US energy groups are requesting Trump's administration to exempt liquefied natural gas tankers from a rule requiring producers to increase exports on US-built vessels.
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India’s imports of crude oil from the US rose sharply by nearly 34% on a month-on-month basis in April as the country ramped up shipments from America.
World crude oil prices today, May 7, 2025
Brent crude futures rose 1.2 percent to $62.88 a barrel, while U.S. West Texas Intermediate crude rose 81 cents, or 1.4 percent, to $59.90 a barrel.
A joint venture (JV), consisting of Shell (through BGEPIL), Reliance Industries Limited (RIL), and Oil and Natural Gas Corporation (ONGC), has wrapped up work on what is said to be India’s first offshore facilities decommissioning project.
Canadian oil producer Suncor Energy reported first-quarter profit above analysts' expectations on Tuesday, as it benefited from greater refinery production and sales volumes.
Iran increased gasoline production to 120 million liters daily in Ordibehesht, despite a decline in profitability in the refining industry, according to a senior industry official.
World crude oil prices today, May 06, 2025
Brent crude futures rose $1.15 to $61.38 a barrel, while U.S. West Texas Intermediate crude rose $1.11 to $58.24 a barrel.
Iran's private sector authority invites Sweden to revive joint investment initiatives in automotive and electricity industries, citing potential for cooperation in non-sanctioned sectors and government guarantee of foreign capital return.
Saudi Arabia and India agreed to enhance energy cooperation, including Saudi investment in two refineries. However, initial talks have been halted due to Saudi Arabia's disagreements with India over crude supply.
World crude oil price today, May 5, 2025
Brent crude fell $2.21, or 3.61 percent, to $59.08 a barrel, while U.S. West Texas Intermediate crude fell $2.29, or 3.93 percent, to $56.00 a barrel.
The European Union will on Tuesday announce a roadmap to phase out the bloc's remaining gas ties with Moscow, but in the absence of sanctions it will be difficult for buyers to exit gas contracts using legal options such as force majeure.
The Iranian Masterbatch and Compound Producers Association and Shenzhen Plastics Association of China signed a memorandum of understanding to enhance cooperation in the plastics industry.
The CEO of Sarkhoon and Qeshm Gas Refining Company stated that through major overhauls, self-sufficiency in supplying parts, and incident-free production, the refinery had a successful performance in 1403, effectively serving the public and ensuring stable energy supply.
India and Angola have decided to expand their energy partnership with New Delhi also offering to share its experience in digital public infrastructure, space tech and capacity building with the African nation.
OPEC+ has agreed to accelerate oil production hikes for a second consecutive month, raising output in June by 411,000 barrels per day, the group said on Saturday, despite falling prices and expectations of weaker demand.
A joint meeting was held between managers and contractors of the Yaran oil field development project to explore strategies for speeding up the project's progress.
Russian oil flows to India reached a 9-month high in April due to abundant Moscow crude availability and low prices, allowing non-sanctioned tankers to transport oil without violating international regulations.
Goldman Sachs on Friday said it expects OPEC+ to announce a second consecutive increase in supply for June on Saturday, due to modest compliance from Kazakhstan, lower-than-expected OECD inventories, and Saudi Arabia's ability to handle lower oil prices.
Tehran Chamber of Commerce, Industries, Mines and Agriculture's Mahmoud Najafi Arab and Indian Ambassador Rudra Gaurav Shresth discussed expanding economic ties between Iran and India, prioritizing non-sanctioned goods exchange.
A potential gas leak incident at Oil India Limited’s (OIL) Well No. 309 in Nagajan village, Lankasi-Kothalguri, Dibrugarh district, caused widespread alarm on Thursday afternoon, reminding locals of the disastrous 2020 Baghjan blowout.