Indian refiners seeking legal opinion to purchase sanctioned Russian oil through US waiver
Two government sources confirmed that Indian refiners were seeking legal advice on how to purchase Russian oil sanctioned by Washington after New Delhi was granted a waiver for buying crude at sea in order to reduce pressure on the global markets. On Thursday, the U.S. granted…
Source: India wants US marine coverage for Middle East energy cargoes
India and the United States are in discussions to secure marine coverage for vessels that ship oil from the Middle East. New Delhi is seeking to protect buyers from possible supply disruptions due to the Gulf crisis. The official who didn't want to be named said that "so far,…
Middle East is a major source of oil and LNG globally
India and other Asian countries are most dependent on Middle East oil and gas, which makes them vulnerable to supply disruptions if the conflict that has erupted following the Israeli and U.S. attack on Iran continues. Here is an overview of the imports and stockpiles of major Middle Eastern buyers.
China Oil Refiners Feel Safe From Iran Conflict Disruption with Crude Stockpile
Refiners in China, the world's top oil importer, have enough supply on hand to weather near-term disruption from the Iran conflict, bolstered by recent record purchases of Iranian and Russian crude and robust government stockpiling, traders said.A prolonged supply disruption could…
Asia's dependence on Middle East oil and LNG
Asia is highly dependent on Middle East oil and gas, which makes it vulnerable to a prolonged disruption of supply if the conflict that has erupted following the Israeli and U.S. attacks on Iran continues. Here is an overview of the imports and stocks for major Asian buyers who buy Middle Eastern oil and natural gas.
Trump announces India will purchase oil from Venezuela
U.S. president Donald Trump said on Saturday that India would buy Venezuelan crude oil to help replace some of the Russian oil it buys, the third largest oil importer in the world. Trump said to reporters on Air Force One, as he flew from Washington to his Florida vacation home, "We have already made that deal.
Trump declares that India will purchase oil from Venezuela and not Iran
U.S. President Donald Trump on Saturday said India will buy Venezuelan oil, helping to replace some of the Russian oil that the world's third-biggest oil importer buys. "We've already made that deal, the concept of the deal," Trump told reporters aboard Air Force One as he traveled…
CNOOC Ships First Golden Arrowhead Crude from Guyana To China
According to shipping and trade data, China, the world's largest oil importer will receive its first Golden Arrowhead Crude cargo from Guyana by December. Producer CNOOC Ltd is looking to expand markets for this new grade. CNOOC loaded a million-barrel shipment onto the Very Large Crude Carrier Sophia in November.
Oil India reports a 43% drop in its quarterly profit due to low selling prices and rising expenses
Oil India, an Indian exploration company, reported on Friday a 43% drop in its second-quarter profits. This was due to a decline in crude realisations (the price at which the product is sold), while increased expenses also affected margins. The profit of the state-owned company…
Russell: China's imports of major commodities, other than iron ore, are decreasing.
Iron ore, despite steel's signs of pressure, bucking this trend and restraining imports in China. The General Administration of Customs released data on Friday showing that crude oil, natural gases, copper, and coal have all declined since September. In October, China, the largest crude oil importer in the world…
Russell: China's imports of major commodities, other than iron ore, are decreasing.
Iron ore, a commodity that has been resilient in spite of the pressure on the steel industry, was the exception to the trend. The General Administration of Customs released data on Friday showing that crude oil, natural gases, copper, and coal have all declined since September.
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…
S&P Global: China's oil stocks help offset global surplus
S&P Global, which spoke at the APPEC Conference on Monday, said that China, as the world's largest oil importer, had been stockpiling the crude at a record pace for several years, helping to balance a global surplus despite the output increases by OPEC+. China has built up crude oil stocks at a rate 530,000 barrels per daily (bpd) this year.
India to Continue Buying Russian Oil Despite US Tariffs
India will continue to buy Russian oil as it proves economical, its finance minister said on Friday, despite the Trump administration's decision to impose heavy import tariffs on Indian goods due, in part, to its energy purchases from Moscow.As Europe and the U.S. have shunned Russian oil over Moscow's 2022 invasion of Ukraine…
India permits production of ethanol using sugarcane juice and molasses
In a Monday notification, the Indian government announced that it would allow production of ethanol without volume restrictions from sugarcane syrup, juice and all other types of molasses in 2025/2026. Sugarcane supply had dropped, and the second largest sugar producer in the world was forced to reduce production during this marketing year.
China's crude imports in June reached the highest daily rate of since August 2023
Data showed that China's crude imports increased in June to the highest rate daily since August 2023. This was after refineries increased their operations and imports from Saudi Arabia and Iran rose, according consultancies. Data from the General Administration of Customs revealed that China was the world's biggest crude oil importer…
Chinese Refiners Purchase 15 Cargoes of Russian Oil, Indian Demand Falls
Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow's exports falls away, two analysts and one trader said on Tuesday.India has emerged as the leading buyer of Russian seaborne oil, which has sold at a discount…
Nayara Energy Relies on Dark Fleet to Transport Fuels
Indian refiner Nayara Energy, backed by Russia and under European Union sanctions, is relying on a dark fleet to import oil and transport refined fuels, according to shipping reports and LSEG flows.Nayara, which controls about 8% of India's 5.2 million barrel-per-day refining capacity…