Oil

US seeking to block India, BRICS from buying Russian crude oil: Lavrov

Russia has accused the US of attempting to prevent India and other countries from buying Russian oil, saying Washington is using a wide range of "coercive" measures, including tariffs, sanctions and direct prohibitions, to fulfil its objective of global economic dominance. Foreign Minister Sergey Lavrov also accused the US of using "unfair methods" to suppress competitors by imposing sanctions on Russian oil companies. "(The US) is attempting to control our trade, investment cooperation, and military-technical ties with major strategic partners, such as India and other BRICS members," Lavrov said in an interview with TV BRICS on Monday. He said that the West is reluctant to relinquish its formerly dominant positions. "With the arrival of the (US President Donald) Trump administration, this struggle to suppress competitors became particularly pronounced and open," he said. Lavrov said that Russia accepted America's proposal on Ukraine during the Alaska talks between President Vladim

Oil theft detected from IOC pipeline in Rajasthan's Beawar: Officials

A case of oil theft has come to light in Rajasthan's Beawar district, where miscreants allegedly punctured an Indian Oil Corporation (IOC) pipeline and siphoned off fuel by laying an illegal parallel line, officials said on Saturday. The incident was detected near Lalpura Ghata in the Sendra area after IOC's technical monitoring system flagged irregularities, Beawar SP Ratan Singh said. Police have registered a case, and a search for the accused is underway, he said. Subsequently, the inspection found an unauthorised valve fitted on the pipeline along with a parallel line of about 120 metres laid to steal oil over a prolonged period, he said. According to officials, the method used for the theft appeared to be well planned, raising suspicion about the involvement of an organised gang. After the detection, the IOC's technical team reached the site and began repair work by securing the punctured section of the pipeline with clamps, they said. Senior IOC officials, including the chi

Oil holds near six-month high as investors track US-Iran tensions

Oil prices steadied near six-month highs as investors tracked US-Iran tensions, sanctions risks and a stronger dollar after a sharp monthly rally

BPCL seeks $10-12 per barrel discount on Venezuelan crude for viability

The refiner is now able to process heavy Venezuelan crude at its Kochi and Bina refineries, following upgrades that have enhanced the complexity of its refining system

ONGC seeks oil majors for Western offshore blocks; multiple deals signed

ONGC has invited global oil majors for technical support partnerships in its western offshore blocks to lift output

State-run BPCL to sign $780 million oil deal with Brazil's Petrobras

Indian refiners are redrafting their oil import strategies, buying more oil from ​Middle Eastern, African and South American countries to make up for a reduction in Russian oil supplies

Hindustan Petroleum likely to consider processing Venezuela crude oil

Refiner was unable to do so earlier due to the crude's high acidic nature

Oil refiners to report strong Q3 performance aided by high refining margins

The state-run refiners are expected to report gross refining margins of $10-13 per barrel in the third quarter of FY26, aided by strong product cracks and benign crude prices

India slips to third among Russian oil buyers as US sanctions tighten flows | India-US | Trump

India has dropped to third place among buyers of Russian fossil fuels, after a sharp fall in crude imports in December 2025. New US sanctions on major Russian oil producers have disrupted supplies

Delhi HC orders status quo on handover of Vedanta's Suvali block to ONGC

The Delhi High Court has ordered status quo on Vedanta's Suvali offshore oil block, halting the government's move to transfer operations to ONGC pending final adjudication

US to receive up to 50 million barrels of Venezuelan oil: What Trump has announced | US-Venezuela

US President Donald Trump has announced that Venezuela’s interim authorities will hand over up to 50 million barrels of sanctioned oil to the United States.

Saudi Arabia cuts oil prices again: What it means for Asia and India | US-Venezuela conflict

Saudi Arabia has cut the price of its flagship crude oil to Asia for the third straight month, signalling persistent oversupply in global oil markets.

Saudi cuts crude oil prices again amid growing competing supplies

This comes amid the International Energy Agency forecasting a supply this year of 4 million barrels per day, equivalent to 70 per cent of India's oil demand

US move on Venezuela oil lifts Reliance Industries, ONGC prospects

Indian oil companies that have invested in oil exploration projects in Venezuela might also be able to recover stuck dividends, with the US operating Venezuela's oil assets

Caribbean crisis: US actions in Venezuela threaten India's economy

Mr Trump's claim that Mr Maduro is emptying his prisons and illegally flooding the US with criminal elements and that the country is a major source of drug trafficking lacks foundation

India's HPCL-Mittal Energy stops buying Russian crude oil amid sanctions

Last week, the US and Europe imposed a raft of fresh sanctions on Russian oil, with Washington targetting the country's top oil producers Lukoil and Rosneft

Trump plan seeks to open nearly all US coasts to offshore drilling

Environmentalists blasted the reported plan, saying it would put too many coastal communities and marine habitats at risk

Oil jumps 5% as US sanctions target Russia's Rosneft and Lukoil

The sanctions could reduce global oil supplies since Russia was the world's second-biggest crude producer in 2024 after the US, according to US energy data

Putin speaks on oil, gas, coal and nuclear at Russian Energy Week

Russia maintains its position as a leading oil producer, despite unfair competition being used against us, Putin said

Trump's big claim on Russian Oil: What the numbers say | Trump tariffs | India-Russia

In a new twist to the ongoing Ukraine-Russia war diplomacy, US President Donald Trump has claimed that PM Modi has assured him that India will stop importing Russian oil.