The discovery at Vijayapuram-3 well supports potential hydrocarbon reserves in India’s Andaman offshore block. Oil India has detected natural gas at its Vijayapuram-3 well in the Andaman offshore block AN-OSHP-2018/1, drilled in 355m of water. This marks the second hydroca
India is launching on Friday a new fuel blend with an 85% ethanol component as part of the fuel flex mobility program of the world's third-largest crude importer to reduce dependence on imported oil. The E85 fuel was officially launched at a ceremony in New Delhi in the pr
Labour’s permanent ban on new North Sea oil and gas licenses sparks backlash over energy security and potential lost revenue. The UK Conservative Party has criticized Labour’s decision to ban new oil and gas licenses in the North Sea, calling it a threat to energy independ
Oil inventories fall, tightening market outlook Oil inventories in Europe and Singapore are declining, which could intensify market tightness. The decline in inventories, combined with stronger third-quarter demand, may require higher prices to trigger demand destr
First-quarter data shows Malaysia's crude production fell to 28.1 million barrels, offset partly by a 3% rise in condensate output. Malaysia's total oil production declined 5.5% year-over-year to 43 million barrels in the first quarter of 2026, driven by a 9.4% drop in cru
Persistent geopolitical risks in the Persian Gulf keep oil prices elevated, raising inflation concerns and reinforcing ECB tightening expectations. Oil prices are expected to hover near $100 due to ongoing geopolitical tensions in the Persian Gulf, particularly restriction
Oil prices fall as 4 million barrels per day of demand destruction and strategic reserves counterbalance lost Strait of Hormuz supply. Brent crude futures declined 2.84% despite the Strait of Hormuz being effectively closed, as markets downplay supply risks. Analysts cite
Indian energy firms explore investments in Venezuela’s oil sector following a 51% monthly rise in crude imports, officials say. Indian energy companies are in talks to expand their presence in Venezuelan oil fields after crude imports from the country surged 51% in a month
Brent crude rises to $95.37 per barrel A blast at Oman's main terminal has disrupted oil loadings, pushing benchmark prices higher. The incident has raised concerns about an end to Persian Gulf hostilities. Brent crude was trading at $95.37 per barrel, and
Mina al Fahal, a key Omani oil export hub, suspends operations following an explosion near its mooring berths amid rising regional tensions. An explosion near the single-buoy mooring berths at Oman’s Mina al Fahal crude terminal has forced a suspension of oil loading opera
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