Category Archives: OilGas
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Indian Gas Exchange volumes up 215% YoY in April
Posted on May 5, 2023 by Diligentia News in OilGas.Trading volumes on the Indian Gas Exchange (IGX) rose 215% year-on-year to 1,790,700 mmBtu (~45 mmscm/1.5 mmscmd) in April, as per data released by the exchange. However, the month-on-month, volumes fell 68% due to decreased spot demand as long-term supplies rose. IGX executed a total of 74 trades during the period. According to data, Hazira […]
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Could Argentina Replicate Brazil’s Offshore Oil Boom?
Posted on May 4, 2023 by Diligentia News in OilGas.In January this year, the Federal Court of Appeals in Mar del Plata dismissed a lawsuit brought forward by several environmentalist organizations and the mayor of the coastal resort city against an offshore oil and gas exploration project. The court set strict environmental protection conditions for the companies involved in the exploration works—YPF, Shell, and […]
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India calls CREA report misleading and deceptive efforts to tarnish image
Posted on May 4, 2023 by Diligentia News in OilGas.Weeks after Finland based independent international research organisation Centre for Research on Energy and Clean Air (CREA) published its report stating India is purchasing cheap Russian crude oil and converting it into refined petroleum products, which are “laundered” in Europe and G7 countries, ministry of petroleum and natural gas rebutted the charges and called the […]
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BPCL lowers pet coke prices by up to INR 1,840/t for May ’23
Posted on May 4, 2023 by Diligentia News in OilGas.BPCL has slashed pet coke prices by up to INR 1,842/t from its various refineries for May’23 shipments. Current prices: Bina refinery: INR 18,873/t (for rail supply) and INR 16,823/t (for road supply). Kochi refinery: INR 15,301/t (for rail supply), down INR 1,760/t. There is no road supply from this refinery. The material availability at […]
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Petronas to invest Rs 340 billion in Tamil Nadu, 4 other projects get nod
Posted on May 4, 2023 by Diligentia News in OilGas.Petronas, Malaysia’s state-owned oil and gas company, will be investing more than Rs 340 billion in setting up a green hydrogen and ammonia plant in southern Tamil Nadu, according to official sources. The Tamil Nadu cabinet, which met under Chief Minister M K Stalin on Tuesday, gave its nod for five projects, including the Petronas […]
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Why Oil Prices Are Plunging Despite Falling Inventories
Posted on May 4, 2023 by Diligentia News in OilGas.Oil prices have lately lost their forward momentum, with both Brent and WTI crude plunging this week. A rather puzzling trend is being observed in the oil markets: there’s a big disconnect between inventory data and oil prices. Crude oil inventories have fallen below the five-year average for the first time this year. Last week, […]
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Valve opens wider for city gas distribution companies
Posted on May 4, 2023 by Diligentia News in OilGas.The city gas distribution (CGD) sector has received a shot in the arm from the government’s enactment of the Kirit Parikh committee’s recommendations. The government had set up the committee to review the pricing formula for natural gas produced in the country as global energy prices soared. The ceiling of $6.5/MMBtu and floor of $4/MMBtu […]
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Oil Prices Continue To Slip Even As Crude Oil Inventories Decline
Posted on May 3, 2023 by Diligentia News in OilGas.Crude oil inventories in the United fell this week by 3.939 million barrels, the American Petroleum Institute (API) data showed on Tuesday, with analysts expecting a 1 million barrel draw. The total number of barrels of crude oil gained so far this year is still more than 34 million barrels. This week, SPR inventory dropped […]
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India buying Russian crude, laundering refined products into Europe: CREA report
Posted on May 3, 2023 by Diligentia News in OilGas.Helsinki-based Centre for Research on Energy and Clean Air (CREA) has said in a report that India is among the top five countries, including China, that is purchasing cheap Russian crude oil and converting it into refined petroleum products, which are “laundered” in Europe and G7 countries. “We call these five countries that have increased […]
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IOC seeks LNG cargo for Dhamra terminal
Posted on May 3, 2023 by Diligentia News in OilGas.State-run Indian Oil Corp has issued a tender seeking one cargo of liquefied natural gas(LNG) for delivery to the country’s east coast Dhamra terminal, said two industry sources on Tuesday. The cargo is sought on a delivered ex-ship (DES) basis, with a delivery window of Sept. 23-27. The tender closes on May 2, added the […]
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