Category Archives: OilGas
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Oil Edges Down as Traders Weigh Trump’s Latest India Threat
Posted on August 6, 2025 by Diligentia News in OilGas.Oil extended a three-day drop, as investors weighed risks to Russian supplies, with US President Donald Trump stepping up a threat to penalize India for buying Moscow’s crude. Brent traded near $68 a barrel after shedding more than 6% over the previous three sessions, while West Texas Intermediate was just shy of $66. Trump said […]
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Should India stop buying US LNG?: Former diplomat slams US over oil hypocrisy, Pakistan ties
Posted on August 5, 2025 by Diligentia News in OilGas.Former Indian Foreign Secretary Kanwal Sibal fired back at U.S. criticism over Russian oil purchases, accusing Washington of hypocrisy in global trade and foreign policy, while questioning its support for Pakistan and growing ties with China. In a pointed post on X, Sibal responded to Republican Congressman Don Bacon’s call for India to “pay out […]
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IOC buys seven million barrels of U.S., West Asia crude after Russian oil pause
Posted on August 5, 2025 by Diligentia News in OilGas.Indian Oil Corporation (IOC), the country’s top refiner, has bought seven million barrels of September-arrival crude from the United States, Canada and West Asia via a tender, several trade sources said on Monday (August 4, 2025). IOC’s large spot crude purchase comes after the arbitrage window for U.S. crude to Asia opened and as Indian […]
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BP makes its biggest oil and gas discovery in 25 years
Posted on August 5, 2025 by Diligentia News in OilGas.Bp has hailed its biggest discovery in over a quarter of a century as the oil giant renews its focus on fossil fuels. The FTSE 100 group revealed the find after drilling a well off the coast of Brazil, in the Bumerangue oil field, just over 400 kilometres offshore from Rio de Janeiro, spanning more […]
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Baloch leader warns Trump over oil and gas exploration in Balochistan, asserts region’s sovereignty
Posted on August 4, 2025 by Diligentia News in OilGas.In a dramatic development, Balochistan leader Mir Yar Baloch has issued a stern warning to US President Donald Trump regarding his interest in establishing a massive oil and natural gas plant in Pakistan. In a post on his official X (formerly Twitter) account, Baloch cautioned Trump against stepping into any natural resource exploration in the […]
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U.S. penalty risk on Russian oil may add $9-11 billion to India’s import bill, analyst say
Posted on August 4, 2025 by Diligentia News in OilGas.India’s annual oil import bill could rise by $9-11 billion if the country is compelled to move away from Russian crude in response to U.S. threats of additional tariffs or penalties on Indian exports, analysts said. India, the world’s third-largest oil consumer and importer, has reaped significant benefits by swiftly substituting market-priced oil with discounted […]
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HPCL signs 10-year LNG supply deal with Abu Dhabi’s ALNG
Posted on August 4, 2025 by Diligentia News in OilGas.Hindustan Petroleum Corporation Limited (HPCL) has entered into a strategic agreement with Abu Dhabi Gas Liquefaction Company (ALNG), a subsidiary of ADNOC Gas, for the long-term supply of Liquefied Natural Gas (LNG) over a 10-year period. The agreement, signed under a Heads of Agreement (HOA), marks a major step in bolstering India’s energy security and […]
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India hasn’t given refiners directions to stop buying Russia Oil
Posted on August 4, 2025 by Diligentia News in OilGas.India has not issued any directive to its oil refiners to halt purchases of Russian crude, Bloomberg reported, citing people familiar with the matter. The decision comes as the Indian government navigates its energy security needs while managing diplomatic ties with Moscow and avoiding further tensions with US President Donald Trump. According to Bloomberg sources […]
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Shippers ask to end contracts with Russian-backed refiner Nayara
Posted on August 1, 2025 by Diligentia News in OilGas.The owners of three vessels chartered by India’s Nayara Energy have asked to end their contracts with company, six sources familiar with the matter said on Tuesday, under pressure from EU sanctions imposed on the Russian-owned refiner. Nayara, majority-owned by Russian entities including oil major Rosneft, runs India’s third-biggest refinery and exports refined products and […]
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Trump Tariff: Petroleum Ministry Evaluates Russia Penalty; Awaits Executive Directive
Posted on August 1, 2025 by Diligentia News in OilGas.The Ministry of Petroleum and Natural Gas is currently assessing the potential impact of U.S. President Donald Trump’s newly announced 25% tariff on Indian exports. The announcement also states that an additional penalty will be imposed due to India’s crude oil imports from Russia. Senior government officials told NDTV Profit that the ministry is awaiting […]
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