Source: Indian Oil and Vitol to join forces in global trading, says source
HYDERABAD (India), Oct. 29 - Indian Oil intends to sign a contract early next year with global trader Vitol to form a joint-venture as it seeks to increase its presence in the international crude and fuel trading market. This is according to a person with knowledge of the issue.
Source: Indian Oil and Vitol to join forces in global trading, says source
Indian Oil is planning to sign a contract early next year with the global trader Vitol to form a joint-venture as it seeks to increase its presence in the international crude and fuel markets. This comes after the state-run refiner sought to expand their footprint. This move represents a major strategic shift by India's biggest refiner.
State researcher: China's oil demand will peak in 2027 and is up 100,000 bpd from this year.
A state oil researcher stated on Monday that China's total demand for oil, including all its products, will peak in 2027. This year, the sector of petrochemicals is expected to increase by about 100,000 barrels a day, due to increased volume. The researcher says that the soaring use of electric vehicles (EVs) in China…
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India to Continue Buying Russian Oil Despite US Tariffs
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Nayara Energy Relies on Dark Fleet to Transport Fuels
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Chinese Refiners Purchase 15 Cargoes of Russian Oil, Indian Demand Falls
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China's crude imports from June rose after Saudi Arabia and Iran imports increased.
Data showed that China's crude imports increased in June, both month-onmonth and year-onyear. This was due to refineries increasing operations, and an increase in imports from Saudi Arabia and Iran. Data from the General Administration of Customs revealed that China was the world's biggest crude oil importer…
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Russell: Trade truce will not revive China's energy imports from the US
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Russell: Trade truce will not revive China's energy imports from the US
Markets have welcomed the move by China and the United States to negotiate and reduce tariffs, but this will not do much to restore trade in energy commodities. For a period of 90 days, the truce will see the United States lowering its tariffs on imported goods from China to 30 percent while Beijing lowers its duties on U.S.
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Palm oil prices rise on the back of bargain-buying and strong competition oils
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EIA data show that US oil production reached a record high in October.
The U.S. Energy Information Administration reported on Tuesday that U.S. crude oil production increased by 260,000 barrels a day (bpd), month over month, to a new record of 13.46 million bpd during October. Demand surged to its highest level since the pandemic. U.S. crude oil…