Category Archives: OilGas
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Oil Prices Retreat As OPEC+ Cuts Another 684KBPD, Brazil Joins OPEC+
Posted on December 1, 2023 by Diligentia News in OilGas.Oil prices began to retreat on Thursday afternoon as it became clear that OPEC+ members were agreeing to voluntary cuts beginning in the new year, and that those cuts would be announced only by each member country instead of by the group as a whole. OPEC+ announced during the full OPEC+ meeting on Thursday that […]
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GAIL’s 3 GSRTC Diesel buses converted to LNG
Posted on December 1, 2023 by Diligentia News in OilGas.GAIL celebrates the remarkable accomplishment as 3 GSRTC Diesel buses that were converted to LNG covered an impressive 6,45,105 KM in just 431 days. Share This
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HPCL will commission Chhara LNG terminal in two-three months
Posted on December 1, 2023 by Diligentia News in OilGas.Hindustan Petroleum Corporation Limited (HPCL) is planning to commission Chhara LNG import terminal with a capacity of 5 million tonnes per annum in Gujarat in the next two-three months. A senior official of the company gave this information on Thursday and said that 6-7 parties have already offered to place orders. Share This
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Traders Don’t See OPEC+ Substantially Lifting Oil Prices
Posted on November 30, 2023 by Diligentia News in OilGas.Portfolio managers continued to be bearish on crude oil prices ahead of the now-delayed OPEC+ meeting, further selling off Brent and WTI futures and options and halving the net bullish bet on oil in two months. The bearish positioning in crude oil in the past eight weeks suggests that hedge funds and other money managers […]
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India becomes the 2nd largest supplier of refined oil to Europe, thanks to cheap Russian crude
Posted on November 30, 2023 by Diligentia News in OilGas.India has become the European Union’s second-largest supplier of refined petroleum products in 2023, despite relying almost fully on imported crude, thanks to the availability of cheap Russian oil imports. Since Russia’s invasion of Ukraine and the imposition of several trade sanctions on Moscow, Saudi Arabia has been the largest supplier of refined petroleum products […]
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Saudi Arabia Expected to Cut the Price of Its Oil to Asia
Posted on November 29, 2023 by Diligentia News in OilGas.Saudi Arabia is expected to reduce its official selling price for crude for Asian buyers, a survey among analysts conducted by Bloomberg has shown. According to the survey sample, including a total of six refiners and traders, the move would be prompted by intensified competition for the Asian market and cheaper crude from the United […]
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U.S. Crude Oil, Gasoline, Cushing See Inventory Dips
Posted on November 29, 2023 by Diligentia News in OilGas.Crude oil inventories in the United States fell this week by 817,000 barrels for week ending November 24, according to The American Petroleum Institute (API), after a 9.05-million-barrel rise in crude inventories in the week prior, API data showed. Analysts had expected a 2 million barrel draw. API data shows a net build in crude […]
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After tanking in September, India’s crude oil imports rise in October
Posted on November 29, 2023 by Diligentia News in OilGas.India’s crude oil imports appreciated in October 2023 largely propelled by growing domestic demand after the inbound shipments hit their lowest in the last 12 months in September this year. According to the Petroleum Planning and Analysis Cell (PPAC), crude oil imports by the world’s third largest importer rose 6 per cent q-o-q and more […]
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Adani Total to blend green hydrogen with natural gas
Posted on November 29, 2023 by Diligentia News in OilGas.Adani Group’s city gas distribution company Adani Total Gas Ltd on Tuesday announced a pilot project on green hydrogen production and blending as it looks to diversify its energy mix, develop a hydrogen ecosystem as well as reduce CO2 emissions. As part of the project, Adani Total Gas will use the latest technologies to blend […]
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Traders Cut Bullish Bets on Oil Ahead of OPEC+ Meeting
Posted on November 28, 2023 by Diligentia News in OilGas.Hedge funds and other institutional traders have reduced their bullish position on oil substantially ahead of the OPEC+ meeting on Thursday. In the week to November 21, bullish bets were slashed – with net-long positions being cut by over 19,000 positions to the lowest since June, Bloomberg reported, citing data from ICE Futures Europe and […]
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