The latest issue of the OPEC Bulletin concerns the importance of the oil industry heritage and the necessity of contribution to its preservation.
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Brent crude oil futures was down by 4 cents to $83.69 a barrel by 0315 GMT. U.S. West Texas Intermediate crude futures also eased 4 cents to $80.72.
According to news reports, Indian Oil Corp (IOC) only got two bids to construct the nation’s first green hydrogen facility at its Panipat refinery in Haryana. This is in reaction to the project’s second tender, the first of which was discarded due to claims of preferential treatment.
India has raised its windfall tax on petroleum crude effective July 16, the government said in a notification on Monday.
Specialists of an Iranian knowledge-based company succeeded in reverse engineering and indigenization of the sensors for level gauges, one of the key equipment needed in the oil and gas industry.
Iran's oil production will reach four million barrels per day (bpd) by the end of current Iranian year calendar (March 20, 2025), according to Iranian Oil Minister Javad Owji.
The capacity of Iran's renewable power plants has reached 1,199.71 megawatts (MW), based on the latest data released by Iran's Renewable Energy and Energy Efficiency Organization (SATBA).
China, Japan and South Korea are set to receive cargoes of oil imports from Canada's newly expanded Trans Mountain pipeline in September, becoming the first Asian countries to benefit from the facility since it became operational in May.
Brent futures fell 21 cents, or 0.25%, to $84.64 a barrel by 0408 GMT, while U.S. West Texas Intermediate (WTI) crude dropped 25 cents, or 0.31%, to $81.66.
The Egyptian Ministry of Petroleum and Mineral Resources has announced plans to significantly increase petrochemical production capacity and attract investments in exploration in the amount of US$2.1 billion. This is reported by Daily News Egypt.
Bangladesh Prime Minister Sheikh Hasina said her government would prefer neighboring India execute a $1 billion river development project, a move that would soothe New Delhi’s security concerns.
Iranian Minister of Petroleum Javad Owji met with President-elect Masoud Pezeshkian and wished him success.
Brent crude futures rose 15 cents, or 0.2%, to $85.18 a barrel by 0425 GMT after settling down 37 cents on Friday. U.S. West Texas Intermediate crude stood at $82.41 a barrel, up 20 cents, or 0.2%.
Kuwait Oil Co. said it’s discovered “huge commercial amounts” of light oil and associated gas in an offshore field, marking a “turning point” in its efforts to explore offshore hydrocarbons.
Indian Oil Corporation Limited (IOCL) has launched a new fuel meant for racing cars and bikes taking part in motorsports, including Formula One.
A senior Iranian lawmaker has said the Islamic Republic is prepared to supply BRICS member states with oil and gas to meet their growing energy demands.
Jalil Salari, managing director of NIORDC, reports an increase in fuel consumption from 32 billion liters three years ago to 46 billion liters this year, necessitating the need for smart fuel system updates.
India is set to launch its tenth bidding round for oil and gas blocks in August or September, covering 25 blocks across 13 sedimentary basins, essential for exploration and production.
Iran and Australia emphasized on the expansion of cooperation between the two countries in non-sanctions fields during a meeting held at the place of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA).
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 35.3 percent.