Indonesia, which produces around 730,000 b/d of crude, relies on imports to meet domestic demand of 1.4 million b/d, with Nigeria accounting for 18% of oil imports.

Qatar faces rising competition from a tide of new LNG from sources including Australia, which is expected to surpass it as the world's top exporter by 2019.

“Market should play a decisive role in resource allocation and the government role should be better played in order to safeguard national energy security, boost productivity and meet people’s needs,” the reform guideline said.

As a major buyer of OPEC crude, India is hoping to leverage its ties with the oil producer bloc to gain "preferential treatment," the country's petroleum minister Dharmendra Pradhan told.

“India is very price sensitive. I need to ask how do I serve my citizens best. We are free to import oil from any part of the world . . . from the US and Canada, as well as more supplies from Russia.”

China's attempt to test marine natural gas hydrates, a future energy source, has turned out to be a success, making it the first country to secure continuous and stable gas supply in marine gas hydrate exploitation, according to the Ministry of Land and Resources.

India is a major contributor to the growth in global liquid fuels consumption. Total liquid fuels consumption in India grew 8% in 2016, the largest increase since 2009, to an estimated 4.35 million barrels per day (b/d).

Cooperation will focus on grid planning, fundamental research, policy coordination, project development and information sharing, according to the deals signed between GEIDCO and the UN Department of Economic and Social Affairs, the UN Economic and Social Commission for Asia and the Pacific, the African Union Commission, the League of Arab States and the grid management bureau with the Cooperation Council for the Arab States of the Gulf.

The United States welcomes China, as well as any of our trading partners, to receive imports of LNG from the United States. The United States treats China no less favorably than other non-FTA trade partners with regard to LNG export authorizations. Companies from China may proceed at any time to negotiate all types of contractual arrangement with U.S. LNG exporters, including long-term contracts, subject to the commercial considerations of the parties. As of April 25, 2017, the U.S. Department of Energy had authorized 19.2 billion cubic feet per day of natural gas exports to non-FTA countries.

Russian state oil firm Rosneft is struggling to close its $12.9 billion acquisition of India's Essar Oil Ltd because six of Essar's Indian creditors have yet to approve the deal, sources close to the talks said.

State-owned Petrobangla has inked final deals with Summit LNG Terminal Co., a subsidiary of the Summit Group, to development Bangladesh's second floating LNG terminal.

Iran’s crude oil export to India for the fiscal year 2016-2017 increased to 540,000 barrels per day showing a three-fold rise in comparison with the preceding year.

Peak electricity demand has grown nearly 13% over the past two years as a growing middle class seeks new services, such as air conditioning, which continue to place higher demands on the system. Over the next 25 years, energy demand is expected to more than double as a result.

China was the top foreign buyer of US crude in February, according to data that show the growing interdependence of the world’s big energy-consuming nations at a time of heightened geopolitical tensions.

Speaking to reporters following a cabinet meeting on Wednesday, the official described India as one of Iran's good customers, but stressed that New Delhi cutting its oil purchase from Iran would not cause any trouble for Tehran as the country has more demand for its oil than can produce.