Category Archives: OilGas
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Big Oil Shrugs at $50 Crude
Posted on March 24, 2025 by Diligentia News in OilGas.Exxon is planning to boost its oil production regardless of where international oil prices are heading. This comes from a senior company executive who spoke to Semafor this week. It also likely reflects the sentiment across the supermajor segment of the energy industry. After all, that’s what the consolidation drive was all about. Exxon announced […]
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ONGC to import ethane to make up for changed Qatar LNG composition
Posted on March 24, 2025 by Diligentia News in OilGas.Oil and Natural Gas Corporation (ONGC) plans to import ethane starting in mid-2028 to compensate for the altered composition of liquefied natural gas (LNG) sourced from Qatar, according to a tender floated by the state-owned firm. India imports 7.5 million tonnes per annum of LNG from Qatar. Under the deal, QatarEnergy supplies 5 million tonnes […]
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Gujarat Gas Pipeline Commissioned: Chhara LNG Terminal to Grid
Posted on March 24, 2025 by Diligentia News in OilGas.A natural gas pipeline, connecting the newly set up 5 million tonnes per annum LNG import terminal at Chhara in the Gir-Somnath district with the gas grid, has been commissioned, Gujarat State Petronet Ltd has said. The pipeline having capacity to ship 18 million standard cubic metres per day was developed by Gujarat State Petronet […]
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Analysts forecast 2025 growth in India’s LPG imports to be slightly lower compared to previous year
Posted on March 21, 2025 by Diligentia News in OilGas.The latest LPG Forecaster published by maritime research consultancy Drewry highlighted the 24 per cent surge in India’s 2024 LPG imports, propelled by strong residential consumption, which was in turn fuelled by the general elections, low domestic production and diversion of domestic LPG to the petchem sector. However, India’s import growth is likely to slow […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]
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