Category Archives: OilGas
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Indian gas exchange expects trading in green certificates
Posted on May 6, 2024 by Diligentia News in OilGas.Indian Gas Exchange, India’s only gas trading platform, expects trading in green gas certificates to start early next year as the mandatory usage of compressed biogas by city gas distribution companies gets triggered next April. The Union government has made it mandatory that the CGD companies must use 1% of their requirement as CBG from […]
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Indian Energy Exchanges overall trade volume rises 14% to 9,044 million units in April
Posted on May 3, 2024 by Diligentia News in OilGas.The Indian Energy Exchange (IEX) posted 14.1 per cent growth in its overall trade volume at 9,044 million units in April as compared to the year-ago period. The exchange achieved 7,928 MU overall trade volume in April 2023, including green market trade of 280 MU, 1,99,000 RECs (renewable energy certificates equivalent to 199 MU) and […]
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Aramco Leads Oil Industry Investment in AI
Posted on May 3, 2024 by Diligentia News in OilGas.Saudi Aramco is the biggest investor in artificial intelligence in the oil industry. The fact was recently revealed in a report by GlobalData, which also showed the Saudi state major was investing heavily in all sorts of cutting-edge technology. Because this is where competition will be in the future. Saudi Aramco spent $3.5 billion on […]
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India’s crude oil imports from Russia jump 18% in April amid decline in total imports
Posted on May 3, 2024 by Diligentia News in OilGas.India’s crude oil imports fell around 8 percent in April from the previous month amid the country’s efforts to ramp up domestic production and reduce reliance on imports. According to energy tracker Vortexa, India’s total crude oil imports stood at 4.5 million barrels per day (bpd) in April, lower than 4.9 million bpd in March. […]
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Reliance Industries Ltd starts trading US oil setting Brent oil benchmark
Posted on May 3, 2024 by Diligentia News in OilGas.Reliance Industries Ltd (RIL) has made its first foray into trading a type of U.S. crude oil that underpins the global Brent benchmark in a process run by oil-index publisher S&P Global Commodity Insights, the publisher said. RIL, operator of the world’s biggest refining complex, on Wednesday offered a cargo of WTI Midland in the […]
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BP appoints Kartikeya Dube as India unit chief
Posted on May 2, 2024 by Diligentia News in OilGas.BP has appointed Kartikeya Dube as its India unit chief, the energy major said in a statement on Tuesday Dube’s appointment will be effective from July 1. He will take over from Sashi Mukundan who will retire from BP after serving the company for over 42 years. Kartikeya has been with BP for more than […]
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India cuts windfall tax on petroleum crude
Posted on May 2, 2024 by Diligentia News in OilGas.India has cut its windfall tax on petroleum crude to 8,400 Indian rupees ($100.66) a metric ton from 9,600 rupees with effect from May 1, the government said on Tuesday. The tax, which is revised every fortnight, was left unchanged at zero for diesel and aviation turbine fuel. The government had on April 16 raised […]
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Commissioning of India’s Chhara LNG terminal delayed
Posted on May 2, 2024 by Diligentia News in OilGas.India’s Hindustan Petroleum, a unit of state-owned ONGC, has reportedly delayed the commissioning of its Chhara LNG import terminal in Gujarat. LNG Prime reported on April 15, citing shipping data, that the 2015-built 159,800-cbm, Maran Gas Mystras, has arrived at the 5 mtpa LNG terminal in the Chhara port on April 11. Prior to that, […]
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QatarEnergy doles out $6 billion for 18 huge LNG vessels on historic fleet expansion mission
Posted on May 1, 2024 by Diligentia News in OilGas.Qatar’s state-owned energy giant QatarEnergy is bolstering its giant liquefied natural gas (LNG) fleet expansion with a $6 billion deal for 18 ultra-modern QC-Max size LNG vessels, which are said to be the largest LNG ships ever built. The Qatari heavyweight’s agreement with China State Shipbuilding Corporation (CSSC)will enable the construction of 18 QC-Max size […]
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GAIL to Expand LNG Trading Globally
Posted on April 30, 2024 by Diligentia News in OilGas.GAIL’s plans for global expansion underscore its strategic vision to diversify its business portfolio and tap into new growth avenues. By venturing into international LNG trading, the company aims to leverage its expertise and experience in the energy sector to capture a larger share of the global LNG market The expansion of GAIL’s LNG trading […]
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