Category Archives: OilGas
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OPEC Secretary General Calls For Coordination Between Oil Exporting Countries
Posted on March 20, 2023 by Diligentia News in OilGas.OPEC’s Secretary General Haitham Al Ghais and Iraq’s Prime Minister met over the weekend and called for coordinated action among oil exporters globally in order to reduce volatility in the oil market and avoid adverse impacts for consuming countries, Reuters reported citing a statement by the Iraqi government. The official spoke during a meeting with […]
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Russia Overtakes Saudi Arabia To Become China’s Top Oil Supplier
Posted on March 20, 2023 by Diligentia News in OilGas.Russia was the single largest crude oil supplier to China in January and February, overtaking Saudi Arabia which was the number-one supplier of oil to China last year, according to Chinese customs data cited by Reuters. As China accelerated the buying of cheap Russian crude oil at discounts to international benchmarks, Chinese imports of crude […]
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Tamil Nadu releases policy for ethanol blending with petrol; focus on encouraging investors to set up units
Posted on March 20, 2023 by Diligentia News in OilGas.The State government has released the Tamil Nadu City Gas Distribution Policy 2023 for the liquefied/ compressed natural gas to vehicles and piped natural gas to homes. In Tamil Nadu, all 38 districts are to be covered with the CGD network through which around 22.8 million PNG connections and around 2,785 CNG stations are to […]
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Is Chinese Demand Growth Now The Only Bullish Driver For Crude?
Posted on March 20, 2023 by Diligentia News in OilGas.China’s recovery is underway, and many anticipate that China’s recovery will mean calls for additional crude oil, bolstering oil prices. But China’s economic reemergence is anything but a sure thing when it comes to oil demand and prices. Household consumption, factory activity, and infrastructure spending all rose in the first two months of the year, […]
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Gas oil jet fuel cracks up
Posted on March 20, 2023 by Diligentia News in OilGas.Asia’s 10-ppm sulphur gasoil margins firmed by almost 15% on week, completely erasing early-week losses, following a rebound in oil futures on Friday. A lack of trading activity at the close of the week kept a lid on gains, against a backdrop of unchanged demand-supply fundamentals. Cash differentials for 10 ppm gasoil sulphur rose by […]
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Hindenburg fallout: Adani Group suspends work on petrochem project worth Rs 349 billion
Posted on March 20, 2023 by Diligentia News in OilGas.The Adani Group has suspended work on a petrochemical project worth Rs 349 billion at Mundra in Gujarat, reported PTI, citing sources. This can be linked with the fact that the company is focusing on resources to consolidate operations and address investor concerns following a damning report by a US-based short seller, PTI sources said. […]
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Why falling global oil prices won’t lower petrol, diesel prices in India – Explanation
Posted on March 20, 2023 by Diligentia News in OilGas.Regardless of falling global oil prices due to banking turmoil in the US, there is hardly any chance of a fall in petrol and diesel prices in India. It would take longer for the oil marketing companies to recover their losses accumulated due to high crude prices earlier. Constant domestic fuel prices amid rising prices […]
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Reliance re-launches auction for natural gas sale in line with new govt rules
Posted on March 20, 2023 by Diligentia News in OilGas.Reliance Industries Ltd and its partner bp plc re-launched an auction for sale of natural gasfrom their eastern offshore KG-D6 block after incorporating the government’s new marketing rules to give CNG-selling city gas companies first priority over supplies. Reliance and its partner BP Exploration (Alpha) Ltd (BPEAL) will sell 6 million standard cubic meters per […]
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OilMin accepts all major Kirit Parikh panel recommendations on gas pricing
Posted on March 20, 2023 by Diligentia News in OilGas.The Petroleum and Natural Gas Ministry has accepted the main recommendations of the Kirit Parikh committee on natural gas pricing, and will be further recommended by them to the Cabinet soon, several officials said. The move is expected to have a significant impact on the energy sector, as the price of natural gas will likely […]
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Four Reasons For Europe’s Record-Breaking Drop In Natural Gas Demand
Posted on March 17, 2023 by Diligentia News in OilGas.Europe’s natural gas demand fell by the most on record last year, with the decline equivalent to the gas volumes required to supply more than 40 million homes, the International Energy Agency (IEA) said in a commentary on Tuesday. Natural gas consumption in OECD Europe fell by an estimated 13% in 2022, its steepest decline […]
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