The Kremlin has stated that India is free to purchase oil from any country, dismissing claims that India agreed to reduce Russian oil imports. Russia maintains that energy trade with India benefits both nations and contributes to international energy market stability.
United States President Donald Trump has said that India's Reliance Industries will make an investment in a new oil refinery being opened in Texas, thanking the company and 'our partners in India' for the deal.
Argentina has advanced to the World Cup final after defeating long-time rivals England with two late goals, sparking widespread celebrations across the country, particularly in Cutral Co, Patagonia, home to a new 85-foot statue of Lionel Messi.
The demerger of Vedanta's four new entities - Vedanta Aluminium Metal, Vedanta Oil & Gas, Vedanta Power, and Vedanta Iron & Steel - has led to a 16% appreciation in aggregated market capitalisation, with Vedanta Aluminium Metal identified as a likely near-term top performer due to its scale, low production costs, and favourable commodities cycle.
Reliance Industries' digital arm, Jio Platforms, may see its initial public offering (IPO) delayed to the second half of fiscal 2027, according to CreditSights. The delay is primarily attributed to ongoing geopolitical tensions in the Middle East, which could impact market conditions and investor sentiment.
American refiners closed some of their production, leading to futures trade benchmarked to the West Texas Intermediate going negative.
The Cabinet Committee on Economic Affairs last month allowed ONGC and Oil India Limited to tap shale resources in blocks allotted to them on a nomination basis.
A substantial deposit of petroleum and natural gas has been discovered in Pakistan's territorial waters, a cache so large its exploitation could change the country's destiny, according to a media report. A three-year survey was undertaken in collaboration with a friendly country to verify the presence of the oil and gas reserves, DawnNewsTV quoted a senior security official as saying on Friday.
US shale oil would act as an alternative to India's heavy dependency on Russian crude, which is currently facing sanctions.
'The US is strongly placed to expand its crude supplies to India.'
The US government, under President Trump, justifies the intervention as a security necessity rather than a resource grab. The primary official reasons include: narco-terrorism charges, national security and migration crisis.
I am inclined to believe that the Venezuela adventure is not an indication of American strength, alas, but rather of American weakness, points out Rajeev Srinivasan.
Increasing cooperation in critical minerals will top Prime Minister Modi's agenda during his discussions with leaders of Ghana, Argentinia, Brazil and Namibia.
Oil prices continued their rout on Tuesday with Brent crude and U.S. WTI both falling to their lowest in almost six years as a big OPEC producer stood by the group's decision not to cut output to tackle a glut in the market.
Reliance Industries Ltd has exited the last of its shale gas assets in the US after it agreed to sell its holding in Eagleford shale gas assets for an undisclosed sum of money.
The task of Union Finance Minister Arun Jaitley to keep inflation under check, even when the country reeled under severe drought for two years in a row, and reduce the current account deficit, was made easier by low crude oil prices.
Energy supermajor Exxon Mobil Corp is in talks to buy a stake in producing oil and gas fields in India, Oil Minister Dharmendra Pradhan said on Wednesday showcasing efforts to raise domestic output to cut imports. Exxon Mobil had in October last year signed a memorandum of understanding (MoU) with state-owned Oil and Natural Gas Corporation (ONGC) to offer its expertise and technology for developing resources in offshore blocks.
India's macroeconomic situation has benefited from oil prices' decline.
As the oil moneybags get lighter, it will be increasingly difficult for Saudi Arabia and other Gulf states to continue to support incendiary radicals. And over time, there will be greater integration of Muslim life and culture into the "mainstream".
Billionaire Mukesh Ambani's Reliance Industries Ltd has sold its stake in the shale gas asset in the US to Northern Oil and Gas Inc for USD 250 million, the firm said on Thursday.
Pushing a barrel of oil back to around $100 would require a reduction of production of about two million barrels a day - a cut that would fall predominantly on Saudi Arabia.
These countries are feeling the heat from the US shale oil producers.
OPEC's move to cut output has pushed up oil prices. From here it could go either way: oil could reach $100/barrel or an analysis of demand and supply might follow, say Abheek Barua & Bidisha Ganguly.
Seeing the potential of shale gas, Reliance Industries moved early to secure a foothold in the Marcellus shale reserves in the US.
Oil has slumped from above $115 in June 2014 as shale oil from the United States has flooded the market
Benchmark Brent oil futures prices more than halved between June 2014 and January 2015.
Speaking at a roadshow organised to promote 34 oil and gas blocks offered in the 9th round of New Exploration Licensing Policy, he said potential of shale gas in India is being examined by oil regulator Directorate General of Hydrocarbons.
US strikes on Iran's three main nuclear facilities have once again raised concerns that Tehran might shut down the Strait of Hormuz - one of the world's most critical chokepoints, through which a fifth of global oil and gas supply flows.
First right of refusal may be limited to firms working under NELP, leaving out pre-NELP blocks run by big firms such as RIL and Cairn India.
RIL, as well as its partner Pioneer Natural Resources Co, are seeking a buyer for their stakes in Eagle Ford Midstream venture as they focus on shale oil production.
The agreement was one among the several agreements signed during the visit of President Barack Obama.
To those who ask, "Is all this really worth it? Why can't domestic demand fill the gap?", it is important to remind them that only 13 economies since the Second World War have grown at 7 per cent or more for 25 years -- like India needs to. They all had one thing in common: Strong export growth underpinned by strong global engagement, explains Sajjid Z Chinoy.
As such, the Obama Administration has proposed do a resource assessment of certain shale basins in India by the US Geological Survey, and provide workshops to train Indian geophysicists on how to do their own resource assessments.
Stake valued at $4 billion, against initial expectation of $4.5 billion
The oil cartel's decision to maintain the production ceiling at its 2016 level, despite the recovery of the world economy, will ensure shortfalls in supply and high oil prices in the foreseeable future, warns Ambassador D P Srivastava.
Ril's shale gas may be impacted due to fracking ban
Global supply is staying in excess of demand.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
The ongoing oil price decline is mainly a result of oversupply in the global market
Iraq is willing to double the credit period on crude sales to 60 days if Indian refiners buy more in 2014, the head of refineries at Hindustan Petroleum said. Iran has also sweetened the deal to expand its dwindling market share by offering free shipment and a nominal discount to Indian refiners, sources said last week.
