Oil
- Middle East
Ready for all options to protect Lebanon’s oil, gas: Hezbollah
Beirut: Hezbollah leader Sayyed Hassan Nasrallah has warned Israel against making any miscalculations toward Lebanon, stressing that the Lebanese party will spare no efforts to protect Lebanon’s oil and gas. “We are…
- World
Indian Oil Company to expand operations in Sri Lanka
Colombo: The Indian Oil Corporation (IOC) will expand its operations in Sri Lanka by opening 50 fuelling stations, A top official of the LIOC said on Monday, amidst the worst economic as well…
- World
OPEC+ boosts oil output by slower pace than previous months
Vienna: The OPEC oil cartel and its allies decided on Wednesday to boost production in September at a much slower pace than in previous months at a time of high oil prices…
- Middle East
Afghanistan-Iran ink deal to import 350,000 tonnes of oil
Tehran: A delegation of the Taliban-led Afghan government, currently on a visit to Tehran, has signed a deal with Iran to import 350,000 tonnes of oil, according to media reports. The delegation included…
- India
India denies reports of Russia seeking payments for oil in Dirhams
New Delhi [India]: India has denied media reports that Russia is seeking payments in United Arab Emirates Dirhams for oil exports to some Indian refiners. Sources told ANI that there is no…
- Middle East
Saudi Arabia to increase oil production: Mohammed bin Salman
Riyadh [Saudi Arabia]: Saudi Arabian Crown Prince Mohammed bin Salman Al Saud said on Saturday that the kingdom will increase oil production to 13 million barrels per day at most, the Saudi…
- World
SL crisis: Lankan IOC to maintain separate stockpile for ambulances
Colombo: Lanka IOC, the unit of India’s biggest oil firm, has asked all its 216 petrol pumps in Sri Lanka to maintain a separate fuel stockpile for supply to ambulances in the crisis-hit…
- World
China to subsidise refiners if global oil prices surpass 130 USD
Beijing: China, the world’s largest importer of oil, announced on Wednesday that it will subsidise its oil refiners and suspend the raising of domestic fuel prices if global oil prices surpass 130…
- World
G7 nations reach deal on Russian oil price cap
Moscow: The Group of Seven (G7) leading Western economies reached an agreement on Tuesday to set a price cap on Russian oil exports, Politico reported, citing unnamed officials. The details of the…
- World
Noticeable increase in exports of Russian oil to China, India: Putin
Moscow: Russian oil exports to China and India have noticeably increased and its presence in the BRICS countries is also growing, President Vladimir Putin said on Wednesday amid the Ukraine conflict that…
- World
Russia becomes biggest supplier of oil to China
London: Russia has become China’s biggest supplier of oil as the country sold discounted crude to Beijing amid sanctions over the Ukraine war, media reports said. Imports of Russian oil rose by…
- India
Russia overtakes Saudi Arabia to become India’s 2nd biggest oil supplier
New Delhi: Russia has overtaken Saudi Arabia to become India’s second-biggest supplier of oil behind Iraq as refiners snap up Russian crude available at a deep discount following the war in Ukraine,…
- Middle East
Hezbollah vows to protect Lebanon’s oil, gas in dispute with Israel
Beirut: Lebanon-based militant group Hezbollah vowed that it has the capabilities to prevent Israel from extracting oil and gas from a disputed offshore field in the Mediterranean. In a televised speech, Hezbollah…
- Middle East
Saudi Arabia’s GDP trumps estimate, grows by 9.9 in first quarter
Riyadh: Saudi Arabia’s Gross Domestic Product (GDP) grew by 9.9 percent in the first quarter of 2022, surpassing May’s estimate of 9.6 percent. Crude petroleum and natural gas activities were the contributor…
- Middle East
Jordan launches oil exploration project in southeastern region
Amman: Jordan will start an oil exploration project in the Sarhan well, southeastern of the country. Jordan’s Energy and Mineral Resources Minister, Saleh Kharabsheh said on Tuesday that the drilling operations of…
