Category Archives: OilGas
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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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2025 Brings Fundamentals Back to the Fore in Oil Markets
Posted on January 14, 2025 by Diligentia News in OilGas.Oil trading in 2024 was marked by the near complete dominance of algorithmic trading. While not a new trend, algo trading arguably reached its peak last year, with technical analysis largely displacing any factual fundamentals considerations. Instead of making traders money, however, algo trading has lost them money. Bloomberg reported earlier this month that 2024 […]
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Stricter US sanctions threaten Russia’s oil trade with India and China: Report
Posted on January 14, 2025 by Diligentia News in OilGas.New US sanctions on Russian oil producers and ships are expected to disrupt Russia’s oil trade with India and China, two of its largest customers, according to a report by news agency Reuters. This development may lead to higher oil prices and increased freight costs for both countries as they look to source oil from […]
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Europe threatens to trigger a global scramble for natural gas supplies
Posted on January 14, 2025 by Diligentia News in OilGas.The world is bracing for a fight for natural gas supplies this year, prolonging the pain of higher bills for consumers and factories in energy-hungry Europe and putting poorer emerging countries from Asia to South America at risk of getting priced out of the market. For the first time since the energy crisis was turbocharged […]
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