Category Archives: OilGas
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How coal gasification can help India reduce its oil & gas import
Posted on February 15, 2023 by Diligentia News in OilGas.India has been blessed with large coal deposits, especially in the eastern part of the country. Recent reforms in the coal sector, like commercial coal block auctions, engagement of MDO by Coal India Limited (CIL) for faster development of Greenfield projects, single-window system developed by the Ministry of Coal for the faster clearances, auction of […]
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Clean fuel. Indian PSU refiners to set up 137,000 tpa green hydrogen facility by 2030
Posted on February 14, 2023 by Diligentia News in OilGas.The Indian public sector oil refineries have together planned to set up 137 kilo tonnes per annum (ktpa) of green hydrogen facilities by 2030. This was revealed by Dr S S V Ramakumar, Director – R&D, Indian Oil Corporation, at the India Energy Week, held recently in Bengaluru. Participating in a panel discussion on green […]
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Indian refiners may buy Russian fuel, export own
Posted on February 14, 2023 by Diligentia News in OilGas.Some Indian refiners are planning to import Russian diesel and other refined products for domestic consumption so they can free up locally produced fuels for export to the West, which has nearly stopped taking refined products from Russia, according to people familiar with the matter. The European Union has banned the import of refined petroleum […]
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Reliance seeks $12.75 for CBM gas, ONGC wants $9.35
Posted on February 14, 2023 by Diligentia News in OilGas.Billionaire Mukesh Ambani’s Reliance Industries Ltd and state-owned Oil and Natural Gas Corporation (ONGC) are separately auctioning natural gas extracted from coal seams at prices linked to Brent crude oil price. Reliance is seeking a minimum USD 12.75 per million British thermal unit for coal bed methane (CBM) from a block in Shahdol district of […]
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Russia To Sell Most Of Its Oil To “Friendly” Countries: Novak
Posted on February 14, 2023 by Diligentia News in OilGas.Russia’s Deputy Prime Minister Alexander Novak announced the country’s plans to sell more than 80% of its crude oil exports to “friendly” countries this year. These “friendly” countries include countries such as China and India, which haven’t participated in product bans, sanctions against Russia, and oil and oil product price capping—as well as Sri Lanka, […]
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Low Natural Gas Prices Could Cause A Supply Crunch
Posted on February 14, 2023 by Diligentia News in OilGas.Earlier this month, the benchmark price for U.S. natural gas fell below $3 per million British thermal units for the first time in almost two years. Forecasts are that it will remain below $3 until at least the middle of the year. The natural gas price drop is already forcing producers to taper production plans […]
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Seven EU Countries Oppose ‘Radical’ Changes To The Energy Market
Posted on February 13, 2023 by Diligentia News in OilGas.A group of seven EU member states is calling on the European Commission to think twice before proposing a major overhaul in the EU energy and power market systems, citing concerns that “crisis mode” changes could weaken the single market and deter investments in renewables. “Any reform going beyond targeted adjustments to the existing framework […]
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Why Russia Finally Decided To Cut Its Oil Production
Posted on February 13, 2023 by Diligentia News in OilGas.Just before announcing a 500,000 bpd production cut, Russia’s Deputy Prime Minister Alexander Novak had warned that there was a risk of lower oil production this year. That risk, Novak said, was due to the EU import bans and the price caps on Russian crude and petroleum products. “Yes, there are such risks. But we […]
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India’s solar boom reverses gas momentum, cements coal use: Maquire
Posted on February 13, 2023 by Diligentia News in OilGas.India’s rapid advances in solar power production have been widely celebrated for showing how fast-developing economies can accelerate the decarbonisation of their energy systems without jeopardising economic growth. But while the pace of India’s solar rollout has been impressive, the advances have come mainly at the expense of natural gas – they have had little […]
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Big Oil’s Back In Fashion
Posted on February 13, 2023 by Diligentia News in OilGas.Over the past couple of weeks, Big Oil majors reported a string of record profits for 2022. This was no surprise after an even longer string of record quarterly income reports as oil and gas prices soared during much of the year. What was a surprise was an apparent change in investors’ sentiment towards their […]
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