Iran's oil production increased by 28,000 barrels in March 2024, marking the largest increase among OPEC members, according to the Monthly Oil Market Report.
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The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.
The economy ministers of more than 30 African countries are expected to take part in the second Iran-Africa summit which is scheduled to be held in Tehran on April 26.
Brent crude futures climbed 79 cents, or 0.9%, to $90.53 a barrel by 0900 GMT, while U.S. West Texas Intermediate crude futures rose 92 cents, or 1.1%, to $85.94.
Biden's administration seeks an appeals court to consider international implications of Enbridge's Line 5 shutdown, arguing a federal judge did not fully consider treaty obligations.
India now consumes more than double the petrol it used a decade ago as new and larger vehicles are selling at a scorching pace. Diesel consumption is up by about a third while the overall oil demand is up by half.
The provision of foreign exchange funds for the Oil Ministry’s projects in collaboration with the Central of Bank of Iran (CBI) will be put on the agenda, said Oil Minister Javad Owji on Wednesday.
The poster of the 28th Iran International Oil, Gas, Refining and Petrochemical Exhibition having the moto “Oil Industry; Surge in Production, Technological Optimization” was unveiled on Wednesday.
Brent crude futures were down 49 cents or 0.5% to $89.99 a barrel at 1030 GMT, while U.S. West Texas Intermediate crude futures lost 55 cents or 0.6% to $85.66 a barrel.
Canada's Newfoundland and Labrador province approved renewable energy firm World Energy's hydrogen plant on Tuesday, after more than 80 low-carbon hydrogen production projects have been announced in the country until March.
China and India remained the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in February, with both countries continuing to buy the fuels to partially replace crude oil, traders said and LSEG data showed.
Iran’s Oil Minister Javad Owji, in an X post, wrote on Tuesday his country’s foreign exchange revenues will hopefully increase in 1403 (Iranian year).
Pakistan's "Jeo News" TV has announced the start of the construction of a pipeline to transfer Iran's gas to Pakistan in this country's territory.
Iran’s government spokesman said on Tuesday no gas supply cuts thanks to inauguration of new phases of the South Pars (SP) field and consumption management have been reported since the 13th administration took office in August 2021.
Brent crude futures were up 30 cents, or 0.3%, at $89.72 per barrel at 1010 GMT, while U.S. West Texas Intermediate (WTI) crude futures rose 29 cents, or 0.3%, to $85.52.
Syncrude Canada, majority-owned by Suncor Energy, will pay C$390,000 ($287,187.04) after pleading guilty to a health and safety charge related to a worker's death in June 2021.
Brent crude futures rose 28 cents, or 0.31%, to $90.66 a barrel by 1002 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 24 cents or 0.28% at $86.67.
Managing Director of the National Iranian Gas Company (NIGC) Majid Chegini has said that Iran has increased eight percent in supply of gas to the country’s petrochemical complexes despite sanctions.
A number of Iranian lawmakers hailed the 13th administration’s performance in the energy sector.