Category Archives: OilGas
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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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Oil Prices Stuck Between Debt Ceiling Uncertainty And More OPEC+ Cuts
Posted on May 25, 2023 by Diligentia News in OilGas.Crude oil prices began to trade on Thursday with little change from Wednesday’s close as opposing forces kept them stable. On the one hand, fear of a U.S. debt default is driving bearish sentiment and the respective trade behavior, which is pressuring prices. On the other hand, the Saudi Energy Minister suggested earlier this week […]
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Why Total and Africa Oil quit Kenya’s oil project
Posted on May 25, 2023 by Diligentia News in OilGas.Two joint partners in Kenya’s quest for oil in Turkana have quit the project, exerting new pressure on the main operator Tullow Oil, which has been unable to take the exercise off the ground after the British oil explorer ran out of cash. Africa Oil says it abandoned the Kenya project, opting to concentrate in […]
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Ukraine crisis: Who is buying Russian oil and gas?
Posted on May 25, 2023 by Diligentia News in OilGas.India’s oil purchases from Russia have risen sharply, despite efforts by Ukraine and its allies to persuade countries around the world to distance themselves from Russia. Indian Prime Minister Narendra Modi met Ukrainian President Volodymyr Zelensky at the recent G7 summit in Japan, but there was little detail of what was discussed. Western nations have […]
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Oil Ministry working on proposal to merge MRPL with HPCL
Posted on May 25, 2023 by Diligentia News in OilGas.The oil ministry is drawing up a proposal to merge Mangalore Refinery and Petrochemicals Ltd (MRPL) into Hindustan Petroleum Corp Ltd (HPCL), the two listed subsidiaries of Oil and Natural Gas Corp (ONGC), according to people familiar with the matter. The idea of the MRPL-HPCL merger had been floated soon after ONGC acquired HPCL from […]
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Adani Total Gas challenges PNGRB’s authorisation orders for Faridabad-1 GA
Posted on May 25, 2023 by Diligentia News in OilGas.Adani Total Gas Limited has filed an appeal with the Appellate Tribunal for Electricity (APTEL) against the ‘impugned’ orders issued by the Petroleum and Natural Gas Regulatory Board (PNGRB) on April 25 and April 26, the company said in a regulatory filing on Tuesday. These orders pertain to the authorisation for the Noida, Faridabad, and […]
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OVL gets extension for five projects
Posted on May 23, 2023 by Diligentia News in OilGas.ONGC Videsh, the overseas arm of Oil and Natural Gas Corporation, has received an extension for five projects in Myanmar, Bangladesh, Vietnam, South Sudan and Columbia, which would give the firm more time to explore and boost its growth plans, according to people familiar with the matter. Some of the projects for which ONGC Videsh […]
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Can Turkmenistan Become An Important Gas Supplier For Europe?
Posted on May 23, 2023 by Diligentia News in OilGas.In recent months, traditionally isolationist Turkmenistan has begun to make efforts to open up more to the outside world. As a result, intense competition has ensued among key actors, including Russia, China and the United States, for access to Turkmenistan’s transportation routes and energy resources (see EDM, May 11). One consequence of Ashgabat’s opening has […]
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Traders Grow Even More Bearish On Oil
Posted on May 23, 2023 by Diligentia News in OilGas.Despite expectations of a tightening oil market later this year, hedge fund managers and momentum traders continue to be bearish on crude and continue to dump bullish bets. Portfolio managers are now the most bearish on crude oil futures and options in more than a decade as economic concerns and the stalemate in U.S. debt […]
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