Iranian Minister of Petroleum Mohsen Paknejad has said that under the previously made agreements, he hopes to witness the holding of the joint economic cooperation commission between Iran and Saudi Arabia soon.
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Global Crude Oil Price Today September 24, 2024
Brent crude futures were up $1.34, or 1.8%, at $75.24 a barrel by 0853 GMT. U.S. WTI crude futures rose $1.38, or 2%, to $71.75.
India's largest oil and gas bid round saw four bidders, including ONGC, OIL, Vedanta Ltd, and Reliance-bp plc, with most blocks receiving two bids each.
The National Iranian Oil Company’s CEO Hamid Bovard appointed Ibrahim Piramoun as the CEO of the National Iranian South Oil Company (NISOC) and the principal member of its board of directors.
Secretary General of the Gas Exporting Countries Forum, Mohamed Hamel, expressed gratitude to Iranian Petroleum Minister Mohsen Paknejad for organizing the 26-member GECF meeting in Tehran.
India’s crude oil production in August fell by 3.4% on the year to 2.4 million metric tons, equal to some 17.6 million barrels. Fuel production was also down, more modestly, the Economic Times reported.
Global Crude Oil Price Today September 23, 2024
Brent crude futures for November edged up by 14 cents, or 0.19%, to $74.63 a barrel by 0815 GMT. U.S. crude futures for November were up 16 cents, or 0.23%, at $71.16.
Iran's Road and Urban Development Ministry reported a 73% increase in commodity transit through roads during the first five months of the current calendar year.
India's state-owned oil refiners are in talks with Russia to secure long-term supply deals, potentially sealing them by April of the new fiscal year.
The IRICA report put the non-oil trade between the two countries at 264,416 tons worth $119.357 million, with one percent fall in weight, year on year.
The managing director of the National Iranian Gas Company (NIGC) has said that Iran has made good agreements with Turkmenistan and Russia, IRNA reported.
RBC CEO Dave McKay emphasizes Canada's crucial role in the US's energy security, particularly in supplying oil and gas to Asia, despite the US's focus on "Buy American."
India aims to be agile in source shifting in the energy transition era, balancing its growing economy and population with decarbonization efforts.
Malaysia's Ambassador to Iran Khairi Bin Omar has said Iranian products are unfamiliar to Malaysian consumers and called for the introduction of Iran-made goods in the Malaysian markets, IRNA reported.
Brent futures , which were down 35 cents, or 0.47%, at $74.53 a barrel at 0804 GMT while U.S. WTI crude futures were down 25 cents, or 0.35%, at $71.70. Still, both were up more than 4% on the week.
India is exploring the possibility of increasing oil imports from Brazil, as revealed in a meeting between India's oil minister and the head of Petrobras, Brazil's state-run oil company.
Rystad Energy's research suggests that converting upstream oil and gas production facilities to renewable electricity could reduce emissions by over 80%, with fully electrified assets emitting an 86% decrease in carbon dioxide per barrel of oil equivalent.
Global Crude Oil Price Today September 19, 2024
Brent crude futures for November were up 81 cents, or 1.1%, to $74.46 a barrel at 0750 GMT, while WTI crude futures for October were also up 1.1%, rising 75 cents to $71.66 a barrel.
Russian firms increased insurance cover for India's oil imports to 60% of all cargoes in July, significantly higher than 40% in December 2023 as the two nations continue cementing their energy ties, Reuters reported on Wednesday.
India is willing to purchase cheap oil from Russian companies, as confirmed by Oil Minister Hardeep Singh Puri, and is open to purchasing from any source at competitive prices.