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 […]

International

Chevron Tanker Carrying Venezuelan Oil Heads to US

By BPN News Desk January 6, 2026

A tanker chartered by Chevron carrying Venezuelan crude oil has departed Venezuelan waters and is heading toward the United States Gulf Coast, according to shipping movement data. The cargo marks a resumption of shipments after a brief pause, amid heightened geopolitical and economic scrutiny around Venezuelan oil exports. Details of the Shipment The tanker is […]

International

US Will Not Govern Venezuela, Rubio Says

By BPN News Desk January 5, 2026

The United States does not intend to govern Venezuela directly but will continue to apply pressure to push for political and economic changes, U.S. Secretary of State Marco Rubio said. His remarks were aimed at addressing speculation about Washington’s role in Venezuela amid rising tensions and renewed debate over U.S. actions targeting the country’s oil […]

Op-Eds Opinion

US-Controlled Venezuelan Oil: Opportunity or Trap for India?

By BPN News Desk January 4, 2026

The renewed global focus on Venezuelan oil is not accidental. It follows the capture of President Nicolás Maduro, open statements by US President Donald Trump about the United States “running Venezuela,” and his blunt remark that countries buying Russian oil may soon be buying “Venezuelan American oil.” Together, these events signal a deliberate US strategy […]

International

Guyana Invites Indian Firms to 2026 Oil Block Auction

By BPN News Desk January 2, 2026

Guyana has invited Indian energy companies to participate in its offshore oil block auction scheduled for 2026, as the South American nation looks to broaden international participation in its fast growing oil sector. The move is aimed at attracting experienced players from India to invest in exploration and production activities amid Guyana’s expanding crude output. […]

Business Industry

Reliance Resumes Russian Crude Buys for Jamnagar

By BPN News Desk December 25, 2025

Reliance Industries Ltd has restarted purchases of discounted Russian crude oil after a pause following U.S. sanctions on major Russian producers. The Indian energy and petrochemicals company is sourcing barrels from suppliers not subject to sanctions and routing them to its refinery complex in Jamnagar, Gujarat. US Concession Allows Wind-Down The company has also obtained