Category Archives: OilGas
-
Mahanagar Gas may raise prices if subsidised supply drops more
Posted on February 7, 2024 by Diligentia News in OilGas.India’s city gas distributor Mahanagar Gas said it will consider hiking gas prices for customers if a shortfall in subsidised supply persists, a company executive said. Companies including Indraprastha Gas, Gujarat Gas, Mahanagar Gas have seen their margins squeezed because the allocation of natural gas sold under government-set Administered Pricing Mechanism (APM) has fallen because […]
Continue Reading... No Comments. -
India Seeks Stronger Energy Ties With US; Asserts Russian Oil Purchases Stabilize Market
Posted on February 7, 2024 by Diligentia News in OilGas.In the midst of geopolitical turbulence sparked by the Ukraine war, India has underscored the importance of its energy partnership with the United States, citing its strategic purchases of Russian oil as a stabilizing force in global crude markets. According to S&P Global Commodity Insights, Assistant Secretary of State for Energy Resources Geoffrey R. Pyatt […]
Continue Reading... No Comments. -
Supply and Demand Shocks Still Rocking Energy Markets
Posted on February 5, 2024 by Diligentia News in OilGas.A year and a half after a renowned Harvard professor described the pandemic of 2020 as “the mother of all shocks” to energy markets, oil and gas prices are still being rocked by supply and demand shocks, with economic growth trends and geopolitical tensions offsetting or exacerbating them. “One reason why oil and gas prices […]
Continue Reading... No Comments. -
LNG Prices Linger at 7-Month Lows Despite High Asian Imports
Posted on February 5, 2024 by Diligentia News in OilGas.Ample supply is keeping spot LNG prices in Asia around the lowest level in seven months, defying seasonal patterns in which prices spike in peak winter. Last week, the average LNG price for March delivery into northeast Asia was up by $0.10 week-on-week to $9.60 per million British thermal units (MMBtu), remaining close to the […]
Continue Reading... No Comments. -
Green hydrogen: Proposals for projects worth ₹2.70 trillion received, says energy minister
Posted on February 5, 2024 by Diligentia News in OilGas.To boost energy production from non-conventional sources, the Uttar Pradesh government was spearheading campaigns such as installing rooftop solar panels in 25,000 homes in Varanasi, energy minister AK Sharma said here on Saturday adding the goal was to provide roof-to-grid solarisation to 1.35 million households across the state. He also said that the state had […]
Continue Reading... No Comments. -
India’s crude oil imports from Russia hit 12-month low but long-term appetite remains intact
Posted on February 5, 2024 by Diligentia News in OilGas.India’s crude oil imports from Russia fell for a second straight month in January to its lowest in 12 months but the nation’s insatiable appetite for Russian crude remains for the long term, according to data from energy cargo tracker and industry officials. Russia supplied 1.2 million barrels per day of crude oil to India […]
Continue Reading... No Comments. -
SAF, Green Hydrogen, CCUS likely to be in spotlight at IEW 2024: EIL CMD
Posted on February 5, 2024 by Diligentia News in OilGas.India is gearing to host the second edition of its flagship energy sector event, India Energy Week (IEW) 2024, in Goa from February 6-9. In the run-up to the event, PSU Watch spoke to Engineers India Limited’s (EIL) Chairperson and Managing Director Vartika Shukla to get a sense of the themes that will dominate the […]
Continue Reading... No Comments. -
MRPL signs 5-year pact with BPCL for RLNG supply from Kochi
Posted on February 5, 2024 by Diligentia News in OilGas.Mangalore Refinery and Petrochemicals Ltd. (MRPL) has signed a five-year gas supply agreement with the Bharat Petroleum Corporation Limited (BPCL). Under the agreement, BPCL will supply 0.43 MMSCMD (Million Metric Standard Cubic Metres a Day) of RLNG (Regasified Liquefied Natural Gas) to MRPL’s refinery and petrochemical facility in Mangaluru from its Kochi terminal. Sathyanarayana H.C., […]
Continue Reading... No Comments. -
ONGC, IOC, other oil PSUs to invest ₹1200 billion in FY25
Posted on February 5, 2024 by Diligentia News in OilGas.ONGC, IOC and other oil PSUs will invest about ₹1200 billion in the coming fiscal starting April in oil and gas exploration, refineries, petrochemicals and laying pipelines to meet the needs of the world’s fastest-growing energy consuming nation. The investment proposed in 2024-25 is 5 per cent higher than ₹1120 billion spent by the State-owned […]
Continue Reading... No Comments. -
Budget: Govt puts off equity infusion in state oil companies to next fiscal
Posted on February 2, 2024 by Diligentia News in OilGas.The government has pushed its plan to infuse equity into Indian Oil, Bharat Petroleum, and Hindustan Petroleum to the next fiscal year and slashed the proposed amount by half to ₹15,000 crore, according to the budget document. This means the planned rights issue by Indian Oil and BPCL will be deferred to the next fiscal […]
Continue Reading... No Comments.
