Indian output will get a small uplift in 2024 as the 50,000 bpd offshore K-G Basin Cluster-2 project ramps up and the onshore Rajasthan Basin posts a modest increase, says IEA.
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Brent crude futures was down 43 cents, or 0.5%, to $82.17 a barrel by 0902 GMT. West Texas Intermediate (WTI) U.S. crude futures fell 46 cents, or 0.6%, to $78.04.
The Yadavaran shared oil field’s development plan launched on Wednesday with the aim of boosting oil production by 42 thousand barrels per day.
Iranian Minister of Petroleum, Javad Owji, says the South Pars phase 13 Alpha platform is ready to start gas extraction.
During the 13th administration in office, the Petroleum Ministry contributed to creation of new businesses by supporting domestic knowledge-based companies.
India’s current oil minister has been selected for a second term following the news this week that Prime Minister Narendra Modi’s ruling party had pulled off a narrower than expected victory in national elections.
Brent crude futures rose 50 cents, or 0.6%, to $82.42 a barrel at 0630 GMT, while U.S. West Texas Intermediate (WTI) crude futures gained 62 cents, or 0.8%, to $78.52.
The National Iranian Gas Company’s Directorate for Dispatching manager, Saeed Aghli, says that the company has managed to distribute 815 billion cubic meters of gas over the past 1000 days of the 13th administration in office, without allowing imbalances to grow.
OPEC’S daily oil price has risen consistently since 3rd June, a day after it fell considerably after holding 188th OPEC and 37th OPEC+ Ministerial Meetings on June 2.
Canada-headquartered oil and natural gas exploration player Sintana Energy has wrapped up its acquisition of a stake in Giraffe Energy Investments, which enabled it to get a hold of a new license in the Orange Basin off the coast of Namibia.
Portfolio investors sold record volumes of petroleum last week after OPEC⁺ surprised the market by announcing plans to increase production starting from the fourth quarter of 2024.
Brent crude futures fell 13 cents, or 0.16%, to $81.50 per barrel by 0613 GMT and U.S. West Texas Intermediate crude futures slipped 7 cents, or 0.04%, to $77.67.
South Pars Gas Processing Complex managed to capture more volumes of gases burnt by gas stacks during the last Iranian calendar year, which ended on 20 March 2024.
India's end-use energy consumption is set to grow by 90 per cent by 2050 -- one of the fastest growth rates in the world, Russian oil giant Rosneft CEO Igor Sechin said.
Brent crude futures gained 15 cents, or 0.2%, to $79.77 a barrel by 0644 GMT and U.S. West Texas Intermediate crude futures was up 0.1%, or 10 cents, at $75.63 a barrel.
The head of the Tehran Sewage Company announced the production of diesel and black carbon from de-watered sludge in the process of wastewater treatment plants in the Iranian capital.
During the period Ibrahim Raisi served as president, the energy sector witnessed a major breakthrough amid boosting oil production and exports.
Managing director of Dehloran Natural Gas Liquids plant (NGL-1300) , Javad Kamari, says that the refining facility is ready to start operations officially.
Residents of Calgary, the largest city in Canada's main oil-producing province of Alberta, face running out of water and need to urgently cut their use after a critical water main break, city officials said on Friday.
Saudi Aramco's shares gained on Sunday, the first trading day after a secondary share offering expected to raise at least $11.2 billion.