Category Archives: OilGas
-
Grain and sugarcane to power India’s ethanol production boost to 9.90 billion liters by 2025
Posted on August 20, 2024 by Diligentia News in OilGas.In a significant push toward energy self-sufficiency, India is gearing up to enhance its ethanol production to achieve a 20% blending rate in petrol by the Ethanol Supply Year (ESY) 2025, necessitating an annual production of approximately 9.90 billion liters. To meet this ambitious target, the country is set to optimize the use of both […]
Continue Reading... No Comments. -
Rising demand, stagnant output pushes oil import dependency beyond 88% in April-July
Posted on August 20, 2024 by Diligentia News in OilGas.India’s reliance on imported crude oil to meet its domestic consumption needs climbed to over 88 per cent in the first four months of the current financial year due to rising demand for fuel and other petroleum products amid flagging domestic oil production. The country’s oil import dependency in April-July was 88.3 per cent, up […]
Continue Reading... No Comments. -
Oil Prices on Course for a Weekly Gain as Economic Optimism Returns
Posted on August 16, 2024 by Diligentia News in OilGas.Crude oil prices were set for a weekly increase earlier today as optimism returned to the oil market following the release of a couple of better-than-expected reports on the U.S. economy. One of these was the retail sales report for July, which showed a 1% increase versus expectations of a 0.3% improvement, Reuters reported. The […]
Continue Reading... No Comments. -
Russia Expands ‘Dark Fleet’ to Evade LNG Sanctions
Posted on August 16, 2024 by Diligentia News in OilGas.Russia’s push to navigate sanctions and maintain its foothold in the global LNG market is gaining momentum with the deployment of a second vessel from its Arctic LNG 2 project. The tanker, Asya Energy, part of what’s being dubbed a “dark fleet,” recently departed from the sanctioned terminal in northern Russia, signaling Moscow’s continued efforts […]
Continue Reading... No Comments. -
Jamnagar Refinery is among the top 10 largest oil refineries in the world
Posted on August 16, 2024 by Diligentia News in OilGas.The Al-Zour Refinery in Kuwait, which commenced operations in 2022, has been ranked eighth globally among the largest oil refineries. With a refining capacity of 615,000 barrels per day, it accounts for 8.54% of the total refining operations carried out by the ten largest refineries worldwide, which collectively process 7.2 million barrels of crude oil […]
Continue Reading... No Comments. -
Petronet LNG receives GST Bill of over Rs 40 million, calls tax demand unjustified
Posted on August 16, 2024 by Diligentia News in OilGas.Petronet LNG has received a tax demand of over Rs 40 million from the Department of Goods and Service Tax, New Delhi, the company said in a filing dated August 14. The alleged violations include under-declaration of outward supplies and claiming input tax credit on supplies from GST identification cancelled dealer and from those who […]
Continue Reading... No Comments. -
India ramps up crude oil supply from Russia in the last two months; Iraq, Saudi lag behind
Posted on August 16, 2024 by Diligentia News in OilGas.In CY24, India has sourced the maximum crude oil from Russia in the last two months, while supplies from its traditional suppliers Iraq and Saudi Arabia have depleted to the lowest level in the same period, according to energy cargo tracker Vortexa. In June, at 1.93 million barrels per day (bpd), Indian imports of crude […]
Continue Reading... No Comments. -
As Vaidya’s exit looms, Indian Oil getting ready for a new leadership
Posted on August 16, 2024 by Diligentia News in OilGas.In the coming weeks, Shrikant Madhav Vaidya’s extended tenure as chairman of Indian Oil Corp Ltd (IOCL) will wrap up, and the search for his successor is already in full swing. Last week, a three-member search-cum-selection committee, led by Mallika Srinivasan, chairman of the Public Enterprises Selection Board (PESB), including petroleum secretary Pankaj Jain and […]
Continue Reading... No Comments. -
Indian govt plans 5% ethanol blending in diesel
Posted on August 13, 2024 by Diligentia News in OilGas.The government is evaluating a plan to blend 5% ethanol in diesel (ED-5) as it nears its goal of achieving 20% ethanol blending in petrol within the next two years, according to ToI. A meeting on this new proposal took place last week at the Prime Minister’s Office with all relevant ministries in attendance, souces […]
Continue Reading... No Comments. -
Why state-run oil companies are spending billions on petchem capacity
Posted on August 13, 2024 by Diligentia News in OilGas.In the boardrooms of Indian state refiners and in the halls of the oil ministry, there is a buzz surrounding an esoteric term: The Petrochemical Intensity Index (PII). Indian oil companies plan to produce more of value-added chemicals from processing crude oil while reducing the volume of fuels, whose demand is expected to eventually extinguish […]
Continue Reading... No Comments.
