Category Archives: OilGas
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Gas Glut? Not for Long.
Posted on April 8, 2024 by Diligentia News in OilGas.Natural gas prices are falling all over the world. There is abundant supply, and demand has been lukewarm this northern hemisphere winter, which was relatively mild. Indeed, the global gas market is in oversupply. This prompted Morgan Stanley to recently forecast a gas glut that we have not seen in decades. It was going to […]
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Reliance Industries, Tata Motors & IOC Key Bidders For Government’s Big Pilot Project On Green Or Grey Hydrogen In Transport Sector
Posted on April 8, 2024 by Diligentia News in OilGas.Reliance Industries (RIL), Tata Motors, and Indian Oil Corporation (IOC) are set to be the primary bidders for the government’s experimental project involving green/grey hydrogen (H2) in the transportation sector. This initiative aligns with the government’s goal to decarbonize the Indian economy, lessen reliance on fossil fuel imports, and position India as a leader in […]
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Former Gazprom unit rejects GAIL demand for compensation over non-supply of LNG
Posted on April 8, 2024 by Diligentia News in OilGas.A former unit of Russian energy giant Gazprom has rejected state-owned GAIL (India) Ltd’s demand for compensation for non-delivery of LNG supplies in the aftermath of Russia’s invasion of Ukraine In a stock exchange filing, GAIL said SEFE Marketing Trading Singapore Pte Ltd has stated that it does not owe anything other than the defaulted […]
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‘Not dictating…’: US officials say they haven’t asked India to reduce purchase of Russian oil
Posted on April 5, 2024 by Diligentia News in OilGas.The United States has not asked India to stop or reduce its oil imports from Russia, nor has it sanctioned any Indian entity for buying and refining crude oil purchased from Moscow since the beginning of its war with Ukraine, according to two senior Biden administration officials who are currently in India to visit their […]
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Oil Surges Over $90 as UAE Cuts Diplomatic Ties with Israel
Posted on April 5, 2024 by Diligentia News in OilGas.At this point Israel’s ties with key Gulf countries like the UAE are near breaking point, after only a few short years ago diplomatic normalization was hailed through Trump’s Abraham accords. But international and Israeli press reports are confirming the UAE has announced it is halting all coordination on humanitarian aid with Israel. Further, as […]
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India’s green hydrogen value chain a $125-billion investment opportunity by 2030: Avendus Capital
Posted on April 5, 2024 by Diligentia News in OilGas.The green hydrogen value chain in India is likely to create a cumulative investment opportunity of as much as $125 billion by 2030, driven by the rising focus on sustainability, demonstrated commercial viability, expanding use-cases and a strong regulatory push, according to Avendus Capital. The biggest chunk within this opportunity is renewable energy production, the […]
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NE Gas Grid to be expanded to other countries
Posted on April 4, 2024 by Diligentia News in OilGas.As part of India’s larger energy diplomacy, the government is planning to extend the North Eastern Gas Grid (NEGG) to neighboring countries such as Bangladesh, Nepal and Bhutan after its completion in the next two months. According to officials of the petroleum ministry, work on the NEGG, which aims to create a natural gas pipeline […]
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Oil India Ltd clocks its highest-ever crude oil, gas production in FY2023-24
Posted on April 4, 2024 by Diligentia News in OilGas.State-run Oil India Limited (OIL) has achieved its all-time high production of crude oil and natural gas of 6.53 MMTOE (Million Metric Ton of oil equivalent) in FY2023-24, said Petroleum Minister Hardeep Singh Puri on X in a post on Wednesday. Stressing on the role played by public sector energy companies in ensuring India’s energy […]
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EV adoption may pose threat to CNG firms dominance in India: Report
Posted on April 4, 2024 by Diligentia News in OilGas.Electric vehicle (EV) adoption may pose a threat to the “dominance” of compressed natural gas (CNG) sector in India, according to a report released on Tuesday. Indraprastha Gas Limited (IGL) reports high growth but the city gas distributor’s future may be limited amid the EV surge – a trend reported for such companies in China, […]
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Russia continues to remain India’s top crude supplier; imports rise 7% in March
Posted on April 4, 2024 by Diligentia News in OilGas.India received 1.36 million barrels of crude oil in a day from Russia in March, according to energy cargo tracker Vortexa. This was 7 percent higher than in the previous month, as India had imported 1.27 million barrels per day (bpd) from Russia in February. India’s imports from Russia exceeded supplies from other countries, including […]
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