to 100 K/day during
the hay days of crude oil ruling over $100/bbl. I must complement ONGC
leadership for taking advantage of this situation, as they thought that
investing during the current down-cycle ensures lower costs for explorers
as well as future returns over four or five years once oil recovers. According
to Mr D K Sarraf CMD ONGC their decision to hire deepwater drill ships
and dozens of jack-up rigs, during this period, for a $5-billion development
program in the Krishna-Godavari Basin, will result in savings of about 20%
to 50 % in the cost of goods and services. ONGC plans to spend 11 trillion
rupees by 2030 to raise output.
ONGC is not alone in taking advantage of this situation. It is also reported
that last May, Reliance has held meetings with oilfield-services companies
to restart work at four offshore oil and gas blocks, including one of India's
biggest natural gas discoveries, plans to drill 21 wells in four offshore
areas, including the deep-water KG-D6 block in the Bay of Bengal.
The Govt. must be complemented for encouraging and also taking such
decisions, which has accorded top priority investment in the Oil and Gas
exploration and enhancing oil security in long terms. It was along pending
decision which has now been rolled out with better terms and conditions for
attracting and enhancing investment in this sector.
Investment in Downstream
The NITI AYOG and MoPNG has been regularly reviewing the demand
pattern of oil and gas for next 10, 15, 20 and 30 years, which has prompted
the Govt to accelerate investment in the mid and downstream O&G and
petrochemicals industry, besides upstream. MoPNG has envisioned to
construct a 60 million refinery on west coast, through a joint venture of
IOC,HP, BP and EIL. It shall be implemented in two phases. The first
phase costing about $40b, is expected to be completed in 5 to 6 years,
from the zero date starting on date of acquisition of about 12,000 to 15,000
acres of land.
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June 2016
June 2016
The company policy, however, could be same as the operating people for
the lab technicians and support services people engaged in R&D outfits,
but same should not be applied for the scientists.
Having realised it during my short stint of leading one of major R&D
organisation of the largest Indian OMC, I worked for it relentlessly with
some success. I am of the firm opinion that he IP of a company does not
rest in the IP documents and IP registration Offices, but rests in the minds
of the scientists. I, therefore, strongly advocated and continue to do so, for
retaining the scientists with area / domain and holding secrets of critical
IPs
which provides the company strategic advantage over the
competitors, who can mentor GeNext scientist, to be retained by the PSU
Research outfits, till they continue to contribute. Here too I had some
success. But, I happy, at least I could make a beginning and seed this idea
in the minds of opinion and decision makers of future, who took it forward.
The Indian expenditure on R&F has been stagnating below 1% of its GDP
for years. Its time the Govt of India, as a majority shareholder and
administrative controller of the PSEs, look into it closely and provide a new
direction to the industry. I also consider that its the also the role and
responsibility of the Gov as majority shareholder of PSEs, to ensure
succession planning of the leaders who would lead the organisations. The
Govt organs have to work more as motivator and facilitator than acting only
a controller and policy planner. as and create and periodically review be the
HR policies, which alone shall encourage independent thinking and
innovation.
Will they? But this we can expect from a pro-development Govt. And we
shall never give up hope.
I request you to share the PetroScan with your friends and colleagues, if
you find it useful. I sincerely thank everyone who responded to my request
to sent me their suggestions. Your suggestions were highly encouraging.
Wishing you a joyous monsoon, and with best regards,
(Anand Kumar)
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June 2016
Your Page
Dear Mr Anand Kumar
As usual excellent data and brilliant presentation-Congratulations
Regards
Col (Dr) S.P. Wahi (Retd.)
B.Sc (Engg), FNAE, FBIM (UK), FIE (IND)
Former: Chairman, ONGC, CMD CCI Executive Director BHEL
Chairman Bharat Ophthalmic Glass Ltd.
Chief Planning Bokaro Steel Ltd. Manager HVF Avadi
Chairman, National Institute of Industrial Engineering (NITIE)
Director IIM-Cal-IIT Delhi-Board of Governors ASCI
Urja Sangam 2015 Awardee
Padma Bhushan Awardee
---------------------------------------------------------------------------------------------------Dear Anandkumarji,
Heartiest congrats for bringing out such a comprehensive issue ,that is quite informative
and useful.Your editorial is quite apt.
Thanks a lot, with best regards,
Dr NG Kannan
Former Dir ( Mktg) IndianOil
---------------------------------------------------------------------------------------------------Dear Anand Sir,
Many thanks for sharing the March edition of PetroScan. I just read your
article titled "Invest in Yourself" and it makes my Monday morning more
happening and motivating.
Thank you again.
Martand, TERI
12
June 2016
Editors Pick
Govt releases draft national wind-solar hybrid policy
Press Trust of India | New Delhi June 15, 2016 Last Updated
at 00:03 IST
The government has sought for public comments for draft
National Wind-Solar Hybrid Policy which aims at providing a
framework to promote large grid connected wind-solar PV system
for optimal and efficient utilisation of transmission infrastructure
among others.
Draft National Wind-Solar Hybrid Policy has been prepared and
being placed for comments/suggestions/views of the
stakeholders. The same will be submitted by June 30, 2016
Ministry of New & Renewable Energy said.
The goal of the policy is to reach wind-solar hybrid capacity of 10
GW by 2022, it said, adding that the policy aims to encourage
new technologies, methods and way-outs involving combined
operation of wind and solar PV plants.
The main objective of the policy is to provide a framework for
promotion of large grid connected wind-solar PV system for
optimal and efficient utilisation of transmission infrastructure and
land, reducing the variability in renewable power generation, thus,
achieving better grid stability.
Solar and wind power being infirm in nature impose certain
challenges on grid security and stability.
Studies have revealed that solar and winds are almost
complementary to each other and hybdridation of two
technologies would help in minimising the variability apart from
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June 2016
infrastructure,
including
land
and
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June 2016
Senior figures in offshore oil and gas have called for more radical and urgent changes to avoid rapid decline.
They say there are only two years in which to secure the
industry's future.
A report by PwC includes a proposal for a "super joint venture"
between offshore operators.
It would share risk as well as return, and secure co-ordination of
activities for smaller fields and fragmented assets, as some
equipment nears the end of its working life.
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June 2016
It could also cut out as much as 15% of cost that results from
duplication of effort.
The joint approach could also be applied to funding, with the
survey of senior figures finding that a lack of capital was their
biggest problem.
Lack of leadership
The report, "A Sea Change", found that fewer than three in five
senior executives interviewed were positive about the industry's
future, while a fifth were pessimistic.
Suggestions in the report were that infrastructure, including the
pipeline network, could be handed over to a third party company
to ensure co-operation, or it could be nationalised.
Interviewed anonymously, the industry leaders were critical of the
lack of leadership.
They suggested in the PwC report that the industry needed a
dominant leading figure. This person may have to come from a
different sector, to shake up inefficient, older-thinking of the
existing regime.
Analysis by Douglas Fraser, Scotland
business/economy editor
You know something's really badly
wrong with North Sea oil and gas,
when the people who control it are
calling for their own overthrow.
The leaders are looking for leadership. Though fiercely
competitive, they are asking someone to arrange for their
collaboration.
These are business people asking for government to take over
their assets.
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June 2016
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June 2016
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June 2016
June 2016
As the chair rocks one way, using its stored energy, lithium ions
flow out of one electrode through the electrolyte and into the other
electrode. Then as the chair rocks the other way, charging the
battery after a day's use, the reverse happens, emptying the
second electrode of lithium ions.
"Fundamentally, when you have a battery, every time you use it, it
starts to die a little bit," Banerjee said. "The more you use it, the
more it dies. Eventually, it becomes unusable. Theoretically
speaking, you expect a certain performance from a battery, and
you rarely ever get there. People have been at a loss to
understand all the factors that contribute to this lack of full
capacity. This study points us in that direction."
Using one of the world's most powerful soft X-ray microscopes -the Scanning Transmission X-ray Microscope (STXM) -- at the
Canadian Light Source (CLS) in tandem with decades of
combined experience in materials science, Banerjee and
collaborators from the Lawrence Berkeley National Laboratory,
Binghamton University and the National Institute of Standards
and Technology (NIST) were able to image a traffic jam of lithium
ions chemically driven through the nanowire-based channels of a
simulated battery.
"For a battery to function properly, you need to get lithium ions in,
and you need to be able to pull them out," Banerjee said. "Once
our lithium ions got in, we were seeing that they sort of stop at
some point along the way."
Banerjee points to this interruption as a veritable ghost in the
machine that not only slows everything down but also sometimes
prevents the device -- be it a cell phone or a laptop computer -from exploiting its full battery potential. He says the devil is in the
details, which in this case clearly show that the electrons, once
coupled with the lithium ions, appear content to sit instead of
moving freely, thereby distorting the electronic structure and, in
essence, trapping or stranding the flow of energy.
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June 2016
June 2016
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Editors Choice
Air pollution to kill millions more without change of
energy policy IEA
Premature deaths from air pollution will continue to rise to 2040
unless changes are made to the way the world uses and
produces energy, the International Energy Agency said on
Monday.
Reuters | Jun 27, 2016,
By Nina Chestney
LONDON: Premature deaths from air pollution will continue to rise
to 2040 unless changes are made to the way the world uses and
produces energy, the International Energy Agency said on
Monday.
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June 2016
Around 6.5 million deaths globally are attributed each year to poor
air quality inside and outside, making it the world's fourth-largest
threat to human health, behind high blood pressure, dietary risks
and smoking.
Harmful pollutants such as particulate matter - which can contain
acids, metals, soil and dust particles - sulfur oxides and nitrogen
oxides, are responsible for the most widespread effects of air
pollution.
Tiny particulate matter can cause lung cancer, strokes and heart
disease over the long term, as well as trigger symptoms such as
heart attacks that kill more rapidly.
The release of these pollutants is mainly due to the unregulated
or inefficient production and use of energy, the IEA said in a
special report on energy and air pollution.
Without action, premature deaths attributable to outdoor air
pollution will increase to 4.5 million in 2040 from around 3 million
currently. Premature deaths due to household air pollution
however, should fall to 2.9 million from 3.5 million.
Asia will account for almost 90 percent of the rise in deaths.
Even though global emissions are forecast to decline overall to
2040, existing and planned energy policies will not be enough to
improve air quality, the report said.
"Without changes to the way that the world produces and uses
energy, the ruinous toll from air pollution on human life is set to
rise," the IEA said.
Harmful greenhouse gas emissions should continue to fall in
industrialised countries and recent signs of decline in China
should continue, but emissions are set to rise in India, southeast
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June 2016
Now
the
oil-sands
industry, still recovering
from
last
months
wildfires, needs another
one.
Without a technological
breakthrough like steam
injection three decades
ago, the flows that have
transformed
the
countrys economy could
slow to a trickle.
In a world that has plenty of cheap crude, and increasingly
demands cleaner energy, the oilsands look dirty, as well as
expensive.
We didnt use that word moonshot, but thats what it was, says
Chhina, now a top exec at Cenovus Energy Inc.
The search for cleaner and cheaper techniques may be less
urgent than fighting the blaze, which knocked out more than 1
million barrels of daily output and forced the evacuation of an
entire city. But in the long run its a bigger threat.
Fickle Prices
Will it prove to be a terminal one? Not according to Chhina, who
says hes as optimistic as he was in the 1980s when the oilsands
began to take off, triggering hundreds of billions of dollars of
investment. Former Prime Minister Stephen Harper likened the
feat to the building of the Great Wall of China and Egypts
pyramids.
June 2016
June 2016
June 2016
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June 2016
Oils rise to US$50 a barrel earlier this month proved to be shortlived, but at least it suggested that oil prices had established a
new and higher range. We might not be looking at a return to
US$100-a-barrel WTI anytime soon, but prices seem to have
stabilized somewhat, remaining north of US$40 for several weeks
now.
Who knows how long this will last, of course. Support for higher
prices has come at least in part from supply disruptions in
Nigeria and Libya, as well as Alberta, thanks to the Fort
McMurray fires. Recent U.S. Energy Information Administration
data suggest that stockpiles of crude are coming down.
Yet things like supply disruptions are difficult to predict, and even
harder to count on when it comes to having a lasting impact on
the supply glut.
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June 2016
The better news might be that the other side of the supplydemand imbalance is starting to do what its supposed to do:
There are signs that global demand is picking up.
In the largest oil market in the world, the United States, gasoline
consumption is growing strongly. Perhaps thats not a surprise,
given robust employment growth and the beginning of the
summer driving season.
Meanwhile, investor concerns over a hard landing in China the
worlds second largest oil consumer have eased somewhat,
and that has stabilized prices.
But its in India that the real demand story may be playing out.
Last year, average oil demand growth in India came in at 300,000
barrels per day a record high, and double the historical
average of 150,000 bpd, according to a recent paper by Amrita
Sen and Anupuama Sen at the Oxford Institute for Energy
Studies.
That surge in demand growth is expected to mean that India will
soon surpass Japan as the second largest oil consuming
economy in Asia (after China), and the third biggest oil consumer
in the world if it hasnt passed that mark already.
Whats driving this demand? On a general level, Indias economy
is outpacing its Asian neighbours and much of the rest of the
world. In 2015, Indias GDP grew by 7.3 per cent (officially, at
least there is always some debate about the reliability of the
numbers), compared with 6.9 per cent for China (similar
skepticism applies).
Theres no doubt that the plunging price of oil has been a windfall
for Indias economy, as a large importer of crude, as well as for
Indians themselves, more of whom are able to afford selftransport.
Car sales have been growing steadily since 2010, at a pace of
about two million a year, and Indias total vehicle fleet has more
than doubled since 2007.
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June 2016
The Oxford paper points out that cars are only one part of Indias
vehicle fleet, and that sales of two-wheelers have been even
stronger. That suggests the motorization of India has been
relatively well-distributed among the middle class, and not just
restricted to the wealthy.
The big question, of course, is whether a return to high oil prices
will stop this growth in demand. Yet the papers authors point out
a couple reasons to think it has legs.
One is that in the tightly controlled retail petrol market in India,
consumers have not fully benefited at the pump from the decline
in oil prices. They also point to the governments massive
infrastructure investments in roads a construction program that
is building 30 kilometres of new road a day, making it easier for
Indians to get around on their own.
Finally, Prime Minister Narendra Modi has embarked on a
program to radically increase manufacturings share of Indias
economy by 2022. Sen and Sen conservatively estimate that
transition, if successful, will result in Indias oil demand increasing
by one third.
The Oxford authors postulate that the increasing motorization of
India and the governmental commitment to manufacturing are an
echo of China in the early 2000s, and suggest that Indias
economy may be poised for take-off.
Now, this needs to be put in perspective. Per capita oil
consumption in India in 2014 was less than 10 per cent of that in
the United States; its per capita GDP is about three per cent of
the U.S.s and less than a quarter that of China.
June 2016
IndiScan
Government plans to begin marginal oil, gas fields
auction
By Sanjeev Choudhary, ET Bureau | 22 Apr, 2016,
June 2016
June 2016
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June 2016
Pradhan said the state-run Gail is taking the lead in the companyto-company negotiations at the international level.
It is already in touch with companies in Japan and South Korea,
the Minister said, adding that China can also be a partner in the
future.
Pradhan added that according to some estimates, India and
China will account for 90 per cent of the incremental gas demand
in the next two decades.
Addressing the Gateway of India Dialogue, Pradhan said the
country imported 37 per cent of its gas requirements last year.
Commenting on his upcoming Russian visit, Pradhan said he will
be attempting to make the traditionally warm ties more stronger
and added that state-run ONGC Videsh Ltd (OVL) is in talks to
take another 11 per cent stake in the Vankor oilfield owned by
Ronsneft.
The bidding for the 67 assets offered under the latest NELP will
begin after July 15, once the oil ministry gets done with
roadshows in Guwahati, Bengaluru, Calgary, London, Dubai and
Singapore, he said.
As a potential beneficiary of the Turkeministan-AfghanistanPakistan-India pipeline, New Delhi wants to expedite work on it
faster but geopolitics is a concern, Pradhan added.
When asked about Mahanagar Gas Ltds IPO, he said the city gas
company is bound to grow given the demand for clean fuels in our
cities and wished best for the offering.
He said Prime Minister Narendra Modis foreign visits have helped
the energy security agenda and the upcoming one in
Mozambique will help in expediting the commercial exploitation of
the Roboma field.
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June 2016
June 2016
June 2016
IOC, the nation's largest oil firm, used to take 26 hours to decide
on a tender for import of crude oil from spot or current market.
In April, after the Cabinet gave state-owned oil refiners freedom to
devise their own crude import policies, the time has been shrunk
to 12 hours, a senior company official said.
Time for deciding on tenders for export of petroleum products or
fuel has been cut to just 9 hours from previous 35 hours.
"Earlier, we had a three-member committee comprising two
company executives and one senior official of the ministry of
petroleum and natural gas to decide on awarding tenders for
import of crude oil from the spot market.
"Now we have an internal committee which can take decisions
quickly," he said.
The government gave flexibility to oil PSUs to help them secure
cheaper oil cargoes in an oversupplied market.
The new policy almost puts state-owned refiners on par with
private firms like Reliance Industries and Essar Oil.
"We now have greater flexibility but still to operate within the
framework of (anti-corruption watchdog) CVC guidelines," the
official said.
The previous policy limited purchases to a handful of companies,
often leading to PSUs missing out on chance to grab cheap,
distressed cargoes.
Oil PSUs, on an average, import 70-80 per cent of their oil
through annual supply deals, also called term contracts. The
remaining is bought from the spot or current market through
tenders.
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June 2016
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June 2016
June 2016
June 2016
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June 2016
India plans to more than double its liquefied natural gas (LNG)
import terminal capacity in six years to cater to the rising natgas
demand from refineries, fertilizer and power plants.
Plans to set up new terminals and expand existing facilities will
push up LNG terminal capacity to 47.5 million metric tonne per
annum (mmtpa) by 2022 from the current
21.3 mmtpa, according to an oil ministry
document.
In 2015-16, the natural gas consumption
in the country rose barely 2 per cent to
52 billion cubic meters, of which 40 per
cent was imported as LNG. But in the
last few months, the consumption has soared, rising 14 per cent
in April, banking on cheaper imports that rose 45 per cent. As
the economy expands and industries and households increase
their consumption of natural gas, the dependence on imported
LNG will only increase since the domestic output has been
declining for years. A three-fourths collapse in natural gas prices
in two years has made imports attractive.
The fertilizer and power sectors have been key consumers of the
natural gas in the country, depending mostly on domestic output,
while refineries and petrochemicals plants have relied more on
imported gas.
The imported gas is liquefied at source and carried by ships to
LNG import terminals where it is regassified for further supply.
With expanding need for imports, Indian also needs to add more
LNG terminal capacity.
Currently, there are four LNG terminals at Dahej and Hazira in
Gujarat, Dabhol in Maharashtra and Kochi in Kerala. The
recently-built Kochi terminal is barely functional due to the delay
in the construction of pipeline planned to connect the terminal
with the consumers.
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June 2016
June 2016
the owner of Vankor and North Vankor field licenses," OIL said in
a statement.
The deal is expected to close by September 2016.
The 23.9 per cent stake would be split in the ratio 33.5-33.5-33
between IOC, OIL and BRPL (IOC and OIL picking up 8 per cent
stake each while the remaining 7.8 per cent stake would go to
BRPL).
Rosneft holds 85 per cent shares in Vankor while ONGC Videsh
Ltd (through its subsidiary) holds 15 per cent at present.
Vankor field, located in East Siberia, is Russia's second largest
field by production and accounts for around 4 per cent of Russian
production and currently producing about 422,000 barrels of oil
per day.
"It is the largest of the fields, discovered and commissioned in
Russia during the last 25 years and is located in the North of
Eastern Siberia in Turukhansk district of the Krasnoyarsk
Territory, 142 km away from Igarka town," the statement said.
The recoverable resources of the Vankor field as of January 1
stood at 361 million tonnes of oil and condensate and 138 billion
cubic meters of gas.
"With the closure of the Vankor deal, IOC's equity oil portfolio will
go up by 1.6 million tons per annum," it said.
Further, Rosneft has agreed to sell another 11 per cent stake in
Vankor to OVL. Details of this deal are yet to be finalised.
The acquisitions have significant strategic importance to India,
both in terms of augmenting energy security as well as enhancing
its stature in the global political and economic arenas, the
statement added.
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June 2016
GlobeScan
Exxon CEO says high debt levels muddy potential
shale acquisitions
Wed May 25, 2016 5:36pm GMT Print
DALLAS May 25 (Reuters)
Exxon Mobil Corp Mobil chief executive Rex Tillerson said the
high levels of debt taken on by U.S. shale players had diminished
their value as potential acquisitions, noting that the company
continued to consider buying individual assets.
* "At this point, I would not want to suggest that anything's
imminent with anyone," Tillerson said at a press conference after
Exxon's annual general meeting, in response to Reuters question
about potential shale deals.
* "A lot of companies have taken on a lot of debt. As they've done
that, part of the value has been diminished," Tillerson said.
* "We continue to find value in certain assets that become
available and we continue to look at those," Tillerson said.
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June 2016
The new jobs are linked to the hook-up and commissioning of the
two projects with the work expected to last 18 months.
Alberta's Petrochemical
receives 16 applications
Diversification
Program
June 2016
be a major player
petrochemicals.
in
the
growing
global
demand
for
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June 2016
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June 2016
June 2016
TrendScan
OPEC Sees Global Oil Market Balancing Toward the
End of 2016
Grant Smith
OPEC predicted that the global oil market will be more balanced
in the second half of this year as demand rises and rival supplies
falter, echoing views expressed by ministers at the groups
meeting this month.
The Organization of Petroleum Exporting Countries kept
estimates for world supply and demand in 2016 unchanged in its
monthly market report. Disruptions in Nigeria reduced the groups
output to 32.36 million barrels a day last month, a little below the
32.6 million average required to satisfy estimated demand in the
second half.
The expected improvement in global economic conditions should
result in a more balanced oil market toward the end of the year,
the organizations Vienna-based research department said in a
report. The excess supply in the market is likely to ease over the
coming quarters.
Oil has surged about 80 percent from a 12-year low in February
as the global glut is trimmed by unexpected disruptions and a
slide in U.S. output. OPEC didnt set any output targets when its
13 members met on June 2 as the organization sticks with Saudi
Arabias strategy of pumping without limits to squeeze rival
producers.
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June 2016
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June 2016
Looking South
All of this has led to the wave of pessimism that has recently
overwhelmed LNG market analysis. However, there is one market
which is frequently overlooked and in which the potential for
growth is enormous.
That market is South Asia. Already, the South Asian market is
one of the fastest growing LNG markets in the world. Indias
demand for gas is set to explode over the next decade, as
ambitious city gas distribution networks are rolled out across the
country. Meanwhile, the enormous economic growth rate,
expected to average around 8-9% in the coming years, has a twopronged effect on gas demand. High growth rates means high
demand for power, much of which will be fuelled by gas. India is a
nation of 1.2 billion, 400 million of which are currently not
connected to power, something the government is seeking to
change in the coming years. Similarly high economic growth will
bring with it a greater demand for agricultural products, similarly
boosting the need for fertiliser an industry that is a key importer
of LNG in India.
There are a few obstacles to overcome in India mainly
competition with cheap coal, and infrastructure. However, the fact
is that in order to meet its carbon reduction commitments, India
must move away from coal, and the most efficient way to do this
is through gas. Ultimately the picture in India is one in which high
gas demand will wildly outstrip domestic supply, paving the way
for enormous LNG expansion.
Other Possible Export Destinations
Furthermore, India is not the only market in South Asia set to
open up in the coming years. Pakistan has entered the LNG
industry extremely recently, through long-term agreements with
Rasgas. Pakistans government is currently pursuing a hyperaggressive procurement policy, looking to capitalise on cheap
prices and develop an extensive LNG import capacity whilst the
goings good.
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Chakraborty | ECONOMICTIMES.COM | 02
June
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Of this windfall, 64 per cent went into the government coffers. The
Modi administration hiked excise duty on petroleum products five
times through FY2016 and by 140 per cent on diesel.
Those windfall gains helped the Finance Minister stick to his fiscal
deficit target of 3.9 per cent in the financial year ending March 31,
2016, and also push spend on critical infrastructure such as roads
and railways besides bolstering the social welfare schemes.
The government became a champion of growth and saviour of
capital expenditure spending in the country because of the plunge
in the black gold.
With the current account deficit and inflation under check, the
Modi government compensated for the lack of big-bang reforms
with big-bang spending.
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The government says it would roll back the excise duty hike if
international oil prices were to hit the $60 mark, which they might
do soon if Saudi Arabia had its way in the ongoing Opec meeting
in Vienna.
According to reports, the Middle Eastern Kingdom plans to revive
the failed plan to freeze output at January level in order to prop up
fuel prices further.
Arvind Sanger of Geosphere Capital Management said he was
probably too cautious in his estimate of oil hitting $60 by the third
quarter of 2016.
"I think oil prices are headed much higher and probably
uncomfortably higher over the next six to 12 months to cross $70
at some point.
So far it has been good, because I think oil prices are moving up
in conjunction with pretty decent demand growth. But I think one
of the risks for India and global markets is that inflation may now
edge upwards," he said
June 2016
Iran, by end of 2015 had the second largest proven gas reserves,
which amounted to 33.5 trillion cubic meters, 1.5 percent more
compared to end-2014.
The third and fourth places belongs to Qatar and US with 24.299
trillion cubic meters and 11.01 trillion cubic meters of proven gas
reserves respectively.
Compared to 2014, the estimates for Qatars reserves have been
revised down by 0.9 percent. The estimates for the US reserves
remained unchanged.
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Another concern, he said, is the turmoil in the Middle East and its
implications on the crude oil prices. As a net importer, India has
significantly benefited from the recent low oil prices, which have
now started inching up. The crude oil price has hit 11-month high
of USD 50 per barrel.
Sinha had earlier said that government's fiscal maths and inflation
calculations would not be impacted if the oil prices stay below the
USD 60 mark.
India, which depends on imports to meet 80 per cent of its oil
needs, will have to spend Rs 9,126 crore (USD 1.36 billion) more
every year for increase of each dollar per barrel in crude oil.
Besides, the rising crude oil trajectory impacts inflation and
growth.
"If oil prices stay in the range that most forecasters are expecting
them to be, which is in the USD 40-60 dollar range, then I think
we will be fine. If it goes beyond that range, then it becomes a
question," Sinha had said earlier.
India spent USD 63.96 billion on crude oil import in 2015-16,
about half of USD 112.7 billion outgo in the previous fiscal and
USD 143 billion in 2013-14. For the current fiscal, the import bill
has been pegged at USD 66 billion at an average import price of
USD 48 per barrel.
June 2016
Its looking like the 2020s will be the decade of the electric
car.
Battery prices fell 35 percent last year and are on a trajectory to
make unsubsidized electric vehicles as affordable as their
gasoline counterparts in the next six years, according to a new
analysis of the electric-vehicle market by Bloomberg New Energy
Finance (BNEF). That will be the start of a real mass-market liftoff
for electric cars.
By 2040, long-range electric cars will cost less than $22,000 (in
todays dollars), according to the projections. Thirty-five percent of
new cars worldwide will have a plug.
This isnt something oil markets are planning for, and its easy to
see why. Plug-in cars make up just one-tenth of 1 percent of the
global car market today. Theyre a rarity on the streets of most
countries and still cost significantly more than similar gasoline
burners. OPEC maintains that electric vehicles (EVs) will make up
just 1 percent of cars in 2040. Last year ConocoPhillips Chief
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Predictions like these are tricky at best. The best one can hope
for is to be more accurate than conventional wisdom, which in the
oil industry is for little interest in electric cars going forward.
If you look at reports like what OPEC puts out, what Exxon puts
out, they put adoption at like 2 percent, said Salim Morsy, BNEF
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20,000 miles a year. The more miles a car drives, the more
economical battery packs become. If these new services are
successful, they could boost electric-vehicle market share to 50
percent of new cars by 2040, according to BNEF.
One thing is certain: Whenever the oil crash comes, it will be only
the beginning. Every year that follows will bring more electric cars
to the road, and less demand for oil. Someone will be left holding
the barrel.
Editor: Alex Dickinson
Producer: Bernadette Walker, Justin McLean
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TechScan
Scientists discover a giant planet that orbits two suns
and could have habitable moons
June 2016
pretty similar to our own (one is slightly smaller and the other
slightly larger) but, well, there are two of them.
June 2016
year. Every 365 days you'll see a tiny decrease in the light from
the Sun as Earth moves across its disk. In contrast, when a
circumbinary planet transits, the consecutive events can be early
or late by many days. Sometimes, the transits of a CBP can even
cease altogether, only to reappear decades, even centuries later,"
he said.
You might think that Kepler-1647 b, being significantly larger than
previously discovered CBP (all around the size of Saturn or
smaller) would make a heftier dim and therefore be easier to spot.
But it was actually pretty hard to pin down: Kepler-1647 b has the
longest orbit of any CBP ever detected. That distance from its
host stars is good news for the potential for life on its moons,
because it keeps them from getting too hot for liquid water. But
since it takes 1,107 days for the planet to complete an orbit, the
transit events that scientists can use to study it are few and far
between.A comparison of previously discovered CBPs. (Lynette
Cook)
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total of $1.1 billion in more than 100 digital-health firms in the first
nine months of 2012, an increase of 70% over the $626m
invested in the same period in 2011. The number of deals rose by
84%.
Scanadus Scout
Handset-makers and wireless companies are also investing in
mobile health and the development of mobile diagnostic devices.
Nokia, a large handset-maker, has agreed to sponsor the $2.25m
Sensing X Challenge, another competition being run by the X
Prize Foundation that is intended to speed up the development of
medical sensors for tricorders. And as well as financing the
Tricorder X Prize competition, Qualcomms venture-capital arm
has put money into several promising start-ups in the area,
including San Francisco-based AliveCor, which has developed an
iPhone case with two electrodes that can perform an
electrocardiogram (ECG). Dr Topol recently used a prototype to
assess a fellow passenger on an aircraft who was suffering from
chest pain. He concluded the passenger was having a heart
attack, and the plane was diverted.
Other firms are also developing medical add-ons for
smartphones. MobiSante, based in Redmond, Washington, has
devised a smartphone-based ultrasound system that was granted
FDA clearance in early 2011. A hand-held ultrasonic probe plugs
into a smartphone, which generates and displays an image. It
costs $7,500, a fraction of the price of a conventional ultrasound.
Another smartphone attachment is the iBGStar, a sleek glucosemonitoring device for diabetics that plugs into an iPhone. Sold by
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University of Manchester, UK
University of South Florida, USA
University of Waterloo, Canada
West Texas A&M University, USA
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TAGS: MOON
MOON WATER
NASA SPACE
Taboola Sponsored
ASTEROIDS
COMETS
June 2016
little avail because the particles are too large and the method is
not efficient enough to stabilize the wellbore.
In lab tests, a polymer-nanoribbon mixture was placed on a
sandstone block, similar to the rock that is encountered in many
wells. The team found that rapidly heating the graphene
nanoribbons to more than 200 degrees Celsius with a 30-watt
microwave was enough to cause crosslinking in the polymer that
had infiltrated the sandstone, Tour said. The microwave energy
needed is just a fraction of that typically used by a kitchen
appliance, he said.
"This is a far more practical and cost-effective way to increase the
stability of a well over a long period," Tour said.
In the lab, the nanoribbons were functionalized -- or modified -with polypropylene oxide to aid their dispersal in the polymer.
Mechanical tests on composite-reinforced sandstone showed the
process increased its average strength from 5.8 to 13.3
megapascals, a 130 percent boost in this measurement of
internal pressure, Shahsavari said. Similarly, the toughness of the
composite increased by a factor of six.
"That indicates the composite can absorb about six times more
energy before failure," he said. "Mechanical testing at smaller
scales via nanoindentation exhibited even more local
enhancement, mainly due to the strong interaction between
nanoribbons and the polymer. This, combined with the filling
effect of the nanoribbon-polymer into the pore spaces of the
sandstone, led to the observed enhancements."
The researchers suggested a low-power microwave attachment
on the drill head would allow for in-well curing of the nanoribbonpolymer solution.
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3D illustration of
graphene
atomic structure
A
graphenebased electrical
nano-device has
been
created
which
could
substantially
increase
the
energy efficiency
of fossil fuelpowered cars.
The nano-device, known as a 'ballistic rectifier', is able to convert
heat which would otherwise be wasted from the car exhaust and
engine body into a useable electrical current.
Parts of car exhausts can reach temperatures of 600 degrees
Celsius. The recovered energy can then be used to power
additional automotive features such as air conditioning and power
steering, or be stored in the car battery.
The nano-rectifier was built by a team at The University of
Manchester led by Professor Aimin Song and Ernie Hill, Ph.D.,
with a team at Shandong University. The device utilises
graphene's phenomenally high electron mobility, a property which
determines how fast an electron can travel in a material and how
fast electronic devices can operate.
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Global
Warming
Gas
into
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(540 meters) deep in the rocks of Iceland offers new hope for an
effective weapon in part of the fight against man-made global
warming. (AP Photo/Brennan Linsley, Fie)Scientists have a found
a quick way but not a cheap one to turn heat-trapping
carbon dioxide gas into harmless rock.
Experts say the results of a two-year, $10 million experiment
called CarbFix , conducted about one-third of a mile (540 meters)
deep in the rocks of Iceland, offer new hope for an effective
weapon to help fight man-made global warming.
When an international team of scientists pumped a carbon
dioxide and water mix into underground basalt rocks, basic
chemistry took over. The acidic mixture dissolved the rocks'
calcium magnesium and formed limestone, a permanent natural
jail for the heat-trapping gas, according to Juerg Matter of the
University of Southampton in England. He is the lead author of a
study detailing the experiment published Thursday in the journal
Science.
"It's no longer a gas," Matter said. "Basically carbon dioxide is
converted into stone."
Scientists, who had done this before in the lab, thought the
process could take thousands or even hundreds of thousands of
years. But after just two years, 95 percent of the gas was
captured and converted, the study said.
"It's what we hoped for ... and in some ways better," said David
Goldberg, a Columbia University geophysicist who wasn't part of
the team but praised it. "What's going on here is a natural process
being accelerated."
One of the methods to battle climate change, in addition to
reducing fossil fuel emissions, is to capture carbon dioxide from
the air or power plants.
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Promise
for
High-
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Solid oxide fuel cells that depend on cheap ceramic materials are
amongst the most competent and promising kind of fuel cell.
Researchers at the Harvard John A. Paulson School of
Engineering and Applied Sciences have discovered a way to
gather the quantum behavior of the fuel cells in order to make
them more effective and strong. While doing so, they have
detected a different type of phase shift in an oxide material. The
study has been published in the Nature journal.
Fuel cells work in a similar way to batteries producing an
electric current by driving electrons to move between the anode
and the cathode which are detached by an electrolyte. In contrast
to batteries, fuel cells do not require recharge. All they need is
fuel, often in the form of hydrogen.
When hydrogen is supplied to the anode, it splits to give rise to an
electron and a proton. The electrolyte takes the role of a bouncer
in an exclusive club hindering electrons from entering and
permitting protons to enter. The electrons are forced to take the
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Now, ions can move very quickly in this material while at the
same time electron flow is suppressed, said Zhou. This is a new
phenomenon and it has the potential to dramatically enhance the
performance of fuel cells.
The elegance of this process is that it happens naturally when
exposed to the electrons in fuel. This technique can be applied to
other electrochemical devices to make it more robust. Its like
chess before we could only play with pawns and bishops, tools
that could move in limited directions. Now, were playing with the
queen.
Shriram Ramanathan, Professor of Engineering, Purdue
University
The study was sponsored by Army Research Office, Air Force
Office of Scientific, Research, Advanced Research Projects
Agency-Energy (ARPA-E), IBM PhD Fellowship and National
Academy of Sciences.
CC BY 2.0 malkusch
Scientists and engineers are
constantly looking to nature to
find inspiration for better ways
to do things and better
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materials to do them with. Plants, the original and best solar cells,
are always being studied to improve solar technology, and
animals have inspired a host of robots with their wide range of
movements.
The latest amazing find in nature that is leading to biomimicry is
the discovery of a highly conductive material in the organs of
sharks and rays that lets them sense the electric fields of their
prey.
It's long been known that sharks and rays have organs called the
ampullae of Lorenzini that allow them to detect the weak electric
fields of animals near them and find prey even in the dark depths
of the ocean, but scientists haven't been able to figure out how
exactly the organs work. A new study by researchers at the
University of California Santa Cruz, University of Washington, and
the Benaroya Research Institute at Virginia Mason has found that
within these organs, which are like pores located around the head
and along the underside of the animals, is a clear viscous jelly.
skate skin jelly
When
the
researchers
studied the jelly they found
that is highly conductive. In
fact, it has the highest proton
conductivity every reported
of a biological material.
As the UC Santa Cruz
explains, "Proton conductivity
is the ability of a material or solution to conduct protons (positive
hydrogen ions). In a system with very many ordered hydrogen
bonds, such as a hydrated hydrophilic polymer, proton conduction
can occur along chains of these bonds."
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the gold particles to squeeze together in tight clusters. The cooldown process, however, forces the gold particles to disperse
First author Tao Ding, Ph.D., of Cambridge Universitys
Cavendish Laboratory explained in a statement that this process
is like an explosion.
We have hundreds if gold balls flying apart in a millionth of a
second when water molecules inflate the polymers around them,
he said.
More research needs to be performed in order to control the
exertion done by these robots, but the team is looking at
commercialization opportunities in microfluidic bio-applications.
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The prevailing theory until the new papers was that RNA the
molecule which currently translates the genetic instructions of
DNA alone emerged from the primordial soup of the early Earth.
However, Carter and Richard Wolfenden, the authors of the two
papers, contend that there was an earlier code which bridged the
gap between simple amino acids and eventually led to the
evolution of the relatively-complex RNA which led to life.
We suggest that genetic coding evolved in distinct stages,
Carter concluded, in the second paper
About 3.6 billion years ago, the last universal common ancestor,
or LUCA, was likely a single cell with a few hundred genes.
But the UNC researchers were trying to find out how LUCA had
developed. So they conducted a series of biochemical
experiments at the high temperatures which were likely to hold
sway 4 billion years ago on Earth. They found that a long series
of reactions and interactions could eventually produce life in that
environment.
Our experiments show how the polarities of amino acids change
consistently across a wide range of temperatures in ways that
would not disrupt the basic relationships between genetic coding
and protein folding, Wolfenden said.
The earlier, heretofore unknown genetic code allowed the earliest
peptides of amino acids to bind together RNA which in itself
allowed the natural selection process to begin. And that natural
process resulted in a single cell, which had begotten more
complex future life.
The collaboration between RNA and peptides was likely
necessary for the spontaneous emergence of complexity. In our
view, it was a peptide-RNA world, not and RNA-only world,
Carter added.
Source:
http://www.biosciencetechnology.com/news/2015
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Saudi Arabia has lagged behind other Middle East and North
Africa (MENA) countries on renewable energy deployment but the
Kingdoms new Vision 2030 Plan sets a target of 9.5 GW
renewables by 2023 alongside the roll out of large-scale
industrialization projects. The renewable energy program is to be
led by a new ministry of energy, industry and mineral resources.
The rising need for baseload power to fuel industrial growth
should be met by the targeted deployment of Photovoltaic (PV)
power and Concentrated Solar Power (CSP), Babelli said.
"The advantage that comes with CSP should be a no-brainer for
Saudi Arabia, he said.
In high solar irradiation regions, PV with batteries are seen as the
most economic solar solution for storage durations of a few hours,
while CSP plants offer lower generation costs across longer
storage periods.
A combination of PV and CSP with storage would be able to
cover Saudi Arabias seasonal demand peaks and would cost
less than new large scale nuclear generation, Babelli told
conference attendees.
The deputy minister urged international solar consultants and
developers to shape their business plans around Saudi Arabias
power demand profiles and avoid assumptions based on other
solar markets, such as Germany.
Until now, consultants have come to Saudi Arabia with a one
model fits all approach, and this has held back growth in the
Kingdom, Babelli said.
This was the fundamental reason why nothing moved in Saudi
Arabia for six years, he said.
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Utility rebates and tax credits helped defray some of the $4.2
million cost for the floating array, which took two and a half years
to design and build, and another 1,302 solar panels installed on
land. The system is expected to pay for itself by 2020 or sooner,
Mr. Allen said.
The 3-foot-by-5-foot solar panels on the pond are mounted on
130 foam-filled plastic pontoons made from drainpipes.
We were nervous about a lot of things when we got into the
project, Mr. Allen said. But putting the panels on water saved
vineyard space, and the floating system, combined with a solar
array on land, generates up to 477 kilowatts of electricity at peak
production.
At least one other winery has followed suit, and Mr. Allen said Far
Niente had received visitors from India, China, Singapore and
New South Wales who are interested in the technology.
Inhabitants of the pond seem unperturbed, he added.
The fish are happy, the frogs are happy, the ducks came back,
he said. Its a very healthy pond.
June 2016
Japan has been looking for alternatives to nuclear power that are
considered safer.
Companies are working together to establish a hydrogen
infrastructure
The Japanese government has been working with various
companies in order to establish a hydrogen society. Two of these
companies, Toyota and Iwatani, have begun working together to
establish an expansive hydrogen fuel infrastructure in the country.
This infrastructure is needed to support the growing number of
fuel cell vehicles coming to Japan, but this infrastructure will also
ensure that fuel cells being used in other industries have access
to the fuel they need. Such an infrastructure will support Japans
plans for the 2020 Olympic Games, as well.
2020 Olympics will be powered by hydrogen fuel
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Jun 15 2016
, New Delhi
Tags: Power
New policy to promote hybrid power projects
In yet another step to accelerate the development of renewable
projects in the country, the government now targets to set up 10
gw of power plants under the wind-solar hybrid category by 2022.
The new category would bring together the two most successful
green technologies and reduce the variability associated with
renewable projects that poses risk to the grid stability.
The ministry of new and renewable energy (MNRE) has issued a
new draft policy on such hybrid projects that would help in the
creation of additional capacity both in brownfield and green
field space.
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more than half of the total were added last year. Of the total, 13,
964 pumps were sold under MNRE's programme Solar Pumping
Programme for Irrigation and Drinking Water.
Solar pumps mostly substitute for diesel and electric pumps used
by farmers. Solar pumps of 3-5 HP cost around Rs 5-7 lakh,
multiple times more than diesel and electric pumps of similar
capacity. A 3-5 HP diesel pump, for example, costs Rs 30,00050,000, but the cost of diesel in running it even for a single year is
often greater than the cost of the pump.
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Creative
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ANALYSIS - Utility
approach to land use
solar
promotes
enlightened
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HSE
Bongaigaon Refinery of IndianOil becomes the 1st
refinery to link Stack Monitoring Parameters with
Pollution Control Boards servers for public view
June 2016
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Earlier, Mr. JJ Das, DGM (P&U & Inst) explained the whole
procedure of online data monitoring system to the senior
management.
June 2016
products made from wild life like ivory, etc. He also said that it is
imperative to make lifestyle changes to be sincere to the cause of
environment. People are driving for short distances travel instead
of walking, and taking plastic bags from shops instead of carrying
cloth bags from homes. These small changes will go a big way in
conservation of environment and precious resources. He
reminisced that just few decades back water was freely and
abundantly available and we did not buy water back then, but
gradually big cities started selling water. This is, indeed, a big
impact. We need to develop a community responsibility towards
precious and essential resources for the sake of our future
generations.
Director (Refineries) signed off saying that the most essential
component for environment conservation is individual attitude and
all of us should strive to live in harmony with Nature. We should
make children as important drivers for spreading the message &
awareness about environment conservation.
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Climate Change
Record number of countries to sign Paris climate
accord
IANS | Apr 8, 2016, 09.53 PM IST
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&
MAINTENANCE,
NORTH
June 2016
Sustainability
Using nanostructured filters to reduce
pollution
shipping
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Exhibit 1
Risk management
Of the companies we surveyed,3more than 90 percent could point
to a specific event or risksuch as consumer pressure or soaring
commodity pricesthat directly triggered their commitment to
sustainability. More than half cited long-term risks to their
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F2F
Transforming Indian Power Sector
Piyush Goel
Minister of Power , Coal & Renewable Energy, Govt of
India
Efforts by the Power Ministry to kick-start stalled power projects
have led to nearly 46,000 megawatt (MW) of additional power
capacity coming on board, says Coal and Power Minister Piyush
Goyal.
In an interview to CNBC-TV18's Shereen Bhan, Goyal discussed
the achievements of the government in the power sector as it
completes two years in office.
Even as the government has succeeded in increasing power
production, some say demand continues to remain tepid given the
state of power distribution companies and the broader economy.
But Goyal said the ministry was taking steps to boost
demand.
"One is increasing penetration of power for people of India.
Second is we are trying to work with mobile companies to see
how we can ensure uninterrupted power through the towers. We
are working to see how electric vehicles in the long run become
another source of big demand," he said.
Below is the verbatim transcript of Piyush Goyals interview with
Shereen Bhan on CNBC-TV18.
Q: Can we expect now Tamil Nadu to join forces with you?
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Q: So, you will still take a little bit of time before you this. Let
me ask you on the coal side, because I understand that at
this point in time at least auctions perhaps are unlikely to
take place over the next few months. The linkage auctions
will happen but the linkage auctions will happen but the coal
mine auctions perhaps will take a little longer?
A: You will agree that it is in India\'s interest to wait for some time
the international commodity market being what it is.
Q: But as far as the linkage auction you still require cabinet
approval?
A: Only for the power sector. The non regulated we start next
month.
Q: How soon early can we expect cabinet nod on linkage
auction for power sector?
A: Still some time away. I have to yet circulate that note for
comments of other ministries. So, a couple of months maybe.
Q: So, what is the plan now as far Coal India is concerned.
You have been able to take production for the coal sector to
a record high and aggressive capex plan for Coal India of
about USD 8-9 billion over the next couple of years, next five
years to be precise. Possible candidate for a buy back
divestment that continues to be on the table, what is the goal
now or what is the next goal as far as Coal India is
concerned?
A: I had set one primary goal and one secondary goal and I stand
by that. The primary goal was that coal India should produce 1
billion tonnes of coal by 2020. It should be of the right quality. So,
washing, crushing all of that become integral parts to that
program. It should be with maintaining safety and security of
workmen, good manufacturing practices, technology introduced in
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A: Often they have been disappointed with TCS, they have been
disappointed with Unilever. Unilever at one point was down the
nadir, I regret I didn't buy it at that time. I think it is time business
channel start recognising the great work some of these PSUs are
doing. Market may have its up's and down's and it happens to
everybody. It happens many times through global cues, it
happens many times because of various factors. So, I would urge
you that it is not the private sector alone which is messiah and
solution to all the problems. They are doing some wonderful work,
they have not disappointed at all, I think they have done
absolutely remarkable contribution both to India, to the stock
markets and have given huge shareholder value also.
June 2016
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very huge but whatever it is that will go a long way to try to reduce
the import dependency.
ET Now: Let us also talk a little bit about the government's
aims to raise about Rs 77,000 crores via these to see them
get that kind of money. What exactly is your view?
RS Sharma: Well, I would not like to comment on these numbers
because these numbers were calculated when the crude oil price
was higher, gas prices were also higher. Right now, the pricing for
oil and gas is lower side. If not Rs 70,000 crores, even if Rs
50,000 crores, even if a lower number, I feel whatever
contribution comes, that will go a long way and most important
thing is starting the auction process, starting the investor inviting
the investor to invest in the Indian sedimentary basins that is a
positive story happening after six years and the bidding round
used to be every year.
That had been setback, no action taking place. Now it is positive
thing. I would also like to comment on something which you are
not asked but I feel very important - the global investors, even the
domestic players have been raising concerns about the regulatory
regime. So director general hydrocarbon, the institution has to be
strengthen and there has to be given more freedom to DGH to
take administrative decisions as the activity starts in terms of
approving field development plans in terms of like import, another
good thing here is that all imports for these fields will be duty
exempt.
Giving authorisations for the companies to import that
mechanism, actual support to the operators should come very
promptly and in a positive manner which in the past I must say
that it has not been that positive so that is one aspect the industry
will expect a more assurance when they do the road shows that
the regulatory regime has to be robust, has to be comfortable,
has to be reassuring from the investors so that is a very important
prerequisite.
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Let us see to what extent it meets with the success but as again I
will repeat, better late than never. It is a welcome step on the part
of the government.
June 2016
before, he jumped off the bow. This time, however, he was greeted by an audible
popping noise accompanied by a excruciating pain. Hours later, he found himself in the
recovery room after surgery to repair the ruptured tendons in both knees.
I was supposed to interview him the next day. I sent him my well-wishes for his recovery
and figured it would be months before we rescheduled. One week later, he invited me
into his home. He sat with his legs wrapped in bandages, encased in steel braces
locked at full extension, and hooked to suction machines that helped manage the
drainage and swelling. He was eager to talk about what it was like to lead.
But, before we even started the interview, he wanted to make it clear that leadership
came down to two simple things, character and competence, a theme that was
pervasive in his answers to my many questions.
June 2016
How do you care for yourself and make room for the other
important things in your life?
He laughed as I asked the question, and jokingly looked around in
exaggerated motions to see if his wife, who was in the other
room, was listening in. Shes on me about what I eat, and my
health.
He thought a minute more, and then said, I do fun stuff, but being
sheriff is by far and away the greatest job on the planet. When I
asked about making room for the other important things in his life,
I watched as self-realization washed over him. I probably should
do more," he said. I am immersed in work, probably more than I
should be. Work is a fascination, it is hobby, it is fun.
What are the surprising burdens of leadership?
When I asked this question, he went silent. I could see him go
inward. He remained quiet for what seemed like a very long time.
He came back to the present, asked his wife for more water and
settled in. I could tell he was fighting back his emotions.
This is a proud man, one who has likely witnessed and dealt with
more than we would care to know. As he looked at me, I could
see the pain in his eyes. Back-to-back in-the-line-of-duty deaths
and tearing the place apart. was his response. The Great
Recession had devastating effects on the budget and required
huge cuts and reductions in force. We talked about how the
rational mind could make sense that it was a reaction to an
external set of circumstances but, as a leader, it still felt like
failing.
I could almost see the weight both of the loss of life and
dismantling of his department sitting on his shoulders. We forget
sometimes, as we attempt to climb in our careers, of the
heaviness that awaits our arrival.
What have you learned about connecting with your people?
Our conversation here surprised me as I admittedly entered it with
some preconceived notions. This was a paramilitary environment
that followed a strict chain of command. But his response, in a
nutshell, was get to know your people. You sit down with them,
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find out what they are interested in, what they like and want to
do.
He went on to say, Whats important at the end of a conversation
is how they feel about you and about themselves. You have to
demonstrate that youre interested, that you care, and that they
can trust you. It turns out that the sheriff is a big believer in the
importance of servant leadership.
When you hear negative things said about you, does it hurt?
Not any more, was his quick answer. It used to, he went on.
He was addicted to reading what others wrote about him and
wanted to fight back, I asked him, You dont feel the need to
manage perception anymore?. His response was quick and
barbed. I dont have to. I am a third-term sheriff with 68% of the
vote.
I think it still bugs him, but he seems resigned to the fact that he
hasnt any power to change what others say or write, so he just
works to let it go.
What do you wish your current self could tell your former
self?
Again, the question was returned with a chuckle. Be a lawyer, go
to nursing school instead of into law enforcement. He continued,
I dont have any regrets. Things happen for a reason.
He then thought more about the question, saying that he would
tell himself, Make sure you have a strong number two. Someone
you can trust, unequivocally, without exception, no doubts, to give
you a different perspective. .
I surround myself with people who are much smarter than I am,
who will walk down the hall and say, boss, this is a bad idea, he
added.
At the end of the interview, we sat and just chatted for a bit
longer. When it came time to leave, he asked his wife, Yvonne, to
please come help him up to his walker. This proud man wanted to
stand and shake my hand. I wished him well and offered the
same to Yvonne, as I doubt the sheriff has the makings of a very
good patient.
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Its common knowledge that talking gently and lovingly with your
plants causes them to grow faster and healthier.
Theres no reason why the same shouldnt be true for people too.
Happy words of love and encouragement are an essential
prerequisite to good health and to good relationships.
A look at an instrument called the Eidophone reveals the
importance of positive words. Put simply, it consists of a tightly
stretched drum surface, covered evenly with a moldable pastelike substance and a mouthpiece through which sounds and
words are uttered beneath the drum surface.
Happy words create shapes on the covering substance: shapes
like trees or flowers, as they are in nature. If sand is spread on
the drum surface, these happy words produce precise geometric
designs, which are called Chladni figures, after their original
discoverer Ernst Chladni, famous as the father of acoustics.
Under the same drum, when you utter obscene or ugly words, the
patterns formed are chaotic, with no real form or figure. That,
precisely, is what ugly words create in our universe: chaos and
disharmony. The words we utter are not lost as soon as they
descend from our lips; they keep vibrating within the ethers
reaching a frequency that makes them inaudible.
Would we rather have pleasant words vibrating within our
relationships or sounds that create chaos?
It is a commonly held belief in many cultures to only speak
fortunate words, because the vibrations may influence reality. If
we speak and imagine good, only good will happen, says
tradition. Blessings are, therefore, very important they are
positive words and wishes for good fortune.
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Thats the reason people begin their day by blessing each other:
good morning is a simple enough blessing, and so is assalamalaikum which means peace be upon you.
Within the famous tehzeeb of Lucknow, you are supposed to
begin your morning by saying adaab to the elders, after which
they proceed to shower blessings upon you.
You may or may not believe that curses can fell trees. They can
surely fell a blooming heart, though. And even if you dont believe
that speaking good can manifest good fortune, you can still
believe that it can make you a better person.
(The writer is a freelance journalist)
Columnist:
Zehra Naqvi
Karthik Shashidhar
The latest inflation numbers (for February) came in earlier this
month, and show that year-on-year consumer price inflation is at
a four-month low of 5.18%. This has led to speculation that the
Reserve Bank of India (RBI) may cut policy rates in its next review
scheduled for April.
The decline in the rate of inflation is primarily due to a decline in
food inflation (note that a decline in inflation still implies rising
prices as long as inflation is positive), according to reports
released by the Central Statistical Office (CSO).
The headline inflation numbers, however, are not necessarily the
most interesting part of the inflation storythe way the inflation
numbers are calculated is equally, if not more, fascinating. This
includes both the price index of different product groups, and
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The higher weight for these items in rural areas can be partly
explained by the fact that more than 20% of the urban index is
taken up by housing, which pushes down relative weights of other
components.
For this reason, it makes sense to look at weights in the urban
index excluding housing, which is shown in the table. Adjusted
Urban Weights refers to the price index weights for urban areas,
assuming there is no weightage attached to housingthis makes
urban and rural weights directly comparable.
June 2016
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Finally, looking at the components of the price index can also help
us explain why inflation has dropped sharply in the past couple of
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years (as Figure 3 shows, inflation has dropped sharply since the
beginning of 2014).
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For starters, inflation has fallen in each of the categories for both
urban and rural areas, but clearly the sharpest fall has been in
food and beverages.
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Firstly, inflation in vegetables, which had hit 75% in the latter half
of 2013, has now cooled (even going into negative territory at
times, but that is primarily due to base effects).
Simultaneously, inflation in cereals, oils and meat has also fallen
significantly, which has meant that inflation has been under
control despite a steep increase in prices of pulses in the past
one year.
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noticing others following. I might grab that cab and pull the door
closed, ignoring others that might also need a lift.
Our actions with those we interact with regularly -- work
colleagues, family, and friends -- certainly provide evidence of
how much our character leans toward serving self or serving
others.
If, at work, I am mean, dismissive, call people names and find
fault with others more than I find value, its unlikely that
colleagues would describe me as having a servant character. Its
also unlikely that people would like to work for or work with a
person displaying those behaviors -- those of self-serving
character.
They may not have much choice if a person of self-serving
character is their boss or a team member.
I choose to insulate myself from those of self-serving character. I
coach others to do the same thing. Life is too short to willingly
expose yourself to jerks.
My servant character friends and colleagues are not passive
players on this stage of life; they demonstrate passions
frequently. The difference between people of self-serving
character and those of servant character is they can debate ideas
heatedly while continuing to honor the value of their fellow
humans.
Id much rather receive feedback from a person of kind, caring,
servant character than from one of self-serving character.
Can we change our character? What causes our character to
evolve? Experiences. Reflection. Feedback. These things
June 2016
Kelly Wenzel
June 22, 2016
Leadership
Leadership and Management
When I entered the workforce in the early 90s, Bill Clinton was
president, LinkedIn was a decade away, and hiring managers
were (slowly) sorting through crisp paper rsums.
The digital revolution upended just about every aspect of our
world, hiring included. Last year,nearly 3 million graduates
entered the American workforce with decidedly digital rsums
and high expectations of authenticity. Companies will have to
mold their cultures, hierarchies, and roles to attract and retain
them.
Hiring has changed on the other side of the desk, too. Social
media has transformed talent acquisition, and what we look for in
candidates has shifted. In January, Penguin Random
Houseknocked education off its pedestal, announcing candidates
didnt need a degree to land a job.
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EventScan
EventScan : Save the Date
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