Traders talk peak demand and an upstream shift
Demand in Europe and the US may have peaked already, the heads of three trading companies have said, but growth will be sustained by Asia.
India
Threat of Venezuela sanctions has Reliance buying Canadian crude
Venezuela’s dwindling oil exports were dealt another blow as one of India’s top refiners secured millions of barrels of Canadian crude on concern that the U.S. is poised to step up sanctions against Caracas.
Tanker with 2 million barrels oil catches fire off Sri Lanka
An oil tanker loaded with two million barrels of Kuwati crude sailing toward India’s Paradip refinery caught fire Thursday morning off Sri Lanka’s coast, raising concerns about an oil spill.
BP’s $6bn deep-water project faces sales price risk in India
Imported LNG looks more price competitive compared to India’s new deep-water gas production over the next two to three years
Total enters into joint venture with Indian Oil Corporation
Total has entered into a partnership with Indian Oil Corporation (IOC) to manufacture and market bitumen derivatives.
Cairn-India arbitration ruling expected soon despite Covid disruption
Scottish oil firm Cairn Energy said today that Covid-19 should not significantly delay the long-awaited outcome of its £1.1 billion ($1.4bn) arbitration claim against India.
Venezuela oil crisis deepens as Indian refiners halting imports
India’s largest private refinery halted purchases of Venezuelan oil, putting additional pressure on the Latin American country’s beleaguered oil industry.
IEA: short-term pain to balance out in second half
Actions taken by producer states under the OPEC+ banner, coupled with moving oil into storage, should see a stock draw of 4.7 million barrels per day in the second half of 2020, the International Energy Agency (IEA) has said in its recent Oil Market Report (OMR).
Mozambique shows off Rovuma’s £42bn investment in bid to attract North Sea suppliers
Officials from Mozambique have showcased the level of investment in the prolific Rovuma basin in a bid to attract the expertise of North Sea companies to its supply chain.
Reasons for optimism: Taking stock of carbon reduction achievements and possibilities
As we enter a new decade, I’m sure I’m not alone in reflecting on matters that are personally important, together with major issues that impact on society, the environment and the economy.
IOC sets out the Indian advantage
When Indian Oil Corp. (IOC) was launched it focused on the downstream and has subsequently expanded into the upstream, while also moving into petrochemicals.
Low demand, US supply squeeze OPEC
Oil demand will reach 101 million barrels per day in 2020, OPEC’s World Oil Outlook (WOO) has said.
Cairn expects Indian arbitration outcome next year, drills duster in Mexico
Scottish oil firm Cairn Energy said today that the long-awaited outcome of its arbitration claim against India could be delivered next year.
Shell takes 20% stake in Indian solar firm Orb Energy
Shell has taken a 20% stake in Indian solar firm Orb Energy as part of a drive to deliver a reliable source of electricity to 100 million people in the developing world by 2030.
Tellurian signs $7.5bn US LNG pact with Petronet
Tellurian Inc. said it signed a $7.5 billion agreement for India’s Petronet LNG Ltd. to buy into its proposed liquefied natural gas terminal in Louisiana, in what could potentially be one of the largest foreign investments in the U.S. to ship shale gas abroad.
Saudi Aramco regaining grip on world’s fastest-growing oil market
Saudi Aramco’s proposed purchase of part of India’s Reliance Industries Ltd. will allow it to regain its grip on the world’s fastest-growing oil market where suppliers including the U.S. and Russia are making inroads.
TechnipFMC announces major contract awards for Indian deepwater project
TechnipFMC has announced the award of a number of “significant” contracts for a deepwater project off the coast of India.
Expro wins multimillion dollar vessel contract with Indian operator
UK oilfield services firm Expro has won a multimillion dollar contract for work on an offshore production vessel for an Indian operator.
Updated: US won’t renew sanctions waivers for Iran oil customers, Brent climbs
The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.S. sanctions, a move that roiled energy markets and risks upsetting major importers such as China and India.
Cairn posts losses of almost £1bn amid India, Kraken troubles
Scottish oil firm Cairn Energy vowed to go after "material" exploration targets this year despite suffering losses of almost £1 billion in 2018.
Updated: Cairn shares drop as Indian arbitration outcome delayed
Shares in Cairn Energy slid today after the Scottish oil firm said the outcome of its arbitration claim against India would not to be delivered “before late 2019”.
India ‘plans’ to pay five Iranian banks for oil imports
India will deposit payments for crude oil imported from Iran into escrow accounts of five of their banks held with state-run UCO Bank Ltd. after the two nations agreed on a payment mechanism to overcome U.S. sanctions, according to people with knowledge of the matter.
Total signs major gas and retail deal in India
Energy giant total has signed an agreement with Adani Group to develop various regasification projects in India, along with a network of 1,500 retail service stations.
Record India diesel prices a pain for Modi as rupee tumbles
India’s growth monikers -- the world’s fastest-growing major economy and the fastest-growing oil user -- might make for good headlines, but when juxtaposed with the less-flattering description of its currency they pose a problem for Prime Minister Narendra Modi.
Top-performing reliance is shaking off past decade’s slumber
Reliance Industries Ltd.’s recent gains are helping one of India’s most-valuable companies catch up with the benchmark index, which it had trailed for much of the past decade.