Category Archives: OilGas
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India, China skip signing renewable power pledge at COP28, 118 countries sig
Posted on December 4, 2023 by Diligentia News in OilGas.India and China have not signed the global renewable and energy efficiency pledge at this year’s Conference of Parties (COP28) climate summit, held in Dubai. The pledge was to triple the global renewable energy target by the year 2030. Meanwhile, a total of 118 nations have pledged to triple green energy. The Global Renewables and […]
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Proposed 5% Biogas Blending With Natural Gas Can Cut LNG Imports Worth USD 1.17 Billion: IBA
Posted on December 4, 2023 by Diligentia News in OilGas.The proposed 5 per cent blending of biogas with natural gas supplies in the country can cut LNG imports worth USD 1.17 billion annually, says a study by the Indian Biogas Association (IBA). The study comes against the backdrop of the government’s recent mandate to blend one per cent biogas with piped natural gas (PNG) […]
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Govt’s green hydrogen push to cut fossil fuel imports by INR 1 trillion
Posted on December 4, 2023 by Diligentia News in OilGas.The mission aims to reduce dependence on imported fossil fuels and feedstock and create export opportunities for Green Hydrogen and its derivatives to help the world fight climate change. Green Hydrogen is considered a promising alternative for enabling India’s transition to renewable energy and achieving Net Zero emissions by 2070. Hydrogen can be utilized for […]
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Russia Takes Control of Iraq’s Biggest Oil Discovery for 20 Years
Posted on December 4, 2023 by Diligentia News in OilGas.Preliminary estimates suggested that Iraq’s Eridu oil field holds between 7-10 billion barrels of reserves. Senior Russian oil industry sources spoken to exclusively by OilPrice.com last week said the true figure may well be 50 percent more than the higher figure of that band. In either event, the Eridu field – part of Iraq’s Block […]
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IOC raises Panipat refinery expansion cost by 10 per cent, pushes completion deadline by a year
Posted on December 4, 2023 by Diligentia News in OilGas.Indian Oil Corporation (IOC), the nation’s top oil firm, has revised the estimates of cost of expanding the Panipat refinery in Haryana by 10 per cent to Rs 362.25 billion and pushed back completion deadline by more than a year to December 2025. IOC is expanding its 15 million tonnes a year refinery, about 100-km […]
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GAIL seeks $1.8 bn from former Gazprom unit
Posted on December 4, 2023 by Diligentia News in OilGas.State-owned Gail India on Friday said it has initiated legal proceedings against a former unit of Russian energy giant Gazprom for non-delivery of LNG and has sought USD 1.817 billion in damages. In a stock exchange filing, the gas utility said it has filed an arbitration claim before the London Court of International Arbitration for […]
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India, Africa to be major contributors to 112 million barrel/day of peak global crude oil demand in 2030: S&P
Posted on December 1, 2023 by Diligentia News in OilGas.The global demand for crude oil is expected to see its peak in 2030 at 112 million barrels a day mark with India and Africa to be major contributors, according to S&P Global Commodity Insights. The current global demand of crude oil is at 103 million barrels per day, Pulkit Agarwal, head of India Content […]
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PSUs’ petrol sales up 7.5%, diesel down 7.5% in November
Posted on December 1, 2023 by Diligentia News in OilGas.State-run companies’ petrol sales rose 7.5% year-on-year in November while diesel sales fell by an equal percentage point. State companies sold 6% more jet fuel year-on-year in November and 1% less cooking gas, according to the provisional sales data provided by these companies. The oil ministry publishes consolidated sales data for the industry, including for […]
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India shows some reliance on Venezuelan oil after 3-year hiatus as US sanctions ease
Posted on December 1, 2023 by Diligentia News in OilGas.India is set to restart imports of Venezuelan oil after a three-year hiatus, according to brokers and shipping fixtures, as it rushes to take advantage of a US move to ease sanctions on the South American nation. Private refiner Reliance Industries Ltd has booked two supertankers, C. Earnest and C. Genuine, which are scheduled to […]
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Petrol, diesel price revision only when oil price stabilises below USD 80
Posted on December 1, 2023 by Diligentia News in OilGas.State-owned fuel marketing companies are likely to revert to daily revision in prices of petrol and diesel only when international oil prices stabilise below USD 80 per barrel on a sustained basis, industry officials said. Three state-owned fuel retailers — Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd […]
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