Category Archives: OilGas
-
Net-Zero Targets Face Reality Check
Posted on February 9, 2024 by Diligentia News in OilGas.Back in 2021, the International Energy Agency published what it called a landmark report titled “Net Zero by 2050: A Roadmap for the Global Energy Sector”. The report made quite a splash, not least because of the assumptions it involved about oil, gas, and coal use. Many companies, however, especially in the financial services world, […]
Continue Reading... No Comments. -
ONGC eyes crude-to-chemicals projects; fossil fuels priority for next three decades
Posted on February 9, 2024 by Diligentia News in OilGas.India’s ONGC Ltd. is actively looking to widen its upstream portfolio, as it believes that oil and gas will be a major component of the country’s energy mix for the next three decades while pursuing new crude-to-chemicals projects to prepare for the changing energy landscape, its chairperson Arun Kumar Singh said at the India Energy […]
Continue Reading... No Comments. -
‘World is grateful’: India keeps oil prices cheaper by buying from Russia, Indian oil minister says
Posted on February 9, 2024 by Diligentia News in OilGas.India keeps global crude prices affordable by buying oil from Russia, India’s energy minister said. “The world is grateful to India for buying Russian oil. It’s not that they don’t want us to buy Russian oil,” India’s Minister of Petroleum and Natural Gas Hardeep Singh Puri told CNBC’s Sri Jegarajah on the sidelines of the […]
Continue Reading... No Comments. -
HPCL to commission Barmer refinery by January 2025: Co exec S Bharathan
Posted on February 9, 2024 by Diligentia News in OilGas.Hindustan Petroleum Corporation Ltd (HPCL) will commission the country’s newest oil refinery at Barmer in Rajasthan by January next year that will help meet rising fuel demand in the north India, a senior company executive said. “The 9 million tonnes a year refinery is 76 per cent mechanically complete and will be completed by year […]
Continue Reading... No Comments. -
“Enough oil in the world”: Oil Minister Hardeep Puri says India not concerned about OPEC+’s output cuts
Posted on February 9, 2024 by Diligentia News in OilGas.Union Oil Minister Hardeep Singh Puri on Friday stated that India’s stance on OPEC+ production cuts and Saudi Arabia’s decision not to expand output capacity remains firm. “There is enough oil in the world and new suppliers are coming in,” Bloomberg quoted Puri as saying on the sidelines of India Energy Week in Goa. “You […]
Continue Reading... No Comments. -
Russian oil: India’s state oil refiners in talks with Rosneft to secure Russian crude for long term
Posted on February 9, 2024 by Diligentia News in OilGas.All three of India’s state oil refiners are in talks with Rosneft Oil Co PJSC to secure long-term supplies of Russian crude, an effort to move away from one-off purchases that have left them vulnerable to competition. Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp are in discussions, said people familiar with the […]
Continue Reading... No Comments. -
IndianOil-Adani Gas JV to invest Rs 2,500 crore to double gas sales
Posted on February 9, 2024 by Diligentia News in OilGas.IndianOil-Adani Gas Pvt Ltd will invest 25 billion rupees ($301.24 million) over four years as it looks to double gas sales to small industries and households in India, a company executive said on Friday. The company, an equal joint venture of refiner Indian Oil Corp and Adani Total Gas, daily sells about one million standard […]
Continue Reading... No Comments. -
India to overtake China as oil demand growth centre in 2027: IEA
Posted on February 8, 2024 by Diligentia News in OilGas.India will overtake China as the biggest driver of global oil demand in 2027 as transportation and industry consumption in the world’s fastest-growing major economy will drive growth despite a big push for clean energy and electrification, the International Energy Agency said on February 7. The Paris-based agency, in a special Indian Oil Market Outlook […]
Continue Reading... No Comments. -
India to be largest global oil demand growth driver through 2030 -IEA
Posted on February 7, 2024 by Diligentia News in OilGas.India is expected to be the largest driver of global oil demand growth between 2023 and 2030, narrowly taking the lead from top importer China, the International Energy Agency (IEA) said on Wednesday. The world’s third-largest oil importer and consumer is on track to post an oil demand increase of almost 1.2 million barrels per […]
Continue Reading... No Comments. -
India to invest $67 bn in 5-6 years for developing gas sector: PM Modi
Posted on February 7, 2024 by Diligentia News in OilGas.Prime Minister Narendra Modi on Tuesday said India will witness a USD 67 billion investment in the natural gas supply chain in 5-6 years as part of “unprecedented” investments flowing into the energy sector to meet the needs of the world’s fastest growing major economy. Speaking at the second edition of the India Energy Week […]
Continue Reading... No Comments.
