Category Archives: OilGas
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At What Level Will Saudi Arabia And Russia Stop Pushing Oil Prices Higher?
Posted on September 12, 2023 by Diligentia News in OilGas.The decisions last week by Saudi Arabia to continue its 1 million barrel per day (bpd) production cut to the end of this year and by Russia to extend its 300,000 barrels per day export cut for the same period conspired to push oil prices to their highest level since last November. This in turn […]
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Indian government collects Rs 26.42 billion in dividends from IOCL and BPCL
Posted on September 12, 2023 by Diligentia News in OilGas.The Indian government on Monday (September 11) said it has received Rs 26.42 billion as dividend tranches from two central public sector enterprises, namely Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL). “(The government has respectively received about Rs 21.82 billion and Rs 4.60 billion from IOCL and BPCL as dividend tranches,” […]
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IOCL’s Panipat plant to reach 100 percent utilisation soon
Posted on September 12, 2023 by Diligentia News in OilGas.Indian Oil Corporation’s (IOCL) 2G ethanol plant is set to reach 100 percent capacity utilisation in a few months, from the current 30 percent. The Rs 900-crore plant is expected to reach full capacity shortly, as the feedstock collection process has been initiated. The plant will need 1,50,000 tonne of feedstock every year. Also, part […]
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Why India must speed up efforts to support Green Hydrogen Economy
Posted on September 12, 2023 by Diligentia News in OilGas.In an era where sustainability has taken center stage, the global race towards a greener energy future has intensified, with nations vying for a dominant stake in the energy landscape. Central to this endeavor is green hydrogen, a bridge to achieving ambitious global decarbonization targets. India, with its growing commitment to renewable energy, is at […]
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GAIL India poised for sustained outperformance with multiple growth drivers
Posted on September 12, 2023 by Diligentia News in OilGas.GAIL (India) Ltd, the country’s largest gas distributor, appears set for a period of sustained outperformance over the next 2-3 years, driven by multiple favorable factors, according to a report by ICICI Securities. The company’s strong performance is expected to be underpinned by growing domestic gas supplies, LNG liquefaction capacity, moderate pricing, normalisation of LPG […]
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Supply Cuts Boost Oil Prices But Economic Concerns Limit Gains
Posted on September 8, 2023 by Diligentia News in OilGas.A slew of bullish and bearish factors have battled for dominance in the oil market this year as OPEC+ efforts to tighten the market have run up against concerns about global economic growth. For most of the first half of this year, prices were trading in a relatively narrow range of $70-$80 per barrel until […]
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Diesel consumption declines for third month in a row in August; petrol usage up
Posted on September 8, 2023 by Diligentia News in OilGas.India’s diesel consumption, the mainstay of the country’s transport sector, fell 3 per cent m-o-m to 6.7 million tonnes (mt) in August 2023 as rains, particularly in eastern India, impacted mobility. Lower demand from the farm sector to some extent also led to the decline. However, high-speed diesel (HSD) usage in the country was higher […]
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Adani Total Gas to build 500-TPD CBG plant for Ahmedabad Municipal Corporation
Posted on September 8, 2023 by Diligentia News in OilGas.Adani Total Gas has received a work order from Ahmedabad Municipal Corporation (AMC) to design, build, finance, and operate a 500-tonnes-per-day capacity Bio-CNG (CBG) plant, the company informed the regulatory exchanges on September 6. The plant will be operated by Adani Total Gas for a concession period of 20 years. The plant is based on […]
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GAIL India expects to source 20-25% of LNG on short-term or spot basis
Posted on September 8, 2023 by Diligentia News in OilGas.GAIL (India) Ltd, the state-run natural gas distributor, expects to secure about 20% to 25% of its supply of liquefied natural gas (LNG) on a short-term or spot market basis, Reuters reported quoting a company official. The rest of the LNG will be via long-term contracts, GAIL’s marketing director, Sanjay Kumar said at the Gastech […]
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ADNOC Gas, PetroChina sign $550 million LNG deal
Posted on September 8, 2023 by Diligentia News in OilGas.ADNOC Gas has announced an agreement, valued between $450 million and $550 million to supply Liquefied Natural Gas (LNG) to PetroChina, one of the leading oil and gas producers and distributors in China. This agreement, according to ADNOC, underscores its growing global presence, particularly in the East and South Asian markets. Competition for LNG has […]
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