Page 2 - Crude Oil Supply
West Asia conflict: US renewal of Russian oil waiver a breather for India
US renews Russia oil waiver, offering relief to India amid Hormuz disruptions, as refiners rely on diversified crude sources to maintain supplies
 "West Asia conflict: US renewal of Russian oil waiver a breather for India")
Straits and narrows: The high cost of closing global chokepoints
Paying tolls to use the Strait of Hormuz is a dark omen for the future of global trade
 "Straits and narrows: The high cost of closing global chokepoints")
US extends waiver allowing India, others to buy Russian oil till May 16
The waiver comes despite earlier US reluctance, as war-linked supply disruptions and Strait of Hormuz curbs push oil prices higher and test Western efforts to restrict Russia's revenues
 "US extends waiver allowing India, others to buy Russian oil till May 16")
West Asia conflict: US waiver ends, India to keep Russia oil tap open
Indian refiners plan to continue sourcing Russian crude from non-sanctioned suppliers and vessels despite US decision not to renew temporary sanctions waivers
 "West Asia conflict: US waiver ends, India to keep Russia oil tap open")
BPCL arm to invest $2.8 billion in Brazil's oil and gas exploration project
BPCL says investment in Brazil's SEAP-I project will provide access to equity crude, helping strengthen India's energy security and diversify supply sources
 "BPCL arm to invest $2.8 billion in Brazil's oil and gas exploration project")
Brent to stay elevated amid supply shocks; easing likely by Q3: Analyst
Brent futures are currently trading near $95/bbl after a 4.6 per cent correction, yet remain up 31 per cent since the start of the conflict, 56 per cent year-to-date
 "Brent to stay elevated amid supply shocks; easing likely by Q3: Analyst")
From Berlin Blockade to Strait of Hormuz: A history of wartime blockades
As the US plans a blockade of the Strait of Hormuz after failed Iran talks, here's a look at how wartime blockades -- from world wars to today -- have disrupted trade and daily life globally
 "From Berlin Blockade to Strait of Hormuz: A history of wartime blockades")
The question of energy in times of West Asia war and global disruption
War-driven oil disruptions are reshaping global energy markets, accelerating the shift to renewables while exposing deep vulnerabilities in energy security worldwide
 "The question of energy in times of West Asia war and global disruption")
West Asia war: Indian refiners turn to Venezuela, Russia for oil supply
India has also ramped up oil purchases from alternate sources such as Nigeria and Angola
 "West Asia war: Indian refiners turn to Venezuela, Russia for oil supply")
Iran warns Bab al-Mandeb could shut: What it means for global trade routes
Iran's warning over a possible Bab al-Mandeb closure has raised concerns over global trade. The strategic strait carries oil and goods between Asia, Europe and West Asia
 "Iran warns Bab al-Mandeb could shut: What it means for global trade routes")
India returns to buying Venezuelan oil to ease supply crunch amid Iran war
India is set to import the most oil from Venezuela in almost six years as over 12 million barrels head to its west coast, reflecting a strategic shift amid West Asia supply disruptions
North American oil in demand as world grasps for supplies amid Iran war
Oil grades from Texas and North Dakota to Alberta are surging as refiners compete with rivals in Asia and Europe for barrels after weeks of strangled shipments via the Strait of Hormuz
 "North American oil in demand as world grasps for supplies amid Iran war")
Dire straits: Prolonged war could alter the global security architecture
Escalating US-Iran conflict and oil disruptions threaten global stability, while shifting alliances signal a weakening of America's geopolitical influence
 "Dire straits: Prolonged war could alter the global security architecture")
Govt says India has bought Iranian oil, rejects reports of payment issues
Amid vessel-diversion rumours, the petroleum ministry also said that Indian refiners have secured crude and LPG imports, including from Iran
 "Govt says India has bought Iranian oil, rejects reports of payment issues")
Ship carrying Iranian oil shifts course from India to China, says Kpler
Iranian crude tanker reroutes from Gujarat to China amid tightening payment terms, underscoring rising sensitivity of oil trade flows during West Asia tensions
 "Ship carrying Iranian oil shifts course from India to China, says Kpler")
Rival nations seize choke points to counter Trump's global strategy
From Iran to China, President Trump's global aggression has encouraged other countries to search for new ways to pressure the US economy
 "Rival nations seize choke points to counter Trump's global strategy")
Why closure of Strait of Hormuz leaves Asian nations most vulnerable
Wealthier economies like China, Japan and Singapore, with deep pockets and strategic reserves, can cushion the blow - in the short term at least - but others are more exposed
 "Why closure of Strait of Hormuz leaves Asian nations most vulnerable")
ONGC plans $20 billion deepwater push amid energy security concerns
ONGC plans to spend $18-20 billion to hire deepwater rigs in its largest exploration push, seeking drillships and semi-submersibles for up to five years to boost production
 "ONGC plans $20 billion deepwater push amid energy security concerns")
West Asia war damages over 40 energy assets, risks supply disruption: IEA
The effect of the current disruptions is equivalent to the two major oil crises in the 1970s and the 2022 natural gas crisis after Russia invaded Ukraine 'all put together,' IEA director Birol said
 "West Asia war damages over 40 energy assets, risks supply disruption: IEA")
30-day US waiver: Indian refiners upbeat on buying Iranian crude oil
Indian refiners weigh buying Iranian crude and LPG after US issues a 30-day waiver, as energy markets tighten amid the West Asia conflict