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India Pushes Oil Refiners To Diversify After Surprise OPEC+ Cuts
As the world's third largest consumer and importer of oil, India buys about 85 per cent of its needs from overseas, while its energy demands are set to rise to power its economic expansion.
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CGT Union Shuns TotalEnergies Talks As French Petrol Crisis Drags On
Despite the government requisitioning key refinery staff to get petrol flowing again, nearly a third of gas stations still have supply problems.
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Creditors Say Chad Does Not Need Debt Relief Now Given Oil Price Surge
Together with Ethiopia and Zambia, Chad was one of three initial countries to seek a debt restructuring under a G20 initiative, but progress has been glacial.
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Ecuador Private Oil Pipeline Reports Spill Following Vandalism
The incident, which occurred on Thursday in an area known as Piedra Fina in Ecuador's Napo province, has not affected operations of the Heavy Crude Pipeline (OCP in its Spanish initials), company OCP Ecuador said in a statement.
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CGT Union Votes To Continue Strike At TotalEnergies' French Refineries
Despite the government requisitioning key refinery staff to get petrol flowing again, nearly a third of gas stations still have supply problems.
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Oil Steady As Recession Woes Counter Positive Chinese Signals
China's central bank rolled over maturing medium-term policy loans on Monday while keeping its key interest rate unchanged for a second month, in a signal that loose monetary policy would be maintained.
Read More →Fire At Indian Oil's Haldia Refinery Injures Three -Local Media
In December last year, a fire killed three people and injured 44 during maintenance-related work at the refinery.
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UAE Says It Fully Stands With Saudi Arabia To Support Energy Stability, Security
UAE also added that it supports the Saudi foreign ministry's statement regarding the latest OPEC+ decision and rejects statements that push for politicising it, WAM said.
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Rupee May Track Asian Peers Higher; U.S. Yields, Oil Prices In Focus
The rupee is seen opening at 82.25-82.30 per U.S. dollar. On Tuesday, the rupee finished at 82.36, a level almost flat to the dollar, after attempting to strengthen above 82-mark at one point.
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Honda Motorcycle & Scooter India to launch flexi-fuel model by end-2024
Honda Motorcycle and Scooter India plans to launch a flexi-fuel model of motorcycle in India by end-2024, the company's CEO said on Wednesday.
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U.S. Says Russia Oil Price Cap Will Not Be Aimed At OPEC
The comments could help ease a spat between the United States and Saudi Arabia, the top oil exporter and de facto OPEC leader, over what Washington sees as collaboration with Russia to deprive markets of supply just as a global recession looms.
Read More →Oil Up In Tight Market As U.S. Sets Release Of More Reserves
Brent crude futures for December settlement ended up $2.38, or 2.6%, to $92.41 a barrel. U.S. West Texas Intermediate crude (WTI) for November, which is expiring on Thursday, ended at $85.55 a barrel, up $2.73, or 3.3%.
Read More →Strikes End At Some Of Total Energies' French Refineries
With an eye on the autumn school break that starts at the end of the week, members of the French government, who forced some fuel depot staff to return to work earlier this week, repeated that a back to normal situation was within reach.
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Oil Prices Settle Up; China Demand Hopes Outweigh Recession Worry
To fight inflation, the U.S. Federal Reserve is trying to slow the economy and will keep raising its short-term rate target, Federal Reserve Bank of Philadelphia President Patrick Harker said on Thursday in comments that weighed on oil.
Read More →Russia Poised To Largely Skirt New G7 Oil Price Cap
The Group of Seven countries agreed last month to cap Russian oil sales at an enforced low price by Dec. 5 but faced consternation from main players in the global oil industry who feared the move could paralyse the trade worldwide.
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Amazon.com To Invest Over 1 Billion Euros In European Electric Van, Truck Fleet
The company did not say what percentage of its European last-mile delivery fleet is electric today, but said those 3,000 zero-emission vans delivered over 100 million packages in 2021.
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Chinese EV Battery Maker CATL Expects Q3 Profit To Nearly Triple
The company is the world's biggest battery maker and accounts for more than a third of global EV battery sales.
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Musk Says Excited By Twitter Deal Despite Overpaying
Musk, the chief executive of Tesla, was answering a question during a call after the electric vehicle maker's quarterly report. The world's richest person is pursuing the Twitter purchase after earlier trying to back out of the $44 billion deal.
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ABB Reports Record Margin In Q3 As Demand Stays Strong
The maker of industrial drives and electric ship motors said on Thursday its core operating profit margin increased by 1.5 percentage points to 16.6%, the highest since the Swiss company was founded in 1988.
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Mercedes Says Comprehensive Trade Deal With EU Could Make India An Export Hub
In June, the EU and India relaunched talks for a free trade agreement with the aim of completing them by the end of 2023. Talks began in 2007, but were frozen in 2013 due to lack of progress on issues including EU demands for greater access to Indian markets for its cars.
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