Category Archives: OilGas
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Natural Gas Stands To Win As Offshore Wind Takes A Hit
Posted on September 4, 2023 by Diligentia News in OilGas.While the total number of offshore wind projects, both existing and projected, continues to surge, the sector now grapples with typical economic and financial challenges. In recent weeks, offshore wind companies have sounded alarms about escalating product costs, manufacturing expenses, and price volatility, all of which are poised to significantly impact their ongoing and future […]
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LNG Market Grows More Mature, But Supply Risks Remain
Posted on September 4, 2023 by Diligentia News in OilGas.European gas prices spiked earlier this month as workers at three LNG facilities in Australia threatened industrial action. Strikes were avoided at one of the facilities, but the danger remained for the other two, keeping a floor under gas prices. But over the past year, attempts have been made to put a sort of a […]
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OPEC’s Crude Oil Production Rose Slightly In August: Survey
Posted on September 4, 2023 by Diligentia News in OilGas.Crude oil production from the OPEC alliance actually climbed in August by 40,000 bpd, according to a new survey published by Bloomberg on Friday. Saudi Arabia’s output may have fallen in August by 170,000 bpd, according to the survey, but Nigeria and Iran’s production increased, largely offsetting Saudi Arabia’s cuts. Overall, the group produced 27.82 […]
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After solar alliance, India makes case for biofuels grouping to support energy transition: PM Modi
Posted on September 4, 2023 by Diligentia News in OilGas.India’s proposal for a global alliance on biofuels among members of the Group of 20 major economies will help accelerate sustainable biofuels deployment in support of the global energy transition, Prime Minister Narendra Modi has said. The biofuels alliance, which the world’s third biggest oil consumer wants to push during its G20 presidency, mirrors the […]
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LPG price cut, Ujjwala expansion could cost over Rs 370 billion annually
Posted on September 4, 2023 by Diligentia News in OilGas.The government’s decision to slash domestic cooking gas prices by Rs 200 per 14.2-kg cylinder and expand the Pradhan Mantri Ujjwala Yojana (PMUY) by adding 7.5 million poor households to its beneficiary base could cost upwards of Rs 370 billion on an annualised basis, an analysis of liquefied petroleum gas (LPG) consumer base and average […]
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A potential hub for Green Hydrogen
Posted on September 4, 2023 by Diligentia News in OilGas.The global demand of over 100 MMT of Green Hydrogen and its derivatives like Green Ammonia is expected to emerge by 2030 of which India can potentially export about 10 MMT of Green Hydrogen/Green Ammonia per annum which will be about 10 per cent of the global market. India is expected to achieve Net Zero […]
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Govt cuts windfall tax on domestic crude, hikes levy on export of diesel, ATF
Posted on September 4, 2023 by Diligentia News in OilGas.The Government on Friday cut special additional excise duty (SAED) on crude petroleum to Rs 6,700 per tonne with effect from September 2. In the last fortnightly review on August 14, windfall tax on domestically Besides, SAED or duty on export of diesel will increase to Rs 6 per litre from Rs 5.50 per litre, […]
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Oil Prices On Course For A Weekly Gain Despite Economic Uncertainty
Posted on September 1, 2023 by Diligentia News in OilGas.After four days of gains, crude oil prices were on track to end their two-week losing streak as traders once again turned their attention from economic indicators to OPEC+ supply policy. Brent crude was trading above $86 per barrel at the time of writing and West Texas Intermediate was changing hands at close to $84 […]
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ONGC eyes 11pc rise in oil, gas output by 2026
Posted on September 1, 2023 by Diligentia News in OilGas.ONGC expects to produce 44.546mn t of oil equivalent of crude oil and natural gas by the April 2025-March 2026 fiscal year, up by 11pc from 2022-23. It sees oil output increasing to 20.23mn t (148.3mn b/d) by 2023-24 and 20.838mn t by 2025-26, from 19.584mn t in 2022-23. It expects natural gas output to […]
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Government Hikes Price Of Domestic Natural Gas For September
Posted on September 1, 2023 by Diligentia News in OilGas.The central government raised the price of domestic natural gas on Thursday to $8.60 per million metric British thermal units for September, from $7.85 per mmBtu in August. The gas produced from the nomination fields of Oil and Natural Gas Corp. and Oil India Ltd. will have a ceiling of $6.50/mmBtu, according to a notification […]
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