Category Archives: OilGas
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US Oil Suppliers Muscling Into OPEC+ Markets All Over the World
Posted on April 1, 2024 by Diligentia News in OilGas.One major beneficiary of sanctions on Russian and Venezuelan oil? US suppliers who’ve muscled their way into markets once dominated by OPEC and its allies. US oil exports have set five new monthly records since Western nations began imposing sanctions on Russia in 2022. And with trade restrictions on Venezuela set to renew in April, […]
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Bangladesh Govt to procure 24 LNG cargoes from Gunvor Singapore as demand surges
Posted on April 1, 2024 by Diligentia News in OilGas.Each cargo will contain 3.360 billion mmbtu (million British thermal units) LNG and the pricing will be determined based on the JKM (Japan Korea Marker) index. The Cabinet Committee on Economic Affairs on 27 March approved in principle the procurement proposal sent by the Energy Division on 13 March. Zanendra Nath Sarker, chairman of Bangladesh […]
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India accounts for 20% of upcoming regasification capacity in Asia Pacific
Posted on April 1, 2024 by Diligentia News in OilGas.India, the world’s fourth largest liquefied natural gas (LNG) importer, is expanding its natural gas infrastructure by adding 24 million tonnes per annum (mtpa) of capacity accounting for around 20 per cent of the total regasification capacity being added in Asia Pacific. As per the latest annual report of the Gas Exporting Countries Forum (GCEF), […]
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Govt reduces gas price for Reliance to $9.87; rate for CNG, PNG unchanged
Posted on April 1, 2024 by Diligentia News in OilGas.The government on Sunday cut the price of natural gas produced from difficult areas like deep sea KG-D6 block of Reliance Industries, marginally to $9.87 per million British thermal unit in line with softening of benchmark international gas prices, an official notification said. However, the price of gas that is used for making CNG for […]
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Over 20% of the World’s Oil Refining Capacity Is at Risk of Closure
Posted on March 29, 2024 by Diligentia News in OilGas.More than 20% of the total global refining capacity is at some risk of closure as refining margins are set to weaken alongside demand, while carbon taxes could also burden many refiners, Wood Mackenzie has said in a recent report. Overall, based on expected net cash margins in 2030, Wood Mackenzie has identified 121 out […]
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Adani Power enters into 20-year PPA with Reliance Industries
Posted on March 29, 2024 by Diligentia News in OilGas.Adani Power’s wholly-owned subsidiary Mahan Energen Limited (MEL), which recently bagged a big coal block in Chhattisgarh for commercial coal mining, has entered into a 20-year, long-term Power Purchase Agreement (PPA) with Reliance Industries Limited (RIL). The agreement is for the supply of 500 MW of electricity under the captive user policy as defined in […]
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Numaligarh Refinery partnered with Assam Gas Company Limited
Posted on March 29, 2024 by Diligentia News in OilGas.Yet another Landmark Moment. Numaligarh Refinery Limited has partnered with Assam Gas Company Limited by Signing of Sales Purchase Agreement on 27th of March 2024 at Corporate office of NRL in presence of Shri Bhaskar Jyoti Phukan, Managing Director, NRL, Shri Nikunja Borthakur, Sr. CGM (Corp. Affairs), MD, AGCL, Shri Gokul Chandra Swargiary along with […]
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Transporting crude oil from Russia to India offers huge margins
Posted on March 29, 2024 by Diligentia News in OilGas.Discounted seaborne crude oil flowing from Russia to India, which accounts for more than one-third of New Delhi’s overall imports, has opened up avenues to make huge margins — sometimes to the tune of $23 a barrel — from transporting the critical commodity. he findings form part of a report by the Oxford Institute for […]
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Indian refiners buy more US crude amid tighter sanctions on Russian oil
Posted on March 27, 2024 by Diligentia News in OilGas.More than 250,000 barrels per day of U.S. crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude. India, the world’s third-biggest oil importer and consumer, is looking to diversify its oil supplies as fresh U.S. sanctions […]
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LNG importers rush to buy spot cargoes as price hits 3-year low
Posted on March 27, 2024 by Diligentia News in OilGas.Power companies and refineries are doubling down on spot liquefied natural gas (LNG) as prices have hit a three-year low, according to industry officials aware of the development. LNG importers Gail, Gujarat State Petroleum Corporation (GSPC), Torrent Gas, Bharat Petroleum Corp (BPCL) and Indian Oil Corp (IOC), among others, are buying spot cargoes as the […]
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