Category Archives: OilGas
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Piped natural gas growth remains slow in India despite government push
Posted on April 26, 2023 by Diligentia News in OilGas.The government has been pushing for the use of piped natural gas (PNG) in households, with the objective of increasing the share of natural gas in India’s energy basket. But most Indian kitchens still depend on the traditional energy source, liquefied petroleum gas (LPG) cylinders, as the PNG rollout continues to be slow due to […]
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Reliance and BP begin commissioning work on Indian flagship deep-water gas field
Posted on April 26, 2023 by Diligentia News in OilGas.Indian private-sector giant Reliance Industries and UK supermajor BP have begun commissioning activities at a flagship deep-water asset in the Krishna Godavari basin offshore India’s east coast. Reliance has started testing the floating production, storage and offloading vessel and other subsea structures at the MJ gas in field in the KG-D6 block, with “commissioning activities” […]
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India’s RIL ups O2C revenue in FY2022-23 on crude rally
Posted on April 26, 2023 by Diligentia News in OilGas.Indian private-sector refiner Reliance Industries (RIL) posted higher revenue from its oil-to-chemicals (O2C) business during the April 2022-March 2023 fiscal year because of a rise in average crude prices and higher price realisation from transportation fuels. RIL’s revenue from the O2C business rose to 5.95 trillion rupees ($72.6bn) in 2022-23, up by nearly 19pc from […]
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China’s Economy Is Picking Up, But Oil Demand May Disappoint
Posted on April 25, 2023 by Diligentia News in OilGas.China’s economy grew by 2.2 percent on a seasonally adjusted basis in the first quarter (Q1), a massive improvement on the previous quarter’s 0.6 percent growth. Also positive from the economic perspective was that this was the third straight quarterly expansion after China began to ease COVID-19 restrictions in the second half of last year. […]
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U.S. Stresses Importance Of LNG For Europe
Posted on April 25, 2023 by Diligentia News in OilGas.Russian President Vladimir Putin belied that his invasion of Ukraine in 2022 would go largely unopposed by the U.S. and its allies for the same reason that he was able to invade the country in 2014 and annex Crimea. That is, that the non-U.S. part of the North Atlantic Treaty Organization (NATO) – Europe – […]
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OPEC’s share of Indian oil imports down to 22-year low. Here’s why
Posted on April 25, 2023 by Diligentia News in OilGas.OPEC’s share of India’s oil imports fell at the fastest pace in 2022/23 to the lowest in at least 22 years, as intake of cheaper Russian oil surged, data obtained from industry sources show, and the major producers’ share could shrink further this year. Members of the Organization of the Petroleum Exporting Countries (OPEC), mainly […]
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Built And Financed By India, Mongolia’s First Greenfield Oil Refinery To Be Ready By 2025
Posted on April 25, 2023 by Diligentia News in OilGas.Mongolia’s first oil refinery, being built on the outskirts of the capital city, Ulaanbaatar, and funded with Indian assistance, will be completed by 2025, said the country’s Ambassador Dambajav Ganbold. In an interview with a Livemint, Ganbold said the first stage of Mongol Oil Refinery, built with a $1.2 billion Indian soft loan, will be […]
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Explained: Why are global crude oil prices falling
Posted on April 25, 2023 by Diligentia News in OilGas.Global crude oil prices have been falling gradually over the past few months and the trend seems no signs of reversing anytime soon. Oil prices continued their downward trend on Monday due to a range of global factors that have clouded its demand outlook. Rising interest rates and the ongoing global economic slowdown have also […]
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GAIL to get 4 LNG cargoes from Germany’s Sefe in May
Posted on April 25, 2023 by Diligentia News in OilGas.Indian gas firm GAIL (India) Ltd will get 4 cargoes of liquefied natural gas (LNG) from Germany’s Sefe in May, equivalent to volumes it was getting under a deal with a former unit of Russia’s Gazprom, Chairman Sandeep Gupta said on Monday. Sefe supplied 2 LNG cargoes each in March and April. “Sefe will decide […]
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Indian companies sometimes face delays in paying for Russian oil above $60/bbl: Oil secretary
Posted on April 24, 2023 by Diligentia News in OilGas.Indian companies “sometimes” face delays in paying for Russian oil priced above the $60 cap per barrel fixed by the Western nations, India’s oil secretary Pankaj Jain said on Monday. “Nobody stops us from buying Russian oil at above the price cap level provided. We are not using western service,” Jain told reporters on the […]
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