Category Archives: OilGas
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Demand For Fuel Tankers Jumps Amid Global Trade Reshuffle
Posted on March 31, 2023 by Diligentia News in OilGas.With global trade being upended by sanctions on Russia while Asia and the Middle East add refining capacity at the expense of the U.S. and Europe, orders for fuel tankers have soared so far this year to the highest in a decade. So far into 2023, a total of 38 mid-range fuel tankers have been […]
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How Oil Prices Have Reacted To Financial Crises Through History
Posted on March 31, 2023 by Diligentia News in OilGas.Once infrequent, financial crises that require dramatic rescues are quickly becoming the norm. Each of the last four U.S. administrations has grappled with an economic crisis serious enough to warrant government intervention. The current banking crisis comes just three years after the Covid-19 pandemic triggered global supply chain disruptions, which itself came a little more […]
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Sanjay Kumar going to be next Director (Marketing) of GAIL
Posted on March 31, 2023 by Diligentia News in OilGas.Sanjay Kumar is set to be next Director (Marketing) of GAIL (India) Limited, a Mahartana PSU under the Ministry of Petroleum & Natural Gas (MoPNG). He has been recommended for the post by the Public Enterprises Selection Board (PESB) panel on Wednesday. Presently, he is serving as Executive Director in the same organisation. Kumar has […]
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Concerns over long-term growth cast shadow on Petronet LNG
Posted on March 31, 2023 by Diligentia News in OilGas.Although the near-term prospects of Petronet LNG (Petronet) look encouraging, growth, in the long run, appears a bit grim. The stock performance has also been underwhelming. The company’s scrip has generated a return of a mere 2 percent in the past month and 4 percent YTD. In the past three years, it is up 16 […]
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America’s LNG Problems Hit Banking Crisis Snags
Posted on March 30, 2023 by Diligentia News in OilGas.The banking crisis that started with the failure of Silicon Valley Bank (SVB) is putting major U.S. LNG projects at risk, as rising interest rates and supply chain issues introduce financial challenges that have already led to delays. According to Reuters, two of four new projects that were slated for final investment decisions in Q1 […]
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Saudi Aramco Bets On Continuous Growth Of Chinese Oil Demand
Posted on March 30, 2023 by Diligentia News in OilGas.The world’s largest crude oil exporter, Saudi Arabia, is betting big on the growing market for crude China, as Saudi oil giant Aramco is strengthening its downstream presence and crude supply market share in the world’s top importer. Saudi Aramco announced this week two major refinery and petrochemical deals in China, which not only give […]
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ONGC to start oil production from KG block in May, gas in 2024
Posted on March 30, 2023 by Diligentia News in OilGas.Oil and Natural Gas Corporation’s (ONGC) delayed Krishna Godavari basin KG-D5 project is likely to start crude oil production in May this year and gas output a year later, a senior company official said. ONGC was originally to start gas production from Cluster-II fields in block KG-DWN-98/2 (KG-D5) in June 2019 and the first oil […]
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PNGRB Notifies Levelized Gas Pipeline Tariff
Posted on March 30, 2023 by Diligentia News in OilGas.The Petroleum and Natural Gas Regulatory Board (PNGRB) has notified a levelized Unified Tariff of Rs.73.93/MMBTU. It and created three tariff zones for Unified Tariff, where the first zone is up to a distance of 300 kms from gas source, second zone is 300 – 1200 kms and third zone is beyond 1200 kms. The […]
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Russia’s Rosneft signs deal to boost oil supplies to India
Posted on March 29, 2023 by Diligentia News in OilGas.Russia’s largest oil producer Rosneft and India’s top refiner Indian Oil Corp have signed a term agreement to substantially increase oil supplies and diversify oil grades delivered to India, Rosneft said on Wednesday. The deal was signed during a working trip to India by Rosneft CEO Igor Sechin, the company said. Igor Sechin, Chief Executive […]
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Cheap Oil Is Fueling Economic Development In Asia
Posted on March 29, 2023 by Diligentia News in OilGas.The collapse of Silicon Valley Bank and Signature Bank shook up the U.S. banking system, possibly more strongly than news reports and government officials made it sound. A run on banks was barely avoided, and far from everyone believed Treasury Secretary Janet Yellen when she said the system was safe and sound. And oil prices […]
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