Category Archives: OilGas
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Chinese Investments In U.S. Shale Gas Have Been Bad For The Sector
Posted on April 3, 2024 by Diligentia News in OilGas.The United States is currently experiencing a post-pandemic boom in foreign direct investment (FDI), thanks in large part to new industrial policies that incentivize U.S. manufacturing investment such as the Inflation Reduction Act (IRA) and the CHIPS Act as well as overall resilience of the U.S. economy. FDI in the United States increased $216.8 billion […]
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Seros Energy achieves 10,000-meter monthly drilling on CBM
Posted on April 3, 2024 by Diligentia News in OilGas.Oil field services provider Seros Energy on Monday announced that it achieved a significant milestone by consistently delivering over 10,000 meters of wells on a monthly basis, exclusively for coal bed methane (CBM) drilling projects across India. The company also made a noteworthy indent as an Indian service provider to execute more than 200 hydraulic […]
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ADNOC Gas makes $13bn LNG commitment
Posted on April 3, 2024 by Diligentia News in OilGas.ADNOC Gas is to invest $13 billion in domestic and international opportunities in the next five years and aims to more than double its liquefied natural gas (LNG) production capacity by 2028. The $65 billion top 20 oil and gas company included the commitments in its 2023 results, in which it recorded a net income […]
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Indian Oil Corp Shifts To Spot Market As Russian Contract Ends: Report
Posted on April 3, 2024 by Diligentia News in OilGas.The oil supply agreement between Rosneft and Indian Oil Corp, which expired in March, has not been renewed due to disagreements over price and volumes, according to a Reuters report citing sources familiar with the matter. As a result, India’s leading refiner has resorted to spot markets. The annual oil deal between IOC and Rosneft […]
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Crude oil’s climb towards $90 per barrel is a matter of anxiety for India, oil secretary Pankaj Jain says
Posted on April 3, 2024 by Diligentia News in OilGas.Crude oil’s climb towards $90 per barrel is a matter of anxiety for India, oil secretary Pankaj Jain has said. “Whenever prices go up, it does cause anxiety, cause concern,” Jain said. Brent, the international crude benchmark, has risen to $89 per barrel, adding $15 in about four months. “Does it stop at $90? That’s […]
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Russia’s Sokol Crude Starts to Move to India Again via Traders
Posted on April 2, 2024 by Diligentia News in OilGas.Despite stricter enforcement of the U.S. sanctions against Russian oil exports, some tankers loaded with Russia’s Sokol crude grade are near India signaling Indian ports as their destinations, vessel-tracking data compiled by Bloomberg showed on Tuesday. After more than a year of gorging on cheaper Russian crude, Indian refiners began to avoid Sokol shipments at […]
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Petrochemicals Are Driving 90% Of China’s Oil Demand Growth
Posted on April 2, 2024 by Diligentia News in OilGas.Last year, Bloomberg caused quite a stir in energy circles when it predicted that global demand for road fuel will peak in 2027. According to Bloomberg, demand for road fuel will hit an all-time high of 49 million barrels per day just three years from now before entering terminal decline. Bloomberg says that rapid adoption […]
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UAE Slashes Exports of Medium Sour Crude
Posted on April 1, 2024 by Diligentia News in OilGas.The United Arab Emirates (UAE) is slashing exports of its Upper Zakum grade as it is diverting more volumes of the medium sour crude to a huge domestic refinery, traders and analysts have told Reuters. ADNOC, the state oil and gas firm of one of OPEC’s top producers and exporters, is estimated to have shipped […]
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Asia LNG Purchases Hit March Record
Posted on April 1, 2024 by Diligentia News in OilGas.Imports of liquefied natural gas into Asia last month hit the highest ever for that month, at 24 million tons, which was a 12% increase on a year earlier, Bloomberg reported, citing Kpler data. The leaders of the importers’ pack were China, India, and Thailand, the data showed, with imports expected to continue at elevated […]
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Natural Gas Producers Are Ready To Pounce When Prices Rebound
Posted on April 1, 2024 by Diligentia News in OilGas.U.S. natural gas producers are slashing production in response to multi-year low prices. But they are also looking beyond the current slump, preparing to turn on more output by flexible operation of their inventory of wells. “Natural gas is currently pricing at or below costs of production,” an executive at an exploration and production company […]
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