Category Archives: OilGas
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Saudi Arabia output cuts to kick in from July; will oil prices rise again
Posted on July 3, 2023 by Diligentia News in OilGas.Saudi Arabia – the world’s largest oil producer, will undertake voluntary crude oil output cuts which are set to kick in this month, starting from July 1, amid a tighter market which is currently reeling under the impact of sluggish global economic growth and further rate hike fears by global banks. In the previous meeting […]
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China is buying natural gas like there’s still an energy crisis
Posted on July 3, 2023 by Diligentia News in OilGas.CHINA is on a natural gas shopping spree, and officials are happy for importers to keep striking deals even after a global energy crisis has eased. The government continues to back efforts by state-owned buyers to sign long-term contracts and even invest in export facilities, in order to bolster energy security through the middle of […]
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Europe Set To Reach Natural Gas Storage Target Ahead Of Schedule
Posted on June 29, 2023 by Diligentia News in OilGas.The European Union is on track to fill up its natural gas storage facilities ahead of schedule, Rystad Energy has forecast. “Considering historical demand, and assuming different supply scenarios, storage facilities could even be full ahead of winter this year, resulting in gas flows having to be diverted elsewhere,” senior analyst Lu Ming Pang said, […]
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Are Moscow And China Aiming To Corner The Gas Market?
Posted on June 28, 2023 by Diligentia News in OilGas.Current natural gas market prices remain depressed compared to record prices in 2022. However, indications suggest that the current low prices may soon become a thing of the past, especially if China brings online its significant LNG regasification projects within the expected timeframe and continues to exert influence on global markets. European gas markets could […]
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Traders To Blame As European Gas Markets Descend Into Chaos
Posted on June 28, 2023 by Diligentia News in OilGas.Earlier this month, natural gas prices in Europe rose twofold in the space of 10 days, with a single trading day seeing a jump of 27% two weeks ago. On June 15, prices jumped by 30%. A day later, they dropped almost as sharply as they had risen, shedding over 20%. All this happened before […]
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U.S. Shale Growth Stalls As Oil Prices Fall
Posted on June 28, 2023 by Diligentia News in OilGas.Softer oil and natural gas prices and rising costs are squeezing the profit margins in the U.S. shale patch, where the business activity growth stalled in the second quarter of the year. While the Energy Information Administration (EIA) continues to expect record production from the shale plays, growth in output next month is set to […]
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Honeywell to bring new carbon capture, hydrogen tech to India
Posted on June 28, 2023 by Diligentia News in OilGas.Industrial technology solutions leader Honeywell International has developed several energy transitions and sustainability solutions to reduce carbon emissions and these technologies will soon be made available in India, says Ashish Modi, President, Honeywell India. Hoenywell, with a revenue worth $35 billion, pioneered solutions in carbon capture, new-age batteries, avionics products, and next-generation refrigerants like hydrofluoroolefins […]
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How cheaper crude oil from Russia has changed India’s fuel trade matrix
Posted on June 28, 2023 by Diligentia News in OilGas.Sourcing cheaper crude oil from sanction-hit Russia has opened new doors for boosting exports for India while it seems to have alienated traditional buyers of processed petroleum products from the country. While countries like Singapore (-41.7 per cent), USA (-13.2 per cent), Australia (-58.8 per cent), South Korea (-23.9 per cent) and Malaysia (-52.8 per […]
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Russia Tells U.S. Not To Lecture Saudi Arabia On Oil
Posted on June 12, 2023 by Diligentia News in OilGas.The United States should not tell Saudi Arabia how to manage its crude oil production, Kremlin spokesman Dmitry Peskov said on Friday. “Saudi Arabia is a sovereign state, a responsible state, and a very important player in the international energy markets. Of course, this sovereign state is capable of making decisions that concern its own […]
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Kerala can save Rs 90 billion by switching to renewable energy, says study
Posted on June 12, 2023 by Diligentia News in OilGas.The state can save up to Rs 90 billion in five years if coal power purchases are replaced with renewable energy contracts, according to a recent study. The study gains significance in the backdrop of a recent decision by the state government to move to 100 per cent renewable energy by 2040. The report has […]
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