DOCSLIB.ORG

Crude Oil Declined Marginally During the Year from 38.08 Million Tonnes (MT) in 2011/12 to 37.86 MT in 2012/13

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Crude Oil Declined Marginally During the Year from 38.08 Million Tonnes (MT) in 2011/12 to 37.86 MT in 2012/13 PETROLEUM AND ENERGY SUPPLY NATURAL GAS 5 AT A GLANCE Production of crude oil declined marginally during the year from 38.08 million tonnes (MT) in 2011/12 to 37.86 MT in 2012/13. On the other hand, imports of crude oil increased, Introduction in terms of both quantity and value. The total refining capacity and refinery throughput The production of crude oil declined marginally increased by nearly 2 MT and 16 MT, respectively, during during the year despite the increase in production the year. from the fields operated by Cairn India. The production of these fields is likely to increase further The government decided to decontrol the prices of as the Aishwarya field has commenced production. petroleum products in the country and the prices of diesel Imports of crude oil increased and the total outgo are being increased in small increments at regular intervals. on crude oil increased due to both depreciating In addition, the government has also introduced pilot exchange rate and rise in the prices of crude oil. schemes to initiate direct transfer of subsidies for kerosene The refining capacity of the country increased due and liquefied petroleum gas. to the expansion of the refinery at Essar-operated The domestic production of natural gas decreased during at Vadinar. The production of petroleum products the year to just over 40 billion cubic metres (BCM) from also increased during the year, particularly due 47.55 BCM in 2011/12. to increase in the production of motor spirit and The rising demand for imports has necessitated the diesel. The production of natural gas in the country establishment of new liquefied natural gas terminals in declined sharply due to a fall in production from Kakinada, Mangalore, and Gangavaram. the KG-D6 block. This led to an increase in the The recommendations of the Rangarajan Committee on purchase of liquefied natural gas (LNG). New revising the prices of natural gas had been accepted by contracts for additional imports of LNG were also the Cabinet and were due for implementation from 1 April signed during the year. The recommendations of 2014. However, Election Commission has now put this on the Rangarajan Committee on pricing of natural hold and the prices will be revised only after the elections gas have been accepted by the Cabinet and were to are over in mid-May. be implemented from 1 April 2014. The Election Till September 2012, 19 production-sharing contracts Commission has, however, put this on hold and (PSCs) were signed under the ninth round of bidding under the prices will be revised only after the elections the New Exploration Licensing Policy (NELP). Progress has are over in mid-May. A draft policy for exploration been slow on the Open Acreage Licensing Policy (OALP). of shale gas has also been announced, and the ministries concerned are currently reviewing the policy. Oil Crude oil supply Domestic production Oil production in the country fell by 0.7% in the financial year (FY) 2012/13 (Table 1) (MoPNG Energy supply Table 1 Trend in onshore–offshore crude oil production (in MT) Year Onshore Offshore Grand total ONGC OIL Private/JV Total ONGC Private/JV Total 2012/13 (P) 6.94 3.66 8.83 19.44 15.62 2.80 18.42 37.86 2011/12 7.38 3.85 6.79 18.02 16.33 3.73 20.06 38.08 2010/11 7.45 3.58 5.40 16.43 17.00 4.28 21.28 37.71 2009/10 7.51 3.57 0.73 11.81 17.34 4.52 21.86 33.67 2008/09 7.56 3.46 0.24 11.27 17.81 4.43 22.23 33.51 2007/08 7.92 3.10 0.19 11.21 18.02 4.88 22.90 34.11 2006/07 8.06 3.11 0.16 11.33 17.99 4.67 22.66 33.99 2005/06 8.10 3.23 0.10 11.43 16.31 4.45 20.76 32.19 2004/05 8.32 3.20 0.07 11.59 18.16 4.23 22.39 33.98 2003/04 8.38 3.00 0.07 11.46 17.68 4.24 21.92 33.38 2002/03 8.45 2.95 0.08 11.47 17.56 4.01 21.57 33.04 2001/02 8.64 3.18 0.07 11.89 16.07 4.07 20.14 32.03 2000/01 8.43 3.28 0.09 12.01 16.63 3.79 20.42 32.42 JV – joint venture; MT– million tonnes; OIL – Oil India Ltd; ONGC – Oil and Natural Gas Corporation; P – provisional Note The production figures have been rounded off to two decimal places. Sources MoPNG (2013); TERI (2013) 2013). The primary reason for shortfall was the of which was from the Middle East. Saudi Arabia steadily declining production levels of the Oil and and Iraq together account for a third of India’s total Natural Gas Corporation (ONGC) and the Oil oil imports.4 India’s July 2013 imports from Iran, India Limited (OIL). All their existing oil-producing however, were just 35 500 BOED, down 82% from fields have already reached their peak levels. Even a year ago due to international sanctions designed though production was expected to rise this year to curb Iran’s nuclear ambitions (Winterbottom in light of Cairn India operated Aishwarya field and Goswami 2013). starting production, the figures were not included India’s crude import bill was $144 billion last since production started in Q1 of FY 2013.1 Cairn fiscal year—the largest part of its overall import India operated fields in Rajasthan produce 180 000 costs. The Ministry of Petroleum and Natural barrels of oil equivalent per day (BOED) at present, Gas (MoPNG) has undertaken several measures and plan to achieve more than 200 000 BOED by to cut the country’s oil costs after the rupee’s the end of this fiscal year.2 Cairn India intends to slide to record lows has left India facing an oil increase the production to 300 000 BOED, which bill potentially 50% higher than last year.5 An is almost 40% of India’s total production (Rowley action plan has been introduced and an Expert and White 2013). Table 2 shows the production of Committee appointed to reduce India’s import crude oil by region. dependence on oil by 50% by 2020, 75% by 2025, and 100% by 2030 (PTI 2013). Figure 1 shows the Import of crude oil trend in the quantity and value of crude oil imports in India, and Figure 2 compares total imports India imports about 80% of its oil, which accounts vis-à-vis imports of crude oil and petroleum for about 30% of its energy needs. India’s overall products. Table 3 gives the quantities of crude oil crude imports increased 7.6% in 2012/13,3 64% imports by country. 1 Cairn India Production Update FY 2012/13; details available at <www.cairnindia.com/Media/PressRelease/Press_Release_Q1_FY_2012_13.pdf> 2 Cairn India Financial Results Q1 FY 2013/14; details available at <www.cairnindia.com/IR/WebcastTranscripts/Transcript_for_Cairn_India_Ltd_Q1_FY2013-14_010813. pdf> 3 Details available at <http://ppac.org.in> 4 US Energy Information Administration—India Energy Report (March 2013) 5 Lok Sabha unstarred Question No. 3160, answered on 15 March 2013 84 TERI Energy & Environment Data Directory and Yearbook 2013/14 Petroleum and natural gas Table 2 Production of crude oil by region (in MT) Year Onshore Offshore Grand total Arunachal Andhra Assam/ Gujarat/ Onshore Private/JV Mumbai Offshore total Pradesh Pradesh/ Nagaland Rajasthan total High Tamil Nadu 2012/13 (P) 0.12 0.53 4.86 13.90 19.44 2.80 15.62 18.42 37.86 2011/12 0.12 0.56 5.02 12.33 18.03 3.73 16.33 20.06 38.08 2010/11 0.12 0.54 4.72 11.05 16.43 4.28 17.00 21.28 37.71 2009/10 0.13 0.54 4.73 6.40 11.81 4.52 17.34 21.86 33.67 2008/09 0.10 0.55 4.67 5.94 11.27 4.43 17.80 22.23 33.51 2007/08 0.10 0.57 4.36 6.18 11.21 4.88 18.02 22.90 34.11 2006/07 0.12 0.61 4.39 6.21 11.33 4.67 17.99 22.66 33.99 2005/06 0.10 0.6 4.47 6.25 11.43 4.45 16.31 20.76 32.19 2004/05 0.08 0.62 4.70 6.19 11.59 4.23 18.16 22.39 33.98 2003/04 0.08 0.66 4.59 6.13 11.46 4.24 17.68 21.92 33.37 2002/03 0.07 0.7 4.66 6.04 11.47 4.01 17.56 21.57 33.04 2001/02 0.07 0.72 5.10 6.00 11.89 4.07 16.07 20.14 32.03 2000/01 0.08 0.7 5.20 5.82 11.79 4.01 16.63 20.64 32.43 JV – joint venture; MT – million tonnes; P – provisional Sources MoPNG (2013); TERI (2013) '000 tonnes ` crore 200000 900000 ` crore 180000 800000 3000000 160000 700000 2500000 140000 600000 120000 500000 2000000 100000 400000 80000 1500000 60000 300000 40000 200000 1000000 100000 20000 500000 0 0 7 0 1 2 0 3(P) 7/08 10/1 1/1 1 4 7 0 1 2 1 2/1 3(P) 2006/0200 2008/092009/120 20 1 1/02 7/08 10/111/1 20 2000/0200 2002/032003/02004/052005/062006/0200 2008/092009/120 20 12/1 20 Crude oil imports (in MT) Petroleum, crude oil and product imports Total goods imports Value of crude oil imports (in ` crore) Figure 1 Quantity and value of crude oil imports in Figure 2 Imports of crude oil and petroleum products India vis-à-vis total imports P – provisional figures P – provisional figures Source <http://ppac.org.in> Source <www.rbi.org.in> TERI Energy & Environment Data Directory and Yearbook 2013/14 85 Energy supply Table 3 Quantities of crude oil imports (in MT) by country Region Country 2007/08 2008/09 2009/10 2010/11 2011/12 Middle East Saudi Arabia 26.99 25.94 27.14 27.39 32.52 Iraq 14.29 14.39 14.95 16.83 24.11 Kuwait 10.31 14.77 11.82 11.49 17.73 Iran 19.49 21.81 21.20 18.50 18.11 UAE 10.86 13.86 11.60 14.74 15.79 Qatar, Oman, Yemen, Neutral Zone, 11 4.19 17.01 16.03 10.38 Syria Subtotal 92.94 94.96 103.72 104.98 118.64 Africa Nigeria 9.92 10.54 13.2 15.81 14.13 Angola 4.34 5.31 8.99 9.95 9.01 Egypt, Algeria, Equatorial Guinea, 7.23 5.38 10.75 9.82 7.99 Sudan, Congo, Cameroon, Ivory Coast, Libya, Gabon, Chad, West Africa Subtotal 21.49 21.23 32.94 35.58 31.13 Asia Malaysia, Brunei, China, Singapore, 4.63 4.90 3.95 3.27 3.43 South Korea Subtotal 4.63 4.9 3.95 3.27 3.44 South America Venezuela 1.17 7.56 7.30 10.4 9.56 Brazil, Colombia, Ecuador, Panama 0.26 0.07 4.79 4.66 4.98 Subtotal 1.43 7.63 12.09 15.06 14.54 Eurasia Azerbaijan, Kazakhstan, Russia 2.47 1.81 3.98 1.54 1.04 North America Mexico, Canada 1.37 2.15 1.97 1.28 2.28 Europe Albania, Norway, Turkey, UK 0.41 0.22 0.2 0.02 Australia Australia 0.17 0.09 0.36 1.69 0.65 Total 124.91 132.77 159.23 163.6 171.74 MT – million tonnes; UAE – United Arab Emirates Note Relatively smaller values have been added and reported as “others” in each region.
Load more

Recommended publications
  • Cairn India Limited
    RED HERRING PROSPECTUS Please read Section 60B of the Companies Act, 1956 Dated 27 November, 2006 100% Book Built Issue CAIRN INDIA LIMITED (Incorporated as a public limited company under the Companies Act, 1956 on 21 August, 2006) The registered office of the Company was changed from Lentin Chambers, 3rd Floor, Dalal Street, Fort, Mumbai 400 023 to 401 Dalamal Towers, Nariman Point, Mumbai 400 021, India, its current registered office on 12 October, 2006 Tel: +(91) (22) 2287 2001; Fax: +91 (22) 2287 2002 Principal Business Office: 3rd and 4th Floor, Orchid Plaza, Suncity, Sector 54, Gurgaon, 122 002 Tel: +(91) (124) 414 1360; Fax: +(91) (124) 288 9320; Website: www.cairnindia.com Contact Person: Preeti Chheda; E-mail: [email protected] PUBLIC ISSUE OF 328,799,675 EQUITY SHARES OF RS. 10 EACH (‘‘EQUITY SHARES’’) FOR CASH AT A PRICE OF RS. [ɀ] PER EQUITY SHARE OF CAIRN INDIA LIMITED (THE ‘‘COMPANY’’) AGGREGATING TO RS. [ɀ] (THE ‘‘ISSUE’’). THERE WILL ALSO BE A GREEN SHOE OPTION OF UP TO 49,319,951 EQUITY SHARES FOR CASH AT A PRICE OF RS. [ɀ] PER EQUITY SHARE AGGREGATING TO RS. [ɀ] (THE ‘‘GREEN SHOE OPTION’’). THE ISSUE AND THE GREEN SHOE OPTION, IF EXERCISED IN FULL, WILL AGGREGATE TO 378,119,626 EQUITY SHARES AMOUNTING TO RS. [ɀ]. THE ISSUE WILL CONSTITUTE 18.63% OF THE FULLY DILUTED POST-ISSUE EQUITY SHARE CAPITAL OF THE COMPANY ASSUMING THAT THE GREEN SHOE OPTION IS NOT EXERCISED AND 20.84% ASSUMING THAT THE GREEN SHOE OPTION IS EXERCISED IN FULL.
    [Show full text]
  • India CCS Scoping Study: Final Report
    January 2013 Project Code 2011BE02 India CCS Scoping Study: Final Report Prepared for The Global CCS Institute © The Energy and Resources Institute 2013 Suggested format for citation T E R I. 2013 India CCS Scoping Study:Final Report New Delhi: The Energy and Resources Institute. 42pp. [Project Report No. 2011BE02] For more information Project Monitoring Cell T E R I Tel. 2468 2100 or 2468 2111 Darbari Seth Block E-mail [email protected] IHC Complex, Lodhi Road Fax 2468 2144 or 2468 2145 New Delhi – 110 003 Web www.teriin.org India India +91 • Delhi (0)11 ii Table of Contents 1. INTRODUCTION ..................................................................................................................... 1 2. COUNTRY BACKGROUND ...................................................................................................... 1 3. CO2 SOURCES ......................................................................................................................... 7 4. CURRENT CCS ACTIVITY IN INDIA ..................................................................................... 15 5. ECONOMIC ANALYSIS .......................................................................................................... 19 6. POLICY & LEGISLATION REVIEW ......................................................................................... 26 7. CAPACITY ASSESSMENT ...................................................................................................... 27 8. BARRIERS TO CCS IMPLEMENTATION IN INDIA ...............................................................
    [Show full text]
  • Prefeasibilty Report of Lng Terminal at Essar Bulk
    Prefeasibility Report for Proposed Floating LNG Terminals in Tapi River estuary at Hazira, Gujarat ESSAR ENERGY SERVICES LIMITED JUNE 2016 ESSAR ENERGY SERVICES LIMITED Prefeasibility Report for Proposed Floating LNG Terminal at Hazira This report is prepared for the use of Essar Energy Services Limited, Hazira, Regulators and relevant stakeholders solely as part of the subject project’s Environmental Clearance process. Information provided (unless attributed to referenced third parties) is otherwise copyrighted and shall not be used for any other purpose without the written consent of Essar Energy Services Limited (EESL). Report Details Proposal No. EESL/EIA/LNG TERMINAL Release Date: June 13, 2016 Report No. 1 Version 1 Prepared By Ashutosh Mathur Reviewed By V.Vaidyanathan Approved By Capt. S. Das , CEO Office: 27 KM Surat Hazira Road, Surat -394270; E-mail: [email protected] T:+91-261-668-2171; F:+91-261-668-2296 PAGE | 2 PFR - LNG TERMINALS AT HAZIRA BY ESSAR ENERGY SERVICES LIMITED CONTENTS 1 LIST OF KEY ABBREVIATIONS ..............................................................................5 2 EXECUTIVE SUMMARY.........................................................................................6 2.1 BACKGROUND ................................................................................................ 6 2.2 PROJECT BRIEF .............................................................................................. 6 2.3 PROJECT LOCATION .......................................................................................
    [Show full text]
  • Vedanta Limited and Cairn India Revise Terms for Merger
    THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION 22 July 2016 VEDANTA LIMITED AND CAIRN INDIA REVISE TERMS FOR MERGER Vedanta Limited, Cairn India Limited (“Cairn India”) and Vedanta Resources plc (“Vedanta plc” together with its subsidiaries, the “Group”), today announce revised and final terms to the recommended merger between Vedanta Limited and Cairn India (the “Transaction”), that was announced on 14 June 2015. Key Highlights o The Boards of Vedanta Limited and Cairn India have today approved revised and final terms for the Transaction, taking into account prevailing market conditions and having regard to underlying commercial factors. o Pursuant to the revised and final terms, each Cairn India minority shareholder will receive for each equity share held: - 1 equity share in Vedanta Limited; and - 4 Redeemable Preference Shares with a face value of INR 10 in Vedanta Limited, with a coupon of 7.5% and tenure of 18 months from issuance. - Implied premium of 20% to one month VWAP of Cairn India share price. o The recent commodity price environment has further strengthened the strategic rationale of the Transaction outlined at the announcement: - Diversified Tier-I portfolio de-risks earnings volatility and drives stable cash flows through the cycle. - Strong historical evidence over the last 10 years, of diversified resources companies generating total shareholder returns superior to single-commodity companies. - Improved ability to allocate capital to the highest return projects across the portfolio.
    [Show full text]
  • Before the Gujarat Electricity Regulatory Commission at Ahmedabad Petition No.256/2003 & 867/2006
    BEFORE THE GUJARAT ELECTRICITY REGULATORY COMMISSION AT AHMEDABAD PETITION NO.256/2003 & 867/2006 In the matter of: Levy of Parallel Operation Charges for the Captive Power Plants running in parallel of the grid of the Gujarat Energy Transmission Corporation Limited’s and Distribution Companies. Petitioner : Gujarat Energy Transmission Corporation Limited, Vadodara. Co-Petitioners: 1. Madhya Gujarat Vij Company Ltd., Vadodara. 2. Dakshin Gujarat Vij Company Ltd., Surat. 3. Uttar Gujarat Vij Company Ltd., Mehsana. 4. Paschim Gujarat Vij Company Ltd., Rajkot. V/s. Respondents: 1. M/s.Torrent Gujarat Bio Tech, Masar. 2. M/s.Petronet LNG Ltd., Dahej. 3. M/s.GACL, Dahej Vagra. 4. M/s.GSFC, Fertilizernagar, Vadodara. 5. M/s.Gujarat Glass Pvt.Ltd., Uchhad. 6. M/s.Solaris Bio-Chemical Ltd., Karakhadi. 7. M/s.ONGC (Kawas), Hazira, Surat. 8. M/s.Videocon International Ltd., Cahvaj. 9. M/s.Nilkanth Concast Pvt.Ltd., Vadala. 10. M/s.Dipak Nitrite Ltd., Nadesari. Baroda. Page 1 of 46 11. M/s.Alembic Chemicals, Baroda. 12. M/s.Hindalco, Dahej. 13. M/s.IPCL, Dahej-Gandhar. 14. M/s.Modern Petrofiles Ltd., Bamangam. 15. M/s.Narmada Cement Co.Ltd., Jafrabad. 16. M/s.IPCL, Jawaharnagar, Vaodadara. 17. M/s.Daman Ganga Paper Ltd., Ambethi, Vapi. 18. M/s. SAL Steel Ltd. Gandhidham, Kutch. 19. M/s.Mid India Engineer, Anjar, Kutch. 20. M/s.Reliance Industries Ltd., Motikahvadi, 21. M/s.Orient Obresive Ltd., Porbandar. 22. M/s.Nirma, Kalatalav, Bhavnagar. 23. M/s.L&T Ltd. Kovaya, Jafrabad, Amreli. 24. M/s.Arvind Mills Ltd., Naroda, Ahmedabad.
    [Show full text]
  • G20 Subsidies to Oil, Gas and Coal Production
    G20 subsidies to oil gas and coal production: India Vibhuti Garg and Ken Bossong Argentina Australia Brazil Canada China France Germany India Indonesia Italy Japan Korea (Republic of) Mexico Russia Saudi Arabia This country study is a background paper for the report Empty promises: G20 subsidies South Africa to oil, gas and coal production by Oil Change International (OCI) and the Overseas Turkey Development Institute (ODI). It builds on research completed for an earlier report The fossil United Kingdom fuel bailout: G20 subsidies to oil, gas and coal exploration, published in 2014. United States For the purposes of this country study, production subsidies for fossil fuels include: national subsidies, investment by state-owned enterprises, and public finance.A brief outline of the methodology can be found in this country summary. The full report provides a more detailed discussion of the methodology used for the country studies and sets out the technical and transparency issues linked to the identification of G20 subsidies to oil, gas and coal production. The authors welcome feedback on both this country study and the full report to improve the accuracy and transparency of information on G20 government support to fossil fuel production. A Data Sheet with data sources and further information for India’s production subsidies is available at: http://www.odi.org/publications/10073-g20-subsidies-oil-gas-coal-production-india priceofoil.org Country Study odi.org November 2015 Background remained substantial at $11 billion in 2014–15 (MoPNG, India has substantial fossil fuel reserves, including 61 2015b). Similar consumer subsidies of approximately billion tonnes of coal, 5.7 billion barrels of oil and 1.4 $12 billion in 2012–13 existed in the electricity sector.
    [Show full text]
  • Running an Oil Company in India by Sastry Karra
    RUNNING AN OIL COMPANY IN INDIA BY SASTRY KARRA FROM 1999 – 2009 INTRO 1 INDIA BACKGROUND • POPULATION 1.3 BN • AREA - 3.3 MM SQ KM, A THIRD OF CANADA • 5,000 YEARS (OR MORE) OF HISTORY • YOUNG POPULATION - AVERAGE 24 YEARS OLD • SIZEABLE ILLITERACY AND POVERTY STILL REMAINS • PROBLEMS ARE MYRIAD • MANY CHALLENGES 2 INDIA AND CHINA ACCOUNTED FOR 75% OF WORLD GDP IN THE 15TH CENTURY UNLIKELY THEY WILL REACH BUT ROBUST GROWTH WILL AND INDIA, FOURTH TODAY THIS FIGURE AGAIN PUSH CHINA AS THE NO 1 WILL REACH 3RD POSITION ECONOMY SOON TECHNOLGY BILLION CELL PHONESPACE MOST NUMBER OF CELL PHONES ACHIEVEMENTS IN SPACE MANY FIRSTS JUST LAUNCHED A VESSEL TO MARS 3 FROM OUT-SOURCING AND BACKOFFICE TO INTERNET AND CORPORATE POWER • FINANCIAL ANALYSIS FOR MOST USA, CANADIAN AND EUROPEAN BANKS • A YOUTH FROM HYDERABAD NOW CEO OF MICROSOFT • ANOTHER YOUNG MAN FROM CHENNAI CEO OF GOOGLE • SEVERAL CEOS OF WESTERN BANKS • CEO OF PEPSI • MAJORITY ON THE DIAMOND COUNCIL IN ANTWERP 4 OIL AND GAS SITUATION • ONLY 4% OF WORLD’S SEDIMENTARY BASINS IN INDIA SERVING 18% OF POPULATION • STILL MANY AREAS REMAIN TO BE EXPLORED • YEAR 2002 WAS A GREAT YEAR WITH RELIANCE MAKING BIOGENIC GAS DISCOVERIES IN THE KRISHNA GODAVARI (KG) BASIN DEEP WATER • CAIRN MADE MEGA DISCOVERIES IN RAJASTHAN • CURRENT IMPORTS 4 MMSTB OF OIL PER DAY AND 15 MMT/YR OF LNG • DEMAND SOARING AND DOMESTIC PRODUCTION ON DECLINE 5 FOREIGN OIL COMPANIES IN INDIA • FEW EXPLORATION WELLS DRILLED PRIOR TO THE EIGHTIES WITH NO SUCCESS • EARLY NINETIES SAW THE ENTRY OF CAIRN ENERGY, HARDY OIL, NIKO
    [Show full text]
  • Gujarat's Electricity Sector Transformation
    Tim Buckley, Director for Energy Finance Studies, Australasia 1 Kashish Shah, Research Analyst August 2019 Gujarat’s Electricity Sector Transformation A Role Model of India’s Electricity Transition Executive Summary GUJARAT, LOCATED ON THE WESTERN COAST OF INDIA, IS AN ECONOMIC POWERHOUSE that contributed roughly 8% of India’s total gross domestic product (GDP) between 2011/12 and 2018/19. It is one of the most industrially focussed states in India, with three quarters of Gujarat’s state GDP coming from the industrial sector. IEEFA also identifies Gujarat as one of the five leading Indian states for renewable energy in terms of both existing generation capacity as well as future potential. There was 2 gigawatt (GW) of solar power capacity, 6GW of wind power capacity and 0.5GW of biomass capacity operational as of March 2019. India’s Ministry of New and Renewable Energy (MNRE) estimates Gujarat’s renewables potential to be 72.7GW, equally balanced between solar and wind energy potential. This includes the 5GW Dholera Solar Park, the largest proposed solar development in the world to-date. August 2019 saw NTPC announce plans for another 5GW of solar park at Kutch in Gujarat during its annual investor meet for FY2018/19. This announcement puts Gujarat ahead in the race for building renewables capacity between states such as Tamil Nadu, Karnataka, Maharashtra, Andhra Pradesh and Rajasthan with similar renewable energy potential. GUJARAT’S CURRENT ELECTRICITY MIX IS DOMINATED BY THERMAL POWER SOURCES. The 22.3GW of thermal capacity comprises 15.8GW of coal-fired and 6.6GW of gas-fired capacity.
    [Show full text]
  • Cairn Energy Plc Annual Report & Accounts 2009
    CAIRN ENERGY PLC ANNUAL REPORT & ACCOUNTS 2009 WE ARE CAIRN ENERGY, ONE OF EUROPE’S LARGEST INDEPENDENT OIL AND GAS EXPLORATION AND PRODUCTION COMPANIES. WE ARE LISTED ON THE LONDON STOCK EXCHANGE AND BASED IN EDINBURGH. OUR BUSINESS IS DIVIDED INTO TWO KEY UNITS: ONE FOCUSED ON DEVELOPING THE RAJASTHAN RESOURCE BASE; THE OTHER EXPLORING FRONTIER BASINS IN GREENLAND. OVERVIEW 1 Highlights of the Year 4 Who We Are and What We’ve Achieved in 2009 8 Values, Vision and Approach 12 The Rajasthan Development BUSINESS REVIEW 14 Chairman’s Statement 16 Chief Executive’s Review 20 Operational Review 28 Financial Review 32 Principal Risks and Uncertainties 34 Corporate Responsibility 42 Board of Directors 44 Directors’ Report GOVERNANCE 52 Corporate Governance Statement 62 Directors’ Remuneration Report 78 Principal Licence Interests 80 Independent Auditor’s Report to the Members of Cairn Energy PLC FINANCIAL ACCOUNTS 81 Group Income Statement 82 Statements of Comprehensive Income 83 Balance Sheets 84 Statements of Cash Flows 85 Statements of Changes in Equity 86 Notes to the Accounts 141 Reserves 142 Glossary of Terms 144 Notice of Annual General Meeting 148 Company Information An HTML version of this report is available “ THE GROUP OFFERS AN ATTRACTIVE to view at www.cairnenergy.com/AR2009 – please take the time to have a look. In addition, while you will find a summary BALANCE BETWEEN THE STRONG of our CR performance in this report, the full CR report is only available online this year, CASH FLOWS THAT WILL BE at www.cairnenergy.com/CRR2009 www.cairnenergy.com/AR2009
    [Show full text]
  • Fundamentals and Estimations of Vedanta Buyout of Cairn India
    Munich Personal RePEc Archive International Diversification through Acquisition: Fundamentals and Estimations of Vedanta buyout of Cairn India Reddy, Kotapati Srinivasa 2010 Online at https://mpra.ub.uni-muenchen.de/74304/ MPRA Paper No. 74304, posted 06 Oct 2016 17:43 UTC Page 1 of 43 International Diversification through Acquisition: Fundamentals and Estimations of Vedanta buyout of Cairn India Kotapati Srinivasa Reddy First draft July – October 2010 Under the kind guidance of V.K. Nangia Professor& Head, Department of Management Studies Rajat Agrawal Assistant Professor, Department of Management Studies Indian Institute of Technology (IIT) Roorkee, Roorkee - 247667 Uttarakhand. (India). Page 2 of 43 International Diversification through Acquisition: Fundamentals and Estimations of Vedanta buyout of Cairn India Abstract Corporate valuations, financial strength in cash flows and opening up of debt facility favour more overseas acquisitions. Historically, corporate restructuring is a strategic, mechanized and chemical formula for achieving external growth to become a globalized diverse company. The phenomenon of ‘diversification’ is not new, where it was born in the timeline of the Kings. Markets are becoming highly connective, accessible, communicative and are reaching maturity at a very high phase. Acquisition is a choice to enhance the emerging and diversified markets. This case- based research study presents a case discussion, case analysis and opinion based inference on Vedanta – Cairn India cross-border acquisition deal in Indian oil and exploration industry. We also suggest a new forecasting model to estimate future free cash flows and firm valuation in the upcoming research field of corporate finance. The study exclusively shows reaction of stocks against acquisition announcement and compares with market performance.
    [Show full text]
  • Cairn's Merger with Vedanta
    MUMBAI SILICON VALLEY BANGALORE SINGAPORE MUMBAI BKC NEW DELHI MUNICH NEW YORK Cairn’s Merger With Vedanta ‘Fair’ or ‘Socializing The Debt of Vendanta’? January 2016 © Copyright 2016 Nishith Desai Associates www.nishithdesai.com Cairn’s Merger With Vedanta ‘Fair’ or ‘Socializing The Debt of Vendanta’? About NDA Nishith Desai Associates (NDA) is a research based international law firm with offices in Mumbai, Bangalore, Silicon Valley, Singapore, New Delhi & Munich. We specialize in strategic legal, regulatory and tax advice coupled with industry expertise in an integrated manner. We focus on niche areas in which we provide significant value and are invariably involved in select highly complex, innovative transactions. Our key clients include marquee repeat Fortune 500 clientele. Our practice areas include International Tax, International Tax Litigation, Litigation & Dispute Resolution, Fund Formation, Fund Investments, Corporate & Securities Law, Mergers & Acquisitions, Competition Law, JVs & Restructuring, Capital Markets, Employment and HR, Intellectual Property, International Commercial Law and Private Client. Our specialized industry niches include funds, financial services, IT and telecom, pharma and healthcare, media and entertainment, real estate and infrastructure & education. Nishith Desai Associates has been ranked as the Most Innovative Indian Law Firm (2014 & 2015) at the Innovative Lawyers Asia-Pacific Awards by the Financial Times - RSG Consulting. Nishith Desai Associates has been awarded for “Best Dispute Management lawyer”, “Best Use of Innovation and Technology in a law firm”, “Best Dispute Management Firm”, and “M&A Deal of the year” by IDEX Legal 2015 in association with three legal charities; IDIA, iProbono and Thomson Reuters Foundation. Nishith Desai Associates has been recognized as a Recommended Tax Firm in India by World Tax 2015 (International Tax Review’s directory).
    [Show full text]
  • For Maintainability for Waiver of Court Fee/Leave to File Appeal
    APPELLATE TRIBUNAL FOR ELECTRICITY, NEW DELHI Cause List for Tuesday, 14th March, 2017 TIME: 11.00 A.M. COURT - I CORAM: HON’ BLE MRS. JUSTICE RANJANA P. DESAI, CHAIRPERSON HON’ BLE MR. I.J. KAPOOR, TECHNICAL MEMBER For Maintainability S. Case No. Parties Name of Counsel for No. Appellant/Respondent Mrs./Mr. 1. DFR-265/17 Coastal Gujarat Power Ltd. Amit Kapur -Appellant(s) Versus Central Electricity Regulatory Commission & Ors. -Respondent(s) For Waiver of court fee/Leave to file appeal/Condonation of delay 2. IA-127/17 Kerala State Electricity Board Ltd. Ritin Rai, Jayant Malik In -Appellant(s) DFR-262/17 Versus Central Electricity Regulatory IA-127/17 Commission & Ors. (Delay in filing) -Respondent(s) 3. IA-129/17 M/s. Essar Power (Jharkhand)Ltd. Shruti Dass In -Appellant(s) DFR-67/17 Versus Central Electricity Regulatory IA-129/17 Commission & Ors. (Delay in filing) -Respondent(s) 4. IA-130/17 Maharashtra Aquaculture Farmer’s Prashant S. Kenjale IA-131/17 Association -Appellant(s) IA-132/17 Versus In Maharashtra Electricity Regulatory DFR-254/17 Commission & Ors. –Respondent(s) IA-130/17 (For leave to file appeal) IA-131/17 (Delay in filing) IA-132/17 (Waiver of court fee) 5. IA-214/17 Jindal Power Ltd. –Appellant(s) Divya Chaturvedi In Versus DFR-732/17 Central Electricity Regulatory Commission & Ors. –Respondent(s) IA-214/17 (Delay in filing) For Admission 6. 49/17 Cairn India Ltd. –Appellant(s) Hemant Singh, Sandeep Padhi, Versus Matrugupta Misra, Saahil Kaul Rajasthan Electricity Regulatory Commission & Ors. –Respondent(s) For Admission After Notice 7.
    [Show full text]