Category Archives: OilGas
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Indian refiner BPCL sees further cuts in oil OSPs as fuel margins drop
Posted on July 22, 2024 by Diligentia News in OilGas.Bharat Petroleum Corp, India’s third-biggest refiner, expects Middle Eastern producers to cut the official selling prices (OSPs) of their crude in coming months to reflect lower margins on fuel sales, its head of finance said . Lower fuel cracks – the difference between the cost of crude oil and refined product sales – are hitting […]
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Oil Ministry announces plans for energy security fund
Posted on July 22, 2024 by Diligentia News in OilGas.Oil Minister Hardeep Singh Puri on Saturday said that the ministry will set up an energy security fund, emphasising that it will help domestic oil and gas firms stay relevant in the future. The Ministry of Oil and Natural Gas (MoPNG) held a day-long strategising session in Bangaluru on Saturday, holding deliberations with top ministry […]
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India supasses United States to have 15 per cent blended fuel as base fuel last month: Hardeep Singh Puri
Posted on July 22, 2024 by Diligentia News in OilGas.Under PM Narendra Modi’s leadership, India has even surpassed United States to have a 15% blended fuel as base fuel, last month, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri said on Saturday. Union Minister engaged in discussion with top officials of oil sector PSUs & Petroleum Ministry on strategizing India’s energy mix […]
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Cost escalation of Mozambique LNG project likely around $3.5-4 billion: BPCL
Posted on July 22, 2024 by Diligentia News in OilGas.State-run Bharat Petroleum Corporation (BPCL) said on Saturday that it expects cost escalation of $3.5-4 billion in the Total Energies-led liquefied natural gas (LNG) project in Cabo Delgado province in Mozambique. Share This
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Rajasthan govt begins process to explore coal bed
Posted on July 19, 2024 by Diligentia News in OilGas.The process to find the possibilities of Coal Bed Methane and underground coal gasification has started in Rajasthan, said officials here adding that the CBM makes a significant source of energy in countries like America, Canada and Australia. The possible sites for exploration are in Bikaner, Barmer and Nagaur. Oil India Limited officials have been […]
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Four Unexplored Indian Basins May Hold More Oil Than The Permian
Posted on July 18, 2024 by Diligentia News in OilGas.Four largely unexplored sedimentary basins in India could hold up to 22 billion barrels of oil, S&P Global Commodity Insights has reported. In effect, lesser-known Category II and III basins, namely Mahanadi, Andaman Sea, Bengal, and Kerala-Konkan contain more oil than the Permian Basin, which has already produced 14 billion barrels of its 34 billion […]
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Indian oil PSU’s have global presence with net investments of $40.6 billion, across 21 countries, says Hardeep Puri
Posted on July 18, 2024 by Diligentia News in OilGas.These Indian PSUs have established a significant presence globally, with a total of 45 assets spread across 21 countries. They have a cumulative investment of about US$ 40.6 billion, said Puri. This substantial investment highlights India’s strategic efforts to secure energy resources and ensure energy security by diversifying its sources and establishing a global footprint. […]
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Seasonal Demand and Production Cuts Drive Oil Rally
Posted on July 18, 2024 by Diligentia News in OilGas.Oil bulls have a narrow window for bullish bets as driving season and weather disruptions create a prime opportunity for a market rally. With the driving season in full swing and weather-related production disruptions upon us, now may be the best chance for a market rally this year. It is a pivotal moment for bulls, […]
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India ups LNG imports in June
Posted on July 18, 2024 by Diligentia News in OilGas.The country imported about 2.64 billion cubic meters, or about 2 million metric tonnes of LNG, in June via long-term contracts and spot purchases, a rise of 11.4 percent compared to the same month in 2023, PPAC said. In May this year LNG imports dropped compared to the previous year, while in April this year […]
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Oil Minister Hardeep Puri says India offers Rs 100 bn investment opportunities in explorations & productions
Posted on July 12, 2024 by Diligentia News in OilGas.While addressing the ‘Urja Varta 2024’ , Union Minister for Oil and Gas Hardeep Singh Puri said on Thursday that India offers an investment opportunity of at least 100 billion by 2030 in the Exploration and Production of energy. Despite the progress in exploration, Puri asserted that the potential still lies untapped within India’s 26 […]
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