Category Archives: OilGas
-
No Windfall Tax on Oil Cos After New Law: Puri
Posted on March 21, 2025 by Diligentia News in OilGas.Oil and gas companies will not face any new taxes like the windfall profits tax after the coming into effect of a new law that promises stability of fiscal regime, Petroleum Minister Hardeep Singh Puri said. Parliament has passed the Oilfields (Regulation and Development) Bill, 2024 that provides policy stability to investors, decriminalises provisions and […]
Continue Reading... No Comments. -
India’s LNG imports from the US at record 7.25 BCM in 2024
Posted on March 20, 2025 by Diligentia News in OilGas.India’s imports of liquefied natural gas (LNG) from the US surged to 256.05 billion cubic feet, or roughly 7.25 billion cubic meters (BCM), during 2024 calendar year (CY) — the highest on record According to the US Energy Information Administration (EIA), India’s LNG imports from the US rose by more than 55 per cent year-on-year […]
Continue Reading... No Comments. -
American Oil Is Underhedged and Heavily Exposed
Posted on March 20, 2025 by Diligentia News in OilGas.Hedging is a popular trading strategy frequently used by oil and gas producers, airlines and other heavy consumers of energy commodities to protect themselves against market fluctuations. During times of falling crude prices, oil producers normally use a short hedge to lock in oil prices if they believe prices are likely to go even lower […]
Continue Reading... No Comments. -
Oil Prices Jump as Israel Pounds Gaza Again After Ceasefire Deal Falls Apart
Posted on March 18, 2025 by Diligentia News in OilGas.Israel has carried out “extensive strikes” on Gaza, killing at least 220, according to sources from both Israel and Gaza cited by the BBC. The strikes came as a ceasefire that began in mid-January failed with the warring parties unable to agree on the terms to extend it. The reignition of the war between Israel […]
Continue Reading... No Comments. -
Reliance exported Rs 6,850 cr worth of fuel from Russian oil to US: Report
Posted on March 18, 2025 by Diligentia News in OilGas.Billionaire Mukesh Ambani’s Reliance Industries Ltd is estimated to have earned 724 million euros (about Rs 6,850 crore) from exporting fuel made from Russian crude oil to the US in one year, an European think tank said in a report. “From January 2024 to the end of January 2025, the US imported EUR 2.8 billion […]
Continue Reading... No Comments. -
China Stops Buying U.S. LNG
Posted on March 18, 2025 by Diligentia News in OilGas.China has not received a single cargo of U.S. liquefied natural gas in 40 days and there are currently no LNG tankers en route to the country, Bloomberg has reported, citing data it compiled from ship-tracking information providers and energy analytics provider Kpler. The purchase freeze was the result of the tariff exchange that President […]
Continue Reading... No Comments. -
Why OPEC+ is Supporting a Potentially Disastrous Rise in Oil Production
Posted on March 18, 2025 by Diligentia News in OilGas.Oil prices have fallen fast since the 3 March announcement from OPEC+ that it will go ahead with a planned rise in its collective oil production. The prospect of increased supply from the group has added to the bearish tone created by rising supply from other key producers and from uncertain demand projections from the […]
Continue Reading... No Comments. -
Bangladesh Govt prepares model PSC for a fresh bidding round
Posted on March 18, 2025 by Diligentia News in OilGas.The government has moved to launch an onshore bidding round, 28 years after the previous one, to expedite hydrocarbon exploration in onshore areas with a view to meeting the country’s mounting natural gas demand in industries, power plants and other establishments. State-run Petrobangla has already prepared a draft of the Model Production Sharing Contract (MPSC) […]
Continue Reading... No Comments. -
Indian Oil Marketing Companies Launch New Biodiesel Tender for FY 2025-26
Posted on March 18, 2025 by Diligentia News in OilGas.India’s state-owned Oil Marketing Companies (OMCs) have initiated a fresh tendering process for biodiesel procurement, seeking approximately 200 million liters for the first quarter of the upcoming financial year starting April 2025. The latest tender was announced last week by Indian Oil Corporation Limited (IOCL), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited […]
Continue Reading... No Comments. -
GAIL issues swap tender for six LNG cargoes, sources say
Posted on March 18, 2025 by Diligentia News in OilGas.GAIL (India) Ltd has issued a swap tender offering six liquefied natural gas (LNG) cargoes for loading in the United States in exchange for six cargoes to be delivered to India GAIL has 20-year deals to buy 5.8 million metric tons a year of U.S. LNG, split between Dominion Energy’s D.N Cove Point plant and […]
Continue Reading... No Comments.
