The United States hit Iran's oil and petrochemicals sectors with new sanctions Friday in response to Tehran's October 1 attack against Israel, designating dozens of new companies and firms.
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Saudi Arabia is actively seeking investment opportunities in a upcoming refinery developed by Bharat Petroleum Corporation Limited as part of its broader investment strategy in India.
Brent crude futures rose 58 cents, or 0.8%, to $77.16 a barrel by 0847 GMT. U.S. West Texas Intermediate (WTI) futures were up 61 cents, or 0.8%, at $73.85.
British energy giant bp is holding a board meeting in India as it seeks to explore new opportunities in the country's oil and gas sector, reported Reuters.
Indian refiners anticipate Venezuelan crude tankers from Vitol, following IOC and MRPL purchasing 2 million barrels for November delivery, as India continues to increase imports from Venezuela despite sanctions.
India will be able to navigate through any hit to oil supplies from the potential widening of the Middle East conflict, oil minister Hardeep Singh Puri said on Monday.
The global price of crude oil today, October 7, 2024
Brent crude futures rose $1.11, or 1.4%, to $79.16 a barrel by 0839 GMT. U.S. West Texas Intermediate crude futures jumped $1.28, or 1.7%, to $75.66.
While Sensex and Nifty made wild swings on the D-Street in Friday's session, shares of Oil India Limited and Oil and Natural Gas Corporation rallied up to 6 per cent.
India's oil imports from Russia rose in September as overall demand for hydrocarbons increased ahead of the Diwali festive season, according to analytics firm Kpler, as reported by the Indian Express.
Indian Oil Corporation and Nepal Oil Corporation have signed a B2B framework agreement for the extension of the Motihari-Amlekhgunj Petroleum Pipeline and oil storage terminals in Chitwan.
The OPEC secretariat announced today that the Wall Street Journal article, dated 2 October which quotes the Saudi Oil Minister as saying oil prices may fall to $50/B is inaccurate and misleading.
The Joint Ministerial Monitoring Committee (JMMC) of OPEC+ held a meeting on 2 October and reviewed the current market situation.
Global crude oil prices today, October 2, 2024
Brent futures leapt $1.08, or 1.47%, to $74.64 a barrel, while U.S. West Texas Intermediate (WTI) crude spiked $1.12, or 1.6%, to $70.95 at 0650 GMT.
Abu Dhabi's ADNOC has struck a deal to buy German chemicals maker Covestro for 14.7 billion euros ($16.3 billion), including debt, in the energy giant's biggest ever acquisition.
Petroleum product exports from India have soared to the highest level in two and a half years as maintenance season in Europe is stoking demand for fuels from other sources.
Global oil prices today September 30, 2024
Brent crude futures gained $1.12, up 1.56% to $73.10 a barrel. U.S. West Texas Intermediate crude futures advanced 93 cents, or 1.36%, to $69.11 a barrel.
Mexico’s Pemex has shipped its first fuel export cargo from the newly constructed Olmeca refinery to India, after facing some delays and escalating costs.
Kuwait's national oil company has declared a state of emergency over an oil leak in one of its southwestern oil fields.
Statistics Canada says real gross domestic product grew 0.2 per cent in July, following essentially no change in June, helped by strength in the retail trade sector.
India will not purchase liquefied natural gas (LNG) from Russia's Arctic LNG 2 project, which has been sanctioned by Western countries, Indian Oil Secretary Pankaj Jain said on Sept. 27, Reuters reported.