Category Archives: OilGas
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Independent natural gas transport system operator likely soon
Posted on August 28, 2024 by Diligentia News in OilGas.The oil ministry may soon float a cabinet note on setting up an independent transport system operator (TSO) to manage the common carrier capacity of natural gas pipelines to give all gas marketers a level playing field in the country, according to people with knowledge of the matter. The common carrier capacity of a gas […]
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Gas demand uptick driven by power sector bumps up India’s LNG imports in April-July
Posted on August 28, 2024 by Diligentia News in OilGas.Growth in domestic demand for natural gas amid reasonable prices and ample availability of liquefied natural gas (LNG), or super-chilled gas, in the international market led to a double-digit growth in India’s LNG imports in the first four months of the current financial year (FY25). Notably, the uptick in imports came amid a growth in […]
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Asia’s Top Refiner is Struggling With Weak Fuel Demand in China
Posted on August 27, 2024 by Diligentia News in OilGas.The first-half earnings report of the largest refiner in Asia, China Petroleum and Chemical Corporation, confirmed market concerns about a weak fuel demand in China. China Petroleum and Chemical Corporation, commonly known as Sinopec, reported this weekend a first-half net profit that rose 1.7% year-over-year to $5 billion (35.7 billion Chinese yuan). The higher earnings […]
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India’s LNG imports during May-July 2024 at 4-year high
Posted on August 27, 2024 by Diligentia News in OilGas.India’s imports of liquefied natural gas (LNG) rose to a multi-year high during May-July 2024 driven by an unprecedented heat wave coupled with record high temperatures pushing electricity consumption to a new high. According to energy intelligence firm Vortexa, India’s monthly LNG imports in May, June and July 2024 hit a four year record, averaging […]
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Reliance to Invest Rs.10 billion in CBM
Posted on August 27, 2024 by Diligentia News in OilGas.Reliance Industries Limited (RIL) has announced a significant investment of Rs.10 billion to enhance coal bed methane (CBM) production from its existing blocks in India. This move is aimed at reversing the recent decline in CBM production. BM, a form of natural gas extracted from coal seams, is considered a cleaner alternative to conventional fossil […]
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Oil & gas firms’ prioritise green hydrogen, carbon capture to achieve net-zero targets
Posted on August 27, 2024 by Diligentia News in OilGas.India’s oil and gas companies are focussing on initiatives such as green hydrogen and carbon capture, utilization and storage (CCUS) as they move towards achieving net-zero emission targets. The companies are committing large investments towards energy transition, particularly in the renewable space, an oil ministry journal on net-zero plans has said. The first-of-its kind report, […]
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Domestic gas drives industrial consumption
Posted on August 27, 2024 by Diligentia News in OilGas.Natural gas consumption in India is recovering from the post-COVID-19 slump, primarily driven by the fertiliser, city gas distribution (CGD) and industrial sectors. Even though the power sector has shown an incremental increase in gas use for peak power demand in the last two fiscal years, it has not reached pre-pandemic levels yet. Small- to […]
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GAIL inks MoU with Petron Scientech to setup bio-ethylene plant in India
Posted on August 23, 2024 by Diligentia News in OilGas.GAIl (India) said that it has signed Memorandum of Understanding (MoU) with Petron Scientech Inc (Petron) to jointly explore setting up of a 500 Kilo Tons per Annum (KTA) bio-ethylene plant in India. Petron specializes in setting up biomass and grain processing biorefinery projects to produce ethanol, bio-ethylene, bio-chemicals (ethylene oxide / mono ethylene glycol, […]
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India Beats China To Become Russia’s Top Oil Buyer In July
Posted on August 23, 2024 by Diligentia News in OilGas.India became the largest importer of Russian oil in July beating China which reduced its purchases due to lower profit margins in fuel production Data on Indian shipments from trade and industry sources revealed that Russian crude imports increased by 12% year-on-year to 44% of India’s total imports last month, reaching a record high of […]
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Environmentalists Sue UK for Oil and Gas Licenses
Posted on August 22, 2024 by Diligentia News in OilGas.An ocean conservation entity is suing the UK state for 31 oil and gas exploration licenses issued by the previous government earlier this year. Oceana UK claims the issuing authorities had failed to consider the effects of exploration on marine life, Reuters reported. The entity is part of a group called the Ocean Alliance Against […]
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