India has begun paying Iran for oil in rupees, a senior bank official said Tuesday, the first such payments since the United States imposed new sanctions against Tehran in November.
Washington gave a six-month waiver to eight countries, including India, allowing them to import some Iranian oil,...
The oil market is on its way to rebalancing, and the 1.2 million barrels per day in supply cuts by OPEC and its allies will be enough to finish the job in the first half of this year, UAE Energy Minister Suhail al-Mazrouei said Wednesday.
"We have seen the correction in December, in January...
Turkey has resumed imports of Iranian crude oil after a one-month hiatus in November when US sanctions on Iran were reimposed, trading and shipping sources said.
The United States granted Turkey and other countries import waivers in early November. Turkey said it was permitted to take 3 million...
Total investments in oil and gas in Norway are set for a second annual increase in 2019, but this year will likely be the peak of oil investments on the Norwegian Continental Shelf, as investments are seen declining in 2020 through 2023, the Norwegian Oil and Gas Association, NOG, said on Monday...
India's ONGC Videsh Limited has recorded its second oil discovery in Colombia, at onshore block CPO-5 located in the oil-rich Llanos Basin, company officials said Monday.
OVL, the overseas arm of India's state-run explorer ONGC, is the operator of the onshore block with a 70% stake, while its...
Oil prices rose by more than 1% on Monday, lifted by optimism that talks could soon resolve the trade war between the United States and China, while supply cuts by major producers also supported the market.
Brent crude futures were at $57.75 per barrel, up 69 cents, or 1.2%, from their last...
With brand-name drillers unwilling to jump in, Venezuela is resorting to a newly formed US company for help in shoring up production from its crude reserves, the largest in the world.
Schlumberger Ltd. and Halliburton Co., the world’s biggest oil-service providers, have announced over $2 billion...
Trade talks resuming Monday between the US and China could signal whether crude and LNG flows will pick up between the two countries this year or stay mired in the trade dispute.
The US trade representative announced Friday that top energy and agriculture officials would be part of the US...
The global petrochemical industry is poised for solid growth over the next nine years, with nearly 1,158 planned and announced plants slated to come online primarily in Asia and the Middle East region, said a report, released on the sidelines of an industry event in Dubai.
ArabPlast 2019, a...
OPEC crude cargoes leaving for the United States in December dropped to the lowest level in at least five years, data from Refinitiv Eikon and market intelligence firm Kpler show.
Oil cargoes departing from OPEC nations to the United States fell to 1.63 million barrels per day last month, down...