Category Archives: OilGas
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Subsidies to oil & gas sector reduce 85% to $3.5 bn in 10 years: MNRE
Posted on November 6, 2024 by Diligentia News in OilGas.Subsidies to the oil & gas sector saw a reduction of 85 per cent from a peak of $ 25 billion in 2013 to $ 3.5 billion by 2023, according to an official note on Monday. Since 2010, India has steadily reformed its fossil fuel subsidies, adopting a “remove, target, and shift” approach, the Ministry […]
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India Diesel Demand Growth Slows
Posted on November 5, 2024 by Diligentia News in OilGas.The growth in demand for diesel fuel in India is slowing down, the latest sales figures have suggested, with the total for October flat on the year, per a report by Bloomberg citing government data. Sales of diesel fuel in the country stood at 7.64 million tons last month, the data showed, with sales over […]
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Aramco and ADNOC Look To Seize More Market Share in Asia
Posted on November 5, 2024 by Diligentia News in OilGas.As Asia is driving almost all of the global oil demand growth today and is set to continue to do so in the coming decades, some of the world’s biggest oil producers, those in the Middle East, are looking to expand their presence in the key demand growth market. Saudi oil giant Aramco and Abu […]
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Indraprastha Gas And Mahanagar Gas’ Margin Pain Likely To Continue In Near Term—Here’s Why
Posted on November 5, 2024 by Diligentia News in OilGas.Indraprastha Gas Ltd. and Mahanagar Gas Ltd. may experience further decline in unit margin after having contracted by over 20% year-on-year in the second quarter of fiscal 2025 due to several negative developments ranging from lower subsidised-gas allocation to higher gas costs and increased competitions. This has led analysts to cut these companies’ earnings estimates […]
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Cairn Oil & Gas joins UN’s methane reduction initiative, first in India
Posted on November 5, 2024 by Diligentia News in OilGas.Cairn Oil & Gas, a Vedanta Group company, has become India’s first oil and gas producer to join the United Nations Environment Programme’s Oil & Gas Methane Partnership (OGMP) 2.0, signing a memorandum of understanding on Monday, in Abu Dhabi. The shares of Vedanta Limited were trading at ₹455.65 down by ₹11.70 or 2.50 per […]
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India’s fuel consumption rises in October; Petrol demand up 8.3%, diesel steady
Posted on November 5, 2024 by Diligentia News in OilGas.India’s petrol consumption rose by 8.3% year-on-year in October 2024, reaching 3,401 thousand metric tonnes (TMT) compared to 3,140 TMT in the same month last year, according to the latest data from the Petroleum Planning and Analysis Cell(PPAC). Diesel consumption, however, remained flat, inching up only 0.08% to 7,640 TMT from 7,634 TMT in October […]
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Crown executes final agreements for LNG projects
Posted on November 5, 2024 by Diligentia News in OilGas.Crown LNG Holdings Ltd, a leading provider of LNG liquefaction and regasification terminal technologies for harsh weather locations, has announced the conclusion of two strategic acquisition agreements forming the basis of Crown LNG’s entry into the global LNG infrastructure network: KGLNG and Grangemouth. The KGLNG agreement finalises the acquisition of all shares of KGLNG, which […]
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ONGC fails again to attract bids for stake in Deen Dayal gas field
Posted on November 4, 2024 by Diligentia News in OilGas.State-owned Oil and Natural Gas Corporation’s (ONGC) third attempt to get a partner to rescue the Deen Dayal gas field in the KG basin in Bay of Bengal has met with the same fate as previous efforts as it got no bids, sources said. The tender offering stake to technical and financial partners in the […]
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VTTI looks to buy into LNG terminals in Asia
Posted on November 4, 2024 by Diligentia News in OilGas.Energy storage company VTTI BV, backed by Abu Dhabi’s main oil company and Vitol Group, is looking to invest in LNG import terminals in Asia as demand for the fuel increases in the region, according to Bloomberg. “There is a lot of potential in India, Bangladesh, Pakistan and the Philippines,” Chief Executive Officer Guy Moeyens […]
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India’s natural gas production dips 1.6% in September; LNG imports surge by 13.5%
Posted on October 29, 2024 by Diligentia News in OilGas.India’s natural gas production for September 2024 recorded a gross output of 2,977 MMSCM, showing a decline of 1.6% compared to the same month last year, according to the Petroleum Planning & Analysis Cell (PPAC). Despite this drop, LNG imports surged by 13.5%, reaching 2,932 MMSCM, highlighting the country’s increasing reliance on imports to meet […]
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