Page 17 - AsianOil Week 48 2020

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SOUTH ASIA Secretary, MoP&NG; Mr. Shrikant Madhav in Q2, however gas prices continued to fall in
Vaidya, Chairman, Dr. SSV Ramakumar, Q3, from US$5.2/mmbtu in Q2 to US$4.6/
GAIL’s new Director Director (R&D); IndianOil, Mr. Gurmeet mmbtu in Q3, due to the contractual linkage
Singh, Director (Marketing), IndianOil, and
of some contract gas prices to prior quarter
(Business Development) other senior officials. oil price. In Q4, both oil and gas prices are
rebounding positively.
Complimenting IndianOil on this suave
starts market move, Mr. Dharmendra Pradhan, with extremely difficult trading conditions,
Net Income was a loss of US$130 million
Minister of Petroleum & Natural Gas and
Shri M V Iyer assumed charge as Director Steel, said, “With this fuel, India has joined the especially in Q2 where Net Income was a loss
(Business Development) of GAIL (India) league of select countries worldwide where of US$76 million. Net Income in Q3 was a
Limited today. Before this, he was working petrol with 100 or higher Octane number is US$34 million loss, following a dry hole in
as Executive Director (Projects) with the sold. Launch of world-class products such Mexican deep-water drilling, low gas prices
company. as XP100 prove that we are focussed on linked to Q2 oil price and continued low
An Electrical Engineer, Shri Iyer has 33 providing better energy solutions to all. The electricity demand in Medco Power. AMNT
years of rich and diverse experience in GAIL fact that these solutions are being deployed reported a Q3 profit of US$21 million, the
in projects execution amounting to Rs 40,000 with homegrown technology developed first quarterly profit since 2016 with first
crores, including current projects worth Rs by our scientists is a matter of pride. This production from phase 7 benefiting from
25,000 crores spanning 16 states, 150 districts is yet another step in the direction of the higher copper and gold prices.
and City Gas Distribution (CGD) projects in Atmanirbhar Bharat initiative which our Oil and gas production was 100 mboepd,
six cities. As a target-oriented professional, he Government is keenly implementing in within guidance, though gas demand
has consistently delivered results in Projects, energy sector, in line with our PM’s Energy continues to be significantly below normal pre
Operations and Maintenance roles. Vision.” Covid-19 pandemic levels.
GAIL, November 25, 2020 INDIANOIL, December 1, 2020 Unit cash costs were US$7.6 per boe,
within guidance, despite additional costs to
IndianOil launches XP100 SOUTHEAST ASIA maintain business continuity and employee
safety during the Covid-19 pandemic.
– India’s first 100 Octane MedcoEnergi announces at Kerisi, South Natuna Sea Block B PSC
A two well platform drilling program
petrol in July increased in oil production and gas
deliverability.
In a move that can be a potential game- 2020 nine-month results Four commercial exploration gas
changer in the petroleum fuel retail market Medco Energi Internasional Tbk1 announces discoveries were made in South Natuna
in India, IndianOil has launched world- its 2020 nine-month financial results (“9M Sea Block B PSC with the Bronang-2,
class premium grade Petrol (100 Octane) in 2020”). Kaci-2, West Belut-1 and Terubuk-5 wells.
the country today. Branded as XP100, the Oil prices were US$39.5/bbl, 37% below These discoveries will be fast tracked for
premium grade petrol was launched across ten 2019 (US$62.5/bbl) and gas prices were development in 2021-22 in parallel with the
cities by Mr. Dharmendra Pradhan, Minister US$5.1/mmbtu, 25% below 2019 (US$6.9/ previously planned Hiu development.
of Petroleum & Natural Gas and Steel, in mmbtu). Oil prices in Q3 recovered to MEDCO ENERGI INTERNASIONAL, November
the virtual presence of Mr. Tarun Kapoor, US$40.6/bbl, up 52% from the US$26.8/bbl 30, 2020

Petronas to deploy low
carbon solutions

Riding on the momentum of its Net Zero
Carbon Emissions 2050 declaration in
October, PETRONAS has joined forces
with the United Nations Global Compact
Network Malaysia & Brunei (UNGCMY&B)
at the recent GO ESG ASEAN Corporate
Sustainability Virtual Summit 2020 to position
sustainability at the core of business recovery
efforts in ASEAN.
Aptly themed “The Business of Recovering
Better – A Resilient & Sustainable ASEAN by
Design”, the Summit, which was held from
2 to 30 November 2020 drew both local and
regional online participants.
Speaking at the event, PETRONAS
Vice President of Group Health, Safety,
Security and Environment (HSSE) Dzafri
Sham Ahmad said that the summit was an
opportune occasion to support PETRONAS’

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