Category Archives: OilGas
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Europe’s LNG Tango: A Love-Hate Relationship with Reality
Posted on February 19, 2025 by Diligentia News in OilGas.The European Union, ever the conflicted protagonist in its own energy saga, is gearing up to throw its weight around in the global LNG market—again. A leaked draft from the European Commission suggests Brussels will “immediately engage” with LNG suppliers to stabilize energy prices, all while still pretending it’s on track to kiss fossil fuels […]
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G7 Weighing Tightening Russian Oil Price Cap
Posted on February 19, 2025 by Diligentia News in OilGas.The Group of Seven is considering collectively tightening an oil price cap on Russian petroleum in an effort to cut Moscow’s oil revenues as the war in Ukraine rages on, Bloomberg has revealed. A draft statement seen by Bloomberg shows that these nations could task their finance ministers to collectively redraw the price limit–currently set […]
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China LNG Tariffs Put Future Contracts in Jeopardy
Posted on February 19, 2025 by Diligentia News in OilGas.Ten days ago, China announced retaliatory tariffs on American energy imports and also announced an antitrust investigation into Google, just minutes after a sweeping levy on Chinese products imposed by U.S. President Donald Trump took effect. Beijing said it would implement a 15% tariff on coal and liquefied natural gas (LNG) products as well as […]
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Experts question viability of more oil, gas imports from United States
Posted on February 19, 2025 by Diligentia News in OilGas.With the US pushing for significantly increasing its oil and gas supplies to India, experts have questioned the cost viability of the proposal. They said the US, currently India’s fifth-largest crude oil supplier, may become a costly import option for Indian refiners due to higher landing costs as against traditional suppliers in Central Asia or […]
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SAM, A&O Shearman act on IndianOil – ADNOC 1.2 MMTPA LNG deal
Posted on February 19, 2025 by Diligentia News in OilGas.Shardul Amarchand Mangaldas & Co (SAM) and A&O Shearman acted on IndianOil Corporation Limited entering into a long-term sale and purchase arrangement for LNG with Abu Dhabi Gas Liquefaction Company Limited. (ADNOC) ADNOC will be supplying 1.2 MMTPA of LNG to IndianOil for a period of 14 years. The deal is valued in the range […]
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Rs 250 billion relief for Indian Oil, BPCL, HPCL? Oil ministry approaches Finance Ministry
Posted on February 19, 2025 by Diligentia News in OilGas.Oil marketing companies could soon get a big monetary relief of up to Rs 250 billion soon. The oil ministry is expecting financial support for OMCs like Indian Oil , Bharat Petroleum Corporation, Hindustan Petroleum Corporation in the second supplementary demand for grants for the financial year 2025. ET NOW has learnt from sources that […]
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India can lessen reliance on Russian oil if US emerges as key supplier
Posted on February 19, 2025 by Diligentia News in OilGas.US President Donald Trump’s recent proposal to sell more oil and gas to India could significantly reduce New Delhi’s purchases of discounted Russian oil, thought to be funding Moscow’s war with Ukraine. Analysts expect Delhi to welcome the move by Washington, which could induce Russia to sell its oil at market rates. India and China […]
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BPCL expects to get gas from Mozambique LNG project by 2029, says CMD
Posted on February 18, 2025 by Diligentia News in OilGas.Bharat Petroleum Corporation Ltd (BPCL) expects receiving gas from the Mozambique project by early to mid-2029 if the liquefied natural gas (LNG) project resumes operations this calendar year, chairman and managing director G Krishnakumar has told Moneycontrol. “There was a force majeure in Mozambique. We are hopeful that it will resume but the operator is […]
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ONGC is accelerating expansion with billion-dollar deals to secure India’s energy future
Posted on February 17, 2025 by Diligentia News in OilGas.Oil & Natural Gas Corporation Ltd (ONGC), which contributes around 70% of India’s crude oil and approximately 84% of its natural gas production, is on an aggressive expansion drive to reinvent itself and remain a key contributor to India’s energy security. Last week, ONGC entered into a series of major deals in this direction. On […]
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More than happy to buy more US gas; can buy Russian oil via clean channel’: IOC Chairman Arvinder Singh Sahney
Posted on February 17, 2025 by Diligentia News in OilGas.India’s largest refiner and fuel retailer Indian Oil Corporation (IOC) is optimistic about the prospects of higher energy imports from the US, particularly natural gas imports amid rising gas consumption in the country. And while IOC is also keen to step up purchases of American crude, volume growth shall be contingent upon how competitively it […]
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