Category Archives: OilGas
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Rising power demand pushes India’s LNG terminal utilisation higher in 2024
Posted on May 28, 2025 by Diligentia News in OilGas.India’s LNG imports rose by more than 19% to 26.15 mt in 2024 against 21.96 mt in 2023 A searing summer coupled with prolonged heat waves accelerated India’s power demand last year with the world’s third largest energy consumer enhancing gas-based electricity generation, leading to higher utilisation at LNG terminals compared to 2023 and 2022. […]
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Oil Prices Under Pressure From the Prospect of Another OPEC+ Hike
Posted on May 27, 2025 by Diligentia News in OilGas.Crude oil prices slid further today after a weak start to the week, following reports that OPEC+ was discussing a greater than originally planned production hike for July. These reports have been circulating for a few days now, fueling pessimism among traders and forecasters. At the time of writing, Brent crude was trading at $64.60 […]
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Goldman Sachs Doubles Down on Bearish Oil Outlook Despite Rising Demand
Posted on May 27, 2025 by Diligentia News in OilGas.Goldman Sachs analysts issued yet another update to their oil price forecast, reiterating expectations of weaker prices this year and next, on the back of substantial growth in non-OPEC supply—excluding U.S. shale. In a note, the analysts said “oil production growth from non-OPEC ex Russia ex shale top projects will likely accelerate to 1MB/d over […]
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GAIL issues swap tender for two LNG cargoes, sources say
Posted on May 27, 2025 by Diligentia News in OilGas.GAIL (India) Ltd has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two deliveries to India, two industry sources said Share This
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India Fears Oil Spill as Cargo Ship Sinks in Arabian Sea
Posted on May 26, 2025 by Diligentia News in OilGas.Indian authorities and coast guard were mobilized on Monday to contain an oil spill after a cargo ship sank off India’s West coast this weekend, leaking marine fuel and fuel from containers. Liberia-flagged container vessel MSC ELSA 3 sent a distress signal to authorities on Saturday, May 24, the Indian Coast Guard said. The vessel […]
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Aramco Considers Asset Sales to Raise Cash
Posted on May 26, 2025 by Diligentia News in OilGas.Saudi Aramco is reportedly exploring asset sales as a means of increasing the availability of funds to fuel its international expansion and existing operations, according to unnamed sources who spoke to Reuters. The sources told the publication that the Saudi state major had asked investment banks to come up with ideas on how best to […]
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Oil Prices Rise as Trump Extends EU Tariff Deadline
Posted on May 26, 2025 by Diligentia News in OilGas.Crude oil prices began trade with a gain this week following the news that President Donald Trump had extended the deadline for a trade deal with the European Union to early July. The extension was granted to Brussels after Commission president Ursula con der Leyen said the EU needed more time to draft a deal […]
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Saudi Aramco eyes asset sales for expansion amid lower oil prices: Report
Posted on May 26, 2025 by Diligentia News in OilGas.Saudi state oil giant Aramco is exploring potential asset sales to free up funds, two people with knowledge of the matter said, as it pursues an international expansion and weathers lower crude prices. Aramco is the world’s largest oil-producing company and the main source of Saudi state revenue. The firm will slash dividend payouts by […]
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China’s Oil Demand to Peak Within 5 Years as India’s Continues to Climb
Posted on May 23, 2025 by Diligentia News in OilGas.China’s decades-long reign as the world’s top oil demand driver is nearing its end, according to new research published by Moody’s Investors Service demonstrating that China’s crude demand is expected to peak within the next 3–5 years, while India will continue to hold the lead in global oil demand growth through at least 2030. Moody’s […]
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Asian Buyers Increase Purchases of Murban Oil
Posted on May 23, 2025 by Diligentia News in OilGas.A substantial drop in the spot market price for Emirati crude has triggered a demand surge from Asia, Reuters reported today, citing data for a record trade of 10 million barrels of Murban crude on an S&P Global Platts market-of-close basis this month. “Asian markets have been oversupplied with light grades for most of this […]
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