Category Archives: OilGas
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Germany’s Oil and Gas Production Continues to Drop
Posted on April 16, 2024 by Diligentia News in OilGas.German oil and gas production fell again in 2023 compared to 2022, industry association BVEG said on Tuesday, calling for increased domestic production to reduce dependence on more emissions-generating LNG imports. Last year, Germany’s oil production dropped by 5.9% year-over-year, while natural gas output slumped by 10.4%. The share of domestic gas supply of total […]
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India’s Chhara LNG terminal gets first cargo
Posted on April 16, 2024 by Diligentia News in OilGas.India’s Hindustan Petroleum, a unit of state-owned ONGC, has received the first cargo of liquefied natural gas at its Chhara LNG import terminal in Gujarat, according to shipping data. The 2015-built 159,800-cbm, Maran Gas Mystras, arrived at the LNG terminal in the Chhara port on April 11, according to its AIS data provided by VesselsValue. […]
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Petrol sales up 7%, diesel declines 9.5% in April
Posted on April 16, 2024 by Diligentia News in OilGas.India’s petrol consumption soared 7 per cent in the first half of April but diesel sales were down 9.5 per cent ahead of the onset of a harsh summer season that is set to crank up fuel demand, preliminary data of state-owned firms showed on Tuesday. Petrol sales of three state-owned firms, which control 90 […]
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What Could Rising Tensions in Middle East Mean for India & World Economy? Impact on Oil and Rupee Explained
Posted on April 16, 2024 by Diligentia News in OilGas.As if the Hamas war was not enough that the escalation of tensions between Iran and Israel has added fuel to the fire in Middle East. The so-called retaliatory drone attack on Israel by Iran on Sunday is making the world anxious about this will pan out for the economies and geopolitics. Global leaders, including […]
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Japanese Investors Partner With I Squared Capital on US$370 Million Strategic Investment in Natural Gas Infrastructure to Accelerate the Energy Transition in India
Posted on April 16, 2024 by Diligentia News in OilGas.Squared Capital, a leading independent global infrastructure investor, today announced that a consortium of Japanese investors will become strategic minority shareholders in the Natural Gas Transition Platform (the Platform), a Singapore-based holding company with investments in Indian city gas distribution networks that develop and operate Compressed Natural Gas (CNG) stations for vehicles, pipe natural gas […]
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Fear of High Gasoline Prices May Deter Biden From Toughening Sanctions on Iran
Posted on April 16, 2024 by Diligentia News in OilGas.The Biden Administration is unlikely to attempt to dramatically curtail Iranian oil exports after Iran’s attack on Israel, due to concerns about higher oil and gasoline prices in an election year and an unwillingness to further harm U.S.-China relations as Beijing is Iran’s key remaining oil customer, analysts have told Reuters. The U.S. toughening the […]
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India indicates readiness to release more oil reserves
Posted on April 15, 2024 by Diligentia News in OilGas.India will take “appropriate” steps to calm the rise in oil prices, triggered by Russia’s invasion of Ukraine, the junior oil minister said on Monday, indicating the country could release more oil from national stocks if required. India, the world’s third biggest oil consumer and importer, imports about 85% of its oil needs. “Government of […]
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Oil on boil as Iran launches attack on Israel; What would be the impact on petrol prices?
Posted on April 15, 2024 by Diligentia News in OilGas.Crude oil prices are again seen to be moving towards $100 per barrel as Iran launched attacks against Israel on April 13, putting strain on import-dependent India. India—a net importer of crude oil—is highly sensitive to international oil prices as it receives over 85 percent of its requirements from other nations. This directly links the […]
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Govt set to take measures through Gas-based Power Plants
Posted on April 15, 2024 by Diligentia News in OilGas.To meet the high electricity demand in the country during the summer season, the Government of India has decided to operationalize gas-based power plants. To ensure maximum power generation from Gas-Based Generating Stations. The government has issued directions to all Gas-Based Generating Stations under Section 11 of the Electricity Act, 2003 (under which the appropriate […]
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Brent crude may hit $100/barrel this year if OPEC+ continues output cut
Posted on April 12, 2024 by Diligentia News in OilGas.The crude price in the international market could hit $100 a barrel this year if OPEC+ (the Organization of Petroleum Exporting Countries) continues with its production cut, said Russell Hardy, chief executive of the world’s largest energy trader, Vitol. Russell, speaking at the FT Commodities Global Summit in Switzerland’s Lausanne, also mentioned that Vitol is […]
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