The Trump administration is considering stopping and inspecting Iranian oil tankers at sea under an international agreement to prevent the spread of weapons of mass destruction.
INTERNATIONAL Feed Atom
India received more than half the UAE’s LNG exports in the first nine months of 2024 while the rest were supplied to other Asian markets, an official report shows.
U.S. exports of crude oil to India last month climbed to their highest in over two years, ship tracking data showed, as refiners in the country sought alternative supplies following tighter U.S. sanctions on Russian producers and tankers.
World crude oil price today March 5, 2025
Brent futures fell $1.47, or 2.1%, to $69.57 a barrel by 1408 GMT. U.S. West Texas Intermediate (WTI) crude declined $1.77, or 2.6%, to $66.49 a barrel.
India's electricity demand is predicted to increase by 6.3% annually over the next three years, accounting for 10% of global electricity demand by 2027, according to the International Energy Agency.
Turkey wants an Iraq-Turkey oil pipeline to operate at maximum capacity once it resumes flows through Turkey's Ceyhan, Turkish Energy Minister Alparslan Bayraktar was quoted as saying by the state-owned Anadolu news agency on Sunday.
India’s state-run refiners will fully commission the world’s longest liquefied petroleum gas pipeline by June, a key development that will sharply cut fuel transportation costs and help prevent deadly road accidents.
India’s imports of crude oil from Russia slumped this month to the lowest level since January 2023, according to data analytics company Kpler, underlining how stringent US sanctions have disrupted supply chains.
JM Financial reports that Indian gas companies are concerned about the persistently high prices of spot LNG, which could impact domestic demand and city gas distribution firms.
World Brent crude oil price today February 27, 2025
Brent crude oil futures was up 2 cent at $72.55 a barrel by 0731 GMT. U.S. West Texas Intermediate crude oil futures were up 6 cents at $68.68 per barrel.
In a business world that strives for the win-win, U.S. President Donald Trump may achieve the rare lose-lose for consumers and producers with proposed tariffs on Canadian energy — but a windfall for U.S. government revenues.
The US sanctioned over 30 individuals and vessels, including four Indian firms, for their role in the sale and shipping of Iranian oil. The sanctions come amid ongoing efforts to curb Iran's oil exports, which primarily go to China using a network of shadowy intermediaries and vessels.
The United States imposed a fresh round of sanctions targeting Iran's oil industry on Monday, hitting more than 30 brokers, tanker operators, and shipping companies for their role in selling and transporting Iranian petroleum, the Treasury Department said.
Iraq's oil ministry said in a statement on Saturday that all procedures had been completed to allow the resumption of exports through the Iraq-Turkey pipeline.
Sanctions have slashed Russian oil exports to India by about a quarter in February while the US oil exports have nearly doubled amid the country's plan to increase the purchase of American energy by two-thirds to $25 billion.
Oil India Limited has signed a Memorandum of Understanding with Mineral Exploration and Consultancy Limited to collaborate on the exploration and development of critical mineral blocks in India and overseas.
The United States jumped to the fifth-largest supplier to India, with imports tripling from December to January, and India plans to further increase US oil and gas imports.
India's Oil and Natural Gas Corp is seeking joint venture partners to build very large ethane carriers (VLECs) to ship feedstock for its petrochemical plant in western India, according to a document posted on the company's website.
India's oil imports from the United States rose sharply in January from December, turning Washington as the fifth largest oil supplier to New Delhi, data obtained from trade sources show.
World crude oil price today, February 18, 2025
Brent crude futures gained 23 cents, or 0.3%, to $75.45 per barrel at 0758 GMT.U.S. West Texas Intermediate crude futures were up 75 cents from Friday's close at $71.49 a barrel.