Alberta, Canada's primary oil-producing province, is considering investing in Japan's refining sector to decrease its dependence on the US for oil exports.
INTERNATIONAL Feed Atom
Refiners in India, among the largest buyers of Russian crude, are planning to trim their purchases in the coming weeks, a modest concession to Washington’s hawks less than a day ahead of a hike in US tariffs, but also a signal that the country has no plans to sever ties with Moscow.
South African petrochemical firm Sasol said on Monday it swung to an annual profit on the back of higher chemicals prices, tighter cost controls and lower asset writedowns.
External Affairs Minister S Jaishankar on Saturday defended India’s energy ties with Russia, saying that New Delhi’s oil purchases were both in national and global interest.
External Affairs Minister S Jaishankar on Saturday defended India’s energy ties with Russia, saying that New Delhi’s oil purchases were both in national and global interest.
India has increased crude oil purchases from Russia since 2022, causing tensions with the US, leading to a 25% penalty tariff on India over the existing 25% reciprocal tariff.
Ukraine attacked the Druzhba pipeline for the third time, halting oil deliveries to Slovakia and Hungary. The European Commission has not reacted so far, but US President Donald Trump said he was very angry.
Russian Foreign Minister Sergei Lavrov announced Russia and India are exploring joint energy ventures, including oil and gas projects in the Far East and Arctic, amid US tariff increases.
Russia has a “very special mechanism” to maintain crude oil supplies to India despite punishing US tariffs, a senior Russian diplomat posted in New Delhi said Wednesday.
India's state-run refiners Indian Oil and Bharat Petroleum have bought Russian oil for September and October delivery, resuming purchases after discounts widened, two company officials aware of the matter said on Wednesday.
State-owned Indian Oil Corporation Ltd has signed a Memorandum of Understanding (MoU) with Air India for the supply of Sustainable Aviation Fuel (SAF) for remarkable green future of aviation fuel strategy.
India should halt purchases of Russian crude oil as the trade undermines efforts to isolate Moscow, the White House trade adviser Peter Navarro wrote in an op-ed published in the Financial Times on Monday.
Indian Oil Corporation, the country’s largest refiner, will begin producing sustainable aviation fuel (SAF) in December, said chairman A. S. Sahney.
US President Trump imposed a 50% tariff on Indian exports, ignoring India's increased oil and gas purchases from the US, reducing its trade surplus with the US.
India is launching a national deepwater exploration mission to tap more of its energy resources, boost domestic energy supply, and reduce dependence on imports, Prime Minister Narendra Modi said on Friday.
India's state-run Bharat Petroleum Corp has awarded a five-month tender for 10 million barrels of U.S. oil to European trader Glencore, two people with knowledge of the matter said, aiding India's efforts to deepen energy ties with Washington.
India could face an annual $5 billion surge in its oil import bill if forced to replace Russian crude, as pressure mounts following a new US tariff order targeting one of Moscow's top energy customers.
Chinese Ambassador Jiang Zaidong suggests Pakistan can expand the China-Pakistan Economic Corridor to Afghanistan and Iran, boosting connectivity and trade, and accelerating the strategic shift from geopolitics to geo-economics.
Trump’s plan to impose a 25% tariff on Indian imports over its Russian crude purchases puts India in a dilemma between preserving $87B in U.S. exports or saving billions through discounted oil.
Azerbaijan's president on Sunday condemned Russian air strikes on Azerbaijani oil and gas facilities in Ukraine but said energy cooperation between the two countries would continue.
Subhash Goyal, Chairman of the Chamber of Commerce's Tourism Expert Committee, criticizes India's disproportionate focus on Russian oil purchases, arguing that India will buy oil from any source.