Category Archives: OilGas
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RIL’s biogas entry ticks all the boxes on green investment
Posted on August 31, 2023 by Diligentia News in OilGas.Reliance Industries Limited (RIL) Chairman and Managing Director Mukesh Ambani has made positive announcements on Monday for the biogas sector. The company plans to establish 100 Compressed Biogas (CBG) plants in the next five years, using 5.5 million metric tons of agro- and organic waste annually. The impact will be huge considering it will help […]
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Adani Total’s Dhamra LNG Terminal Will Achieve Peak Capacity By 2024, Says CEO
Posted on August 31, 2023 by Diligentia News in OilGas.Adani Total Ltd.’s Dhamra LNG Terminal is equipped to perform at peak capacity since it got commissioned, according to Chief Executive Officer Satinder Pal Singh. However, peak performance is contingent on sufficient sourcing and downstream evacuation by users, Singh told BQ Prime. “We expect the terminal to achieve full capacity around end of 2024, when […]
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Why the India-UAE deal to trade in local currencies matters
Posted on August 29, 2023 by Diligentia News in OilGas.With India and the UAE starting to settle bilateral trade in their respective currencies, the move is set to further strengthen economic relations between the two countries and could provide a significant boost to exports from Asia’s third-largest economy, analysts say. Last month, India signed an agreement with the UAE to allow it to settle […]
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Money Manager Sees $120 Oil Surprising Bears
Posted on August 25, 2023 by Diligentia News in OilGas.Crude oil prices could be on track to hit $100 and even $120 per barrel, which calls for aggressive buying moves into the oil market now, Cole Smead, president and portfolio manager at Smead Capital Management, told BBN Bloomberg on Wednesday. China’s underwhelming economic performance is as bad as it gets and still, oil prices […]
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India’s diesel shipments to Singapore reached record highs in August, while those to Europe decreased
Posted on August 25, 2023 by Diligentia News in OilGas.Due to lower freight costs and low inventory levels in the Asian oil hub, India’s diesel shipments to Singapore are expected to reach a 19-month high in August and surpass 330,000 metric tonnes, according to traders and experts. On the other hand, while shipments to the east are more profitable, the nation’s petroleum exports to […]
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PNGRB re-evaluating performance bank guarantee rule
Posted on August 25, 2023 by Diligentia News in OilGas.The Petroleum and Natural Gas Regulatory Board (PNGRB) is re-evaluating a rule on performance bank guarantees for city gas companies that has benefited the likes of Adani Gas, Indian Oil and GAIL. The current rule allows the downstream regulator to reduce the performance bank guarantees (PBG) required of city gas licensees to 40% of the […]
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GAIL eyes stake in US LNG projects
Posted on August 25, 2023 by Diligentia News in OilGas.GAIL is scouting for a stake in LNG (liquefied natural gas) projects in the US and long-term supply deals as the state-run utility expects gas transmission volumes to rise on the back of expanding pipeline network. The company also plans to spend Rs 300 billion in the next three years on expanding its pipelines, city […]
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Vedanta seeks minimum USD 9.5 for Rajasthan gas
Posted on August 23, 2023 by Diligentia News in OilGas.Billionaire Anil Agarwal’s Vedanta Ltd is seeking a minimum of USD 9.5 for the natural gas it produces from its Rajasthan block, according to a tender floated by the firm for the sale of the fuel. Vedanta sought bids from users for 0.6 million standard cubic meters per day of gas it plans to produce […]
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India’s July Russian oil imports dip; Saudi import down to 2-1/2-year low
Posted on August 23, 2023 by Diligentia News in OilGas.India’s July crude oil imports from Russia dipped for the first time in nine months, while inbound shipments from Saudi Arabia tumbled to their lowest in 2-1/2 years following OPEC+ cuts, tanker data from trade and industry sources showed. Both China and India, the world’s biggest and third-biggest oil importers, cut imports from Russia and […]
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Standard Chartered: All-Time-High Demand Will Push Oil To $100
Posted on August 21, 2023 by Diligentia News in OilGas.U.S. oil futures slipped below $81/bbl on Tuesday after weak economic data out of China prompted surprise interest rate cuts by the People’s Bank of China. China’s industrial production rose 3.7% in July compared to a year ago, well below the 4.4% increase analysts had predicted while real estate investment in July accelerated to a […]
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