Author: omc_admin

Expressing confidence that India will continue to import oil from Russia without giving in to US coercion, President Vladimir Putin has said his country will import more from India to address the trade imbalance. Russia may buy more farm products and medicines from India, he said, adding he had instructed his govt to think of proposals to be madeThe two countries on Friday marked 25th anniversary of their Special and Privileged Strategic Partnership, with Indian govt saying that it is looking forward to strengthening ties in every segment they are working on, including trade, investment, defence, and science and technology.When…

LONDON (AP) — London’s famed Royal Parks shut their gates Saturday and road, rail and sea travel faced major disruption as a storm walloped the U.K., Ireland and Scandinavia with heavy rain and high winds.More than 200,000 properties in Ireland and Northern Ireland were left without power, and a man died in Letterkenny, northwest Ireland, on Friday in what police called a weather-related incident, without giving details.Britain’s Met Office weather agency said a gust of 96 mph (154 kph) was recorded Friday on the island of Tiree off Scotland’s west coast.In Scotland, many ferry services were suspended and roads and…

The American Petroleum Institute (API) issued the following statement from Senior Vice President and General Counsel Ryan Meyers after a federal court ruled that the previous administration’s attempt to permanently ban new oil and natural gas activity across millions of acres of federal waters was unlawful and exceeded the statutory authority of the executive branch.“We welcome the court’s decision to vacate this politically motivated decision and ensure our nation’s vast offshore resources remain a critical source of affordable energy, government revenue and stability around the world,” Meyers said. “This ruling marks another important step in advancing a robust new five-year…

The American Petroleum Institute (API) issued the following statement from Senior Vice President and General Counsel Ryan Meyers after a federal court ruled that the previous administration’s attempt to permanently ban new oil and natural gas activity across millions of acres of federal waters was unlawful and exceeded the statutory authority of the executive branch.“We welcome the court’s decision to vacate this politically motivated decision and ensure our nation’s vast offshore resources remain a critical source of affordable energy, government revenue and stability around the world,” Meyers said. “This ruling marks another important step in advancing a robust new five-year…

Saumitra P Srivastava has assumed charge as Director (Marketing) at IndianOil, bringing with him a distinguished career spanning over three decades.An academic stalwart, Srivastava is a Civil Engineering Graduate from IIT Roorkee and holds an Executive MBA from SP Jain Institute of Management & Research, Mumbai, a release said.His career has been instrumental in shaping key business segments, starting with an initial four-year tenure in the LPG business before transitioning to various key positions within the sales function. He is an accomplished executive with extensive experience, specifically in downstream operations, marketing, and strategy.His leadership style is noted for being collaborative…

Oil prices settled higher on Friday but posted a weekly loss of 8.1 per cent after news of potential increases to OPEC+ supply.Brent crude futures closed up 42 cents, or 0.7 per cent, at $64.53 a barrel by, while US West Texas Intermediate crude was up 40 cents, or 0.7 per cent, at $60.88.For the week, Brent fell 8.1 per cent, the largest weekly loss in over three months. WTI tumbled 7.4 per cent in the week. “The expected increase in OPEC+ production and the Iraq/Kurdish pipeline beginning to flow after being shut in the past two years is keeping…

Exports of US crude oil climbed to the highest level in over a year and a half in September, ship tracking data showed, as US refineries began seasonal maintenance and Asian demand increased.US crude exports rose to an average of 4.2 million barrels per day in September, the highest since February 2024, according to data from ship tracking firm Kpler. Exports had eased in July to their lowest levels in nearly four years on low domestic supplies and as Asian and European buyers found cheaper alternatives. The spread between global benchmark Brent and US West Texas Intermediate crude futures widened…

(Oil Price)– Over the past decade, the Gulf Cooperation Council (GCC), comprising Saudi Arabia, Qatar, the UAE, Bahrain, Kuwait, and Oman, has advanced bold strategies to reshape its economies by reducing reliance on oil while developing new sectors like renewable energy, tourism, financial services, and digital innovation. Charting a course toward long-term economic resilience, these nations have launched sweeping infrastructure projects and enacted reforms designed to attract foreign investment. And it has worked swimmingly, so far. During his May 2025 tour of Riyadh, Doha, and Abu Dhabi, U.S. President Donald Trump announced investment pledges totaling over $2 trillion, according to the…

(BOE Report)- Led LNG Canada has begun the process of starting up its second 6.5 million tonnes per annum (mtpa) liquefied natural gas processing unit known as Train 2 in Kitimat, British Columbia, a company spokesperson told Reuters on Thursday. The startup of Train 2, however, is happening as the company continues to experience technical problems at Train 1, according to two people with knowledge of its operations. The train was reported by sources to have technical issues in July, a month after it had started first production. LNG Canada is the first major LNG export facility in Canada, and…

(BOE Report)– The contest for MEG Energy is entering its final stages, with two competing bids on the table and shareholders set to vote in October. The upcoming votes will determine whether MEG is acquired by Cenovus, taken over by Strathcona, or remains independent. Key Dates Ahead Several important dates now define the timeline: October 7: Proxy voting deadline for MEG shareholders on the Cenovus arrangement. October 9: Special shareholder meeting to vote on Cenovus’s bid. October 20: Expiration of Strathcona’s revised offer. Strathcona, which already holds roughly 14% of MEG’s shares, has said it will vote against the Cenovus deal, making…