India’s Nayara Energy ESRO.M3 has been using Russian giant Rosneft (ROSN.MM) as an intermediary to acquire Venezuelan oil, paying it in fuel rather than cash to avoid violating U.S. sanctions, three sources with knowledge of the transactions said.
Asian spot prices for liquefied natural gas (LNG) rose to a three-week high this week ahead of winter demand, while tanker rates nearly doubled on limited availability of vessels.
Indian refiner Reliance Industries (RELI.NS) is scheduled to resume loading Venezuelan oil in October after a four-month pause, according to sources and internal documents from PDVSA seen by Reuters, a move that could help the state-run Venezuelan firm drain its high oil inventories.
Coal India Ltd has lost 13 million tonnes, or 2.1%, of its annual output this financial year, due to strikes at eastern Indian Talcher coalfields, one of India’s biggest, a spokesman for the company’s unit said on Wednesday.
India’s ICRA Ltd, a unit of Moody’s Investors Service Co, said on Monday it expects the energy hungry nation’s thermal coal imports to be more than 200 million tonnes in 2019/20, due to lower-than-expected production by state-run Coal India Ltd.
Saudi Aramco’s trading arm bought 70,000 tonnes of naphtha from Indian Oil Corp (IOC.NS) on Friday at premiums not seen since 2013 as it seeks to plug a supply gap following Sept. 14 attacks on its facilities, trade sources said on Monday.
Protests by locals in eastern India over a trespassing goat killed in an accident halted operations and cost Coal India unit Mahanadi Coalfield Ltd (MCL) 26.8 million rupees ($377,000), a spokesman said on Tuesday.
The Competition Commission of India (CCI) said here on Friday it approved Saudi Aramco’s acquisition of a 70% stake in Saudi Basic Industries Corporation (SABIC).
Essar Steel India has issued a tender for 12 liquefied natural gas (LNG) cargoes for 2020 delivery, after previous tender was cancelled, two market sources said on Friday.
Saudi Aramco is buying oil originating in neighboring countries to meet its supply obligations to foreign refineries, sources familiar with the matter told Reuters, after crippling attacks on the company’s installations 10 days ago.