INTERNATIONAL Feed Atom

Reuters says OPEC facing declining demand and shrinking market share in early 2024

2 years ago

1 January 2024

11:08 AM

OPEC is facing weakening demand for its crude in the first half of 2024 just as its global market share declines to the lowest since the COVID-19 pandemic on the back of output cuts and member Angola's exit, according to Reuters calculations and data from forecasters.

India’s Russian crude imports prevented price surge in global oil market

2 years ago

31 December 2023

11:46 AM

In the face of international scrutiny, India has staunchly defended its substantial purchases of Russian crude oil since the onset of the Ukraine war.

Ecuador, Indigenous group reach deal to end oil field blockade

2 years ago

31 December 2023

11:33 AM

Ecuador has reached an agreement with an Indigenous community in the country's Orellana province to end the group's blockade of oil projects in the area, the ministry of energy and mining said on Saturday.

India’s Fuel Exports Surged in November

2 years ago

30 December 2023

11:35 AM

India's fuel exports rose in November from a month earlier as refineries ramped up crude processing while diesel demand for trucking was lower during the Diwali festival season.

Oil prices shed 10% in 2023 as supply, demand concerns weigh

2 years ago

30 December 2023

11:29 AM

Brent crude on Friday, the last trading day of the year, settled at $77.04 a barrel, down 11 cents or 0.14%. U.S. West Texas Intermediate crude settled at $71.65 a barrel, down 12 cents or 0.17%.

UAE backs India’s pioneering Rupee settlement for oil

2 years ago

29 December 2023

11:59 AM

India initiates rupee payments for UAE oil, aiming to globalise its currency and diversify economic strategies in international trade.

Engie Brasil sells 15% stake in gas pipeline firm TAG to Canada’s CDPQ

2 years ago

29 December 2023

11:56 AM

Engie Brasil said on Thursday it had reached a deal to sell a 15% stake in natural gas pipeline firm TAG to Canadian investment fund Caisse de Depot et Placement du Quebec (CDPQ) for 3.1 billion reais ($641 million).

Oil prices set to end year 10% lower as demand concerns snap winning streak

2 years ago

29 December 2023

11:52 AM

Brent crude futures were up 58 cents, or 0.8%, at $77.73 a barrel at 1113 GMT, the last trading day of 2023, while U.S. West Texas Intermediate (WTI) crude futures were up 42 cents, or 0.6%, at $72.19.

India’s gas consumption soars to over 43K MMSCM, outpacing domestic output: PPAC

2 years ago

28 December 2023

2:57 PM

India's natural gas consumption surpassed domestic production from April to November 2023, indicating a growing energy shift and outpacing domestic production.

Oil producers Canadian Natural, MEG urge regulator to back Trans Mountain request

2 years ago

28 December 2023

2:51 PM

Canadian oil producers Canadian Natural Resources and MEG Energy are urging the country's energy regulator to approve Trans Mountain Corp's latest request for a change to building its pipeline expansion, saying timely completion is critical.

Oil prices slide as Red Sea transport disruptions ease

2 years ago

28 December 2023

2:41 PM

Oil prices fell around 1% on Thursday as concerns eased about shipping disruptions along the Red Sea route, even as tensions in the Middle East continue to fester.

Payment woes delay supply of Russian Sokol oil to India

2 years ago

27 December 2023

11:56 AM

Shipments of Russian Sokol crude oil to Indian Oil Corp have been delayed by payment problems, forcing India's biggest refiner to draw from its inventories and buy more oil from the Middle East, two sources familiar with the matter said.

Russia exports almost all its oil to China and India – Novak

2 years ago

27 December 2023

11:50 AM

Almost all of Russia's oil exports this year have been shipped to China and India, Deputy Prime Minister Alexander Novak said on Wednesday, after Moscow responded to Western economic sanctions by quickly rerouting supplies away from Europe.

Oil stabilises as investors watch for Red Sea developments

2 years ago

27 December 2023

11:46 AM

Brent crude futures was down 17 cents, or 0.21%, at $80.90 a barrel by 0940 GMT. U.S. West Texas Intermediate crude eased by 34 cents, or 0.45%, to $75.23 a barrel.

Payment woes delay supply of Russian Sokol oil to India

2 years ago

26 December 2023

12:44 PM

India’s Adani Green to raise $1.12 bln to expand renewable capacity

2 years ago

26 December 2023

12:41 PM

India's Adani Green Energy on Tuesday said its key shareholders will invest 93.50 billion rupees ($1.12 billion) in the company to expand its renewable power capacity.

Oil edges up as investors eye Middle East tensions and US rate cut

2 years ago

26 December 2023

12:38 PM

Brent crude futures rose 18 cents, or 0.2%, to $79.25 a barrel by 1208 GMT while U.S. West Texas Intermediate crude was up 3 cents at $73.59.

Big oil enters 2024 strengthened by U.S. industry consolidation

2 years ago

26 December 2023

12:33 PM

The oil and gas industry went on a $250 billion buying spree in 2023, taking advantage of companies' high stock prices to secure lower-cost reserves and prepare for the next upheaval in an industry likely to undergo more consolidation.

India’s Russian crude imports prevented price surge, ‘havoc’ in global oil market, says petroleum ministry

2 years ago

25 December 2023

11:20 AM

Global crude oil prices would have surged and created “havoc” in the international oil market had India not ramped up oil imports from Russia in the aftermath of Moscow’s February 2022 invasion of Ukraine, the petroleum and natural gas ministry told the department-related parliamentary standing committee.

Canada commits to backing another C$2 billion in loans for Trans Mountain Corp

2 years ago

25 December 2023

11:08 AM

The Canadian government is backing up to C$2 billion ($1.5 billion) in new commercial loans for Trans Mountain Corp (TMC), the crown corporation building an over-budget and long-delayed oil pipeline expansion to the Pacific coast.

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Latest News of Oil, Gas and Petrochemical industry

INTERNATIONAL Feed Atom

Reuters says OPEC facing declining demand and shrinking market share in early 2024

India’s Russian crude imports prevented price surge in global oil market

Ecuador, Indigenous group reach deal to end oil field blockade

India’s Fuel Exports Surged in November

Oil prices shed 10% in 2023 as supply, demand concerns weigh

UAE backs India’s pioneering Rupee settlement for oil

Engie Brasil sells 15% stake in gas pipeline firm TAG to Canada’s CDPQ

Oil prices set to end year 10% lower as demand concerns snap winning streak

India’s gas consumption soars to over 43K MMSCM, outpacing domestic output: PPAC

Oil producers Canadian Natural, MEG urge regulator to back Trans Mountain request

Oil prices slide as Red Sea transport disruptions ease

Payment woes delay supply of Russian Sokol oil to India

Russia exports almost all its oil to China and India – Novak

Oil stabilises as investors watch for Red Sea developments

Payment woes delay supply of Russian Sokol oil to India

India’s Adani Green to raise $1.12 bln to expand renewable capacity

Oil edges up as investors eye Middle East tensions and US rate cut

Big oil enters 2024 strengthened by U.S. industry consolidation

India’s Russian crude imports prevented price surge, ‘havoc’ in global oil market, says petroleum ministry

Canada commits to backing another C$2 billion in loans for Trans Mountain Corp