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Persian Gulf states pump nearly 20 million barrels of oil a day and Abu Dhabi wants the futures for its flagship Murban grade to become the region’s main benchmark.(Reuters File Photo )

Abu Dhabi wants to revolutionize how Middle East oil is sold

Bloomberg |
PUBLISHED ON MAR 28, 2021 09:18 PM IST
The Gulf’s biggest producers -- including Saudi Arabia, Iraq and the United Arab Emirates, of which Abu Dhabi is the capital -- have traditionally priced their barrels based on benchmarks from other regions.
The morning sun rises behind oil rigs sitting in storage Saturday, Feb. 6, 2021 at a yard outside of Odessa, Texas. (Eli Hartman/Odessa American via AP)(AP)
The morning sun rises behind oil rigs sitting in storage Saturday, Feb. 6, 2021 at a yard outside of Odessa, Texas. (Eli Hartman/Odessa American via AP)(AP)

Iran claims no knowledge of oil cargo US is trying to seize

Bloomberg |
PUBLISHED ON FEB 07, 2021 03:46 PM IST
“I don’t know anything about it,” Deputy Oil Minister Amir Hossein Zamaninia told reporters in Tehran on Sunday, when asked about the 2 million barrels of crude aboard the Greek-owned Achilleas tanker.
Iranian crude oil is imported into India by refiners including Bharat Petroleum Corp Ltd . According to Investors Service Moody’s , Indian refiners will either have to significantly reduce or completely stop imports from Iran over October as US president Trump has reiterated sanctions on Iranian oil exports will take effect on November 5.(Reuters File Photo)
Iranian crude oil is imported into India by refiners including Bharat Petroleum Corp Ltd . According to Investors Service Moody’s , Indian refiners will either have to significantly reduce or completely stop imports from Iran over October as US president Trump has reiterated sanctions on Iranian oil exports will take effect on November 5.(Reuters File Photo)

India will have to reduce or stop crude oil import from Iran from October, says investors’ service Moody’s

New Delhi | By Press Trust of India
UPDATED ON SEP 27, 2018 01:53 PM IST
India is the second largest buyer of Iranian crude after China, accounting for about 30 per cent of total crude exports from the Persian Gulf nation during April-August 2018. Investors Service Moody’s said it expects Indian refiners will increase dependence on the remaining Middle Eastern crude oil suppliers over the next month.
A worker inspects a pump jack at an oil field in Tacheng, Xinjiang Uighur Autonomous Region, China.(REUTERS File Photo)
A worker inspects a pump jack at an oil field in Tacheng, Xinjiang Uighur Autonomous Region, China.(REUTERS File Photo)

India plans to cut oil imports from Iran, say officials

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON JUN 28, 2018 05:53 PM IST
While a final view on US asking India and China to cut Iranian oil imports has not yet been taken, the petroleum ministry has asked refiners to tread cautiously and start looking at alternatives, govt officials said on Thursday.
Prime Minister Narendra Modi with US president Donald Trump in Philippines in November 2017.(Reuters File Photo)
Prime Minister Narendra Modi with US president Donald Trump in Philippines in November 2017.(Reuters File Photo)

Will India stop oil imports from Iran as directed by Donald Trump: Congress asks PM Modi

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON JUN 27, 2018 09:08 PM IST
The US has told India and other countries to cut oil imports from Iran to “zero” by November 4 or face sanctions, making it clear that there would be no waivers to anyone.
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