Philip Mshelbila of Nigeria officially assumed his duties as secretary-general of the Gas Exporting Countries Forum on Jan. 1, succeeding Algeria’s Mohamed Hamel, who completed his four-year term.
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India stands to save approximately $1 billion each year in crude oil imports by converting just 10% of diesel consumption in the transport sector to liquefied natural gas (LNG), according to a study by the Petroleum and Natural Gas Regulatory Board (PNGRB).
Turkey’s Energy Minister Alparslan Bayraktar announced on Wednesday that the country will deploy the Cagri Bey drilling vessel to Somali waters in February, marking Turkey’s inaugural deepwater exploration project abroad.
US crude oil imports dropped to 4.95M bpd last week—lowest in nearly 5 years—due to ad valorem taxes on year-end stocks. Mexico imports hit record low of 71K bpd amid Pemex production struggles. Inventories fell on strong refining.
The US Treasury has sanctioned four companies and four oil tankers linked to Venezuela’s “shadow fleet” as Trump ramps up pressure on Maduro. Exports have already halved due to a blockade—aimed at stopping oil profits funding alleged drug trafficking.
Saudi Aramco is set to take a 20% stake in BPCL’s $11bn greenfield refinery–petrochemical complex at Ramayapatnam port, as India’s state refiner dilutes 30–40% of the project to strategic investors to meet rising fuel and petrochemical demand.
Despite a U.S. blockade and a sharp fall in exports, at least two oil tankers have reached Venezuela in recent days, underscoring PDVSA’s push to build floating storage and keep crude flowing—mainly to China to repay debt.
India is offering 50 new exploration blocks for oil, gas, and coal bed methane under multiple bid rounds, aiming to boost domestic output and cut heavy reliance on energy imports, the oil minister said.
Oil output in Kazakhstan declined by around 6% in December, led by a fall at the vast Chevron-led Tengiz oilfield after a Ukrainian drone attack damaged Russia’s Black Sea exporting terminal, an industry source said on Monday.
India is pursuing more than $30 billion in compensation from Reliance Industries and partner BP in a long-running arbitration dispute, alleging the companies failed to produce vast amounts of natural gas from deepwater fields due to mismanagement, sources familiar with the matter told Reuters exclusively.
U.S. tariffs and diplomatic claims put India’s balancing act between cheap Russian oil and American demands under the spotlight as officials and industry await hard data on import cuts.
India’s average daily natural gas consumption dropped to around 190 million metric standard cubic meters per day (mmscmd) in the first seven months of fiscal year 2026, a 4.6% decline from the previous year, driven by reduced power sector offtake, higher LNG prices, and maintenance shutdowns in refineries and fertilizer plants, according to a Crisil Intelligence report.
India’s operational natural gas pipeline network has grown to 25,429 kilometers, advancing the country’s goal of a fully integrated national gas grid that promotes energy security and delivers cleaner fuel to every region.
Russia has nearly doubled its liquefied petroleum gas (LPG) exports to former Soviet republics in Central Asia and Afghanistan in the first 11 months of the year, reaching 1.016 million metric tons, according to industry sources who spoke to Reuters on Friday.
The White House has directed U.S. forces to prioritize enforcing a quarantine on Venezuelan oil for the next two months. This signals Washington’s preference to pressure Caracas through economic leverage rather than military action.
India's largest oil refiner, Reliance Industries Ltd., has resumed oil purchases from Russia for its plant in Gujarat. This was reported by Bloomberg, citing sources.
Iraq’s supply of gas from Iran has been halted, the electricity ministry said on Tuesday, adding that the stoppage was due to the shutdown of some generating units and load shedding at others.
A growing backlog of at least 20 tankers loaded with Russian crude has formed off the coasts of India and China, turning vast volumes of oil into floating storage as unloading delays mount despite Russia’s exports hitting a more than two-and-a-half-year high.
In 2025, China has supplanted OPEC+ as the key oil price setter by using its import and storage strategy to enforce both a floor and a ceiling on crude prices.
Despite record highs in India’s main indices, several fundamentally strong large-cap stocks are near 52-week lows, creating potential buying opportunities.