Oil Daily | California's Vote on Emission Rules Sparks Price Concerns; ONGC Faces Gas Field Challenges

【Latest Oil Policies】

California is set to vote on tightening emission rules under the Low Carbon Fuel Standard, potentially raising gas prices further. The proposal aims to boost carbon intensity cuts, sparking public backlash and calls for delay due to affordability concerns. The revision targets 30% cuts by 2030 and 90% by 2045.

【Company News】

India's Oil and Natural Gas Corporation (ONGC) has struggled to attract partners for the Deen Dayal gas field in the Bay of Bengal. After acquiring it in 2017, the reserve estimates dropped drastically, and technical challenges have plagued production, hindering ONGC's efforts to boost its gas output.

【Others】

India aims to increase natural gas's share in its energy mix from 6% to 15% by 2030, driven by industrial expansion and energy transition commitments. Gas consumption is expected to rise to 500 million cubic meters daily by 2030, in response to surging demand and government targets.