The Indian government increased windfall tax on petroleum crude, while reduced it on aviation turbine fuel and diesel, according to a government notification on Friday.
INTERNATIONAL Feed Atom
The Biden administration's plan to slash offshore oil and gas leasing drew fire from both the fossil fuel industry and environmentalists on Friday, with energy companies saying it will raise fuel prices and greens saying it undermines efforts to stop global warming.
Saturn Oil & Gas Inc. is taking a unique strategy to growing a Canadian energy company, focused on generating positive shareholder returns through the responsible development of light oil weighted assets in Western Canada.
The Biden administration on Friday unveiled a plan to phase down oil and gas auctions in federal waters with the release of a long-awaited leasing schedule that includes a maximum of three sales in the Gulf of Mexico through 2029.
Pipestone Energy's shareholders on Wednesday voted in favor of the proposed sale to privately-held larger rival Strathcona Resources in an all-stock deal that would value the combined company at C$8.6 billion ($6.36 billion).
Russia is selling oil to India at nearly $80 per barrel, some $20 above the Western price cap, traders said and Reuters calculations showed, as tight global oil markets help Moscow generate strong appetite for its exports.
If the deal materialises, Aramco will supply crude oil and other feedstocks to Shenghong Petrochemical.
Turkey's state gas grid operator BOTAS signed a deal to supply up to 1.5 billion cubic metres (bcm) of natural gas to Romania's OMV Petrom as Ankara expands its gas export reach.
Turkish President Recep Tayyip Erdogan has welcomed Iran’s proposal regarding the so-called Zangezur corridor connecting Azerbaijan to Armenia, saying the corridor can pass through Iran in the event Armenia does not allow it to pass through its territory.
Iranian Oil Minister Javad Oji has emphasized the important role of the oil industry in strengthening the ties between the Islamic Republic and Saudi Arabia, Shana reported.
Britain said on Tuesday it would work closely with Germany to underpin the international trade in hydrogen under a new partnership, which the government hopes will support its net zero target and bolster energy security.
The UK government's development finance institution British International Investment (BII) plans to invest about $1 billion in Indian climate-related projects by 2026, a top official said, drawn to the country's expanding renewable energy capacity.
President Recep Tayyip Erdoğan and his Azerbaijani counterpart Ilham Aliyev attended the groundbreaking ceremony Monday for a new natural gas pipeline that will run from Türkiye’s eastern province of Iğdir to Sederek in Azerbaijan.
Global demand for Canadian crude is bolstered by production and export cuts from Saudi Arabia and Russia.
"The announcement of Global Biofuel Alliance (GBA) by the Prime Minister Shri Narendra Modi during the G20 summit is a historic development in global efforts to achieve clean energy goals," said Director General of BIS Shri Pramod Kumar Tiwari.
Hydropower-rich Tajikistan plans to produce 1 million metric tons of green hydrogen by 2040 for usage at home and exports to neighbouring central Asian countries, its Minister of Energy and Water Resources Daler Juma told on Monday.
The heads of Russian energy giants Gazprom and Rosneft, Alexei Miller and Igor Sechin, will join President Vladimir Putin's retinue during his visit to China next month, sources familiar with the plans told Reuters.
Bank of France head Francois Villeroy de Galhau, a governing council member of the European Central Bank (ECB), said on Saturday that the spike in oil and fuel prices did not change the ECB's objective to bring inflation back towards 2% by 2025.
The last major piece of infrastructure needed to start production at Mexico's first floating liquefied natural gas (LNG) plant is set to depart from a Texas shipyard next week, the U.S. Coast Guard said in a notice to shippers.
Bank of France head Francois Villeroy de Galhau, a governing council member of the European Central Bank (ECB), said on Saturday that the spike in oil and fuel prices did not change the ECB's objective to bring inflation back towards 2% by 2025.