Category Archives: OilGas
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Plans to revive LNG pipeline to Link India to Myanmar
Posted on February 8, 2023 by Diligentia News in OilGas.India plans to construct a liquefied natural gas (LNG) pipeline connecting the country to Myanmar and Bangladesh to secure its energy source and counter China’s growing dominance in the region, two people privy to the developments revealed, according to a Daily Observer report. This idea was first discussed back in 2005-06 but was shelved after […]
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India Looks To Boost Natural Gas Consumption With Long-Term LNG Deals
Posted on February 7, 2023 by Diligentia News in OilGas.India plans to secure long-term deals for the supply of liquefied natural gas in a bid to reduce the share of coal in its energy mix. The biggest gas importer on the subcontinent, Petronet, is looking to secure some 12 million tons of LNG annually in additional supply under long-term deals, Bloomberg reported, citing the […]
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India Predicts 500% Increase In Domestic Natural Gas Demand
Posted on February 7, 2023 by Diligentia News in OilGas.Indian Prime Minister Narendra Modi on Monday projected that the country’s gas demand would rise 500% due to the rapid pace of development, while its share of global oil demand would more than double. While the Indian prime minister did not offer a specific time frame for this major boost in demand, he said that […]
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Will OPEC+ Abandon Its Output Cuts Amid Soaring Chinese Demand?
Posted on February 7, 2023 by Diligentia News in OilGas.A strong rebound in China’s oil demand this year may lead to the OPEC+ group reconsidering its production targets and quotas, according to the International Energy Agency (IEA). China’s reopening is putting upward pressure on global oil demand, and half of this year’s demand growth is set to come from the Chinese growth in consumption, […]
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India plans joint venture, PPP mode to build strategic gas reserve
Posted on February 7, 2023 by Diligentia News in OilGas.India’s planned strategic gas reserve may come up as a joint venture of public sector companies or as a public-private partnership (PPP), two people familiar with the discussions said. The reserve may be set up as a separate entity on the lines of the Indian Strategic Petroleum Reserve Ltd (ISPRL), which can store 5.33 million […]
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Russia ready to meet India’s oil needs at ‘market price’, Rosneft says
Posted on February 7, 2023 by Diligentia News in OilGas.Russia was willing to meet India’s oil needs at ‘market price’, the CEO of top Russian oil major told Reuters on Monday. In December last year, the Group of Seven, the European Union and Australia enforced a price cap on crude oil at $60 per barrel, aiming to reduce Moscow’s ability to finance its war […]
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India wants Russian LNG
Posted on February 7, 2023 by Diligentia News in OilGas.New Delhi is looking for a long-term contract to ensure its energy security. Russia’s largest liquefied natural gas (LNG) producer, Novatek, is poised to clinch a deal with India’s main gas distributor GAIL on long-term supplies, Reuters reported on Friday, citing industry sources. A preliminary agreement may be signed as early as this week during […]
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India’s Oil Refiners Using Dirhams For Payment In UAE
Posted on February 6, 2023 by Diligentia News in OilGas.India’s oil refiners are making payments in United Arab Emirates Dirhams instead of Dollars, according to a report by the news agency Reuters. The report cites four sources with knowledge of the matter saying that the State Bank of India (SBI), is now clearing these dirham payments. Following the Russian Invasion of Ukraine, Western countries […]
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Government increases windfall gains tax on crude, diesel and ATF
Posted on February 6, 2023 by Diligentia News in OilGas.The government changed the windfall profits tax on Saturday, increasing the Special Additional Excise Duty (SAED) on crude oil by Rs. 3,150 per tonne and the SAED on diesel and air turbine fuel (ATF) by Rs. 2.5 per litre. The new figures indicate that the levy on crude oil will rise from the previous Rs […]
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Analysts Predict 42% Decline In Russian Oil Production By 2035
Posted on February 6, 2023 by Diligentia News in OilGas.Last year, against all odds, Russia managed to grow its oil output despite being hit with tough sanctions, a plethora of oilfield service companies exiting the country as well as the refusal by western countries to buy its crude for the most part. Indeed, Energy Intelligence reports that in 2022, Russia’s crude and condensate production […]
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