Category Archives: OilGas
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GAIL India to see higher realisation as PNGRB hikes tariff: Kotak Institutional Equities
Posted on July 4, 2023 by Diligentia News in OilGas.With the Petroleum and Natural Gas Regulatory Board (PNGRB) raising unified tariff for the national gas grid, Kotak Institutional Equities sees higher realisation for GAIL India. PNGRB raised the unified tariff for the national gas grid by approximately 10 percent to Rs 81 per mmbtu with varying increases of 1 percent, 5 percent, and 15 […]
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Inside Qatar’s multi-billion LNG expansion
Posted on July 4, 2023 by Diligentia News in OilGas.In the heart of the Arabian Gulf, amidst the shimmering skyline and ambitious visions, lies a nation that has carved its path to global prominence through its abundant natural resources. Qatar, a small peninsula, has long been synonymous with energy wealth, thanks to its vast reserves of natural gas. Now, as the world grapples with […]
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LPG shipments to draw customs duty of 15% & farm cess of equal amount
Posted on July 4, 2023 by Diligentia News in OilGas.The Centre has raised the basic customs duty on domestic LPG to 15% from 5%. It has also imposed an Agriculture Infrastructure and Development Cess (AIDC) of 15% on the import of LPG cylinders However, the basic customs duty hike will not be applicable to imports of liquefied propane, liquefied butane and mixture of liquefied […]
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Oil Prices Inch Higher In Cautious Response To Saudi And Russian Cuts
Posted on July 4, 2023 by Diligentia News in OilGas.Crude oil prices moved modestly higher in Asia pre-noon trade today following the news that Saudi Arabia would extend its voluntary oil production cuts through August. The Kingdom would produce some 9 million bpd of oil in August—the same level it aims for this month—and could further extend the reduction beyond August, the Saudi Press […]
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India refiners start yuan payments for Russian oil imports: Sources
Posted on July 3, 2023 by Diligentia News in OilGas.Indian refiners have begun paying for some oil imports from Russia in Chinese yuan, sources with direct knowledge of the matter said, as Western sanctions force Moscow and its customers to find alternatives to the dollar for settling payments. Western punishments over Russia’s invasion of Ukraine have shifted global trade flows for its top export, […]
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IEA Warns Of A Spike In Energy Prices This Winter
Posted on July 3, 2023 by Diligentia News in OilGas.Energy prices could spike again this winter, the head of the International Energy Agency has warned. Speaking to the BBC, Fatih Birol said that if China’s economic recovery from the pandemic accelerated later this year and the winter in the northern hemisphere was harsher than last year’s, prices would rise. If that happens, governments would […]
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India’s Russian oil imports climb to new peak as limit nears
Posted on July 3, 2023 by Diligentia News in OilGas.India imported a record volume of crude from Russia in June as the country nears the limit of its buying splurge from the major oil producer. Daily volumes climbed to 2.2 million barrels a day in June, rising for a 10th month, Viktor Katona, the head of crude analysis at Kpler told Bloomberg. According to […]
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Why The U.S. Has Become The Blackout Capital Of The Developed World
Posted on July 3, 2023 by Diligentia News in OilGas.Rolling blackouts, freezing homes and skyrocketing electricity prices. A few decades ago, power outages in vast swathes of the United States were relatively rare and would normally be seen as black swan events. Unfortunately, mass blackouts have now become a regular feature of modern American life. Power outages have increased 64% from the early 2000s […]
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Is OPEC Locked Into Supply Cuts With Oil Below $75?
Posted on July 3, 2023 by Diligentia News in OilGas.As oil prices hover underneath the $75 for a Brent barrel, OPEC has likely found itself stuck with the extra supply cuts it took on—mainly Saudi Arabia—a hedge fund manager told Bloomberg on Friday. “It would be too damaging to prices to remove it at this time, given the fragility of sentiment,” hedge fund manager […]
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Petrobangla seeks Tk71.81 billion loan to foot LNG import bills
Posted on July 3, 2023 by Diligentia News in OilGas.State-owned Petrobangla, the oil gas and mineral corporation of Bangladesh, has sought a loan of Tk71.81 billion from the finance ministry to meet the cost of liquefied natural gas (LNG) import until next September. The cash-strapped corporation wrote a letter in the last week of May, mentioning that its loss amounted to Tk254.80 billion from […]
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