Category Archives: OilGas
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Turkmenistan’s Natural Gas Boom Sparks European Interest
Posted on September 19, 2023 by Diligentia News in OilGas.Turkmenistan’s huge gas reserves have been generating considerable interest from potential importers following Ashgabat’s announcement in late July that it is open to the development of a pipeline to carry its gas across the Caspian and on to Europe. Most significant so far has been the interest shown by Hungary, which on August 20 signed […]
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Evading primary responsibility, ONGC decides to invest Rs 150 billion in sick subsidiary
Posted on September 19, 2023 by Diligentia News in OilGas.It is reported that Oil and Natural Gas Corporation (ONGC) will infuse about Rs 150 billion in ONGC Petro-additions Ltd (OPaL) as part of a financial restructuring exercise. ONGC currently holds 49.36 per cent stake in (OPaL), which operates a mega petrochemical plant at Dahej in Gujarat. GAIL (India) Ltd has 49.21 per cent interest […]
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Italy’s Eni looks to sell LNG in Southeast Asia, may introduce US LNG into portfolio
Posted on September 19, 2023 by Diligentia News in OilGas.Italy’s Eni is looking to sell LNG into Southeast Asia to tap new emerging buyers and it may also consider introducing more US LNG into its portfolio to diversify its volumes, Cristian Signoretto, deputy chief operating officer natural resources and director global gas & LNG portfolio, told S&P Global Commodity Insights in an interview. There […]
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Diesel sales fall in September amid rains, petrol consumption up in India
Posted on September 18, 2023 by Diligentia News in OilGas.Diesel sales in India fell for the second straight month in September as rains dampened demand and slowed industrial activity in some parts of the country, preliminary data of state-owned firms showed. While diesel sales by three state-owned fuel retailers fell year-on-year in the first half of September, petrol sales were up marginally. Consumption of […]
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Rajasthan CM Approves Draft Of Green Hydrogen Policy
Posted on September 18, 2023 by Diligentia News in OilGas.The state government has announced “Rajasthan Green Hydrogen Policy-2023”, keeping in view clean energy production, future energy needs, and climate change. Chief minister Ashok Gehlot has approved the policy draft and the notification will be issued soon by the energy department, said a government statement on Saturday. Under this policy, companies producing green energy in […]
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India raises windfall tax on petroleum crude to Rs 10,000/tonne
Posted on September 18, 2023 by Diligentia News in OilGas.India’s government has increased the windfall tax on petroleum crude to Rs 10,000 per tonne from 6,700 rupees per tonne, according to a government notification on Friday. The increase will come into effect from Sept. 16. The government has cut the windfall tax on aviation turbine fuel to 3.50 rupees per litre from 4 rupees […]
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Gas migration case: What exactly is the dispute between Reliance and ONGC?
Posted on September 15, 2023 by Diligentia News in OilGas.A division bench of the Delhi High Court on Thursday sought a response from Reliance Industries Ltd. (RIL) and its partners on the government’s appeal that accused the Mukesh Ambani-owned conglomerate and its partners of committing an “insidious fraud” and “unjust enrichment of over $1.729 billion” by siphoning gas from deposits they had no right […]
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Air Fares Poised To Skyrocket As EU Adopts Green Fuels For Aviation
Posted on September 15, 2023 by Diligentia News in OilGas.Back in 2008, Virgin Atlantic made history after flying a Boeing 747 between London and Amsterdam partly powered by a biofuel made from Brazilian babassu nuts and coconuts. Although Virgin Atlantic founder Sir Richard Branson hailed the event as a “vital breakthrough”, many people dismissed it as just another one of his marketing stunts. And […]
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The 5 South American Countries With The Largest Natural Gas Reserves
Posted on September 15, 2023 by Diligentia News in OilGas.South America is fast emerging, once again, as one of the world’s hottest drilling locations, with the continent believed to contain considerable volumes of commercially extractable natural gas. While offshore Guyana is garnering the lion’s share of attention from foreign energy companies, it isn’t the only country in South America benefiting from significant hydrocarbon wealth. […]
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Indian oil firms explore using stranded $600 million to buy Russian oil
Posted on September 14, 2023 by Diligentia News in OilGas.Indian oil companies are exploring the possibility of using close to $600 million of their dividend income stranded in Russia to buy oil from that country, officials said on Thursday. India’s top four oil companies — Indian Oil Corporation (IOC), a unit of Bharat Petroleum Corporation Ltd, Oil India Ltd and ONGC Videsh Ltd — […]
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