The IRICA report put the non-oil trade between the two countries at 264,416 tons worth $119.357 million, with one percent fall in weight, year on year.
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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.
India is exploring the possibility of increasing oil imports from Brazil, as revealed in a meeting between India's oil minister and the head of Petrobras, Brazil's state-run oil company.
Global Crude Oil Price Today September 19, 2024
Brent crude futures for November were up 81 cents, or 1.1%, to $74.46 a barrel at 0750 GMT, while WTI crude futures for October were also up 1.1%, rising 75 cents to $71.66 a barrel.
Russian firms increased insurance cover for India's oil imports to 60% of all cargoes in July, significantly higher than 40% in December 2023 as the two nations continue cementing their energy ties, Reuters reported on Wednesday.
India is willing to purchase cheap oil from Russian companies, as confirmed by Oil Minister Hardeep Singh Puri, and is open to purchasing from any source at competitive prices.
Global crude oil prices today, September 18, 2024
Brent crude futures for November were down 54 cents, or 0.7%, at $73.16 a barrel at 0810 GMT. U.S. crude futures for October slid 46 cents, or 0.7%, to $70.73.
Financial institutions have pledged a total of $386 billion in investment commitments to help India boost its renewable energy industry, Renewables Energy Minister Pralhad Joshi said on Monday.
Iranian Minister of Petroleum Mohsen Paknejad has appointed Majid Boujarzadeh as the director of the Public Relations Department of the Petroleum Ministry.
Global Crude Oil Price Today September 16, 2024
Brent crude futures for November were up 38 cents, or 0.5%, at $71.99 a barrel at 0700 GMT. U.S. crude futures for October were up 49 cents, or 0.7%, at $69.14 a barrel.
Canada and Mexico are drawing tens of billions of dollars of investment to kick-start their liquefied natural gas export industries as a permitting freeze slows the expansion of the sector in the US, the world’s biggest supplier.
State-owned Oil India Ltd (OIL) is in discussion with French energy company TotalEnergies for exploration of hydrocarbon blocks off India’s coast, either as a technical partner or a “participating interest” (equity) partner, a senior company executive told FE.
The value of non-oil trade between Iran and Tukey stood at $6.01 billion in the first five months of the current Iranian calendar year (March 20-August 21), the Islamic Republic of Iran Customs Administration reported.
Oil India reports no payment issues for diesel exports to Bangladesh and smooth equipment transit for refinery expansion. Plans include increasing Numaligarh refining capacity by December 2025.
Gholamhossein Ramezanpour has been appointed as the new head of the Persian Gulf Star Oil Company with the approval of the company’s Board of Directors.
64 years ago, in this day the representatives of Iran, Iraq, Kuwait, Saudi Arabia and Venezuela came together in Baghdad to found an organization to defend their rights on making just revenue from oil exports and creating stability in the oil market. OPEC has issued a statement on the occasion, having honored 64 years of its achievements to this end which follows below:
India's crude oil imports remained steady at 4.6 million barrels per day in July, while product imports increased by 19%, primarily due to higher LPG volumes.
Iranian renewable power plants generated 264 million kilowatt-hours (Kwh) of electricity in the previous Iranian calendar month of Mordad (July 22-August 22), registering a 23-percent growth compared to the same month in the previous year.