Category Archives: OilGas
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India explores building liquefaction units in Iraq to convert flared gas into LNG
Posted on July 12, 2023 by Diligentia News in OilGas.India has initiated exploratory talks with Iraq to assess the possibility of building facilities to liquefy natural gas that is flared at the West Asian country’s oil and gas facilities, and transporting it as liquefied natural gas (LNG) to India, a senior government official said. The proposal came up during last month’s India-Iraq Joint Commission […]
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Insulating consumers from oil price gyrations key for India’s demand growth: minister
Posted on July 12, 2023 by Diligentia News in OilGas.India’s oil and gas consumption is growing at a rapid pace and to ensure that the upward trajectory is sustained it is crucial that domestic consumers remain insulated from surging international oil and gas prices, petroleum minister Hardeep Singh Puri said. “While we talk about growth, we have been mindful of inflation and prices. We […]
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HPCL gets bids to lease part of Chhara LNG terminal
Posted on July 11, 2023 by Diligentia News in OilGas.India’s Hindustan Petroleum Corp Ltd has received six or seven bids from industries to lease a part of its Chhara liquefied natural gas (LNG) import terminal on the west coast, the LNG unit’s chief executive said on Monday. HPCL aims to commission the terminal, with a planned capacity of 5 million metric tons per year […]
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Oil & Gas exploration: Govt receives 13 bids for 10 blocks
Posted on July 11, 2023 by Diligentia News in OilGas.The government received 13 bids, including three from the private sector, for 10 oil and gas blocks on offer in the latest exploration licensing round where companies had a year to submit their bids, according to a notification by the Directorate General of Hydrocarbons (DGH), which oversaw the process and extended bid submission deadline several […]
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Big Oil’s Radical Proposal: Curtail Consumption, Not Production
Posted on July 11, 2023 by Diligentia News in OilGas.Last year, in the middle of an energy crunch, European governments called on their citizens to consume less energy. They also lashed out at Big Oil for making billions from the squeeze. Now, Big Oil is the one calling for a reduction in energy consumption. Essentially, supermajors have suggested that people should use less of […]
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India’s green hydrogen push and challenges
Posted on July 11, 2023 by Diligentia News in OilGas.India wants to become a global hub for the production of green hydrogen, manufactured by splitting water molecules using renewable energy. It is an ambitious plan for a country whose hydrogen consumed currently is produced mostly with fossil fuels. Although first production is expected only in 2026, India has been negotiating bilateral agreements with the […]
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GAIL to implement Pipeline project as an ambitious project envisioned by Modi
Posted on July 11, 2023 by Diligentia News in OilGas.After the commissioning of the 282 km pipeline in Bihar, Natural Gas has now reached North Bengal encompassing the districts of Uttar Dinajpur, Darjeeling, and Jalpaiguri. GAIL (India) Limited is implementing the Barauni Guwahati Pipeline, which is an integral part of the Jagdishpur-Haldia and Bokaro-Dhamra Pipeline as part of the Pradhan Mantri Urja Ganga Project, […]
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India’s gas regulator pitches for building natural gas storage
Posted on July 11, 2023 by Diligentia News in OilGas.India should build storage for natural gas to boost the use of cleaner fuel in the country and hedge against global price volatility, A. K. Jain, chairman of the Petroleum and Natural Gas Regulatory Board, said on Monday. He said India should have natural gas storage that allows suppliers to build stocks when prices are […]
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Saudi-based ITFC signs $1.4bn deal to fund Bangladesh oil imports
Posted on July 10, 2023 by Diligentia News in OilGas.The International Islamic Trade Finance Corp., a member of the Islamic Development Bank Group, has signed a $1.4 billion financing plan with the Bangladeshi government to fund the country’s oil imports, the Saudi Press Agency reported on Saturday. The signing took place during a recent official visit by a high-level delegation from Bangladesh to the […]
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Oil Prices Drop From Ten-Week High On Macroeconomic Concerns
Posted on July 10, 2023 by Diligentia News in OilGas.Oil prices slipped in Asian trade early on Monday, retreating from Friday’s ten-week high amid profit-taking and continued concerns about the world’s two biggest economies, the U.S. and China. As of early trade in Europe, WTI Crude traded at $73.15, down by 0.96% on the day. The international benchmark, Brent Crude, was down by 0.96% […]
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