India will not purchase liquefied natural gas (LNG) from Russia's Arctic LNG 2 project, which has been sanctioned by Western countries, Indian Oil Secretary Pankaj Jain said on Sept. 27, Reuters reported.
NEWS Feed Atom
Global Crude Oil Price Today September 27, 2024
Brent crude futures were up 8 cents, 0.1%, at $71.68 per barrel, as of 0840 GMT, while U.S. West Texas Intermediate crude futures were up 6 cents, also 0.1%, to $67.73.
India increased oil imports from Russia in 2024, retaining its main supplier status. Raw material payments increased by nearly $6 billion due to reduced discounts, freight costs, and higher oil prices.
The U.S. Treasury Department on Wednesday imposed sanctions on more than a dozen organizations and vessels over their involvement in Iranian crude oil and liquefied petroleum gas shipments to Syria and East Asia.
Iranian companies are prepared to enter the Central Asian oil industry's upstream and downstream activities, according to Iranian Minister of Petroleum Mohsen Paknejad and Tajikistan's Minister of Energy and Water Resources Daler Juma.
Global Crude Oil Price Today September 26, 2024
Brent crude futures were down $1.27, or 1.7%, to $72.19 a barrel, while U.S. West Texas Intermediate crude fell $1.18, also 1.7%, to $68.51 per barrel.
British energy giant BP is holding a board meeting in India as it seeks to explore new opportunities in the country’s oil and gas sector, reported Reuters.
Global Crude Oil Price Today September 25, 2024
Brent crude futures were down 8 cents, or 0.1%, at $75.09 a barrel at 0844 GMT. U.S. West Texas Intermediate crude was down 13 cents, or 0.2%, at $71.43 per barrel.
Iranian Minister of Petroleum Mohsen Paknejad has said that under the previously made agreements, he hopes to witness the holding of the joint economic cooperation commission between Iran and Saudi Arabia soon.
Global Crude Oil Price Today September 24, 2024
Brent crude futures were up $1.34, or 1.8%, at $75.24 a barrel by 0853 GMT. U.S. WTI crude futures rose $1.38, or 2%, to $71.75.
India's largest oil and gas bid round saw four bidders, including ONGC, OIL, Vedanta Ltd, and Reliance-bp plc, with most blocks receiving two bids each.
The National Iranian Oil Company’s CEO Hamid Bovard appointed Ibrahim Piramoun as the CEO of the National Iranian South Oil Company (NISOC) and the principal member of its board of directors.
Secretary General of the Gas Exporting Countries Forum, Mohamed Hamel, expressed gratitude to Iranian Petroleum Minister Mohsen Paknejad for organizing the 26-member GECF meeting in Tehran.
India’s crude oil production in August fell by 3.4% on the year to 2.4 million metric tons, equal to some 17.6 million barrels. Fuel production was also down, more modestly, the Economic Times reported.
Global Crude Oil Price Today September 23, 2024
Brent crude futures for November edged up by 14 cents, or 0.19%, to $74.63 a barrel by 0815 GMT. U.S. crude futures for November were up 16 cents, or 0.23%, at $71.16.
India's state-owned oil refiners are in talks with Russia to secure long-term supply deals, potentially sealing them by April of the new fiscal year.
The managing director of the National Iranian Gas Company (NIGC) has said that Iran has made good agreements with Turkmenistan and Russia, IRNA reported.
RBC CEO Dave McKay emphasizes Canada's crucial role in the US's energy security, particularly in supplying oil and gas to Asia, despite the US's focus on "Buy American."
India aims to be agile in source shifting in the energy transition era, balancing its growing economy and population with decarbonization efforts.
Brent futures , which were down 35 cents, or 0.47%, at $74.53 a barrel at 0804 GMT while U.S. WTI crude futures were down 25 cents, or 0.35%, at $71.70. Still, both were up more than 4% on the week.