Category Archives: OilGas
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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 […]
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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) […]
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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 […]
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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 […]
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Asia’s green jet fuel ambitions exceed demand, heralding exports
Posted on March 18, 2025 by Diligentia News in OilGas.Asia’s ability to supply sustainable aviation fuel will outpace regional demand this year and next as more production comes online, increasing exports and potentially lowering prices for the fuel, oil executives and analysts said. Planned SAF production could take a hit if regional demand remains tepid and prices fall below production costs, industry sources say, […]
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Oil Prices Continue Downward Spiral Amid Market Chaos
Posted on March 11, 2025 by Diligentia News in OilGas.Oil markets have kicked off the new week on the back foot with the oil price selloff deepening amid a raft of bearish catalysts. Brent crude for May delivery fell 1.38% to trade at $69.39 per barrel at 1.44 pm ET on Monday, while WTI crude for April delivery declined 1.37% to change hands at […]
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Government To Enforce Delhi High Court Order In Gas Dispute With Reliance Industries, Says Oil Minister Puri
Posted on March 10, 2025 by Diligentia News in OilGas.Petroleum and Natural Gas Minister Hardeep Singh Puri on Mar. 7 said that his ministry will pursue its demand for $2.81 billion from Reliance Industries Ltd. and its partners till the end, as the court decision on the gas migration row clearly establishes the government’s rights. RIL had earlier received a Rs 245.22 billion ($2.81 […]
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Why has India promised to buy more U.S. Oil?
Posted on March 10, 2025 by Diligentia News in OilGas.The story so far: India committed to procure more oil and natural gas from the U.S. when Prime Minister Narendra Modi met U.S. President Donald Trump in February in Washington amid tariff threats. Foreign Secretary Vikram Misri said India’s energy purchases from the U.S. could increase from last year’s $15 billion to $25 billion in […]
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India’s Gas price index rises 25% YoY in Feb 2025
Posted on March 7, 2025 by Diligentia News in OilGas.India’s Gas Index of India (GIXI) for February 2025 stood at Rs 1,112 per MMBtu ($12.8 per MMBtu), marking a 25 percent year-on-year (YoY) increase. The surge was driven primarily by heightened gas demand from Europe, particularly from gas-based power plants. This increase aligns with the upward trend observed in global gas benchmark prices. European […]
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India Bought 112 Billion Euro Worth Of Russian Oil Since Ukraine War: Report
Posted on March 7, 2025 by Diligentia News in OilGas.The world’s third largest oil consuming and importing nation, spent 102.5 billion euro (about Rs 1500 billion) on buying crude oil from Russia since the start of the Ukraine war, a European think tank said on Thursday. The Centre for Research on Energy and Clean Air (CREA) released a report on payments to Russia for […]
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