Indian Oil Corporation and Nepal Oil Corporation have signed a B2B framework agreement for the extension of the Motihari-Amlekhgunj Petroleum Pipeline and oil storage terminals in Chitwan.
Brent crude futures were up $2.82, or 3.82%, at $76.72 a barrel by 11:36 a.m. EDT. U.S. West Texas Intermediate crude futures rose $2.85, or 4.07%, to $72.95.
Abu Dhabi's ADNOC has struck a deal to buy German chemicals maker Covestro for 14.7 billion euros ($16.3 billion), including debt, in the energy giant's biggest ever acquisition.
The head of the National Iranian Gas Transmission Company (NIGTC) stated that 99% of Iran's gas transmission equipment and facilities are domestically-made, indicating near-self-sufficiency in the industry.
Brent crude futures for December delivery edged up 13 cents, or 0.18%, to $71.83 a barrel as of 0615 GMT. U.S. West Texas Intermediate crude futures for November delivery gained 14 cents, or 0.21%, to $68.31.
Petroleum product exports from India have soared to the highest level in two and a half years as maintenance season in Europe is stoking demand for fuels from other sources.
Brent crude futures gained $1.12, up 1.56% to $73.10 a barrel. U.S. West Texas Intermediate crude futures advanced 93 cents, or 1.36%, to $69.11 a barrel.
Mexico’s Pemex has shipped its first fuel export cargo from the newly constructed Olmeca refinery to India, after facing some delays and escalating costs.
During a press conference held between the Energy Committee of Iran Chamber of Commerce, Industries, Mines and Agriculture and Iran Renewable Energy Association, the issues related to the renewable energy sector were discussed.
Statistics Canada says real gross domestic product grew 0.2 per cent in July, following essentially no change in June, helped by strength in the retail trade sector.
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.
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.