According to the data, Nayara Energy has imported at least seven cargos of Russian crude on tankers that include sanctioned vessels, carrying a total of 700,000 barrels. Nayara Energy accounts for some 8% of India’s total refining capacity. It operates a 400,000-bpd refinery in Vadinar, which is the second-largest in the country. The facility is 49% owned by Russia’s Rosneft.
For the first time, the IBP study consolidates the various revenue sources generated by the sector, including ICMS, government takes (royalties and special participations), signature bonuses, the Federal Government’s profit-oil under production sharing contracts, and general federal taxes such as PIS/Cofins, CSLL, and Corporate Income Tax (IRPJ), all of which apply across the value chain.
“We delivered a strong first-half and continue to build momentum as we advance our Superior Delivers transformation”, MacDonald said. “I’m also encouraged by the performance of our CNG business, especially given the challenges in the oil and gas sector. Through disciplined cost management and strong performance outside of the wellsite business, Certarus grew EBITDA by 5 percent in the first half of 2025 and maintained its leadership position in the market as the sector navigates a temporary cyclical slowdown”.
“India’s energy journey offers engagement opportunities with Indian companies across multiple areas, including joint participation in the upcoming OALP-X bidding round, collaboration on subsea manifold and offshore technology development, apart from deploying AI-driven solutions for digital transformation in upstream operations,” the Indian minister added.
Crude oil inventories in the United States increased by 3.0 million barrels during the week ending August 8, after dropping by 3 million barrels in the week prior, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The build brings commercial stockpiles to 426.7 million barrels according to government data, which is 6% below the five-year average for this time of year.
During earnings season for the first quarter of the year, the message of the U.S. energy industry to the world was “Peak shale is here.” Now, three months later, the message has changed. Now, shale drillers are signaling there is still space to grow, so those expecting a decline after the peak will have to wait a bit longer.
Shipments of refined petroleum products out of Russia declined by 6.6% in July from the previous month, Reuters estimates showed on Wednesday, as domestic demand rose and capacity under planned maintenance increased.
Venice Energy has signed an agreement to sell its LNG project in South Australia, expected to reach a FID (final investment decision) this year, to AG&P LNG.
The awarded acreage, located northwest of Guyana’s prolific Stabroek block, is larger than Trinidad and Tobago’s landmass. The production-sharing contract marks ExxonMobil’s return to the country after a 20-year absence.
Venture Global Inc., one of the largest U.S. exporters of liquefied natural gas, has prevailed over oil giant Shell Plc in an arbitration case over the sale of cargoes from its first export plant, capping a two-year fight.