Forward:[issuesonline_worldwide] RIL & GSPC $500b Liability Already, Hoarding Gas Inflating Capitalization

------------------

Palashbiswas

 

 

------------------ Original Message ------------------

From: "Ravinder Singh"<progressindia008@yahoo.com>;

Date: Jun 18, 2011 08:01 PM

Subject: [issuesonline_worldwide] RIL & GSPC $500b Liability Already, Hoarding Gas Inflating Capitalization

 

RIL & GSPC $500b Liability Already, Hoarding Gas Inflating Capitalization
June18, 2011
 
Honorable Prime Minister, 
Dr. Manmohan Singh, 
New Delhi – 110011
 
Politics of CAG )-( Cartels Within Cartels 
 
Ø      205 Billion Barrel OE, $30,000 billion worth Oil & Gas Reserves.  
Ø      RIL 365 Million BOE $30b Worth Oil & Gas Produced in 12 Years, GSPC – 0.  
Ø      This is 0.1% Production in 12 Years. 
Ø      March11, Private Offshore Production ( - ) 21% Gas and ( - ) 10.2% Oil.  
 
Respected Sir, 
 
When we mate Swiss Cows producing 40 liters of milk a day with Pahari Indian Bulls their offspring may not give even 2 liters of milk a day. 
 
Similarly when India mate our millions of Brightest Engineers and Scientists with 'Chorwari Companies' we end up in disaster every where, India doesn't create a single world class invention but are trained to Cheat & Loot. RIL had poor integrity and history of frauds. Ex. Anil Ambani company was caught red handed drawing power illegally from MSEB transmission lines for Dhirubhai Knowledge Center through 220KV under ground cables. Case was hushed up. 
 
Ø      CAG didn't discover any loss to MSEB. 
 
Ø      CAG didn't object when since 1999 NEPL RIL was licensed to operate most Prime Near Shore Blocks all along Indian seacoast many hundred times RIL  resources and with no experience and integrity and above all had conflict of Interest in operating Refineries, Telecom, Power, Textiles and other quick return businesses. Though Huge Gas Reserves were discovered in Dec.2001 but Development of Oil & Gas wells began only after 2006 when Bechtel was appointed Main Contractor. 
 
Ø      CAG knew from internet P-52 and P-56 Petrobras Platforms of Brazil located may times farther, much deeper were contracted at $800m to $1.5b only – RIL Platform system shouldn't have cost $500m but was allowed to Capitalized $9.5b. 
 
Ø      CAG didn't object when in 1999 NEPL policy was announced but GAIL was not directed to lay 'Gas Pipelines Network' for distribution of Oil & Gas of all Private and PSU operators mainly to serve Energy Deficient states and it was only in 2007 RIL awarded contract to a Chinese company. 
 
Ø      CAG knew GSPC too discovered HUGE reserves in June2005 bigger than RIL at cost of just Rs.250 crores ($50m) and in 2005 planned to invest just Rs. 1500 crores ($300m) for extracting gas from the Deen Dyal field next to D-6 of RIL. But GSPC didn't proceed with Production Program to let RIL fully Inflate Capitalize its program without competition. 
 
Ø      RIL D-6 block production ought to have commenced by Jan2005 and GSPC Deen Dyal block by June2006 in view of its proximity to D-6, both contributing 200MCMPD (410 MBOE), & 20 MT (146 MBOE)of Crude Oil annually worth $500b considering higher Thermal Efficiency of CNG, lower processing loss. More when early development would have speed up Offshore OIL & Gas Explorations. 
 
Gross Incompetence & Corrupt CAG
 
Ø      CAG didn't object when DVB and other PSUs were spilt in to Generation, Transmission & Distribution, Trading Companies but All Private Companies were allowed all segments of power business - Distribution, Transmission, Generation, Trading, Renewables, mining etc. giving Unfair Advantage to Pvt Companies. 
 
Ø      CAG didn't object when Four Telecom Companies (Hutch, Airtel, Tata and Reliance) were allowed to operate all Conflicting Technologies – 2G, (CDMA, GSM), International Calls, VoiP, 3G, 4G, Optic Fiber, Cable Internet, Broadband, Land Lines, WLL, DTH, IPTV etc.  
 
Ø      Thus India has Cartels within Cartels. 
 
Ø      CAG has made Political 2G Report of 'Notional Losses' but didn't explain how four major players managed to operate all 'Competing Technologies' without licenses except for 2G.  
 
Ø      CAG didn't explain poor roll out of important services and poor quality of Telecom/IT services to 80% of population.
 
Ø      CAG didn't object how RIL managed Petroleum Sector Companies, Synthetic Textiles, Petrochemicals, Refineries, Gas Stations, Oil & Gas, Pipelines etc. 
 
REMEDY: - 
 
1. CAG ought to Prevent Economic Loss to India from early stages of Planning and awards of work to Competent and Resourceful Companies than Discover Notional Losses decade later when there is Non Recoverable Damage already. 
 
2. CAG ought to vigilant at all times.
 
3. CAG to UPGRADE its SKILLS, Engage Technical Experts and avoid politics. 
 
Thank you, 
 
Faithfully,
 
Ravinder Singh*
Inventor & Consultant
Progressindia008@yahoo.com 
 
*Ravinder Singh is a WIPO awarded inventor specializing in Power, Transportation, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects.
 
 
SOURCES of Main Evidence – DGH Annual Report 2009-10 and March2011 Production Stats. 
 
http://petroleum.nic.in/Monthly_Production/P_Mar_11.pdf 
As per production figures of Oil & Gas it is observed that while annual production has increased 22% to 26,054 MCM but there is 21% decline in production in recent months so Oil Equivalent (OE) production is 19 million tones (135 million barrels) at current production rate. In two years since April 2009 when production started RIL has produced 47,500 MCM of gas, 43 Million tones OE or 300 million barrels OE and produced 8.8 million tones of crude oil or 65 Million Barrels. So in 12 years since NEPL, India has developed just 365 million barrels of Oil Equivalent of Offshore Oil & Gas out of 205Billion BOE of projected reserves as of now. 
 
 
Xxxxxxxxxxxxxxxxxxxxxx
 
http://www.dghindia.org/pdf/09-10.pdf 
Out of the total sedimentary area of 3.14 million sq. kms in our country, an area of 2.2 million sq.kms has already been licensed. This leaves us with an area of 0.94 million sq.kms that is open for offer. Further, out of the total prognosticated resources of 205 billion barrels of oil and oil equivalent of gas, only 68 billion barrels have been established as in-place reserves. There is, thus, a vast potential of 137 billion barrels yet to be discovered oil present in the sedimentary area of the country. It is my firm belief that this can be found by accelerating the pace of exploration in the country and by offering new acreages expeditiously.
 
As far as oil and gas production is concerned, we envisage increase in the oil production from the existing level of around 5 MMT per annum to 12 MMT by the year 2010-2011 from existing fields operated by Pvt./JV companies. Gas production is also expected to increase to around 44 BCM per annum by the year 2011-12 and 54 BCM by the year 2014-15 from existing fields under Pvt./JV
companies from the existing level of 8 BCM per annum. These estimates are based on approved production profiles. However, many of the discoveries are currently under evaluation / appraisal.
 
The Secretary Petroleum Petroleum (S.Sundareshan) AR 2009-10 
xxxxxxxxxxxxxxxxxxxxxxx
 
 

[Non-text portions of this message have been removed]

__._,_.___

 

__,_._,___