Category Archives: OilGas
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WTI Sheds Over 1.6% As Demand Trumps Everything Else
Posted on March 5, 2024 by Diligentia News in OilGas.Oil prices shed over 1% on Monday despite rising tensions in the Red Sea and on the front lines of the Israel-Hamas conflict, with OPEC+ extending voluntary production cuts and demand sentiment taking a beating from an unusually mild winter. At 2:28 p.m. ET on Monday, Brent crude was trading up 1.05% at $82.67, while […]
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India to bid for Israel oil-and-gas exploration blocks
Posted on March 5, 2024 by Diligentia News in OilGas.Indian state-run Oil and Natural Gas Corp. (ONGC) plans to bid for Israeli offshore oil-and-gas exploration blocks, India’s oil minister told Reuters, the first major deal between the two countries since a groundbreaking trip by Prime Minister Narendra Modi in July. India and Israel have deep defense ties but Modi and his right wing ruling […]
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India’s Jet Fuel demand surpasses pre-pandemic levels in February amid air travel surge
Posted on March 4, 2024 by Diligentia News in OilGas.India’s aviation industry witnessed a remarkable resurgence in February as the demand for jet fuel surged past pre-pandemic levels, driven by increased air travel activity, according to preliminary data from state-owned firms. Aviation turbine fuel sales by three state-owned fuel retailers recorded a notable uptick, rising by 7.1 percent to reach 6,32,600 tonnes in February […]
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Qatar’s Gas Boost Will Bring Energy Dominance — and Lots of Cash
Posted on March 4, 2024 by Diligentia News in OilGas.With a two-phase mega-expansion already underway and an enormous new buildout now on the horizon, the small Gulf nation of Qatar is setting itself up to control about a quarter of all liquefied natural gas by the end of the decade — and with it, a growing share of the world’s influence and wealth. Qatar’s […]
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Sri Lanka awards energy deal to India after rejecting China
Posted on March 4, 2024 by Diligentia News in OilGas.Sri Lanka on Friday awarded the construction of three solar and wind hybrid power generation facilities to an Indian company after scrapping a tender won by a Chinese firm. New Delhi has long been concerned about growing Chinese influence in the island nation, which sits near key global shipping lanes and which India considers to […]
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PM unveils oil and gas projects worth Rs 1.62 lakh cr across India
Posted on March 4, 2024 by Diligentia News in OilGas.Prime Minister Narendra Modi on Saturday unveiled a series of oil and gas sector projects worth about Rs 1.62 lakh crore across the country from Bihar’s Begusarai district. The projects are spread across various states like Bihar, Haryana, Andhra Pradesh, Maharashtra, Punjab and Karnataka. The PM also flagged off four trains, including the Danapur-Jogbani Express […]
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ONGC Board Approves JV with EverEnviro to Set up CBG Plants
Posted on March 4, 2024 by Diligentia News in OilGas.State-run Oil and Natural Gas Corporation (ONGC) will form a joint venture with EverEnviro Resource Management Pvt. Ltd., India’s leading compressed biogas / RNG developer to set up compressed biogas plants (CBG) across the country. The board of ONGC at its meeting held recently considered and accorded in principle, an approval for formation of joint […]
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OPEC+ Agrees to Extend Output Cuts Until Mid-Year
Posted on March 4, 2024 by Diligentia News in OilGas.Anonymous sources within OPEC revealed on Sunday that certain OPEC members and allies, spearheaded by Russia, have reached an agreement to prolong voluntary oil output reductions from the first quarter into the second quarter of 2024. These cuts, initially totaling approximately 2.2 million barrels per day (bpd), were endorsed by OPEC+ in November, with Saudi […]
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Wood Mac Shaves 1 Million BPD off Global Oil Demand Forecast
Posted on March 1, 2024 by Diligentia News in OilGas.Wood Mackenzie has revised its global oil demand forecast downward by 1 million barrels per day to 1.9 million bpd for 2024, with the biggest increases in demand coming from China and India. Citing a Wood Mac briefing during an Energy Institute conference in London, Reuters reported on Thursday that Wood Mac’s VP of oils […]
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IndianOil cancels tenders for 10 KTA green hydrogen unit
Posted on March 1, 2024 by Diligentia News in OilGas.The Indian Oil Corporation (IOCL) has cancelled its tender to set up the first green hydrogen plant in the company’s Panipat Refinery and Petrochemical Complex in Haryana, amid a lacklustre response and allegations that the tender norms favoured a joint venture that included the state-run oil marketing company. The Independent Green Hydrogen Producers Association, which […]
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