Category Archives: OilGas
-
Record Profit Season Is Over For U.S. Shale
Posted on February 28, 2023 by Diligentia News in OilGas.Record profits – that would be the best summary of the state of the global oil industry last year. From Big Oil majors to U.S. shale independents, everyone made money from the oil and gas price rally sparked by the war in Ukraine. But the party seems to be over, at least for shale drillers. […]
Continue Reading... No Comments. -
Construction Of India-Nepal Petroleum Pipeline Reaches Final Stage
Posted on February 27, 2023 by Diligentia News in OilGas.The construction of infrastructure for importing petrol and kerosene through the Motihari-Amlekhganj petroleum pipeline has reached its final stage. Nepal Oil Corporation (NOC) and Indian Oil Corporation (IOC) have also started the infrastructure construction work required to supply petrol and kerosene through pipelines at Amlekhganj depot. Pradeep Kumar Yadav, Head of Madhesh Regional Office of […]
Continue Reading... No Comments. -
Russia halts oil supply to Poland
Posted on February 27, 2023 by Diligentia News in OilGas.Warsaw, Feb 26 (IANS) Russia has halted oil supplies to Poland via the Druzhba pipeline, Poland’s leading oil and gas conglomerate PKN Orlen said. Local media reported that the supply halt through the pipeline, exempted from the sanctions imposed by the European Union on Russia following the Russian special military operation in Ukraine, came a […]
Continue Reading... No Comments. -
IOC to set up green hydrogen plants at all refineries; lines up Rs 2000 billion for net zero by 2046
Posted on February 27, 2023 by Diligentia News in OilGas.India’s top oil firm IOC will set up green hydrogen plants at all its refineries as it pivots a Rs 2000 billion green transition plan to achieve net-zero emissions from its operations by 2046, its chairman Shrikant Madhav Vaidyasaid. Indian Oil Corporation (IOC) is remodelling business with an increased focus on petrochemicals to hedge volatility […]
Continue Reading... No Comments. -
China Secures Two Long-Term LNG Deals With U.S. Producer
Posted on February 24, 2023 by Diligentia News in OilGas.A Chinese company has sealed two 20-year LNG purchase deals with Venture Global, which will see the latter supply two million tons of liquefied gas to China Gas Holdings annually, beginning in 2027. The gas will come from Venture Global’s two projects in Louisiana, Reuters has reported, Plaquemines LNG and CP2 LNG. The Plaquemines LNG […]
Continue Reading... No Comments. -
India expects fuel demand to grow 4.7% in FY24
Posted on February 24, 2023 by Diligentia News in OilGas.Fuel consumption in 2023-24, a proxy for oil demand, could rise to 233.8 million tonnes from the revised estimate of 222.9 million tonnes for the current fiscal year ending in March, according to government forecasts by Reuters. By Reuters: India’s fuel demand is likely to grow 4.7% in the next fiscal year beginning on April […]
Continue Reading... No Comments. -
Jio-BP to sell bio-CNG, compressed biogas
Posted on February 24, 2023 by Diligentia News in OilGas.Jio-bp, a fuel retail joint venture between Reliance Industries and British oil major BP, will shortly begin retailing compressed biogas (CBG) and bio-CNG (B-CNG), both of which can be used in place of compressed natural gas in CNG-powered vehicles. To begin with, the company will retail CBG and B-CNG at its outlets in western India, […]
Continue Reading... No Comments. -
ADNOC Expects To Raise $2 Billion By Listing Its Natural Gas Business
Posted on February 23, 2023 by Diligentia News in OilGas.The United Arab Emirates’ state oil and gas major, ADNOC, has said it expects to raise some $2 billion from the listing of its gas business. The price range for the IPO would give the business a market valuation of between $47 billion and $50.8 billion, Reuters reported. If the offering ends up at the […]
Continue Reading... No Comments. -
Saudi Arabia’s Oil Revenues Hit $326 Billion In 2022
Posted on February 23, 2023 by Diligentia News in OilGas.Saudi Arabia received as much as $326 billion in oil revenues for 2022, its biggest oil sales haul in the era of Crown Prince Mohammed bin Salman, although monthly revenues have been lower in recent months after oil prices slid to around $80 per barrel at the end of last year. Saudi Arabia recorded its […]
Continue Reading... No Comments. -
Levy 5% GST on natural gas to reduce fertiliser subsidy
Posted on February 23, 2023 by Diligentia News in OilGas.Finance minister Nirmala Sitharaman has said that the tax rate for five petroleum goods – crude oil, natural gas, petrol, diesel and aviation turbine fuel (ATF) – can be fixed under the Goods and Services Tax (GST) as soon as the states give their consent at a GST Council meeting. GST is a ‘single tax’ […]
Continue Reading... No Comments.
