Category Archives: OilGas
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India Sees 9% Jump in Gasoline Consumption in November
Posted on December 2, 2024 by Diligentia News in OilGas.Gasoline sales in India hit 3.42 million metric tons in November, which was a 9.2% increase on the year, the Economic Times has reported, noting diesel demand also grew, with November sales adding 8.4% on the year to 8.158 million tons. Aviation fuel demand also grew last month, further evidence of India’s growing demand for […]
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Iran, India, Uzbekistan to ease transit thru Chabahar Port
Posted on December 2, 2024 by Diligentia News in OilGas.Officials from Iran, India, Afghanistan, and Uzbekistan in the third joint working group exchanged their views regarding the facilitating the trade transactions and transiting and transporting goods through Chabahar Port. According to the Iran Ports and Maritime Organization, the third joint working group was held in Mumbai, India, in the presence of Deputy Director of […]
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U.S. LNG Demand Nears Record Highs as Winter Looms
Posted on December 2, 2024 by Diligentia News in OilGas.U.S. liquefied natural gas (LNG) plants are running near full throttle, with demand from export facilities hitting 14.6 billion cubic feet (bcf) on Friday. That’s just shy of the all-time record of 14.7 bcf set last December, according to data from LSEG. The surge comes as cooler weather settles in and outages at key facilities, […]
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The Next Four Years Will Be All About Natural Gas
Posted on December 2, 2024 by Diligentia News in OilGas.Earlier in the year, energy analytics firm Wood Mackenzie predicted that a second Trump presidency could place a huge part of renewable energy investments at risk, increase carbon emissions by 1 billion tonnes more by 2050 and delay peak fossil fuel demand by 10 years beyond current forecasts. Not surprisingly, WoodMac expects the fossil fuel […]
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ONGC Expands Global Reach with New Stake in Azerbaijan’s ACG Oil Field
Posted on December 2, 2024 by Diligentia News in OilGas.ONGC’s wholly-owned subsidiary ONGC Videsh Ltd, has purchased a participating interest of 0.615% in the Azerbaijan located Azeri-Chirag-Gunashli oil field. The deal includes ONGC Videsh acquiring 0.737% equity in the pipeline company Baku-Tbilisi-Ceyhan through its wholly owned subsidiary ONGC BTC Ltd. The deal worth $60 million was sealed on 29 November 2024 and is a […]
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Trudeau Government Frets Over Trump Oil Tariffs
Posted on November 29, 2024 by Diligentia News in OilGas.The federal government of Canada has signaled it worries about the possibility of the next U.S. administration imposing a 25% tariff on all Canadian exports south, Reuters has reported. “We have some work to do to make sure we are effectively articulating the way in which tariffs would be counterproductive, and that’s not just true […]
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India cuts back cheap gas for vehicles even as bad air chokes Delhi
Posted on November 29, 2024 by Diligentia News in OilGas.India is cutting back its supply of cheap gas for vehicles as it struggles to cope with domestic production shortages, a move that could add to toxic air woes in major cities including New Delhi. Supply constraints have left retailers like Indraprastha Gas Ltd and Mahanagar Gas Ltd increasingly reliant on more expensive imports — […]
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GAIL’s arm inks pact with process licensor for revival of PTA manufacturing plant
Posted on November 29, 2024 by Diligentia News in OilGas.Gail (India) announced that its wholly owned subsidiary, GAIL Mangalore Petrochemicals (GMPL), re-engaged with process licensor INEOS to support the plant’s revitalization, formalizing renewed collaboration through an amendment agreement. This marks a significant step towards the revival of GMPLs 1.25 MMTPA purified terephthalic acid (PTA) manufacturing plant located in the special economic zone (SEZ), Mangalore. […]
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Finance ministry weighs removing windfall tax amid falling crude prices: Report
Posted on November 29, 2024 by Diligentia News in OilGas.The Finance Ministry is assessing the potential removal of the windfall tax and monitoring the trend of crude oil prices before making a decision, according to a Reuters report. Business Today was unable to verify the development independently. Introduced in July 2022, the windfall tax was a special levy on domestic crude oil production, aimed […]
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India to expand refinery capacity to 310 MMTPA by 2028, ethanol blending to hit 20% next year
Posted on November 28, 2024 by Diligentia News in OilGas.India is set to expand its refinery capacity from 256.8 million metric tonnes per annum (MMTPA) in 2024 to 310 MMTPA by 2028, while ethanol blending in petrol is expected to reach 20% in 2025, Petroleum and Natural Gas Minister Hardeep Singh Puri said. He was addressing the FIPI Oil & Gas Awards 2023 ceremony, […]
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