Category Archives: OilGas
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Osaka Gas, Sumitomo Near Deal for Think Gas Stake, Sources Say
Posted on August 11, 2023 by Diligentia News in OilGas.Osaka Gas Co. and Sumitomo Corp. are nearing a deal to buy about a 30% stake in Think Gas Distribution Pvt. that could value the Indian natural gas supplier at as much as $1.5 billion, according to people familiar with the matter The consortium of Japanese firms may reach an agreement with Think Gas’s backer […]
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India Will Continue To Buy Russian Oil Even As Prices Climb
Posted on August 11, 2023 by Diligentia News in OilGas.India continues to buy a lot of Russian oil despite a significant narrowing in its discount to Brent, Bloomberg has reported, citing sources from local refiners. In early August, the price of Russia’s flagship Urals blend delivered to the west coast of India hit $81 per barrel. Just a month earlier that price was around […]
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India aims to triple natural gas share to 15% by 2030: Minister
Posted on August 11, 2023 by Diligentia News in OilGas.India has embarked on an ambitious trajectory to amplify its existing 6% share of natural gas in the energy amalgam to a formidable 15% by 2030, as the government presses forward with a suite of comprehensive measures, said minister of state in the ministry of petroleum & natural gas, Rameswar Teli. In a written reply […]
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ADNOC Gas invests $3.6bn to boost gas processing capabilities
Posted on August 10, 2023 by Diligentia News in OilGas.UAE’s ADNOC Gas has invested $3.6bn (Dhs13.1bn) to boost its gas processing capabilities as the company looks to expand its production capacity in the UAE. The investment is aimed at providing sufficient energy to the country’s growing industrial sector while stimulating economic growth and diversification through the In-Country Value (ICV) generated by the contract. The […]
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New Research Could Make Shale Oil Production Cheaper
Posted on August 8, 2023 by Diligentia News in OilGas.The U.S. shale revolution has dramatically reshaped the world energy markets. The shale boom was one of the most impressive growth stories, from take off in 2008 to the Permian stealing the mantle from Saudi Arabia’s Ghawar as the world’s highest-producing oilfield in a little over a decade. Different methods of chemical enhanced oil recovery […]
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Reliance moving ahead on renewable energy commitments
Posted on August 8, 2023 by Diligentia News in OilGas.Reliance Industries has outlined in its annual report for FY23 the potential that India will be the first country in the world to produce green hydrogen at less than $1 per kg in the next decade. Terming it “The Green Hydrogen Aspirations”, the company that is a now diversified conglomerate with a presence in a […]
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India’s petroleum products consumption grows at 10 per cent
Posted on August 8, 2023 by Diligentia News in OilGas.The country’s consumption of petroleum products during FY2022-23 grew 10% compared to the previous fiscal year, reaching a volume of about 223 million tonne, said minister of state for petroleum & natural gas, Rameswar Teli. In a written reply in the Rajya Sabha, Teli said the growth was led by a 13% increase in petrol […]
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Indian Gas Exchange Records Increase in Gas Volumes Traded
Posted on August 8, 2023 by Diligentia News in OilGas.Indian Gas Exchange (IGX) reported a significant increase in gas volumes traded on its platform in July. The company traded 27,23,350 million British thermal unit (mBtu), equivalent to around 68 million metric standard cubic meters (mmscm). This represents a 28% sequential increase and a 20% year-on-year increase. The surge in volumes can be attributed to […]
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Supply Concerns Keep Oil Prices Elevated
Posted on August 7, 2023 by Diligentia News in OilGas.Crude oil prices inched lower on Monday but remained elevated following a six-week winning streak. Supply concerns spiked when Ukrainian forces attacked two Russian oil tankers in the Black Sea over the weekend. “The Ukrainian naval drone attack on a Russian vessel over the weekend does make for some unease in a market already dealing […]
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Reliance plans crude unit maintenance at Jamnagar complex
Posted on August 7, 2023 by Diligentia News in OilGas.Reliance Industries Ltd plans to shut a crude unit and some secondary units at its 704,000 barrels per day (bpd) export focused plant for maintenance in September-October, three sources familiar with the plan said. Reliance is the operator of the world’s biggest refining complex which houses two plants with a combined capacity of about 1.4 […]
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