Category Archives: OilGas
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Compressed biogas expansion to help India meet its energy needs: Oil Minister Puri
Posted on April 18, 2023 by Diligentia News in OilGas.Union Minister of Petroleum and Natural Gas Hardeep Singh Puri said speedy expansion of compressed biogas (CBG) will help India in meeting its additional energy requirements from domestic sources. India is dependent on imports for 85 percent of its crude oil needs and over 50 percent of its natural gas requirements. Speaking at the Global […]
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Iraq’s Oil Exports Still Seeing 450,000 bpd Hiccup
Posted on April 17, 2023 by Diligentia News in OilGas.Turkey still hasn’t resumed the flow of crude oil from Iraq, with 450,000 bpd in Iraqi oil exports still offline, anonymous sources told Reuters on Friday. The International Chamber of Commerce (ICC) ruled three weeks ago that Turkey must pay Iraq $1.5 billion in damages for receiving oil from the semi-autonomous Kurdistan region in Iraq […]
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Green measures. Clean energy transition panel: Ban diesel 4-wheelers in cities with million-plus pollution by 2027
Posted on April 17, 2023 by Diligentia News in OilGas.The Energy Transition Advisory Committee (ETAC), which was tasked by the Centre with creating a clean energy transition roadmap, has suggested banning diesel-operated four-wheelers from million-plus populated cities by 2027. The panel, chaired by former Oil Secretary and Advisor to Prime Minister Tarun Kapoor, also suggested not adding any more diesel-operated city buses in urban […]
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Russia’s oil export hit near three-year high in March despite Western sanctions
Posted on April 17, 2023 by Diligentia News in OilGas.Moscow’s exports of crude oil and oil products rose in March to their highest level since April 2020, jumping by 600,000 barrels a day, the International Energy Agency (IEA) said in its monthly oil report in April 14. The rise lifted Russia’s estimated revenue from oil exports to $12.7 billion last month. While Russia’s oil […]
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Oil Prices On Track For A Fourth Consecutive Weekly Gain
Posted on April 14, 2023 by Diligentia News in OilGas.Crude oil prices are about to record their fourth consecutive week of gains after OPEC said in its monthly report that supply is about to tighten further. The latest Monthly Oil Market Report showed OPEC’s combined daily average output at 28.8 million barrels for March, which was 86,000 bpd less than the average for February. […]
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Asia Spot LNG Prices Hit 21-Month Low
Posted on April 14, 2023 by Diligentia News in OilGas.South and Southeast Asia are tentatively returning to the spot LNG market as prices have dipped from record highs in August to the lowest in nearly two years. India, Pakistan, Bangladesh, and Thailand were more active on the market last month than in February, looking to import cheaper LNG. Chinese demand also ticked up in […]
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Urja Ganga pipeline takes cheaper gas to hinterland
Posted on April 14, 2023 by Diligentia News in OilGas.The ‘Urja Ganga’ pipeline, India’s most ambitious project taking environment-friendly gas to so-far untouched areas, has taken the benefit of lower natural gas prices to the hinterland, helping expand adoption of the cleaner fuel, official sources said. Traditionally, natural gas was available for use as fuel to generate electricity, make fertilizer or turn into CNG […]
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GAIL seeks LNG cargo for May delivery to Dhamra terminal
Posted on April 14, 2023 by Diligentia News in OilGas.Adani Total, in which French oil and gas major TotalEnergies has a 50% stake, has a 20-year take-or-pay contract to provide regasification services to state-run Indian Oil Corp (IOC) for 3 million tonnes of LNG per year at the Dhamra terminal. GAIL has a similar deal for 1.5 million tonnes per year. Share This
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Russian oil to India may be hit by OPEC and drive for higher prices
Posted on April 13, 2023 by Diligentia News in OilGas.The drive by OPEC and its allies to boost oil prices is lifting Russian crude along with it, prompting concerns from India’s banks that cargoes could breach the $60-a-barrel cap. State Bank of India and Bank of Baroda informed refiners they will not handle payments for oil bought above the limit, said a refinery executive […]
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Russia’s flagship oil is moving ever closer to $60 per barrel cap
Posted on April 13, 2023 by Diligentia News in OilGas.The price of Russia’s flagship Urals crude at the point of export is getting closer to the $60 limit, data from Argus Media Ltd. The price of Russian oil is nearing a threshold that could create complications for the country’s biggest buyers. The Group of Seven nations last year imposed a cap of $60 a […]
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