Category Archives: OilGas
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India greenlights massive green hydrogen and electrolyser production projects
Posted on May 20, 2024 by Diligentia News in OilGas.India has taken a significant step in green energy by awarding tenders for 412,000 tonnes of green hydrogen production and 1.5 GW of electrolyser manufacturing, according to the Ministry of New & Renewable Energy (MNRE). Speaking at the World Hydrogen Summit 2024 in the Netherlands, MNRE Secretary Bhupinder S Bhalla highlighted India’s progress under the […]
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Hydrogen-enriched CNG may come to India soon
Posted on May 20, 2024 by Diligentia News in OilGas.Fossil-fuel powered vehicles are seen as a major culprit for air pollution despite its small contribution. The whole world is already undergoing a complete overall due to COVID and some new changes may be seen in the transport sector in India soon. The current BS6 emission norms were tough to comply by and now the […]
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IOCL exports premium fuel to Sri Lanka
Posted on May 20, 2024 by Diligentia News in OilGas.Indian Oil Corporation Ltd. (IOCL) on Saturday exported its first-ever consignment of 100 octane premium fuel, XP100 to Sri Lanka. The product is tailored for premium high-end vehicles. Flagging off the shipment at the Jawaharlal Nehru Port Trust in Mumbai, V. Satish Kumar, Director (Marketing), Indian Oil said this was the third time the Company […]
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As Russian discounts fall, Indian state and private refiners join hands to negotiate better terms
Posted on May 20, 2024 by Diligentia News in OilGas.With discounts on Russian crude oil dwindling, India, in a first such effort, has brought together state-owned and private oil refiners to jointly negotiate for higher discounts and better terms with Russian suppliers, including Russia’s largest oil company Rosneft PJSC. The government-led joint sourcing strategy involves leveraging India’s position as the world’s third-largest crude oil […]
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Russia Discovers Massive Oil and Gas Reserves in British Antarctic Territory
Posted on May 17, 2024 by Diligentia News in OilGas.Russia has found huge oil and gas reserves in British Antarctic territory, potentially leading to drilling in the protected region. The reserves uncovered contain around 511bn barrels worth of oil, equating to around 10 times the North Sea’s output over the last 50 years. The discovery, per Russian research ships, was revealed in evidence submitted […]
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Saudis Fear Overheating Economy Could Slow Diversification from Oil
Posted on May 17, 2024 by Diligentia News in OilGas.The world’s largest crude oil exporter, Saudi Arabia, is looking to prevent its economy from overheating and driving inflation higher as it aims to boost growth in its non-oil sector. Allowing more time to implement the massive investment projects under the Vision 2030 plan to diversify the oil-dependent economy could be a wise move, Saudi […]
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India shows interest in fifth oil and gas licencing round
Posted on May 17, 2024 by Diligentia News in OilGas.TOP officials from the High Commission of India in Tanzania have met and held talks with Petroleum Upstream Regulatory Authority (PURA) leadership about auction of petroleum exploration blocks in Tanzania Mainland scheduled for later this year. According to a statement availed to the media yesterday, the talks took place on Tuesday at PURA offices in […]
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Reliance faces many hurdles in getting crucial crude delivered as global market struggles
Posted on May 17, 2024 by Diligentia News in OilGas.A dearth of heavy crude is forcing one of the world’s biggest buyers to go the extra mile to get the barrels it needs, offering another example of how sanctions and OPEC+ curbs are recasting the supply chain. Reliance Industries Ltd., India’s largest private refiner, purchased about 2 million barrels of Canada’s Access Western Blend […]
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ONGC, Oil India to get relief as Centre cuts windfall tax on crude oil
Posted on May 17, 2024 by Diligentia News in OilGas.The Central government has cut the windfall tax on petroleum crude to Rs 5,700 ($68.34) per metric ton from Rs 8,400 with effect from Thursday, as part of its fortnightly revision that is calibrated with global prices This is the second fortnightly cut in windfall tax in a row after a Rs 8,400 per metric […]
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UAE and Oman Partner for Renewable Energy and Green Tech Projects
Posted on May 15, 2024 by Diligentia News in OilGas.The Middle East is expanding its renewable energy and clean tech sectors at an accelerated pace, as several countries plan for economic diversification beyond oil and gas. While fossil fuels may continue to provide massive revenues for countries such as Saudi Arabia, the UAE, and Qatar, these Middle Eastern states are ensuring they hold a […]
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