Category Archives: OilGas
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GAIL India issues swap tender for LNG cargo
Posted on March 9, 2023 by Diligentia News in OilGas.GAIL (India) Ltd has issued a swap tender offering one liquefied natural gas (LNG) cargo for loading in the United States in exchange for another cargo for delivery to India, said two industry sources on Wednesday. India’s largest gas distributor is offering the cargo for loading from May 21-23 from Cove Point, Maryland, on a […]
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India’s oil deals with Russia dent decades-old dollar dominance
Posted on March 9, 2023 by Diligentia News in OilGas.U.S.-led international sanctions on Russia have begun to erode the dollar’s decades-old dominance of international oil trade as most deals with India – Russia’s top outlet for seaborne crude – have been settled in other currencies. The dollar’s pre-eminence has periodically been called into question and yet it has continued because of the overwhelming advantages […]
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Russian Oil Gets More Pricey as Pool of Asian Buyers Expands
Posted on March 9, 2023 by Diligentia News in OilGas.The price of Russian crude and fuel is rising for buyers in Asia as a pool of bigger customers from China and India expands, putting pressure on smaller refiners that have eagerly consumed the cheap oil. Offer levels for Russia’s Urals and ESPO crude, as well as fuel oil, surged over the past weeks, according […]
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The EU Moves Toward Forming A Natural Gas Buyers’ Cartel
Posted on March 7, 2023 by Diligentia News in OilGas.The European Union will make its first move as a buyers’ group on the international gas market next month as it launches the first tender for suppliers. The tender follows months of discussions on how best to secure natural gas supplies for the 27-member bloc in such a way as to avoid some member states […]
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Iran Claims To Have Found World’s Second-Largest Lithium Deposit
Posted on March 7, 2023 by Diligentia News in OilGas.A major lithium deposit that rises to the level of the world’s second-largest has been found in Iran, the country’s Ministry of Industry, Mines, and Trade said on Iranian state television on Saturday. “For the first time in Iran, a lithium reserve has been discovered in Hamedan,” the Ministry said, adding that it believes the […]
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City gas distributors to gain as spot LNG prices decline
Posted on March 7, 2023 by Diligentia News in OilGas.A steep drop in spot liquefied natural gas (LNG) rates has come as a major respite for city gas distributors in India. Spot LNG prices have fallen to about $14-15 per metric million British thermal units (mmBtu) from average of over $45 per mmBtu in the fiscal second quarter, and average of slightly above $30 […]
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Little gains: India saved just $2 per barrel even after Russia’s deep discounts
Posted on March 7, 2023 by Diligentia News in OilGas.An increase in India’s subsidized purchases of Russian crude following Moscow’s invasion of Ukraine a year ago is likely to save around $2.5 billion in the first three quarters of the current fiscal year, an analysis by IndiaTrade for the period shows. data shows. However, the savings, while substantial for India, are far less than […]
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India’s GAIL seeks two LNG cargoes for April-May delivery
Posted on March 7, 2023 by Diligentia News in OilGas.India’s GAIL GAIL.NS has issued a tender seeking two liquefied natural gas (LNG) cargoes for delivery into India in April and May, two industry sources said on Monday. The country’s largest gas distributor is seeking the LNG cargoes on a delivered ex-ship (DES) basis into the Dahej terminal. The tender will close on March 7, […]
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Oil spill continues despite temporary measures on Cauvery Basin Refinery pipeline in Nagai
Posted on March 6, 2023 by Diligentia News in OilGas.Despite the temporary measures taken to arrest the leakage in the pipeline of the Cauvery Basin Refinery (CBR) of Chennai Petroleum Corporation Limited (CPCL) at Pattinamchery in Nagapattinam district, the oil spill continued to pollute the sea on Saturday. A senior CPCL official reported that the leakage had been clamped as a temporary measure in […]
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Russia’s Oil Revenues Plunged By 48% In February
Posted on March 6, 2023 by Diligentia News in OilGas.Russian tax revenue from crude oil and petroleum products plummeted by 48% in February from a year earlier due to the much lower price of Russia’s flagship crude grade after the EU banned imports of Russian oil, according to Bloomberg estimates based on official Russian data. Total tax revenues from oil and natural gas dipped […]
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