Indian officials have again told the Trump administration that a significant reduction in Russian oil imports by the South Asian nation’s refiners would require Washington to instead allow crude purchases from sanctioned suppliers Iran and Venezuela.
INTERNATIONAL Feed Atom
Commerce and industry minister Piyush Goyal has indicated that India could buy more oil from the US amid repeated calls from American President Donald Trump for India and China to lower purchase of Russian crude.
India is a very close partner of the US, but President Donald Trump has imposed additional tariffs on New Delhi for its purchases of Russian oil as part of actions taken against President Vladimir Putin for the Ukraine war, Secretary of State Marco Rubio has said.
India's federal government is in discussions with state governments to have them buy more renewable sources for power generation, Indian federal Minister of New and Renewable Energy, Pralhad Joshi, said on Monday.
Iraq has increased oil exports following the gradual unwinding of voluntary production cuts under an OPEC+ agreement, the country's state oil marketer SOMO said on Sunday.
ONGC plans to begin drilling stratigraphic wells in India's offshore basins next year, as part of India's efforts to boost oil and gas exploration for energy security and reduced imports.
The European Union plans to ban Russian LNG imports into the bloc a year earlier than envisaged as part of a 19th package of sanctions against Moscow, EU officials said on Friday, a change that follows pressure from U.S. President Donald Trump.
India's state-run Oil India Ltd expects a $20-billion, TotalEnergies-operated Mozambique liquefied natural gas project in which it owns a stake to restart development by the end of this year, its chairman Ranjit Rath said on Thursday.
Iraq's attempt to ease its chronic power shortage with gas from Turkmenistan routed through neighbouring Iran has failed under U.S. pressure, leaving Baghdad scrambling for alternatives to keep the lights on.
Haldia Petrochemicals, one of India's biggest petrochemicals companies, looks to raise trading volumes by 30% and hire more traders as it expands in the key Asian petrochemicals market, sources with knowledge of the plans told Reuters on Wednesday.
TotalEnergies has signed four production sharing contracts (PSC) with the Liberia Petroleum Regulatory Agency for the LB-6, LB-11, LB-17 and LB-29 offshore exploration blocks, which were awarded under the 2024 Direct Negotiation Licensing Round.
Natural gas is projected to be the only fossil fuel to expand its share in the energy mix of the United States, China, and India by 2050, according to S&P Global Commodity Insights, which highlights gas as a critical bridge fuel in the global shift from coal to renewables.
The United States has announced new Iran-related sanctions, targeting what it has described as a network of “shadow banking” that has facilitated financial transactions resulting from Iran’s oil sales and other activities.
Ukraine is restricting imports of diesel from India due to India's continued purchases of Russian crude, which holds about a third of total Indian oil imports.
Addressing a rally in Assam’s Numaligarh after inaugurating and laying foundation stones for projects worth over Rs 12,000 crore, Modi said that with India emerging as one of the fastest-growing economies in the world, the country is dependent on foreign nations for crude oil and gas.
US President Trump imposed a 50% tariff on India for Russian oil, causing a rift between the two countries, justifying the move to curb Russia's finances.
Under Donald Trump's administration, the US is advocating for coordinated action among G7 countries to impose steep tariffs on Chinese and Indian imports.
India continues to buy cheap Russian crude oil, despite being punished for it by the United States.Last year, India’s imports of Russian crude surpassed 1.7 million barrels per day.India is betting big on clean energy, but coal remains key in its energy mix.
US President Donald Trump wants to work with EU countries to push Russia to end its war in Ukraine by imposing big new trade tariffs on India and China and impose further sanctions on the shadow fleet, reports say.
The spot supply of Russian oil has not changed from earlier, with barrels trading at a discount of $2-$3 per barrel to Dubai for delivery at Indian ports, said Anuj Jain, head of finance at Indian Oil Corp, the country's top refiner.
