Category Archives: OilGas
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South Korea Seeks More U.S. LNG Imports to Fix Trade Imbalance
Posted on April 8, 2025 by Diligentia News in OilGas.South Korea has thrown in the towel without a fight after the U.S. slapped tariffs on all of the country’s trade partners. Seoul is looking at more LNG imports to get Washington to drop the new tariffs. Per a Bloomberg report, the South Korean government is working on several packages of measures to be taken […]
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India’s oil minister flags higher petrol, diesel prices in Opposition-ruled states after hiking excise tax
Posted on April 8, 2025 by Diligentia News in OilGas.Union Oil Minister Hardeep Singh Puri on Tuesday flagged his concerns over price differences between BJP and Opposition-ruled states, a day after excise duty on petrol and diesel were raised by Rs 2 per litre. “There is a difference of at least Rs 10-12 per litre in BJP-ruled states and Opposition-ruled states,” said Puri. The […]
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Goldman warns oil below $40 is possible in ‘extreme’ scenario
Posted on April 8, 2025 by Diligentia News in OilGas.Goldman Sachs Group Inc. — fresh from cutting oil forecasts twice in a week — said Brent has the outside potential to fall below $40 a barrel under “extreme” outcomes as the trade war flares and supplies rise. “In a more extreme and less likely scenario with both a global GDP slowdown and a full […]
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Why is Modi govt increasing petrol, diesel excise duties even when global oil prices are decreasing?
Posted on April 8, 2025 by Diligentia News in OilGas.The government on Monday hiked excise duty on petrol and diesel by Rs 2 per litre. At a time when global crude prices are on a steady decline, the hike signals a fresh focus on ramping up govt revenues for possible capital expenditure after tax relief given in the Union Budget 2025. It may be […]
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LPG price raised by Rs 50 per cylinder
Posted on April 8, 2025 by Diligentia News in OilGas.The price of LPG cylinders has been increased by Rs 50 per 14.2kg cylinder for both subsidised and non-subsidised consumers with effect from April 8, Petroleum and Natural Gas Minister Hardeep Singh Puri announced on Monday. The price increase applies to both Pradhan Mantri Ujjwala Yojana (PMUY) beneficiaries as well as other consumers. “For PMUY […]
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India hikes excise duty on petrol and diesel
Posted on April 8, 2025 by Diligentia News in OilGas.The excise duty on petrol and diesel was increased by ₹2 per litre each, effective April 8, 2025. The new rates are ₹13 per litre for petrol and ₹10 per litre for diesel, up from ₹11 and ₹8 per litre, respectively, according to the Ministry of Petroleum and Natural Gas website. No, the retail prices […]
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Goldman Sachs Slashes Oil Price Forecast to Below $60 in 2026
Posted on April 7, 2025 by Diligentia News in OilGas.Higher risks of recessions and higher-than-expected OPEC+ production prompted Goldman Sachs to slash again its oil price forecasts for 2026, days after it had already cut its price outlook in the wake of the U.S. tariffs announcement last week. Goldman Sachs’s analysts issued a new note dated April 6, in which they slashed their 2026 […]
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Good news ahead? Petrol, Diesel & LPG price cut coming soon?
Posted on April 7, 2025 by Diligentia News in OilGas.Amid rising geopolitical tension and the sanction on various Oil Producing Companies (OPCs), India has diversified its petroleum import basket and is procuring crude from countries located at various geographical locations. The move will not only ensure security of crude supplies but also mitigate the risk of dependence on crude oil from single region. Is […]
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Oil Price Rout Extends on Recession Fears
Posted on April 7, 2025 by Diligentia News in OilGas.The price slump in crude oil that began last week has extended into this one as market players’ fears about a global recession deepen. At the time of writing, Brent crude was trading at just below $64 per barrel, while West Texas Intermediate was changing hands for $60.54 per barrel, both down by over 2% […]
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GreenLine to raise $275 mn equity to fund green fuel, EV truck push
Posted on April 7, 2025 by Diligentia News in OilGas.GreenLine Mobility Solutions, a logistics firm backed by the Essar Group, is raising $275 million in equity from a group of investors, including Nikhil Kamath, co-founder of online stock-trading platform Zerodha, at an undisclosed valuation. The Mumbai-based firm, which currently operates a fleet of 650 LNG trucks in India, aims to scale up to 10,000 […]
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