Category Archives: OilGas
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Indian government may invest $3.6bn in oil marketing companies
Posted on May 3, 2023 by Diligentia News in OilGas.Indian government could make an equity investment of Rs300bn ($3.66bn) in the country’s three oil marketing companies (OMCs), reported Economic Times, citing sources. The capital infusion will be after the OMCs — Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) — submit their capital plans to the government. […]
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India will achieve 20% ethanol-blended petrol target by 2025; maize to play important role, says Piyush Goyal
Posted on May 3, 2023 by Diligentia News in OilGas.Food and Consumer Affairs Minister Piyush Goyal on Tuesday expressed confidence that the country will achieve the target of 20 per cent blending of ethanol with petrol by 2025 and asserted that maize crop will play an important role in implementation of this programme. Addressing a national seminar on maize to ethanol, Goyal said ethanol […]
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CPCL MD Arvind Kumar among 10 in race for IOC top job
Posted on May 2, 2023 by Diligentia News in OilGas.Chennai Petroleum Corporation Ltd (CPCL) managing director Arvind Kumar is among 10 in the race to become the next chairman of India’s largest oil company Indian Oil Corporation (IOC). Kumar and nine others have been called for an interview by the government headhunter Public Enterprise Selection Board (PESB) on May 16, according to a shortlist […]
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Russia To Restart Forex Buying As Oil And Gas Revenues Rebound
Posted on May 2, 2023 by Diligentia News in OilGas.Russia’s oil and gas revenues have rebounded from recent lows and the country is gearing up to resume purchases of foreign currency as early as this month, according to Bloomberg Economics. The country’s revenues from energy exports were hurt by Western sanctions and an embargo on oil and fuel exports to the European Union but, […]
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Predictions Of An Oil And Gas Decline Are Overblown
Posted on May 2, 2023 by Diligentia News in OilGas.The end of oil and gas is nigh. In a decade or so, demand will begin to ebb as electrification takes giant strides toward a cleaner, more reliable energy system. This is the leitmotif repeated by proponents of the energy transition from fossil fuels to low-carbon energy sources such as wind, solar, and hydrogen. These […]
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TotalEnergies To Buy LNG From ADNOC In $1B Deal
Posted on May 2, 2023 by Diligentia News in OilGas.ADNOC Gas Plc, a listed subsidiary of Abu Dhabi National Oil Co, has reached an agreement with France’s TotalEnergies SE (NYSE:TTE) to supply the latter with liquefied natural gas (LNG) in a $1B deal, Bloomberg has reported. The deal is one of the latest by a European gas buyer as Europe once again scrambles to […]
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Centre slashes windfall tax on crude oil to Rs 4,100 per tonne
Posted on May 2, 2023 by Diligentia News in OilGas.India Monday slashed windfall tax on domestically produced crude oil to ₹4,100 per tonne from ₹6,400 per tonne. The export duty exemption for petrol, diesel and aviation turbine fuel will continue. The duty will be effective May 2, according to a notification issued by the Central Board of Indirect Taxes and Customs. In the previous […]
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Turkmenistan starts supplying liquefied natural gas to Pakistan through Afghanistan
Posted on May 2, 2023 by Diligentia News in OilGas.Turkmenistan started supplying liquefied natural gas to Pakistan through the territory of Afghanistan. The official opening ceremony of the transit route took place on April 29 in southern Afghan province Kandahar, which borders Pakistan, TOLOnews reported. The transit route will run from the Afghan city of Torgundi on the border with Turkmenistan to the Spin-Boldak […]
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Centre hikes domestic gas prices for May; CNG, PNG prices may remain unchanged
Posted on May 2, 2023 by Diligentia News in OilGas.The price of domestic natural gas for May has been set at $8.27 per metric million British thermal units (mmBtu), up from April’s $7.92, as per a notification by the Petroleum Planning and Analysis Cell. This adjustment follows last month’s introduction of a new domestic gas pricing formula. “The price of domestic natural gas for […]
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Oil Prices Start The Week Lower As Bearish Sentiment Builds
Posted on May 1, 2023 by Diligentia News in OilGas.Crude oil prices fell earlier today, starting the week with a decline on expectations of another rate hike by the Fed that combined with weaker-than-expected economic data from China to erase previous gains. In morning trade in Asia Brent crude had fallen below $80, with West Texas Intermediate was down to a little over $76 […]
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