Category Archives: OilGas
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Russian oil company Lukoil to sell international assets in response to Trump sanctions
Posted on November 6, 2025 by Diligentia News in OilGas.Russian oil company Lukoil says it is selling its international assets in response to sanctions imposed by President Trump that aim to push Russia to agree to a ceasefire in its war against Ukraine. The company said in a statement that it was already talking with potential purchasers. The transactions would be carried out under […]
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LNG Freight Rates Surge By 50% As Europe Races To Refill Inventories
Posted on November 6, 2025 by Diligentia News in OilGas.A month ago, global exports of liquefied natural gas hit an all-time high. They’re about to grow further, however, as winter in the northern hemisphere draws nearer and demand for heating soars. The first signs are already showing: LNG tanker rates are surging, gaining over 50% in the past week. A week ago, the average […]
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India to cut Russian oil imports in a big way? Major refiners may halt direct trade from late November; alternate sources being explored
Posted on November 6, 2025 by Diligentia News in OilGas.India plans to reduce direct imports of Russian crude from late November following the introduction of new US sanctions targeting Rosneft and Lukoil, which come into effect on November 21. Analysts expect Indian refiners—responsible for over half of the country’s Russian crude used in petrol and diesel production—to comply with the sanctions. According to maritime […]
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PNGRB urges GAIL to phase out gas turbines, adopt electric motors
Posted on November 6, 2025 by Diligentia News in OilGas.India’s gas regulator has asked Gail — the country’s largest gas distributor — to phase out gas turbines used in pipeline compressors and switch to electric motors to bring down costs. Gas pipelines in India currently use gas-fuelled turbines in compressors. Chairperson of Petroleum and Natural Gas Regulatory Body (PNGRB) Anil Jain told Business Standard […]
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Chinese Oil Buyers Reduce Russian Purchases
Posted on November 3, 2025 by Diligentia News in OilGas.Chinese refiners are canceling Russian oil cargos and adopting a wait-and-see attitude after the latest U.S. sanctions on Russia’s oil industry. Bloomberg reports, citing traders, that state-owned majors including Sinopec and PetroChina had canceled previously ordered Russian oil cargos, while the so-called teapots, or independent refiners, had stopped buying Russian crude to avoid getting penalized […]
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Indian Refining Giant Switches From Russian to Emirati Crude
Posted on November 3, 2025 by Diligentia News in OilGas.Bharat Petroleum, one of the largest refiners in India, has bought a cargo of Emirati Upper Zakum crude, as it seeks alternatives to Russian oil, Reuters has reported, citing unnamed sources. The cargo is 2 million barrels, to be delivered next month. Bharat Petroleum bought it on the spot market, where it previously mostly bought […]
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Energy Transition Stalls 10 Years After Paris Agreement
Posted on November 3, 2025 by Diligentia News in OilGas.Ten years after the landmark Paris Agreement to pursue net-zero emissions by 2050, the world faces a slowing transition to clean energy despite record-breaking renewable capacity installations. Much has changed in the energy systems in the decade since the Paris Agreement was signed in 2015. These systems faced a global pandemic, the first war in […]
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Morgan Stanley First to Revise Oil Price Forecast After OPEC+ Update
Posted on November 3, 2025 by Diligentia News in OilGas.Morgan Stanley raised its price forecast for Brent crude for 2026 to $60 per barrel from $57.50 following OPEC+’s decision to pause production hikes over the first three months of next year. This was the first oil price forecast revision after the Sunday meeting of the oil-producing group, which also produced one last output hike […]
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Indian Refiners Pivot Away From Russian Oil
Posted on November 3, 2025 by Diligentia News in OilGas.Oil prices were little changed in the current week, with bearish sentiment still ruling the markets after the U.S. agreed to a one-year truce to its trade war with China, despite reports that Indian refiners are ditching Russian oil following fresh U.S. sanctions. Brent crude for December delivery traded at $65.07/bbl at 2.22 pm ET […]
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The Hydrogen Horizon: How India is Shaping the Clean Energy Future
Posted on November 3, 2025 by Diligentia News in OilGas.The global race to cut emissions from hard-to-abate sectors such as steel, fertilisers, shipping, aviation, and long-haul transport is underway, with green hydrogen emerging as the decisive fuel. While Europe, Japan, Korea, and the Middle East are investing billions into renewable hydrogen, India has the right mix of resources, policy, and demand to emerge as […]
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