Category Archives: OilGas
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Elon Musk Says Oil Is “Small-Time”
Posted on May 28, 2025 by Diligentia News in OilGas.With six little words, Elon Musk has relegated the oil industry to a historical footnote. This, despite the oil industry underpinning the workings of the entire world. “Compared to solar, oil is small-time,” Musk posted on X, delivering a withering verdict on the fossil fuel era. No charts, no caveats. Just a blunt assertion that […]
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Qatar’s share in India’s LNG imports hits 3-year low as US gains ground
Posted on May 28, 2025 by Diligentia News in OilGas.According to the GIIGNL’s 2025 report, India imported 27 million tonnes of LNG in 2024, marking a 23 per cent year-on-year growth, the second-largest global rebound The move by India to procure more liquefied natural gas (LNG) cargoes from the US to compensate for trade imbalances is eating into the share of its top supplier, […]
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The oil market has a bigger problem than a slowing China – India
Posted on May 28, 2025 by Diligentia News in OilGas.India is the stuff of dreams for OPEC and Big Oil: a rapidly developing nation of nearly 1.5 billion people where petroleum consumption is still in its infancy. It’s the next China — so the theory goes. Perhaps one day, but in 2025 it’s still the stuff of dreams. For years, energy economists have talked […]
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Rising power demand pushes India’s LNG terminal utilisation higher in 2024
Posted on May 28, 2025 by Diligentia News in OilGas.India’s LNG imports rose by more than 19% to 26.15 mt in 2024 against 21.96 mt in 2023 A searing summer coupled with prolonged heat waves accelerated India’s power demand last year with the world’s third largest energy consumer enhancing gas-based electricity generation, leading to higher utilisation at LNG terminals compared to 2023 and 2022. […]
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Oil Prices Under Pressure From the Prospect of Another OPEC+ Hike
Posted on May 27, 2025 by Diligentia News in OilGas.Crude oil prices slid further today after a weak start to the week, following reports that OPEC+ was discussing a greater than originally planned production hike for July. These reports have been circulating for a few days now, fueling pessimism among traders and forecasters. At the time of writing, Brent crude was trading at $64.60 […]
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Goldman Sachs Doubles Down on Bearish Oil Outlook Despite Rising Demand
Posted on May 27, 2025 by Diligentia News in OilGas.Goldman Sachs analysts issued yet another update to their oil price forecast, reiterating expectations of weaker prices this year and next, on the back of substantial growth in non-OPEC supply—excluding U.S. shale. In a note, the analysts said “oil production growth from non-OPEC ex Russia ex shale top projects will likely accelerate to 1MB/d over […]
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GAIL issues swap tender for two LNG cargoes, sources say
Posted on May 27, 2025 by Diligentia News in OilGas.GAIL (India) Ltd has issued a swap tender, offering two U.S.-loaded liquefied natural gas (LNG) cargoes in exchange for two deliveries to India, two industry sources said Share This
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India Fears Oil Spill as Cargo Ship Sinks in Arabian Sea
Posted on May 26, 2025 by Diligentia News in OilGas.Indian authorities and coast guard were mobilized on Monday to contain an oil spill after a cargo ship sank off India’s West coast this weekend, leaking marine fuel and fuel from containers. Liberia-flagged container vessel MSC ELSA 3 sent a distress signal to authorities on Saturday, May 24, the Indian Coast Guard said. The vessel […]
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Aramco Considers Asset Sales to Raise Cash
Posted on May 26, 2025 by Diligentia News in OilGas.Saudi Aramco is reportedly exploring asset sales as a means of increasing the availability of funds to fuel its international expansion and existing operations, according to unnamed sources who spoke to Reuters. The sources told the publication that the Saudi state major had asked investment banks to come up with ideas on how best to […]
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Oil Prices Rise as Trump Extends EU Tariff Deadline
Posted on May 26, 2025 by Diligentia News in OilGas.Crude oil prices began trade with a gain this week following the news that President Donald Trump had extended the deadline for a trade deal with the European Union to early July. The extension was granted to Brussels after Commission president Ursula con der Leyen said the EU needed more time to draft a deal […]
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