Category Archives: OilGas
-
India’s revised gas pricing formula to aid demand, upstream profit stability: Fitch
Posted on April 13, 2023 by Diligentia News in OilGas.India’s decision to limit prices of domestic natural gas from legacy fields to between $4 per million British Thermal Unit (mmbtu) and $6.5 will support margins for city gas distributors, encourage the use of gas, and reduce cash flow volatility for upstream producers, Fitch Ratings said on Wednesday. “We expect a partial pass-through of the […]
Continue Reading... No Comments. -
India continues to waive transmission costs for green hydrogen plants
Posted on April 13, 2023 by Diligentia News in OilGas.According to a government official, India has extended a waiver of transmission fees for renewable energy to hydrogen production plants that start up before January 2031 in order to become the world’s cheapest producer of the fuel. The move is intended to lower the cost of green hydrogen – hydrogen produced by splitting water with […]
Continue Reading... No Comments. -
Cheaper spot LNG prices tempt some Asian buyers amid supply gains
Posted on April 13, 2023 by Diligentia News in OilGas.Cheaper spot prices for liquefied natural gas (LNG) are luring price-sensitive buyers back in Asia, with China and India recording rising imports in March. The spot price of LNG for delivery to north Asia was $12.50 per million British thermal units (mmBtu) in the week to April 6, steady from the previous week, which was […]
Continue Reading... No Comments. -
IEA Warns Saudi Arabia’s Oil Production Cut Plan To Tighten Indian Economy
Posted on April 13, 2023 by Diligentia News in OilGas.The International Energy Agency (IEA) warns of a potential burden on the Indian economy due to Saudi Arabia’s oil production cut plan, predicting tight global markets in the second half of the year. In response to a question about the potential impact of Saudi Arabia’s oil production cut on countries like India, stated, Fatih Birol, […]
Continue Reading... No Comments. -
Oil Prices Return To Recent Highs
Posted on April 12, 2023 by Diligentia News in OilGas.The price of crude oil returned on Tuesday to the recent highs seen after OPEC+ announced it would cut production by another 1.6 million barrels per day. On April 2, OPEC+ announced that it would cut its crude oil production by another 1.66 million barrels per day (including the 500,000 bpd Russian production cut) on […]
Continue Reading... No Comments. -
EIA Expects An Oil Market Surplus Despite OPEC+ Cuts
Posted on April 12, 2023 by Diligentia News in OilGas.Despite OPEC+’s surprise production cut, the global oil market will remain in surplus this year and next as demand growth could be hurt by lower-than-expected economic growth in the coming months, the U.S. Energy Information Administration (EIA) said in its latest Short-Term Energy Outlook (STEO). The latest forecasts include declining production in OPEC and Russia, […]
Continue Reading... No Comments. -
Iraqi oil to India gets cheaper as competition From Russia bites
Posted on April 12, 2023 by Diligentia News in OilGas.The price of crude from Iraq averaged $76.19 a barrel, compared with $78.92 in January, according to data published by India’s ministry of commerce and industry. Russian supplies averaged $72.14, marginally lower than January. India and China emerged as a key consumers of Russian crude after many other buyers shunned its barrels due to the […]
Continue Reading... No Comments. -
Urja Ganga pipeline takes cheaper gas to hinterland
Posted on April 12, 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 […]
Continue Reading... No Comments. -
LNG developer Tellurian seeks investors
Posted on April 12, 2023 by Diligentia News in OilGas.The proposed Driftwood LNG terminal in the state of Louisiana is slated to begin production in 2027, with an annual capacity of roughly 11 million tonnes in the first phase. Japanese and Indian companies are showing interest, Simoes said, adding that Tellurian is also in contact with oil majors and upstream companies. Tellurian, which plans […]
Continue Reading... No Comments. -
Oil and Natural Gas Co to bet on deepwater oil as India seeks to cut import
Posted on April 12, 2023 by Diligentia News in OilGas.India, with a fast-growing appetite for crude, is eager to reduce its fuel import bill and bolster energy security, and has encouraged companies like state-controlled ONGC to do more India’s Oil and Natural Gas Corp. is preparing to bet billions of dollars on deepwater and ultra-deepwater exploration, boosting spending in a push that could help […]
Continue Reading... No Comments.
