Category Archives: OilGas
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Iraq’s Oil Exports to India Topped $29 Billion in 2024
Posted on May 7, 2025 by Diligentia News in OilGas.OPEC’s second-largest producer, Iraq, exported crude oil and petroleum products worth $29.58 billion to India last year, trade data reported by Shafaq News showed on Tuesday. Iraq, which was India’s top crude oil supplier before 2022 and the flow of cheap Russian oil, unwanted or banned in the West, held in 2024 a market share […]
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The Market Is Well Supplied – So Why Is Saudi Arabia Raising Oil Prices?
Posted on May 7, 2025 by Diligentia News in OilGas.OPEC+ served two surprises to the oil trading world in a matter of weeks. First, it said it would bring back three times the amount of oil supply it planned to originally in May. Then, it said it would repeat the exercise in June. And then it emerged that Saudi Arabia is raising selling prices […]
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India’s Natural Gas Challenge: Escaping the vicious price-demand loop
Posted on May 7, 2025 by Diligentia News in OilGas.India aims to raise natural gas’s share in its energy mix to 15% by 2030, positioning it as a cleaner alternative to coal and a transitional fuel for a sustainable future. As a “bridge fuel,” it offers lower carbon intensity and supports rising energy needs, but the key question remains: are current efforts enough to […]
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Construction of the $20 Billion Mozambique LNG Project to Resume by Mid-Year
Posted on May 5, 2025 by Diligentia News in OilGas.TotalEnergies and Bharat Petroleum Corporation Limited (BPCL) have noted that the long-awaited Mozambique LNG project is expected to commence implementation in July 2025. The project was halted in March 2021 after militant attacks in Cabo Delgado province, when operator TotalEnergies SE invoked force majeure. The project is now progressing, however, with security becoming better and […]
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India’s Russian oil imports at 9-month high in April; uptick in US crude volumes
Posted on May 5, 2025 by Diligentia News in OilGas.Russian oil flows to India touched a 9-month high in April primarily due to the abundant availability of Moscow’s crude for exports as well as the low oil prices, with the latter ensuring sufficient number non-sanctioned tankers to haul the oil to Indian ports without falling foul of international curbs April also saw India’s oil […]
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Barclays cuts 2025, 2026 Brent crude forecast as OPEC+ accelerates output hikes
Posted on May 5, 2025 by Diligentia News in OilGas.Barclays lowered its Brent oil price forecast by $4 per barrel to $66/bbl for 2025 and by $2 to $60/bbl for 2026, citing the decision by OPEC+ to accelerate oil production hikes. “Tariff-related developments have certainly been a drag but the OPEC+ pivot has also been a significant driver of the move lower in oil […]
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StanChart Cuts 2025 Oil Price Forecast By $16/bbl Amid Trump’s Tariffs
Posted on May 5, 2025 by Diligentia News in OilGas.Previously, we reported that commodity analysts at Standard Chartered were bullish on oil prices in the current year, thanks to strong oil fundamentals, including declining U.S. supply growth and OPEC+ supply discipline. StanChart reported that non-OPEC+ supply growth fell sharply from 2.46 mb/d in 2023 to 0.79 mb/d in 2024, in large part due to […]
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Indian Refiner BPCL Looks to Source Cheaper U.S. LPG in Swap Deal
Posted on May 3, 2025 by Diligentia News in OilGas.Indian state-held refiner and fuel retailer Bharat Petroleum Corporation Ltd (BPCL) is in discussions with suppliers to swap a Middle East cargo with liquefied petroleum gas (LPG) with cheaper supply from the United States, the refiner’s head of finance, Vetsa Ramakrishna Gupta, said on Friday. “We are approaching suppliers. We see little bit of opportunity […]
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BPCL refineries utilise 115 pc capacity at record 40.5 mn tonnes in FY25: Hardeep Puri
Posted on May 3, 2025 by Diligentia News in OilGas.Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Friday lauded the performance of Bharat Petroleum Corporation Ltd (BPCL), as the government-owned oil major has achieved its highest-ever refinery throughput of 40.5 million metric tonnes with 115 per cent capacity utilisation and made a net profit of Rs 132.75 billion for 2024-25. The minister […]
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Trump & Tariffs: India’s crude oil purchases from the US to surge in April-June
Posted on May 3, 2025 by Diligentia News in OilGas.India and the US deliberate on the fine print of a bilateral trade deal, the world’s third largest crude oil importer is expected to buy more than 1 million barrels per day (mb/d) from the US during April-June 2025—a record high. This is in line with India’s stated position to enhance annual energy imports from […]
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