Category Archives: OilGas
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GAIL: Upbeat On Recovery
Posted on March 28, 2023 by Diligentia News in OilGas.GAIL’s MD Mr. Sandeep Kumar Gupta expects: 1) Tariff unification to lower risk in the Pipeline business and improve its EBITDA / ROCE by ~45%/200bps respectively. 2) Normalization of prices should lead to pick up in gas demand in India (~6% p.a. growth). 3) To sign new LNG contracts at attractive prices to sell in […]
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Russia Could Seek Compensation Over Nord Stream Sabotage
Posted on March 27, 2023 by Diligentia News in OilGas.Russia could demand compensation for damages over the sabotaged Nord Stream gas pipelines in the Baltic Sea, a senior Russian diplomat told Russian news agency RIA Novosti in an interview. “We do not rule out raising the issue of compensation for damages as a result of the explosion of the Nord Stream gas pipelines,” Dmitry […]
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Saudi Aramco To Build $10 Billion Refinery And Petrochemical Complex In China
Posted on March 27, 2023 by Diligentia News in OilGas.Saudi Aramco plans to build a $10-billion refining and petrochemical complex in China over the next three years, taking advantage of the country’s growing demand for energy. The complex will have a capacity of 300,000 barrels of crude daily, Aramco said in a news release. The Saudi major will supply 201,000 barrels per day to […]
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Russia may have found buyers for its oil but aging tankers pose a new risk
Posted on March 27, 2023 by Diligentia News in OilGas.The oil tanker Turba normally should have been melted down by now. The 26-year-old vessel hasn’t had a full inspection since 2017, according to a database dedicated to promoting safe shipping. It also lacks industry standard insurance and sails under the flag of country with a poor standing for the oversight of maritime safety. But […]
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India considers strategic LNG reserve to avoid future shortages
Posted on March 27, 2023 by Diligentia News in OilGas.India is considering building a strategic reserve of liquefied natural gas to guard against future price spikes or supply shortages after last year’s energy crisis, according to a senior executive at the nation’s top importer. The government has “proposed we should have more storage space for LNG so that when prices are lower we should […]
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Spain Calls On Importers Not To Sign New LNG Deals With Russia
Posted on March 27, 2023 by Diligentia News in OilGas.The Spanish government has urged importers of liquefied natural gas not to sign new deals to purchase Russian LNG as the biggest buyer of Russia’s LNG in Europe looks to reduce dependence on Moscow’s gas, sources familiar with the matter told Bloomberg on Friday. The government of Spain, via Deputy Prime Minister Teresa Ribera who […]
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Banking Crisis Has Triggered Capital Flight From Oil To Gold
Posted on March 27, 2023 by Diligentia News in OilGas.The sudden collapse of Silicon Valley Bank has sent shockwaves through the entire financial sector and marked the biggest bank failure since the 2008 financial crisis. Being the only publicly traded bank focused on Silicon Valley and startups for four decades, the swift collapse has particularly rattled the venture capital community and left climate tech […]
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Natural Gas Prices See Yet Another Weekly Decline
Posted on March 27, 2023 by Diligentia News in OilGas.Natural gas prices are up on the day, but they are once again down on the week—the third week running—as unseasonably warm weather dampened prospects for one more demand push in the United States. Natural gas prices were trading up on the day to $2.191 (+1.81%), but prices week to week are down. Natural gas […]
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India stands to benefit with softening of oil prices
Posted on March 27, 2023 by Diligentia News in OilGas.World oil prices have been moderating in recent weeks, thereby deepening the softening trend that began in mid-2022. After reaching a peak of 124 dollars per barrel last June, prices have slowed down gradually to around 100 dollars in the second half of the year. For the past few months, however, crude oil had been […]
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Cabinet to consider price caps on gas to stave off rates rising to USD 10.7 per mm
Posted on March 27, 2023 by Diligentia News in OilGas.The Union Cabinet is likely to soon consider imposing caps or a ceiling on price for majority of natural gas produced in the country to keep input costs for users ranging from CNG to fertilizer companies in check, sources said. The government bi-annually fixes prices of locally produced natural gas — which is converted into […]
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