Category Archives: OilGas
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India’s natural gas consumption to surpass 64 BCM in 2024
Posted on April 30, 2024 by Diligentia News in OilGas.Natural gas consumption in India is expected to grow by 7 per cent y-o-y to 64.35 billion cubic meters (BCM) in the current calendar year aided by lower prices and rising demand from power and industrial sectors. According to the International Energy Agency (IEA), India is expected to see an increase in LNG imports due […]
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Earnings for Big Oil backpedal as natural gas prices tumble
Posted on April 29, 2024 by Diligentia News in OilGas.U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago. Results at oil and gas firms are still retreating from record levels in 2022 that were boosted by a surge in demand after the COVID-19 pandemic and then when […]
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Norway’s Oil Demand Hasn’t Crashed Despite Record EV Market Share
Posted on April 26, 2024 by Diligentia News in OilGas.The fact that a record 90% share of all new car sales in Norway are electric has failed to make any impact on the country’s oil demand, indicating that hopes of rising EV uptake making an immediate dent in global oil demand are unrealistic. Last year, 82.4% of all new passenger cars sold in Norway […]
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India Will Show World A New Path On Biofuels Through The Global Biofuels Alliance (GBA): Petroleum And Natural Gas Minister Hardeep Singh Puri
Posted on April 26, 2024 by Diligentia News in OilGas.Petroleum and Natural Gas Minister Hardeep Singh Puri has said that India will show the world a new path on biofuels through the Global Biofuels Alliance (GBA). The alliance was launched by Prime Minister Narendra Modi on the sidelines of the G20 Summit. GBA is an India-led initiative to develop an alliance of governments, international […]
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Oil Prices Are Set for a Weekly Gain as Yellen Sees Inflation Falling
Posted on April 26, 2024 by Diligentia News in OilGas.Crude oil prices may end this week in the green as the U.S. Treasury suggested the weak first-quarter GDP data may be revisable and as supply concerns persisted. If the benchmarks do indeed end the week with gains, it would be the first positive week in three. “The U.S. economy continues to perform very, very […]
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GAIL plans to expand LNG trading business to global markets
Posted on April 26, 2024 by Diligentia News in OilGas.India’s top gas marketer GAIL aims to become a global liquefied natural gas (LNG) trader as the expanding market fuels new business opportunities. “We plan to ramp up our LNG trading business. We began with sourcing LNG cargoes for ourselves and have expanded to sourcing cargoes for some other Indian companies. Now we plan to […]
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Standard Chartered: Global Oil Demand Will Pick Up Strongly In May And June
Posted on April 25, 2024 by Diligentia News in OilGas.Oil prices have held steady week on week despite a significant inventory build in U.S. crude two weeks ago, which was countered by a draw in U.S. crude stockpiles for the week ending April 19th. Next to this, traders have become less concerned about a potential supply disruption in the Middle East. The crude inventory […]
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Indian Gas Exchange Launches Small-Scale LNG Contracts
Posted on April 25, 2024 by Diligentia News in OilGas.The Indian Gas Exchange (IGX) having received approval from the Petroleum and Natural Gas Regulatory Board (PNGRB) launched contracts of Small-Scale Liquefied Natural Gas (ssLNG) on its platform. This move marks a significant step towards addressing the demand of natural gas in areas that are not connected to the national gas grid. The introduction of […]
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ONGC plans June drilling for India’s first geothermal project in Ladakh
Posted on April 24, 2024 by Diligentia News in OilGas.Oil and Natural Gas Corp (ONGC) is planning to mount a fresh drilling campaign in June for India’s first geothermal project after suffering a setback two years ago. If successful, the project could open a source for emission-free electricity, space heating, and irrigation in the cold and harsh terrains of Ladakh. The company plans to […]
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India reiterates its partnership with Opec
Posted on April 22, 2024 by Diligentia News in OilGas.India has reiterated its long-standing and constructive partnership with the Organisation of Petroleum Exporting Countries (Opec). India is the second largest export destination for the Opec as a whole, reported WAM . The reiteration of “long-standing” partnership came in a 30-minute telephone conversation with the Opec Secretary General, Haitham Al Ghais and India’s Minister of […]
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