Category Archives: OilGas
-
Tankers: The Next Growth Cycle Can Be Fueled By India
Posted on February 27, 2024 by Diligentia News in OilGas.The tanker market could be headed for a significant leg of growth in the coming years, as a result of India’s gradual emergence, as a major player in the global economy, which in turn is fueling its oil and refining needs. In its latest weekly report, shipbroker Gibson said that “whilst there is significant debate […]
Continue Reading... No Comments. -
Oil regulator for opening ATF pipelines at airports
Posted on February 27, 2024 by Diligentia News in OilGas.Oil regulator PNGRB has proposed supplying jet fuel or ATF in all existing and future airports through pipelines that can be accessed by any supplier to bring in competition and cut fuel costs. Currently, ATF is transported by road and rail network and only a limited number of airports are linked with pipelines. Even where […]
Continue Reading... No Comments. -
Woodside Energy Expects a 50% Increase in LNG Demand by 2034
Posted on February 27, 2024 by Diligentia News in OilGas.Woodside Energy expects demand for liquefied natural gas to increase by 50% over the next ten years driven by Asia, Bloomberg has reported, citing chief executive Meg O’Neill. “We’re seeing signs of that demand growth in emerging Asia,” O’Neill told the publication. “There’ll be points in time where we’ll see a fair amount of new […]
Continue Reading... No Comments. -
Red Sea Crisis and OPEC+ Cuts Support Oil Prices
Posted on February 27, 2024 by Diligentia News in OilGas.Brent Crude prices have held above $80 per barrel for most of February, with signs pointing to a tightening in the physical market as OPEC+ production cuts continue and the rerouting of cargoes away from the Red Sea and the Suez Canal drags on. European refiners are looking for Atlantic Basin cargoes as arrivals from […]
Continue Reading... No Comments. -
Russia bans gasoline exports for 6 months from March 1
Posted on February 27, 2024 by Diligentia News in OilGas.Russia on Tuesday announced a six-month ban on gasoline exports from March 1 to compensate for rising demand from consumers and farmers and to allow for planned maintenance of refineries. The ban, first reported by RBC, was confirmed by a spokeswoman for Deputy Prime Minister Alexander Novak. Russia previously imposed a similar ban between September […]
Continue Reading... No Comments. -
The Oil Market Is Tightening to 2016 Levels
Posted on February 26, 2024 by Diligentia News in OilGas.Last week, the International Energy Agency reported that global oil demand growth is losing momentum, with demand growth clocking in at 1.4 mb/d in January, down from 2.8 mb/d in 3Q23 to 1.8 mb/d in 4Q23. According to the IEA, the expansive post-pandemic demand growth phase has largely run its course. Thankfully, falling supply is […]
Continue Reading... No Comments. -
Washington’s biggest sanction wave on Russian oil threatens to engulf India
Posted on February 26, 2024 by Diligentia News in OilGas.Washington is slowly but steadily cutting the umbilical cord that links Russian oil to India—shipping. The US, on Friday, unleashed the largest sanctions package, partly directed at Sovcomflot, Russia’s state-owned shipping behemoth, and on 14 of its vessels, which are some of the biggest carriers of Russian oil to India on a regular basis. Since […]
Continue Reading... No Comments. -
Qatar to boost gas output with new mega field expansion: minister
Posted on February 26, 2024 by Diligentia News in OilGas.Qatar on Sunday announced new plans to expand output from the world’s biggest natural gas field, saying it will boost capacity to 142 million tonnes per year before 2030. The new North Field expansion, named “North Field West”, will add a further 16 million tonnes of liquefied natural gas (LNG) per year to existing expansion […]
Continue Reading... No Comments. -
Mitsui O.S.K. Lines, soon to be a prized catch for GIFT City, in talks to build tanker at L&T yard
Posted on February 26, 2024 by Diligentia News in OilGas.Mitsui O.S.K. Lines, Ltd (MOL), the Japanese transport giant and the world’s third largest ship owner by fleet size, will likely open a unit in the Gujarat International Finance Tec-City (GIFT City) for leasing and owning ships and has separately opened talks with Larsen & Toubro Ltd (L&T) to build an oil tanker at its […]
Continue Reading... No Comments. -
FACT to set up green hydrogen plant jointly with OIL
Posted on February 26, 2024 by Diligentia News in OilGas.Fertilisers and Chemicals Travancore Limited (FACT) plans to set up a small green hydrogen plant at its premises in Kochi, in collaboration with Oil India Limited. The two major Central PSUs signed a memorandum of understanding (MoU) in Noida on February 22 to explore opportunities in the domain of green hydrogen, including green ammonia/green methanol […]
Continue Reading... No Comments.
