Category Archives: OilGas
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IndianOil GPS Renewables Partners To Setup Compressed Biogas Plant
Posted on October 6, 2023 by Diligentia News in OilGas.GPS Renewables, a Bengaluru-based biofuels technology Company, has entered into a strategic partnership with the Indian Oil Corporation (IOCL) to set up Compressed Biogas Plants (CBG Plants). Under the agreement, subject to approval from NITI Aayog and DIPAM, both entities would have a 50:50 equity stake in the proposed joint venture. GPS Renewables, through its […]
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Russia’s diesel export curbs can be a windfall for India
Posted on October 6, 2023 by Diligentia News in OilGas.The diesel export ban by Russia opened a unique opportunity for India to shore up export revenues in times of falling global merchandise trade and rising crude oil prices. The benefit may be felt in managing the current account deficit, which was 1.1 percent in June and was expected to be wider. The export of […]
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Hydrogen buses can pave the way for energy security in India’s heavy-duty mobility sector
Posted on October 6, 2023 by Diligentia News in OilGas.India aspires to be energy-independent by 2047, the centenary year of its freedom. This entails a promising multiple fuels policy and ambitious targets for electric vehicles as well as ethanol blending in petrol and biodiesel. The recent launch of hydrogen buses or Fuel Cell Electric Vehicles (FCEVs) by Union Minister Hardeep Singh Puri further strengthens […]
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Gas price drop to make industrial users shun dirtier fossil fuels, says Indian Gas Exchange head
Posted on October 6, 2023 by Diligentia News in OilGas.The head of India’s only gas trading platform is optimistic that the drop in prices this year will encourage industrial users in the country to switch from dirtier fossil fuels. Trading volumes on the Indian Gas Exchange are set to rise due to a greater availability of cheaper supplies, Chief Executive Officer Rajesh Kumar Mediratta […]
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Oil Prices Tumble As The EIA Reports A Significant Gasoline Build
Posted on October 6, 2023 by Diligentia News in OilGas.Crude oil prices continued to move lower despite the Energy Information Administration report that inventories had shed 2.2 million barrels in the week to September 29. This compared with a draw of the same size estimated for the previous week by the EIA. A day earlier, the American Petroleum Institute reported an estimated inventory decline […]
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Reliance Industries Presents Removable Energy Storage Battery
Posted on October 4, 2023 by Diligentia News in OilGas.India’s oil-to-telecoms conglomerate Reliance Industries presented on Wednesday a removable battery for energy storage that could be used for electric vehicles and for powering appliances via an inverter, company officials told Reuters. Reliance Industries, chaired by Indian billionaire Mukesh Ambani, has ambitious plans to grow in the ‘New Energy’ business with battery storage, renewable power […]
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Saudi Arabia And Russia Will Not Alter Voluntary Oil Supply Cuts
Posted on October 4, 2023 by Diligentia News in OilGas.Saudi Arabia and Russia, the key OPEC+ partners, will be keeping their oil supply cuts in November despite the recent crude oil price rally. Hours before a regular OPEC+ panel meeting, Saudi Arabia said early on Wednesday it would continue cutting an extra 1 million barrels per day (bpd) from its crude oil production in […]
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IndianOil to invest over Rs 26 billion to set up greenfield units, expand facilities in northeast
Posted on October 4, 2023 by Diligentia News in OilGas.Indian Oil Corporation Limited (IOCL) has firmed up plans to pump in over Rs 26 billion in setting up several greenfield units and expanding its facilities across the northeast over the next few years, a senior company official said. The board of Indian Oil has already approved various new projects, while some are in the […]
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No, crude prices are not headed for $150 a barrel
Posted on October 3, 2023 by Diligentia News in OilGas.Now that oil has hit $95 a barrel, analysts have started to forecast higher prices. Estimates go all the way up to $150 a barrel, as in the case of JP Morgan’s energy analysts. This is followed by sympathetic projections of the likely impact on India’s macro fundamentals. It’s time we put a lid on […]
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Rupee Rumble: India-Russia Oil Deals Remain in Currency Limbo
Posted on October 3, 2023 by Diligentia News in OilGas.Oil transactions between India and Russia are not currently being conducted in rupees because negotiations are continuing. This was stated by Pankaj Jain, the Secretary of the Ministry of Petroleum and Natural Gas of India, during discussions at the ADIPEC oil and gas exhibition. He said that This topic is now being discussed between the […]
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