Category Archives: OilGas
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IREDA and PNB to co-finance green energy projects
Posted on February 20, 2024 by Diligentia News in OilGas.Indian Renewable Energy Development Agency Limited (IREDA) and Punjab National Bank (PNB) have joined hands through the signing of a memorandum of understanding (MoU) aimed at advancing renewable energy initiatives across the nation. The agreement, signed at IREDA’s Registered Office in New Delhi on Monday, paves the way for joint efforts in co-lending and loan […]
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Equinor signs 15-year LNG deal with India’s Deepak Fertilisers
Posted on February 20, 2024 by Diligentia News in OilGas.Norway’s Equinor EQNR.OL said on Monday it had signed a 15-year agreement to supply liquefied natural gas (LNG) to Indian fertiliser and petrochemical company Deepak Fertilisers DPFE.NS from 2026. The agreement covers an annual supply of around 0.65 million tons (around 9 terawatt hours) and will be used mainly as a feedstock for production of […]
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Fall in energy prices brings down India’s oil, gas import bill despite growth in volumes
Posted on February 20, 2024 by Diligentia News in OilGas.India’s net oil and gas imports in value terms for April-January of fiscal year 2023-24 (FY24) declined by nearly a fifth on a year-on-year (YoY) basis to $101.3 billion due to relatively lower prices of crude oil, natural gas, and petroleum products in the international market, as per latest data from India’s Ministry of Petroleum […]
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GAIL seeks four LNG cargoes for March-October delivery
Posted on February 20, 2024 by Diligentia News in OilGas.India’s largest gas distributor GAIL (India) Ltd has issued a tender to buy four cargoes of liquefied natural gas for delivery between March to October, said two industry sources on Monday. The cargoes are sought on a delivered ex-ship (DES) basis to the Dahej and Hazira terminals, with delivery windows of March 1-10 or 26-31, […]
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Adani-Total Gas betting big on LNG to fuel growth
Posted on February 19, 2024 by Diligentia News in OilGas.With quicker adoption of liquified natural gas (LNG) becoming a centre point in government’s gas policy and to control greenhouse gas (GHG) emissions, leading city gas distributor (CGD) Adani Total Gas Ltd has identified this super-chilled fuel to fuel its growth. Adani Total Gas Ltd (ATGL) is aiming to increase the adoption of LNG as […]
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Iraq follows Russia as second largest oil supplier to India
Posted on February 16, 2024 by Diligentia News in OilGas.Data issued by the Indian Ministry of Commerce and Industry revealed that Iraq was the second-largest oil supplier to India, after Russia, in December 2023. According to the figures, the cost of Russian crude oil exported to India decreased to $77.82 per barrel, compared to $79.34 per barrel for oil shipments imported from Iraq. Iraq […]
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India emerges as top buyer of Venezuelan crude oil in December, January
Posted on February 16, 2024 by Diligentia News in OilGas.After a gap of three years India emerged as the top buyer of Venezuelan crude for two consecutive months of December 2023 and January 2024, as per shipping fixtures and ship tracking data. Indian refiners had stopped oil imports from the Latin American country in 2020 after the United States (US) imposed sanctions on Caracas. […]
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BPCL to set up first-ever green hydrogen plant in an Indian airport
Posted on February 16, 2024 by Diligentia News in OilGas.Indian refiner Bharat Petroleum Corp Ltd (BPCL) said on Wednesday it will set up the first-ever green hydrogen plant inside an airport in the country. BPCL said it would build and operate a 1,000-kilowatt green hydrogen plant inside Cochin International Airport, which will contribute land, water and green energy resources. The initial output will be […]
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India’s oil & gas import bill likely to double in 15 years: PPAC
Posted on February 16, 2024 by Diligentia News in OilGas.The country’s primary energy demand, which is projected to almost double to 38.5 million barrels of oil equivalent per day (mboe/d) by 2045, will see the growth percentage of renewables being the highest at 11.5%. However, the share of oil- and coal-based power will remain at the top at 30.1% and 33.2%, respectively, as per […]
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India’s petroleum products demand to increase mid-single-digit percentage in 2023-24: Fitch
Posted on February 15, 2024 by Diligentia News in OilGas.India’s demand for petroleum products is likely to increase by a mid-single-digit percentage in the financial year ending March 2024, following a 10 per cent post-pandemic recovery in 2022-23, according to Fitch Ratings. Both petrol and diesel sales recorded robust 4-6 per cent increases in the first nine months of 2023-24, fuelled by heightened economic […]
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