Indian conglomerate Reliance Industries will not purchase Russian oil loaded on tankers operated by SCF following recent US sanctions, reported Reuters, citing sources.
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Canada, the world's fourth-largest oil producer, can be a key global supplier for years to come providing it sticks to promises to sharply cut emissions, the International Energy Agency (IEA) said on Thursday.
India has ordered companies to operate underutilized gas-based power plants in May and June and import coal-based plants until October 15 to meet high electricity demand.
The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.
Brent crude futures climbed 79 cents, or 0.9%, to $90.53 a barrel by 0900 GMT, while U.S. West Texas Intermediate crude futures rose 92 cents, or 1.1%, to $85.94.
Biden's administration seeks an appeals court to consider international implications of Enbridge's Line 5 shutdown, arguing a federal judge did not fully consider treaty obligations.
India now consumes more than double the petrol it used a decade ago as new and larger vehicles are selling at a scorching pace. Diesel consumption is up by about a third while the overall oil demand is up by half.
Brent crude futures were down 49 cents or 0.5% to $89.99 a barrel at 1030 GMT, while U.S. West Texas Intermediate crude futures lost 55 cents or 0.6% to $85.66 a barrel.
Canada's Newfoundland and Labrador province approved renewable energy firm World Energy's hydrogen plant on Tuesday, after more than 80 low-carbon hydrogen production projects have been announced in the country until March.
China and India remained the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in February, with both countries continuing to buy the fuels to partially replace crude oil, traders said and LSEG data showed.
Brent crude futures were up 30 cents, or 0.3%, at $89.72 per barrel at 1010 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.3%, to $85.52.
Syncrude Canada, majority-owned by Suncor Energy, will pay C$390,000 ($287,187.04) after pleading guilty to a health and safety charge related to a worker's death in June 2021.
Brent crude futures rose 28 cents, or 0.31%, to $90.66 a barrel by 1002 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 24 cents or 0.28% at $86.67.
Brent crude futures were down 16 cents, or 0.2%, at $91.01 a barrel by 1335 GMT. U.S. West Texas Intermediate crude was down 9 cents, or about 0.1%, at $86.82. Both benchmarks lost more than $2 earlier in the session.
India is concerned about rising crude prices, but oil marketing companies will take measures to mitigate the impact on retail consumers if the trend persists.
Iraqi Oil Minister Hayan Abdul-Ghani plans to increase daily production capacity to five million barrels despite market restrictions and OPEC quota limitations for price stability.
Russia's Orsk oil refinery suspended work on Sunday, after the city's dam burst on Friday night amid flooding in the surrounding Orenburg region, Russian news agency cited the plant's press service as saying.
Saudi Arabia has raised the official selling price (OSP) for its flagship Arab Light crude oil for customers in Asia and the Mediterranean in May, an Aramco statement showed on Friday.
The Indian Oil Corporation (IOC) has issued a tender for a 10-KTA Green Hydrogen Generation Unit (GHGU) at its Panipat Refinery Petrochemical Complex on a build-own-operate (BOO) basis.The initial delivery of hydrogen gas is anticipated within 30 months from the date of award.