Category Archives: OilGas
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Kerala Cabinet announces tie-up with BPCL to install compressed biogas plant fuelled by urban waste in Kochi
Posted on November 23, 2023 by Diligentia News in OilGas.A Kerala Cabinet meeting on November 22, 2023 sought to convert Kochi’s mounting organic waste problem into a civic advantage by engaging the public sector Bharath Petroleum Corporation Limited (BPCL) to construct an industrial-level compressed biogas plant that would turn tons of biodegradable refuse from households, hotels, marriage auditoriums and markets into valuable energy and […]
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Indraprastha Gas Targets LNG Trucking Amid EV Shift. Here’s What Morgan Stanley Makes Of It
Posted on November 23, 2023 by Diligentia News in OilGas.Indraprastha Gas Ltd.’s tie-up with Container Corp. to boost liquefied natural gas as trucking fuel will benefit the city gas distributor when it faces a risk from electric vehicle transition in Delhi, its largest market, according to Morgan Stanley. LNG trucking is a nascent market in India, unlike in China or the U.S., according to […]
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Brent crude futures jump over 2 per cent due to fears of supply cuts in Opec+ production
Posted on November 22, 2023 by Diligentia News in OilGas.Brent crude futures climbed more than 2 per cent, gaining $2 a barrel on Monday as further supply cuts in Opec+ production are expected in the coming weeks. Brent crude futures were up $2.00 to $82.61 a barrel by 1539 GMT. US West Texas Intermediate crude was up $1.65, or 2.17 per cent at $77.54. […]
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The Dramatic Downfall of ESG Investing
Posted on November 22, 2023 by Diligentia News in OilGas.Investors are withdrawing money from sustainable funds as the ESG enthusiasm of the past few years is waning amid high interest rates, poor returns, plunging renewable energy stocks, tightened SEC rules, and political backlash. Over the past year, investors have withdrawn a total of $14.2 billion from U.S. sustainable funds in four consecutive quarters of […]
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Galileo produces first LNG for India’s GAIL
Posted on November 22, 2023 by Diligentia News in OilGas.Global engineering and manufacturing company Galileo Technologies (Galileo) has marked a milestone in Asia’s energy development having produced the first batch of liquefied natural gas (LNG) for Indian natural gas company GAIL. To produce the LNG, Galileo uses its compact and modular Cryobox units which are connected to state gas pipelines. According to the company, […]
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JP Morgan Expects Brent Crude to Average $83 in 2024
Posted on November 21, 2023 by Diligentia News in OilGas.JP Morgan has forecast an average price for Brent crude of $83 per barrel next year amid a stable market. The forecast is based on the analysts’ expectations of resilient demand for oil in the United States, strong demand growth in emerging markets, and stability in European markets. For 2025, JP Morgan analysts said they […]
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Plans afoot to build strategic natural gas reserve
Posted on November 21, 2023 by Diligentia News in OilGas.India is drawing up a plan to build a strategic natural gas reserve with a capacity to store up to 4 billion cubic metres (BCM) of imported gas, which can be used in case of supply emergencies and to smoothen the domestic market, according to people familiar with the matter. After oil minister Hardeep Singh […]
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Supreme Court upholds gas power plant’s entitlement to fixed charges
Posted on November 21, 2023 by Diligentia News in OilGas.The Supreme Court of India (“Supreme Court”) in the case of Maharashtra State Electricity Distribution Company Limited v. Ratnagiri Gas and Power Pvt. Limited & Ors. upheld the decisions rendered by both Central Electricity Regulatory Commission (“CERC”) and the Appellate Tribunal for Electricity (“APTEL”) that Ratnagiri Gas and Power Pvt. Limited (“RGPPL”) is entitled to […]
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CONCOR ties up Indraprastha Gas to explore possibility of LNG/LCNG infra at terminals
Posted on November 21, 2023 by Diligentia News in OilGas.Railway PSU Container Corporation of India Ltd has signed an agreement with Indraprastha Gas Ltd to explore the possibility of setting up LNG or LCNG infrastructure at its terminals in Uttar Pradesh and Gujarat. This strategic partnership aims to revolutionise the logistics sector replacing diesel with natural gas, the Container Corporation of India Ltd (CONCOR) […]
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ONGC Set To Resume KG Basin Production In Boost For India’s Energy Self-Reliance
Posted on November 21, 2023 by Diligentia News in OilGas.The state-owned Oil and Natural Gas Corporation will start production of crude oil from its flagship deep-water project in Krishna Godavari Basin next week. The production will help India save nearly Rs 110 billion per year. India imports 85% of its crude oil requirements and about half of its natural gas needs. ONGC also plans […]
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