Category Archives: OilGas
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Indian Refiner BPCL Looks to Source Cheaper U.S. LPG in Swap Deal
Posted on May 3, 2025 by Diligentia News in OilGas.Indian state-held refiner and fuel retailer Bharat Petroleum Corporation Ltd (BPCL) is in discussions with suppliers to swap a Middle East cargo with liquefied petroleum gas (LPG) with cheaper supply from the United States, the refiner’s head of finance, Vetsa Ramakrishna Gupta, said on Friday. “We are approaching suppliers. We see little bit of opportunity […]
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BPCL refineries utilise 115 pc capacity at record 40.5 mn tonnes in FY25: Hardeep Puri
Posted on May 3, 2025 by Diligentia News in OilGas.Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Friday lauded the performance of Bharat Petroleum Corporation Ltd (BPCL), as the government-owned oil major has achieved its highest-ever refinery throughput of 40.5 million metric tonnes with 115 per cent capacity utilisation and made a net profit of Rs 132.75 billion for 2024-25. The minister […]
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Trump & Tariffs: India’s crude oil purchases from the US to surge in April-June
Posted on May 3, 2025 by Diligentia News in OilGas.India and the US deliberate on the fine print of a bilateral trade deal, the world’s third largest crude oil importer is expected to buy more than 1 million barrels per day (mb/d) from the US during April-June 2025—a record high. This is in line with India’s stated position to enhance annual energy imports from […]
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Indian refiners target cheaper US LPG imports with help from China tariffs
Posted on May 3, 2025 by Diligentia News in OilGas.Chinese import tariffs have unwittingly come to India’s assistance to help boost imports of US liquefied petroleum gas (LPG) at rates cheaper than what it pays for supplies from West Asia, according to industry sources and shipping data. After stepping up crude imports and tying up US liquefied natural gas (LNG) supplies, Indian state-run oil […]
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OPEC Moves Up Meeting To Discuss Oil Production Quotas
Posted on May 3, 2025 by Diligentia News in OilGas.The OPEC+ members currently participating in voluntary production cuts will meet this Saturday, May 3, instead of Monday, May 5, according to Kpler’s Amena Bakr on X. The call is set for noon Vienna time, with the agenda focused on “consensus building around maintaining the sped-up increment of 411K for June.” Brent crude had slipped […]
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LNG’s Next Big Threat Isn’t Demand—It’s U.S. Policy
Posted on May 2, 2025 by Diligentia News in OilGas.Winter is over in the northern hemisphere, and demand for heating is in decline, to the likely chagrin of LNG exporters. Demand for the fuel in the key Asian and European markets has weakened this month as peak demand season eases—but the weakening is temporary. Europe imported a record 7.04 million tons of liquefied natural […]
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Venezuela Desperate For China To Buy More Oil
Posted on May 2, 2025 by Diligentia News in OilGas.Venezuela’s oil lifeline is unraveling—and it’s not just because of collapsing infrastructure or chronic mismanagement. It’s geopolitics, sanctions, and desperation, all swirling around Caracas as the U.S. slams the door shut. Last week, Venezuelan Vice President Delcy Rodríguez showed up in Beijing with an urgent ask: Buy more oil. Fast. With President Trump booting Chevron […]
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Qatar and Japan Discuss Major LNG Supply Deal
Posted on May 2, 2025 by Diligentia News in OilGas.QatarEnergy is in talks with Japanese energy companies over a long-term supply deal for liquefied natural gas from the expanded North Field. According to an exclusive Reuters report that cited unnamed sources, the volume under discussion is a minimum of 3 million tons annually, to be split between several Japanese companies, which include heavyweights JERA […]
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Bharat Petroleum eyes $20-30/ton gain from swap of Middle East LPG with cheaper US supplies
Posted on May 2, 2025 by Diligentia News in OilGas.Indian fuel retailer Bharat Petroleum Corp Ltd expects a net gain of $20 to $30 a metric ton on delivery of U.S. liquefied petroleum gas through swap deal with Middle Eastern suppliers, its head of finance said on Friday. BPCL, India’s second-biggest state refiner, is in talks with suppliers to swap contracted Middle Eastern cargo […]
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Petrol sales rise 4.6 per cent, diesel 4 per cent
Posted on May 2, 2025 by Diligentia News in OilGas.Petrol sales grew 4.6% and diesel 4% in April over the same month last year, according to the provisional consumption data released by the oil ministry. Aviation turbine fuel (ATF) sales expanded 3.2% and LPG 6.7%. The sales trend in April significantly varied from March when petrol sales had grown 5.7% year-on-year, diesel by 0.9%, […]
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