Category Archives: OilGas
-
Natural gas price slashed to $7.82 per mmBtu for January
Posted on January 2, 2024 by Diligentia News in OilGas.The government has lowered the price of domestic natural gas for January to $7.82 per million British thermal units (mmBtu) from $8.47 per mmBtu last month. This marks the lowest domestic gas price since July 2023 and reflects a continued downward trend since August 2023. The price revision would be applicable on gas produced from […]
Continue Reading... No Comments. -
Gujarat emerges as India’s ‘petro capital’: Officials
Posted on December 29, 2023 by Diligentia News in OilGas.With the world’s largest grassroot oil refinery in Jamnagar and OPaL petrochemical complex at Dahej in Bharuch district, Gujarat is now recognised as the ‘petro capital’ of India, officials said. Reliance Industries Ltd’s (RIL) Jamnagar refinery is the largest and most complex single-site refinery in the world with 1.4 million barrels per day (MMBPD) crude […]
Continue Reading... No Comments. -
Petronet LNG to set up LNG terminal on east coast of India
Posted on December 29, 2023 by Diligentia News in OilGas.Indian LNG importer Petronet LNG Limited (PLL) has signed binding transaction documents with Gopalpur Ports to set up its maiden LNG terminal on the east coast of India. According to Petronet LNG’s social media update, sub-concession agreement, sub-lease deed, and port service agreement with Gopalpur Ports were signed on December 27, 2023. Under these agreements, […]
Continue Reading... No Comments. -
India’s LNG imports set for 7%-8% boost in 2024 on hopes of softer prices
Posted on December 29, 2023 by Diligentia News in OilGas.India’s LNG imports in 2024 are expected to get a boost if prices stay pressured, with year-on-year inflows likely to grow up to 7%-8%, driven by higher demand in the power, industrial and transportation sectors while infrastructure spending also strengthens in a year due for national elections. “India’s LNG imports will continue to increase, with […]
Continue Reading... No Comments. -
What’s In Store for Energy Markets in 2024?
Posted on December 28, 2023 by Diligentia News in OilGas.The year that is drawing to a close was a turbulent one, and not only for the oil industry. 2023 served up a reality check to the drivers of the energy transition, too—wind, solar, and electric vehicles. Next year will not be much different, it seems, judging by trends that we witnessed this year that […]
Continue Reading... No Comments. -
Russia, Iran Officially Ditch U.S. Dollar for Trade
Posted on December 28, 2023 by Diligentia News in OilGas.Russia and Iran have finalized an agreement to trade in their local currencies instead of the U.S dollar, Iran’s state media has reported. Both countries are subject to U.S. sanctions. “Banks and economic actors can now use infrastructures including non-SWIFT interbank systems to deal in local currencies,” Iran’s state media has declared. Moscow has lately […]
Continue Reading... No Comments. -
New U.S. Oil Field Developments Are A Sign Of Things To Come For Saudi Arabia
Posted on December 27, 2023 by Diligentia News in OilGas.Events often have a way of highlighting the circular nature of time rather than its linearity. An extraordinarily notable recent example of this was this year’s incursion into Israel of Hamas on Yom Kippur, just as happened on Yom Kippur 50 years earlier when an Arab coalition did the same. In the same way that […]
Continue Reading... No Comments. -
Swan Energy announces pre-payment of Rs 3 billion debt for its FSRU Project
Posted on December 27, 2023 by Diligentia News in OilGas.Swan Energy Ltd on Tuesday said that TOPL, subsidiary of the company, has pre-paid Rs 3.00 billion, out of its internal accruals, to its consortium of senior lenders of Floating Storage and Degasification Unit (FSRU) Project. “TOPL has also created the required Debt Service Retention Account (DSRA) of ~Rs 950 million,” it said in a […]
Continue Reading... No Comments. -
IOCL green H2 tender in legal mess, gets one bid
Posted on December 27, 2023 by Diligentia News in OilGas.The tender to set up the first green hydrogen plant of state-run oil refiner and marketer Indian Oil Corp. Ltd (IOCL) received one bid till the 29 November deadline, people aware of the development said. The bid came from GH4India Pvt. Ltd, which is IOCL’s own joint venture (JV) with infrastructure and engineering major Larsen […]
Continue Reading... No Comments. -
Clock ticking on India’s crude oil reserves, petroleum ministry gives time of 15 year
Posted on December 27, 2023 by Diligentia News in OilGas.India’s crude oil reserves will last another 15 years in the absence of new finds, the petroleum ministry has informed a parliamentary panel. “The E&P (exploration and production) companies under all regimes have reported 447.57 million tonnes (mt) of 2P Reserves (Proved + Probable) as of April 1, 2022. At the current annual production level, […]
Continue Reading... No Comments.
