Trump announced an agreement with Indian Prime Minister Modi, involving India importing more US oil and gas to reduce trade deficit between the two nations.
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Petrobras, Brazil's state-owned energy company, has signed two MOUs and one framework agreement with India's state energy firms for cooperation in the oil and gas sector.
ADNOC Gas has signed a 14-year agreement to supply 1.2 million tonnes of LNG to Indian Oil Corporation Ltd, extending energy cooperation between the UAE and India.
World crude oil prices today, February 12, 2025
Brent futures fell 25 cents, or 0.3%, to $76.75 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 28 cents, or 0.4%, to $73.04 a barrel.
Oil India Ltd has signed an agreement with Petrobras to jointly bid for oil and gas exploration blocks in India, its chairman Ranjit Rath told Reuters on Tuesday.
Turkmenistan has signed a swap arrangement with Turkish energy company Bota to transit its natural gas through Iran, according to Halk Maslahaty Chairman Gurbanguly Berdimuhamedov.
India plans to launch new oil and gas licensing rounds this week, according to Oil Minister Hardeep Puri, as the country aims to increase its domestic hydrocarbon supply.
Indian oil firms are discussing long-term LNG purchases with US suppliers ahead of Modi's meeting with Trump, seeking favorable terms amid India's efforts to reduce reliance on dirtier fuels.
President Trump declared a national energy emergency as soon as he took office. The declaration had the goal of facilitating growth in energy supply or, as Trump likes to call it "Drill, baby, drill." Yet this time, Baby doesn't feel much like drilling. And it's saying this loud and clear.
Turkmen President Serdar Berdimuhamedov has instructed his government to accelerate the construction of the Turkmenistan-Afghanistan-Pakistan-India (TAPI) gas pipeline and intensify the development of the Galkynysh gas field, local media reported.
President Donald Trump said that the United States and Japan are discussing a pipeline project in Alaska after meeting with the country’s prime minister, Shigeru Ishiba.
India's fuel demand increased by 3.2% in January, despite lower consumption compared to December 2024 due to holiday travel and the end of the monsoon season.
The U.S. Treasury said on Thursday it is imposing new sanctions on a few individuals and tankers helping to ship millions of barrels of Iranian crude oil per year to China, in an incremental move to boost pressure on Tehran.
Oman reported a 308,422,100 barrels of oil exports by the end of December 2024, a slight drop from 310,331,200 barrels recorded in the same period last year, according to Oman news agency.
India — the world’s most populous nation — is expected to account for one quarter of global oil demand growth in 2025, which gives New Delhi “an immense sway” in international energy markets, writes Gaurav Sharma in consultant Wood Mackenzie’s Energy Connects.
World crude oil prices today February 5, 2025
Brent crude futures were down 39 cents, or 0.51%, at $75.81 a barrel by 0427 GMT. U.S. West Texas Intermediate crude (WTI) lost 26 cents, or 0.36%, to $72.44.
Shortly after tariffs on China imposed by U.S. President Donald Trump took effect on Tuesday, China's Finance Ministry said it would impose levies of 15% on imports of U.S. coal and LNG and 10% for crude oil as well as on farm equipment and some autos.
The 58th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference on Monday, 03 February 2025.
India increased its imports of Russian crude oil by 13% in January, 9% from December, and 9% from a year earlier, thanks to Indian refiners taking advantage of the 49-day grace period.
Lukoil, Russia's second-largest oil producer, plans to raise around $2 billion from the sale of its Burgas oil refinery in Bulgaria, according to Bulgaria's Prime Minister Rosen Zhelyazkov.