Saudi Armco rekindled interest in India's refinery plans, despite setbacks, as Bharat Petroleum Corp. and Oil and Natural Gas Corp.'s strategic move opens another opportunity.
INTERNATIONAL Feed Atom
The US on Thursday imposed new sanctions on entities and vessels linked to Iran’s oil industry, stepping up pressure on Tehran just days before talks between the two countries in Oman.
President Trump’s trade war has triggered a drop in oil prices, giving Saudi Arabia a narrow chance to reassert control over OPEC+ and discipline non-compliant producers. However, Riyadh faces limits in sustaining a price war due to its economic reliance on high oil prices and growing internal alliance tensions.
Indian Oil Corporation plans to invest ₹61,000 crore in a petrochemical complex in Odisha, following a preliminary agreement with the Odisha government.
India is raising the excise duty on gasoline and diesel effective April 8, the government said on Monday, but noted that the increase in the excise duty would not be felt at the pump.
Saudi Arabia, the world's top oil exporter, on Sunday slashed crude oil prices for Asian buyers in May to their lowest in four months, following a recent shock decision by the OPEC+ oil group to speed up oil output hikes.
India and the United Arab Emirates agreed to develop an energy hub in Sri Lanka, India's foreign ministry said on Saturday, as New Delhi's competition with China grows in the Indian Ocean island nation.
India’s crude imports from the US reached 244,000 barrels per day (bpd) in March, up from 146,000 bpd in February.
The eight OPEC+ countries, which previously announced additional voluntary adjustments in April and November 2023, namely Saudi Arabia, Russia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, and Oman met virtually on April 3, 2025, to review global market conditions and outlook.
US tariffs on India's energy sector are not just geopolitical but also a complex legal issue affecting corporates, causing increased legal discourse across the industry supply chain.
Canada's Trans Mountain oil pipeline has revised its oil flow forecasts for the next three years due to slower usage of the newly expanded pipeline.
India's crude oil imports from the US surged by 67% in March, driven by a surge in Indian refiners replacing Russian volumes and US pressure for increased American energy purchases.
Indian oil refiners have started looking for alternative supplies of crude after President Trump threatened secondary sanctions on Russian energy exports if Moscow refuses to sign a ceasefire deal for the Ukraine.
India raised gas prices by nearly 4% in April to $6.75 per million metric British thermal units, up from $6.50 per mmBtu in the previous month.
World crude oil prices today, March 31, 2025
June Brent crude futures rose 11 cents, or 0.15 percent, to $72.87 a barrel, while U.S. West Texas Intermediate crude rose 8 cents, or 0.12 percent, to $69.44 a barrel.
U.S. President Donald Trump's threat to impose secondary tariffs of 25% to 50% on buyers of Russian crude oil is just crazy and bold enough to perhaps achieve his stated aim of a ceasefire in Ukraine.
A tanker carrying Russian crude for state-run Indian Oil Corp. has been denied entry to a local port due to a lack of proper documentation on its seaworthiness, according to people familiar with the development.
India is considering removing US import taxes on liquefied natural gas to boost energy imports, a key priority in their strategic partnership.
Indian port authorities denied entry to an ageing tanker loaded with Russian crude on Thursday due to inadequate documentation, sources familiar with the matter said, an unusual move that indicates tightened scrutiny of vessels carrying Russian oil.
Reliance Industries, India's largest refining complex operator, will halt Venezuelan oil imports following the US's 25% tariff on crude oil purchases from the South American nation.