Category Archives: OilGas
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Govt cuts windfall tax on petroleum crude to Rs 5,200 per MT from Rs 5,700
Posted on June 3, 2024 by Diligentia News in OilGas.The Indian government has cut the windfall tax on petroleum crude to Rs 5,200 ($62.33) per metric ton from Rs 5,700, effective on June 1, according to a notification issued on Friday. The tax, which is revised every fortnight, remains unchanged at zero for diesel and aviation turbine fuel. The Indian government on May 16 […]
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Domestic Natural Gas Prices Reduced, Government Caps Prices
Posted on June 3, 2024 by Diligentia News in OilGas.The Ministry of Oil has reduced the price of domestic natural gas to USD 8.44 per million metric British thermal units (mmBtu) for June 2024, down from USD 8.90 in the previous month. Despite this reduction, the price will remain capped at USD 6.5 per mmBtu under the current pricing formula, as part of the […]
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India explores for crude oil on sweeter terms after end of Iran oil waiver
Posted on June 3, 2024 by Diligentia News in OilGas.India is trying to leverage its robust ties with West Asian crude oil producers such as Saudi Arabia, Kuwait and the United Arab Emirates (UAE) to source additional volumes at terms similar to those of its annual contracts in a bid to avert any sharp rise in its domestic oil prices. India, the world’s third-largest […]
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India targets global renewable ammonia market, aims for energy leadership
Posted on May 28, 2024 by Diligentia News in OilGas.With the goal of achieving leadership in sustainable energy through smart international partnerships, India is staking its claim in the global market for renewable ammonia. India emphasises its commitment to renewable energy with plans to produce 5 million metric tonnes of renewable hydrogen by 2030 and gain a 10 per cent share of global trade. […]
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CoolCo reveals more details on GAIL LNG carrier charter deal
Posted on May 28, 2024 by Diligentia News in OilGas.LNG carrier operator CoolCo has revealed more details regarding its recent 14-year charter deal with India’s largest gas utility GAIL. CEO Richard Tyrrell said during the company’s first quarter results earnings call on May 22 that this charter deal with GAIL is the largest single contract CoolCo has ever entered into. He said GAIL is […]
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Petronet expects 15 percent rise in India’s LNG imports
Posted on May 28, 2024 by Diligentia News in OilGas.India’s largest LNG importer Petronet LNG expects a 15 rise in the country’s imports of liquefied natural gas during this financial year, according to Petronet LNG’s management. Petronet’s executives said during the company’s earnings call on May 23 that the company expects India’s LNG imports to rise to 27 millions tons in the fiscal year […]
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India’s robust LNG imports are Asia’s standout, but higher prices may weigh: Russell
Posted on May 28, 2024 by Diligentia News in OilGas.Asia’s imports of liquefied natural gas(LNG) are displaying contrasting dynamics in May, with strength in usually price-sensitive buyers like India, but a softer trend in the developed economies such as Japan and South Korea. The top-importing continent is on track to receive about 23.61 million metric tons of the super-chilled fuel this month, according to […]
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Petroleum Secy Inaugurates GAIL’s 10 MW Green Hydrogen Plant
Posted on May 27, 2024 by Diligentia News in OilGas.n May 25th, Mr. Pankaj Jain (1987-batch IAS officer), the incumbent Petroleum Secretary of India, inaugurated the state-of-the-art Green hydrogen plant at GAIL Vijaipur in Madhya Pradesh, as a testament to the union’s National Green Hydrogen Mission (NHM). Present at the event were GAIL Chairman and Managing Director (CMD), Mr. Sandeep Gupta, Director (Projects), Mr. […]
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India, Egypt top destinations for Russian seaborne fuel oil, VGO exports in April, LSEG data shows
Posted on May 24, 2024 by Diligentia News in OilGas.India and Egypt were the top destinations for Russian seaborne fuel oil and vacuum gasoil exports in April, traders said and LSEG data showed. In total, Russian fuel oil and VGO seaborne exports fell in April by 10% month-on-month to about 3.32 million tons, as refining capacity idled due to maintenance, technical outages and drone […]
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India’s use of crude tankers to export diesel slows in May
Posted on May 24, 2024 by Diligentia News in OilGas.Indian refiners’ use of crude oil vessels to ship refined fuels such as diesel to key European markets has diminished in May after volumes neared two-year high levels last month, trade sources and analysts said. That is because rising inventories in the Antwerp-Rotterdam-Amsterdam region and shaky east-west diesel price spreads undermine the case for sellers […]
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