Category Archives: OilGas
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Europe’s Gas Supply Tightens as Norway Begins Field Maintenance
Posted on August 22, 2024 by Diligentia News in OilGas.Europe is facing a tighter gas market as Norwegian field operators enter scheduled maintenance season. Any unplanned extension of the maintenance period would cause an imbalance on gas markets on the continent and leas to price rises, Bloomberg reported. “Europe is already struggling,” Florence Schmit, a European energy strategist at Rabobank, told the publication. “Any […]
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Why Lack Of Government Support On LPG Loss Could Hit Oil Firms Hard
Posted on August 22, 2024 by Diligentia News in OilGas.Oil marketing companies saw weaker earnings in the first quarter of fiscal 2025, mainly on the back of loss on cooking gas sales ranging from Rs 20 billion to Rs 40 billion. At the run-rate seen in the April-June quarter, companies like Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. could record losses […]
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The World’s Biggest Gas Reservoir Is At A Tipping Point
Posted on August 21, 2024 by Diligentia News in OilGas.Iran is embarking on a US$70 billion investment programme of measures to attempt to halt a dramatic decline in output from its crucial South Pars gas field. A failure to do so will result in the loss of 40 percent of the country’s petrol output from the Persian Gulf Star gas condensate refinery, and the […]
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EIL and IndianOil completes RCC Chimney at SGU of P-25 Project in Panipat
Posted on August 21, 2024 by Diligentia News in OilGas.Engineers India Limited along with Indian Oil Corporation successfully completed the RCC Chimney Shell Casting using the advanced Slip Form Technique at the Steam Generation Unit (SGU) of the P-25 Project in Panipat. This decision to opt for an RCC chimney over a traditional metal one is driven by several key advantages including its superior […]
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Petronet signs deal with with Sri Lankan company to supply LNG to Colombo
Posted on August 21, 2024 by Diligentia News in OilGas.Petronet LNG Ltd, India’s biggest gas importer, on Tuesday (August 20) said it has entered into a Memorandum of Understanding (MoU) with LTL Holdings Ltd (LTL) of Sri Lanka to supply liquefied natural gas (LNG) to LTL’s dual-fueled power plants in Kerawalapitiya, Colombo. “…we wish to inform that Petronet LNG Limited (PLL) has entered into […]
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Oil Giants IOC, HPCL And BPCL Eye LPG Supply Contract With Norway’s Equinor: Report
Posted on August 21, 2024 by Diligentia News in OilGas.An Indian consortium of state-run oil marketing companies is in talks with Norway’s Equinor for long-term liquefied petroleum gas (LPG) contracts. This move is seen as an attempt to diversify sourcing away from traditional Middle Eastern suppliers amid escalating regional tensions. What Happened: The consortium includes Indian Oil Corporation Limited (IOCL), Hindustan Petroleum Corporation Ltd […]
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Govt’s 20% ethanol blending in petrol by 2025 will need more sugarcane: Study
Posted on August 21, 2024 by Diligentia News in OilGas.The government’s aim to blend 20 per cent ethanol in petrol by Ethanol Supply Year (ESY) 2025 will require more sugarcane utilisation, a report said on Monday. This is also likely to improve sugar inventory level and cash flows of millers, it added. An ESY runs from November to October. India’s aim to blend 20 […]
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U.S. LNG Struggles to Balance Growth with Sustainability
Posted on August 20, 2024 by Diligentia News in OilGas.The United States became the world’s largest exporter of liquefied natural gas a year ago amid a flood of cheap natural gas from the shale wells of Texas and New Mexico that prompted a series of LNG projects along the Gulf Coast. Lately, however, the industry has started to lose momentum—because of regulations and a […]
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Oil Prices Drop as War Premium Evaporates
Posted on August 20, 2024 by Diligentia News in OilGas.Crude oil prices slumped today following the news that Israel had accepted a proposal aimed at solving disagreements on a plan for ceasefire in Gaza. Brent crude dropped below $78 per barrel in midmorning Asian trade and West Texas Intermediate slipped below $74 per barrel earlier in the day, with little in the way of […]
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Surge in LPG and Petrol use drives 7.4% growth in India’s oil demand
Posted on August 20, 2024 by Diligentia News in OilGas.India witnessed a 7.4% increase in its petroleum product consumption in July 2024, totaling 19.65 million metric tonnes, according to the latest report from the Petroleum Planning and Analysis Cell (PPAC). This uptick is largely fueled by heightened economic activitiesand government infrastructure projects across the country. Liquefied petroleum gas (LPG) usage saw the most significant […]
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