Category Archives: OilGas
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The World’s Green Energy Transition Depends On Asia
Posted on July 6, 2023 by Diligentia News in OilGas.The rapid green transition of the Asian region may be key to the rest of the world meeting its climate pledges, according to several experts. The speed at which some of Asia’s largest countries and biggest polluters, such as China and India, achieve net zero could determine the success of other regions around the globe […]
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Europe And China Face Off Over U.S. LNG Supply Deals
Posted on July 6, 2023 by Diligentia News in OilGas.Concerned about energy security, Europe and China are in an intensifying competition to sign long-term supply deals with U.S. LNG developers and exporters. The race for LNG supply indexed to Henry Hub prices and with flexibility clauses to resell the cargoes if not needed gives buyers certainty about long-term supply and the possibility to send […]
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Morgan Stanley cuts oil price forecasts, sees surplus in H1 2024
Posted on July 6, 2023 by Diligentia News in OilGas.Morgan Stanley on Wednesday lowered its oil price forecasts, predicting a market surplus in the first half of 2024 with non-OPEC supply growing faster than demand next year The Wall Street bank cut its Brentprice outlook for the third quarter this year to $75 from $77.50 per barrel and lowered its fourth quarter forecast to […]
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Discounted Russian crude imports saved Indian refiners $7 billion
Posted on July 6, 2023 by Diligentia News in OilGas.Indian refiners saved at least $7.17 billion in foreign exchange in the 14 months that ended May 2023 by ramping up purchases of discounted Russian crude oil following the outbreak of the war in Ukraine, an analysis of India’s trade data for the period shows. India, the world’s third-largest consumer of crude oil, depends on […]
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Oil Prices Diverge As Uncertainty Persists
Posted on July 5, 2023 by Diligentia News in OilGas.Crude oil prices, which had been rallying on the news that Saudi Arabia will extend its production cuts, began trade on Wednesday with a slight decline before WTI jumped even higher while Brent remained in the red. Uncertainty in oil markets has traders struggling to balance economic risks with supply cuts, although those aren’t their […]
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Green hydrogen to be India’s future fuel, says union minister R K Singh
Posted on July 5, 2023 by Diligentia News in OilGas.Union Minister R K Singh on Wednesday said green hydrogen is going to be the future fuel in India, while urging investors to invest in the country to manufacture the clean energy source. The remarks by the minister for power, new and renewable energy were made at the first International Conference on Green Hydrogen 2023. […]
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Russian Oil Prices Jump Ahead Of Export Cut
Posted on July 5, 2023 by Diligentia News in OilGas.The price of Russian ESPO crude, which goes to China, rose to the highest in seven months as Chinese buyers rushed to buy it ahead of an announced 500,000-bpd cut in exports next month. Per Reuters, ESPO is currently trading at a $4 per-barrel discount to Brent crude, which puts it $6 above the G7 […]
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Oil Prices Diverge As Uncertainty Persists
Posted on July 5, 2023 by Diligentia News in OilGas.Crude oil prices, which had been rallying on the news that Saudi Arabia will extend its production cuts, began trade on Wednesday with a slight decline before WTI jumped even higher while Brent remained in the red. Uncertainty in oil markets has traders struggling to balance economic risks with supply cuts, although those aren’t their […]
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India mulls bilateral deals for green hydrogen-linked carbon credits
Posted on July 5, 2023 by Diligentia News in OilGas.India is considering bilateral agreements with countries such as Japan to allow them to use carbon credits linked to green hydrogen production in India in exchange for investment and purchase deals, two government sources and one industry source told Reuters. New Delhi this year approved a 174.9 billion rupee ($2.13 billion) incentive plan to promote […]
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Russia Says It Will Reduce Oil Exports By 500,000 Bpd In August
Posted on July 5, 2023 by Diligentia News in OilGas.Russia will cut its crude oil exports by 500,000 barrels per day (bpd) in August in a bid to ensure a balanced market, Russia’s Deputy Prime Minister Alexander Novak said on Monday. “As part of the efforts to ensure a balanced market, Russia will voluntarily reduce its oil supply in August by 500,000 barrels per […]
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