Category Archives: OilGas
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Govt offers 15 CBM blocks in first bidding round in more than a decade
Posted on September 24, 2021 by Diligentia News in OilGas.The government has offered 15 blocks for extracting gas from coal seams (CBM) in the first bid round in more than a decade. The blocks are located in Maharashtra, Madhya Pradesh, West Bengal, Jharkhand, Odisha and Chhattisgarh, according to a notice inviting offers put out by the Directorate General of Hydrocarbons (DGH). Bids under the […]
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Oil looks set to test 3-year high as supplies tighten
Posted on September 24, 2021 by Diligentia News in OilGas.Oil prices rose for a fourth day on Friday, taking Brent towards three-year highs, as investors focused on tighter supplies amid strong appetite for riskier assets like crude and high hopes for recovery from the pandemic. Brent crude was up 40 cents, or 0.5 per cent at $77.65 a barrel, by 0037 GMT, after touching […]
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Why Europe is facing a gas price surge
Posted on September 24, 2021 by Diligentia News in OilGas.Prices for gas and electricity are soaring in Europe as winter approaches, forcing governments to react. Here is what’s behind the winter increase: – Why is gas so expensive? – European reference prices for natural gas have quadrupled in just six months, with the International Energy Agency (IEA) identifying a number of factors behind the […]
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Petronas CEO says gas price at $7-$8/mmBtu is ‘sweet spot’ for customers
Posted on September 23, 2021 by Diligentia News in OilGas.The chief executive of Malaysia’s state energy firm Petronas said on Tuesday that a gas price at $7-$8 per metric million British thermal units (mmBtU) could be a “sweet spot” for customers and allows investments to continue to happen. “Natural gas needs to be embraced as a transition fuel. A decarbonised future does not mean […]
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India refiners’ August crude oil processing lowest in 10 months
Posted on September 23, 2021 by Diligentia News in OilGas.Indian refiners’ crude oil throughput in August dipped to its lowest in 10 months due to ongoing maintenance activities at multiple refineries, government data showed on Wednesday. Refiners processed 4.36 million barrels per day (18.44 million tonnes) of crude oil last month, the lowest since October 2020 and about 4.8% lower than 4.58 million bpd […]
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OVL seeks another 2-yr extension for exploring Vietnamese oil block in South China Sea
Posted on September 23, 2021 by Diligentia News in OilGas.ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp (ONGC), has for the seventh time sought an extension to explore a Vietnamese oil block in the contested waters of the South China Sea. Officials said OVL has applied for a two-year extension to explore Block-128, the licence for which was valid till […]
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Petrol prices not coming down as states don’t want it under GST: Puri
Posted on September 23, 2021 by Diligentia News in OilGas.Petrol prices in the country are not coming down as the states do not want to bring fuel under the ambit of the GST, Petroleum Minister Hardeep Singh Puri said. In an interview to PTI here, Puri said petrol prices crossed the Rs 100-mark in West Bengal as the TMC government is levying heavy taxes. […]
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IEA presses Russia to end Europe gas shortage
Posted on September 22, 2021 by Diligentia News in OilGas.The International Energy Agency on Tuesday urged Russia to step up gas deliveries to Europe in anticipation of higher winter demand, as tight global supply pushes prices skywards. “Russia could do more to increase gas availability to Europe and ensure storage is filled to adequate levels in preparation for the coming winter,” the IEA said […]
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L&T Hydrocarbon Engineering bags ‘significant’ orders
Posted on September 21, 2021 by Diligentia News in OilGas.Larsen & Toubro (L&T) on Tuesday said one of its wholly-owned arm has bagged two orders in the construction services segment — one each from GAIL India and Air Products Middle East Industrial Gases LLC. The company did not provide the value of the contracts, but said the orders fall under the ‘significant’ category, which […]
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Oil giant Shell sets sights on sustainable aviation fuel take-off
Posted on September 21, 2021 by Diligentia News in OilGas.Royal Dutch Shell plans to start producing low-carbon jet fuel at scale by 2025, in an attempt to encourage the world’s airlines to reduce greenhouse gas emissions. Aviation, accounting for 3 per cent of the world’s carbon emissions, is considered one of the toughest sectors to tackle due to a lack of alternative technologies to […]
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