Global Crude Oil Price Today September 24, 2024
Brent crude futures were up $1.34, or 1.8%, at $75.24 a barrel by 0853 GMT. U.S. WTI crude futures rose $1.38, or 2%, to $71.75.
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India's largest oil and gas bid round saw four bidders, including ONGC, OIL, Vedanta Ltd, and Reliance-bp plc, with most blocks receiving two bids each.
India’s crude oil production in August fell by 3.4% on the year to 2.4 million metric tons, equal to some 17.6 million barrels. Fuel production was also down, more modestly, the Economic Times reported.
Global Crude Oil Price Today September 23, 2024
Brent crude futures for November edged up by 14 cents, or 0.19%, to $74.63 a barrel by 0815 GMT. U.S. crude futures for November were up 16 cents, or 0.23%, at $71.16.
India's state-owned oil refiners are in talks with Russia to secure long-term supply deals, potentially sealing them by April of the new fiscal year.
RBC CEO Dave McKay emphasizes Canada's crucial role in the US's energy security, particularly in supplying oil and gas to Asia, despite the US's focus on "Buy American."
India aims to be agile in source shifting in the energy transition era, balancing its growing economy and population with decarbonization efforts.
Brent futures , which were down 35 cents, or 0.47%, at $74.53 a barrel at 0804 GMT while U.S. WTI crude futures were down 25 cents, or 0.35%, at $71.70. Still, both were up more than 4% on the week.
India is exploring the possibility of increasing oil imports from Brazil, as revealed in a meeting between India's oil minister and the head of Petrobras, Brazil's state-run oil company.
Rystad Energy's research suggests that converting upstream oil and gas production facilities to renewable electricity could reduce emissions by over 80%, with fully electrified assets emitting an 86% decrease in carbon dioxide per barrel of oil equivalent.
Global Crude Oil Price Today September 19, 2024
Brent crude futures for November were up 81 cents, or 1.1%, to $74.46 a barrel at 0750 GMT, while WTI crude futures for October were also up 1.1%, rising 75 cents to $71.66 a barrel.
Russian firms increased insurance cover for India's oil imports to 60% of all cargoes in July, significantly higher than 40% in December 2023 as the two nations continue cementing their energy ties, Reuters reported on Wednesday.
India is willing to purchase cheap oil from Russian companies, as confirmed by Oil Minister Hardeep Singh Puri, and is open to purchasing from any source at competitive prices.
Global crude oil prices today, September 18, 2024
Brent crude futures for November were down 54 cents, or 0.7%, at $73.16 a barrel at 0810 GMT. U.S. crude futures for October slid 46 cents, or 0.7%, to $70.73.
Union Minister of Petroleum and Natural Gas Hardeep Singh Puri and US Assistant Secretary of State for Energy Resources Geoffery Pyatt discussed strengthening bilateral energy cooperation for a "just and orderly energy transition."
Financial institutions have pledged a total of $386 billion in investment commitments to help India boost its renewable energy industry, Renewables Energy Minister Pralhad Joshi said on Monday.
Global Crude Oil Price Today September 16, 2024
Brent crude futures for November were up 38 cents, or 0.5%, at $71.99 a barrel at 0700 GMT. U.S. crude futures for October were up 49 cents, or 0.7%, at $69.14 a barrel.
Canada and Mexico are drawing tens of billions of dollars of investment to kick-start their liquefied natural gas export industries as a permitting freeze slows the expansion of the sector in the US, the world’s biggest supplier.
State-owned Oil India Ltd (OIL) is in discussion with French energy company TotalEnergies for exploration of hydrocarbon blocks off India’s coast, either as a technical partner or a “participating interest” (equity) partner, a senior company executive told FE.
Oil India reports no payment issues for diesel exports to Bangladesh and smooth equipment transit for refinery expansion. Plans include increasing Numaligarh refining capacity by December 2025.