Category Archives: OilGas
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India can save over ₹9170 billion on its oil import bill by shifting to electric mobility
Posted on April 28, 2025 by Diligentia News in OilGas.A complete shift from older fossil fuel-propelled vehicles to electric vehicles in 44 cities with a population of at least 1 million could help India save $106.6 billion on its oil import bill, which translates to ₹9170 billion in Indian currency at the current exchange rate. With this move, India could avoid 11.5 tonnes of […]
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GAIL, CONCOR ink pact for LNG use
Posted on April 28, 2025 by Diligentia News in OilGas.State-owned natural gas transmission and marketing company GAIL (India) and Container Corporation of India have signed an MoU to assess the feasibility of using Liquefied Natural Gas (LNG) as fuel for CONCOR’s logistics fleet. The collaboration seeks to harness LNG’s advantages as a cleaner and more cost-effective alternative to diesel, which could result in reduced […]
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Oil Down Nearly 3% As White House Tariff Talk Rumors Fly
Posted on April 24, 2025 by Diligentia News in OilGas.Oil prices declined on Wednesday even amid reports that the White House is contemplating significant cuts to tariffs on Chinese imports, a move that could reshape global trade dynamics and influence energy markets. On Wednesday, April 23, at 1:46 p.m. Brent crude was trading down 2.73% at $65.60, while U.S. West Texas Intermediate (WTI) crude […]
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India sweetens oil block bids with lease reform, arbitration freedom
Posted on April 23, 2025 by Diligentia News in OilGas.From the nine iterations of the oil acreage licensing policy (OALP), the major change in the tenth version, due out in August this year, will be twofold. The first of those is the expanded definition of mineral oils to include shale oil, shale gas and coal-bed methane. The other one is the freedom to pursue […]
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Natural gas import bill increases 13% to $15.2 billion in FY’25
Posted on April 23, 2025 by Diligentia News in OilGas.India’s natural gas import bill surged by 13% to $15.2 billion during the financial year 2024-25, compared with $13.4 billion in FY24, driven by rising consumption, according to data from the Petroleum Planning and Analysis Cell (PPAC). In March, the import bill increased by approximately 8.3% to $1.3 billion, compared to March 2024. The country […]
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India’s Oil Imports From OPEC Hit Record Low as Russian Flows Soar
Posted on April 22, 2025 by Diligentia News in OilGas.OPEC’s market share in India slumped to an all-time low of below 50% of India’s crude oil imports in the 2024-2025 fiscal year, as Russian oil flows to the world’s third-largest crude importer continued to rise and dent the share of the Middle Eastern producers. India’s imports of crude from Russia increased by 7.3% to […]
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India, Saudi Arabia exploring joint refinery, petrochemical projects, Modi says
Posted on April 22, 2025 by Diligentia News in OilGas.India and Saudi Arabia are exploring joint projects in refineries and petrochemicals, Indian Prime Minister Narendra Modi told Arab News in an interview, as he began a two-day visit to the country on Tuesday. “We are now working on feasibility studies for electricity grid interconnectivity between India and Saudi Arabia and the wider region,” he […]
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Reliance imported 17.3% more Russian oil in March as against Feb
Posted on April 22, 2025 by Diligentia News in OilGas.Reliance Industries, operator of the world’s biggest refining complex, imported about 532,700 barrels per day (bpd) of Russian oil in March, up 17.3% from February, according to ship tracking data obtained by Reuters’ industry sources. Russian oil accounted for about 48.5% of Reliance overall crude imports in March, the data showed. Reliance’s overall monthly imports […]
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Oil Prices Stabilize on Short-Covering and an OPEC+ Output Decline
Posted on April 22, 2025 by Diligentia News in OilGas.Crude oil prices stabilized today, following Monday’s dip, and even made some gains earlier in the day, as traders rushed to cover their short positions on the commodity, and production figures from OPEC+ showed a decline for March, to the tune of 360,000 barrels daily. At the time of writing, Brent crude was trading at […]
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India introduces new measures to improve natural gas affordability and supply
Posted on April 22, 2025 by Diligentia News in OilGas.India has announced significant changes to its domestic gas allocation policy to enhance the availability and affordability of natural gas. Starting from the first quarter of fiscal 2026, allocations for compressed natural gas (CNG) and piped natural gas (PNG) will be made on a two-quarter advance basis. The revamped policy includes new well gas (NWG) […]
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