Category Archives: OilGas
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Is Oil Demand About to Surge?
Posted on April 10, 2025 by Diligentia News in OilGas.Benchmark oil prices hit the lowest level since the pandemic panic on Wednesday. Once again, the slump is caused by panic—this time, market panic as U.S. President Donald Trump keeps turning up the tariff heat. For now, everyone seems to be in the grip of fear about what tariffs would do to oil demand. But […]
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GAIL establishes wholly owned subsidiary in IFSC at GIFT City, Gujarat
Posted on April 9, 2025 by Diligentia News in OilGas.State run Gas utility firm, Gail (India) Ltd has incorporated a wholly owned subsidiary, Gail Global IFSC Ltd with authorised share capital of Rs 170 million with initial paid up capital of Rs 85 billion. The subsidiary will operate as a finance company in IFSC GIFT City, Gujarat to undertake Global and Regional Corporate Treasury […]
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Oil Price Slump, Tariffs Hit Oilfield Services Sector
Posted on April 8, 2025 by Diligentia News in OilGas.Oil prices dropped off a cliff last week after President Trump announced a barrage of tariffs on global trading partners, triggering panic in the trading world. The effect has now rippled across the energy industry, set to discourage production growth—and hurt oilfield service companies. The sector was already worrying about the steel and aluminum tariffs […]
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China’s Multi-Month LNG Buying Strike is a Boon for Europe
Posted on April 8, 2025 by Diligentia News in OilGas.The escalating trade war between the US and China could increase liquefied natural gas flows to energy-stricken Europe, as China remains on a multi-month buying strike. Bloomberg cited marine traffic data from Kpler, showing that no US LNG shipments are currently inbound or about to be inbound to China. “Zero LNG trade between China and […]
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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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