US Allows Oil Companies to Operate in Venezuela

By BPN News Desk January 30, 2026

International

The United States has issued a general licence allowing American oil companies to operate in Venezuela’s oil sector, easing some restrictions imposed under existing sanctions. The decision marks a shift in Washington’s approach toward the South American nation’s energy industry. What the

Op-Eds Opinion

Why the West Pressured India on Russian Oil Without Wanting Supply to Stop

By BPN News Desk January 24, 2026

Western capitals have spent the last two years telling their publics that sanctions are choking Russia’s war machine, and that the rest of the world is falling in line. India, the world’s third-largest oil consumer, became a prime stage for this storyline. The pressure on New Delhi to cut Russian crude has been loud, constant, […]

International

Trump Claim on UK North Sea Oil Questioned

By BPN News Desk January 23, 2026

US President Donald Trump claimed that the United Kingdom has up to 500 years of oil and gas reserves left in the North Sea, criticising British energy policy and calling for increased fossil fuel production. The remarks were made during a public interaction on global energy issues. Reality of North Sea Reserves Available official assessments […]

Op-Eds Opinion

How India Can Reduce Oil Consumption Through Time-Bound EV Policy Enforcement

By BPN News Desk January 18, 2026

Introduction India’s energy vulnerability is not electricity scarcity but oil dependence. Despite having adequate national power generation capacity and a steadily strengthening transmission backbone, India remains structurally exposed to global crude oil markets. Petrol and diesel continue to dominate transport energy consumption, making fuel imports a persistent

Op-Eds Opinion

What India Actually Gains From Finding Oil in Abu Dhabi

By BPN News Desk January 15, 2026

The news that Indian public sector companies have discovered oil in Abu Dhabi has been widely projected as a major breakthrough. Headlines have done what they usually do, suggesting a leap towards energy security and implying that India has struck oil abroad in a way that meaningfully alters its dependence on imports. The reality is […]

International

Oil Prices Rise on Iran Tension and Supply Fears

By BPN News Desk January 14, 2026

Oil prices climbed on January 13, 2026, as investors reacted to escalating political unrest in Iran and the risk of supply disruptions in the Middle East. Both main benchmarks — Brent crude and US West Texas Intermediate (WTI) — moved higher, reflecting growing concern over stability in a key oil-producing region. Geopolitical Factors Behind the […]

International

US Signals Openness to Venezuelan Oil Sales to India

By BPN News Desk January 10, 2026

The United States has indicated it is ready to allow India to purchase Venezuelan crude oil under a Washington-controlled framework, marking a potential shift in energy trade dynamics amid ongoing global supply pressures. The proposal would permit Indian refiners to resume buying Venezuelan oil, provided transactions comply with conditions set by the US. Officials said

Business

Reliance to Consider Venezuelan Oil Purchases If Permitted

By BPN News Desk January 9, 2026

Reliance Industries Ltd on Thursday said it would consider purchasing crude oil from Venezuela if sales to non-US buyers are formally allowed under prevailing international regulations. The company clarified that any such decision would be taken strictly within the framework of global sanctions and trade compliance. Awaiting Policy and Regulatory Clarity A spokesperson for

International

US to Receive Venezuelan Oil at Market Price

By BPN News Desk January 7, 2026

United States President Donald Trump has announced that the US will receive between 30 million and 50 million barrels of oil from Venezuela, with the crude to be sold at prevailing market prices. The statement was made as part of a broader address outlining Washington’s position on Venezuela’s sanctioned energy assets. Oil Transfer and Sale […]

Business

Reliance Says No Russian Oil Expected in January

By BPN News Desk January 6, 2026

Reliance Industries Ltd has said it has not received any Russian crude oil in the last three weeks and does not expect any deliveries from Russia during January. The company issued a clarification after reports claimed that tankers carrying Russian crude were heading to its Jamnagar refinery in Gujarat. Statement on Crude Procurement Reliance said […]