oil

Donald Trump to end waivers, escalating Iran feud; oil prices climb

The Trump administration said it won’t renew waivers that let countries buy Iranian oil without facing U.President Donald Trump said in a tweet that “Saudi Arabia and others in OPEC will more than make up the Oil Flow difference in our now Full Sanctions on Iranian Oil.

Trump puts India in a fix over Iran oil and regional strategy

Full stop," US secretary of state Mike Pompeo announced at a state department briefing on Monday, signaling an end to a nearly year-long breathing room the Trump administration had given to eight countries, including India and China, after putting them on notice to stop buying Iranian oil.Other countries that also lost the waiver in the face of the Trump administration's unremitting hostility towards Iran are all American allies – Japan, South Korea, Italy, Greece, Turkey, and Taiwan.

U.S. Moves to Stop All Nations From Buying Iranian Oil, but China Is Defiant

Pompeo said Iran has earned about $50 billion annually from oil sales, accounting for as much as 40 percent of government revenues.The United States also needs China’s help in controlling North Korea’s nuclear weapons development.

Reliance says not involved in any cash payment arrangement to Venezuela's PDVSA for oil

One internal PDVSA document indicated shipments of Venezuelan oil to Reliance in April would be settled via Rosneft.59 PM ISTAgenciesReliance said in the statement that reports it was involved in arrangements that lead to cash payments for oil supplies to PDVSA via third parties "are false and reckless.

Here are the biggest hurdles oil-market bulls will face in the next few months

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Oil prices this month touched the highest levels of the year, but the market now faces a number of key tests.benchmark crude prices and a 34% increase in global benchmark Brent crude in 2019 as of Thursday.

South Korea’s Hyundai Heavy Sells Oil Stake to Saudi Aramco for $1.2 Billion

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South Korea’s Hyundai Heavy Industries Holdings Co.The sale’s proceeds will help the Hyundai shipbuilding unit fund its $2 billion acquisition of rival






Daewoo Shipbuilding & Marine Engineering
Co.

Oil finishes lower as IEA warns that an economic slowdown could hurt demand for crude’

The Paris-based agency said demand factors remain resilient but cautioned that sluggishness in economic expansion could erode crude appetite.Market participants said that, in line with IEA’s comments, a reassessment of economic weakness and its potential impact on crude prices has given commodity investors reason to pause.

U.S. Places Sanctions on Vessel, Companies for Delivering Venezuelan Oil to Cuba

The Treasury Department increased sanctions on Venezuela on Friday.government on Friday increased sanctions on Venezuela, blacklisting a vessel that transported oil from Venezuela to Cuba and the two companies operating in the oil sector of Venezuela that own and operate the vessel.

State-run oil cos plan cash reward for retired staff

“The corporation has decided to acknowledge the contributions of retired employees and felicitate them on reaching the age-related milestones,” BPCL said in a March memo to its management staff.” The reward rises with age and a retired management staff is eligible for higher cash than workman.

L&T bags gas export pipeline contract from Kuwait Oil Company

The company said the new export gas strategic pipeline and its associated facilities will run a span of around 145 km.57 PM ISTAgenciesThe company said the order falls under "large" category that range between Rs 2,500 crore and Rs 5,000 crore as per its classification of contracts.

Hambantota port: ‘Investment in Lankan oil plant is at a very preliminary stage’

The proposed refinery near the Hambantota port is the largest foreign direct investment project in Sri Lanka.CHENNAI: Jagathrakshakan S, the senior DMK leader whose family owns the company that recently agreed to build a $3.

JPMorgan’s Role in Nigerian Oil Deal Has Come Back to Haunt It

Now the Nigerian government is demanding some of its money back — from JPMorgan Chase.In the London lawsuit, the Nigerian government is seeking damages from JPMorgan of nearly $900 million.

Oil ends lower as EIA reports first U.S. crude supply build in 3 weeks

8 million barrels for the week ended March 22.9 million barrels.

Kuwait explores new eco sectors with India to reduce dependence on oil for development schemes

52 AM ISTAgenciesOil rich Kuwait is exploring to new sectors of economic partnership with India to execute Kuwait’s development schemes with less dependence on hydrocarbon.(Representative Image)NEW DELHI: Oil rich Kuwait is exploring to new sectors of economic partnership with India to execute Kuwait’s development schemes with less dependence on hydrocarbon.

Oil prices rise on refocused attention on tightening global supplies

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Oil prices snapped back Tuesday as recent moves to soak up excess global supply—led by OPEC, as well as outages in Iran and Venezuela as a result of U.futures prices on Monday had marked their lowest settlement in just over a week on the back of persistent worries about an economic slowdown hurting energy demand.

Oil pulls back, but U.S. prices tally a third straight weekly gain

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Oil futures declined on Friday, pressured by concerns about global energy demand, but U.S.

Oil pulls back, but U.S. prices tally a third straight weekly gain

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Markets/commodities reporter










News editor













Oil futures declined on Friday, pressured by concerns about global energy demand, but U.S.

Venezuela suspends oil exports to India

55 PM ISTGetty ImagesEarlier this year, the United States imposed heavy sanctions on Venezuela's oil industry and has pressed India to stop buying Venezuelan oil.Quevedo said in order to prevent a sharp reduction, various measures are being implemented and diversification of the export market is underway," the statement said.

Rupee payment for Venezuelan oil under consideration

The US has imposed a series of sanctions on Venezuela to squeeze its oil revenue and force the nation’s President Nicolas Maduro to step down.Only private refiners Reliance Industries and Nayara Energy import Venezuelan oil, about 300,000 barrels per day.

No price hike even as crude surges: how oil-marketing companies take a body blow when India goes to the polls

But the polling exercise between April 11 and May 19 will prove to be expensive even for the custodians of energy security, the oil companies.The government’s excise mop-up increased to INR3,50,000 crore in 2017-18 from INR2,42,000 crore in 2016-17 and INR99,000 crore in 2014-15.