Category Archives: OilGas
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Indian Oil agrees to five-year LNG deal with Trafigura, sources say
Posted on May 1, 2025 by Diligentia News in OilGas.Indian Oil Corp , the country’s top refiner, has agreed to a five-year liquefied natural gas (LNG) import deal with trader Trafigura, with prices linked to the U.S. Henry Hub benchmark, three trade sources said on Wednesday. Trafigura will supply three to four LNG cargoes this year and six cargoes annually from next year, said […]
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BPCL gives Sanjay Khanna additional charge of CMD
Posted on May 1, 2025 by Diligentia News in OilGas.Bharat Petroleum Corporation Ltd (BPCL) has given Sanjay Khanna the additional charge of the company’s chairman and managing director. Khanna is currently director (refineries) in the state-run company. He is a chemical engineering graduate from National Institute of Technology, Tiruchirapalli, and a postgraduate in finance management from Mumbai University. Khanna has more than three decades […]
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Indian Oil Corporation says not in talks for term crude import deal with Russia
Posted on May 1, 2025 by Diligentia News in OilGas.Indian Oil Corporation (IOC), the nation’s largest oil firm, is not discussing a term or fixed quantity deal for import of Russian oil given the volatility in the international market, Chairman A S Sahney said on Wednesday. India’s import of Russian oil has surged since the start of the Ukraine war in February 2022. Russia […]
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HPCL and ADNOC Trading sign LNG supply agreement to strengthen energy cooperation
Posted on May 1, 2025 by Diligentia News in OilGas.Hindustan Petroleum Corporation Limited (HPCL) has entered into a Liquefied Natural Gas (LNG) supply agreement with ADNOC Trading, a subsidiary of the Abu Dhabi National Oil Company (ADNOC). The agreement is part of ongoing efforts to enhance energy cooperation between India and the United Arab Emirates (UAE). Under the agreement, ADNOC Trading will supply LNG […]
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Is Saudi Arabia Preparing for Another Oil Price War?
Posted on May 1, 2025 by Diligentia News in OilGas.US benchmark WTI crude is down nearly 4% as Saudi Arabia reports emerge that not only can the Saudis sustain today’s low oil prices, but output increases are likely to be announced next week, for June output, sources speaking to both Reuters and Bloomberg have indicated. On Wednesday, Reuters cited five unnamed sources as saying […]
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Saudi Signals and Trump Tariffs Are Cracking the Oil Market
Posted on May 1, 2025 by Diligentia News in OilGas.Low inventories reported today by the Energy Information Administration (EIA) did nothing to staunch the bleeding, with WTI getting gutted nearly 4% on the day, and Saudi rumors throwing another spanner in the works, while new U.S. economic data suggests more pain is in store for the sector. Three weeks ago, eight OPEC+ countries unveiled […]
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Oil Prices Are Set for Another Monthly Dip
Posted on April 30, 2025 by Diligentia News in OilGas.Crude oil prices extended their latest decline today, looking set for a monthly drop that, according to Reuters, will be the deepest in three years. At the time of writing, Brent crude was trading at $63.46 per barrel, with West Texas Intermediate at $59.68 per barrel. Since the start of the month, the benchmarks have […]
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Russia’s ESPO Blend crude finds new market in India amid China dip
Posted on April 30, 2025 by Diligentia News in OilGas.Chinese firms, India’s ESPO Blend crude oil imports from Russia reached their peak since August 2024 in April, Reuters quoted data from LSEG and traders in a report. ESPO Blend is Russia’s primary light sweet crude oil grade, a significant component of its energy exports. This particular blend is loaded onto tankers at the Kozmino […]
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Woodside Greenlights Louisiana LNG
Posted on April 29, 2025 by Diligentia News in OilGas.Woodside Energy has announced the final investment decision for the Louisiana LNG project and plans to start production in 2029. The facility is designed to have three liquefaction trains with a total capacity of 16.5 million tons annually. This would boost Woodside’s total LNG capacity to 24 million tons annually by next decade, the company […]
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Fuel oil transport via Ctg-Dhaka pipeline to begin trial in first week of May
Posted on April 29, 2025 by Diligentia News in OilGas.BPC plans to commence full-scale operations after the trial run, the officials said. Earlier in March, BPC had planned to start transporting fuel through the new pipeline, but administrative complications delayed the process. Moni Lal Das, general manager (Commerce and Operations) of BPC, told TBS that project officials held a meeting yesterday (22 April) to […]
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