Category Archives: OilGas
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India Calls For $1 Trillion Annual Climate Funding from Developed Economies
Posted on February 15, 2024 by Diligentia News in OilGas.Developed economies need to provide at least $1 trillion per year to climate finance for developing countries to meet the national and global climate targets, one of the biggest developing economies and a major carbon polluter, India, said in a proposal to the United Nations. Developed countries have pledged to support developing economies with funding […]
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ATGL and INOX Partner for LNG in India
Posted on February 15, 2024 by Diligentia News in OilGas.Indian city gas distribution company Adani Total Gas Ltd (ATGL) and INOX India Ltd have signed a mutual support agreement for a liquefied natural gas (LNG) partnership. Under the agreement, the two companies have designated each other “preferred partner” status for the delivery of LNG and liquefied compressed natural gas (LCNG) equipment and services. ATGL […]
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India’s Natural Gas Consumption Set To Triple by 2050
Posted on February 15, 2024 by Diligentia News in OilGas.India’s industry expansion and rising oil refining to meet higher fuel demand are set to drive a tripling of the country’s natural gas consumption by 2050, the U.S. Energy Information Administration (EIA) said on Wednesday. In 2022, India’s natural gas consumption amounted to 7.0 billion cubic feet per day (Bcf/d), with over 70% of the […]
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Shell Lowers LNG Growth View as Demand Set to Peak in 2040s
Posted on February 15, 2024 by Diligentia News in OilGas.Shell Plc said that demand for liquefied natural gas by 2040 will be slightly lower than previously forecast as the world is preparing for life beyond fossil fuels. The LNG market “will continue growing into the 2040s, mostly driven by China’s industrial decarbonisation and strengthening demand in other Asian countries,” Shell’s report said. Shell holds […]
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As U.S. Pauses New LNG Project Permits, Iran Moves Full Ahead On Its Own
Posted on February 14, 2024 by Diligentia News in OilGas.Since Russia invaded Ukraine on 24 February 2022, liquefied natural gas (LNG) has become the world’s key emergency energy supply. It does not require the years of planning and construction as pipelined gas and oil, and it can either be secured readily through long-term contracts or bought immediately in the spot market if necessary and […]
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Tankers Tied to the Russian Oil Trade Grind to a Halt Following US Sanctions
Posted on February 14, 2024 by Diligentia News in OilGas.A chunk of the vast fleet of tankers that Russia uses to deliver its crude oil is grinding to a halt under the weight of US sanctions, a sign that tougher measures by western regulators might be starting to have tangible effects on Moscow About half of the 50 tankers that the US Treasury began […]
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Rs 18.63 billion Dividend tranche from GAIL to Central government
Posted on February 14, 2024 by Diligentia News in OilGas.GAIL India Dividend 2024: The central government has received a dividend tranche of about Rs 18.63 bn from GAIL (India) Ltd, informed the secretary at the Department of Investment and Public Asset Management through its X handle on Monday, February 12. Incorporated in the year 1984, GAIL it is engaged in the business of oil […]
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U.S. Oil Inventories Rise, Gasoline and Distillate Stocks See Strong Draws
Posted on February 14, 2024 by Diligentia News in OilGas.Crude oil inventories in the United States rose by 8.52 million barrels for the week ending February 9, according to The American Petroleum Institute (API), after analysts predicted a build of 2.6 million barrels. The API reported a 674,000-barrel rise in crude inventories in the week prior. On Tuesday, the Department of Energy (DoE) reported […]
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Red Sea Crisis Is Tightening Oil Markets
Posted on February 14, 2024 by Diligentia News in OilGas.Disruptions to shipping in the Red Sea and via the Suez Canal are raising the prices of African and U.S. crude grades and expanding the backwardation in the global Brent crude benchmark, signaling tightening markets and a run-up in diesel prices in Europe. Europe, which has been left exposed to more crude and fuel supplies […]
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HFE pioneers green hydrogen exploration in India
Posted on February 14, 2024 by Diligentia News in OilGas.Srivatsan Iyer, Global Chief Executive Officer of Hero Future Energies (HFE), the renewable energy division of the Hero Group, announced that the company is aggressively investigating prospects for green hydrogen projects in India. To explore several green hydrogen project options, the company is interacting with a range of customers throughout India. Announcements are expected in […]
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