Category Archives: OilGas
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Indian refiners target cheaper US LPG imports with help from China tariffs
Posted on May 3, 2025 by Diligentia News in OilGas.Chinese import tariffs have unwittingly come to India’s assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data. After stepping up crude imports and tying up US liquefied natural gas (LNG) supplies, Indian state-run oil […]
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OPEC Moves Up Meeting To Discuss Oil Production Quotas
Posted on May 3, 2025 by Diligentia News in OilGas.The OPEC+ members currently participating in voluntary production cuts will meet this Saturday, May 3, instead of Monday, May 5, according to Kpler’s Amena Bakr on X. The call is set for noon Vienna time, with the agenda focused on “consensus building around maintaining the sped-up increment of 411K for June.” Brent crude had slipped […]
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LNG’s Next Big Threat Isn’t Demand—It’s U.S. Policy
Posted on May 2, 2025 by Diligentia News in OilGas.Winter is over in the northern hemisphere, and demand for heating is in decline, to the likely chagrin of LNG exporters. Demand for the fuel in the key Asian and European markets has weakened this month as peak demand season eases—but the weakening is temporary. Europe imported a record 7.04 million tons of liquefied natural […]
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Venezuela Desperate For China To Buy More Oil
Posted on May 2, 2025 by Diligentia News in OilGas.Venezuela’s oil lifeline is unraveling—and it’s not just because of collapsing infrastructure or chronic mismanagement. It’s geopolitics, sanctions, and desperation, all swirling around Caracas as the U.S. slams the door shut. Last week, Venezuelan Vice President Delcy Rodríguez showed up in Beijing with an urgent ask: Buy more oil. Fast. With President Trump booting Chevron […]
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Qatar and Japan Discuss Major LNG Supply Deal
Posted on May 2, 2025 by Diligentia News in OilGas.QatarEnergy is in talks with Japanese energy companies over a long-term supply deal for liquefied natural gas from the expanded North Field. According to an exclusive Reuters report that cited unnamed sources, the volume under discussion is a minimum of 3 million tons annually, to be split between several Japanese companies, which include heavyweights JERA […]
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Bharat Petroleum eyes $20-30/ton gain from swap of Middle East LPG with cheaper US supplies
Posted on May 2, 2025 by Diligentia News in OilGas.Indian fuel retailer Bharat Petroleum Corp Ltd expects a net gain of $20 to $30 a metric ton on delivery of U.S. liquefied petroleum gas through swap deal with Middle Eastern suppliers, its head of finance said on Friday. BPCL, India’s second-biggest state refiner, is in talks with suppliers to swap contracted Middle Eastern cargo […]
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Petrol sales rise 4.6 per cent, diesel 4 per cent
Posted on May 2, 2025 by Diligentia News in OilGas.Petrol sales grew 4.6% and diesel 4% in April over the same month last year, according to the provisional consumption data released by the oil ministry. Aviation turbine fuel (ATF) sales expanded 3.2% and LPG 6.7%. The sales trend in April significantly varied from March when petrol sales had grown 5.7% year-on-year, diesel by 0.9%, […]
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IMF Slashes Growth Forecast for Middle East Exporters as Oil Prices Dip
Posted on May 2, 2025 by Diligentia News in OilGas.The International Monetary Fund (IMF) has downgraded its economic growth forecast for the oil exporters in the Middle East to 2.3% from 4% expected in October, due to the slide in oil prices. “Across the region, rising trade tensions and policy uncertainty are adding to the impact of conflicts and extended oil production cuts to […]
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Saudi Aramco likely to pick 20% each in new BPCL, ONGC refineries
Posted on May 2, 2025 by Diligentia News in OilGas.Saudi Aramco is likely to acquire 20 per cent ownership in two new refineries planned by state-owned companies Oil and Natural Gas Corp (ONGC) and Bharat Petroleum Corp (BPCL). The move comes as Saudi Arabia, the world’s top oil exporter, looks for a stable outlet for its crude in the world’s fastest-growing emerging market. Aramco […]
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India ready to collaborate openly to build inclusive global energy future: Hardeep Singh Puri
Posted on May 1, 2025 by Diligentia News in OilGas.Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri on Tuesday said India is ready to “collaborate openly” to build an inclusive global energy future. Speaking at a conference on the India-Middle East-Europe Economic Corridor here, Puri said IMEC represents India’s role as a global energy bridge. “India is ready to lead responsibly, collaborate […]
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