Tag Archives: Oil Price

Indian refiners expect their supply of cheaper Russian crude to be severely crippled with imminent U.S. sanctions expected to be slapped on tankers transporting Russia’s oil, refining sources in India told Reuters on Friday. Indian refiners understand that the outgoing Biden Administration is set to target in a new sanctions …

The Romanian business of Austria’s energy giant OMV has reached an agreement with German firm Uniper to supply natural gas to Germany from a Black Sea project from 2027, sources with knowledge of the deal have told Reuters. Austria and Europe as a whole are looking to secure alternative gas …

Ever since President-elect Donald Trump started talking about tariffs, Canada’s government has gone through a transformation. Overtly not huge fans of oil and gas, the ministers in Ottawa suddenly turned defensive. The latest to do that was resource minister Jonathan Wilkinson, who this week threatened in-kind retaliation against Trump’s tariffs. …

The top buyers of Russian and Iranian crude in Asia, China, and India, have been buying more crude from the Middle East and Africa, expecting fresh sanctions on Iran and Russia to cripple supply from these two exporters, traders have told Bloomberg. In the past few weeks, supply of Russian …

Abu Dhabi’s national oil company ADNOC continues to expand its global footprint in both upstream and downstream sectors. ADNOC Logistics and Services (L&S) announced the completion of a $1.08 billion acquisition of an 80% stake in UK-based product tanker operator Navig8. This acquisition gives ADNOC L&S control of a modern …

India’s largest exploration and production firm, state-held Oil and Natural Gas Corporation Limited (ONGC) has hired supermajor BP to be the technical services provider of its efforts to boost production at India’s biggest oilfield, ONGC said on Wednesday. India has been looking to increase its domestic oil and gas output …

Strong European demand for Guyana’s crude pushed the oil exports of the South American country soaring by 54% last year, with Europe accounting for the majority of shipments, Reuters reported on Wednesday, quoting shipping data and traders. Crude oil exports from Guyana averaged about 582,000 barrels per day (bpd) last …

Germany’s solar boom has slowed to a trickle and turned into a bust for domestic manufacturers of solar panels and PV system installers and providers. Following a breakneck surge in solar power installations in 2022 and 2023 at the peak of the energy crisis, German solar capacity additions slowed toward …

As Donald Trump prepares to become America’s 47th president on January 20, the potential resurgence of United States’ shale oil industry will reopen the 2014 scars for Nigeria and some of the biggest oil producers in the world as they seek to support prices and reduce oversupply. The resurging shale …

After hitting record highs this year, Norway’s oil and gas investment is expected to grow even higher in 2025. Greater development activity on new projects and the cost of inflation have contributed heavily to the increase in Norway’s oil and gas investment in 2024. Norway’s oil and gas investment is …