Australia’s resources and energy exports continue to outperform, says minister

New trade data shows Australia’s resource and energy sector is continuing to perform remarkably well, building on the strong momentum that underpinned previous forecasts for a record year in exports earnings, Minister for Resources, Water and Northern Australia Keith Pitt said. The positive results from the Australian Bureau of Statistics’ International Trade in Goods and Services data […]

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India’s domestic natural gas output increases by 23%in April 2021

India’s domestic natural gas production increased by 22.7 per cent year on year (y-o-y) to 2,651 million standard cubic metre(mscm) in April 2021, mainly due to higher production from Reliance Industries and BP’s ultra-deep-water field in the KG D6 Block of the Krishna Godavari basin on the east coast. However, the 2.5 million tonne (MT) of crude oil produced in the country during the month […]

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ONGC Videsh and BPCL’s Mozambique LNG project to stop indefinitely on outbreak of violence

The $20 billion liquefied natural gas project in Mozambique, where two state-owned Indian firms – ONGC Videsh Ltd (OVL) and BPCL together hold a 30 per cent stake, has been suspended indefinitely after an escalation of violence in the area, according to a regulatory filing. French energy giant Total SE, which is the project lead, declared force majeure on its LNG […]

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Burgeoning Covid cases leads to diversion of LNG cargoes from India as demand dampens

Liquefied natural gas (LNG) cargoes are being diverted away from ports in India as surging coronavirus cases are hampering domestic gas demand, according to trade and shipping sources.Six LNG tankers diverted away from India since April 20, changing the destination to northeast Asia, Europe and Kuwait instead, reports Reuters.  Further diversions and reduction in shipments to India are expected this week, trade […]

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