Category Archives: OilGas
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BP to boost oil and gas investment to $10 billion, slashes green spending
Posted on February 28, 2025 by Diligentia News in OilGas.BP announced on Wednesday that it will raise its annual oil and gas investment to $10 billion, reaffirming its focus on fossil fuels as part of CEO Murray Auchincloss’ strategy to enhance returns and strengthen financial performance, Reuters reported. “We will grow upstream investment and production to allow us to produce high-margin energy for years […]
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India’s crude oil production falls 1.2% in January, petroleum output up 8.3%
Posted on February 28, 2025 by Diligentia News in OilGas.India’s crude oil and condensate production stood at 2.5 million metric tonnes (MMT) in January 2025, registering a 1.2% decline compared to the same month in the previous year, according to the latest data from the Petroleum Planning & Analysis Cell (PPAC) under the Ministry of Petroleum & Natural Gas. According to official data, Oil […]
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High spot LNG prices a concern for Indian Gas companies: JM Financial
Posted on February 28, 2025 by Diligentia News in OilGas.The sustained high prices of spot liquefied natural gas (LNG) remain a key concern for Indian gas companies, as it could impact domestic demand and affect the volumes and margins of city gas distribution (CGD) firms, according to a report by JM Financial. The report highlighted that Gujarat Gas (GGas), in particular, faces higher exposure, […]
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The Top 5 Oil Exploration Prospects of 2025
Posted on February 27, 2025 by Diligentia News in OilGas.The global oil industry saw approximately 120 oil and gas discoveries in 2024, the overwhelming majority of which were small incremental reserve additions. This stands in contrast with the previous years when the 2022 discovery of Venus in Namibia, followed by the 2023 Mopane find in the same country, instilled hope in the global upstream […]
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Shell forecasts global LNG demand to increase by 60% by 2040
Posted on February 27, 2025 by Diligentia News in OilGas.Global demand for liquefied natural gas (LNG) is projected to rise by approximately 60% by 2040, primarily fuelled by economic expansion in Asia, according to Shell’s LNG Outlook 2025 report. The report highlights the increasing demand for natural gas as the world transitions to cleaner energy sources. The impact of AI and efforts to reduce […]
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India looking at increasing ethanol blending with petrol to over 20%: Hardeep Singh Puri
Posted on February 27, 2025 by Diligentia News in OilGas.India is looking at increasing its target to blend ethanol with petrol to more than 20% and has formed a committee under the NITI Aayog to look into it, Petroleum and Natural Gas Minister Hardeep S. Puri said on Wednesday (February 26, 2025). Addressing the Advantage Assam 2.0 business summit, he said 19.6% blending has […]
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TAPI Pipeline to Remain Failure Without India and Pakistan’s Participation
Posted on February 27, 2025 by Diligentia News in OilGas.During a cabinet meeting on February 7, President of Turkmenistan Serdar Berdimuhamedov urged Turkmen officials to accelerate the construction of the $10 billion Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline. While highlighting Turkmenistan’s energy policy for 2025, Berdimuhamedov stressed the need to modernize the energy sector on a priority basis to enhance the country’s oil and gas production […]
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Oil India Limited CMD highlights bamboo-based 2G ethanol plant
Posted on February 27, 2025 by Diligentia News in OilGas.At the Advantage Assam 2.0 Summit on Tuesday, Dr Ranjit Rath, Chairman & Managing Director (CMD) of Oil India Limited (OIL), underscored the company’s pioneering efforts in the energy sector, particularly the establishment of a bamboo feedstock-based second-generation (2G) ethanol plant at Numaligarh Refinery Limited(NRL). This initiative, he emphasized, aligns with Prime Minister Narendra Modi’s […]
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Natural Gas is Still a Dirty Word, But It’s Here to Stay: WoodMac
Posted on February 24, 2025 by Diligentia News in OilGas.Natural gas will play a critical role in the global energy transition, serving as a bridge fuel between coal and renewables, according to a new report from Wood Mackenzie. Despite concerns over emissions and affordability, gas is expected to remain a key part of the energy mix for decades, particularly in power generation, industrial processes, […]
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India has lowest petroleum prices in the world, says Union Minister
Posted on February 24, 2025 by Diligentia News in OilGas.Union Petroleum Minister Hardeep Singh Puri asserted that petroleum prices in India were the lowest in the world. The petroleum prices had come down in ‘absolute and real terms’ in the country, he said. The Minister was in the city to address a meeting on Budget with intellectuals and businessmen, on Friday. Addressing a press […]
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