Category Archives: OilGas
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What does Middle East tension, oil price spike mean for India’s macro economy?
Posted on October 3, 2024 by Diligentia News in OilGas.Iran’s recent ballistic missile strike on Israel have fuelled fears of a broader regional conflict across the Middle East, sending crude oil prices up by as much as 4 per cent overnight due to concerns over supply disruptions. As oil prices continue to rise, experts warned that India, which is heavily reliant on energy imports, […]
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Oil Plunges Over 2% on Rumor Saudis Ready To Increase Output
Posted on September 27, 2024 by Diligentia News in OilGas.Brent crude and the U.S. benchmark shed well over 2% on Thursday on mainstream media rumors that Saudi Arabia is planning to unleash more oil on the market, with the Kingdom willing to give up its $100-per-barrel price target. According to a Financial Times report earlier in the day citing unnamed sources, Saudi Arabia is […]
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India’s $100 Billion Oil Exploration Opportunity
Posted on September 27, 2024 by Diligentia News in OilGas.Two weeks ago, we reported that a long exploration effort has led to the reportedly massive discovery of oil and gas reserves in Pakistan’s territorial waters, a cache so large that it is said it could change the economic trajectory of the beleaguered country. Although Pakistan’s hydrocarbon resources are yet to be quantified, some estimates […]
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Inox India and the LNG Boom
Posted on September 27, 2024 by Diligentia News in OilGas.A few months ago, Hertz, a rental giant, was in news for dumping its EV fleet in favour of gas cars. The reason? The hidden costs of EV ownership. The move led to some correction in Tesla and another EV maker Polestar. Back in India, while the EV penetration is unfolding in two and three […]
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India Looks to Balance Short-Term Energy Needs with Long-Term Vision
Posted on September 27, 2024 by Diligentia News in OilGas.India’s growing energy needs are a complex puzzle, with pieces shaped by global politics, economic realities, and a pressing need for cleaner solutions. It’s a balancing act, with the country walking a tightrope between ensuring a reliable and affordable energy supply and pursuing a sustainable future. In a world where energy security is paramount, India […]
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Petrol, diesel price cut before Maha elections? Oil Minister official says prices volatile
Posted on September 19, 2024 by Diligentia News in OilGas.International oil prices continue to be extremely volatile, falling on one day and rising thereafter, a top oil ministry official said explaining the reason behind no reduction in petrol and diesel prices despite softening in input cost, but could not say if the rates will be cut before Maharashtra elections. Global oil benchmark Brent crude […]
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India plans oil, gas exploration licensing round in early 2025, source says
Posted on September 19, 2024 by Diligentia News in OilGas.India aims to launch an oil and gas exploration licensing round early next year, a source at the oil ministry told Reuters on Thursday. Share This
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Indian refiners using Russian insurance for oil above $60/bbl, govt source says
Posted on September 19, 2024 by Diligentia News in OilGas.Indian refiners are using Russian insurance cover for Russian oil cargoes priced above $60 per barrel, a government source told Reuters on Thursday. The Group of Seven (G7), European Union and Australia imposed a price cap of $60 per barrel on Russian sea-borne crude exports aiming to limit Russia’s oil revenue following its invasion of […]
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Oil Prices Resume Post-Cut Rally Despite Demand Doubts
Posted on September 19, 2024 by Diligentia News in OilGas.Crude oil prices were climbing on Thursday morning following the Fed’s announcement of a 0.5% cut in interest rates on Wednesday. The announcement pushed prices up for a short while on Tuesday but the rise quickly fizzled out as it sparked worry about the state of the U.S. economy. Later in the day prices began […]
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Government Removes Windfall Tax On Crude Petroleum
Posted on September 19, 2024 by Diligentia News in OilGas.The Centre on Tuesday, slashed windfall tax on domestically produced crude oil to zero, according to a government notification. This marks the second instance when the tax is scraped to zero since the tax’s implementation. The earlier cut was announced on April 4, 2023. The government reviews and revises the tax on a fortnightly basis. […]
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