India’s Oil and Natural Gas Corporation (ONGC) has partnered with Mitsui O.S.K. Lines (MOL), Japan’s leading shipping company and one of the largest in the world, to build, own, and operate two Very Large Ethane Carriers (VLECs).
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Russian natural gas exports to the EU saw a sharp month-over-month contraction of 18.3% in June, according to data compiled by Reuters. The drop was reportedly attributed to maintenance of the gas-pumping infrastructure.
OPEC+ agreed to increase production by 548,000 barrels per day in August, marking the first meeting since oil prices surged and then retreated following attacks on Iran.
Brent crude fell 35 cents, or 0.51 percent, to $68.45 a barrel, while U.S. West Texas Intermediate crude fell 25 cents, or 0.37 percent, to $66.75.
India’s Russian oil imports rose to an 11-month high in June, further cementing Moscow’s continued dominance in New Delhi’s oil import basket.
Saudi Arabia and Indonesia have signed agreements worth $27 billion, covering clean energy, petrochemical industries, and aviation fuel services, during Indonesian President Prabowo Subianto's visit to the Kingdom.
The Trump administration imposed new sanctions targeting Iran’s oil trade on Thursday as part of its maximum pressure campaign, the US Treasury Department announced.
Brent crude futures fell 58 cents, or 0.8 percent, to $68.53 a barrel. U.S. West Texas Intermediate crude fell 57 cents, or 0.9 percent, to $66.88.
India’s External Affairs Minister S. Jaishankar has said that New Delhi has raised concerns with U.S. Senator Lindsey Graham regarding a proposed bill that threatens to impose massive tariffs, up to 500%, on countries that continue importing oil from Russia.
The Organization of the Petroleum Exporting Countries (OPEC) launched the 2025 edition of its Annual Statistical Bulletin (ASB) on Wednesday, July 2 2025, at the OPEC Secretariat in Vienna, Austria.
Oil Minister Mohsen Paknejad said Wednesday that Iran’s oil exports are continuing unchanged in volume and terms, adding, “At present, we have no concerns in this regard.”
Brent crude rose 5 cents to $67.16 a barrel, while U.S. West Texas Intermediate crude was flat at $65.45 a barrel.
Informed trade sources have revealed that Saudi Aramco, the world's largest oil exporter, plans to raise its official selling prices for oil to Asian markets in August, marking the highest levels since April.
Brent crude rose 10 cents, or 0.2 percent, to $66.84 a barrel, while U.S. West Texas Intermediate crude rose 9 cents, or 0.1 percent, to $65.20 a barrel.
A tanker carrying the first cargo of liquefied natural gas from LNG Canada set sail Monday from British Columbia’s northern coast, heralding the commercial startup of the $18-billion Shell PLC-led export terminal and ushering in Canada’s long-awaited debut into the global LNG market.
Despite a projected decline in long-term global oil demand and a slowdown in 2025 due to Trump's tariffs, S&P Global Commodity Insights forecasts India will lead future oil demand growth, increasing import dependency.
A member of the Iranian Parliament’s Energy Committee described the oil industry’s performance during the 12-day war with the Zionist regime as a prime example of infrastructure resilience, centralized command and organizational cohesion.
The CEO of National Iranian Petrochemical Company (NPC) emphasized that cooperation among petrochemical holdings and companies, along with the implementation of NPC’s approved programs during the 12-day imposed war, helped achieve planned objectives in emergency management.
The CEO of Iran’s Offshore Oil Company announced the return of the Salman field’s water injection system to service, stating that with the startup of the gas injection compressor turbine by the end of the first half of this year, oil production from the shared Salman field will increase, and flared gas will also be reduced.
Brent crude futures fell 12 cents, or 0.18 percent, to $67.65 a barrel. U.S. West Texas Intermediate crude fell 36 cents, or 0.55 percent, to $65.16 a barrel.