Category Archives: OilGas
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Gazprom Plans for End of Russian Gas Flows to Europe via Ukraine
Posted on November 27, 2024 by Diligentia News in OilGas.Gazprom is assuming in its internal planning for 2025 that it would not be sending natural gas to Europe via Ukraine as of January 1, a source with knowledge of the Russian gas giant’s plans told Reuters. Gazprom’s management has yet to approve the plan for next year, but its base-case scenario is that there […]
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Oil Prices Stable as Israel-Hezbollah Ceasefire Takes Effect
Posted on November 27, 2024 by Diligentia News in OilGas.Crude oil prices remained stable today as a ceasefire between Israel and Hezbollah took effect, suggesting the end of violence in the oil region could be in sight. Separately, expectations that OPEC+ will extend its production cuts on Sunday helped keep the benchmarks steady. Brent crude was trading at $72.88 per barrel at the time […]
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India’s PM Modi Says Guyana Crude Is Key For India’s Energy Security
Posted on November 27, 2024 by Diligentia News in OilGas.Two weeks ago, U.S. oil and gas giant, Exxon Mobil Corp. (NYSE:XOM) announced it had reached 500M barrels of oil produced from Guyana’s offshore Stabroek block, just five years after it kicked off production at the location. According to Exxon, the first three projects–Liza Phase 1, Liza Phase 2 and Payara–are already pumping more than […]
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Asian LNG Prices Could Soar Amid Tighter European Market
Posted on November 27, 2024 by Diligentia News in OilGas.The price of liquefied natural gas in Asia could surge to above $20 per million British thermal units this winter as supply tightens in Europe, Goldman Sachs has predicted. “That’s the near term dynamic, given this vulnerability of Europe, the lack of spare capacity, the loss of the residual Russian volumes currently going through Ukraine, […]
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Petrobangla cancels ongoing negotiations
Posted on November 27, 2024 by Diligentia News in OilGas.The interim government has cancelled ongoing negotiations with several companies, including a couple of Indian ones, over inking contracts to import re-gasified liquefied natural gas (RLNG) from India through cross-border pipelines. State-run Petrobangla has cancelled the negotiations in line with directives from the Energy and Mineral Resources Division under the Ministry of Power, Energy and […]
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OPEC Has Little Room to Revive Oil Supply, Iran Official Says
Posted on November 27, 2024 by Diligentia News in OilGas.OPEC has little scope to reverse its oil production cuts, which have triggered a wave of rival supply from the US shale industry, Iran’s representative to the group said. “This strategy in support of prices has effectively encouraged higher supply outside the group, particularly on the part of the US,” Iranian OPEC governor Afshin Javan […]
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Pak Cabinet approves MoU with US, oil import from India
Posted on November 26, 2024 by Diligentia News in OilGas.The cabinet which met here under Prime Minister Raja Pervez Ashraf also approved the memorandum of understanding (MoU) with the United States on new terms of engagements and restoration of Nato supply routes. Briefing the media representatives later, Information Minister Qamar Zaman Kaira said this is in line with parliamentary committee’s guidelines that there would […]
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Dip in international oil prices hits Indian petroleum product exports
Posted on November 26, 2024 by Diligentia News in OilGas.Subdued international oil prices have depressed India’s per unit realisation of petroleum product exports that plunged over two-and-a-half times to $312.50 per tonne in the first half of 2024-25 from around $792 a tonne in H1 of 2023-24 despite a robust jump in volume-wise shipments, according to official data. Poor realisation through exports of refined […]
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Goldman Sachs Expects Brent Oil to Average $76 Per Barrel in 2025
Posted on November 25, 2024 by Diligentia News in OilGas.Brent Crude oil prices are set to average $76 per barrel next year, down from an expected average of $80 a barrel in 2024, amid an expected surplus on the market, according to Goldman Sachs. “Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the […]
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Reliance Industries: Navigating Retail and Refining Challenges
Posted on November 25, 2024 by Diligentia News in OilGas.Reliance Industries is tackling two significant challenges impacting its performance. The first challenge, a rebound in refining margins, signals a shift in market dynamics, while sluggish retail growth poses a more unpredictable hurdle, according to a JP Morgan report. Reliance’s stock has fallen 22% from its July peak as the NIFTY index dipped just 3.3%, […]
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