Page 2 - Bl 11 News Today

Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due to valuation concerns, sources with knowledge of the matter said.

Japan's Prime Minister Fumio Kishida said on Wednesday his government would release some oil reserves in response to a U.S. request in a way that does not breach a Japanese law that only allows stock releases if there is a risk of supply disruption.

U.S. producer Occidental Petroleum Corp beat market estimates and more than doubled its profit to $836 million in the third quarter, from the previous three months, the company said in a filing.

India will seek carbon emissions data linked to each cargo of liquefied natural gas (LNG), its oil minister said on Thursday, mirroring a growing trend among top Asian buyers of the cleaner fuel ahead of global climate talks in Glasgow from Sunday.

The retail fuel joint venture of Reliance Industries Ltd and BP has started selling multiple fuels including services for charging and battery swapping for electric vehicles in India, it said in a statement on Tuesday.

Woodside Petroleum will invest more than A$1 billion ($746 million) to build a carbon-neutral hydrogen and ammonia production facility in Western Australia, the state government said on Monday.

Surging liquefied natural gas (LNG) prices are pushing buyers to look at securing long-term contracts possibly with an option for a floor and ceiling price to hedge against extreme volatility, the CEO of India's top gas importer said on Friday.

Global oil major ExxonMobil Corp is looking at buying a stake in some of the local deep water fields of Indian explorer Oil and Natural Gas Corp , oil secretary Tarun Kapoor said on Friday.

India's MRPL plans to fill a part of the Mangalore strategic petroleum reserve (SPR) with Saudi oil, replacing Abu Dhabi's Upper Zakum grade, as it prepares to lease some space in the facility, a senior official said on Thursday.

India is forming a group that brings together state-run and private refiners to seek better crude import deals, oil secretary Tarun Kapoor said on Tuesday, as the country grapples with soaring oil prices.