Category Archives: OilGas
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Two Tankers With Russian Crude Idle for Weeks Off India
Posted on March 21, 2024 by Diligentia News in OilGas.Two tankers carrying Russian flagship Urals crude have been idling off the West Coast of India for more than three weeks without any indication of when they will unload. The Aframax tanker Crude Centurion arrived at the West Coast of India on Feb. 21, about 100 miles away from Sikka, its destination. Another, the Afragold, […]
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Higher domestic gas production to keep LNG imports range-bound for two years
Posted on March 21, 2024 by Diligentia News in OilGas.India’s liquefied natural gas (LNG) imports are expected to remain range-bound for the next two years, beginning FY25, on account of growing production of natural gas in the country, ratings agency CareEdge said. India is envisaged to have a robust demand for natural gas from all the major consumption segments such as fertilisers, city gas […]
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DMEA: Saudi Aramco to reduce supply of oil to China, India
Posted on March 19, 2024 by Diligentia News in OilGas.Saudi Aramco is set to reduce its supply of crude oil to customers in China and India due to upcoming oilfield maintenance, according to comments made by five sources on March 11. The plans for reduction come following a decision by the Organisation of the Petroleum Exporting Countries and their allies (OPEC+) to extend voluntary […]
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Venture Global LNG to buy fleet of LNG vessels
Posted on March 19, 2024 by Diligentia News in OilGas.Venture Global LNG said on Sunday it would acquire a fleet of nine liquefied natural gas(LNG) transport vessels, expanding its ability to sell and ship its own cargoes. Venture Global has exported hundreds of cargoes since it started liquefying gas for export in 2022 from the first of its three planned facilities in Louisiana. The […]
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Reliance on oil imports rises in April-February, likely to hit fresh full-year high in FY24
Posted on March 19, 2024 by Diligentia News in OilGas.Growing demand for fuel and other petroleum productsamid stagnant domestic crude oil output resulted in India’s reliance on imported crude increasing to nearly 88 per cent in April-February, indicating that oil import dependency for the full financial year 2023-24 (FY24) could breach the all-time-high FY23 levels. As per latest data released by the oil ministry’s […]
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India’s LNG imports jump in February
Posted on March 19, 2024 by Diligentia News in OilGas.India’s liquefied natural gas (LNG) imports jumped in February compared to the same month in 2023, according to the preliminary data from the oil ministry’s Petroleum Planning and Analysis Cell. The country imported about 2.44 billion cubic meters, or about 1.8 million tonnes of LNG, in February via long-term contracts and spot purchases, a rise […]
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Saudi Arabia’s Non-Oil Revenue Hits 50% Of GDP
Posted on March 18, 2024 by Diligentia News in OilGas.For decades, Saudi Arabia has been regarded as the de facto leader of OPEC and a swing-producer critical to curtailing large price overshoots in either direction. Over the past few years, the Arab nation has borne the lion’s share of OPEC+ production cuts after recently agreeing to cut 1 million barrels per day or nearly […]
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Saudi Arabia’s Non-Oil Revenue Hits 50% Of GDP
Posted on March 18, 2024 by Diligentia News in OilGas.For decades, Saudi Arabia has been regarded as the de facto leader of OPEC and a swing-producer critical to curtailing large price overshoots in either direction. Over the past few years, the Arab nation has borne the lion’s share of OPEC+ production cuts after recently agreeing to cut 1 million barrels per day or nearly […]
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No delay over IOC-Mercator petroleum deal: DIPAM
Posted on March 18, 2024 by Diligentia News in OilGas.The Department of Investment and Public Asset Management (DIPAM) has clarified that its approval was not sought for Indian Oil Corp’s acquisition of Mercator Petroleum Ltd through the insolvency process and that there was no delay on its part that affected closing of the transaction Responding to a March 13 ET report that said IOC’s […]
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Union Minister Launches Indian Oil’s ETHANOL 100 Automotive Fuel”
Posted on March 18, 2024 by Diligentia News in OilGas.Hardeep Singh Puri, Union Minister for Petroleum & Natural Gas and Housing and Urban Affairs, launched ‘ETHANOL 100, a revolutionary automotive fuel at Indian Oil Retail Outlet M/s. Irwin Road Service Station, New Delhi today. Customers can avail ETHANOL 100 at select 183 retail outlets of Indian Oil across five states – Maharashtra, Karnataka, Uttar […]
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