Category Archives: OilGas
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India eyes higher ethanol blend post-2025 mandate
Posted on October 16, 2024 by Diligentia News in OilGas.The Indian government has begun discussions to develop a post-2025 roadmap to further raise the ethanol blend in gasoline from 20%, said Hardeep Singh Puri, Minister of Petroleum and Natural Gas in an industry event on Oct. 14. Talk of raising the blend target has come about as the 2025 target of 20% appears likely […]
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ONGC looks at mini-LNG plants to evacuate natural gas from isolated fields
Posted on October 14, 2024 by Diligentia News in OilGas.State-owned Oil and Natural Gas Corporation (ONGC) is looking to set up mini-LNG plants to evacuate natural gas from wells located in areas that are not connected with pipelines. The firm has identified five sites in Andhra Pradesh, Jharkhand and Gujarat for setting up mini plants at wellhead that will convert the gas pumped out […]
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Gujarat Leads India’s Green Transition
Posted on October 14, 2024 by Diligentia News in OilGas.Gujarat has taken center stage in India’s renewable energy revolution, notably under the leadership of Prime Minister Narendra Modi. The state, historically under Modi’s transformative governance, has demonstrated significant progress over the last 23 years. With a total power generation capacity of 52,424 MW, Gujarat stands as a beacon for renewable energy, attributing 50 percent […]
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Oil Prices Start the Week in Decline on Bearish Economic Data From China
Posted on October 14, 2024 by Diligentia News in OilGas.Crude oil prices were falling at the start of the week following the latest economic news from China which was interpreted as bearish for oil demand. That latest news was inflation data for September, which showed consumer prices had only gone up modestly, by 0.4%, falling short of economist expectations of 0.6% as shared with […]
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Indian company among dozen sanctioned by US for illicitly carrying Iranian oil
Posted on October 14, 2024 by Diligentia News in OilGas.An Indian shipping firm is among the dozen-odd companies sanctioned by the US for allegedly carrying Iranian oil for sale to buyers in Asia days after slapping restrictions targetting Iran’s energy trade for its October 1 attack on Israel. Gabbaro Ship Services, the India-based company, was involved in the transport of Iranian petroleum as the […]
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Surprise Crude Inventory Spike Slams Oil Prices
Posted on October 9, 2024 by Diligentia News in OilGas.Crude oil inventories in the United States rose by a shocking 10.9 million barrels for the week ending October 4, according to The American Petroleum Institute (API). Analysts had expected a build of 1.95 million barrels. For the week prior, the API reported a 1.5-million-barrel decrease in crude inventories. So far this year, crude oil […]
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India clears 1 million sq km for oil exploration in ‘no-go’area: Hardeep Singh Puri
Posted on October 9, 2024 by Diligentia News in OilGas.India has cleared 1 million square kilometers of its 3.5 million square kilometers of sedimentary basin for oil and gas exploration, a significant portion that was previously classified as a “no-go” area, said Petroleum Minister Hardeep Singh Puri announced at the FT Live Energy Transition Summit. Of the bids received in the Open Acreage Licensing […]
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Fuel demand drops to two-year low in September
Posted on October 9, 2024 by Diligentia News in OilGas.Fuel consumption in September fell by 1.6% year-on-year to 17.92 million metric tons, its lowest in two years, oil ministry data showed on Monday (October 7, 2024), as above-normal monsoon rains continued to weigh on diesel demand. WHY IT IS IMPORTANT: India is the third-largest consumer and importer of oil. The data is a proxy […]
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India dominates global natural gas contracts in 2024, cornering 30% of market share
Posted on October 9, 2024 by Diligentia News in OilGas.Globally, around 50 billion cubic meters (BCM) per year of natural gas contracts were inked with upcoming, or post-Final Investment Decision (FID), projects from January to August 2024, of which India cornered the highest share of 30 per cent. FID is the final stage in a project, where it is determined whether to proceed with […]
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Oil Prices Tumble 4% as Demand Fears Override Middle East Risk
Posted on October 9, 2024 by Diligentia News in OilGas.Oil prices slumped by more than 4% early on Tuesday as traders have yet to see an actual supply disruption in the Middle East while focusing on China’s underwhelming demand again. Both benchmarks, WTI Crude and Brent Crude, were down by about 3% as of 9:30 a.m. EDT on Tuesday. The U.S. benchmark fell below […]
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