Category Archives: OilGas
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Oil Prices Continue to Fall Ahead of the EIA Report and Fed Meeting
Posted on December 13, 2023 by Diligentia News in OilGas.Crude oil prices began the day with a loss in Asian trading today as concerns about oversupply and weak demand continued to weigh on prices. Traders are also waiting for the outcome of a Fed meeting today and the Energy Information Administration’s latest weekly oil inventory report. Reuters noted in a report that recent economic […]
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India Aims for 20 Percent Ethanol Blending in Petrol by 2025-26
Posted on December 13, 2023 by Diligentia News in OilGas.The Indian government has successfully met the target of achieving a 10 percent average blending of ethanol in petrol under the Ethanol Blended Petrol (EBP) Programme in June 2022, surpassing the scheduled target of November 2022 by five months. The next ambitious goal is set at achieving 20 percent blending of ethanol in petrol by […]
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Qatar’s LNG expansion to boost 2024 credit outlook – Standard Chartered
Posted on December 13, 2023 by Diligentia News in OilGas.Qatar has a strong credit outlook for next year due to its liquefied natural gas (LNG) expansion and improving public finances, according to Standard Chartered. In its latest MENA Credit Outlook 2024, the bank noted that the Gulf state’s economic growth will continue next year, supported by positive indicators. During the first nine months of […]
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India May Ramp Up its Oil Purchase from UAE
Posted on December 13, 2023 by Diligentia News in OilGas.The expectations have risen to overcome the dependence on Russia because of high Russian shipments of crude oil since Indian refiners started depending more on Russian crude in 2022. Yet Russian oil shares overall two-thirds imports of India’s oil demands. India is expected to surge its oil purchase from the United Arab Emirates in the […]
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Gas firms seek price deregulation as city distribution targets fall behind
Posted on December 13, 2023 by Diligentia News in OilGas.Irked by the slow rollout of city gas distribution (CGD) networks in India, the Petroleum and Natural Gas Board (PNGRB) has told companies to get going or risk having their bank guarantees seized. In turn, the companies have told the regulator they are wary of committing investments without the government saying the time period in […]
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Global oil in softening mode: Bonanza for India
Posted on December 12, 2023 by Diligentia News in OilGas.Global oil prices have been softening for the past two months despite continuing geopolitical tensions. The phenomena of lower prices has defied predictions by investment agencies that had forecast oil skyrocketing in 2024. Instead, 2023 is ending with oil markets in bearish mode and the benchmark Brent crude being quoted at a low of 75 […]
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Petrol, diesel may get cheaper as OMCs become profitable
Posted on December 12, 2023 by Diligentia News in OilGas.Petrol and diesel prices in the country are expected to come down soon after remaining unchanged for over a year. The government has begun discussing ways to pass on the benefits of softening global crude prices to consumers before the 2024 Lok Sabha elections, according to a report by ET Now. In contrast to peak […]
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India’s refining capacity to rise 22% by 2028, says minister
Posted on December 11, 2023 by Diligentia News in OilGas.India will expand its refining capacity by about 22% from the current 253.92 million metric tons per year to meet its growing energy demand, junior oil minister Rameswar Teli said on Monday. Data compiled by Centre for High Technology, a technical wing of the federal oil ministry, shows the refining capacity of Indian refineries is […]
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PNGRB chairperson meets Himanta Biswa Sarma, highlights importance of City Gas Distribution
Posted on December 11, 2023 by Diligentia News in OilGas.Dr. Anil Kumar Jain, Chairperson, Petroleum and Natural Gas Regulatory Board (PNGRB) met Assam chief minister Himanta Biswa Sarma highlighted importance of City Gas Distribution (CGD) issues and sought for assistance of State government in promoting natural gas. Chairperson briefed CM about the progress of Oil & Gas Infrastructure in the state of Assam and […]
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India Could Boost Russian Crude Imports As Prices Fall
Posted on December 11, 2023 by Diligentia News in OilGas.As the price of Russia’s flagship crude fell below the $60 per barrel price cap and international benchmarks slumped, India expects to increase its purchases of Russian oil, an anonymous senior government official in India told Reuters on Friday. The price of Russia’s flagship crude, Urals, has dropped below the $60 per barrel price cap […]
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