Saudi Energy Minister Khalid Falih said that the draft of an OPEC-non-OPEC indefinite cooperation charter is expected to be presented in the next two weeks. Sputnik discussed the OPEC-non-OPEC cooperation charter with Rajiv Biswas, Asia-Pacific chief economist at IHS Markit.
US oil exports will negatively affect the price of oil in the world market and the price will range between $60 and $80 over the next one-and-a-half years, Rice Energy and Environment Initiative at Rice University Executive Director Sergio Kapusta told Sputnik on Friday.
India is continuing talks with the US in a bid to ensure the extension of exemptions from Washington’s sanctions targeting countries importing Iranian oil, the Indian Petroleum secretary has told Sputnik.
US National Security Adviser John Bolton has warned countries, including India, against buying Venezuelan oil, saying nations and firms that support President Nicolas Maduro’s “theft” will “not be forgotten”.
India increased imports of crude oil from Venezuela to almost double the average quantity in the first half of this month as per data compiled by Bloomberg.
India has been importing 620,000 barrels of Venezuelan crude oil a day since early February, up 66 percent from the previous month, the NDTV news channel reported.
A day after Washington threatened to impose further economic sanctions against Iran, India once again reiterated that it will continue to import Iranian crude oil to fulfill the country’s energy needs.
India Ports Global Limited has taken over operations at the Shaheed Behesti port at Chabahar, India’s Ministry of External Affairs said after the first meeting of the follow-up committee for implementation of the trilateral Chabahar
Iranian officials say OPEC’s recent decision to cut output will reflect positively on the Islamic Republic’s economy, as Tehran is still hoping to maintain some of its oil exports despite stringent US sanctions.
The proposed site of the Ratnagiri Refinery & Petrochemicals Ltd in the Konkan region falls in the ecologically sensitive area. Farmers have launched a massive protest against land acquisition for the project claiming