TotalEnergies reported a 23% fall in second-quarter earnings on Thursday, the French oil major's worst performance in four years but in line with expectations, as lower oil and gas prices outweighed a rise in production and power sales.
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Another tanker will not load fuel from India’s Nayara Energy refinery, which is under sanctions. This is the second such vessel to alter plans due to European Union restrictions, Reuters reports.
TotalEnergies and CMA CGM have formed a joint venture to operate a LNG bunker supply solution at Rotterdam's Dutch port.
Indian refiners' crude throughput declined by 4.2% month-on-month in June to 5.41 million barrels per day (22.13 million metric tons), according to provisional government data released on Tuesday.
The European Union's delayed ban-effective January 21 next year-on fuels made from Russian crude offers temporary relief, but its restrictive definition of such fuels could pose a challenge to Indian exporters.
India's petroleum product exports worth USD 15 billion to the European Union (EU) may be at risk as Brussels moves to restrict imports of Russian crude oil refined in third countries, economic think tank GTRI said.
India's Union Petroleum and Natural Gas Minister, Hardeep Singh Puri, hopes for a potential reduction in petrol and diesel prices, pending stable global crude oil prices for the next two to three months.
The European Union has imposed sanctions on India's Nayara Energy's Vadinar refinery in Gujarat, as part of its 18th sanctions package targeting Russia's energy sector. The move aims to curb Russia's war budget but has sparked India's criticism of the EU's energy trade standards.
State-run Oman LNG has signed a sales and purchase agreement (SPA) with Swiss-based Dutch multinational energy and commodity trader Vitol, the company revealed on May 19.
An Iranian missile attack on Israel's Haifa Bay refinery has caused estimated damages ranging between $150 million and $200 million, according to statements from Bazan Group, the facility’s operator.
India's Russian crude imports increased to 1.75 million barrels per day in H1 2025, retaining Russia's 35% share of the Indian oil market. However, the shrinking discount on Urals crude indicates a fading advantage, with shipping costs dropping.
NATO warns major economies like India, China, and Brazil of severe secondary sanctions if they maintain trade relations with Russia, especially in oil and gas, amid US pressure.
Brent crude fell 32 cents, or 0.5 percent, to $68.89 a barrel. U.S. West Texas Intermediate crude fell 44 cents, or 0.7 percent, to $66.54.
India may face economic consequences as the US considers a 500% tariff on Russian energy imports, disrupting India's energy strategy and raising oil prices.
Brent crude futures rose 58 cents, or 0.8 percent, to $70.94 a barrel, while U.S. West Texas Intermediate crude futures rose 59 cents, or 0.9 percent, to $69.04.
India ramped up crude oil imports from Russia to 2.08 million barrels per day in June — the highest level since July 2024 — as refiners boosted stockpiles during the Israel-Iran conflict, according to data from Kpler. Despite a 6% overall drop in India’s global crude imports, Russian oil shipments rose 8% month-on-month, underscoring Moscow’s continued dominance as India’s top oil supplier following Western sanctions.
India's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced a bold energy security roadmap, aiming for energy independence by 2047 and net-zero emissions by 2070.
US President Donald Trump is seriously considering imposing 500% tariffs on countries, including India and China, that buy Russian energy.
Crude oil exports from Saudi Arabia to China are seen reaching the highest level in two years in August, Reuters reported today, citing half a dozen unnamed trade sources.
Brent crude futures rose 76 cents, or 1.11 percent, to $69.40 a barrel. U.S. West Texas Intermediate crude rose 82 cents, or 1.23 percent, to $67.39 a barrel.