KazMunayGas and Uzbekneftegaz signed a framework agreement on the implementation of a linear alkylbenzene production project, Kazinform News Agency reports citing the KMG press service.
INTERNATIONAL Feed Atom
The Trump administration has allowed potential buyers to negotiate with Russia’s Lukoil over its foreign assets and approved business dealings with its Burgas refinery following Bulgaria’s move to seize the facility.
Saudi Aramco will sign LNG supply deals with Woodside Energy and Commonwealth LNG during Crown Prince Mohammed bin Salman’s upcoming visit to Washington.
The global oil market faces an even bigger surplus next year of as much as 4.09 million barrels per day as OPEC+ producers and rivals lift output and demand growth slows, the International Energy Agency said on Thursday.
The International Energy Agency (IEA) says India will become the new epicenter of global oil demand growth, with its energy consumption projected to rise by an average of 3% annually through 2035.
India’s ONGC forecasts a significant production boost in FY2026-27, targeting 21 MMT of crude oil (up from 19.8 MMT) and 21.5 BCM of natural gas (up from 20 BCM).
Two Indian refiners bought a total of 5 million barrels of crude oil from the United States, Iraq, and the UAE on the spot market as they seek alternatives to Russian crude.
Two Indian state refiners have purchased 5 million barrels of crude oil from spot markets via tenders as they continue to scout for alternatives to Russian supplies, trade sources said.
Minister of Petroleum and Natural Gas Hardeep Singh Puri on Saturday said that India with its 23 world-class refineries and a total capacity of 258.2 MMTPA now stands among the top five refining nations in the world.
Russian Urals crude hits its deepest discount to Brent in a year at $4 per barrel after major Indian and Chinese refiners halted December purchases from sanctioned Rosneft and Lukoil ahead of the November 21 US deadline, threatening Moscow’s oil revenues.
Reza Sepahvand, a member of Iran’s parliamentary energy commission, confirmed that New Delhi has formally requested to purchase oil from Tehran, aware of the looming activation of the UN “snapback” sanctions mechanism. While the exact volume has not been disclosed, he estimated potential imports at around 10 million barrels annually.
Union Petroleum Minister Hardeep Singh Puri announced the advancement of oil and gas exploration across seven sedimentary basins in India through “Mission Anveshan,” a significant seismic mapping initiative launched in October 2024.
Bharat Petroleum, one of the largest refiners in India, has bought a cargo of Emirati Upper Zakum crude, as it seeks alternatives to Russian oil, Reuters has reported, citing unnamed sources.
India's Bharat Petroleum Corp has bought crude oil from Abu Dhabi in a spot tender to replace oil from Russia after the U.S. sanctioned two major Russian producers, two trade sources said on Monday.
OPEC+ is set to agree on Sunday on another modest increase in oil output targets, three sources familiar with the talks said, as the producers' group moderates plans to regain market share due to rising supply glut fears.
Russia's exports of liquefied natural gas in January-October fell by 3.4% from a year earlier to 25.2 million metric tons (mmt), while jumping 21% to record levels in October amid the launch of supplies from Arctic LNG 2, LSEG data showed on Saturday.
Indian refiners, responsible for half of Russian crude imports, have halted purchases due to US sanctions on major Russian producers and secondary sanctions risks for smaller entities.
State-run refiner Indian Oil has invited initial bids for 24 million barrels of oil from the Americas for the January to March quarter in 2026, according to a document reviewed by Reuters on Thursday.
India's Hindustan Petroleum issued two rare tenders to import transport fuels for early November delivery, two sources familiar with the matter said on Tuesday, after the company shut one of its processing units due to feedstock contamination.
Indian Oil Corp, the country's top refiner, will not completely discontinue buying Russian crude, a top company executive said on Tuesday.