Category Archives: OilGas
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India ramps up security for petroleum refineries near western border
Posted on May 8, 2025 by Diligentia News in OilGas.India has ramped up security and threat monitoring for Indian refineries and petroleum production facilities near the western border, people familiar with the matter said, citing preparations that include camouflaging exercises and activation of air defences. The heightened security covers installations that account for more than 38% of India’s total 257 million tonnes of annual […]
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U.S. Freeport LNG Export Plant Set to Resume Service After Outage
Posted on May 8, 2025 by Diligentia News in OilGas.Freeport LNG in Texas is set to take more feedgas on Wednesday in a sign that the U.S. liquefied natural gas export plant is gradually resuming service after an outage on Tuesday, per LSEG gas flow data cited by Reuters. Freeport LNG, the company owning the plant, told the Texas environmental regulators on Tuesday that […]
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India to save Rs 1.8 lakh cr on import bill on softening global oil prices
Posted on May 8, 2025 by Diligentia News in OilGas.India, the world’s third largest oil importing and consuming nation, is likely to save as much as Rs 1.8 lakh crore on import of crude oil and LNG if the trend of softening international energy rates continues, Icra said Wednesday. India, which meets over 85 per cent of its crude oil needs through imports, spent […]
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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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