In October, India imported 1.55 million barrels per day (bpd) of crude oil from Russia, as against 1.62 million bpd in the previous month. Russian oil constituted almost 34 percent of total crude oil imports by India in the month.
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Top oil exporter Saudi Arabia may keep the price for its flagship Arab Light crude little changed to Asia after five months of price hikes, as the market, rattled by geopolitical tensions, juggles supply uncertainty with declining demand.
Oil prices rose more than 1% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus.
RoydadNaft – Iranian Oil Ministry has signed 12 deals worth $34 million with various knowledge-based companies over the past year, IRNA reported.
As reported, the National…
Iran's Supreme Leader Ayatollah Ali Khamenei called on Muslim states to cease oil and food exports to Israel, demanding an end to its bombardment of the Gaza Strip, state media reported.
Oil Minister Javad Owji on Wednesday announced that Iran’s oil production has reached 3.4 million barrels per day (bpd).
RoydadNaft – The cabinet approved incentives to investment in the gas industry with the aim of redressing imbalance, said Iran’s government spokesman on Wednesday.
Indian Oil Corp Ltd (IOC) reported a profit for the second-quarter on Tuesday, compared to a loss year ago, as the country's top refiner benefited from higher refining margins.
Oil prices rebounded in Asian trade on Tuesday, after a drop of more than 3% in the previous session, as worries over supply stirred by conflict in the Middle East offset dismal China data.
RoydadNaft – While most outlets have been harping on the $6 Billion in aid recently released to Iran by the Biden Administration, Rare would like…
A member of Iran’s Parliament on Tuesday praised the Oil Ministry for doubling exports and getting the revenue over the past two years.
The CEO of India's Petronet LNG said on Monday he hoped negotiations between India and Qatar to extend their long-term liquefied natural gas import deals beyond 2028 would not be harmed by a diplomatic row between the countries.
Oil slipped more than 1% on Monday as concern eased about the Israel-Hamas war affecting supply from the region and as investors adopted caution ahead of this week's U.S. Federal Reserve meeting and other indications of global economic health.
A $27-billion deal between Iraq and France’s TotalEnergies signed in July will produce nearly 600 million cubic feet per day (mcf/d) of gas that will be enough to feed power facilities with a capacity of 5,000 megawatts (MW), Iraq’s Oil Minister has said.
The head of Iran’s National Petrochemical Company (NPC) has said the company is collaborating with the Energy Ministry to ensure sustained power supply to the petrochemical plants across the country, NIPNA reported.
India has recovered its enormous appetite for Russian oil and is likely to buy between 1.5 million barrels per day (mbpd) and 1.7 mbpd, moving back to levels last seen around March.
The spokesman of the Iranian Oil, Gas and Petrochemical Products Exporters’ Union said that Iran’s oil production has increased to 3.4 million barrels per day (bpd), despite the U.S. sanctions aimed at curbing oil exports and the associated revenue to Iran’s government.
Iran has faced tough US sanctions since 2018 when the Trump administration scuppered the 2015 nuclear agreement signed between Iran and six world powers. However, official data show Iran’s petrochemical industry could not be sanctioned.
The United States needs more heavy oil for a whole series of reasons. President Joe Biden could have chosen to have that oil come from a close friend and ally, environmentally conscious Canada, or from one of the world’s nastiest regimes, Nicolas Maduro’s Venezuela, which doesn’t give a toss about the environment.
In the relationship between nations, trade plays a significant role. Central to the ties between New Delhi and Doha is LNG, the fuel on which India is critically dependent — and of which Qatar is the predominant supplier. This is the context in which diplomacy around the eight Indians on death row will take place.