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Showing posts from July 14, 2015

Iran nuclear deal

The Iran nuclear deal has significant implications for India,
1) India imports nearly 80 per cent of its energy requirements, so falling oil prices will benefit oil marketing companies such as HPCL, Indian Oil and BPCL. 
2) Falling oil prices are negative for upstream (exploration) companies, which weighed on shares in Cairn India and ONGC.
3) The Iran deal is likely to be "neutral" for Reliance Industries, which operates the world's largest refinery in Jamnagar.
4) Aban Offshore - India's largest offshore drilling services provider - gets 35 per cent of its revenues from Iran. Shares in the company closed 16.2 per cent higher. Easing of sanctions in Iran will help Aban's working capital situation, analysts say.
5) The oil ministry fears that Iran could award the right to develop its giant Farzad B gas field to Europeans who can deploy the latest technology and commit billions of dollars to modernising the country's oil-and-gas infrastructure. ONGC is currently in…