India will buy Venezuelan oil as some refiners in the country have the capability to process heavy crude oil, Oil Minister Hardeep Singh Puri said on Friday.
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Two U.S. Treasury Department officials will head to Europe next week to discuss enforcing the price cap on Russian oil with government officials and private business leaders, the agency said on Friday.
A unit of Tokyo Gas has decided to buy Texas-based natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for $2.7 billion to expand its overseas business, it said on Saturday.
Brent futures settled down 6 cents, or 0.08%, at$76.55 a barrel. U.S. West Texas Intermediate (WTI) crude finished down 15 cents, or 0.21%, at $71.43.
Canada's upstream oil and gas industry and drilling services sector has a "very favourable" outlook for 2024, according to Enserva's State of the Industry report released on Thursday.
India's merchandise trade deficit narrowed sharply to $20.58 billion in November from the previous month's record levels as imports of gold, petroleum and electronic goods moderated, government data showed on Friday.
Brent futures rose 21 cents to $76.82 a barrel at 0918 GMT. U.S. West Texas Intermediate (WTI) crude also climbed 21 cents, to $71.79.
The National Iranian Oil Company (NIOC) managing director said the country’s oil production has jumped 60 percent since the 13th administration took office in August 2021.
Canada's reaction to the global agreement to transition from fossil fuels is mixed, with environmentalists concerned about potential climate change loopholes and some industry players embracing carbon capture technologies.
India's Russian oil imports in November rose to a 4-month high of 1.6 million barrels per day (bpd), up 3.1% from October, making up about 36% of the nation's overall imports last month, data obtained from trade sources showed.
Brent futures was up $1, or 1.3%, to $75.26 a barrel as of 0900 GMT. U.S. West Texas Intermediate (WTI) crude climbed 80 cents, or 1.1%, to $70.27.
Canada, a major oil producer, is at the crossroads of its commitment to climate action and its role as a major oil producer at COP28, with the draft agreement softening the language on phasing out fossil fuels.
India's state run refiner Bharat Petroleum Corp is looking at buying Venezuela oil, its head of refineries Sanjay Khanna said on Wednesday.
Brent crude futures for February fell 33 cents, or 0.45%, to $72.91 a barrel by 0621 GMT. U.S. West Texas Intermediate crude futures for January dropped 29 cents, or 0.42%, to $68.32 a barrel.
Kuwait reaffirmed its rejection for the inclusion of any call for phasing out fossil fuels consumption and production in the COP28 draft final climate deal, Oil Minister Saad Al Barrak said in statements to Kuwait News Agency (KUNA) on Monday.
Several energy stakeholders have voiced their disagreement with Canada’s proposed greenhouse gas emissions cap, with some calling it effectively a limit on oil and gas production for the nation.
Sellers of sanctioned oil from Russia and Iran are hiking offer prices to China after Venezuelan crude rallied following the suspension of U.S. sanctions on the South American producer, trade sources said.
The average price of Russian oil delivered to top buyer India in October rose to $84.20 per barrel, way above the $60 price cap set by the Group of Seven nations in December last year, preliminary Indian government data showed.
Brent crude futures for February fell 32 cents, or 0.4%, to $75.71 per barrel by 1105 GMT, while U.S. West Texas Intermediate crude futures for January delivery slipped 19 cents, or 0.3%, to $71.13.
India, the world’s third-largest crude oil importer, expects to raise its refining capacity by around 1.12 million barrels per day (bpd) each year until 2028, according to India’s junior oil minister Rameswar Teli.