Category Archives: OilGas
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European Industry Boosts Natural Gas Consumption As Prices Drop
Posted on March 24, 2023 by Diligentia News in OilGas.As natural gas prices in Europe fell to a 20-month low, industries are switching back to using gas in a tentative sign that European industrial gas demand is rising. The front-month futures at the TTF hub, the benchmark for Europe’s gas trading, slumped earlier this week to below 40 euros ($43.52) per megawatt-hour (MWh), the […]
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Bangladesh Govt to procure 3.360 million MMBtu LNG
Posted on March 24, 2023 by Diligentia News in OilGas.The Cabinet Committee on Government Purchase (CCGP) today approved separate proposals for procuring 3.360 million MMBtu LNG and 70,000 metric tonnes of fertilizer to meet the growing demand. The approvals came from the 11th meeting of the CCGP held on Thursday virtually with Finance Minister AHM Mustafa Kamal in the chair. Briefing reporters after the […]
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India’s Feb crude oil imports jump 8% as demand hits over 2 decade high
Posted on March 24, 2023 by Diligentia News in OilGas.India’s imports of crude oil in February rose about 8% from a year earlier, government data showed on Wednesday, as fuel demand hit over 2-decade highs in the world’s third-biggest oil importer and consumer. Rising crude demand and a strong Indian economy bodes well for higher refinery runs and imports, in addition to cheaper Russian […]
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Former Russian unit commits 4 LNG cargoes to India
Posted on March 24, 2023 by Diligentia News in OilGas.A former unit of Russian energy giant Gazprom will supply 4 shiploads of LNG to state-owned GAIL (India) Ltd for the first time since it halted supplies in May last year, Union minister Rameswar Teli said on Thursday. SefeMarketing and Trading Singapore Pte Ltd (SMTS), erstwhile Gazprom Marketing and Trading Singapore Pte Ltd, will “supply […]
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Brent plunge fails to displace Russian crude for Asian buyers
Posted on March 24, 2023 by Diligentia News in OilGas.A plunge in Brent crude prices has narrowed the spread between Atlantic Basin and Middle East benchmarks but has failed to spur interest from Asian refiners, which are instead buying up discounted Russian oil, leaving an overhang in African supply. Global oil benchmark Brent tumbled more than 10% over the past two weeks, touching a […]
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Former Russian unit commits 4 LNG cargoes to India
Posted on March 24, 2023 by Diligentia News in OilGas.A former unit of Russian energy giant Gazprom will supply 4 shiploads of LNG to state-owned GAIL (India) Ltd for the first time since it halted supplies in May last year, Union minister Rameswar Teli said on Thursday. SefeMarketing and Trading Singapore Pte Ltd (SMTS), erstwhile Gazprom Marketing and Trading Singapore Pte Ltd, will “supply […]
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Big Oil Petitions Brazilian Court To Suspend New Oil Tax
Posted on March 23, 2023 by Diligentia News in OilGas.Five international oil companies active in Brazil have petitioned a federal court to suspend the 9.2% tax on crude oil exports that new president Ignacio Lula da Silva introduced soon after he came into office, angering the industry. According to the government, the new tax will serve to attract more investments in the country with […]
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BHEL signs MoU with IGL on March 22
Posted on March 23, 2023 by Diligentia News in OilGas.State-owned Bharat Heavy Electronics Limited (BHEL) said in a regulatory filing that it has inked an MoU with Indraprastha Gas Limited (IGL) on Wednesday. The company signed the MoU for “Joint collaboration for development, manufacturing & deployment of Type-IV Cylinders (CNG and/or Hydrogen), Hydrogen blending in city gas distribution (CGD) and Fuel cell-based power backup […]
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India’s LNG imports continue to rise
Posted on March 23, 2023 by Diligentia News in OilGas.India’s liquefied natural gas (LNG) imports rose for the second month in a row in February, according to the preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell. The country imported 2.25 billion cubic meters or about 1.66 million tonnes of LNG in February, a rise of 11 percent when compared to the […]
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Why The Brent Price Plunge Hasn’t Attracted Asian Buyers
Posted on March 22, 2023 by Diligentia News in OilGas.Asia continues to prefer buying cheaper Russian oil and hasn’t turned to Brent-linked cargoes from the Atlantic Basin despite the recent 10% slump in Brent oil prices, which has narrowed Brent’s premium over Middle Eastern benchmarks to the lowest in over two years, traders told Reuters. Brent Crude prices have plunged by around 10% since […]
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