Category Archives: OilGas
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Windfall tax reimposed on local crude oil; duty on diesel exports scrapped
Posted on April 19, 2023 by Diligentia News in OilGas.India Tuesday reimposed windfall tax on domestically produced crude oil at ₹6,400 per tonne and scrapped export duty on diesel. The export duty exemption for petrol and aviation turbine fuel (ATF) will continue. In the last revision the Centre had reduced the windfall profit tax on domestically produced petrol to zero while it has halved […]
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India and China snap up Russian oil in April above ‘price cap’
Posted on April 19, 2023 by Diligentia News in OilGas.India and China have snapped up the vast majority of Russian oil so far in April at prices above the Western price cap of $60 per barrel, according to traders and Reuters calculations. That means the Kremlin is enjoying stronger revenues despite the West’s attempts to curb funds for Russia’s military operations in Ukraine. A […]
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Iraq To Restart Kurdistan Oil Exports This Week
Posted on April 19, 2023 by Diligentia News in OilGas.Iraq will restart the export of crude oil from the Kurdistan region by the end of the week, the country’s Prime Minister, Mohamed Shia al-Sudani, said, as quoted by Rudaw. The news follows comments made earlier this week by the deputy speaker of the Iraqi parliament, who said Erbil and Baghdad had settled most of […]
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Russia Finds New Market For Its Fuels In The Middle East
Posted on April 19, 2023 by Diligentia News in OilGas.The trade shift in Russian oil flows is benefitting Moscow’s Middle Eastern allies in the OPEC+ pact as the biggest Arab Gulf oil producers, Saudi Arabia and the United Arab Emirates (UAE), scoop up Russia’s fuels at discounted prices. With Western markets essentially shut for Russia’s crude and products, new trade routes have emerged, and […]
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Earnings preview: Oil and gas sector expecting a sleek quarter due to better realisations
Posted on April 19, 2023 by Diligentia News in OilGas.The earnings numbers for the fourth quarter of the financial year gone by (FY23) for the oil and gas sector will be declared this week starting with Reliance on Friday. Sector watchers expect the quarter to be better than the previus one (Q3FY23) riding on realisations. On the other hand, Singapore’s gross refining margins (GRMs) […]
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We have advanced our target to achieve 20% ethanol blending in petrol from 2030 to 2025-26: Petroleum Minister Hardeep Singh Puri
Posted on April 18, 2023 by Diligentia News in OilGas.The government has advanced its target to achieve 20 per cent ethanol blending in petrol from 2030 to 2025-26, Union Minister for Petroleum Hardeep Singh Puri said on Monday. While addressing the Global CBG Conference of the Indian Federation of Green Energy (IFGE) – CBG Producers Forum, Puri said that the Government of India has […]
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Adani-Total’s Dhamra LNG terminal to start commercial operations at May-end
Posted on April 18, 2023 by Diligentia News in OilGas.Adani Group and French company TotalEnergies’ newly built Rs 6,000 crore facility to import LNG at Dhamra on the Odisha coast will start commercial operations at the end of May, the French firm said on Monday. The 5 million tonne a year capacity terminal received its first ever shipment of liquefied natural gas – a […]
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India’s gasoil sales jump in April first half
Posted on April 18, 2023 by Diligentia News in OilGas.Indian state refiners posted an 8.4% rise in sales of gasoil to 3.45 million tonnes in the first half of April compared with the same period last month, preliminary sales data showed, indicating higher demand from the agriculture sector and a recovery in industrial activity. Gasoil accounts for about two-fifths of refined fuel consumption in […]
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Despite LPG & piped gas coverage, 15% of sulphur, CO in Mumbai’s air due to kerosene
Posted on April 18, 2023 by Diligentia News in OilGas.Even though the state is inching close to a kerosene-free status, the existing supply of the combustible oil is far from meeting the Centre’s directive of bringing down the sulphur content from 2.5% (2,500 parts per million) to 0.10% (100 parts per million), a reduction of 96%. As a result, up to 15% of the […]
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Asia’s LNG demand continues to slide
Posted on April 18, 2023 by Diligentia News in OilGas.Asia’s demand for liquefied natural gas (LNG) continued to fall in the first quarter of 2023 compared to last year, despite lower global prices and ongoing gas demand destruction in Europe. Declining LNG imports in the key Asian markets of Japan, China, and South Asia outweighed increasing demand in South Korea, Taiwan, Thailand, and Singapore, […]
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