Category Archives: OilGas
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WoodMac: $100 Price Cap On Products Won’t Cripple Russian Refiners
Posted on February 1, 2023 by Diligentia News in OilGas.The Western-invoked price cap on Russian refined products coming into effect on February 5 won’t “severely impact” Russian refiners, WoodMac said on Tuesday. Mark Williams, WoodMac’s Research Director of Short-Term Refining & Oil Products, said that the oil products cap would have a minimal impact of Russia’s refining runs and distillate exports. “With Russian Urals […]
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Reliance stops local petcoke sales, boosts imports -sources
Posted on February 1, 2023 by Diligentia News in OilGas.Reliance Industries (RELI.NS) has stopped selling petroleum coke within India and boosted imports of the product to turn it into synthetic gas to power its refineries, according to two sources familiar with the matter and trade data. Petroleum coke is a carbon intensive solid residue left over from coking units in oil refineries that break […]
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Economic Survey 2023 sees silver lining in imports as crude oil prices soften
Posted on February 1, 2023 by Diligentia News in OilGas.The recent softening in the prices of crude oil augurs well for India’s petro imports, said the Economic Survey of India. “On the imports side, notwithstanding uncertainty surrounding the outlook on global crude oil prices, the recent softening in its prices augurs well for India’s POL (petroleum, oil and lubricants) imports,” said the Economic Survey […]
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Vedanta offers 90,000 b/d crude from west India blocks
Posted on January 31, 2023 by Diligentia News in OilGas.Indian private-sector resources firm Vedanta has offered to sell 90,000 b/d of crude to domestic refiners from two oil blocks it operates in west India. Vedanta is offering to sell 82,000 b/d produced at its RJ block in Barmer, Rajasthan state and another 8,000 b/d from its Cambay block in Gujarat state, request for proposal […]
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AG&P speeding Philippines, India LNG terminals development
Posted on January 31, 2023 by Diligentia News in OilGas.Global LNG logistics company Atlantic Gulf & Pacific International Holdings hopes to start operations at its first Philippines LNG import terminal between March and May while aiming to expand its presence globally, President AG&P LNG Terminals and Logistics, Karthik Sathyamoorthy, said. “We are going through a very interesting time within the LNG space … we […]
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Windfall Taxes Sweep Through The Global Energy Sector
Posted on January 30, 2023 by Diligentia News in OilGas.Over the past two years, global energy companies have enjoyed record profits amid high commodity prices, with the International Energy Agency estimating that net income by oil and gas companies doubled from 2021 to 2022. Those high oil and gas prices have translated into high fuel prices for consumers, drawing the ire of the public […]
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IOCL asks CNG firms to stop supply to 35 pumps
Posted on January 30, 2023 by Diligentia News in OilGas.The Indian Oil Corporation Ltd (IOCL) has asked CNG distribution companies in Gujarat to discontinue CNG supply to 35 petrol pumps whose monthly sale of petrol and diesel is less than 1,00,000 litre. The IOCL has asked the dealers to furnish a bank guarantee for sale of CNG. In view of the development, the Federation […]
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Can India Take Advantage Of Its Enormous Green Energy Potential?
Posted on January 30, 2023 by Diligentia News in OilGas.“The world needs India to avert climate catastrophe,” a CNN headline blared late last year, before asking the crucial follow-up question: “Can Modi deliver?” India aims to reach net-zero carbon emissions by 2070, but so far progress on climate goals has been uneven, to say the least. The South Asian nation’s decarbonization progress over the […]
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Petroleum Pipeline Project: second phase works accelerated
Posted on January 27, 2023 by Diligentia News in OilGas.The second phase works under Nepal-India Cross-Border Petroleum Pipeline Project have been accelerated. Construction of physical infrastructures including petrol tank and ‘transmix tank’ has been started at the depot located at Amalekhgunj of Bara under Nepal Oil Corporation Provincial Office. Office Chief Pradeep Kumar Yadav said construction works have been forwarded by completing all necessary […]
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Russian Oil Exports to India May Hit New Highs as Interest Grows
Posted on January 27, 2023 by Diligentia News in OilGas.India’s oil processors are open to buying even more Russian crude if the price is right, said refinery executives, potentially providing a bigger outlet for Moscow almost a year after its invasion of Ukraine The South Asian nation increased Russian oil imports in 2022, ending the year with record monthly volumes as discounted barrels enticed […]
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