The bill for oil imports will rise if this happens. Russian crude—often sold at a discount to comparable grades—has come to account for a third of India’s total imports. Replacing this amount—over 1 million barrels daily—would likely push prices higher, adding to India’s total import bill. Crude oil imports account for 86% of domestic consumption.
A “wave” of new liquefied natural gas production capacity set to come on stream this year and in 2026 will transform the global market into one dictated by buyers, the head of the International Energy Agency, Fatih Birol, said today.
Petrofac Ltd said Thursday it was ending its “advanced stage” financial restructuring after TenneT dropped the British energy engineering company from multiple projects.
RBC Capital Markets LLC and Wells Fargo Securities LLC are underwriters in the placement. “The company expects to grant the underwriters a 30-day option to purchase up to an additional 348,666 shares of common stock from the company”, Sydney-based Tamboran said in a stock filing with the Australian Securities Exchange (ASX).
German Chancellor Friedrich Merz said he’s optimistic that the US will exempt Rosneft PJSC’s German unit from Washington’s latest sanctions against Russia.
Saipem SpA has reported EUR 221 million ($256.45 million) in net income and adjusted net income for the first three quarters, up 7.3 percent from the same nine-month period last year.
Alaeddine Karim, Microsoft’s country general manager in Kuwait, talks to The Energy Year about deploying a regional data centre and AI cluster in Kuwait and the company’s partnership with the Kuwaiti government for digital transformation. Microsoft creates platforms and tools powered by AI to deliver innovative solutions.
The US International Development Finance Corporation (DFC) and Abu Dhabi sovereign investment fund ADQ have joined the newly formed Orion Critical Mineral Consortium (Orion CMC) for investments in critical mineral resources and supply chains, the parties announced on Thursday.
Strong demand for LNG-related services drove Baker Hughes’ third-quarter financial performance above expectations, with the company reporting a 23% annual increase in orders despite a dip in net profits of 20% on the year.
The Salamanca Floating Production Unit (FPU) recently began producing from the Leon and Castile fields in Keathley Canyon, utilizing the refurbished Independence Hub—a previously decommissioned platform modernized to support long-term deepwater operations. Tampnet’s new connectivity system will provide real-time collaboration, remote monitoring, and data-driven operations across the field, reducing offshore exposure and improving efficiency.