Category Archives: OilGas
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Sri Lanka wants India to put a Oil and Gas pipeline to help its economy to recover
Posted on May 18, 2023 by Diligentia News in OilGas.Sri Lankan High Commissioner in India Dr Milinda Moragoda today disclosed that his country had floated a proposal to the Indian government to lay an Oil & Gas pipeline through Trincomalee and claimed it had received favourable response from the leadership of the country. Speaking to foreign correspondents here this evening at the Foreign Correspondents […]
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GAIL shuts Ratnagiri LNG terminal till September, cuts imports: Sources
Posted on May 18, 2023 by Diligentia News in OilGas.GAIL (India) Ltd has stopped importing liquefied natural gas (LNG) at its 5 million tonnes/year Ratnagiri plant since mid-May as it has shut the facility until end-September, two company sources said. GAIL annually shuts the plant in the western Maharashtra state during monsoon season as rain and high tides make operations difficult without a breakwater. […]
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Bharat Petroleum unveils Rs 490 billion petrochemical and capacity expansion project at Bina Refinery
Posted on May 18, 2023 by Diligentia News in OilGas.Bharat Petroleum Corporation Limited (BPCL), a oil and gas company in India, has announced its ambitious expansion plans worth Rs. 490 billion, further increasing the Company’s footprints in petrochemical segment and renewable energy, together with augmenting marketing infrastructure. The core component of the expansion projects is the Ethylene Cracker Project, which will drive the production […]
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India still a bright spot for LNG in a subdued market
Posted on May 17, 2023 by Diligentia News in OilGas.The recent drop in the Platts West India marker to a near two-year low, expectations of a ramp-up in operations at Dhamra LNG terminal and the hot weather will likely keep spot LNG procurement supported in India, despite a rise in domestic natural gas production, industry sources told S&P Global Commodity Insights. “LNG procurement should […]
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BPCL to invest Rs 52, 731 crore in expanding capacities
Posted on May 17, 2023 by Diligentia News in OilGas.State-owned Bharat Petroleum Corporation Ltd’s (BPCL) board has approved the ethylene cracker project at Bina Refinery including downstream petrochemical plants and expansion of the refinery with capital expenditure of approximately Rs 49,000 crore, the company said. The core component of the expansion projects is the Ethylene Cracker Project, which will drive the production of essential […]
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India Looks To Lock In Long-Term LNG Deals
Posted on May 17, 2023 by Diligentia News in OilGas.Major Indian natural gas importers are discussing long-term supply deals with the biggest LNG exporting countries to lock in future supply and avoid volatility and uncertainty in case of spot price spikes, traders and executives tell Bloomberg. India plans to significantly increase its natural gas consumption as it looks to boost its share in the […]
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Rosneft sends JV feelers to PSU refiners for India unit
Posted on May 17, 2023 by Diligentia News in OilGas.Russia’s Rosneft has expressed interest in building a greenfield refinery in India in a joint venture with domestic state-owned refiners, according to people familiar with the matter. India’s public sector refiners are separately seeking foreign partners in their pursuit of a scaled-down alternative to the proposed $44-billion west coast refinery that hasn’t taken off for […]
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India set for LNG deal-making rush in win for Modi’s gas push
Posted on May 17, 2023 by Diligentia News in OilGas.India’s liquefied natural gas buyers are seeking decades-long supply deals to protect them from price surges, a move that will support the government’s plan to boost the fuel’s use. Importers are accelerating efforts to lock in fuel, according to traders and executives. Buyers including Petronet LNG Ltd., GAIL India Ltd. and Indian Oil Corp. are […]
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OPEC Cut Failed To Lift Oil Prices, But The Year Isn’t Over Yet
Posted on May 16, 2023 by Diligentia News in OilGas.Crude oil prices have been on a losing streak for four consecutive weeks now, erasing all the gains they booked after OPEC’s latest supply cut announcement as economic fears take precedence over demand expectations. When the cartel announced the cuts, almost every bank with a commodities department rushed to update their price forecasts, expecting prices […]
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BPCL Signs Exclusive bunkering Rights with Cordeilla Cruises for the West Coast
Posted on May 16, 2023 by Diligentia News in OilGas.BPCL Signs Exclusive bunkering Rights with Cordeilla Cruises for the West Coast Mumbai, May 15, 2023: BPCL is pleased to announce its exclusive bunkering partnership with Waterways Leisure Tourism Pvt Ltd, the renowned operator of Cordeilla Cruises, one of the most luxurious fleets of cruise liners in India. As per the Memorandum of Understanding signed […]
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