Category Archives: OilGas
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As sanctions bite, these ‘obscure’ new players are shipping half of Russia’s oil to India & China
Posted on July 28, 2023 by Diligentia News in OilGas.With Russia facing crippling sanctions from the West, dozens of new middlemen, including companies without prior records, have been handling the trading of Russian oil to countries like India and China At least 40 such middlemen handled Russian oil trading between March and June, according to a Reuters tally. The new players have shipped at […]
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GAIL scouts for LNG sources, plans to grow long-term volumes by 50
Posted on July 28, 2023 by Diligentia News in OilGas.GAIL is planning to tie up 7-8 million tonnes per annum of long-term liquefied natural gas (LNG) from diverse sources as it bets big on domestic gas demand and aims to play a leading role in India’s transformation into a gas-based economy, its chairman has said. “GAIL is committed to ensuring that the domestic demand […]
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Oil Prices Tick Higher On Optimistic Economic Forecasts
Posted on July 26, 2023 by Diligentia News in OilGas.Oil prices saw another rise on Tuesday morning on optimistic forecasts published by the International Monetary Fund (IMF). On Tuesday, the IMF raised its 2023 global growth estimates based on promising economic activity in Q1. For 2023, the IMF is now estimating a 3% GDP growth—up 0.2 percentage points from its forecast published in April. […]
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TotalEnergies Boosts Its Renewables Business With $1.66 Billion Deal
Posted on July 25, 2023 by Diligentia News in OilGas.TotalEnergies is buying out all remaining shares in renewable energy developer Total Eren for $1.66 billion, thus raising its stake in the firm to 100% from 30%, the French supermajor said on Tuesday. The acquisition of the 70.8% stake in Total Eren that Total Energies did not already own is part of the energy giant’s […]
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India may feel oil pinch as Russia looks to lower crude discount to $20/bbl
Posted on July 25, 2023 by Diligentia News in OilGas.The finance ministry of Russia is planning to cut the discount to $20 per barrel from $25 that it presently uses to decide taxes on the country’s crude oil exports, Reuters reported citing the Finance Minister Anton Siluanov on Tuesday. The Kremlin had to change the way it taxes oil sales due to several factors […]
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The EU Has No Plans To Revise Its Russian Oil Price Cap
Posted on July 25, 2023 by Diligentia News in OilGas.The European Union has no plans to revise the $60 price cap imposed on Russian oil exports even though Russian crude is selling above the cap. “There is no movement currently in the Council [of the European Union] with the oil price cap,” an unnamed diplomat from the Baltics told Energy Intelligence. The news outlet […]
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Subsidy On Petroleum
Posted on July 25, 2023 by Diligentia News in OilGas.Government is committed to ensure access to affordable and clean energy to all. It has been endeavour of the Government to encourage usage of cleaner fuels like Compressed Natural Gas (CNG)/Piped Natural Gas (PNG), Liquefied Petroleum Gas (LPG), Compressed Bio Gas (CBG), BS IV Grade Petrol and Diesel, Ethanol Blended Petrol, Sustainable Aviation Fuel etc. […]
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U.S. Shale Slowdown Weighs On Oilfield Services
Posted on July 25, 2023 by Diligentia News in OilGas.The first signs of a slowdown in activity in the U.S. shale patch emerged earlier this year as declining oil prices prompted drillers to reduce the number of active rigs. Then data suggested that well yields were also dropping—a sign of potential natural depletion that would make drillers think twice before going all in on […]
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RIL, BP ramp up KG-D6 gas output
Posted on July 25, 2023 by Diligentia News in OilGas.Indian private-sector refiner Reliance Industries (RIL) and BP have raised gas output from “difficult fields” located in the KG basin off India’s east coast during April-June. RIL and BP ramped up production from the fields to 20.9mn m³/d of gas, as the two companies commissioned the MJ field during the period, RIL said in its […]
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Goldman Sachs Sees Oil Prices Rising On Record Demand
Posted on July 24, 2023 by Diligentia News in OilGas.Oil prices are set to rise to $86 per barrel at year-end, from $80 now, as record-high oil demand and lowered supply will lead to a large market deficit. “We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an […]
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