Category Archives: OilGas
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PNGRB Advances Plans to Transport Green Hydrogen Through Natural Gas Pipelines
Posted on March 12, 2024 by Diligentia News in OilGas.The Petroleum and Natural Gas Regulatory Board (PNGRB) is making strides in transporting green hydrogen through natural gas transmission lines by blending hydrogen with natural gas to integrate green energy into the nation’s infrastructure. With a considerable portion of the Natural Gas Transmission pipeline network already operational, PNGRB views this as a strategic step in […]
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Rs 2.2 trillion revenue foregone due to excise duty cuts on petrol, diesel: Hardeep Puri
Posted on March 11, 2024 by Diligentia News in OilGas.Union minister for petroleum and natural gas, Hardeep Singh Puri, announced on Saturday that the government forewent approximately Rs 2.2 trillion in revenue due to cuts in excise duty on petrol and diesel from November 2021 to May 2022. Addressing a press conference, Puri discussed the measures taken by the Modi government to manage fuel […]
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Saudi Aramco Reduces Heavy Crude Supply to Asia
Posted on March 11, 2024 by Diligentia News in OilGas.Saudi oil giant Aramco is cutting supply of its heavier crudes to Asia in April, due to field maintenance, despite meeting full volume nominations for next month, multiple sources familiar with the plans told Reuters on Monday. Most buyers in China and India will receive the full contractual volumes they had asked for, although the […]
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GAIL slashes prices of CNG across 20 cities
Posted on March 11, 2024 by Diligentia News in OilGas.GAIL India on Saturday announced slashing of compressed natural gas prices by ₹2.50 a kg in 20 cities, including Bengaluru, Patna, Ranchi and the Taj Trapezium Zone, brightening prospects of petrol and diesel rates cut as state-run energy firms are reducing retail prices of fuels ahead of the 2024 general elections. A “substantial reduction” in […]
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Democrats Seek Probe Into U.S. Oil and Gas Mergers
Posted on March 7, 2024 by Diligentia News in OilGas.Nearly 50 Democratic Senators and Representatives are urging the Federal Trade Commission (FTC) to investigate the recent mergers in America’s oil and gas sector amid concerns that they would harm competition and hurt consumers. In a letter to FTC chair Lina Khan, the Democratic Members of Congress, led by Senate Majority Leader Chuck Schumer, wrote […]
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ONGC Approves Rs 990 million Investment In Newly Created Green Arm
Posted on March 7, 2024 by Diligentia News in OilGas.India’s largest oil and gas producer Oil and Natural Gas Corp., has approved a Rs 990 million equity investment in its newly created wholly-owned subsidiary ONGC Green Ltd. The company’s board has also accorded in-principle investment approval in additional equity of Rs 11 billion in ONGC Green, according to an exchange filing. This additional investment […]
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IGX sees 324% growth in gas trade volumes in February m-o-m
Posted on March 7, 2024 by Diligentia News in OilGas.The Indian Gas Exchange (IGX) traded 6,136,850 MMBtu (~155 MMSCM) gas volume in February, with 324 percent month-on-month (m-o-m) increase and 17 percent year-on-year (y-o-y) increase. In February 2024, IGX traded record 4.74 Million MMBtu (120 MMSCM) of monthly R-LNG volumes, said IGX on Tuesday. A total of 101 trades were executed during the month. […]
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OPEC expects share of Indian oil imports to rise again
Posted on March 7, 2024 by Diligentia News in OilGas.OPEC is set to win a bigger share of India’s oil imports in coming decades due to the proximity of its supplies, the producer group’s head told Reuters, after its dominance was recently eroded by competition from discounted Russian oil. The share of oil from the Organization of the Petroleum Exporting Countries (OPEC) imported by […]
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IOC to make fuel for Formula 1 – first by an Indian firm
Posted on March 7, 2024 by Diligentia News in OilGas.Indian Oil Corporation Ltd (IOC) – the nation’s top oil firm – will in three months start manufacturing fuel used in adrenaline-pumping Formula One or F1, motor racing as it looks to expand its basket of niche fuels. IOC, which already has three branded fuels, including high-selling XtraGreen diesel, on Wednesday unveiled ‘Storm’ petrol that […]
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MGL signed an MOU with BMC for setting up a Compressed Biogas plant in Mumbai
Posted on March 6, 2024 by Diligentia News in OilGas.Mahanagar Gas Limited signed an MOU with Brihanmumbai Municipal Corporation (BMC) for setting up a Compressed Biogas (CBG) plant in Mumbai. The CBG plant will have the capacity to process up to 1000 TPD of source segregated food and vegetable waste and will be set up on a parcel of land to be provided by […]
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