Saudi Arabia's recent move to slash the price of its oil has attracted attention from India, with some refiners now interested in buying crude from the kingdom while oil purchases from Russia plummet.
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Indian purchases of Russian crude in defiance of Western pressure over the Ukraine war have fallen to an 11-month low as the price tag on the discounted oil rises, figures show.
Oil and gas prices are set to trade at two-year lows through 2024, according to the Deloitte Canada new forecast, giving consumers a potential break on heating and fuel costs.
TotalEnergies has increased its holding in the Venus oil discovery offshore Namibia in a deal with Impact Oil and Gas that marks a significant step towards the prospect's development, the energy major said on Wednesday.
Norway's export of natural gas via pipelines to Europe hit an all-time high in December but still declined by 6.7% overall in 2023 following lengthy maintenance outages, pipeline system operator Gassco said on Wednesday.
Brent crude futures fell 23 cents, or 0.3%, to $77.36 a barrel at 0913 GMT, while U.S. West Texas Intermediate crude futures slipped 15 cents, or 0.2%, to $72.09.
Canada gearing up for its first offshore wind turbines. According to the project’s website, it will be a 300-400 megawatts floating offshore wind project located 20 to 30 kilometres off Goldboro, Nova Scotia.
India’s Oil and Natural Gas Corp (ONGC) has successfully produced the first oil from the deepwater KG-DWN-98/2 Block, located off the coast of the Bay of Bengal.
Oil and fuel tanker traffic in the Red Sea was stable in December, even though many container ships have rerouted due to attacks by Iran-aligned Houthi militants, a Reuters analysis of vessel tracking data showed.
Brent crude futures rose $1.32, or 1.73%, to $77.44 a barrel at 1049 GMT, while U.S. West Texas Intermediate crude futures gained $1.25, or 1.77%, to $72.02 a barrel.
BT Britain's biggest telecoms group, said it would convert the first of its street cabinets traditionally used to house cabling to an electric vehicle (EV) charging unit in a pilot that could lead to a network of 60,000 new points.
India's fuel consumption rose to a seven-month high in December to about 20.054 million metric tons, data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed.
Brent crude slipped 0.93%, or 73 cents, to $78.03 a barrel by 0753 GMT after falling more than 1% earlier in the session, while U.S. West Texas Intermediate crude futures shed 1.04%, or 77 cents, to $73.04 a barrel.
Turkmenistan and the Republic of Azerbaijan are holding a discussion about the resumption of gas swap, said the National Iranian Gas Company (NIGC) on Saturday.
Oil and Natural Gas Corporation (ONGC) emerged as the dominant player in the Open Acreage Licensing Policy (OALP-VIII) bid round, securing seven out of ten blocks.
Finland's gas system operator said on Friday it had invoked its right to order a rapid extra delivery of liquefied natural gas (LNG) to ensure market balance amid a surge in demand driven by a prolonged cold spell that drove up electricity prices.
Brent crude futures settled up $1.17, or 1.51%, at $78.76 a barrel. U.S. West Texas Intermediate crude futures finished up $1.62, or 2.24%, at $73.81.
India approved signing a 5-year memorandum of understanding (MoU) with Guyana to cooperate in the hydrocarbon sector as the South Asian nation looks to diversify its oil import sources.
India plans to halve the amount of equity investment to $1.8 billion for 2023/24 to help fund three state oil refiners' green energy projects, four government and industry sources said, as the federal government seeks to curb its fiscal deficit.
Brent crude futures were up 44 cents, or 0.57%, to $78.03 a barrel, while U.S. West Texas Intermediate crude futures rose 57 cents, or 0.79%, to $72.76 at 1032 GMT.