Russia plans to transit coal to India via the International North-South Transit Corridor (INSTC) passing through Iran, IRNA reported.
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OPEC’s weekly basket price fell by 3.79 dollars during the week ending on June 6.
President Joe Biden's administration said on Friday it has increased purchasing of crude oil to replenish the Strategic Petroleum Reserve following its historic sale from the stockpile in 2022.
The official data of the United States show that the country’s trade with the Islamic Republic of Iran has increased by 72 percent in the first four months of this year.
The World Bank (WB), in its latest report, predicted that Iran’s economy will grow 3.2 percent in 2024 and the inflation rate will decrease to 35 percent.
India's refining capacity is expected to reach 276.1 MMT by 2024, reflecting its strategic focus on enhancing its energy infrastructure to meet increasing domestic and global demand.
Canada's biggest oil sands producers support a paying a tax on carbon but see a proposed federal oil and gas emissions cap as unnecessary legislation, the companies' CEOs told lawmakers in Ottawa on Thursday.
Brent crude futures were down 11 cents, or 0.1%, to $79.76 a barrel while U.S. West Texas Intermediate crude futures rose 13 cents, or 0.2% to $75.68 as of 0824 GMT.
China’s imports of Iranian crude in May surged to the highest level in seven months after a recovery in refining margins.
OPEC Secretariat announced the price of OPEC basket of twelve crudes stood at $87.17 a barrel on 3 June, compared with $81.30 the previous day.
On the sidelines of the oil industry projects in Sistan-o-Baluchestan province, the Petroleum Ministry has implemented a number of social responsibility projects in the southeastern province and is committed to do more.
Sweltering heat and policy measures are fueling a surge in the use of gas-fired power in India, with imports of liquefied natural gas (LNG) forecast to rise sharply over the next two years, industry officials and experts say.
Brent crude futures traded up 57 cents or 0.7% at $78.98 a barrel by 0815 GMT. U.S. West Texas Intermediate crude futures were up 62 cents or 0.8% at $74.69.
Iran’s deputy minister of roads said India has agreed to allocate $1 billion to the project on the development of Iran’s southeastern Chabahar Port.
Iranian Minister of Petroleum, Javad Owji says a number of gas supply projects will be inaugurated in the southeastern province of Sistan-o-Baluchestan in the presence of the acting president Mohammad Mokhber.
Brent crude futures were up 26 cents, or 0.3%, at $77.78 a barrel by 0825 GMT. U.S. West Texas Intermediate crude futures rose 24 cents, or 0.3%, to $73.49.
Iranian company Petrochem plans to launch a chemical cluster worth $273 million in the Bukhara region, according to a presentation that Shavkat Mirziyoyev was acquainted with during his working visit to the region on May 31.
While Nigeria, Africa’s largest oil producer, continues to grapple with production and export challenges, Iran is experiencing a significant rebound in its oil exports.
French energy major TotalEnergies announced on Tuesday agreements with Indian Oil Corporation and Korea South-East Power for the supply of liquefied natural gas (LNG) over a medium to long term period.