Brent crude futures rose 58 cents, or 0.8%, to $77.16 a barrel by 0847 GMT. U.S. West Texas Intermediate (WTI) futures were up 61 cents, or 0.8%, at $73.85.
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British energy giant bp is holding a board meeting in India as it seeks to explore new opportunities in the country's oil and gas sector, reported Reuters.
Iranian Energy Minister Abbas Aliabadi said the capacity of the country’s renewable power plants is going to be increased by the end of the current Iranian calendar year (late March 2025), IRIB reported.
The acting head of the National Petrochemical Company (NPC) has said that, based on the previously made plans, the petrochemical industry will grow 8 percent annually over the 7th national development plan.
Global crude oil prices today, October 9, 2024
Brent crude futures rose 45 cents, or 0.6%, to $77.63 a barrel by 0703 GMT. U.S. West Texas Intermediate futures rose 33 cents to $73.90 a barrel.
Indian refiners anticipate Venezuelan crude tankers from Vitol, following IOC and MRPL purchasing 2 million barrels for November delivery, as India continues to increase imports from Venezuela despite sanctions.
Iranian Energy Minister Abbas Aliabadi said his ministry is pursuing 14 major plans to prepare the country’s electricity sector for passing next summer’s peak consumption period, IRIB reported.
A member of Parliament has said that the government can do nothing alone to solve the energy imbalance problem.
Global crude oil price today, October 8, 2024
Brent crude futures fell $1.11, or 1.37%, to $79.82 per barrel at around 0805 GMT. U.S. West Texas Intermediate futures fell $1.12, or 1.45%, to $76.82 a barrel.
India will be able to navigate through any hit to oil supplies from the potential widening of the Middle East conflict, oil minister Hardeep Singh Puri said on Monday.
The South Pars Gas Complex, the country's largest gas processing facility, places significant importance on knowledge-based and domestic manufacturers, collaborating with over 100 companies.
Iran’s Oil Minister Mohsen Paknezhad has highlighted the Islamic Revolution Guards Corps (IRGC)’s role in ensuring the security of the country’s oil facilities.
The global price of crude oil today, October 7, 2024
Brent crude futures rose $1.11, or 1.4%, to $79.16 a barrel by 0839 GMT. U.S. West Texas Intermediate crude futures jumped $1.28, or 1.7%, to $75.66.
While Sensex and Nifty made wild swings on the D-Street in Friday's session, shares of Oil India Limited and Oil and Natural Gas Corporation rallied up to 6 per cent.
Oil prices could surge by $20 per barrel immediately if Israel launches a strike on Iranian oil facilities, Saudi energy expert Fahad bin Jumaa said on Sunday, pushing back against forecasts of a slower, more gradual increase.
The caretaker of Iran’s National Petrochemical Company (NPC) said the country’s petrochemical production capacity is going to reach 131 million tons by the end of the country’s seventh National Development Plan (early 2027).
Iranian Minister of Petroleum Mohsen Paknejad visited the shared oil field of Forouzan's platform in the Persian Gulf, talking with the oil industry staff there.
Minister of Petroleum Mohsen Paknejad has said: “I traveled to the Assaluyeh region to assess the country’s gas production conditions.”
Reuters announced Iran as the only member of Opec which its oil production rose in September 2024.
Iranian Minister of Petroleum Mohsen Paknejad who is visiting Assaluyeh, the capital of Iran's energy, says my trip is normal for visiting my colleagues.