Oil continues to play a fundamental role in the global energy picture, and that's unlikely to change anytime soon. For instance, British oil major BP estimates that global oil demand will now grow ...

Global trading houses, Vitol and Trafigura, became the first ones to obtain US licences to load and export Venezuelan oil. Illustration: Dado Ruvic/Reuters Key Points Venezuela produces only about 0.8 ...

NEW DELHI: Reliance Industries Ltd has received a general licence from the US to directly buy Venezuelan crude without violating sanctions.Those familiar with the development said the licence allows ...

US President Donald Trump is the only person who has been going around telling the world that India plans to stop buying oil from its all-weather, longtime ally Russia, the foreign minister of the ...

The government on Tuesday informed a parliamentary panel that India will continue to import crude oil from the countries where it is cheap and of the best quality, and the Indian oil companies will ...

State-owned Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd. (HPCL) have jointly bought 2 million barrels of Venezuelan crude oil — the second deal Indian refiners have struck ...

Russia issues first statement after India-US trade deal, says ‘no word on India stopping oil purchase’ New Delhi: Days after India-US announced their trade deal where US President Donald Trump claimed ...

As United States President Donald Trump and his administration maintain that India has agreed to “stop” buying Russian oil, Kremlin on Wednesday reacted to the claims, saying New Delhi was free to buy ...

Even as U.S. President Donald Trump announced on Monday (February 3, 2026) night that India has agreed to buy more oil from Venezuela, Indian refiners in the recent past have spoken about difficulties ...

President Trump announced a trade deal with India on Monday after he said the country’s Prime Minister Narendra Modi pledged to buy U.S. and “potentially” Venezuela oil, and not oil from Russia. Trump ...

India will begin purchasing oil from Venezuela to replace some of the petrol it purchases from Russia a month after President Trump threatened to increase the 50% tariffs the US has already imposed.

"We've already made that deal, the concept of the deal," Trump told reporters aboard Air Force One. India stopped buying oil from Caracas last year after Trump in March imposed a 25% tariff on ...