Oil Producers

India's imports of Russian crude oil - the feedstock for fuels like petrol and diesel - are expected to drop sharply in the near term but not halt entirely as new US sanctions on Moscow's top oil exporters take full effect, analysts said. US sanctions on Rosneft and Lukoil, and their majority-owned subsidiaries, took effect on November 21, effectively turning crude linked to these firms into a "sanctioned molecule". India's crude oil imports from Russia, averaging 1.7 million barrels per day (bpd) this year, remained firm ahead of the cutoff, with November arrivals projected at 1.8-1.9 million bpd, as refiners maximise discounted purchases. But flows are expected to drop noticeably in December and January, with analysts estimating near-term declines to around 4,00,000 bpd. Traditionally, reliant on Middle Eastern oil, India significantly increased its imports from Russia following the February 2022 Ukraine invasion. Western sanctions and reduced European demand made Russian oil ...

Beginning April this year, Opec+ had been increasing production every month. The latest September production increase fully reversed the 2.2 million bpd voluntary cut

Oil marketing companies in talks with Russia for long-term deal, say officials

Bloc members led by Saudi Arabia and Russia are holding a ministerial meeting on June 2 to decide the fate of global oil production

NewMed said all parties had agreed to pause negotiations, although Abu Dhabi National Oil Co (ADNOC) and BP have reaffirmed their interest in the deal

On Feb. 16, the government raised the windfall tax on petroleum crude to 3,300 rupees a metric ton from 3,200 rupees and hiked the tax on diesel to 1.5 rupees a litre from zero

In the last one year, the stock has outperformed the market by zooming 80 per cent, as compared to the 12.3 per cent rise in the S&P BSE Sensex.

The acquisition would be Exxon's biggest since its $81 billion deal for Mobil in 1998

Jordan's Attarat power plant was envisioned as a landmark project promising to provide the desert kingdom with a major source of energy while solidifying its relations with China. But weeks after its official opening, the site, a sea of black, crumbly rock in the barren desert south of Jordan's capital, is instead a source of heated controversy. Deals surrounding the plant put Jordan on the hook for billions of dollars in debt to China all for a plant that is no longer needed for its energy, because of other agreements made since the project's conception. The result is fueling tensions between China and Jordan and causing grief for the Jordanian government as it tries to contest the deal in an international legal battle. As Chinese influence grows in the Middle East and America withdraws, the $2.1 billion shale oil station has come to characterize China's wider model that has burdened many Asian and African states with crippling debt and served as a cautionary tale for the ...

Market analysts are somewhat divided on the CGD companies and on OIL and ONGC

In the past year, soaring energy prices and Russia's invasion of Ukraine have been accelerants and a curse for the transition away from dirty fuels

Sustained higher crude oil prices and gas realisations can result in better profitability for upstream companies, say analysts.

Rajasthan is among the top oil producers in the inland area of the country

Fear of worsening economic slowdown in China has dealt the latest blow to global crude oil, with daily prices falling to their lowest since January 4, 2022

OIL produces heavy oil and natural gas at Tanot Dandewala and Baghewala in the state, and is exploring PML for five more locations in the state.

The activists, who are a part of a group called "Just Stop Oil" wants the British government to halt new oil and gas projects

Indian state refiners plan to lock-in more of their crude supplies in term deals, worried that tighter Western sanctions on Russia, including from the EU

The property market of Saudi Arabia, the world's biggest exporter of oil, is red-hot as income from a spike in energy prices flows through the economy

To curb gold imports, govt hikes customs duty on the metal to 15% from 10.75%

According to a government statement, this move shall ensure marketing freedom for all exploration and production (E&P) operators