Category Archives: OilGas
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Oil & Gas In The Age Of Climate Change
Posted on April 24, 2023 by Diligentia News in OilGas.Rising sea levels, wild-fires, heat waves and extreme weather events are already wreaking havoc everywhere and could cost the global economy hundreds of billions of dollars in crumbling infrastructure, reduced crop yields, health problems, and lost labor. When most people think about climate change, the oil and gas industries tend to take the lion’s share […]
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Guyana Refuses To Sell Discounted Oil To India
Posted on April 24, 2023 by Diligentia News in OilGas.One of the world’s growing hotspots for crude oil exploration has refused to sell discounted crude oil to India, Guyana’s Vice President Bharrat Jagdeo said this week. Guyana’s crude oil production has increased three-fold from a year ago, with the government of Guyana holding the rights to about 12.5% of the country’s vast oil riches. […]
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Four Scenarios That Could Send Oil Prices To $200
Posted on April 24, 2023 by Diligentia News in OilGas.It was the talk of the town last year. Traders bet on oil hitting $200 by March this year. Hedge fund managers warned it could even reach $250 before 2022 was over. None of that happened, and in hindsight, it’s easy to see why: global oil markets have time and again proved they are a […]
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Reliance Industries to commence deep-sea gas production from MJ field in current quarter
Posted on April 24, 2023 by Diligentia News in OilGas.Reliance Industries Ltd is set to commence natural gas production from its deepest discovery in the KG-D6 block this quarter and is expected to cover for 15% of India’s gas demands. KG-D6 block is located off the coast of Andhra Pradesh and is India’s only deep-water block under production. According to an investor presentation after […]
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Asia’s longest oil pipeline laid across B’putra to connect Majuli with Jorhat
Posted on April 24, 2023 by Diligentia News in OilGas.The Indradhanush Gas Grid Limited (IGGL) has accomplished the Herculean task of laying Asia’s longest river crossing oil pipeline of bigger size (24-inch diameter and above), which is also the second longest in the world, connecting river island Majuli with Jorhat in upper Assam. The IGGL said the laying of the hydrocarbon pipeline beneath the […]
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India’s dependence on Russian oil soars to 30%
Posted on April 24, 2023 by Diligentia News in OilGas.India’s dependence on Russian oil has increased to account for 30% of its imported total in March, according to a Nikkei analysis of shipping data. India, which had previously relied almost exclusively on the Middle East, imported more than 6 million tonnes of Russian oil last month. Western sanctions stemming from Moscow’s invasion of Ukraine […]
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Russia’s Gas Giant To Set Up Middle East Unit
Posted on April 20, 2023 by Diligentia News in OilGas.A regulatory disclosure revealed on Tuesday that Gazprom is setting up a unit in the Middle East, according to Reuters. Russia’s state-controlled gas company did not provide details, but those details could be a critical factor in determining influence in the Middle East—be that Russia’s or the United States’. The news comes after an exclusive […]
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Oil Prices Continue To Fall As Demand Concerns Persist
Posted on April 20, 2023 by Diligentia News in OilGas.Demand worries outweighed supply concerns this week to push down oil prices, reinforced by heightened expectations of more U.S. rate hikes that lifted the greenback. In morning trade in Asia oil was down for the third day out of the last four, despite the EIA reporting an inventory draw of 4.6 million barrels for the […]
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Centre seeks proposals to develop green hydrogen innovation hubs
Posted on April 20, 2023 by Diligentia News in OilGas.The Centre has invited expressions of interest (EoI) for developing hydrogen valley innovation clusters (HVIC) in the country. The Department of Science and Technology’s guidelines define a hydrogen valley as a specific geographic region where hydrogen serves more than one end sector or application in mobility, industry, and energy. This includes all steps in the […]
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BPCL to invest $ 5 billion in Bina refinery complex
Posted on April 20, 2023 by Diligentia News in OilGas.India’s state-owned Bharat Petroleum Corp Ltd (BPCL) plans to invest rupee (Rs) 430bn-500bn ($5.2bn-6.1bn) to expand its Bina refinery and build a petrochemical complex at the site in the central Madhya Pradesh state. BPCL has received necessary approvals from the Madhya Pradesh state government for the project, the company said in a regulatory filing to […]
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