Category Archives: OilGas
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Biden Administration Plans Zero Offshore Oil And Gas Lease Sales For 2024
Posted on September 29, 2023 by Diligentia News in OilGas.The Biden administration will hold no offshore oil and gas lease sales next year and bring the total for the next five-year period to a minimum, Reuters has reported, citing unnamed sources. This means there will be just three lease sales over the four years beginning in 2025, the report also said. Reuters noted that […]
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Clean Hydrogen Dreams Delayed By Rising Costs
Posted on September 29, 2023 by Diligentia News in OilGas.There is currently not enough funding and support for hydrogen projects to roll it out on the scale they require to achieve the net-zero scenario by 2050, according to several energy experts. The widespread rollout of clean hydrogen projects has been restricted due to the high costs involved with producing the clean energy source, which […]
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Will We See $100 Oil In October?
Posted on September 29, 2023 by Diligentia News in OilGas.After rallying to more than $97 per barrel on Wednesday, Brent crude took a breather on Thursday as traders started to take profits and the macro-focus in the markets turned to rising interest rates. The bulls can thank a sustained fundamental tightening for helping offset concerns about a higher-for-longer rates cycle. Last week, the U.S. […]
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Aemetis Increases India Biodiesel Production To 60 Million Gallons
Posted on September 29, 2023 by Diligentia News in OilGas.Aemetis Inc. (Aemetis), a renewable natural gas (RNG) and renewable fuels company focused on negative carbon intensity products, announced that the company’s Universal Biofuels subsidiary has completed an expansion of its India biodiesel plant annual production capacity to 60 million gallons (227 million liters) more than one year ahead of schedule, supplying the expanding demand […]
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India withdraws new import duty on private-sector LPG importers as regional prices mount
Posted on September 29, 2023 by Diligentia News in OilGas.Oil ministry officials confirmed the withdrawal when contacted by S&P Global Commodity Insights. The funds collected under the Agriculture Infrastructure and Development, or AIDC, cess are aimed at improving the agricultural sector and were passed by the parliament around end-June/early-July. But the private sector deemed it an additional levy and not a part of the […]
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What Russia’s Fuel Export Ban Means For The Markets
Posted on September 28, 2023 by Diligentia News in OilGas.Russia’s temporary ban on diesel and gasoline exports—while intended to address domestic shortages and soaring prices—could exacerbate an already tight global diesel market and drive crude and middle distillate prices higher ahead of the winter. And its relaxation of the ban on low-grade diesel won’t stave off much tightness. Most analysts believe the ban will […]
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U.S. Oil And Gas Production Growth Accelerates Despite Higher Costs
Posted on September 28, 2023 by Diligentia News in OilGas.Oil and gas production in the U.S. expanded at a faster pace during the third quarter of the year despite still rising costs, the latest Dallas Fed Energy Survey has shown. Costs have now been on the rise for 11 quarters in a row, the Dallas Fed said, with the situation particularly difficult for oilfield […]
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$100 Oil Is Bad For The Economy (And For OPEC+)
Posted on September 28, 2023 by Diligentia News in OilGas.Crude oil prices are on the rise, driven by stark cutbacks imposed by Saudi Arabia and Russia, the main forces behind OPEC+. The cuts, implemented by the oil cartel in order to bolster oil prices, have been extremely successful, with barrel prices rising by a whopping 30% since June. Now, prices are hovering ever closer […]
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India imports 37.4 T Green Ammonia from Egypt through VOC Port for the first time
Posted on September 28, 2023 by Diligentia News in OilGas.India has imported 37.4 tonnes of Green Ammonia from Damietta Port in Egypt for the first time, said a statement released by the Ministry of Ports, Shipping and Waterways on Wednesday. “On September 23, 2023, V.O. Chidambaranar Port Authority, Tamil Nadu successfully handled 3×20 ISO Green Ammonia Containers, weighing 37.4 tons of Green Ammonia, from […]
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Russian oil sold to India at 30% above Western price cap: Traders
Posted on September 28, 2023 by Diligentia News in OilGas.Russia is selling oil to India at nearly $80 per barrel, some $20 above the Western price cap, traders said and Reuters calculations showed, as tight global oil markets help Moscow generate strong appetite for its exports. Russia’s main export grade Urals has been trading above the $60 per barrel Western price cap since mid-July […]
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