Category Archives: OilGas
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Honeywell to acquire Air Products’ LNG biz for $1.81 bn
Posted on July 12, 2024 by Diligentia News in OilGas.Automation, aviation and energy transition company Honeywell has acquired US-based Air Products’ liquefied natural gas (LNG) process technology and equipment business for $1.81 billion in an all-cash transaction, representing around 13x its estimated 2024 EBITDA. Honeywell says the acquisition will allow it to offer customers a comprehensive, top-tier solution for managing its energy transformation journey. […]
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BPCL Likely To Set Up Its New Refinery In Machilipatnam
Posted on July 12, 2024 by Diligentia News in OilGas.In a major development, Andhra Pradesh is likely to get two big ticket projects soon. While Bharat Petroleum Corporation Limited (BPCL) is looking at Andhra Pradesh to establish a new refinery, VinFast, an electric vehicle manufacturing company Vietnam, expressed interest to invest in Andhra Pradesh. BPCL’s refinery would fetch Rs 60,000 to Rs 700 billion […]
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BP Predicts Global Oil Demand Will Peak In 2025
Posted on July 11, 2024 by Diligentia News in OilGas.British Oil & Gas giant BP Plc (NYSE:BP) has predicted that global oil demand will peak next year while wind and solar capacity will continue to grow rapidly. In its latest edition of its annual Energy Outlook, BP has published a study of the evolution of the global energy system to 2050. BP has modeled […]
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India eyes energy deals with Rosneft and other Russian companies
Posted on July 11, 2024 by Diligentia News in OilGas.India wants to strengthen its energy ties with Russia and could seek deals with Rosneft and other leading Russian oil firms as part of a broader push to boost bilateral trade, Foreign Secretary Vinay Mohan Kwatra said on Tuesday. Indian Prime Minister Narendra Modi and Russian President Vladimir Putin have set a target of increasing […]
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India’s clean air target at risk as gas plan caught in regulatory minefield
Posted on July 11, 2024 by Diligentia News in OilGas.If India is serious about more than doubling the share of natural gas in the country’s energy mix by 2030, justifying the billions of dollars of investments being made by the state in a national gas grid, and charting a path towards less polluting fuels, then it needs to review recent actions that threaten to […]
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Untether the fuel nozzle: What India’s oil & gas sector needs from Modi 3.0
Posted on July 11, 2024 by Diligentia News in OilGas.When Narendra Modi took the prime ministerial office for the first time in 2014, he set clear goals for the oil and gas sector. Strong policy support and close oversight helped boost fuel access in a decade Households’ access to cooking gas has since become nearly universal. Network of petrol pumps has expanded by about […]
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ONGC to invest Rs 2000 billion to meet net zero emission target
Posted on July 10, 2024 by Diligentia News in OilGas.State-owned Oil and Natural Gas Corporation (ONGC) will invest about Rs 2000 billion in setting up renewable energy sites and green hydrogen plants and cutting gas flaring to zero to achieve its 2038 net-zero carbon emission goal. The company, which produces about two-thirds of India’s crude oil and about 58 per cent of natural gas, […]
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India-Russia to push long-term arrangement for crude supplies at annual summit
Posted on July 10, 2024 by Diligentia News in OilGas.New Delhi and Moscow during PM Narendra Modi’s visit (July 8-9) will push for a long-term arrangement for crude supplies from Russia to India in the backdrop of rising Russian oil exports. The need for a long-term arrangement enabling smooth supply of Russian crude to India at discounted rates has been under discussion between the […]
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Will OPEC+ Ever Rein In Its Non-Compliant Members?
Posted on July 8, 2024 by Diligentia News in OilGas.OPEC and the OPEC+ group have had reasons to be happy this week as Brent oil prices topped $87 per barrel. But the most recent rise in oil is no thanks to the OPEC+ members that have continuously failed to comply with their production cuts. The price rally was the result of signs of strong […]
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CNG Vehicle Registrations In Mumbai Rise 37% In A Year, Surpass Pre-Covid Levels
Posted on July 8, 2024 by Diligentia News in OilGas.There has been a 37% rise in annual registrations of Compressed Natural Gas (CNG) vehicles in Mumbai, with numbers jumping from 22,305 vehicles in 2022-23 to 30,548 in 2023-24. Moreover, for the fisrt time ever, the state, too, boasts of having an annual registration of over 0.2 million CNG vehicles, reveals latest statistics procured by […]
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