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ADDENDUM : How to deal with anxiety ? [-]
"Worrying is carrying tomorrow's load with today's strength- carrying two days at once. It is moving into tomorrow ahead of time. Worrying doesn't empty tomorrow of its sorrow, it empties today of its strength." - Corrie ten Boom

"Man is not worried by real problems so much as by his imagined anxieties about real problems" - Epictetus

"Okay, so, flying," I started, taking a deep breath and focusing on the thing I loved most in the world. "Flying is … great. It feels great when you're doing it. It's fun. Pure freedom. There's nothing better." Dylan smiled, a slow, easy smile that seemed to light up his whole face. "So the first thing we're going to do," I told him, "is push you off the roof." - James Patterson, Fang

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GAIL's PAT up 57 % in FY 2016-17
y-o-y ; touches Rs 3,503 cr


Thesynergyonline Corporate Bureau

 

 


 
NEW DELHI, MAY 22 : GAIL (India) registered a 57 per cent rise in profit after tax (PAT) for the Financial Year 2016-17 with the PAT increasing to Rs 3,503 crore from Rs 2,226 crore in the last fiscal.

The rise in profit was boosted largely by a turnaround in the company's petrochemical business, increase in profits from gas transmission business

 

and partial sale of stake in Mahanagar Gas Limited (MGL), despite lower price realisation in polymer and liquid hydrocarbons. These results are after considering impairment of investment in Ratnagairi Gas and Power Pvt. Ltd. (RGPPL) in the 4th quarter of FY 2016-17 for Rs.783 crore.

GAIL's PAT excluding non-operating one offs (i.e. gain from stake sale in MGL and impairment of Investments in RGPPL) is Rs 3,797 crore, an increase of 71 per cent year-on-year (y-o- y).

The board has proposed a final total dividend of Rs 2.70 per share (subject to approval of shareholders) making the total dividend for the year Rs. 1,535 crore, up by 120 per cent as compared to FY 2015-16.

The earning per share is also up by 57 per cent to Rs. 20.71 per share on increased paid-up equity. During FY 16-17, GAIL also issued bonus share in ratio of one bonus share for every three equity shares held.

The company registered growth in physical performance in FY 2016-17 in all segments on year-on-year basis. Sale of petrochemicals was up by 73 per cent, natural gas marketing and transmission volumes rose by 10 per cent and 9 per cent respectively, LPG transmission volume was up by 19 per cent while liquid hydrocarbon sales went up by 2 per cent.


On quarterly basis, GAIL's PAT in the 4th quarter of FY 2016-17 decreased by 69 per cent to Rs 260 crore from Rs 832 crore in the corresponding period of the last fiscal due to accounting of impairment of investments in RGPPL for Rs 783 crore.

The quarterly profit without the impact of the above impairment is Rs 1,043 crore, which is higher by 25 per cent on y-o- y basis.

During the quarter, the company registered growth in physical performance in all segments as compared to corresponding period of the previous year with petrochemicals sales up by 59 per cent, natural gas marketing and transmission volumes up by 11 per cent and 6 per cent respectively, LPG Transmission volumes increasing by 22 per cent and liquid hydrocarbon sales rising by 6 per cent.

GAIL's PAT in the fourth quarter of FY 2016-17 rose by 6 per cent vis-à-vis the third quarter (excluding impairment of Investments in RGPPL) of current financial year, from Rs. 983 crore to Rs 1,043 crore.

During the year 2016-17 as per consolidated financial statements, the total group sales (Gross) stood at Rs. 49,237 crore and the Group PAT was Rs. 3,374 crore. CGD group companies (IGL, MGL, GAIL GAS) and PLL have continued to add to the group profit.

However, ONGC Petro Additions Ltd and Brahmaputra Cracker and Polymer Ltd., being in their first year of operation and under stabilisation did not positively contribute to the Group bottom line. Taking together the impact, EPS as per consolidated statement was Rs. 19.91 per share as against Rs. 11.05 per share in the previous year.

"The elimination of profit, whatever methods may be resorted to for its execution, must transform society into a senseless jumble." - Ludwig von Mises, Planning for Freedom, and Sixteen Other Essays
 

ONGC Tripura Power net profit up 906 %
at Rs 130.45 crore in FY'17

Thesynergyonline Corporate Bureau

"No profit grows where is no pleasure ta'en. In brief, sir, study what you most affect."- William Shakespeare, The Taming of the Shrew

"You have to work on the business first before it works for you." - Idowu Koyenikan, Wealth for All: Living a Life of Success at the Edge of Your Ability

"No profit grows where is no pleasure ta'en. In brief, sir, study what you most affect." - William Shakespeare, The Taming of the Shrew

"It's good to have a special price to pay for the future and it will pay you in return, in the exact way you would wish to be paid."

NEW DELHI, MAY 18 :
ONGC Tripura Power Company (OTPC – joint venture company of ONGC, IL&FS, IDFC and Govt of Tripura), has declared maiden dividend of 7.5 per cent of paid-up equity share capital of Rs.1120 crore amounting to Rs. 84 Crore for FY 16-17, within two years of commencement of full operation of Palatana Power Project. With this, OTPC becomes the first dividend paying standalone gas based power generation company in India .

The company achieved highest ever gross generation of 4170 MUs during FY 16-17 which surpasses previous annual best of 3481 MUs in FY 15-16.

The power company has achieved encouraging performance on financial parameters also in FY 16-17. The company has achieved a turnover of Rs 1297.89 crore in FY 16-17, up 18 per cent from Rs 1099.42 Crore in FY 15-16.

The company registered a net profit after tax (PAT) of Rs.130.45 crore in FY 16-17, up 906 per cent as compared to Rs 12.96 crore in the previous year, after providing for Interest of Rs 246.48 crore (Rs.278.36 crore in FY 15-16), depreciation of Rs 191.34 crore (Rs.201.46 crore in FY 15-16) and tax liability of Rs 28.72 crore (Rs 0.25 lakh in FY 15-16).

OTPC is registered as a CDM project and 1.7 million Carbon Emission Reduction (CER) certificates have been issued by UNFCCC.


OTPC is operating a 726 mw gas based combined cycle power plant at Palatana in Tripura which is the largest in North-Eastern region of India. The power utility plays a major role in meeting the power needs of the North Eastern Region contributing to its economic and social development by meeting around 35 per cent power requirement of North Eastern States.

MRPL PAT up 218 % at Rs 3, 644 crore in FY’17 ; pays 60 % dividend


Thesynergyonline Corporate Bureau

MRPL results

The company has posted highest ever profit after tax (PAT) for Q4 FY 2016-17 of Rs 1,942 crore (after considering Rs 170 crore as depreciation, Rs 122 crore as Interest Cost, Net Foreign Exchange gain of Rs 305 crore), as against PAT of Rs 1362 crore for Q4 FY 2015-16. However, the throughput of 4.23 mmt for the Q4 FY 2016-17 is marginally lower as against 4.52 mmt in Q4 FY 2015-16 on account of shutdown of one of the primary unit for 5 days in the quarter.
Untitled Document 



 
NEW DELHI, MAY 17 : Mangalore Refinery and Petrochemicals Limited,(MRPL) , subsidiary Company of Oil and Natural  Gas Corporation (ONGC)  posted highest ever profit after tax (PAT) of  Rs  3,644 crore in the fiscal 2016-17 -(after considering Rs 678 crore as depreciation, Rs  517 crore as interest cost, net foreign exchange loss of  Rs  59 crore), as against profit after tax  (PAT)  of Rs 1,147 crore  in FY 2015-16, rise of 218 per cent.


The company registered profit before tax (PBT) of  Rs  5,531 crore in the fiscal 2016-17 as  Rs 1, 158 crore in the fiscal 2015-16 , rise of 378 per cent.The exceptional income of Rs 1,597 crore  considered in arriving the PAT  in FY16-17 was on account of exchange rate variation gain arising out of settlement of trade payables.


MRPL has achieved  highest ever PBT of  Rs 2,897  crore  in Q4 FY 2016-17.
The company has posted profit after tax (PAT) of Rs 1,942 crore in the fourth quarter of 2016 – 17 as against Rs 1,362 crore in the Q4 of 1015-16, up 43 per cent.  

 
It has posted  turnover of  Rs  18,100 crore for the fourth quarter of FY 2016-17 which shows an increase of 34 per cent as compared to Rs 13,477  crore in the corresponding quarter of FY 2015-16. This is mainly on account of increase in the product prices as compared to the corresponding quarter.
 The Company has achieved highest ever throughput of 16.27  mmtfor the FY 2016-17 as against 15.69 mmt in the last FY 2015-16.


The company has achieved a turnover of  Rs 59,415 crore (exports Rs 14,457 crore) in FY 2016-17 as against Rs 50,864 crore (exports Rs  12,616 crore) in the FY 2015-16 (overall increase by 17 per cent and exports by 15 per cent).


The increase in turnover is on account of increase in throughput and also due to increase in product prices.

The company has posted highest ever profit after tax (PAT) for Q4 FY 2016-17 of  Rs 1,942 crore (after considering  Rs 170 crore as Depreciation, ` 122 Crore as Interest Cost, Net Foreign Exchange gain of ` 305 Crore), as against PAT of Rs 1362 crore for Q4 FY 2015-16. However, the throughput of 4.23 mmwt for the Q4 FY 2016-17 is marginally lower as against 4.52 mmt in Q4 FY 2015-16 on account of shutdown of one of the primary unit for 5 days in the quarter.


The company has achieved Turnover of  Rs 18,100 crore (exports  Rs 3,913 crore) for the Q4 FY 2016-17 as against Rs 13,477  crore (exports  Rs  3,375 crore) in the corresponding quarter of FY 2015-16 (overall increase by 34 per cent). 


The increase is mainly on account of increase in the product prices during the current quarter as compared to the corresponding quarter. Further, the percentage of dispatches for export sales to total sales has decreased on account of more domestic off take.


The company has recommended dividend @ 60 per cent (i.e. ` 6 per share) amounting to Rs 1,051.56 crore.


The company has increased its strong market presence by way of direct marketing of its products Petcoke, Sulphur and Polypropylene. The company is increasing the product grades of Polypropylene to enhance Polypropylene market share and thereby fetch higher margins.

 

 

 

"Today's digital organizations simply just can't stand still. Bridging the 'gap of opportunity' between where you are and want to become is a welcomed challenge."
― Pearl Zhu, Digital Gaps: Bridging Multiple Gaps to Run Cohesive Digital Business

 

Latched on to digitalization IndianOil to build digital platform to boost customer experience

Thesynergyonline Corporate Bureau

 


NEW DELHI, MAY 11 : "The industrial-based enterprise of the 20th century had run out of gas, and the digital enterprise of the 21st century has the new characteristics and DNA of innovation."
― Pearl Zhu, It Innovation: Reinvent It for the Digital Age


Indian Oil Corporation Limited (IndianOil) has launched an ambitious digital platform to dramatically enhance the quality of customers' experience. Titled 'EPIC' (E-Platform for IndianOil Customers), the transformational IT project was launched by Mr B Ashok, Chairman, IndianOil, in the presence of Mr AK Sharma, Director (Finance); Mr Anish Aggarwal, Director (Pipelines), IndianOil; Mr Francois Lancon, Senior VP (Asia Pacific), Oracle Corporation; Mr. Karan Bajwa, MD, IBM India; and other senior officials from IndianOil, Oracle and IBM India.

"Bridging innovation gaps is a strategic imperative for business execution."
― Pearl Zhu, Digital Gaps: Bridging Multiple Gaps to Run Cohesive Digital Business

One of the biggest IT projects globally in terms of its scale and size, this project will facilitate a superior customer experience through better backend integration between IndianOil and its countrywide reseller network. Leveraging cutting-edge technology currently available worldwide in this area, this project will give IndianOil the first-mover advantage. It envisages creating a 360-degree view of IndianOil's customers, integrating & customising marketing efforts across productlines, swifter response to customer service requests, including grievances, and presenting a unified customer experience across various access devices such as mobile phones, tablets and desktops.

Speaking on the occasion, Mr. Ashok invoked the message of Mahatma Gandhi on the supremacy of the customer to any business. He said that the impact of Project 'EPIC' would transcend generations of IOCians. It would deepen IndianOil's engagement with millions of its customers and ensure that the Company continues to be India's preferred fuel retailer.

"The success of strategy management undoubtedly lies in the "timely execution." - Pearl Zhu, CIO Master: Unleash the Digital Potential of It [-]
"IT is a holistic "digital brain" of the organization." - Pearl Zhu, Digital Master: Debunk the Myths of Enterprise Digital Maturity
 

"Women with clean houses do not have finished books." - Joy Held  

UClean and Alliance Laundry Systems
USA join hands for a strategic tieup

Thesynergyonline Corporate Bureau

"I am clumsy, drop glasses and get drunk on Monday afternoons. I read Seneca and can recite Shakespeare by heart, but I mess up the laundry, don't answer my phone and blame the world when something goes wrong. I think I have a dream, but most of the days I'm still sleeping. The grass is cut. It smells like strawberries. Today I finished four books and cleaned my drawers. Do you believe in a God? Can I tell you about Icarus? How he flew too close to the sun? I want to make coming home your favourite part of the day. I want to leave tiny little words lingering in your mind, on nights when you're far away and can't sleep. I want to make everything around us beautiful; make small things mean a little more. Make you feel a little more. A little better, a little lighter. The coffee is warm, this cup is yours. I want to be someone you can't live without. I want to be someone you can't live without." - Charlotte Eriksson

NEW DELHI, MAY 10 : UClean- India's digitally enabled laundry and home cleaning services chain, has announced a strategic association with Alliance Laundry Systems, U.S.A.- manufacturer of commercial laundry equipment in the world. All the laundry equipment across all UClean stores in India would be supplied by Alliance Laundry Systems. Given that UClean has plans to develop about 300 to 350 stores on a pan India basis over the next 3 years, this would see Alliance Laundry Systems supplying equipment worth about Rs 35 crore to UClean over the next 3 years.


In addition to supplying the equipment, Alliance is also investing their time and efforts in training the UClean team on the nuances of laundry operations and handholding them during the initial teething period.


UClean, with its tremendous experience in franchising and the strong focus on developing a cleaning ecosystem, will help Alliance in developing the Laundromat culture in India. Alliance Laundry Systems is investing their resources in sales and after-sales support system in the country to help credible partners like UClean.
Alliance Laundry Systems is a worldwide industry leader which is helping customers around the globe to find higher profits and success through high-quality laundry solutions. With an objective to see growth opportunities in the laundry segment in India, Alliance and UClean have join hands and working together to usher the "Laundry revolution" in India.


Talking about the association Arunabh Sinha, Founder & CEO -UClean said, "We are excited about the huge opportunity that the laundry segment presents in the country. Laundry has existed since the very beginning of time. Unfortunately, the processes and systems used by most laundry operators in India are carried over from the ancient times. Alliance Laundry Systems are the most advanced laundry manufacturing company in the world and hence this partnership would help us build systems that are advanced, efficient and quality focused. Together, we are looking forward to change the way laundry is done in the country." 

Neil Ghadi, Country Head India,Nepal and Bhutan for Alliance Laundry Systems, said, "Alliance Laundry Systems is extremely optimistic and positive on its association with UClean and entry to India. The culture of Laundromats is starting to take roots in India and the conventional players "Dhobis" in India are also moving to sophisticated washing machines to provide best quality service and optimize their time. Alliance Laundry Systems sees growth opportunities in this segment in India and for customers who want to participate in it."

'UClean', India's first organized chain of tech-enabled laundry and home cleaning store was founded by Arunabh Sinha in October 2016. It helps in making laundry convenient, non cumbersome and time saving. The main focus of UClean is to foster the DIY (Do It Yourself) culture across India. With technology at the heart of the brand, UClean also enables the time crunched customer to avail pick-n- drop service from the comforts of his home or office. To make it more convenient for their customers, UClean has several options from scheduled bookings at app, website, store or call centre to anytime walk-ins at the store.

At present, UClean has brick and mortar units at Sushant Lok Phase 1, Gurgaon, Vasant Kunj- New Delhi, Noida Sector 29 and will soon be expanding to DLF Cyber City, Sohna Road, Hitec City- Hyderabad, Magarpatta City- Pune and Senapati Bapat Road- Pune.

 

GAIL awards pipeline laying work
contracts for another 131 km in Kerala

75 % of Kochi – Koottanad – Mangaluru pipeline now in construction phase

Thesynergyonline Corporate Bureau

Pipeline works

Construction works from both the ends of the Kochi – Koottanad – Mangaluru pipeline i.e., in the 91 km Kochi – Koottanad Section as well as in the 105 Km Perole (Kasargod) – Mangaluru Section are already in full swing. With thes award of contracts over 75 per cent of the Kochi – Koottanad – Mangaluru pipeline will be in the construction phase.
Untitled Document 


NEW DELHI, MAY 01: Carrying forward the momentum for natural gas pipeline works in Kerala, GAIL (India) has awarded contracts for pipeline laying works of the Kochi – Koottanad – Mangaluru pipeline for another 131 km section from Areacode (Malappuram) to Kurumathoor (Kanoor) at a cost of about. Rs 200 crore. The balance 111 km stretch in Malappuram, Kannur and Kasargod districts will be awarded by July 2017.

 

Construction works from both the ends of the Kochi – Koottanad – Mangaluru pipeline i.e., in the 91 km Kochi – Koottanad Section as well as in the 105 Km Perole (Kasargod) – Mangaluru Section are already in full swing. With the award of contracts over 75 per cent of the Kochi – Koottanad – Mangaluru pipeline will be in the construction phase.

 

GAIL has been able to make substantial progress in acquisition of Right of User due to the continued support of the State Government, Administration, Police and the public at large. The Kochi – Koottanad – Mangaluru Pipeline is likely to give a major economic boost to the state of Kerala by way of environmentally benign industrial development.

 

GAIL is targeting to complete the entire Kochi – Koottanad – Mangaluru Pipeline by December 2018.

IndianOil increases petrol, diesel prices


Thesynergyonline Corporate Bureau


NEW DELHI, APRIL 30 : Indian Oil Corporation Ltd (IndianOil) . has decided to effect the following price changes from midnight of April 30 / May 1, 2017


• Increase in Selling Price of Petrol by Rs. 0.01/litre (excluding State levies)
• Increase in Selling Price of Diesel by Rs. 0.44/litre (excluding State levies)


The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant increase in selling price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision.


The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.


In addition to this, daily revision of prices of Petrol and Diesel is being implemented on pilot basis, in the cities of Chandigarh, Jamshedpur, Puducherry District, Udaipur and Vizag w.e.f 1st May 2017.

Petrol and diesel in Chandigarh, Jamshedpur, Puducherry District, Udaipur and Vizag

from May 01, 2017


ONGC makes 23 new discoveries in FY'17,
35% jump in number of discoveries y-o-y


Thesynergyonline Corporate Bureau

NEW DELHI, APRIL 30: ONGC made 23 new discoveries in FY'17, a 35 per cent jump in number of discoveries year-on-year, from 17 discoveries made last year.


Of the 23 new discoveries, 12 are new prospects (a prospect is considered to be a new area having hydrocarbon accumulation, covering a minimum viable size of subsurface area) while 11 are new pools (a pool is a hydrocarbon accumulation in a known area in a new horizon). 13 new discoveries were made in onland (Nominaton-12, NELP-1) and 10 in offshore wells. (Nomination-7, NELP- 3)

A total of 100 exploratory wells were drilled which is higher by 9% as compared to 92 wells drilled in the previous year 2015-16. Of these, 37 wells proved hydrocarbon bearing registering success ratio of 37 per cent

"He will unfailingly be pleased with our patience and take note of our diligence and perseverance." ? Francis de Sales

96 out of 100 students under GAIL Utkarsh
CSR initiative cleared IIT JEE


Thesynergyonline Corporate Bureau


DIALOGUE : "Gardens are not made by singing 'Oh, how beautiful!' and sitting in the shade." - Rudyard Kipling, Complete Verse
"It is hard work to control the workings of inclination and turn the bent of nature; but that it may be done, I know from experience. God has given us, in a measure, the power to make our own fate: and when our energies seem to demand a sustenance they cannot get--when our will strains after a path we may not follow--we need neither starve from inanition, not stand still in despair: we have but to seek another nourishment for the mind, as strong as the forbidden fruit it longed to taste--and perhaps purer; and to hew out for the adventurous foot a road as direct and broad as the one Fortune has blocked up against us, if rougher than it." - Charlotte Brontë, Jane Eyre
"I mean a man whose hopes and aims may sometimes lie (as most men's sometimes do, I dare say) above the ordinary level, but to whom the ordinary level will be high enough after all if it should prove to be a way of usefulness and good service leading to no other. All generous spirits are ambitious, I suppose, but the ambition that calmly trusts itself to such a road, instead of spasmodically trying to fly over it, is of the kind I care for." - Charles Dickens, Bleak House
 

NEW DELHI, APRIL 30 : The gospel of the kingdom talks about diligence."
― Sunday Adelaja

So ninetysix out of 100 students under GAIL Utkarsh CSR initiative cleared IIT JEE this year. Mr B C Tripathi, CMD, GAIL & Mr P K Gupta, Director (HR) congratulated the students on their achievement.


Under GAIL's Utkarsh Super 100, traning is offered free of cost to ensure that poor, meritorious students, selected through a diligent process of written test and interview. The scheme was launched in 2009. GAIL's Utkarsh Super 100 has a success rate of over 87 per cent and is delivering good results year after year and intends to continue nurturing talent from the weaker sections of the society.


GAIL UTKARSH SUPER 100 is a residential program that spans over 11 months and aims at coaching the meritorious students from unprivileged sections of the society. The selected students are provided with FREE FOOD, ACCOMMODATION AND COACHING for the period of eleven months starting from JULY to MAY. With this facility, the students get an environment where they are free of any tensions and worries which could cause them distraction. Apart from imparting the knowledge of Physics, Chemistry and Mathematics through highly qualified faculty, often from IIT background, we make our students understand and adopt the art of peer learning. This is what gives them an edge over the lakhs of aspirants preparing for IIT-JEE all over India. The students help each other in understanding what they are best at. This develops in them a wider perspective and an ability to think as nothing seems impossible or difficult. Together they aim for the same goal of making it to IIT.

GAIL India has provided scholarship to all the students who have secured seats in the engineering colleges through the "GAIL Charitable & Educational Trust". Students received Rs. 24000/- annually to help them meet their academics fees etc.

"Experience is not worth the getting. It's not a thing that happens pleasantly to a passive you--it's a wall that an active you runs up against."
― F. Scott Fitzgerald, The Beautiful and Damned

Rajeev Kushwah takes
charge as CVO, MRPL


Thesynergyonline Corporate Bureau


MANGALURU, APRIL 17 :
"In the business people with expertise, experience and evidence will make more profitable decisions than people with instinct, intuition and imagination."

Rajeev Kushwah, ITS, having 18 years of rich experience in telecom sector, has taken charge as the Chief Vigilance Officer (CVO) of Mangalore Refinery and Petrochemicals Limited (MRPL) recently

"Professionals never guess—they make it their business to know their business."
― Michelle Moore, Selling Simplified

He is an ITS officer of 1997 batch. He is an Electrical Engineering graduate with post graduation in Industrial Engineering from NITIE, Mumbai.

He is having 18 years of rich experience in telecom sector. He played a vital role in planning of transmission network for western India for the roll out of Broadband and Mobile services. In 2006, he was awarded with "Sanchar Seva Padak".

In his previous assignment, he was working as Director (Telecom Enforcement, Resources &Monitoring) with Department of Telecom. He played a crucial role in curbing illegal activitiesin Telecom sector, and to control clandestine operation of telecom networks. He was instrumental in planning, installation and commissioning of Centralized Monitoring System at Ahmedabad, for entire Gujarat License service area.

"Strange, strange are the dynamics of oil and the ways of oilmen." - Thomas Pynchon, Gravity's Rainbow
"The ribboned gallons that rule us like beliefs rooted in single experiences." - Cameron Conaway, Bonemeal
"There is earth below your earth, a deep room where gas and oil, rock and stone, circulate like slow blood through a body." - Mathew Henderson, The Lease
"If it's not one god it's another. Allah or oil. Jesus or Jewels. Lenin or lust." - Victor Robert Lee, Performance Anomalies

IndianOil revises upward diesel andpetrol prices

Increase in selling price of petrol by Rs 1.39/litre (excluding State levies)
Increase in selling price of diesel by Rs 1.04/litre (excluding State levies)
 

 

Thesynergyonline Corporate Bureau


NEW DELHI, APRIL 15 :
Indian Oil Corporation Ltd IndianOil) . has decided to effect the following price changes from midnight of April 15 / 16, 2017 :

• Increase in selling price of petrol by Rs. 1.39/litre (excluding State levies)
• Increase in selling price of diesel by Rs. 1.04/litre (excluding State levies)


The current level of international product prices of peetrol and diesel and INR-US$ exchange rate warrants increase in selling price of Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision.

The movement of prices in the international oil market and INR-US$ exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.


Also, IOCL intends to shortly start daily changes in price of Petrol and Diesel based on movement of prices in international market, on pilot basis, in the cities of Udaipur, Jamshedpur, Pondicherry,Chandigarh and Vizag

"Strange, strange are the dynamics of oil and the ways of oilmen." - Thomas Pynchon, Gravity's Rainbow
"The ribboned gallons that rule us like beliefs rooted in single experiences." - Cameron Conaway, Bonemeal
"There is earth below your earth, a deep room where gas and oil, rock and stone, circulate like slow blood through a body." - Mathew Henderson, The Lease
"If it's not one god it's another. Allah or oil. Jesus or Jewels. Lenin or lust." - Victor Robert Lee, Performance Anomalies
"There is earth below your earth, a deep room where gas and oil, rock and stone, circulate like slow blood through a body." - Mathew Henderson, The Lease

"Cultivation of mind should be the ultimate aim of human existence." -B R Ambedkar

MRPL celebrates Ambedkar Jayanti

Thesynergyonline Corporate Bureau
Mr H Kumar, Managing Director, MRPL unveiling a bust of Babasaheb Ambedkar in the Administration building 


Lost rights are never regained...
"Lost rights are never regained by appeals to the conscience of the usurpers, but by relentless struggle.... Goats are used for sacrificial offerings and not lions." - B.R. Ambedkar, Writings And Speeches: A Ready Reference Manual
Dogma of Mill
"Every man who repeats the dogma of Mill that one country is no fit to rule another country must admit that one class is not fit to rule another class."
"We must stand on our own feet ..."
. "We must stand on our own feet and fight as best as we can for our rights. So carry on your agitation and organize your forces. Power and prestige will come to you through struggle"
Progress of community
"I measure the progress of a community by the degree of progress which women have achieved."
Men are mortal
"Men are mortal. So are ideas. An idea needs propagation as much as a plant needs watering. Otherwise both will wither and die."
Cultivation of mind
"Cultivation of mind should be the ultimate aim of human existence".
History shows...
"History shows that where ethics and economics come in conflict, victory is always with economics. Vested interests have never been known to have willingly divested themselves unless there was sufficient force to compel them. - B.R. Ambedkar
Conviction of justice
For a successful revolution it is not enough that there is discontent. What is required is a profound and thorough conviction of the justice, necessity and importance of political and social rights. – B.R. Ambedkar
 
MANGALURU , APRIL 15 : Mangalore Refinery and Petrochemicals Limited (MRPL) celebrated 126th birth anniversary of Dr Bhimrao Ramji Ambedkar on April 14 , 2017. On the occasion Mr H Kumar, Managing Director of MRPL unveiled a bust of Babasaheb Ambedkar in the Administration building at MRPL.


Speaking on the occasion he paid glowing tributes to the visionary leader. Coming from humble beginnings he rose to the highest levels in India with his hard work. He was the architect of our Constitution which is considered to be the best constitution in the world, he said. He is rightly referred to as the Father of Indian constitution and conferred the highest civilian award of Bharata Ratna, he added.


Later in the evening, Ambedkar Jayanti was celebrated in MRPL Employees Club. Shri M Venkatesh, Director(Refinery), Shri A K Sahoo, Director(Finance), Shri B H V Prasad, GGM(HR), Senior officers of MRPL, Office bearers of MRPL SC/ST Employees Welfare Association, employees and their family members were present on the occasion.


Dr Rajmohan B, Associate Professor, Dept. Of Chemical Engineering, NITK Surathkal was the chief guest. He spoke on the life and achievements of Dr B R Ambedkar and said that because of his efforts today weaker sections of our society are getting an opportunity to come up in life.


He elaborated the various government schemes available for progress of the weaker sections of society.

Mr A K Sahoo, Director (Finance) spoke on the occasion and said that even though many great many and women are born, we celebrate the birthday of very few, and Bharata Ratna Babasaheb Ambedkar is one such great personality he said.


Mr M Venkatesh, Director(Refinery) spoke and acknowledged the great contribution made by Shri Ambedkar for the upliftment of the oppressed classes.

He said MRPL is proud to have given equal opportunity to all sections of the society and the team work being displayed in MRPL with the contribution from all in achieving our goals. Later cultural programs were held on the occasion.

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"Great men are not born great, they grow great . . ."

IndianOil Chairman bags SCOPE
Special Commendation Award

Thesynergyonline Corporate Bureau

NEW DELHI, APRIL 11 : "COMMENDATION, n. The tribute that we pay to achievements that resembles, but do not equal, our own." - Ambrose Bierce

 

Mr B Ashok, Chairman, IndianOil, has been conferred the SCOPE Special Commendation Award for Excellence and Outstanding Contribution to Public Sector Management - Individual Leadership Category 1 (Maharatna & Navratna PSEs) 2014-15. The award was presented by President of India, Mr Pranab Mukherjee, at the Public Sector Day event hosted by SCOPE at Vigyan Bhavan in New Delhi on Tuesday.


Others present on the occasion were Mr. Anant Geete, Union Minister of Heavy Industries and Public Enterprises; Mr Babul Supriyo, Union Minister of State for Heavy Industries and Public Enterprises; Mr. UD Choubey, Director General of Standing Conference of Public Enterprises (SCOPE); and other noticeables.

 

 

  • Awards and ceremonies are all an applause centred around excellence

    "My meaning simply is, that whatever I have tried to do in life, I have tried with all my heart to do well; that whatever I have devoted myself to, I have devoted myself to completely; that in great aims and in small, I have always been thoroughly in earnest." - Charles Dickens, David Copperfield

  • Applause

    "The applause was so loud and insistent that I had to respond with several encores. I was numb with happiness, when it was over, I knew that this alone must be my life and my world." - Leni Riefenstahl

  • "Recognition"

    "The spaces between the perceiver and the thing perceived can [...] be closed with a shout of recognition." - Timothy Findley, The Wars

  • When an avalanche of applause follows !

    "You are blessed not because you work hard, but you are blessed because you do things right and treat other people right." - De philosopher DJ Kyos

  • Momentous moment

    "Few moments are so special that they should be recognized by special expressions."

 

The SCOPE awards have been instituted to recognise the contribution of Public Enterprises and outstanding PSU professionals for their seminal work and leadership qualities.


With over three-and-a-half decades of experience in the oil and gas industry, Mr Ashok, has been heading Indian Oil Corporation since July 2014. Under his leadership, IndianOil has shaped up as a more responsive, nimble and forward-looking business enterprise – by leveraging technology across business units, countrywide infrastructure and retailing network which caters to millions of customers each day.


Mr. Ashok is concurrently the Chairman of refining subsidiary Chennai Petroleum Corporation Ltd. and IOT Infrastructure & Energy Services Ltd., IndianOil's joint venture with Oiltanking GmbH of Germany. He is also the Vice-President of the Paris-based World LPG Association, the authoritative voice of the global LPG industry representing the full LPG value chain.

ONGC CMD Dinesh K Sarraf nominated
to governing body of CSIR

Thesynergyonline Corporate Bureau


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  • Mr. D K Sarraf, is the driving force of extraordinary growth of company and strategic approach to oil and gas exploration and production.
  • He has experience of over three and half decades in the oil and gas industry, having started his oil and gas career in Oil India .
  • He joined ONGC in 1991 and handled various key assignments at corporate offices. He was elevated to the post of Director (Finance) in ONGC Videsh in 2005 where he served till 2007/li>
  • In 2011, Mr. Sarraf went back to ONGC Videsh assuming the charge of Managing Director. As MD he transformed ONGC Videsh into an aggressive growth engine for ONGC Group by clinching many high value deals within a short span of time.
  • OPINIONATIVELY :
  • "Personality is an unbroken series of successful gestures." - F. Scott Fitzgerald, The Great Gatsby
 

NEW DELHI, APRIL 10 : The Prime Minister of India, in his capacity as ex-officio President of CSIR, has nominated ONGC Chairman and Managing Director Dinesh K Sarraf as member of the prestigious governing body of Council of Scientific and Industrial Research (CSIR).


Mr Sarraf has been nominated to the governing body of CSIR for a period of three years.

The governing body is the apex body of CSIR for all decision making processes.


CSIR is a leading scientific R&D organization set up with a mandate to promote guide and coordinate scientific and industrial research in the country with its 38 R&D laboratories and Institutes. Eminent and learned personalities from various fields are nominated to the governing body as members.


He has experience of over three and half decades in the oil and gas industry, having started his oil and gas career in Oil India Ltd. He joined ONGC in 1991 and handled various key assignments at corporate offices. He was elevated to the post of Director (Finance) in ONGC Videsh in 2005 where he served till 2007. During this period, ONGC Videsh made significant acquisitions in Syria, Brazil, Colombia, Venezuela, Cuba, Egypt and Myanmar. In December 2007, he joined back ONGC as Director (Finance).

 

In 2011 Mr Sarraf went back to ONGC Videsh assuming the charge of Managing Director. As MD he transformed ONGC Videsh into an aggressive growth engine for ONGC Group by clinching many high value deals within a short span of time. He was instrumental in several oil and gas acquisitions in Mozambique, Brazil and Azerbaijan by ONGC Videsh to ensure energy security for the country. In March, 2014, he joined back ONGC as its Chairman & Managing Director. As CMD, ONGC he has been focussing primarily on augmentation of production of Oil and Gas from domestic assets.

Mr D K Sarraf, is the driving force of extraordinary growth of company and strategic approach to oil and gas exploration and production. In the present environment when global oil and gas prices have plummeted, ONGC under his leadership is strongly emphasising on adoption of the best operational & cost practices and appropriate oil and gas technologies, for realisation of greater operational efficiencies. Under his leadership ONGC has made the biggest ever financial decision in its history, unveiling an investment of more than $5 Billion in the east coast oil and gas asset to enhance oil and gas production significantly.

 

Gajendra Singh takes charge as
Director (Marketing), GAIL

Thesynergyonline Corporate Bureau

An awesome picture

For me the diamond dawns are set In rings of beauty, And all my ways are dewy wet With pleasant duty. -John Townsend Trowbridge

"Our duty is to be useful, not according to our desires but according to our powers." - Henri-Frederic Amiel

 

NEW DELHI, APRIL 06 :
Mr Gajendra Singh has taken charge as Director (Marketing) of GAIL (India). He started his career in processing and interpreting of seismic data in upstream Industry, and possesses 32 years of illustrious career in hydrocarbon sector.

 

Mr Singh has been involved in the execution of several prestigious projects of GAIL starting from the HVJ and has held various leadership and strategic positions.

 

Some of these key roles where he has served as the Head of Department include General Manager (Gas Sourcing and Gas Marketing), Executive Director (Operations & Maintenance).


Prior to his appointment as Director (Marketing) Mr Gajendra Singh served as Executive Director (Marketing). He has been responsible to fulfil GAIL's vision to source and market natural gas from international and domestic sources; to facilitate capacity utilization of pipeline infrastructure, investment in new pipelines etc.

 

He has been managing company`s top line and bottom line through various Zonal offices located across India. He joined GAIL in Year 1986, having worked in ONGC in 1985.


IndianOil inks POL supply agreement
with Nepal Oil Corporation


Thesynergyonline Corporate Bureau

Mr P K Das, ED I/C (Supplies), IndianOil, and Mr Gopal Bahadur Khadka, Managing Director, NOC, exchanging documents post signing MoU in New Delhi in the presence of Mr Dharmendra Pradhan, MoS (I/c), Ministry of Petroleum and Natural Gas, GoI and Mr Deepak Bohara, Minister for Supplies, Government of Nepal, along with senior officials from MoP&NG India, Ministry of Supplies of Nepal, IndianOil and NOC.

Features of agreement:

• Release of BS-IV grade fuels to Nepal from IndianOil supply points with effect from 1st April 2017 to convert Nepal markets to the green fuel.

• Meeting the major requirements of POL products of Nepal by pipeline after the laying of the Patna-Motihari-Amlekhganj Pipeline. This pipeline will have the flexibility to receive products from IndianOil's Barauni & Haldia refineries.

• NOC may nominate, with prior written advice to IndianOil, any other supply point to uplift POL products.

 

 

NEW DELHI, MARCH 27 : A Memorandum of Understanding (MoU) for the supply of petroleum, oils, and lubricants (POL) products was signed here on Monday between Indian Oil Corporation Limited (IndianOil) and Nepal Oil Corporation (NOC) in the presence of Mr. Dharmendra Pradhan, Minister of State (Independent Change), Ministry of Petroleum and Natural Gas , the , Government of India, and Mr. Deepak Bohara, Minister for Supplies, the Government of Nepal, along with senior officials from MoP&NG, India; Ministry of Supplies of Nepal; IndianOil and NOC. 

 

The new supply agreement was inked by Mr. PK Das, Executive Director I/C (Supplies), IndianOil, and Mr. Gopal Bahadur Khadka, Managing Director, NOC.

Curiously, the supply of POL and LPG products from IndianOil to Nepal Oil Corp. started in 1974 when the first supply agreement was signed.

 

The agreement was renewed periodically. The supply agreement signed is for the period April 2017 - March 2022 and will meet NOC's full requirements of all the major POL products, including petrol, diesel, kerosene, aviation turbine fuel & LPG.

 

The new agreement is based on the concept of "Umbrella Agreement" by keeping the provisions of future MoUs / Agreements subsidiary to this.

 

A provision has been kept for collaboration in new fields like Engineering, Projects, Aviation Fuelling, Retail Sales, Petrochemicals, Business Developments & LPG ventures.

Dharmendra Pradhan launches CGD project implementation in Bhubaneswar and Cuttack

Thesynergyonline Corporate Bureau

An awesome picture

At this point of time it's a new era

This is the cusp of an age at least as exciting and as brimful of potential as the early days of the printing press.

 

BHUBNESHWAR, MARCH 18 :
We are at the dawn of a new era, the era of 'an economic development and convenience, ' as we like to call it, in Odisha fuelled by environment -friendly natural gas, Minister of State (Independent Charge) for Petroleum & Natural Gas Mr Dharmendra Pradhan on Saturday launched the implementation of City Gas Distribution (CGD) project in Bhubaneswar and Cuttack in the presence of Member of Parliament (Bhubaneswar) Dr Prasanna Kumar Patasani, Member of Parliament (Cuttack) Mr Bhartruhari Mahtab and other noticeables.


The event marked an important step towards the fulfilment of Prime Minister Mr Narendra Modi's dream of developing a gas-based economy and linking Eastern India to the country's Natural Gas Grid through the Jagdishpur – Haldia & Bokaro – Dhamra Natural Gas Pipeline (JHBDPL).

 

The pipeline, popularly known as 'Pradhan Mantri Urja Ganga', will pass through five states, i.e. Uttar Pradesh, Bihar, Jharkhand, Odisha and West Bengal and the longest stretch – 762 kms – will be built in Odisha.

Mr Dharmendra Pradhan also inaugurated the Odisha office of GAIL (India) which is implementing the pipeline as well as the CGD project.

The Bhubaneshwar CGD project will be built with a capital expenditure of around Rs 1,000 crore. It will benefit around 25 lakh people in Khordha district and around 2.5 lakh households will be supplied with environment friendly, safe and economic piped natural gas (PNG). Moreover, 24 CNG stations will be commissioned in the first three to five years to supply compressed natural gas (CNG) fuel to around 1 lakh vehicles.

Similarly, in Cuttack CGD project, the capital expenditure will be around Rs 750 crore. Around 26 lakh people will be benefitted by this project while 2.5 lakh households will get PNG connections. In addition, CNG will be available to 50,000 vehicles through 20 CNG stations which will be set up in next three to five years.

Natural Gas will also be available to industries and commercial establishments, creating a gas based industrial hub. Almost 2,000 km of steel and MDPE pipelines will be laid for these two CGD networks. It is also expected that the arrival of the Pradhan Mantri Urja Ganga will provide direct and indirect employment to thousands of people.

The 2,619 km JHBDPL project is being executed at an investment of Rs 12,940 crores, which includes 40 per cent capital grant (i.e. Rs 5,176 crores) from the Government of India. It will pass through Uttar Pradesh (342 km), Bihar (441 km), Jharkhand (524 km), West Bengal (550 km) and Odisha (762 km). Natural Gas will be supplied to Fertilizer Sector, Power Sector, Refineries, Steel, CGD and other sectors through this pipeline.

With the assured Gas supply, Fertilizer Plants at Gorakhpur (Uttar Pradesh), Barauni (Bihar) and Sindri (Jharkhand) have been approved for revival along the route of this pipeline. Further, this pipeline will also meet the gas requirements of Matix Fertilizer Plant at Durgapur (West Bengal). Continued full production from these four major Fertilizer Plants will ensure timely availability of adequate fertilizers in the eastern states which will go a long way in flourishing of agricultural sector.

GAIL has also been entrusted with developing CGD network in seven cities enroute the pipeline, i.e., Bhubaneswar, Cuttack, Varanasi, Patna, Jamshedpur, Kolkata and Ranchi.
In Odisha, the pipeline will be constructed at an estimated investment of Rs 4,000 crores and have a length of about 762 km covering 13 districts, i.e., Bhadrak, Jajpur, Dhenkanal, Angul, Sundergarh, Sambalpur, Jharsuguda, Debagarh, Jagatsinghpur, Cuttack, Khordha, Puri and Kendrapara.

 

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PM dedicates OPaL plant to nation

Thesynergyonline Corporate Bureau

• Set up with an investment of Rs.30,000 crore

• Production capacity of 14 lakh tons of polymers and 5 lakh tons of chemicals per annum

• To generate further investment of Rs 40,000 crore and employment to 20,000 people in downstream

DAJEJ (Gujarat), MARCH 07 : Prime Minister Narendra Modi ON Tuesday dedicated ONGC Petro additions Ltd (OPaL) plant to the nation at a function in Bharuch.


Prime Minister also visited OPaL and addressed an “Industry Meet”. He had a detailed presentation on OPaL. 


The plant was dedicated to the nation by the Prime Minister in the presence of Gujarat Chief Minister Vijay Rupani, Union Minister for Road Transport and Highways Nitin Gadkari, Minister of State for Chemicals and Fertilizers Mansukh L. Mandaviya, along with a host of other noticeables.


OPaL is a joint venture company promoted by ONGC, GAIL and GSPC, implementing a grass root integrated petrochemical complex located in Special Economic Zone (SEZ) under Petroleum, Chemical and Petrochemical Investment Region (PCPIR) at Dahej, Gujarat. The company was incorporated on 15th November, 2006.


 This is the single largest petrochemical plant in India and at full capacity, will annually produce 14 lakh metric tonnes of polymers viz. Linear Low Density / High Density Polyethylene, Polypropylene and 5 lakh Metric Tonnes of Chemicals like Benzene, Butadiene, and Pyrolysis Gasoline etc. The Product Warehouse is one of the largest in India with an area of 1,28,250 square metres.


 OPaL would use ONGC’s captive feed of C2+ streams (i.e. Ethane, Propane and Butane) from C2-C3 Extraction plant, and Naphtha from Hazira & Uran to produce Polyethylene and Polypropylene.


Set up with an investment of Rs 30,000 crore the plant is strategically located in the petrochemicals and chemical hub of the country with excellent connectivity, creating an integrated ecosystem. It will generate direct employment for 3,500 personnel and indirect employment for around 10,500 people.


 The project will further result in the growth of new downstream plastic processing industries in the country, generating further investment of Rs 40,000 Crore and over 20,000 indirect employment opportunities, giving major thrust to government’s Make in India programme. The increased use of polymers will also reduce burden on traditional materials like wood, paper, metal and will help in conserving natural resources like water and energy and promote food safety & food conservation.


OPaL’s projected market share in the polymer sector will be 13 per cent by 2018. The company would also contribute in encouraging polymer consumption in the country & its products will be used for important sectors like Infrastructure, housing, packaging, irrigation, automotive, healthcare etc. OPaL’s production of polymer will help India towards self-sufficiency.


The average per capita consumption of Polymers in India is 10kg, compared to a world average of 32 kg. There is tremendous potential for growth of the sector catalysed by growth drivers such as increasing middle class, higher disposable income and urbanization.


The petrochemical sector in India has witnessed a robust growth of 10-12 per cent per annum in the last decade and is expected to grow at a rate of 12-15 per cent in the next decade.

 

 

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