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Indian Oil Corporation’s Investment in Renewable Energy: Rs 5,215 Crore for 1 GW Capacity

2 years ago

2 May 2024

12:51 PM

Indian Oil Corporation (IOC) has announced a significant investment of Rs 5,215 crore to develop 1 gigawatt (GW) of renewable energy capacity in India. This strategic move aligns with IOC’s broader diversification strategy beyond traditional oil and gas ventures.

Oil prices rebound after closing at seven-week low

2 years ago

2 May 2024

12:48 PM

Brent crude futures for July gained 58 cents, or 0.7%, to $84.02 a barrel by 1130 GMT. U.S. West Texas Intermediate (WTI) crude for June was up 47 cents, or 0.6%, at $79.47.

Iran says economic talks with Saudi Arabia ‘constructive’

2 years ago

2 May 2024

12:46 PM

Iran’s Economy Minister Ehsan Khandouzi said he has held favorable talks with his Saudi Arabian counterpart during his visit to the Arab country.

CNBC’s full interview with OPEC Secretary General Haitham al Ghais

2 years ago

2 May 2024

12:42 PM

Haitham Al Ghais, OPEC Secretary-General, speaks to CNBC the World Economic Forum in Riyadh about OPEC’s response to the war in Gaza, Iran sanctions and other major energy issues

Economic Growth Above 6 Percent Amid Oil Sector Contribution

2 years ago

2 May 2024

12:38 PM

Executive vice president, Mohsen Mansouri, has said that Iran’s annual average economic growth has surpassed 6 percent amid oil sector’s magnificent contribution.

India’s Chennai Petroleum two years behind on refinery construction

2 years ago

1 May 2024

9:50 AM

Chennai Petroleum is two years behind schedule on constructing a 180,000bpd refinery in Nagapattinam, Tamil Nadu, with completion expected in 2027, according to finance head Rohit Kumar Agrawala.

Canada regulator approves final permits for Trans Mountain pipeline expansion

2 years ago

1 May 2024

9:41 AM

The Canada Energy Regulator on Tuesday approved the final permits for the Trans Mountain oil pipeline expansion, clearing the way for the project to start operating after years of delays and massive cost overruns.

Oil falls for a third day as Middle East ceasefire hopes rise

2 years ago

1 May 2024

7:58 AM

Both oil price benchmarks were down more than 1% at 0650 GMT. Brent crude futures for July were 88 cents lower at $85.45 a barrel, while U.S. West Texas Intermediate crude futures for June were 90 cents lower at $81.03 per barrel.

Iran, Iraq private sectors call for joint investment

2 years ago

1 May 2024

7:50 AM

The head of the Iran-Iraq Joint Chamber of Commerce Yahya Al-e Eshaq says Iran and Iraq should make joint investments as a way to give a further boost to bilateral trade relations.

NIOC inks $6.4b of MOUs with domestic firms to boost gas output

2 years ago

1 May 2024

7:39 AM

the National Iranian Oil Company (NIOC) has signed memorandums of understanding (MOUs) worth $6.4 billion with local companies to increase the country’s natural gas output by 127 million cubic meters.

Daily Gas Production Rising By 127 mcm/d

2 years ago

1 May 2024

7:31 AM

Gas production capacity of the country will rise by 127 million cubic meters per day by implementation of today’s signed memorandums of understanding, the National Iranian Oil Company’s (NIOC) managing director, Mohsen Khojastehmehr said.

79 projects coming online this year, worth 16 billion dollars

2 years ago

1 May 2024

7:29 AM

Iranian minister of petroleum, Javad Owji, says 79 semi-finished projects, worth 16 billion dollars, will come online during the current Iranian calendar year, ending on 20 March 2025.

With oil set to flow, what next for Canada’s Trans Mountain pipeline expansion?

2 years ago

30 April 2024

11:06 AM

Canada's Trans Mountain pipeline expansion is set to enter partial operation on May 1, years behind schedule and at more than four times the original cost - but with the potential to affect oil flows even outside North America.

Oil steady as investors eye Mideast talks, rates meeting

2 years ago

30 April 2024

11:03 AM

Brent crude futures rose 27 cents, or 0.3%, to $88.67 a barrel at 0830 GMT, while U.S. West Texas Intermediate crude futures gained 30 cents, or 0.4%, to $82.93 a barrel.

Iran’s AEOI to Help Oil Ministry to Improve Quality of Products

2 years ago

30 April 2024

10:54 AM

The Iranian Oil Ministry and the Atomic Energy Organization of Iran in a ceremony signed a memorandum of understanding to increase cooperation in different fields, including application of nuclear technology to improve quality of oil products.

79 projects coming online this year, worth 16 billion dollars

2 years ago

30 April 2024

10:42 AM

Iranian minister of petroleum, Javad Owji, says 79 semi-finished projects, worth 16 billion dollars, will come online during the current Iranian calendar year, ending on 20 March 2025.

India’s ONGC struggling to move Russian oil to Asia as sanctions bite – sources

2 years ago

29 April 2024

11:04 AM

India's ONGC faces challenges in locating a vessel to transport 700,000 barrels of crude from Russia's Far East due to Western sanctions disrupting complex trades.

Oil prices steady on Hamas ceasefire talks

2 years ago

29 April 2024

10:57 AM

Brent crude futures for June , which expire on Tuesday, were down by 51 cents, or 0.6%, to $88.99 a barrel by 0950 GMT. The more active July contract fell 27 cents, or 0.3%, to $87.94 a barrel.

Iran oil output up 500,000 bpd y/y: IMF

2 years ago

29 April 2024

10:45 AM

The new statistics released by the International Monetary Fund (IMF) show that Iran's oil production in 2023 saw an increase of 500,000 barrels per day (bpd) in comparison to the previous year, reaching 3.1 million bpd.

Iran’s LPG can meet Africa needs to the product

2 years ago

29 April 2024

10:40 AM

Iran, as the third largest LPG producer in the world, is capable of exporting the product to African countries, acting head of international affairs at the National Iranian Gas Company (NIGC), Amirhoushang Karami, said.

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Latest News of Oil, Gas and Petrochemical industry

BREAKING NEWS Feed Atom

Indian Oil Corporation’s Investment in Renewable Energy: Rs 5,215 Crore for 1 GW Capacity

Oil prices rebound after closing at seven-week low

Iran says economic talks with Saudi Arabia ‘constructive’

CNBC’s full interview with OPEC Secretary General Haitham al Ghais

Economic Growth Above 6 Percent Amid Oil Sector Contribution

India’s Chennai Petroleum two years behind on refinery construction

Canada regulator approves final permits for Trans Mountain pipeline expansion

Oil falls for a third day as Middle East ceasefire hopes rise

Iran, Iraq private sectors call for joint investment

NIOC inks $6.4b of MOUs with domestic firms to boost gas output

Daily Gas Production Rising By 127 mcm/d

79 projects coming online this year, worth 16 billion dollars

With oil set to flow, what next for Canada’s Trans Mountain pipeline expansion?

Oil steady as investors eye Mideast talks, rates meeting

Iran’s AEOI to Help Oil Ministry to Improve Quality of Products

79 projects coming online this year, worth 16 billion dollars

India’s ONGC struggling to move Russian oil to Asia as sanctions bite – sources

Oil prices steady on Hamas ceasefire talks

Iran oil output up 500,000 bpd y/y: IMF

Iran’s LPG can meet Africa needs to the product