Category Archives: OilGas
-
A greener fuel alternative: LNG to transform the trucking industry in India
Posted on April 10, 2023 by Diligentia News in OilGas.Governments across the world have recognised that reducing carbon emissions is essential to curtail global warming. Globally, Logistic contributes to 14%-15% of carbon emissions and in that the contribution of heavy-duty trucking is about 90%. Hence, there has been the need for alternative means of green energy that will guard the future of the planet […]
Continue Reading... No Comments. -
India’s Russian oil imports now double of Iraq
Posted on April 10, 2023 by Diligentia News in OilGas.India’s imports of crude oil from Russia touched a new high of 1.64 million barrels per day in March and is now double of the purchases from Iraq – the nation’s traditional top oil supplier. But the purchases appear to have plateaued as growth has slowed. Russia continued to be the single largest supplier of […]
Continue Reading... No Comments. -
The Biggest Losers Of $100 Oil
Posted on April 10, 2023 by Diligentia News in OilGas.The world’s biggest oil exporters will benefit from the surprise OPEC+ production cut, but if oil prices move higher from here and reach $90 or even $100 a barrel, as some analysts predict, oil importers will start to feel the pain. Brent Crude bounced back to $85, and WTI Crude hit $80 per barrel again, […]
Continue Reading... No Comments. -
OPEC’s surprise cut may put India’s resolve to fight economic agonies on greasy field
Posted on April 3, 2023 by Diligentia News in OilGas.Surprise output cut by oil cartel OPEC+ has jolted global policymakers and the looming impact reverberated across asset classes as it fuelled fears of further inflationary pressures at a time of lingering recession worries and threats to the banking sector. This is increasingly worrying for India, because it buys 85% of its crude oil needs […]
Continue Reading... No Comments. -
Oil buyers reel from OPEC+ cuts as they explore alternatives
Posted on April 3, 2023 by Diligentia News in OilGas.Oil refiners in Asia — like the wider crude market — have found themselves caught out by the surprise Saudi-led move to spearhead an OPEC+ production cut, and are now preparing to diversify purchases in the spot market if needed. The shock decision from Riyadh and some of its partners came just before the release […]
Continue Reading... No Comments. -
Goldman Sachs Raises Oil Price Forecast Following OPEC+ Cut
Posted on April 3, 2023 by Diligentia News in OilGas.Hours after OPEC+ announced it would reduce its combined oil production by more than 1 million bpd, Goldman Sachs issued a revision of its oil price forecast, raising it to $95 from $90 at the end of the year for Brent crude. The bank also raised its Brent crude forecast for 2024, now seeing it […]
Continue Reading... No Comments. -
Pakistan to get crude oil from Russia at same discounted price as India
Posted on April 3, 2023 by Diligentia News in OilGas.In a significant move, Pakistan has managed to get the same discount on the import of Russian oil like other nations, including India. This was stated by Pakistan Minister of State for Petroleum Musadik Malik at a Geo News program. According to reports, the minister said that Islamabad will be given same discount like its […]
Continue Reading... No Comments. -
Govt extends export restrictions on petrol, diesel to ensure availability
Posted on April 3, 2023 by Diligentia News in OilGas.In order to secure the availability of refined fuels for the domestic market, the government has increased restrictions on the export of diesel and petrol. This comes after the government’s export restrictions on diesel and petrol ended on Friday. India is the world’s third-largest oil consumer. The government placed a windfall tax on refined petroleum […]
Continue Reading... No Comments. -
Adani’s Dhamra LNG terminal in Odisha receives 1st cargo, to start gas revolution in East
Posted on April 3, 2023 by Diligentia News in OilGas.Adani Group and French company TotalEnergies’ newly built Rs 60 billion LNG import facility at Dhamra on the Odisha coast has received its first ever shipment of liquefied natural gas – a fuel that will be used to make steel, produce fertilizers and turned into CNG and cooking gas, helping change the landscape of Eastern […]
Continue Reading... No Comments. -
Oil Prices Soar As OPEC+ Shocks The Market
Posted on April 3, 2023 by Diligentia News in OilGas.OPEC+ on Sunday surprised oil markets with an announcement that it will reduce its output further, by some 1.16 million barrels daily. Reuters noted in a report that with the new cut, the total output reduction amount from OPEC+ will come in at 3.66 million barrels daily, or 3.7% of global oil demand. The Financial […]
Continue Reading... No Comments.
