Category Archives: OilGas
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Domestic natural gas prices hiked 5% to $7.85/MMBtu for August
Posted on August 2, 2023 by Diligentia News in OilGas.Domestic natural gas price hike in India: The government on Monday hiked the price of domestic natural gas to $7.85 per metric million British thermal units (MMBtu) for August from $7.48 per MMBtu for the previous month. According to a notification by the Petroleum Planning and Analysis Cell, the gas produced from the nomination fields […]
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Petronet LNG raises operating rates in Apr-Jun
Posted on August 2, 2023 by Diligentia News in OilGas.Indian state-controlled importer Petronet LNG raised operating rates at its 17.5mn t/yr Dahej terminal to more than 96pc in the April-June quarter because of lower LNG prices, The rise comes after the facility — India’s largest LNG import terminal — operated at around 76pc during January-March, and at 87pc in April-June 2022, chief executive Akshay […]
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Big Oil Continues To Be Pushed Toward Greener Endeavors
Posted on August 1, 2023 by Diligentia News in OilGas.Last year, Big Oil made record profits that got stuck in the throats of governments, activist organizations, and international bodies such as the UN and the IEA. Yet those same governments practically encouraged these profits by subsidizing fuels to avoid even higher inflation and all the problems that such a development would have produced. In […]
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Modi’s Oil Strategy: Is India Rethinking Its Russian Crude Imports?
Posted on August 1, 2023 by Diligentia News in OilGas.Following several months of increased imports of Russian crude by India, the trend may finally begin to wane as it stockpiles enough to meet the country’s demand. India has favoured Russian crude in recent months due to its discounted prices, making its oil much cheaper than Middle Eastern alternatives. But moving out of peak season, […]
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Pakistan Is Being Priced Out Of The LNG Market Again
Posted on August 1, 2023 by Diligentia News in OilGas.Pakistan has dropped plans to procure LNG cargos for next year after its tender only attracted two offers that featured a 30% premium to market prices. Per a Bloomberg report that cited unnamed traders in the know, the offers had come from Trafigura and the delivery dates had been in January and February 2024. This […]
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Centre increases windfall tax on crude to Rs 4250 per tonne
Posted on August 1, 2023 by Diligentia News in OilGas.The centre on Monday increased windfall tax on domestically produced crude petroleum to Rs 4250 per tonne from existing Rs 1,600 per tonne. It has also increased duty on export of diesel to Rs one per litre from Nil. The new rates will be effective August 1. Share This
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Saudi Arabia Is Cooking Up A Surprise For The Oil Markets
Posted on August 1, 2023 by Diligentia News in OilGas.Recent production cuts by Saudi Arabia are beginning to take a toll on the nation’s economy, according to the IMF’s latest World Economic Outlook. The Kingdom’s 2023 GDP growth projections have been significantly reduced, now expected to reach only 1.9%, down from the previously projected 3.1% in May. The IMF attributed this downgrade to the […]
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Duliajan Numaligarh Pipeline Limited proposes 500km natural gas pipeline in northeast
Posted on August 1, 2023 by Diligentia News in OilGas.Two major pipeline projects are in the works in the northeast, which produce 20 per cent of the country’s natural gas output of 75 million metric standard cubic metres per day(mmscmd). Assam, Arunachal Pradesh and Tripura have established gas production potential in the region, while Manipur and Nagaland are believed to have substantial reserves. Duliajan […]
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Qatar’s quest to becoming the world’s most secure gas energy source
Posted on August 1, 2023 by Diligentia News in OilGas.Energy security and liquified natural gas (LNG) have dominated headlines over the last year. Among the discussions stands a large, yet geographically small, player — Qatar. The Gulf state has been at the centre of energy discussions, particularly during the onset of Russia’s invasion of Ukraine, as Europe scrambled to seek an alternative to its […]
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GAIL India misses Q1 profit view as natural gas marketing drags
Posted on August 1, 2023 by Diligentia News in OilGas.GAIL (India) Ltd (GAIL.NS), the country’s largest gas distributor, reported a lower-than-expected quarterly profit on Monday hurt by weak performance at its core natural gas marketing segment. The company’s standalone profit after tax fell to 14.12 billion rupees ($171.67 million) in the quarter ended June 30, from 29.15 billion rupees a year earlier. Analysts, on […]
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