Maha mulls Formula 1 racing track along Mumbai-Pune expressway
Wednesday, 11 August 2010
12 August 2010;business-standard.com:Sanjay Jog:Mumbai: The Maharashtra government is planning to build a motor racing circuit capable of hosting Formula One races. State-run Mumbai Metropolitan Region Development Authority (MMRDA) – an agency responsible for planning and implementing development projects – is working on the proposed track on 700 acres along the Mumbai-Pune expressway. The racing track could be developed with private partnership if all goes well. A state government official, who did not want to be quoted, told Business Standard that the project was at the discussion level. “MMRDA plans to first hold a meeting with interested parties on August 17 to take the idea forward. The proposed site along the 93-km Mumbai-Pune expressway is ideal. However, the final site will be decided on after taking into account suggestions from those interested in investing in the project.” The official said the agency would soon engage a consultant to develop the project. “The consultants will suggest whether or not the project is feasible. We have also got to discuss how the project should be structured if the private sector is involved. The cost of the project will be announced once the consultants submit their report.” If the Maharashtra government decides to set up the motor racing track, this would be the second such facility in the country following the Uttar Pradesh government’s decision to construct a racing track near Greater Noida. In October 2007, the Fidiration Internationale de l’Automobile had signed a Rs 1,600 crore contract with JPSK Sports Private Limited to organise an F1 race in India. It is expected to be completed by April 2011. The track will have a length of 5.5 km and an area of 4,000 hectares. Seating capacity is expected to be 200,000.
12 August 2010;hindustantimes.com:Anupama Airy: Even as Mumbai fights the after-effects of an oil slick from two ships colliding, HT has learnt a greater threat to the city’s coast was avoided in the nick of time — twice. A sub-sea gas pipeline, owned and run by British Gas, has repeatedly leaked. The latest leakage happened on July 20 this year. The last leak occurred almost exactly a year ago. Both times, the leakage was spotted and stopped. Aware of the disastrous consequences of the recent oil spill in the US, Indian authorities are not taking any chances and have pulled up British Gas. The multinational operates the Panna-Mukta oil and gas fields. The economic loss is already hurting — the latest oil spill has cost British Gas, along with Reliance Industries and ONGC, the other developers, an estimated Rs 600 crore. Oil Industry Safety Directorate (OISD) — a government body responsible for laying down safety and security norms for oil and gas installations in the country — has sought an explanation, asking British Gas to take strict measures to prevent such leakages in future. “We have reviewed the first incident report and find that strict preventive measures need to be at place to avoid recurrence of such incidents,” a July 30 OISD letter to British Gas India’s Exploration Head Peter Thompson said. “Investigations are on to find what went wrong,” a senior British Gas official said. “The rough seas have delayed fixing the problem.” A senior ONGC official pegged the loss at Rs 18-20 crore per day and said a fault in the hose assembly of the sub-sea pipeline carrying oil from the Panna-Mukta fields had resulted in the oil spill.
11 August 2010;economictimes.indiatimes.com:NEW DELHI: Reliance Industries plans to reopen all of its fuel stations in the country and is currently selling petrol and diesel at the same rates as state firms, a company statement said on Wednesday. Reliance, which operates the world's biggest refining complex at Jamnagar in Gujarat, shut down its petrol pumps in 2008 as crude prices surged towards $150 a barrel. At the time the Indian government subsidised fuel sales by state firms, knocking private retailers out of the market. "If the government announces diesel deregulation then diesel, like petrol, will also be available at market rates. Further to this Reliance will resume operations across all pumps, pan India," the Reliance statement said. Retail sale of petrol and diesel are again viable since the end of June when the government lifted all controls on petrol and raised administered prices of other fuels including diesel. Reliance owns more than 1,400 fuel stations in India. The government plans to free diesel prices also, but the deputy chairman of the Planning Commission said in an interview the government would set diesel rates for the next few months. Essar Oil, the only other private refiner in India, and Reliance had together captured about 17 per cent of domestic retail market for diesel and accounted for 10 per cent of petrol sales by 2005 before they were forced to shut down their pumps. "Now, with the deregulation of petrol, there is a level playing field and Reliance petrol will now be sold at the same price as that of the other oil companies," the statement said.
11 August 2010;hindustantimes.com:Petroleum Minister Murli Deora today dismissed reports of diminishing oil stocks in Mumbai due to non-operation of ports after the oil spill off the coast of the metropolis. "There is no problem at all anywhere. There is enough (oil stock) to last till this oil spill is cleared," Deora told reporters outside Parliament reacting to reports of probelms in oil supplies. Deora said his ministry officials told him today that there were "no fears" of disruption in oil supplies. "There is enough stock and all refineries are fully prepared to meet the situation," he added. The Mumbai port and the Jawaharlal Nehru Port Trust are closed to cargo traffic after the oil spill off the coast due the sinking of MSV Chitra.
ONGC firms up Rajasthan refinery plans as state promises fiscal sops
Tuesday, 10 August 2010
11 August 2010;economictimes.indiatimes.com:Rajeev Jayaswal:NEW DELHI: A consortium led by the state-owned Oil & Natural gas Corporation could invest about Rs 12,000 crore to built a six million tonne refinery in Rajasthan, as the Congress government in the state is willing to provide adequate fiscal incentives to the refinery. The refinery will initially process crude from the Cairn India-operated Barmer oil field in the state, which is at presented processed outside the state by various refineries. Cairn India and ONGC are 70:30 partners in the field. “The project could be announced after its feasibility is finalised,” a senior official in the government said, adding that the Rajasthan government was ready to provide adequate benefits and the Centre is more than willing. The development was also confirmed by oil minister Murli Deora in the Rajya Sabha. “ONGC is in consultation with the government of Rajasthan on feasibility of setting up a refinery at Barmer,” he said. The previous BJP government in the state had refused to give concessions to ONGC for setting up the refinery as sops sought were more than double the project cost. After the BJP-led government in Rajasthan was replaced by the Congress regime, the project has gathered some urgency. Rajasthan government had even appointed a committee to explore the idea after Cairn and its 30% partner in the Barmer oil field Oil & Natural Gas Corp (ONGC) had shelved their plan to construct a well-head refinery. The former oil secretary headed SC Tripathi committee had certified feasibility of a small well-head refinery at the Barmer oil field. It had suggested to initially set-up a 4.5 to 6 million tonne refinery and later expand it to 9-12 MT. This is endorsed by the technical experts as well. “Preliminary studies suggests that a 6 million tonne refinery is feasible with adequate state concessions. But final decision will be taken the feasibility report,” a technical expert working on the project said. The feasibility report, expected in the next two months, will provide details of the fiscal incentives that could make the project viable. The incentives could include sales tax exemption and land grant, he added. State-owned Engineers India Ltd (EIL) is preparing the feasibility report. “There will not be any dearth of investors after its feasibility is established. ONGC will play a lead role. Even EIL may pick up a 5% stake,” an official in the oil ministry said. The Rajasthan government has already committed to become 26% partner in the refinery project. As per the ministry officials, besides state-owned refiners such as IOC, BPCL and HPCL, Barmer crude oil producer Cairn India could also invest in the project. ONGC did not respond to ET’s email query. Cairn India spokesman said, “We offer no comments on this.” ONGC had always maintained that the refinery project was the first option but project was not viable without concessions worth over Rs 26,000 crore.
11 August 2010;business-standard.com:Mumbai/New Delhi: Jawaharlal Nehru Port Trust and Mumbai Port Trust – two of India’s major ports accounting for about 40 per cent of exports – are expected to resume operations by Sunday. Traffic at the two ports was stalled due to an oil spill off the Mumbai coast on August 7 following a collision of two ships. The Coast Guard and other government agencies were working on limiting the damage caused by the spill in Arabian Sea. In a meeting convened by Maharashtra Chief Minister Ashok Chavan, port officials assured that the navigation channel would be cleared for traffic by this weekend. The government will also carry out an environment impact assessment through National Environmental Engineering Research Institute and Goa-based National Institute of Oceanography. The MSC Chitra, a container ship operated by Mediterranean Shipping Co, shed about 325 containers in the sea after colliding with another vessel, the M V Khalijia. While the M V Khalijia has been berthed, the MSC Chitra is now listing after being deliberately beached. The ship had 1,219 containers on board, of which 31 held hazardous chemicals and pesticides. After the collision, about 200 litres of hydraulic oil leaked out from the MSC Chitra. The 24 crew members were evacuated, using tugs. Salvagers from Smit Internationale NV are working to stabilise the ship and working on clearing the navigation channel. The vessel, built in 1980, has a capacity to carry 2,314 containers. “The salvager is trying to stabilise the ship and pump out the remaining oil estimated to be about 2,000 tons,” said the director general of shipping in a statement issued late this evening. “This operation would take five to six days, given the need to keep the ship stable and provide it with Ballast water in an effort to slowly correct her listing, which is currently stable at 75 degrees.” “The fuel leak from the MSC Chitra has now stopped,” said a Coast Guard official. The agency used chemicals to disperse oil spilled from the ship. The closure of the two ports has disrupted oil delivery to a local refinery and delayed shipments of grain and other exports. According to the government, 32 ships have been stranded in the ports or were awaiting docking. Bharat Petroleum Corp, a state-run refiner, said three ships carrying 1.5 million barrels of crude supplies for its 138,000 barrel-per-day refinery in Mumbai haven’t been able to unload due to closure of the port. The refinery will instead use crude from a pipeline and from inventories. Salavaging ship to take 45 days: Jairam Minister for Environment and Forests Jairam Ramesh today said the ministry has drawn up a plan to clear the channel that leads to the Jawaharlal Nehru Port Trust (JNPT). He said the floating containers that had fallen from the MSC Chitra will be retrieved and transported to the JNPT before the ship is salvaged. This would be done by anchoring a barge at a suitable anchorage with floating cranes. Then tugs will tow the floating containers to the crane for placing them on the barge. Salvaging the ship will take about 45 days, Ramesh told the Lok Sabha. “Once the list of the vessel stabilises and is safe to board, the salvagers would board the vessel and remove the fuel from the various tanks into barges to eliminate the threat of pollution,” said Ramesh.
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