Category Archives: OilGas
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Government Allows ONGC, Oil India To Price Gas From New Wells At 20% Premium
Posted on August 13, 2024 by Diligentia News in OilGas.The Union government allowed Oil & Natural Gas Corp. and Oil India Ltd. on Monday to price domestically produced natural gas at 20% premium over the administrative price mechanism in a bid to make new gas development projects viable. In the context of India’s oil and gas sector, the APM refers to a government-controlled pricing […]
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GAIL head Sandeep Gupta in the race for Indian Oil Corp’s new chairman
Posted on August 13, 2024 by Diligentia News in OilGas.Nearly a dozen candidates on Sunday appeared for interview before a search-cum-selection panel that is looking to appoint the new chairman of Indian Oil Corporation (IOC), the nation’s largest oil firm, sources said. While 10 out of the nearly 60 candidates who applied were called for interviews, GAIL chairman and managing director Sandeep Gupta is […]
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Oil India reports 6% increase in Q1 crude oil production
Posted on August 12, 2024 by Diligentia News in OilGas.State-run Oil India Ltd’s crude oil production for the April-June quarter stood at 871,000 tonnes, 6.2% higher on a year-on-year (y-o-y) basis Its crude oil production in the corresponding period of the last fiscal was 820,000 tonnes Further, the public sector energy company’s natural gas production rose nearly 10% to 818 million cubic meters. “Oil […]
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Indian refiners cornered over one-third of Russia’s crude oil exports in H1 2024
Posted on August 12, 2024 by Diligentia News in OilGas.India, the world’s third largest crude oil consumer, accounted for more than one-third of Russia’s cumulative crude oil exports in the first half of the current calendar year. Besides, India coupled with China and Turkey bought more than 90 per cent of the crude oil shipped out of the erstwhile Soviet Union during January-June 2024. […]
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Govt approves ONGC’s Rs.183.65 billion additional investment proposal in OPaL to increase petrochemical presence
Posted on August 12, 2024 by Diligentia News in OilGas.The government has approved ONGC’s proposal to additionally invest Rs.183.65 billion in ONGC Petro-additions Limited (OPaL), the oil and gas giant announced in a statement on Firday, August 9, 2024, and added that this would increase ONGC’s stake in OPaL from 49.36% to 95.69%. ONGC’s total investment in OPaL so far will also thus, add […]
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Swan Energy plans to sell FSRU
Posted on August 9, 2024 by Diligentia News in OilGas.India’s infrastructure firm Sean Energy plans to put its Vasant 1 FLoating Storage And Regasification Unit ( FSRU) up for sale the company informed the stock exchange Share This
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India now depends on Russia for 40 per cent of its oil imports
Posted on August 9, 2024 by Diligentia News in OilGas.During the past three months, India has relied on Russia for 40% of its seaborne crude oil import. Year-to-date, volumes have reached an average of 1.6 million barrels per day (mbpd), an increase of 1000% compared to 2021, according to BIMCO. The increased import of Russian oil has contributed to a higher average sailing distance […]
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Big Oil Doubles Down on LNG as Renewables Falter
Posted on August 7, 2024 by Diligentia News in OilGas.The LNG market is set to see a wave of new supply from 2026 and could be oversupplied from 2026-2027 until the end of the decade. Yet, Big Oil is confident that demand will be there and that their trading strategies and the moves to lock in customers from LNG projects will pay off. Renewables […]
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Conflicting EIA Fuel Demand Data Confuses Oil Market Observers
Posted on August 7, 2024 by Diligentia News in OilGas.The U.S. Energy Information Administration (EIA) has recently puzzled oil market watchers and participants with a considerable upward revision to America’s oil consumption and implied gasoline demand for May. EIA’s weekly data releases for that month painted a picture of tepid U.S. gasoline demand, which contributed to a decline in international oil prices and added […]
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French imports of Russian LNG surge, Ukraine supporters call for halt
Posted on August 7, 2024 by Diligentia News in OilGas.Shipments of Russian liquified natural gas to France more than doubled the first half of this year, according to new analyses of trade data, at a time when Europe has tried to pull back from energy purchases that help finance the Kremlin’s invasion of Ukraine. Europe has restricted oil imports from Russia, but natural gas […]
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