Category Archives: OilGas
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Russia Is Losing The Energy Battle
Posted on July 24, 2023 by Diligentia News in OilGas.“Russia has lost the energy battle,” Fatih Birol, Executive Director of the International Energy Agency (IEA), told French newspaper Liberation in March, a year after Russia invaded Ukraine. In the year and a half since Putin ordered troops into Ukraine and cut off natural gas supply via pipeline to many EU customers, Europe has managed […]
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VOC Port allots land to ACME for green hydrogen plant
Posted on July 24, 2023 by Diligentia News in OilGas.V O Chidambaranar Port Authority, the state-owned entity that runs the port at Thoothukudi in Tamil Nadu, has issued a letter of intent to ACME Cleantech Solutions Pvt Ltd to lease 222.79 acres of port land for setting up a green hydrogen and green ammonia project with an investment of Rs 52,474 billion. V O […]
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Pakistan to import 100,000 tonnes of Russian oil every month
Posted on July 24, 2023 by Diligentia News in OilGas.In a bid to ensure cheap energy in the country, the government will import 100,000 tons of Russian crude oil every month. The Minister of State for Petroleum, Dr Musadik Malik, while talking to reporters here on Saturday said that the government is making all-out efforts to ensure the supply of cheap energy in the […]
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Domestic crude oil production at 2.4 MMT in June, import bill declines to $9.5 billion YoY: PPAC
Posted on July 24, 2023 by Diligentia News in OilGas.India produced a total of 2.43 million metric tonnes (MMT) of crude oil in June 2023, compared to the same level of 2.4 MMT reported in the year-ago period, according to Petroleum Planning & Analysis Cell (PPAC). Out of 2.5 MMT, Oil and Natural Gas Corporation (ONGC) produced 1.6 MMT of crude oil while Oil […]
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Russia is not ruling out quotas on fuel exports, deputy PM says
Posted on July 21, 2023 by Diligentia News in OilGas.In a bid to stabilise global gasoline (petrol) prices, Russia may consider introducing quotas on the export of oil products, news agency Reuters quoted Russian Deputy Prime Minister Alexander Novak as saying on Friday. Gasoline wholesale prices are currently at an all-time high amid risk-on sentiment in broader markets and signs that Russia is making […]
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Oil Prices Set For Fourth Consecutive Weekly Gain As Supply Tightens
Posted on July 21, 2023 by Diligentia News in OilGas.Oil prices were up slightly in Asian trading early on Friday and set for a small weekly gain, the fourth in a row, as the market is starting to see signs of tightening supply. WTI Crude was up by 0.91% at 76.34 in Asian trading, while the international benchmark, Brent Crude, traded 0.88% higher at […]
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After outlier record high global diesel cracks in 2022, margins plunge
Posted on July 21, 2023 by Diligentia News in OilGas.Russia’s invasion of Ukraine in February last year pushed diesel and petrol cracks to record in the following quarter, giving oil refiners globally unprecedented profits but they have crashed this year, denting refiners’ profits. A crash in global cracks in April-June this year will shrink profits of refiners when compared with the outlier period of […]
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Crude oil boosted as EIA forecasts price rise in H2
Posted on July 21, 2023 by Diligentia News in OilGas.Crude oil futures traded marginally higher on Thursday morning as the US Energy Information Administration (EIA) estimated an increase in crude oil prices through 2024. At 9.53 am on Thursday, September Brent oil futures were at $79.53, up by 0.09 per cent, and September crude oil futures on West Texas Intermediate (WTI) were at $75.38, […]
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India’s oil & gas import bill contracts 33% y-o-y in April-June quarter as prices drop
Posted on July 21, 2023 by Diligentia News in OilGas.India’s oil and gas import bill contracted by a third from a year earlier to $35 billion in the April-June quarter as prices sharply dropped, as per the oil ministry data. Crude oil worth $31.4 billion was imported during the April-June period, lower than $48.1 billion in the same period last year. The volume of […]
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HPCL setting up green hydrogen plant in Andhra: MoS Rameswar Teli
Posted on July 21, 2023 by Diligentia News in OilGas.State-owned Hindustan Petroleum Corporation Limited (HPCL) is setting up a 370-tonne-per-annum electrolyzer-based green hydrogen plant at Visakh Refinery in Andhra Pradesh, Union Minister of State (MoS) for petroleum and natural gas Rameswar Teli informed Parliament on Thursday In a written reply to a question in Lok Sabha, the minister said the state-owned entity spent INR […]
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