State-run refiner Indian Oil has invited initial bids for 24 million barrels of oil from the Americas for the January to March quarter in 2026, according to a document reviewed by Reuters on Thursday.
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Brent crude futures rose 22 cents, or 0.34 percent, to $64.62 a barrel. U.S. West Texas Intermediate crude futures rose 20 cents, or 0.33 percent, to $60.35.
India's Hindustan Petroleum issued two rare tenders to import transport fuels for early November delivery, two sources familiar with the matter said on Tuesday, after the company shut one of its processing units due to feedstock contamination.
The managing director of the National Iranian Oil Products Distribution Company said power plant fuel tanks across the country are full, leaving little capacity for additional storage.
Brent crude futures fell $1.29, or 2 percent, to $64.33 a barrel. U.S. West Texas Intermediate crude futures fell $1.20, or 2 percent, to $60.11.
Indian Oil Corp, the country's top refiner, will not completely discontinue buying Russian crude, a top company executive said on Tuesday.
The investment and business development director of the National Iranian Oil Company (NIOC) warned that without reforms in policymaking and financing, a significant portion of the country’s underground oil and gas resources may never be extracted.
Brent crude futures rose about 14 cents, or about 0.2 percent, to $66.08 a barrel. U.S. West Texas Intermediate crude futures rose 22 cents, or 0.4 percent, to $61.74.
India’s oil Secretary Pankaj Jain says India's credibility is at stake if it fails to find a major oil and gas reserve soon, urging faster, technology-driven exploration efforts.
The head of the National Iranian Oil Products Refining and Distribution Company said simultaneous efforts to boost production and manage consumption have increased diesel output by 7 million liters, leading to higher fuel reserves for power plants.
Brazilian state-run oil firm Petrobras reported record exports of some 814,000 barrels of oil per day in the third quarter, as production surged and 11 wells started operating, the firm said on Friday.
Brent crude fell 41 cents, or 0.62 percent, to $65.58. U.S. West Texas Intermediate crude fell 38 cents, or 0.61 percent, to $61.41.
Reliance Industries, India’s top buyer of Russian crude, will halt its long-term import of nearly 500,000 barrels per day from Rosneft due to U.S. sanctions, potentially impacting global oil markets. The company’s massive 1.4 million bpd refining complex also sources Russian oil from the spot market.
Brent crude rose $2.71, or 4.3 percent, to $65.30 a barrel, while U.S. West Texas Intermediate crude rose $2.56, or 4.4 percent, to $61.06.
Indian refiners are preparing to significantly reduce Russian oil imports following US sanctions on Rosneft and Lukoil, with Reliance Industries considering a complete halt to purchases, marking a significant shift for India.
The managing director of the Iranian Offshore Oil Company announced significant progress in the construction of the Abuzar oil field pipeline project, saying a new phase of the field’s development will begin soon if current progress continues.
Brent crude futures rose $1.24, or 2.0 percent, to $62.56 a barrel, while U.S. West Texas Intermediate crude futures rose $1.20, or 2.1 percent, to $58.44.
INDIA and the United States are nearing a long-stalled trade agreement that would reduce US tariffs on Indian imports to 15 per cent to 16 per cent from 50 per cent, India’s Mint reported on Wednesday citing three people aware of the matter.
Brent crude futures were unchanged at $61.01 a barrel. U.S. West Texas Intermediate (WTI) crude for November delivery fell 15 cents to $57.37.
Indian company Reliance Industries is gradually increasing purchases of Middle Eastern oil and is ready to place more orders in the near future, Bloomberg reports.