Category Archives: OilGas
-
OMCs face Rs 50 billion in under-recovery in Q4FY23: Nomura
Posted on February 23, 2023 by Diligentia News in OilGas.Oil marketing companies (OMCs) such as Bharat Petroleum (BPCL), Hindustan Petroleum (HPCL) and Indian Oil (IOCL) may have to bear an under-recovery of Rs 50 billion (Rs 50 billion) on the sale of auto fuels in the fourth quarter of this fiscal, brokerage firm Nomura has said. This is significantly lower than the under-recovery numbers […]
Continue Reading... No Comments. -
India’s Dependency on Imported Crude Oil Rises To 87 % during current FY
Posted on February 23, 2023 by Diligentia News in OilGas.A robust recovery in the demand for fuel and other petroleum products amid flat domestic crude output has led to India’s dependency on imported crude rising to 87 per cent in April-January from 85.3 per cent in the year-ago period, latest data released by the Petroleum Planning & Analysis Cell (PPAC) showed. The data suggests […]
Continue Reading... No Comments. -
We have many plans in energy sector with India: Saudi Energy Minister
Posted on February 21, 2023 by Diligentia News in OilGas.Riyadh (Saudi Arabia), February 20 (ANI): Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman on Monday said that Saudi Arabia has many plans in the energy sector in close coordination with India and these will come to light soon. The Minister made the statement while speaking to ANI on the sidelines of the two-day 2nd […]
Continue Reading... No Comments. -
At 8.96% CAGR, India Biodiesel Market Size to Hit US$ 588.8 Million in 2027
Posted on February 21, 2023 by Diligentia News in OilGas.The latest research study “India Biodiesel Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the India biodiesel market size reached US$ 360.1 Million in 2021. Looking forward, IMARC Group expects the market to reach US$ 588.8 Million by 2027, exhibiting a growth rate (CAGR) of 8.96% during 2022-2027. […]
Continue Reading... No Comments. -
EU Gas Price Cap: An Exercise in Futility
Posted on February 21, 2023 by Diligentia News in OilGas.Last week, the European Union saw a cap on natural gas prices come into effect in hopes of curbing the risk of a repeat of last year’s eye-watering gas price jump to more than $350 per megawatt-hour. That spike in prices, which occurred in the summer after the Nord Stream pipeline—the biggest conduit of Russian […]
Continue Reading... No Comments. -
GAIL India seeks three LNG cargoes for March-May delivery
Posted on February 21, 2023 by Diligentia News in OilGas.GAIL (India) Ltd GAIL.NS has issued a tender to buy three cargoes of liquefied natural gas for delivery into India, said two industry sources on Monday. India’s largest gas distributor is seeking one cargo per month from March to May on a delivered ex-ship (DES) basis into the country’s Dabhol terminal. The tender closes on […]
Continue Reading... No Comments. -
India’s Russian Oil Imports Surge To A Record 1.4 Million Barrels Per Day In January
Posted on February 21, 2023 by Diligentia News in OilGas.India’s Russian oil imports climbed to a record 1.4 million barrels per day (bpd) in January, up 9.2% from December, with Moscow still the top monthly oil seller to New Delhi, followed by Iraq and Saudi Arabia, data from trade sources showed. Last month Russian oil accounted for about 27% of the 5 million bpd […]
Continue Reading... No Comments. -
The IEA Warns Of A Potential Natural Gas Shortage Next Winter
Posted on February 20, 2023 by Diligentia News in OilGas.Tight production capacity for liquefied natural gas could lead to shortages next winter, the head of the International Energy Agency, Fatih Birol, has warned. As gas demand from China begins to recover, competition for LNG supply will increase, creating the risk of shortages, Birol told Reuters on the sidelines of the Munich Security Conference. The […]
Continue Reading... No Comments. -
Rising energy prices fuel economic growth in Middle East and North Africa
Posted on February 20, 2023 by Diligentia News in OilGas.The global oil and gas market has remained resilient in the face of increased uncertainty due to the ongoing Russia-Ukraine conflict, rising interest rates and a host of other factor. For oil-producing countries in the Middle East and North Africa, the rise in oil and gas prices is helping fuel economic growth. Although oil revenues […]
Continue Reading... No Comments. -
India Garners Pricing Benefits of Crude Oil Imports From Russia
Posted on February 20, 2023 by Diligentia News in OilGas.ndia till now is on a firm track of sourcing oil cheaply from Russia since the latters invasion on Ukraine. This is against the wishes of the western powers who want to being down the Russian economy by curbing its oil revenue. Nevertheless, the Indian Government has categorically said that it would source what it […]
Continue Reading... No Comments.
