The different set of 6�� LWD tool was deployed in properly turnkey forex broker HX-5H (8�� hole) however tools could not be lowered into the well in view of quick landing of the casing. The tools have been finally demobilised (26 October 1998) at this stage and a committee was constituted on 27 October 1998 to conduct techno-economic evaluation of LWD operations and feasibility for additional use. Resultantly the purpose of hiring gasoline compression services was defeated as a result of delay and consequently ONGC suffered a loss of Rs.forty five.08 crore because of avoidable fuel flaring from October 1998 to May 2001. Management of their reply admitted (December 2001) the details and stated that against 34 parcels handled in June 1998 there was problem in solely two cases (Other case being on price, insurance coverage and freight foundation, the loss was borne by the seller). Considering the major calamity at Kandla, the efficiency of the Company was an achievement. The total good performance doesn’t justify not acquiring the assure from the vessel owner to safe the Company�s monetary interest and the Company has not fixed any responsibility in the matter.
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There are loads of Bitcoin brokers in the marketplace that a trader can choose from but here are some of the best to choose from. Ministry admitted (October 2001) that the brand new settlement was finalised at a decrease cost than the present one, however such incidence was very rare, contemplating the inflation available in the market price for materials, labour etc. It was also stated that necessary precautions were being taken to avoid such eventuality in future. Ministry whereas endorsing (June 2002) the reply of Management (January 2002) acknowledged that the alternative of blades could be determined only after survey by the IRS throughout dry docking, subsequently the job for procurement of blades could not be included as part of repairs. Ministry further added that the procurement of propeller blades in opposition to specific vessels could have increased the stock because it was not sure for which vessel IRS will ask for instant renewal/replacement.
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Thus, failure to rearrange alternate vessel on time and to safe adequate monetary safeguards to protect the curiosity of the Company towards vessel�s delay in reaching the load port, the Company needed to incur further expenditure of Rs.1.45 crore on storage. State surcharge is a half of assessable worth for fee of excise duty on petroleum products with effect from 3 July 1996. The matter was referred to Ministry in July 2002, their reply was awaited (September 2002).
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The lowest charges quoted within the tender were Rs.19000 for operations and Rs.2000 for inter-location motion which had been substantially lower by more than 32 per cent than those received within the previous tender. Failure to award job of procurement and fitting of the propeller blades to registered ship restore unit by ONGC led to avoidable payment of customs obligation amounting to Rs.1.10 crore. ONGC after opening the bids for fuel compression companies determined to re-tender the work with out advance fee clause. The delay in re-invitation of tenders resulted in a further flaring of gas to the extent of Rs.forty five.08 crore between October 1998 till May 2001. However, the delay of over two years in arriving on the above decision resulted in lack of Rs.1.65 crore and Management approved (March 2000) absorption of loss on this account.
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The General Manager (Logging), nevertheless, advised (12 November 1998) the tools be deployed in a single or two wells before last choice on removing LWD know-how. With a view to minimise avoidable flaring of Natural Gas and putting it to effective use by compression of Low strain Natural Gas of Gandhar GGS (Group gathering station)-1 and GGS-IV at Ankleshwar project. Oil and Natural Gas Corporation Limited (ONGC) decided (February 1997) to rearrange compression of Natural Gas in these fields to generate revenue by sale of fuel.
The Company additional added that very legitimate assumptions of Naphtha didn’t materialise only due to discovery/availability of a brand new gasoline, which couldn’t have been anticipated earlier. Investment of Rs.36.forty four crore on establishing of propylene separation unit at Panipat went waste as a result of flawed estimates/assumptions and failure to evaluation the project in time. Management said (March 2001) that the MS tanks might be used for storing Naphtha whose manufacturing was substantial and demand in the space around CBR was hardly enough leading to containment of the product at CBR and CBMT.
As per Company�s accredited time frame for processing of tenders for two-bid system, 30 days have been required for invitation and receipt of tenders and a hundred and twenty days for further processing. ONGC suffered a loss of Rs.1.21 crore due to implementation of unproven and untested expertise. The project needed to be eventually abandoned, as the identical was operationally unviable. It is clear from the sequence of events that LWD instruments have been mobilised with out ascertaining the standing of drilling the wild cat wells.
As per expert group report on petrochemicals ready by Rakesh Mohan Committee appointed by the Government, there could be a deficit of 764 TMT of propylene by the top of the century. The Company additionally approved (December 1995) organising a downstream acrynolonitrile (ACN) plant at Panipat, which would use complete propylene produced by this unit and by the Mathura unit as its input. This project could not materialise due to technical/safety causes. To start up the process of implementation of the Project, the Company awarded (November 1996) consultancy agreement to M/s. Under the then current Administered Price Mechanism (APM) for POL Products, the LPG Bottling Plant with an annual capacity of MT each year (MTPA) project was envisaged with a pay again interval of six years and inside price of return of 17 per cent.
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The Company did not give up the surplus land until 29 October 2001 when lube activity was transferred again to POL terminal from the place it was transferred. The Company incurred an avoidable expenditure of Rs.10.93 crore on rent during the period from April 1994 to October 2001. The Detailed Feasibility Report (February 1995) envisaged laying of twenty-two km long pipeline from Mumbai Refinery to Vashi with a design capacity of 1500 TMT(Thousand Metric Tonnes) each year.
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