Category Archives: OilGas
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National Gas Grid: 68 Per Cent Work Complete, All States Likely To Get Connected By 2026
Posted on July 21, 2023 by Diligentia News in OilGas.A total of 23,173 kilometre of natural gas pipelines, including spur lines, are operational in the country and another 12,206 kilometre length of pipeline is under various stages of construction. This information was provided by Union Minister for Petroleum and Natural gas, Hardeep Singh Puri, while replying to a question in Lok Sabha on 20 […]
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China Snaps Up Record-High Volumes Of Russian Crude In The First Half Of 2023
Posted on July 20, 2023 by Diligentia News in OilGas.Despite an apparent weakness in its economy, China is importing record volumes of oil and is buying record amounts of Russian crude to add to stockpiles. During the first half of 2023, Chinese imports of Russian crude oil averaged 2.13 million barrels per day (bpd), which helped Russia oust its OPEC+ partner Saudi Arabia from […]
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Has India’s appetite for Russian oil peaked? What latest data shows
Posted on July 20, 2023 by Diligentia News in OilGas.India’s imports of oil from Russia rose to an all-time high in June. However, the growth in import was the slowest pace since October 2022 This is being seen as a signal that India’s appetite for Russian oil may have peaked, Reuters reported citing tanker data. Indian refiners have been buying Russian oil heavily ever […]
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GAIL, LanzaTech Enter Strategic Partnership to Explore Biorecycling Carbon Waste into Fuels and Chemicals
Posted on July 20, 2023 by Diligentia News in OilGas.GAIL (India) Limited, India’s largest natural gas company and LanzaTech Global, Inc., USA, an innovative carbon capture and utilization (“CCU”) company that converts waste carbon into products that people use in their daily lives, have entered a partnership to explore innovative technology solutions that advance GAIL’s Net Zero 2040 goals and have the potential to […]
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Amid supply concerns, Indian crude basket rises 4% in July
Posted on July 20, 2023 by Diligentia News in OilGas.The Indian crude oil basket which was largely subdued in May and June has witnessed over 4% increase in its average price in July amid global supply concerns. The average Indian crude basket for July stands at $78.22 per barrel, compared to $74.93 a barrel in June. In May, it averaged at $74.98 a barrel […]
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Energy storage, offshore wind, Green Hydrogen define govt’s renewable energy strategy: MNRE Joint Secy Jagdale
Posted on July 19, 2023 by Diligentia News in OilGas.In order to boost and support India’s renewable energy sector going forward, the government is working on a multi-pronged strategy that focus on energy storage, offshore wind and Green Hydrogen simultaneously, according to Dinesh Jagdale, Joint Secretary, Ministry of New and Renewable Energy (MNRE). Speaking at the US-India Energy Summit here, Jagdale said MNRE has […]
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Netherlands was top destination for US LNG supplies in May
Posted on July 19, 2023 by Diligentia News in OilGas.The Netherlands was the top destination for US LNG exports in May, according to the Department of Energy’s newest LNG monthly report. The report shows that US terminals shipped 64.5 Bcf of LNG to the Netherlands in May, 51.7 Bcf to France, 31.2 Bcf to Japan, 26.9 Bcf to Argentina, and 25.2 Bcf to the […]
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India’s Vedanta to Sink Billions into Oil and Gas, Commodities: Report
Posted on July 19, 2023 by Diligentia News in OilGas.India’s largest private producer of crude oil Vedanta plans to invest billions of dollars into the oil and gas sector and its commodities-related business, according to a report by S&P Global Commodity Insights, citing company chairman Anil Agarwal. Agarwal said that the changing energy landscape will increase demand for oil and gas, as well as […]
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Uncertainty In Oil Markets As Fundamentals Counter Economic Concerns
Posted on July 19, 2023 by Diligentia News in OilGas.Oil prices dropped in Asian trading early on Wednesday before bouncing back slightly as market participants continue to weigh tightening supply and China’s fresh stimulus pledge against concerns of slowing developed economies amid rate hikes. In Asian trade on Wednesday, the U.S. benchmark WTI Crude was down by 0.13% to $75.65. The international benchmark, Brent […]
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ADNOC Signs LNG Deal With Indian Oil Major Worth Up To $9 Billion
Posted on July 19, 2023 by Diligentia News in OilGas.ADNOC Gas has signed a long-term agreement to supply liquefied natural gas to Indian Oil Corporation, in a deal worth between $7 billion and $9 billion. Under the terms of the agreement, ADNOC Gas, the integrated gas unit of Abu Dhabi National Oil Company (ADNOC), will export up to 1.2 million metric tonnes per annum […]
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