India Oil and Gas Market Update Nov, 2013

• Mining giant BHP Billiton plans to withdraw from nearly all of its oil and gas exploration projects in India, reportedly due to regulatory delays.
• Reliance Industries signs a joint study agreement with petroleos de Venezuela.
• Air Products wins Bharat Petroleum supply contract for hydrogen and other gases.
• Indian State Oil PSU’s IOC/HPCL/BPCL slashes base oil prices across the board in range of Rs 0.40 – 1.80/liter on basic price.
• India CFR prices of SN 500 price up by 3% in October 2013 as compared to previous month price.
• Indian State oil PSU’s IOC/HPCL/BPCL Group I & II Base Oil prices marked down effective Oct 1 as Rupee appreciates
• India aims to cut Iran oil imports by 15 percent.
• Indian sugar steady; mills under pressure to cut prices.
• Cairn (India) Ltd will ramp up its gross production from Indian hydrocarbon concessions to 225,000 barrels per day in the current fiscal year, the company’s commercial head has said here.