India’s natural gas consumption, and consequently imports, had been on a growth trajectory till FY20, with the government’s push to increase the share of the fuel in the country’s primary energy mix to 15 per cent by 2030 from a little over 6 per cent.
INTERNATIONAL Feed Atom
Russia has decided to focus on reducing oil output rather than exports in the second quarter in order to evenly spread production cuts with other OPEC+ member countries, Deputy Prime Minister Alexander Novak said on Friday.
Canadian oil shipments to Los Angeles hit the highest in four years this month ahead of the formal launch of the expanded Trans Mountain pipeline that is expected to boost export volumes further.
Asia's imports of crude oil are expected to rise to the highest in 10 months as heavyweights China and India lifted arrivals from Russia, but impending maintenance schedules and rising prices mean such levels may not be sustained.
Brent crude futures for May were up 91 cents, or 1.1%, at $87 a barrel. U.S. West Texas Intermediate (WTI) crude futures for May delivery were up 89 cents, or 1.1%, to $82.24 a barrel.
Brent crude futures for May dropped 74 cents, or 0.9%, to $85.51 a barrel at 0420 GMT. U.S. West Texas Intermediate (WTI) crude futures for May delivery fell 64 cents, or 0.8%, at $80.98.
Front-month Brent crude futures due to expire on Thursday were up 11 cents to $86.86 a barrel at 1200 GMT, while U.S. West Texas Intermediate (WTI) crude futures edged up 19 cents to $82.14.
More than 250,000 barrels per day of U.S. crude is set to arrive in India next month, the highest in more than a year, ship tracking data showed, amid tighter enforcement of sanctions on Russian crude.
Brent crude futures climbed 39 cents, or 0.5%, to $85.82 a barrel at 0759 GMT. U.S. crude futures gained 40 cents, or 0.5%, to $81.03 per barrel.
A year after the closure of the Iraq-Turkey oil pipeline, the conduit that once handled about 0.5% of global oil supply is still stuck in limbo as legal and financial hurdles impede the resumption of flows.
Indian Oil Corporation Ltd has made a grand entry as the official fuel partner of the prestigious Asia Road Racing Championship (ARRC) - 2024 with its latest superior performance fuel offering, 'STORM-Ultimate Racing Fuel, the state-owned oil giant said on Friday.
Energy executives say they are looking past current ultra-cheap gas prices and betting on a coming wave of new liquefied natural gas (LNG) plants to lift demand - and prices - for the fuel.
The Gas Exporting Countries Forum's (2050) forecast report projects that global natural gas investments will total almost $9 trillion by 2050, with $8.2 trillion directed toward the upstream sector and $0.74 trillion for the midstream sector.
All of India's refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to U.S. sanctions, Bloomberg News reported on Friday.
Brent crude futures fell 53 cents, or 0.6%, to $85.25 a barrel by 0651 GMT. U.S. crude futures shed 52 cents, or 0.6%, to $80.55 per barrel.
Canada's main crude-producing province Alberta introduced a bill to repeal the provincial carbon tax on Wednesday, setting up a legal tussle between Premier Jason Kenney's United Conservative Party and Justin Trudeau's Liberal government in Ottawa.
One of India's largest state-owned refiners, Bharat Petroleum Corporation Limited (BPCL), has signed an agreement with supermajor BP to buy U.S. WTI crude for four months beginning in June, trade sources told Reuters on Wednesday.
Brent crude futures for May were down 3 cents to $85.92 a barrel. U.S. West Texas Intermediate futures for May were down 10 cents, or 0.1%, to $81.17 a barrel.
India is set to import in April its highest oil volumes from the United States in 11 months as the stricter enforcement of the U.S. sanctions against Russia are slowing Russian crude flows to the world's third-largest crude importer.
Brent crude futures for May fell 28 cents, or 0.3%, to $87.10 a barrel by 0711 GMT. U.S. West Texas Intermediate futures for April delivery ,fell 47 cents, or 0.6%, to $83.00 a barrel.
