India’s oil imports from Iraq rose 31.5 percent in July from a month ago, shipping data showed, allowing the Middle Eastern country to retain the top supplier spot for the fourth consecutive month amid declines from sellers like the United Arab Emirates, Venezuela and Iran.
Oil held around $52 a barrel on Wednesday as an industry report showing a large drop in U.S. crude stocks countered doubts that compliance with OPEC-led supply cuts will increase.
OPEC hopes for better compliance with output cut target after two days’ of deliberations with members in Abu Dhabi that concluded on Tuesday.
“Eight days ago we had a meeting (with veteran scientist and Niti Aayog member V K Saraswat) where we decided that if marine engines are run on methanol, it can be import substitute, cost-effective and pollution-free,” the minister said.
Captain Tsitrelis Ioannis and the 26-strong crew of the Malibu arrived at Ulsan in early August after sailing almost 9,000 nautical miles to deliver a million barrels of Kazakh CPC crude from the Black Sea to South Korea
Billionaire Dilip Shanghvi’s Sun Oil and Natural Gas is close to acquiring state-run Gujarat State Petroleum Corp.’s (GSPC) 66.67% stake in the Hazira gas field located in the Cambay basin in Gujarat
Royal Dutch Shell said on Tuesday it was restarting a number of units at Europe’s largest oil refinery in the Netherlands following a 10-day outage.
Russia’s largest oil producer Rosneft said on Tuesday it had made around $6 billion in pre-payments to Venezuelan state oil company PDVSA and had no immediate plans to make any further advance payments soon.
Reliance Industries Ltd. plans to refinance a significant portion of about $12 billion of borrowings that mature over the next three years and may sell bonds to repay the debt, according to company executives with knowledge of the matter.
India’s upstream petroleum regulator Directorate General of Hydrocarbons (DGH) has received as many as 45 Expressions of Interest (EoI) in a little over a month for various fields to be bid out under the mega oil and gas auctions in what analysts called an “encouraging response”.