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.
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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.
The loss of Ukrainian oil refineries this summer has forced traders to compensate with imports, purchasing diesel fuel even from India, which imports a significant portion of its crude oil from Russia, an analyst said at the weekend.
Congress leader Shashi Tharoor on Sunday hit out at US commerce secretary Howard Lutnick over his recent remarks on India-US trade deal saying, "India doesn't have to say sorry about anything".
Iraq's state oil company SOMO is in advanced talks with ExxonMobil over a possible agreement to secure storage capacity in Singapore using tanks owned by the US oil major, the Iraqi state news agency INA said on Saturday.
India will continue buying crude from Russia as it looks to cater to its interests, Indian Finance Minister Nirmala Sitharaman said on Friday, amid U.S. pressure over India's Russian crude purchases.
Top Indian refiner Indian Oil Corp skipped the purchase of U.S. oil in its latest tender and instead bought 2 million barrels of West African and a million barrels of Middle Eastern grade, trade sources said on Friday.
Zimbabwe’s Ministry of Finance has granted National Project Status (NPS) to the Cabora Bassa Gas Project, recognizing its strategic role in boosting economic growth and energy security. The designation, along with a finalized Petroleum Production Sharing Agreement between the government and developer Invictus Energy, paves the way for accelerated development through tax incentives, streamlined permitting, and priority access to infrastructure.
China and Russia are negotiating a deal for a massive natural gas pipeline, bolstering energy ties amid India's continued purchase of Russian crude oil amidst Trump's tariffs.