Category Archives: OilGas
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Libya Eyes First Oil And Gas Licensing Round In Two Decades
Posted on March 10, 2023 by Diligentia News in OilGas.Libya will be ready to hold an oil and gas licensing round next year, Libya’s state-run oil company chief said at CERAWeek, according to Argus. If Libya does manage to hold a licensing round next year, it would be its first in nearly two decades, and would help Libya reach its production goal of 2 […]
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U.S. Recession Fears Put Oil Prices On Course For Significant Weekly Drop
Posted on March 10, 2023 by Diligentia News in OilGas.Fears of a slowdown in the U.S. economy have pressured crude oil prices, setting them for what could end up being their worst weekly performance in five weeks. The slide began on Wednesday and accelerated on Thursday, after Federal Reserve chairman Jerome Powell said the U.S. central bank would continue with its rate hikes as […]
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Europe Set To Raise LNG Imports As Regasification Capacity Jumps
Posted on March 10, 2023 by Diligentia News in OilGas.The EU is boosting its LNG import capacity and is ready to welcome even more LNG cargoes this year and in the coming years, Maros Sefcovic, European Commission Vice President for Interinstitutional Relations and Foresight, said on Thursday. The EU will soon have 35 LNG regasification terminals, up from 27 currently, and the regasification capacity […]
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Adani & Reliance Commit 25 Gigawatts Of Renewable Power In India’s Andhra Pradesh
Posted on March 10, 2023 by Diligentia News in OilGas.Two of the leading industrial conglomerates in India have committed to set up large scale renewable energy projects in the southern state of Andhra Pradesh. Reliance Industries and the Adani Group have reportedly announced plans to set up a total of 25 gigawatts in the state of Andhra Pradesh over the next few years. Neither […]
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How Russian Oil Bulked Up India’s Exports
Posted on March 10, 2023 by Diligentia News in OilGas.India-Russia bilateral trade hit a high of $35 billion in April-December 2022, with $32.8 billion contributed by imports, a 400% jump from $6.5 billion in same period of the previous year. Within imports, petroleum-related products accounted for as much as $27.7 billion, a 700% increase from $3.4 billion a year ago. If foreign trade data […]
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OPEC Is Back In Control Of The Oil Market
Posted on March 10, 2023 by Diligentia News in OilGas.OPEC is once again the most influential force in global oil supply – and will be so for the foreseeable future – now that U.S. shale production growth is slowing, American industry executives say. The days of exponential growth in U.S. oil supply from before the pandemic are over, as capital discipline, returns to shareholders, […]
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India needs to cut green hydrogen production cost to one-third to be able to meet Green Hydrogen goal by 2030
Posted on March 10, 2023 by Diligentia News in OilGas.The Indian government must help cut the cost of Green Hydrogen production to as low as one-third of the current costs, in order to make the industry competitive with other energy sources. It is important that the government take measures to bring down the cost of production from $3-6 per kg currently to less than […]
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A year after the Ukraine invasion, oil market much changed
Posted on March 10, 2023 by Diligentia News in OilGas.A year after Russia’s invasion of Ukraine, the oil market has become more fragmented and uncertain, a dynamic expected to boost crude prices over the long term. Condemnation of Russia by Western governments has essentially severed Europe from Russian supplies, leaving it more reliant on the Middle East and the United States. That shift means […]
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Biden Sets Sights On Scrapping Oil And Gas Subsidies
Posted on March 9, 2023 by Diligentia News in OilGas.The Biden administration is planning to eliminate subsidies for the oil and gas industry in its next budget, Reuters has reported, citing a White House document. The report notes that the suggestion to remove government incentives for the oil and gas industry does not exactly stand a great chance of succeeding in Congress given Republican’s […]
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Govt plans to create carryover stock of ethanol for next year
Posted on March 9, 2023 by Diligentia News in OilGas.The government is planning to create a carryover stock of ethanol for the next year anticipating a rise in demand for E20 fuel in the country, according to a senior food ministry official. E20 fuel is a blend of 20 percent ethanol with petrol. The government aims to achieve the 20 percent ethanol blending target […]
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