Crude Oil Global & Indian Scenario

Global Scenario

--> Oil accounts for 40 per cent of the world's total energy demand.
--> The world consumes about 76 million bbl/day of oil.
--> United States (20 million bbl/d), followed by China (5.6 million bbl/d) and Japan (5.4 million bbl/d) are the top oil consuming countries.
--> Balance recoverable reserve was estimated at about 142.7 billion tons (in 2002), of which OPEC was 112 billion tons.

--> OPEC stands for 'Organization of Petroleum Exporting Countries'. It is an organization of eleven developing countries that are heavily dependent on oil revenues as their main source of income. The current Members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates and Venezuela.

--> OPEC controls almost 40 percent of the world's crude oil.
--> It accounts for about 75 per cent of the world's proven oil reserves.
--> Its exports represent 55 per cent of the oil traded internationally.

Indian Scenario

- India ranks among the top 10 largest oil-consuming countries.
- Oil accounts for about 30 per cent of India's total energy consumption. The country's total oil consumption is about 2.2 million barrels per day. India imports about 70 per cent of its total oil consumption and it makes no exports.
- India faces a large supply deficit, as domestic oil production is unlikely to keep pace with demand. India's rough production was only 0.8 million barrels per day.
- The oil reserves of the country (about 5.4 billion barrels) are located primarily in Mumbai High, Upper Assam, Cambay, Krishna-Godavari and Cauvery basins.
- Balance recoverable reserve was about 733 million tons (in 2003) of which offshore was 394 million tones and on shore was 339 million tons.
- India had a total of 2.1 million barrels per day in refining capacity.
- Government has permitted foreign participation in oil exploration, an activity restricted earlier to state owned entities.
- Indian government in 2002 officially ended the Administered Pricing Mechanism (APM). Now crude price is having a high correlation with the international market price. As on date, even the prices of crude bi-products are allowed to vary +/- 10% keeping in line with international crude price, subject to certain government laid down norms/ formulae.
- Disinvestment/restructuring of public sector units and complete deregulation of Indian retail petroleum products sector is under way.

Market Influencing Factors

--> OPEC output and supply .
--> Terrorism, Weather/storms, War and any other unforeseen geopolitical factors that causes supply disruptions.
--> Global demand particularly from emerging nations.
--> Dollar fluctuations.
--> DOE / API imports and stocks.
--> Refinery fires & funds buying.

taken from mcxindia.com

Why Setting Big Goals for Yourself !!!!!!!

It is the First Key Step towards Your Mega Success?

Suppose there is a salesperson. He gets up in the morning thinking he may earn up to Rs 50 for his hard word that day. Even if he achieves his goal, this small money will not get him many of the material comforts he may want. Suppose he knows that he may earn up to Rs 500 or even Rs 5,000 for his hard work that day. In which of the two situations do you think the person will be more motivated and more effective? Of course, the situation giving him more money.

Similarly if one student's goal is to just pass and other student's goal is to get a first division (and may be a rank). Who do you think will be able concentrate better in the class? Who will be more effective? Who will learn better? If their intelligence and other factors are the same, then the student with higher goal will learn more efficiently.

So set a high goal. It does not have to be being first in the class or being first the country, because that may not be necessary or even useful. Make your goal like success in your competitive exam or getting a job, etc. which leads to some big gain for you.

Just because you set higher goal does not mean that you have to spend more hours studying/work. You can still study/work only as many hours as you want to. And while you study/work, put 100% effort.

So setting Higher Goal is much more better then setting a normal goal.

Rajasthan assembly election results out!!!

Result is as follows...

Party                           2008      2003
BJP                              77       120
Indian National Congress         96       56
Indian National Lok Dal (INLD)   0        4
Bahujan Samaj Party              6        2
Janata Dal (U)                   1        2
CPM                              3        1
CPIML                            1        0
Rajasthan Samajik Nyaya Manch    0        1
Lok Jan Shakti Party (LJNSP)     0        1
Samajwadi Party                  1        0
Other Parties                    1        0
Independents (IND)               14       13
Total Seats- 200           200    200

Congress is near to the majority in Rajasthan assembly election this time and will make the government too.The big question for congress is "Who will be the next Congress chief minister?".CM strong candidate for rajasthan is Ashok Gehlot, as C P Joshi is out from the CM race...(lost By 1 Vote).Finally Ashok Gehlot, former chief minister of Rajasthan, was chosen the leader of the state Congress legislative party.Gehlot was chief minister from 1998-2003 and has been acknowledged as the main architect of the Congress' comeback in the state.


Chief Ministr Vasundhra Raje won in Jhalara Patan.Now the blame game for BJP begins in Rajasthan. Central leaders are questioning the process of selection of candidates.In Chittorgarh all winner are from Congress. BJP is not even able to get a single seat. A big question for BJP? BJP Candidate and MP from Chittorgarh Mr. shri chandra kriplani lost the MLA election, a big question on him too.


From my hometown BARISADRI Mr. Prakash Chaudhary won 2nd time in queue.Thats a good news for Barisadri as the growth rate will definitely increase as after a long time we have MLA from the ruling party......

Appraisal!!!!!

Tips for successful chatting!!!!!!!

while chatting i decided that i will share this experience on blog..
I was new in chatting.. so faced many problems.So i m writing some tips for freshers.
some of these problems were regarding common terms like.........

* LOL - Laughing Out Load
* ROTFL - Rolling On The Floor Laughing
* BRB - Be Right Back
* IMO - In My Opinion

keep in mind if you want to have a positive chatting experience:

* Never type in capital letters People generally find this very annoying.
* Be polite to strangers.
* Don't be offensive.don't use offensive language.


New users first problem is "what to discuss or share while chatting!!!!"
so talk about

1. hobbies
2. family
3. college/work
4. Movies/novels
5. play game like rapid fire-->A give 2 choices to B and B have to choose one without taking time then B come up with 2choices and A have to choose.
example-->
A-->Love marriage/arranged marriage??
B-->Love marriage
5. play game like sharing daring-->exchange some files to each other files like photos, videos.. etc(you will get the photos of each other)
6. blogs....

after that no tips required... now u expert..

A year of big losses for TATA

This 2008 A year of big losses for Tata group!!!

1. The terror attacks at the Taj Mahal Hotel, at the peak of the earnings season.
2. Slowdown in the economy has put the brakes on production at Tata Motors.
3. Tata Nano project also was hit hard as it had to shift its location from Singur in West Bengal to Sanand in Gujarat.
4. Tata-Corus

Taj Mahal Hotel

The attacks are likely to hit the hotel's revenues for at least two years.
The restoration of Taj Mahal Palace would take about 12 months. It is estimated that it would take Rs 500 crore to restore the Taj back to its old glory. The loss of arising from interruption of business for Taj is expected to be Rs 300 crore for a year.While the hotel has been insured for losses arising from terrorism and business interruption.

Tata Motors

Tata Motors shut its Pune plant for 12 days this month.
The company had also shut the commercial vehicles production for 12 days at its Jamshedpur plant.Tata Motors sales is declined heavily.
The company which is under pressure to finance its $2.3 billion purchase of Jaguar and Land Rover (JLR), is looking to borrow from public, offering up to 11 per cent annual interest for a period of up to three years.

Tata Motors is slashing 3,000 temporary jobs at its Pune factory. Most of the temporary employees at its Jamshedpur plant have also been asked to quit.

Tata Nano

Tata Nano, the world's cheapest car, was to roll out from Singur this year. But the farmers' agitation supported by political parties made it impossible for the Tatas to continue in Singur.Tata Motors had spent about Rs 1,500 crore for setting up the project at Singur.Now he Tata Nano is expected to hit the roads in 2009.

Tata-Corus(Tata Steel)

Tata-Corus has also announced job cuts in the UK and the Netherlands, employing around 2,200 people.They has also cut 400 jobs in its distribution business in the wake of the global economic meltdown.The company has put into effect several cost cutting measures.