Category Archives: OilGas
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India can reduce fossil fuel dependence, cut import bills by $29 bn through biogas adoption: Report
Posted on October 26, 2023 by Diligentia News in OilGas.Replacing natural gas consumption with biogas and biomethane incrementally to 20 per cent by 2030 can help India cut liquefied natural gas import bills by USD 29 billion between financial years 2025 and 2030, according to a new report. The report from the Institute for Energy Economics and Financial Analysis (IEEFA), underscores the environmental advantages […]
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Linde (LIN) to Supply Industrial Gases to Indian Oil’s Panipat Refinery
Posted on October 26, 2023 by Diligentia News in OilGas.Linde announced today that its entities in India have signed long-term agreements for the supply of industrial gases to Indian Oil Corporation’s Panipat refinery in Northern India. Linde’s entities will build, own and operate major new on-site facilities to supply hydrogen, nitrogen and compressed dry air to Indian Oil. The new on-site facilities will support […]
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OPEC’s Share Of India’s Oil Imports Hits Record Low
Posted on October 20, 2023 by Diligentia News in OilGas.OPEC had a record-low share of India’s oil imports between April and September, as the world’s third-largest crude importer more than doubled purchases of Russian crude, according to industry and trade data compiled by Reuters. Between April and September, the first half of India’s 2023/2024 fiscal year, Indian imports of Russian crude oil more than […]
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IGX hopes to launch contracts for LNG trading next month: CEO Mediratta
Posted on October 20, 2023 by Diligentia News in OilGas.The Indian Gas Exchange (IGX) hopes to launch contracts for the trading of liquefied natural gas (LNG) next month, enabling companies not linked to the pipeline network to use the cleaner fuel, its chief executive said on Thursday. India is building a vast gas pipeline network and import facilities as Prime Minister Narendra Modi wants […]
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Traders Dumped Oil Despite Middle East Tensions
Posted on October 18, 2023 by Diligentia News in OilGas.Institutional traders are dropping their oil positions as the outlook for the commodity—and the global economy—becomes marred in even more uncertainty. There has also probably been some profit-taking among hedge funds and other large oil futures market players after oil prices surged above $90 following the latest OPEC meeting earlier this month. The profit-taking started […]
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Israel-Hamas conflict: India’s hope of respite in oil prices dashed
Posted on October 18, 2023 by Diligentia News in OilGas.Since Hamas’ invasion of southern Israel on October 7, petroleum has become costlier by around $5 per barrel, threatening to stoke prices and impact growth Brent crude was trading at $89.8 per barrel on October 9 (9.15 pm IST), up over 4 per cent, thwarting India’s anticipation of a period of declining oil prices — […]
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Cross-border energy pipeline to bolster ties with India
Posted on October 18, 2023 by Diligentia News in OilGas.India and Bangladesh have a long history of cooperation in various sectors, including energy. Over the years, both countries have recognized the importance of energy cooperation for economic and social development. In the next few years, India and Bangladesh are expected to deepen their energy cooperation. In the face of global energy market volatility, the […]
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OMCs to prepare joint roadmap on green hydrogen push, to tap cleaner fuel
Posted on October 18, 2023 by Diligentia News in OilGas.Oil-marketing companies (OMCs) may soon submit a joint road map for the adoption of green hydrogen to accelerate their energy transition plans, officials said. The Ministry of Petroleum and Natural Gas Ministry has asked OMCs to submit a detailed plan to increasingly adopt green hydrogen and provide a leg-up to their energy transition plans, the […]
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India’s LPG consumption peaks in September, diesel declines: PPAC
Posted on October 18, 2023 by Diligentia News in OilGas.India’s relationship with petroleum products is seeing some noteworthy shifts. In the latest report rolled out by the Planning & Analysis Cell (PPAC), data from April to September 2023 showcases some interesting ups and downs in consumption patterns. Taking center stage, LPG has emerged as a dominant fuel with its consumption touching 2551 thousand metric […]
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Petrol, diesel sales fall ahead of start of festive season
Posted on October 17, 2023 by Diligentia News in OilGas.Petrol and diesel sales fell in the first half of October ahead of the start of festival season that is expected to boost consumption, preliminary data of state-owned firms showed. Last year, Durga Puja/Dussehra as well as Diwali fell in October. This year the festival season, when consumption picks up, starts in the second half […]
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