Category Archives: OilGas
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Good if we get Russian crude, but no major concern if we don’t: BPCL Director (Refineries) Sanjay Khanna
Posted on February 24, 2025 by Diligentia News in OilGas.Fuel retailer Bharat Petroleum Corporation (BPCL) does not expect any disruption in supply of Russian crude to have significantly impact its profitability or crude supply security since discounts on Russian crude have shrunk considerably and there are numerous oil supply sources available, according to BPCL’s director (refineries) SANJAY KHANNA. As for its planned greenfield coastal […]
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Oil Prices Inch Higher on Caspian Supply Disruption and Cold Weather in the U.S.
Posted on February 19, 2025 by Diligentia News in OilGas.Crude oil prices rose today following a drone attack on the Caspian Pipeline Consortium and cold weather in the United States, both disruptive to production. At the time of writing, Brent crude was trading at $75.90 per barrel, with West Texas Intermediate at $71.91 per barrel. A statement by the Russian government said that flows […]
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Iranian Oil Exports to China Rebound
Posted on February 19, 2025 by Diligentia News in OilGas.Iranian crude oil flows to China have rebounded this month after a U.S. crackdown on shipments launched in late 2024 decimated them in January. In a last-minute push to sanction Iran, the Biden admin blacklisted a number of tankers, trading entities, and shipping companies as participants in sanctioned oil trade. The February average of Iranian […]
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Brazil Joins OPEC+
Posted on February 19, 2025 by Diligentia News in OilGas.Brazil has joined OPEC+ two years after the group extended an invitation, but its membership will not be binding with regard to production cuts, the country’s energy minister said. At the announcement of the Brazilian government’s decision to join the group, Mines and Energy Minister Alexandre Silveira described OPEC as “a forum for discussing strategies […]
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Europe’s LNG Tango: A Love-Hate Relationship with Reality
Posted on February 19, 2025 by Diligentia News in OilGas.The European Union, ever the conflicted protagonist in its own energy saga, is gearing up to throw its weight around in the global LNG market—again. A leaked draft from the European Commission suggests Brussels will “immediately engage” with LNG suppliers to stabilize energy prices, all while still pretending it’s on track to kiss fossil fuels […]
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G7 Weighing Tightening Russian Oil Price Cap
Posted on February 19, 2025 by Diligentia News in OilGas.The Group of Seven is considering collectively tightening an oil price cap on Russian petroleum in an effort to cut Moscow’s oil revenues as the war in Ukraine rages on, Bloomberg has revealed. A draft statement seen by Bloomberg shows that these nations could task their finance ministers to collectively redraw the price limit–currently set […]
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China LNG Tariffs Put Future Contracts in Jeopardy
Posted on February 19, 2025 by Diligentia News in OilGas.Ten days ago, China announced retaliatory tariffs on American energy imports and also announced an antitrust investigation into Google, just minutes after a sweeping levy on Chinese products imposed by U.S. President Donald Trump took effect. Beijing said it would implement a 15% tariff on coal and liquefied natural gas (LNG) products as well as […]
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Experts question viability of more oil, gas imports from United States
Posted on February 19, 2025 by Diligentia News in OilGas.With the US pushing for significantly increasing its oil and gas supplies to India, experts have questioned the cost viability of the proposal. They said the US, currently India’s fifth-largest crude oil supplier, may become a costly import option for Indian refiners due to higher landing costs as against traditional suppliers in Central Asia or […]
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SAM, A&O Shearman act on IndianOil – ADNOC 1.2 MMTPA LNG deal
Posted on February 19, 2025 by Diligentia News in OilGas.Shardul Amarchand Mangaldas & Co (SAM) and A&O Shearman acted on IndianOil Corporation Limited entering into a long-term sale and purchase arrangement for LNG with Abu Dhabi Gas Liquefaction Company Limited. (ADNOC) ADNOC will be supplying 1.2 MMTPA of LNG to IndianOil for a period of 14 years. The deal is valued in the range […]
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Rs 250 billion relief for Indian Oil, BPCL, HPCL? Oil ministry approaches Finance Ministry
Posted on February 19, 2025 by Diligentia News in OilGas.Oil marketing companies could soon get a big monetary relief of up to Rs 250 billion soon. The oil ministry is expecting financial support for OMCs like Indian Oil , Bharat Petroleum Corporation, Hindustan Petroleum Corporation in the second supplementary demand for grants for the financial year 2025. ET NOW has learnt from sources that […]
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