Shipments of Russian Sokol crude oil to Indian Oil Corp have been delayed by payment problems, forcing India's biggest refiner to draw from its inventories and buy more oil from the Middle East, two sources familiar with the matter said.
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Almost all of Russia's oil exports this year have been shipped to China and India, Deputy Prime Minister Alexander Novak said on Wednesday, after Moscow responded to Western economic sanctions by quickly rerouting supplies away from Europe.
Shipments of Russian Sokol crude oil to Indian Oil Corp have been delayed by payment problems, forcing India's biggest refiner to draw from its inventories and buy more oil from the Middle East, two sources familiar with the matter said.
India's Adani Green Energy on Tuesday said its key shareholders will invest 93.50 billion rupees ($1.12 billion) in the company to expand its renewable power capacity.
The oil and gas industry went on a $250 billion buying spree in 2023, taking advantage of companies' high stock prices to secure lower-cost reserves and prepare for the next upheaval in an industry likely to undergo more consolidation.
The head of Iran’s National Petrochemical Company (NPC) has stressed the need for using new specialized financing solutions in the petrochemical industry, Shana reported.
The Canadian government is backing up to C$2 billion ($1.5 billion) in new commercial loans for Trans Mountain Corp (TMC), the crown corporation building an over-budget and long-delayed oil pipeline expansion to the Pacific coast.
Iranian President Ebrahim Raisi on Monday ordered the beginning of a project for the construction of solar power plants with the capacity of 4,000 megawatts (MW) across the country.
The National Petrochemical Company (NPC) managing director on Sunday said the petrochemical industry’s technology needs must be satisfied by Iranian companies.
The National Iranian Oil Products Distribution Company (NIOPDC) has reconnected 4,213 gas stations out of 4,305 nationwide to the smart fuel system following a disruption.
The managing director of Iranian Oil Terminals Company (IOTC) has said 32,000 barrels per day (bpd) of gas condensate are exported from the South Pars Gas Terminal, Shana reported.
Iran has added 60 new wells to boost production capacity in the South Azadegan oil field, which the country shares with its neighbor Iraq, the head of the National Iranian Oil Company (NIOC) announced.
Iraq’s Oil Ministry spokesman Asim Jihad affirmed Iraq's support for the OPEC+ agreement and its commitment to voluntary oil cuts, according to the Iraqi News Agency on Friday.
Angola has said it is leaving the Organization of the Petroleum Exporting Countries (OPEC) with effect from Jan. 1 2024, after exits from Ecuador in 2020 and Qatar in 2019.
India's crude oil imports decreased by 2.3 per cent and increased by 0.4 per cent during November 2023 and April-November 2023 respectively, compared to the corresponding period of the previous year.
A natural gas project to be developed in Venezuelan waters by Shell and Trinidad and Tobago's state firm National Gas Company could achieve first output in the next two years if a positive investment decision is made, Trinidad officials said on Friday.
Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.
India is set to register the second highest LNG regasification capacity additions in Asia between 2023 and 2027, accounting for about 22% of the region’s total capacity additions by 2027, forecasts GlobalData.
China's state oil majors CNPC and CNOOC have both asked the U.S. government for exemptions from sanctions on a new Russian liquefied natural gas (LNG) export plant, a Beijing-based industry official with direct knowledge of the matter said.
Angola said on Thursday it would leave OPEC in a blow to the Saudi-led oil producer group that has sought in recent months to rally support for further output cuts to prop up oil prices.