Category Archives: OilGas
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India’s Petroleum Demand To Grow 3-4% In FY25: Fitch
Posted on January 6, 2025 by Diligentia News in OilGas.India’s petroleum products demand is expected to rise by three to four percent in the financial year ending March 2025, lower than five percent growth in FY24, according to a report by Fitch Ratings. The growth in the current fiscal is supported by rising consumer, industrial and infrastructure demand, the rating agency said in the […]
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India’s fuel consumption surges in 2024, driven by higher petrol demand
Posted on January 2, 2025 by Diligentia News in OilGas.India’s fuel demand saw an uptick in 2024 as the country’s energy consumption continues to grow amid the aim of becoming a ‘Viksit Bharat’ by 2047. According to the oil ministry data, India’s petrol consumption rose by almost 8 percent in the year till November from the previous year, while diesel—the most consumed petroleum product […]
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Oil and gas industry set for long-term benefits with digitalisation: Report
Posted on January 2, 2025 by Diligentia News in OilGas.Certain technologies, such as artificial intelligence (AI), blockchain, cloud computing, the Internet of Things (IoT), robotics, and virtual and augmented reality (VR and AR), are now part of the oil and gas industry The GlobalData’s report, titled ‘Digitalisation in Oil and Gas,’ highlights the role of major oil and gas companies, such as ADNOC, BP, […]
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Oil Demand Stays Strong Despite EV Surge
Posted on December 30, 2024 by Diligentia News in OilGas.In the new hit TV show “Landman”, the lead character, Tommy Norris, delivers a five-minute speech that summarizes just how critical for modern civilization crude oil is. Everything, up to and including wind turbines, depends on oil. This year, with record EV sales in China and the continued build out of wind and solar in […]
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India’s oil import bill drops despite rising import volumes
Posted on December 30, 2024 by Diligentia News in OilGas.India’s oil import bill has seen a reduction year-on-year for the months of September, October, and November, despite an increase in import volumes, according to data from the petroleum Ministry. This marks a shift from earlier in the fiscal year when the value of oil imports had been higher compared to the same period in […]
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Qatar agrees to supply LNG to Gail India in five-year deal
Posted on December 17, 2024 by Diligentia News in OilGas.Qatar will supply liquefied natural gas to Gail India Ltd. from next year under a new five-year pact, according to people with knowledge of the matter. India’s state-owned company will receive one LNG shipment a month from April 2025 until March 2030, said the people, who asked not to be identified because the information is […]
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Natural gas consumption rises 12%, LNG imports jump 18% in H1 FY25
Posted on December 17, 2024 by Diligentia News in OilGas.India’s domestic natural gas production recorded a modest growth of 1.6% during April-September 2024, increasing to 18,160 MMSCM from 17,879 MMSCM in the corresponding period of 2023, according to a report by the Petroleum Planning & Analysis Cell (PPAC). The marginal rise was attributed to an 8.6% production increase in PSC/JV fields and a 3.9% […]
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Massive LNG Expansion Expected Worldwide Despite Green Transition
Posted on December 16, 2024 by Diligentia News in OilGas.Since 2022, several countries worldwide have announced plans to expand their natural gas production capacity over the next decade, with multiple new large-scale projects coming online over the last three years. This was largely driven by the 2022 Russian invasion of Ukraine and subsequent sanctions on Russian energy, which led to a global shortage of […]
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LPG demand to decline 7% by 2030 on growing piped natural gas adoption
Posted on December 16, 2024 by Diligentia News in OilGas.India’s liquefied petroleum gas (LPG) demand will decline by 7% by 2030 after having risen 82% in a decade as a planned massive adoption of piped natural gas will eat into its growth, according to a joint study by the Petroleum and Natural Gas Regulatory Board (PNGRB) and Deloitte. Household consumption makes up about 90% […]
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India’s import of Russian oil drops in Nov to lowest level since June 2022
Posted on December 16, 2024 by Diligentia News in OilGas.India’s import of Russian crude oil dropped in November to its lowest level since June 2022 but the Kremlin continues to be the biggest source of oil for India, according to a monthly tracker report of a European think tank. India became the second biggest buyer of Russian crude oil since Moscow invaded Ukraine in […]
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