Category Archives: OilGas
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India Considers Allowing Foreign Investment in Nuclear Plants
Posted on April 28, 2025 by Diligentia News in OilGas.As India looks to boost its nuclear power generation, the government is considering allowing foreign companies to own up to a 49% stake in Indian nuclear power plants, government sources told Reuters on Friday. Even if India passes amendments in its nuclear foreign investment laws to allow up to 49% foreign stakes, any foreign investment […]
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U.S. Shale M&A Hits the Brakes as Oil Slides and Tariffs Bite
Posted on April 28, 2025 by Diligentia News in OilGas.Mergers and acquisitions in the U.S. shale industry got off to a strong start this year. Oil was trading at pretty reasonable prices—unless you’re OPEC—there was a pro-oil president in the White House, and the outlook was bright. For a while. Then, prices took a dive, markets panicked about tariffs, and everyone started predicting economic […]
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Oil Prices Tick Higher Despite Tariff Talks Confusion
Posted on April 28, 2025 by Diligentia News in OilGas.Crude oil prices started trading this week with a gain despite mixed signals from Washington regarding tariff negotiations with China. At the time of writing, Brent crude was trading at $67.03 per barrel, with West Texas Intermediate at $63.22 per barrel, after Treasury Secretary Scott Bessent said on Sunday he was not involved in any […]
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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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