Indian Oil Corp Ltd (IOCL), India's largest oil marketing company, has successfully completed a Rs 148 crore acquisition of oil and gas company Mercator Petroleum through the insolvency and bankruptcy code (IBC)
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Brent crude oil rose 39 cents, or 0.47%, to $83.66 a barrel by 0750 GMT. U.S. West Texas Intermediate (WTI) crude was up 22 cents, or 0.28%, at $79.45.
Gazprom CEO Alexei Miller is on a working visit to Iran, his company said in a statement on Wednesday, just as President Vladimir Putin prepares to fly to China with a high-level delegation for talks with Xi Jinping.
Since the 13th administration took office in August 2021, approximately 25 million cubic meters of associated gases have been collected that is going to reach 40 million cubic meters per day at the end of current Iranian calendar year 1403.
India has cut the windfall tax on petroleum crude to 5,700 rupees ($68.34) per metric ton from 8,400 rupees with effect from May 16, according to a notification issued on Wednesday.
Iran produced 3.212 million barrels per day (bpd) of crude oil in April, registering a 14,000 bpd increase compared to the previous month, according to OPEC’s latest monthly report.
To facilitate oil products transfer, one thousand kilometers of pipeline will come online this Iranian calendar year, ending on 20 March 2025, Iranian Minister of Petroleum, Javad Owji, said.
Japan's top power utility JERA said on Thursday it plans to invest 5 trillion yen ($32.4 billion) over the coming decade into renewable energy and new fuels such as hydrogen and ammonia, as well as liquefied natural gas (LNG).
Brent crude futures fell 25 cents, or 0.3%, to $82.50 a barrel by 0951 GMT. U.S. West Texas Intermediate crude (WTI) shed 26 cents, or 0.33%, to $78.37.
India's oil demand is projected to rise by 4.1% to 5.80 million barrels per day in 2025, driven by increased gasoline consumption and economic activity, according to the Organisation of Petroleum Exporting Countries.
Qatar has not had difficulty securing long-term liquefied natural gas (LNG) contracts and will sign more this year, QatarEnergy CEO and State Minister for Energy Saad al-Kaabi said at an economic forum on Wednesday.
Brent crude futures were up 39 cents, or 0.5%, at $82.77 a barrel at 0630 GMT. U.S. West Texas Intermediate crude futures (WTI) rose 42 cents, or 0.5%, to $78.44 a barrel.
The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Wednesday, further expanding the chasm between it and oil producer group OPEC regarding the outlook for global oil demand this year.
Iran and Russia have voiced their readiness to expand cooperation in gas technologies.
Iranian President, Ibrahim Raisie promulgated the law pertaining to referral the dispute between the Iranian Gas Engineering and Development Company (IGEDC) with the State Trading Corporation of India LTD to arbitration.
India expects to secure a “long-term arrangement” with Iran on the management of the Iranian port of Chabahar, India’s foreign minister said on Monday as the country’s shipping minister left on a visit to Iran.
Brent crude futures fell 18 cents to $83.18 a barrel at 0808 GMT, while U.S. West Texas Intermediate (WTI) crude futures also lost 18 cents to $78.94 a barrel.
Iranian Foreign Affairs Ministry spokesman, Naser Kanaani, recommended the neighboring country Kuwait to start expertise and technical talks with Tehran on the Arash gas field.
Over the last Iranian calendar year of 1402, ended 19 March 2024, petrochemical production capacity surged by 5 million tons while oil and gas sectors grew by 20 percent, Iranian Minister of Petroleum, Javad Owji, said.
Iran’s Vice-President for Scientific, Technology and Knowledge-Based Economy, Ruhollah Dehghani Firouzabadi, says that the Petroleum Ministry has won the first rank for the first-time production of strategic goods.