India’s largest oil refiner, Indian Oil Corporation (IOC), has taken a significant step towards diversifying its crude oil supply by purchasing Colombian crude, from state oil company Ecopetrol, for the first time.
The White House has instructed U.S. military forces to concentrate largely on enforcing a “quarantine” on Venezuelan oil exports for at least the next two months, a U.S. official told Reuters, signalling that Washington is prioritising economic pressure over direct military action against Caracas.
Enrique Cocero, a political analyst, recently shared his insights on the escalating tensions surrounding the U.S. seizure of Venezuelan oil tankers.
Armenian Prime Minister Nikol Pashinyan announced the arrival of the first rail shipment of Azerbaijani petrol on Friday, calling the delivery — the first such transfer between the two countries in decades — a sign that “peace has now become a reality”.
Kazakhstan has begun redirecting part of its crude exports, sending oil from Kashagan to China as the Caspian Pipeline Consortium (CPC) operates at reduced capacity.
Russian President Vladimir Putin arrived in New Delhi on Thursday (4 December) to begin a two-day state visit, marking his first trip to India in four years.
Venezuela has accused the U.S. of attempting to seize the country’s vast oil reserves through military force, in a move the government says could destabilise the global energy market.
OPEC+ is expected to maintain its current oil production levels at meetings scheduled for Sunday, as the alliance weighs the risks of an emerging supply glut against ongoing geopolitical uncertainty, four OPEC+ sources told reporters this week.
Hungarian Prime Minister Viktor Orban said he would meet Russian President Vladimir Putin in Moscow on Friday to discuss crude and gas supplies for Hungary and also peace efforts in Ukraine.
The United States has granted Hungary a one-year exemption from sanctions on Russian oil and gas, a White House official confirmed Friday, November 7.
Between January and September this year, a total of 30.5 million tonnes of oil was transported via the Baku–Tbilisi–Ceyhan (BTC) main export pipeline, according to data released by the Georgian Oil and Gas Corporation.
The Kremlin has reacted to the latest sanctions placed on it by the Trump led administration dubbing it “counterproductive”, adding that it was immune to the sanctions.
U.S. President Donald Trump reiterated on Sunday that Indian Prime Minister Narendra Modi told him India will stop buying Russian oil, while warning that New Delhi would continue paying "massive" tariffs if it did not do so.
U.S. President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues.
Kazakhstan’s oil exports to Germany are expected to grow in 2026 following an extension of the existing supply agreement, according to Askhat Khasenov, Chairman of the state energy company Kazmunaigaz.
Ukraine’s military says it has carried out strikes on one of Russia’s main explosives factories and an oil terminal in occupied Crimea, escalating long-range attacks on key sites supporting Moscow’s war effort.
Russia on Tuesday extended its ban on gasoline exports and imposed fresh limits on other petroleum products until 31 December 2025.
The Organization of Petroleum exporting countries OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said sources familiar with the talks.
Iran's Oil Minister Mohsen Paknejad told reporters in Dubai that Tehran’s exports to Beijing would be unaffected if the “snapback” mechanism under the 2015 nuclear deal is activated on 27 September. “They will continue, we have no problem,” he said.
Canada’s government is in talks with Alberta and energy firms about scrapping a federal emissions cap on the oil and gas sector, sources told Reuters, if the industry commits to reducing its carbon footprint through other measures.
World oil supply is expected to grow more rapidly this year, with a surplus potentially expanding in 2026 as OPEC+ members increase output and production from non-OPEC countries rises, according to the International Energy Agency (IEA). This contrasts with OPEC's revised outlook.
The global market for chemical enhanced oil recovery (EOR) is set to expand significantly over the coming decade. According to Allied Market Research’s 'Global Oil Recovery Market Report,' the market, valued at $900 million in 2021, is expected to grow at an average annual rate of 4.6%, reaching $1.
India’s foreign minister says trade talks with Washington are ongoing, but New Delhi must defend its key interests as U.S. tariffs loom.
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days following the latest Ukrainian strike on a facility in Russia, the Hungarian and Slovakian governments said on Friday (22 August), in a widening of the fallout of the Ukraine war.
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