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Drop in business after misuse drive by OMCs: LPG distributors demand more money

Sept 19:  There can be a side effect of doing something good.
8This was proved when All India LPG Distributors' Federation requested the petroleum ministry to raise their commission in light of the fact that there has been a drop in the sale of domestic LPG cylinders across the country due to capping of domestic refills.
 8Then again, blocking of customers with same name-same address and different name-same address has also resulted in lower sales.
 8The Federation pointed out that the drop in sales have been in varying percentages between 5 to 20%, resulting in huge under-utilization of the infrastructure created by them.
 8This has lead to erosion of their profit margin making their business unviable.
 8In light of this, they have sought an increase in their distributors commission.
 8The last revision was carried out with effect from October 5, 2012.

Bio-diesel for railways: OMCs express inability to supply bio-diesel because of regulatory barriers

Sept 19: The three Oil Marketing Companies (OMCs) -- HPCL, BPCL and IOC -- have expressed their inability to supply bio-diesel to Indian Railways (IR) because of regulatory barriers.
8In order to save foreign exchange, reduce fuel bill and emissions, the Railways have been planning to use bio-diesel upto 5% of its total fuel consumption in diesel locomotives.
8The OMCs have informed the Railways that in line with the Bio-Diesel Purchase Policy of October 2005, the supply of bio-diesel is subjected to procurement of pure bio-diesel (B100 Grade) by the oil industry. Under this policy, only B100 Grade bio-diesel can be procured at designated centers at a price fixed by the oil industry, which is reviewed every six months. As the current price, effective from April 2014, is Rs 45 per litre, no bio-diesel producer has come forward for supply of the fuel at this price.
8The other problem is that OMCs are not allowed to sell B100 Grade bio-diesel directly. The Railways is interested in procuring only B100 Grade because of lower taxation structure and also because it wants to go for in-house blending. Only B100 fuel can be used for in-house blending.
8In light of these regulatory restrictions, the Indian Railways has now requested the petroleum ministry to relax the conditions so that it can move ahead with its bio-diesel plans.

No setting-off of CST against VAT in Bihar: IOC faces a bill of Rs 1476 crore

Sept 19: The Patna High Court's order not allowing setting-off of Entry Tax against VAT in Bihar has sent IOC into a tizzy.
8In Bihar, the sale of petrol and diesel (MS and HSD) among oil companies is exempted from VAT. In other words, if IOC sells MS/HSD to OMCs within Bihar, it need not charge any VAT on such sale. The OMC procuring the fuel has to pay VAT on the sale within the state of Bihar.
8Earlier, set-off of Entry Tax for an amount of Rs 5.30 crore was disallowed by the Bihar sales tax authorities brought from outside the state, that is Haldia (West Bengal), and sold to OMC within the state (Bihar), on the grounds that such sale to OMCs does not attract VAT by virtue of inter-oil company exemption.
8When the case was referred to the Patna High Court, it held that since VAT is not payable by IOC on sale of MS/HSD to OMCs within the state of Bihar, set-off of Entry Tax against VAT cannot be allowed.
8In view of the Patna High Court order, the Bihar sales tax authorities have opined that no set-off of Entry Tax against VAT would be allowed on sale to MS/HSD to OMCs in any circumstances, neither if it is brought from outside the state (say, Haldia) nor if it is transferred from one place to another within the state (say, Barauni to Patna).
8The financial implication for IOC on account of sale of MS/HSD to OMCs for the period from 2009-10 upto 2013-14 for which assessment of Entry Tax for Bihar is still pending adds up to a whopping Rs 1,476 crore as principle amount of entry tax, apart from interest and penalties.
8A Special Leave Petition (SLP) has already been filed against the judgment before the Supreme Court, which is still pending.

Plenty of gas for CNG and PNG: Gujarat Gas gets cracking, invites multiple EOIs

Sept 19: Gujarat Gas Company Ltd (GGCL) is the first company which has got cracking after the company was recently asked by the government to raise its target for CNG and PNG connections. The company already has 4.53 lakh connections in the Surat-Bharuch-Ankleshwar area and it has been asked to achieve a level of 5.76 lakh by November 2015. Then again, a target of almost 5 lakh customers have been set for the Bhavnagar Geographical Area by March 2019.
Keeping its targets in mind, the company has invited the following EOIs:
Laying of polyethylene (PE) underground gas pipelines through Horizontal Directional Drilling (HDD) method Details
8Maintenance, shifting, replacement, extension, laying and modification jobs on its steel pipeline gas network
8Supply and job work of material for residential and commercial PNG connections
8Third Party Inspection (TPI) and certification for laying of steel pipelines
8Supply and services for hot tap works for charged gas steel pipeline network [GGCL] Details
8Route survey for internal piping survey for new commercial installation [GGCL] Details
8Installation, testing and commissioning of welded PNG connections [GGCL] Details
8Carrying out of steel pipeline construction activities [GGCL] Details
8Annual maintenance of gas metering installations at industrial customer premises [GGCL] Details

Ravva arbitration award: HPCL wants to pay up but will it set a bad precedent?

Sept 19: The government has not been able to take a decision on whether to pay up Ravva partners -- Cairn Energy, Ravva Oil Singapore, Videocon and ONGC -- in the dispute over delivery of crude under the Ravva PSC to the Vizag refinery as ordered by the Federal Court of Malaysia or should wait for the enforcement of the award by an Indian court.
8HPCL, which has handled the litigation on behalf of the government before the Malaysian courts, is of the view that waiting till the conclusion of execution proceedings would only accumulate the interest further and the final cost will only go up.
8The total financial implications on HPCL, the government nominee, on account of the award comes to $9.20 million (or Rs 41.94 crore), of which $0.112 million is the liability of CPCL.
8In view of the fact that there is no further course of appeal and that the Award has reached finality, HPCL wants to pay up and settle the dispute once and for all.
8The government however is pussyfooting on making the payments as there are other
Ravva arbitration cases where the stakes are very high
8An amount of $314 million is hanging in the case. The government has already issued a show-cause notice to the four contractors questioning as to why the Indian public sector Oil Marketing Companies (OMCs) not be directed to recover $314 million, along with interest, from the sale proceeds, payable by OMCs against purchase of Ravva crude.
8Keeping this in mind, the government
does not want to create a precedent of paying up, as suggested by HPCL, without putting up a fight.

Fire in HMEL refinery: VGO knocked off, restoration on

Sept 19: HMEL is carrying out restoration work of its Vacuum Gas Oil (VGO) unit which got knocked off in June 2014, during a fire incident at its Bhatinda refinery.
8It was on June 20, 2014, that a fire broke out in the refinery's 20-inch high pressure outlet line from the shell side of the reactor feed and the effluent feed exchange.
8Though there was no human injury, the impact on environment was huge when approximately 548 MT mix of VGO hydrocarbon and recycled gas (H2) got released in the air.
8The project management consultant (PMC) of the unit, licensed by Axens, was EIL and the unit was constructed by L&T.
8As part of the restoration work, two internal reactors and air coolers each are being repaired along with an exchanger.
8A total of 95 MT of steel is required for carrying out the repairs. Along with this, 75 kms of electrical and 70 kms of instrument cables are also being laid.
8Despite the huge quantum of work, the restoration work has been expedited by leveraging resources from the PMC, the licensor and the contractor.

Tender Briefs

Sept 19: 8ONGC invites bids for hiring of ultrasonic testing services in Mumbai region: ONGC has invited bids for hiring of ultrasonic testing services for thickness measurement of piping and vessels in the Mumbai region.
--The services will be hired for a period of three years.
--The bid documents can be procured before October 9, 2014.
The bid closing date is October 21, 2014 (16:00 hrs).
Click here
for more information
8More tenders: Some more tenders floated by oil and gas companies are:
--Installation of mass flow meters, Panipat [IOC] Details
--Hiring of hot circulation units, Mehsana [ONGC]
--Carrying out reconnaissance surveys for cross-country petroleum pipelines [Petronet MHB limited] Details
--Supply of new LPG cylinders fitted with SC valves [HPCL] Details
--Supply of carbon steel plates for fabrication of propane and butane storage vessels, Cochin [IOC] Details

E&Y Report on OIL's investment policy: New parameters formulated

Sept 19: OIL had engaged Ernst & Young (E&Y) to carry out a risk-based study of credit assessment of banks, CPSEs and SEBI-regulated public sector mutual funds based on DPE guidelines and financial results for FY 2013-14. As required, the consultant has completed the study and submitted its report to the company. The new parameters formulated by E&Y in the new investment policy relate to the following:
Company`s overall investment ceiling
Investments in Term Deposits with banks
Exposure limits with PSU and private banks
Exposure limits for investment in inter-corporate deposits (ICDs) with CPSEs
Exposure limits for investment in Mutual Funds
Investment in tax-free bonds
8Procedure for investment of surplus funds
Click here for more information

Calculation of unfinished work programme in Naftogaz's terminated blocks: Government to submit claim to official liquidator

Sept 19: While the DGH has agreed to reduce the cost of unfinished work programme in three E&P blocks -- CB-ONN-2004/5, AA-ONN-2004/4 and MZ-ONN-2004/2 -- operated by Naftogaz, it is not in a mood to let go off the partners in the block, Adani and Welspun, without paying the penalties.
8The DGH has reduced the
cost of the undrilled wells, as represented by Adani, on a dry well basis and without considering non-production days. The total cost of unfinished work programme in the block AA-ONN-2004/4 which was earlier pegged at $10.58 million has now been reduced to $9.85 million.
8Similar changes have been made in the calculations for the other two blocks, CB-ONN-2004/5 and
8As Naftogaz is under liquidation, the freshly calculated costing details for all the three blocks will be
submitted to the official liquidator attached to the High Court of Delhi from whom the government plans to recover the cost of the unfinished work.
8The DGH had slapped a massive $35 million penalty on Naftogaz for the unfinished work programmes in the three blocks after it came to light that Naftogaz India Private Limited (NIPL) had bagged the contract by making a false representation that it was a subsidiary of Naftogaz
of Ukraine.
8Adani and Welspun, both have a 35% stake in the two blocks, CB-ONN-2004/5 and AA-ONN-2004/4, which were operated by Naftogaz. After the operator`s termination, both the companies are now being asked to pay penalties
when the fault is not theirs.
8Reliance Natural Resources Ltd (RNRL) and Geopetrol, have a 10% stake each in the block MZ-ONN-2004/2, while REL Infra has the remaining 70%.

Gas for fertilizer units-I: Supply dwindles

Sept 19: Supply of gas to fertilizer units seems to have dwindled over the last few years.
8For instance, the average gas supply to fertilizer units during the third week of August (August 11 to 17, 2014) was 26.85 MMSCMD as against the prescribed level of 31.5 MMSCMD.
8The Empowered Group of Ministers (EGoM) had prescribed that the supply of domestic natural gas to fertilizer plants be maintained at a level of 31.5 MMSCMD, based on the supply level to fertilizer sector during 2012-13.
8Currently gas is being supplied to fertilizer units by GAIL, who supplies both, HVJ and non-HVJ gas, RIL supplies KG-D6 gas to some fertilizer units and OIL supplies directly to fertilizer units in the eastern region.
8Notably, the gas availability from ONGC and PMT-JV has been declining leading to lower supply levels to all gas customers, including to fertilizer units.
8As against availability of 28.73 MMSCMD of gas from ONGC at Hazira during 2012-13, only a total of about 25 MMSCMD of ONGC gas is available in August, 2014.
8Further, PMT gas availability gas has also declined from about 9 MMSCMD in 2012-13 to about 7 MMSCMD now in August, 2014. This decline in availability of gas from ONGC and PMT-JV has adversely affected the gas supply level to fertilizer units resulting in short supply of 3.22 MMSCMD by GAIL to the fertilizer units against the 2012-13 gas supply levels.
However, currently there is no systematic monitoring of these supplies, and to better manage this, GAIL has suggested a weekly monitoring system to capture the holistic picture of gas supplies to fertilizer units.
8The company has suggested that all suppliers submit a weekly statement to the ministry of their unit-wise gas supply level to various fertilizer units.
8Pertinently, in addition to domestic gas, R-LNG is also being supplied by GAIL, IOCL, BPCL and PLL to some of these fertilizer units based on long term contracts entered into with respective units.

Gas for fertilizer units-II: Priority to CGD means urea units can only get supply from additional production

Sept 19: The shortfall in supply to fertilizer units needs to be met, however, in view of the priority for the CGD sector, and a significant cut (to the tune of almost 45%) having already been applied to the non-priority sectors, the most logical way out for fertilizer units is to get supply from addition production.
8In fact, further cuts are anticipated for reallocation to CGD entities for CNG (transport) and PNG (domestic) in view of their growing demand.
8Pertinently, based on the current availability of APM gas from ONGC and after applying cut in accordance with CGD guidelines, the current level of APM supply to non-priority sector customers along HVJ and Ex-Hazira as per the existing action plan is only of the tune of 1 MMSCMD, which can be diverted to fertilizer units. However, looking at the aggressive growth in the CGD sector, it will be prudent to divert this gas to CGD sector in due course, rather than to partially meet the shortfall of the fertilizer units.
8Hence, the ministry should look at allocating any additional gas produced to the fertilizer sector customers.
8Notably, additional gas expected to become available from ONGC at Hazira, Uran and KG network.
8However, ministry has already allocated the additional non-APM gas to be available at Hazira to GAIL's LPG plants and C2+ extraction plant of ONGC at Dahej.
8Then, the additional gas available at Uran can be supplied to the fertilizer units on the high pressure HVJ network only once the compressor is installed and commissioned by ONGC in Uran as per ministry directions, which may take a year or so.
8However, the additional gas available at KG network from ONGCL and GSPCL can be allocated to Nagarajuna Fertilizers (NFCL) and the existing RIL KG D-6 gas allocation to NFCL may be re-allocated to other fertilizer units on the high pressure network (which includes all fertilizer plants except BVFCL).
8It is now to be seen whether the ministry finds it prudent to issue suitable directions regarding allocations of additional gas expected to be available in future to fertilizer units to meet their shortfall.

RIL laments cut in gas supply to IPCL: Appeals to ministry to support minimum allocation of 1.65 mmscmd for steady operation

Sept 19: Reliance Industries Limited (RIL) laments the cut in gas supplies to the petrochemical plant at Dahej, Gujarat, initially setup by Indian Petrochemicals Corporation Limited (IPCL) based on gas supply commitments from the government, and has appealed to the petroleum ministry to support minimum 1.65 mmscmd of gas allocation for steady operation of the plant.
8Notably, in the recent past, RIL has been experiencing a disproportionately lower allocation of PMT gas.
8The supply to the Dahej plant has shrunk to 0.6 mmscmd, or around 8.6% of the PMT gas production of 7.0 mmscmd, which is far below the proportional allocation norms as set out in the government order dated March 31, 2008.
8Claiming that gas is a critical feedstock for the petrochemical industry, with multiple benefits to the national economy, RIL has put forth its case to be assigned a higher priority in gas allocations.
8Gas to the Dahej plant was initially made from the ONGC's onshore fields at Dahej, but due to declining production in these fields, allocations were subsequently (in 2000) done form Hazira landfall point and then in 2008 additional allocations were made from the PMT fields.
8Pertinently, as per terms and conditions of government order, in the event of decrease in production from the PMT gas fields, there would be a pro-rata reduction in supplies to all customers including RIL.
8RIL has now appealed to the ministry to advise GAIL India Ltd. to maintain the supply of gas at this level on sustainable basis as per government order.

Red tape in exporting ethanol from UP: ISMA seeks help

Sept 19: The Indian Sugar Mills Association (ISMA) has sought the UP government's help to speed up the process of getting excise clearances and cut the red tape in exporting ethanol from the state.
8Blending of ethanol with petrol is not an easy job for Oil Marketing Companies (OMCs). Not only is there a shortage of ethanol but even for ethanol that is contracted, tedious state excise duty laws stand in the way of free movement of the product to depots operated by the OMCs.
8However, UP takes the cake.
8A key reason for delay in issuance of export permit for movement outside the state is because the UP state excise wants the destination state to verify the genuineness of the NOC issued.
8This is a very time consuming process, where the UP state excise department sends a letter to the importing state excise seeking genuineness of the NOC, and only on receipt of this does the export permit get issued.
8ISMA has claimed that since NOCs are obtained by the public sector navratna oil companies, that is IOCL, BPCL and HPCL, who are reputed organizations, the formality of obtaining genuineness certificate is completely unnecessary. They have further put forth that this process is unique to the state of UP only, and should be done away with.
8Notably, no permissions have been given for August, and consequently there has been no ethanol movement outside the state during the month, leading to drastic hit in ethanol supplies to oil companies as well as cash flow issues for sugar mills.

Doing away with archaic Acts: Things don't seem to be moving; ministry circulates another list

Sept 19: Not much seems to have come out from the feedback sought by the petroleum ministry on the list of Amending Acts after 1998 in response to the meeting that all secretaries to the government of India had with Narendra Modi in early June.
8Post the meeting, the Cabinet Secretary had asked every department to identify and repeal at least ten rules or processes, including acts which are archaic and redundant, and accordingly need to be removed from the Statute Book, but only a few ministries and departments have taken steps for identifying and repealing rules and laws and reviewing processes.
8Meanwhile, the Cabinet Secretariat has taken cognizance of the Report of the Commission on Review of Administrative Laws (1998) set up by the Department of Administrative Reforms and  Public Grievances which had provided a list of laws recommended for repeal.
8The ministry has now circulated an extract from this Report and once again asked the ministries and departments to review the Acts and submit their report.
8Notably, repeal of amending Acts is a periodical exercise undertaken by the legislative department  with emphasis on examining the amending Acts and to take steps to clean up the Statute Book.
8This exercise was last undertaken in 2001 by way of "The repealing and amending Act, 2001" covering the amending Acts from 1985 to 1998.
The website provides here, for reference purposes, the relevant extracts from the report, which includes details of the 166 Central Acts (including 11 pre-nationalization Acts and 20 validation Acts) that have been circulated.

BPCL performance highlights (July, 2014)-I: Gains market share

Sept 19: BPCL has registered an all-product sales growth of 5.1% during July, 2014 and a cumulative growth of 5.62% for the period April to July, 2014 as compared to industry average of 5.6% and 3.91%, respectively.
Details of the company's growth in market share for various products during July, 2014 are given below:
8BPCL`s all-product sales during July, 2014 stood at 2.81 MMT, registering a growth of 5.1%. This was higher than an industry-wide average growth of 5.6% during the same period.
8Notably, BPCL's MS Retail business achieved the highest growth of 6.3% against the industry's growth of 5.2%.
8CNG business achieved the highest growth of 7.0% against the industry's growth of 5.5%.
8FO/LSHS, SBP and MTO business achieved the highest growth of 17.2%, 20.4% and 3.2%, respectively, against the industry's growth of (-)8.9%, 0.0% and (-)1.5%, respectively.
8LPG business achieved the highest growth of 6.8% against the industry's growth of 5.0%.
8Lubricants business too achieved the highest growth of 2.7% against the industry's growth of (-)17.0%.
8On a cumulative basis, that is, from April, 2014 to July 2014, BPCL's all product sales was 11.90 MMT registering a growth of 5.62%, against the industry's average growth rate of 3.91%.
8The company's MS and HSD retail business achieved the highest growth of 9.18% and 3.38%, respectively, against the industry's growth of 8.43% and 2.35%, respectively.
8SKO (D), LDO (T) and FO business achieved the highest growth of 41.13%, 12.82% and 4.59%, respectively against the industry's growth of (-)4.26, (-)10.96% and (-)0.41%, respectively.
8Bitumen and SBP business achieved the highest growth of 26.33% and 3.06%, respectively against the industry's growth of 9.09% and (-)4.74%, respectively.
8I&C, LPG and Lubricants business achieved the highest growth of 9.87%, 10.96% and 16.65%, respectively against the industry's growth of 2.26%, 10.74% and (-)18.73% respectively.

BPCL performance highlights (July, 2014)-II: Details

Sept 19: The website carries here, for reference purposes, a performance overview of BPCL`s refining division for July, 2014, under the following heads:
8Refining, for Mumbai and Kochi refineries
 --Pipeline for transfer of LPG from BPCR/HPCR to Uran LPG plant
 --Replacement of CDU/VDU at Mumbai refinery
 --Integrated refinery expansion project (IREP) at Kochi refinery
 --Kota Jobner pipeline project
8Industrial relations
8Other highlights
 --BPCL R&D bags two Petrotech Research Fellowships
 --BPCL earns kudos from Jawaharlal Nehru Port Trust
 --"Soch" - vigilance e-magazine launched
 --IIIE performance excellence award for BPCL
 --BPCL donates burns unit
 --Kochi refinery achieves 36 million accident free manhours

News Briefs

Sept 19: 8Aam Aadmi Party says petroleum product pricing policy "unscientific": The Aam Aadmi Party has sent out a detailed note to the petroleum ministry claiming that the petroleum product pricing policy is unrealistic and unscientific, and has sought a series of related clarifications.
In this context, the party has raised points related to:
 --The pricing policy
 --Where the subsidies are going
 --Myth surrounding subsidy by ONGC and OIL
 --Customs duty in pricing of diesel and petrol.
The website provides here, for the readers` perusal, details of the note sent out by the party, including the series of suggestions and clarifications sought
8Some questions raised on purchase of petroleum products: The website carries here, for reference purposes, some questions raised by IOC on the purchase of petroleum products, under the following heads:
 --Whether the government has allowed OMCs to uplift petroleum products form private refineries, and,
 --If so, the details thereof, along with the pricing policy of the government to buy petroleum products from private refineries, and,
 --The steps taken by the government to pass on the said benefit to the consumers in the country. click here

Royalty at pre-discount price for Gujarat: PMO wants petroleum ministry to take action

Sept 18:  The Prime Minister's Office (PMO) has asked the petroleum ministry to take action on the issue of payment of royalty at pre-discount price to Gujarat after the Supreme Court ordered ONGC to pay royalty on crude oil at pre-discounted price since February 2014.
 8Though ONGC has paid royalty for the month of February and March 2014, at pre-discounted price, the Gujarat government wants all back payments to be made (from April 2008 onwards) amounting to a whopping Rs 15,000 crore, which includes a penalty of approximately Rs 5,000 crore.
 8The Gujarat High Court had earlier ordered that the royalty on crude oil has to be paid on the pre-discount price of crude oil from April 2008 onwards. In other words, it asked ONGC to pay all previous payments starting from April 2008 onwards.
8The Gujarat High Court order was taken to the Supreme Court for review by ONGC where the apex court gave an interim order that called for payments to be made at pre-discount prices from February 1, 2014 onwards.
8The PMO intervention will also benefit Assam as the state has also been pushing for payment of royalty at pre-discount price
as ordered by the Supreme Court in the case of Gujarat.
 8Assam will also get more royalty as 50% of the crude produced in the state is supplied to IOC at discounted price.

OPaL's petrochemical project-I: Dogged by delays

Sept 18:  There seems to be no end to troubles for the ONGC Petro-additions Ltd's (OPaL) Rs 27,122 crore petrochemical plant coming up at Dahej as not much progress is happening on the project. The project has achieved an overall progress of only 91.5%, as against the scheduled 100%. The details are:
Dual Feed Cracker Unit (Samsung of Korea and Linde of Germany): 93.7%
Polypropylene Unit (Tecnimont, Italy): 93.3%
Polyethylene (Swing) Unit (Tecnimont, Italy): 89.9%
Dedicated High Density Polyethylene Unit (Samsung): 95.3%
Butene-1 (Technip, France): 94.7%
Cooling Water System (Gammon): 84.9%
Instrument Air/Plant Air (BOC, Linde): 96.6%
Double Walled Storage Tanks (Vijay Tanks): 94.9%
Integrated Utility and Offsites (Fernas, Turkey): 85.8%
Steam Turbine Generator and Captive Power Plant (BHEL): 92.2%
Distributed Control Systems (Honeywell): 73.7%
Effluent Treatment System (HDOL): 83.1%
Product Warehouse (KTN-IOT): 85%
C2-C3-C4 pipeline (Ario): 90%
Central Laboratory (OCS, Germany): 80.2%
8Raw Water Treatment Plant (BHEL): 72.7%
 Going by the present speed of work, the project is likely to be commissioned in the first quarter of 2015.
 Click here for more information

OPaL's petrochemical project-II: Marketing plan chalked out

Sept 18: OPaL's petrochemical plant coming up at Dahej will consist of a dual feed cracker unit and associated facilities with a capacity to produce 1100 KTPA of ethylene and 400 KTPA of propylene. The associated facilities will produce benzene, butadiene, pygas and carbon black feed stock (CBFS).
The complex will supply about 50% of its products to overseas markets such as Africa, China, Vietnam, Malaysia, Indonesia, Singapore, Turkey, Pakistan, Bangladesh and Sri Lanka.
However, delays notwithstanding, OPaL has chalked out a marketing plan for both domestic and export markets. The details are:
 --The company has received a good response from actual users of OPaL's liquid products in the export market.
 --For export of polymers, OPaL will appoint offtakers having the capability to lift huge volumes.
 --EOIs with such offtakers have already been signed.
 --The company is in the process of appointing various channel partners for product placement and market penetration.
 --It has received Expression of Interests (EOIs) from various companies for off-take of its products on a long-term contract basis.
8OPaL plans to enter into final agreements with its channel partners and offtakers before December 2014.
 Click here for more information




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