Category Archives: OilGas
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WTI Breaks Below $70 as Concerns Over Oil Demand Persist
Posted on September 4, 2024 by Diligentia News in OilGas.Crude oil prices extended a decline that began earlier this week today as pessimism about demand, especially from China, deepened while expectations arose that Libya could resume its oil exports. West Texas Intermediate had dipped below $70 per barrel earlier today, with Brent crude sliding below $74 per barrel, after Libya’s rival governments reached a […]
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Russian oil Shipping costs to India easing
Posted on September 4, 2024 by Diligentia News in OilGas.Freight rates to ship Russia’s Urals crude to India have fallen further and remain at their lowest since Western countries introduced a price cap late in 2022, boosting the economics of Moscow’s oil exports, industry sources told Reuters on Monday. Prices for Urals in India have also strengthened, keeping estimates on a FOB basis in […]
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India’s Petroleum Exports To Europe Up 2,53,788% Since 2018
Posted on September 4, 2024 by Diligentia News in OilGas.India’s petroleum exports to various European markets have seen an extraordinary increase of 2,53,788 per cent in volume between 2018-2019 and 2023-2024. This surge was driven by logistics challenges during the COVID-19 pandemic and the geopolitical impact of Russia’s invasion of Ukraine in early 2022, which boosted demand for Indian petroleum in Europe. In terms […]
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The U.S. Cleantech Industry Is Struggling
Posted on September 3, 2024 by Diligentia News in OilGas.U.S. renewable energy and cleantech companies have been struggling in recent months, with the highest number of such firms filing for bankruptcy since 2014. Many of the cleantech startups received support from investors and climate funds backed by Bill Gates or Amazon a few years ago. But the high interest rates now, some delays in […]
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European Oil Majors Are Set to Struggle as a Supply Glut Looms
Posted on September 3, 2024 by Diligentia News in OilGas.Oil stocks went back in vogue two years ago with a vengeance as investors sought to get a piece of the record profits the industry reaped from the gas squeeze in Europe and the oil squeeze fears prompted by sanctions on Russia. Two years on, and that appeal is dissipating, at least according to some […]
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Gadkari calls for reducing GST on flex-fuel vehicles to 12 %
Posted on September 3, 2024 by Diligentia News in OilGas.Minister for Road Transport and Highways Nitin Gadkari made a pitch for reducing Goods and Services Tax (GST) on flex-fuel vehicles (FFVs) from the current 28 percent to 12 percent. Speaking at the inauguration ceremony of India Bio-Energy & Tech Expo on Monday, Gadkari stressed on the need to make FFVs and ethanol100, or E100 […]
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India’s Russian oil imports soften in August as refinery maintenance season weighs on demand
Posted on September 3, 2024 by Diligentia News in OilGas.India’s crude oil imports from Russia—New Delhi’s largest source market for oil—cooled off sequentially in August from July’s near-record levels as oil demand evidently softened in the run-up to the refinery maintenance season, according to ship tracking data and industry watchers. Relatively lower availability of Russian oil for the export market was also a likely […]
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OIL and IGGL Signs Hook-up Agreement
Posted on September 2, 2024 by Diligentia News in OilGas.Oil India Limited(OIL) and Indra Dhanus Gas Grid Limited (IGGL) signed the hook-up agreements for connecting OIL’s natural gas fields of upper Assam with the Duliajan Feeder Line of the North-East Gas Grid and also for evacuation of natural gas to be produced from OIL’s DSF block in Tripura through IGGL’s 12” NB x 86 […]
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Satish Vadugiri named interim chairmen for IOC, Rajneesh Narang for HPCL
Posted on August 30, 2024 by Diligentia News in OilGas.The government on Wednesday named interim chairmen for top oil firms, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL), as appointment of full-time heads is work in progress. Satish Kumar Vaduguri, Director (Marketing), IOC has been appointed interim chairman of the company for three months starting September 1, an oil ministry order said. […]
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State-owned gas utility GAIL (India) Ltd set to increase liquefied natural gas imports from 2026
Posted on August 30, 2024 by Diligentia News in OilGas.State-owned gas utility GAIL (India) Ltd is set to increase its liquefied natural gas (LNG) imports from 2026. The company has signed two 10-year supply agreements with Vitol Asia Pte Ltd and Adnoc Gas, totalling 1.5 million tonnes per annum. “As a leading natural gas player, your company recognises the importance of ensuring supply security,” […]
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