28 August 2024
28 August 2024
In May, another oil tanker in the region, one of world's most important shipping lanes, was hit by an anti-ship missile.
The US market regulator charged the global energy and commodities trader with attempting to interfere with the market for EBOB-linked futures contracts.
The US Energy Information Administration (EIA) has forecast potential refinery capacity increases over the next few years as demand continues to grow.
Investment in oil is necessary to avoid severe price spikes that could damage the global economy, claims the oil giant.
The venture, estimated to cost more than $10bn (Rs839.48bn), is in discussion with ONGC and its subsidiary HPCL.
The potential transaction, which includes mature wells in the central basin, could be worth approximately $1bn.
The offering comprises ten offshore and two onshore blocks in the Mediterranean and the Nile Delta.
This move follows Cyprus' issuance of a three-month deadline for the consortium to adhere to the agreed terms.
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