Tag Archives: International News Agency

OPEC and its allies were poised to extend the pact into 2019 even as a global glut of crude was set to evaporate by September.

The waivers could result in savings of $50 million or more in regulatory costs for the company'.s 2016 obligations under the biofuels law.

The region'.s second-largest producer had earlier invited bids by April 15.

Indian oil imports will grow more and more driven by transportation. petrochemicals and other sectors.

The United States now produces more crude than top exporter Saudi Arabia.

India and Iran have settled the main issue on the development of Farzad B Gas Field.

Earlier this month. the Iraqi government approved a plan to increase crude oil production to 6.5 million barrels per day.

Saudi Aramco. the world’s biggest oil producer. is moving to invest in refineries overseas to help lock in demand for its crude.

Global benchmark Brent crude oil futures were trading at $70.78 a barrel at 0342 GMT.

Sinopec put in the request earlier this week after national oil company Saudi Aramco set higher-than-expected prices.