Category Archives: OilGas
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Indian Oil Corp seeks sour oil from spot market, trade sources say
Posted on January 17, 2025 by Diligentia News in OilGas.Indian Oil Corp(IOC), the country’s top refiner by capacity, is seeking to buy high-sulphur oil through spot tenders, its first sour crude import tenders since March 2022, trade sources said on Thursday. The company has also launched a separate tender seeking sweet crude, the sources said. IOC is seeking cargoes loading March 1-15. The tenders […]
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India overhauls E&P regulations in a bid to raise domestic hydrocarbon production
Posted on January 17, 2025 by Diligentia News in OilGas.How legislative reforms and ambitious exploration plans are transforming India into a global energy investment hotspot—and why international investors are taking notice. Global investors take notice when a nation importing more than 85% of its crude oil decides to revolutionise its energy exploration framework. India’s recent parliamentary approval of amendments to the Oilfields (Regulation and […]
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U.S. Sanctions on China’s Oil Firms Are Just the Beginning Under Trump
Posted on January 15, 2025 by Diligentia News in OilGas.Among the swathe of Chinese entities last week placed by the U.S. Department of Defense (DOD) on a blacklist of firms believed to be supporting Beijing’s military were several from its energy sector. Most notable of all, perhaps, were the China National Offshore Oil Corporation’s (CNOOC) international oil trading arm and the COSCO Shipping Corporation. […]
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India rushes to pay for Russian oil ahead of sanctions cutoff
Posted on January 15, 2025 by Diligentia News in OilGas.India’s state refiners are rushing to speed up payments for Russian crude, hoping to complete their trades before a dramatic expansion of Washington’s curbs on Moscow’s oil industry effectively comes into force next month, people familiar with the matter said. Pressure to stay clear of sweeping US sanctions means the refiners are now aiming to […]
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OPEC, IEA to launch reports on India’s oil & gas sector at IEW 2025
Posted on January 15, 2025 by Diligentia News in OilGas.he India Energy Week (IEW), government’s annual flagship oil and gas sector conference, will witness top international agencies such as OPEC and the International Energy Agency (IEA) launch their oil and gas reports on the world’s third largest energy consumer. The development indicates India’s growing importance as an energy consumer. At IEW 2024, the International […]
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US ban on Russian oil may not have instant impact
Posted on January 15, 2025 by Diligentia News in OilGas.The recent sanctions imposed by the US on the Russian oil are unlikely to have an immediate or direct impact on India’s oil supply. Any major effects are expected to be felt in next two months, as per a senior official in the petroleum ministry. The official said, on condition of anonymity, the worst-case scenario […]
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Indian Gas Exchange plans to offer 3-6 month contracts
Posted on January 14, 2025 by Diligentia News in OilGas.The Indian Gas Exchange (IGX) has sought regulatory approvals to launch 3-6 month gas contracts benchmarked to international gas prices, its chief executive Rajesh Kumar Mediratta said. IGX currently allows gas suppliers to sell the fuel on the exchange for durations ranging from daily, weekly, fortnightly and monthly. It also offers intraday trading at a […]
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Fresh US sanctions on Russian oil to disrupt Indian imports, may end price discounts, says top official
Posted on January 14, 2025 by Diligentia News in OilGas.Fresh sanctions slapped by the US government on Russian oil will start impacting Indian imports of the commodity after the wind-down period expires in two months, a top government official said. The emerging scenario may also lead to a cessation of price discounts on Russian oil in “the worst-case scenario,” the official said. On Friday, […]
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Indian Refiners Cease Trade with U.S-Sanctioned Russian Tankers
Posted on January 14, 2025 by Diligentia News in OilGas.India’s refiners have stopped doing business with the Russian tankers and companies sanctioned by the U.S. on Friday, a source at the Indian government told Reuters on Monday. The outgoing U.S. Administration last week imposed the most severe sanctions on Russia’s oil yet, designating two major Russian oil companies, Gazprom Neft and Surgutneftegas, as well […]
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Six EU Members Want Lower Price Cap for Russian Oil
Posted on January 14, 2025 by Diligentia News in OilGas.Six European Union members have called on the Commission to lower the price cap set on Russian oil prices by the G7 as part of a sanction series aiming to cripple Russia’s economy in response to its 2022 incursion into Ukraine. “Measures that target revenues from the export of oil are crucial since they reduce […]
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