Category Archives: OilGas
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Why Oil Could Top $100 In Q4 2023
Posted on September 14, 2023 by Diligentia News in OilGas.Oil prices have soared to a 10-month high on Wednesday, with a surprise build in U.S. crude inventories failing to dampen expectations of tight supplies for the rest of the year. Front-month November Brent crude closed +1.5% at $92.06/bbl, its best settlement since November 16 while U.S. front-month Nymex crude for October delivery settled +1.8% […]
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China’s LNG Buying Spree Threatens Global Gas Market Stability
Posted on September 14, 2023 by Diligentia News in OilGas.China is back on the spot LNG market to seek cargoes for the coming winter, potentially upsetting a fragile balance in the global natural gas market just as Europe has reached its gas storage target well ahead of the November 1 deadline. Following a record slump in Chinese gas demand and LNG imports last year […]
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India, Saudi Arabia to expedite IOC refinery plan
Posted on September 14, 2023 by Diligentia News in OilGas.India and Saudi Arabia have agreed to accelerate Indian state-controlled refiner IOC’s 1.2mn b/d West Coast Refinery project. India and Saudi Arabia issued a joint statement during the visit of Saudi crown prince Mohammad bin Salman to India last week, following his meeting with Indian prime minister Narendra Modi. The deal was followed by the […]
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PESB picks Alok Sharma for Indian Oil’s Director (R&D) post
Posted on September 14, 2023 by Diligentia News in OilGas.Alok Sharma is set to be next Director (Research & Development) of Indian Oil Corporation Limited (IOCL), a Maharatna oil marketing PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He has been recommended for the post by the Public Enterprises Selection Board Panel (PESB) on Tuesday. Presently, he is serving as Executive Director […]
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US races ahead of Qatar as top LNG exporter
Posted on September 14, 2023 by Diligentia News in OilGas.The United States took the lead as the world’s top exporter of liquefied natural gas (LNG) in the first half of 2023, outpacing all other contenders, including Qatar, according to a recent report from the US Energy Information Administration. While the United States has long vied with Qatar for the title of the world’s leading […]
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Russia’s Novatek: Arctic LNG 2’s first line to reach full capacity in Q1 2024 – RIA
Posted on September 14, 2023 by Diligentia News in OilGas.The head of Russia’s largest liquefied natural gas producer, Novatek NVTK.MM, said on Tuesday that Arctic LNG 2’s first line would reach full capacity of 6 million tons in the first quarter of 2024, RIA news agency reported. Russia is seeking to increase production of sea-borne LNG, which could be delivered around the world, as […]
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Germany snapping up Indian fuels amid Russia sanctions: data
Posted on September 13, 2023 by Diligentia News in OilGas.German imports of refined oil products from India soared in the first seven months of the year, official data showed Tuesday, much of which was likely made using crude oil from sanctions-hit Russia. Germany bought 451 million euros’ ($480 million) worth of Indian petroleum products between January and July. That was an increase of more […]
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Party has ended for oil marketers as high oil prices squeeze margins, say analysts
Posted on September 13, 2023 by Diligentia News in OilGas.Oil marketing companies find themselves in a spot as oil prices have trended higher over the past few weeks, with little prospect of raising retail prices in the medium term, at least until the general elections next year. Higher oil prices and higher cracks, which have led to under-recovery, point to a tough second half […]
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Indian Oil Corp seeks LNG cargo for end-Oct delivery
Posted on September 13, 2023 by Diligentia News in OilGas.Indian Oil Corp (IOC) has issued a tender seeking a cargo of liquefied natural gas (LNG) to be delivered to the Dahej terminal at end-October, according to two industry sources. The state-run firm is seeking the cargo for delivery on Oct. 30, and the tender closes on Sept. 12. Bangladesh To Import Two LNG Cargoes […]
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G20 New Trade Corridor Promises Enhanced Energy Security
Posted on September 12, 2023 by Diligentia News in OilGas.At the G20 summit in India this weekend, the U.S., India, Saudi Arabia and the UEA announced a new trade route that intends to connect India to the Middle East and Europe, with ports and rail, in a direct challenge to China’s Belt and Road ambitions. The proposed trade route–dubbed by U.S. President Joe Biden […]
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