Category Archives: OilGas
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Solar Is Cheapest Energy Source Says IEA
Posted on May 29, 2023 by Diligentia News in OilGas.Solar power has been touted as the cheapest available source of energy for several years now. Solar power proponents have been talking about the consistent decline in the cost of raw materials and panel production. They have also talked about LCOE. The levelized cost of energy is a metric that fans of wind and solar […]
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Asian Oil Imports Set For A Rebound In May
Posted on May 29, 2023 by Diligentia News in OilGas.Crude oil imports into Asia this month are expected to rise by 8.6% on the month as refineries in China and India exit maintenance season, Reuters’ Clyde Russell reported today, citing data from Refinitiv. The rebound follows a decline in Asian crude imports in April when the total dropped to the lowest in seven months. […]
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Gas price plunge brings relief to Europe
Posted on May 29, 2023 by Diligentia News in OilGas.European gas prices have plunged to the lowest since mid-2021, when Russia was just beginning to squeeze supplies before its invasion of Ukraine, helping to reverse a surge in inflation and bring relief to consumers. The slump gas futures are down by two-thirds already this year hasn’t just eased the pressure on household budgets. It […]
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Natural Gas Prices Could Fall Below Zero In Parts Of Europe
Posted on May 29, 2023 by Diligentia News in OilGas.As tepid demand for gas from power generation and industry has sent European natural gas prices into a freefall in recent weeks, traders and industry officials are not ruling out the possibility that Europe may see a brief dip to below zero for day-ahead prices in some markets this summer. The combination of ample inventories […]
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Efforts on to put pressure on India for importing Russian oil amidst Ukraine conflict
Posted on May 29, 2023 by Diligentia News in OilGas.India’s import of oil from Russia has become a major irritant for certain constituencies in the United Kingdom and the United States, the two countries that are leading the charge against Russia with Ukraine in the war. As per official data, in March 2022 India was importing 0.4 million oil barrels a day from Russia, […]
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ONGC puts a date to start of KG gas, seeks $12 price
Posted on May 29, 2023 by Diligentia News in OilGas.India’s top oil and gas producer ONGC has finally put a date for the much-awaited start of production from its KG basin gas field as it sought USD 12 price for the fuel it plans to deliver from June 15. Oil and Natural Gas Corporation (ONGC) will produce 0.4 million standard cubic metres per day […]
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Oil Short-Sellers Might Be In For Another Big Squeeze
Posted on May 26, 2023 by Diligentia News in OilGas.Oil prices recorded big declines on Thursday, with WTI and Brent crude down 3% on the intraday session as debt ceiling jitters overcame optimism about another round of OPEC+ production cuts. Rampant short-selling has also been putting a lot of pressure on the markets. According to commodity experts at Standard Chartered, speculative positioning in crude […]
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USD 300 million of Indian oil firms stuck in Russia
Posted on May 26, 2023 by Diligentia News in OilGas.As much as USD 300 million (about Rs 25 billion) of dividend income belonging to Indian oil firms is stuck in Russia due to tough Western sanctions following Moscow’s invasion of Ukraine, a top official said on Thursday Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in […]
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India takes lead in clean energy investment: IEA
Posted on May 26, 2023 by Diligentia News in OilGas.India is emerging as a global leader in clean energy investment, surpassing spending on fossil fuels, as the country accelerates its transition towards sustainable energy solutions, according to a report released by the International Energy Agency (IEA) on Thursday. Of the projected $2.8 trillion global energy investment for 2023, more than $1.7 trillion is expected […]
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India to be green hydrogen hub by 2040: Hardeep Singh Puri
Posted on May 26, 2023 by Diligentia News in OilGas.India will become a major green hydrogen hub in all aspects – production, consumption and exports – by 2040, petroleum and natural gas minister Hardeep Singh Puri on Wednesday said at a CII event. “By 2040, India will be a major green hydrogen hub with demand, production, and consumption all in India, including major exporting […]
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