Worldwide sales of oil discharge monitoring equipment are set to account for US$ 212.2 Mn in 2022. Expanding at a steady CAGR of 4.8%, the global oil discharge monitoring equipment market is expected to reach US$ 340 Mn by the end of 2032. The Oil Discharge Monitoring Equipment (ODME) market plays a pivotal role in the maritime
Worldwide revenue generated from biofuels sales amounted to US$ 140.43 Billion. Projections indicate that the Biofuels market is poised for growth at a Compound Annual Growth Rate (CAGR) of 4.8% from 2022 to 2032. The bioethanol segment is anticipated to emerge as the leading revenue generator, contributing significantly to the market. Over the next decade,
According to India’s Minister of Petroleum and Natural Gas, Russian crude is keeping global oil prices down.During India Energy Week, Hardeep Singh Puri told CNBC that if India started buying more Middle Eastern oil instead of Russian oil, oil prices would not be $75 or $76; they would be $150. Indian oil companies will buy
It is expected that ONGC Oil and Natural Gas Corp. will begin producing oil from its much-delayed deep-sea water project in the Krishna Godavari basin in the Bay of Bengal this month, reversing years of decline in output. ONGC Director (Production) Pankaj Kumar said this month that Cluster-2 will start producing in KG-DWN-98/2 block this
In bear market of 2022, oil stocks took the limelight with their success stories. Even though higher inflation adversely impacted consumer spending and business sentiment, it positively impacted prices of crude oil. Therefore, investors were able to book some gains from top crude oil companies. Apart from this, Russia’s invasion of Ukraine stemmed the performance
On Tuesday 25th July 2023, crude oil prices were able to stabilize near three-month highs. Much of this stabilization was because traders were waiting for the US Federal Reserve meeting after there have been signs regarding the tighter supplies and assurance by Chinese authorities to shore up their economy. Crude benchmarks have seen 4 consecutive
Arun Kumar Singh, chairman of India’s top oil and gas producer ONGC, said on Monday that the company plans to invest 1 lakh crore in energy transition projects by 2030 as part of its goal of reducing carbon emissions to zero by 2038. As part of the nation’s commitment to fight climate change, Indian Oil
Oil and Natural Gas Corporation (ONGC) has canceled bids received for its Daman upside gas development project off the western coast after receiving high price quotes, sources said. The project is crucial to ONGC’s strategy of ramping up gas production from its shallow-water fields off India’s west coast. With the completion of the project, 4.5
Despite not involving China, the Chinese yuan is gaining traction in cross-border payments. Pakistan has become the latest country to indicate that it will use the Chinese currency Yuan paying for Russian oil across borders. Pakistan is considering a new payment method for its first Russian crude oil order for 750,000 barrels that will arrive
The Adani Group has taken action to suspend work on a Rs 34,900 crore petrochemical project at Mundra in Gujarat. Sources reported that this move is to focus resources to consolidate operations and address investor concerns stemming from a damning report by a US-based short seller. Earlier this year, the group’s main company Adani Enterprises
