Category Archives: OilGas
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India’s Petronet hopes diplomatic row with Qatar will not hurt gas talks
Posted on October 31, 2023 by Diligentia News in OilGas.The CEO of India’s Petronet LNG said on Monday he hoped negotiations between India and Qatar to extend their long-term liquefied natural gas import deals beyond 2028 would not be harmed by a diplomatic row between the countries. The government in New Delhi said last week it was “deeply shocked” by a decision by a […]
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Oil Prices Plunge 3% as Market Weighs Israeli Attack on Gaza
Posted on October 31, 2023 by Diligentia News in OilGas.Oil prices plunged by 3% on Monday as market sentiment hedged its bets that Israel’s ground invasion of Gaza would not have global repercussions impacting oil and gas supplies. On Monday at 1:45 p.m. Brent crude was trading down 3.09% at $87.68 per barrel for a loss of $2.80 on the day. West Texas Intermediate […]
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BPCL says no payments pending for Russian oil imports
Posted on October 30, 2023 by Diligentia News in OilGas.Bharat Petroleum Corp (BPCL) has cleared all payments for Russian oil purchases, its head of finance Vetsa Ramakrishna Gupta told an analysts’ conference after the company’s September quarter earnings report. “As of today nothing is there beyond the due date,” Gupta said in response to a question about whether any payments to Russia were delayed. […]
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Sri Lankan government renews Lanka IOC’s petroleum licence for 20 years
Posted on October 30, 2023 by Diligentia News in OilGas.The Sri Lankan government has renewed the petroleum products licence granted to Lanka IOC, the local subsidiary of Indian Oil Corporation, for another 20 years, officials said on Monday. The licence originally issued in 2003 was to expire in January 2024. This will allow Lanka IOC to continue its retail operations on the debt-trapped island […]
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Dhamra LNG terminal built entirely on promoter finance; no financial commitment from IOC, GAIL, say sources
Posted on October 30, 2023 by Diligentia News in OilGas.Adani Group built an LNG import facility at Dhamra in Odisha entirely based on financial backing of promoters, with no financial undertaking or guarantees of public sector giants IOC and GAIL, who merely were tenants, sources said. Clarifying the group’s position, they said Indian Oil Corporation (IOC) and GAIL (India) Ltd have hired capacity on […]
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American Oil Giants Boost Domestic Footprint As Geopolitical Tensions Mount
Posted on October 30, 2023 by Diligentia News in OilGas.ExxonMobil and Chevron have just announced mega acquisition deals to buy U.S. firms, which will boost the footprint of the U.S. oil supermajors in their domestic upstream market and the hottest exploration success of the past few years, Guyana. Betting on expectations of sustained global oil and gas demand and the lower costs of supply […]
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Oil May Be About To Go Down On Higher Costs
Posted on October 30, 2023 by Diligentia News in OilGas.Analysts have been talking about three-digit oil prices for months now, yet the benchmarks have stubbornly refused to move above $100, whatever happens. One reason for this is the economic headwinds pressuring prices and keeping them from breaking out above $100. The other: costs related to moving oil around have soared, souring demand. Bloomberg reported […]
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Punjab signs pact with HPCL
Posted on October 30, 2023 by Diligentia News in OilGas.Punjab Energy Development Agency (PEDA) on Friday signed a memorandum of understanding (MoU) with Hindustan Petroleum Corporation Ltd (HPCL) for setting up ten compressed biogas (CBG) projects and other new and renewable energy projects in the state. The pact was signed by Chief Executive Officer, PEDA, Amarpal Singh and Executive Director, HPCL, Shuvendu Gupta here […]
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As a rising India becomes the ‘launderer’ of Russian oil, doubts over Western security ties grow
Posted on October 30, 2023 by Diligentia News in OilGas.Sitting at the top of a business empire that spans fossil fuels, telecoms and retail, he is India’s – in fact, Asia’s – richest person. Like India’s ascendant Prime Minister Narendra Modi, he hails from the western state of Gujarat, and is one of the country’s most visible and powerful tycoons. Among his international targets […]
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Govt achieves 12% ethanol blending target for ESY 2022–23: Oil Minister
Posted on October 27, 2023 by Diligentia News in OilGas.India has achieved the target of blending 12 per cent ethanol with petrol during the current ethanol supply year, which concludes in October 2023, Oil Minister HS Puri said on Thursday In ESY 2022–23 (December 2022–October 2023), the government had set a target of achieving 12 per cent ethanol blending with petrol. The target for […]
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