Category Archives: OilGas
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Standard Chartered: Oil Markets Can Easily Absorb Extra OPEC+ Barrels
Posted on July 3, 2025 by Diligentia News in OilGas.Oil markets kicked off the new year in a downbeat mood, with Wall Street analysts almost unanimously predicting a huge oversupply in 2025 even if OPEC+ did not add a single barrel back into the market. Well, it’s six months on, and oil markets have continued to defy these bearish expectations. The eight OPEC+ countries […]
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Diesel days numbered? India eyes massive LNG truck expansion by 2040
Posted on July 3, 2025 by Diligentia News in OilGas.India’s liquefied natural gas (LNG) truck population is projected to grow from around 700 trucks in FY24 to nearly 2,00,000 by 2040 under the Petroleum and Natural Gas Regulatory Board’s (PNGRB) Good-to-Go (GtG) scenario and to 5,00,000 in a high-growth Good-to-Best (GtB) scenario. In contrast, China has already crossed 8,00,000 LNG trucks with a network […]
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Pakistan looking to sell excess LNG amid supply glut curbing local gas output – document
Posted on July 3, 2025 by Diligentia News in OilGas.Pakistan is exploring ways to sell excess liquefied natural gas (LNG) cargoes amid a gas supply glut that could cost domestic producers $378 million in annual losses, according to a presentation and a government official familiar with the matter. The country has at least three LNG cargoes in excess that it imported from top supplier […]
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India to lead global oil demand: S&P Global
Posted on July 2, 2025 by Diligentia News in OilGas.Even as long-term global oil demand is projected to decline due to alternative energy adoption and efficiency gains, India is expected to lead the global oil demand growth, as per S&P Global Commodity Insights. The growth in demand will, however, increase the country’s import dependency, reinforcing the need for a diversified crude sourcing strategy amid […]
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Petrol sales rise 6.4% in June; diesel up 1.2%
Posted on July 2, 2025 by Diligentia News in OilGas.Petrol sales increased 6.4% year-on-year in June, while diesel sales went up 1.2%, according to provisional data provided by the petroleum and natural gas ministry. Aviation turbine fuel (ATF) sales increased 3.6% year-on-year in June. The consumption of liquefied petroleum gas (LPG), used primarily for cooking, surged 10.2%. For the April-June quarter, petrol sales registered […]
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Crude oil prices back at $67/barrel, likely to remain stable: Minister Puri
Posted on July 2, 2025 by Diligentia News in OilGas.Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday said crude oil prices are back at USD 67 per barrel and are likely to remain around that level. Speaking at the 77th Foundation Day of the Institute of Chartered Accountants of India (ICAI), Puri also said India increased biofuel blending and is sourcing […]
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India plans new strategic oil reserve to enhance energy security
Posted on July 2, 2025 by Diligentia News in OilGas.India is exploring building three new strategic oil reserves to boost its emergency stockpile and strengthen energy security, the head of the company in charge of strategic reserves said on Wednesday. India, the world’s third-biggest oil importer and consumer, imports more than 80% of its oil needs and is constantly diversifying its crude sources to […]
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China Continues to Buy a Lot of Iranian Crude Oil
Posted on July 2, 2025 by Diligentia News in OilGas.Chinese refiners continue to buy high volumes of crude oil from Iran, with first-half imports at the major port clusters estimated at nearly 1.4 million barrels per day (bpd), according to oil flow tracking data from Kpler cited by Bloomberg. Ports near industrial clusters Qingdao, Dalian, and Zhoushan are importing crude from Iran in several […]
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ONGC in talks with Saudi Arabia on new refinery
Posted on July 1, 2025 by Diligentia News in OilGas.India’s state-owned Oil and Natural Gas Corporation (ONGC) is reportedly in talks with Saudi Arabia to develop a greenfield refinery in Gujarat, the home state of Indian Prime Minister Narendra Modi. The proposed coastal refinery will be set up in Jamnagar district through a joint venture company, an unnamed government official told moneycontrol.com, an Indian […]
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Commercial LPG cylinder price cut by Rs 58.50 from today, ATF price hiked
Posted on July 1, 2025 by Diligentia News in OilGas.Oil marketing companies have cut the price of 19 kg commercial LPG gas cylinders by Rs 58.50, effective 1 July. In Delhi, this brings the new price down to Rs 1,665 per cylinder. Meanwhile, price of jet fuel (ATF) was sharply increased by 7.5 per cent after three rounds of price cuts. Aviation turbine fuel […]
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