Business Daily from THE HINDU group of publications
Friday, Aug 11, 2006
Business Daily from THE HINDU group of publications Friday, Aug 11, 2006 |
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Corporate
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Announcements Industry & Economy - Natural Calamities
Our Bureau
New Delhi , Aug. 10 Hit by floods in Gujarat, Oil and Natural Gas Corporation has decided to defer its contractual commitment on naphtha delivery from Hazira. Industry sources told Business Line that the company has declared force majeure on naphtha delivery from Hazira and the same would continue till the operations are back to normal. ONGC officials were not available for comment. Asked about the quantity, the sources said it could be substantial. They said that the force majeure has been declared on three cargoes originally scheduled to be loaded in August. The contractual commitments on these cargoes from Hazira will be governed under force majeure. According to earlier reports, one 35,000-tonne cargo originally scheduled for loading on August 15-16 from the west coast port of Hazira has been affected by the decision. The cargo was sold to Malaysia's Petronas. Besides the August 15-16 cargo, ONGC has sold a 35,000-tonne naphtha cargo to Vitol for loading on August 10-12 from Mumbai. ONGC has cancelled its two tenders, in which it offered a total of 70,000 tonnes for loading on August 26-27 and September 6-7 from Hazira. The Hazira gas processing plant receives around 40.5 million standard cubic meters per day (MMSCMD) of gas from ONGC's offshore Bassein field. It processes this to produce 1,650 tonnes of LPG, 3,350 tonnes of aromatic naphtha, 417 tonnes of superior kerosene oil and 48 tonnes of high-speed diesel. Out of this 40.5 MMSCMD of processed gas, a large chunk almost 40 MMSCMD of it is sent through the Hazira-Vijaipur-Jagdishpur pipeline of GAIL.
More Stories on : Announcements | Natural Calamities | Petroleum | Oil & Natural Gas Corporation Ltd
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