Category Archives: OilGas
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Russia’s Crude Price Slips to Lowest since Ukraine Invasion
Posted on December 17, 2025 by Diligentia News in OilGas.The price of Russia’s crude has tumbled over the past three months to its lowest level since Russia invaded Ukraine in early 2022, weighed down by intensified U.S. sanctions and falling international benchmarks. Russian crude shipped out of all major export terminals on the Black Sea, Baltic Sea, and Far East port of Kozmino fetches […]
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Oil Prices Spike as Trump Orders Blockade of Sanctioned Venezuelan Oil Tankers
Posted on December 17, 2025 by Diligentia News in OilGas.Oil prices spiked early on Wednesday morning in Asia as President Trump announced a “total and complete blockade of all sanctioned oil tankers going into, and out of, Venezuela.” At the time of writing, West Texas Intermediate crude futures had climbed 1.25% on the news to trade at $55.96, reflecting heightened market risk premiums amid […]
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Brent Oil Extends Slide Below $60 as Supply Surplus Signs Grow
Posted on December 17, 2025 by Diligentia News in OilGas.Oil extended declines, with Brent crude slipping below $60 a barrel for the first time since May, as indications grow that supply is outpacing demand against the backdrop of efforts to end the war in Ukraine. The global benchmark fell as much as 1.4%, while US crude futures extended declines from the weakest close since […]
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India’s natural gas demand to decline by 4-5% in 2025
Posted on December 17, 2025 by Diligentia News in OilGas.A milder-than-usual summer coupled with elevated spot prices of liquefied natural gas (LNG) in the first half of 2025 is expected to pull down India’s natural gas demand in the current calendar year. According to Balance Point Research, gas demand in India’s nearly 200 million standard cubic meters per day (MSCMD), or roughly 7 billion […]
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India’s gas production dips 5.1% in October as LNG imports fall 21.6%
Posted on December 16, 2025 by Diligentia News in OilGas.India’s gross natural gas production fell 5.1 per cent year-on-year to 2,954 million metric standard cubic metres (MMSCM) in October 2025, while liquefied natural gas (LNG) imports declined 21.6 per cent to 2,844 MMSCM, leading to a 14.6 per cent drop in gas available for sale, data released by the Petroleum Planning and Analysis Cell […]
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Oil Prices Slip as Ukraine Peace Talks Progress and China’s Economy Stalls
Posted on December 16, 2025 by Diligentia News in OilGas.Oil prices were under pressure in early Asian trading on Tuesday as growing optimism around Russia-Ukraine peace talks and disappointing economic indicators out of China undercut market sentiment, reinforcing downside pressure on crude benchmarks. At the time of writing, WTI crude hovered at $56.49 a barrel, down roughly 0.6%, while Brent crude was trading at […]
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Oil tanker rates to stay strong into 2026 as sanctions remove ships for hire
Posted on December 15, 2025 by Diligentia News in OilGas.The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half. In recent weeks, the cost of shipping oil has risen to […]
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Parliamentary panel flags oil import dependence, urges diversification amid geopolitical risks
Posted on December 15, 2025 by Diligentia News in OilGas.A parliamentary committee has flagged India’s heavy dependence on crude oil imports and rising geopolitical risks as major challenges for the country, and urged the government to step up diversification of supply sources and strengthen risk management mechanisms. In its report tabled in Parliament last week, the Public Undertaking Committee noted that India imports nearly […]
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New Petroleum And Natural Gas Rules Notified
Posted on December 15, 2025 by Diligentia News in OilGas.The government has notified the Petroleum and Natural Gas Rules, 2025, introducing a modern regulatory framework designed to draw higher investment into India’s oil and gas sector and improve ease of doing business. Issued under the recently enacted Oilfields (Regulation and Development) Amendment Act, 2025, the rules overhaul the licensing regime and replace the older […]
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Oil Ministry readies formula for new IOC board maths
Posted on December 12, 2025 by Diligentia News in OilGas.The oil ministry is planning a major restructuring of the board of Indian Oil Corporation Ltd (IOCL), the country’s largest oil refiner and retailer, said people familiar with the development. This entails eliminating three director-level positions as part of an organisational revamp, the people said. The positions are director (pipelines), director (research and development), and […]
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