India
News
October 29, 2021
For the past year, oil consuming countries have become increasingly anxious at crude’s resurgence: first to $50 a barrel, then $75 and now to more than $85. And when Vladimir Putin, one of the leaders of the OPEC+ cartel, warned that $100 a barrel was a distinct possibility, the alarm bells really started ringing.
News
October 25, 2021
A weather phenomenon that typically delivers harsher winters is on the way and expected to add to Asia’s energy crisis.
News
September 21, 2021
Aberdeen-based global well engineering and drilling project management firm Norwell Engineering has won a lucrative contract worth more than $30 million with ONGC, India’s national oil company.
News
September 08, 2021
India’s Oil & Natural Gas Corp. is exploring a purchase of a significant minority stake in the $4 billion-plus Sangomar oil project off the coast of Senegal from Woodside Petroleum Ltd., according to people familiar with the matter.
News
September 07, 2021
India’s top energy companies, Petronet LNG Ltd. and ONGC Videsh Ltd., are having discussions about buying a stake in Russia’s planned liquefied-gas project Arctic LNG 2 as their government seeks to secure supplies of the cleaner burning fuel.
News
September 07, 2021
Cairn Energy Plc shareholders can expect a payback of as much as $700 million once the UK oil producer settles a long-running tax dispute with India.
News
June 24, 2021
Reliance Industries Ltd., which operates the world’s largest crude oil refining complex, plans to invest 750 billion rupees ($10.1 billion) in clean energy over three years, paving way for a crucial transformation as investors, consumers and governments world over seek sustainable growth.
News
May 07, 2021
Zhoushan is also home to some of the country’s largest oil terminals and storage tank farms. The same restrictions do not extend to ships transporting cargoes from India, according to an official from Zhoushan port and oil traders who asked not to be identified.
News
April 22, 2021
West Texas Intermediate slipped 0.6% following a 2.1% decline on Wednesday, when U.S. government data showed the first increase in crude stockpiles in a month. In India, coronavirus cases have topped 300,000 a day, the biggest jump globally, endangering consumption.
News
April 06, 2021
India has become a vocal critic of the kingdom’s hawkish stance on oil prices and OPEC+ output policy in recent months, with mounting tensions prompting the country to seek alternative sources of crude.
News
April 05, 2021
Crude has rallied this year as vaccine rollouts help major economies reopen. The decision by the Organization of Petroleum Exporting Countries and its allies was seen as a vote of confidence in the outlook for energy demand. The U.S. also added more than 900,000 jobs in March, the most in seven months.
News
April 01, 2021
Defying market expectations for the second time in less than a month, the group agreed to add more than 2 million barrels a day to global oil supplies from May to July. That will return about a quarter of the crude they are still withholding after making deep cuts a year ago in response to the pandemic.
News
April 01, 2021
Even if OPEC+ decided to resume phased increases, it would review each step every month, allowing it to hit pause if oil demand growth were to disappoint, according to a delegate.
News
March 31, 2021
The revision, which mainly affects the next few months, follows a recommendation from OPEC Secretary-General Mohammad Barkindo that the coalition should remain very cautious.
News
March 30, 2021
The coalition led by Saudi Arabia was widely criticized three weeks ago when it rebuffed calls to revive some of the crude production halted during the pandemic. As OPEC prepares for another decision on oil output, the producers believe their defiantly cautious approach is paying off.
News
March 24, 2021
Futures in New York jumped 5.9% on Wednesday, just about erasing the prior session’s price plunge that pushed futures to the lowest since early February. A U.S. inventory report showed domestic fuel consumption is at the highest in four months and Gulf Coast refiners are increasing their appetite for crude.
News
March 17, 2021
OPEC and its partners could quickly deploy their stalled production spare capacity to quash oil price rallies, the IEA said in its monthly report. Demand won’t return to pre-virus levels until 2023, the agency said in a separate report.
News
March 16, 2021
Futures in New York slipped 0.9% on Tuesday for a third straight session of losses, following a surge earlier this month to intraday levels last seen in 2018. Though there are indications of growing demand in some parts of the world, other regions -- notably Europe -- are lagging.
News
March 09, 2021
Saudi Arabia’s push to restrain oil supply to buoy prices is spurring India to speed up plans to diversify its crude sources and pursue alternative energy, the chairman of one of the nation’s biggest refiners said.
News
March 05, 2021
Oil rallied toward $70 a barrel after OPEC+ chose not to relax supply curbs even as the global economy pulls out of its pandemic-driven slump, confounding widespread expectations the group would loosen the taps.
News
March 05, 2021
The surprise move by OPEC+ to maintain oil supply restrictions through April, coupled with Saudi Arabia’s decision to extend voluntary curbs, has stunned the global energy market. Prices surged again on Friday, with West Texas Intermediate topping $65 a barrel, and Brent climbing above $68.
