Indian refiners are expected to decrease spot crude tenders as Russian oil supplies return to normal levels, easing supply concerns despite US sanctions.
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Canada's carbon pricing system, aimed at reducing pollution, faces shaky future after 14 CEOs and opposition leader call for repeal, putting the Pathways Alliance carbon capture project's viability in doubt.
With just 11 days left for US President Donald Trump's tit-for-tat tariffs to kick in, India on Friday said its negotiations with Washington are underway to build a framework for a bilateral trade pact that would address issues relating to levies and market access.
India's government has established Strategic Petroleum Reserves, approved two more reserves, and promoted clean energy through biofuels, alternative fuels, refinery efficiency improvements, and increased domestic production.
The U.S. on Thursday issued new Iran-related sanctions, targeting entities including for the first time a Chinese "teapot," or independent refinery, and vessels that supplied crude oil to such processing plants.
As part of its “maximum pressure” campaign against Iran, the US has sanctioned four India-based companies, “for their role in brokering the sale and transportation of Iranian petroleum-related products”, a US government statement said.
Russia has surpassed the United Arab Emirates as India's top naphtha supplier in the year to March 2025, as refiners capitalise on discounted cargoes, preliminary ship-tracking data showed, a trend buyers expect to persist for another year.
India's crude oil imports increased by 4.7% in February 2025, while petroleum product imports saw a 17.5% decline, according to the latest PPAC data.
World crude oil price today, March 18, 2024
Brent futures rose 36 cents, or 0.5 percent, to $71.43 a barrel, while U.S. West Texas Intermediate crude rose 32 cents, or 0.5 percent, to $67.90.
China's crude oil throughput in January and February rose 2.1% versus a year earlier, official data showed on Monday, supported by a new refinery and holiday travel, but weak refining margins persisted.
The Ministry of Commerce and Industry has told India Inc. to come up with ideas where imports from China and other nations can be replaced by U.S. goods, according to a report by The Indian Express.
One worker was killed and three other were injured in an explosion at an oil refinery in Russia's city of Ryazan, TASS and RIA news agencies reported.
India’s state-owned oil companies are looking to partner with international energy firms once new legislation aimed at attracting investment and advanced technology in oil and gas exploration is approved.
United States has maintained its sanctions waiver allowing Iraq to continue purchasing natural gas from Iran, an advisor to the Iraqi prime minister said.
Exports of liquefied natural gas from Alaska could begin by 2030, Alaska Governor Mike Dunleavy said on Friday.
India's current renewable energy capacity additions are insufficient to meet its ambitious targets, impacting global energy markets and emissions.
Chinese state oil companies are shying away from Russian oil this month, with two importers halting purchases while two others scaled back volumes as they assess compliance following recent U.S. sanctions on Moscow, multiple trade sources said.
India's crude oil imports from Latin America and Africa rose marginally in February as refiners turned to alternative sources, fearing a loss of Russian oil supplies caused by tighter U.S. sanctions, data from trade sources shows.
The deeply integrated North American oil and gas market stands at crossroads, with Canada's largest oil producer warning that it will diversify its exports away from the United States if President Donald Trump's tariff threats do not end.
India has passed legislation intended to encourage oil and gas exploration to help meet its energy needs, a move that highlights the difficulty of persuading the world’s most populous nation to phase out fossil fuels.