Category Archives: OilGas
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Export of petroleum products falls to 15-month low in Jan
Posted on February 2, 2024 by Diligentia News in OilGas.India’s export of petroleum products fell to a 15-month low at 1.02 million barrels a day in January as the escalating tensions over the Red Sea prompted exporters to hold back shipments last month, data from data intelligence firm Kpler showed. January export volumes were the lowest since October 2022, when the country’s export of […]
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Biden Admin Announces Freeze On LNG Exports For Up To 15 Months
Posted on February 2, 2024 by Diligentia News in OilGas.The Biden Administration has announced a freeze on LNG export permits for 15 months to non-free trade agreement countries, arguing this period will be used to evaluate the impacts of LNG exports on energy costs, U.S. energy security and climate change. The move is likely to impact India if the freeze extends beyond a couple […]
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Asia crude oil imports start 2024 strongly as India leads: Russell
Posted on February 1, 2024 by Diligentia News in OilGas.Asia’s imports of crude oil saw robust growth in the new year, reaching an eight-month high in January as top buyers China and India snapped up cargoes. The world’s top-importing region saw arrivals of 28.57 million barrels per day (bpd) in January, up from 27.03 million bpd in December, according to data compiled by LSEG […]
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BPCL sets FY25 capex target at Rs 150 billion
Posted on February 1, 2024 by Diligentia News in OilGas.State-owned Bharat Petroleum Corp Ltd has set it capital expenditure target for 2024-25 at Rs 150 billion, the company said on Tuesday. Further, it also aims to expand its market networks with new pipelines underway. “Augmenting strong marketingnetworks, we have approved two pipeline projects from Mumbai refineries,” the company said on an analyst call. In […]
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ADNOC Gas expands Asian natural gas footprint with 10-year GAIL India LNG deal
Posted on February 1, 2024 by Diligentia News in OilGas.ADNOC Gas announced a 10-year agreement to supply 0.5 MMtpa of liquified natural gas (LNG) to GAIL India Limited, India’s leading natural gas company. This agreement underscores ADNOC Gas’ growing global presence, particularly in the Asian LNG market and further reinforces the relationship between the UAE and India. This agreement follows several significant international LNG […]
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State refiners may face margin pressure as cheap Russian oil imports dip
Posted on February 1, 2024 by Diligentia News in OilGas.State-run refiners could face margin pressure after the share of discounted Russian oil in India’s imports dipped to a year’s low in January. Volumes inched up from December, when fresh US sanctions were introduced, but were still 11 per cent lower in January than in November, according to ship tracking data and industry officials. The […]
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Fresh Sanctions Could Seriously Curtail Iran’s Surging Oil Exports
Posted on February 1, 2024 by Diligentia News in OilGas.Last year, we reported that the Biden administration has been increasingly cozying up to Iran as the U.S. and its allies hoped to strike a new nuclear deal with Tehran after the Trump administration scuttled the Joint Comprehensive Plan of Action (JCPOA) deal of 2015. Following the imposition of severe sanctions by Washington, Iranian oil […]
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RIL’s profit from consumer business to leapfrog petroleum
Posted on February 1, 2024 by Diligentia News in OilGas.Reliance Industries (RIL) is likely to witness higher profit growth in its consumer businesses—telecom and retail—from next year vis-à-vis its traditional oil refining and petrochemical business. The higher growth will help consumer businesses leapfrog RIL’s standalone business, which is oil to chemicals (O2C). The twist in the tale is that the conglomerate built the telecom […]
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Deadline to levy additional duty on unblended diesel deferred
Posted on January 31, 2024 by Diligentia News in OilGas.The Centre has deferred the deadline to levy an additional ₹2 per litre tax on unblended diesel by one more year to April 1, 2025, according to a Central Board of Indirect Taxes and Customs (CBIC) said in a notification. The levy on petrol and diesel that is not blended with ethanol and bio-diesel, respectively […]
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NGEL signs MoU with Govt of Maharashtra for development of Green Hydrogen Projects
Posted on January 31, 2024 by Diligentia News in OilGas.NTPC Green Energy Limited (NGEL) signed a memorandum of understanding (MoU) with Govt of Maharashtra for development of Green Hydrogen and derivatives (Green Ammonia, Green Methanol) of up to 1 million ton capacity per annum, including Pump Hydro Projects of 2 GW and development of RE projects with or without storage up to 5GW in […]
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