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.
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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.
Brent crude futures were down 16 cents, or 0.2%, at $91.01 a barrel by 1335 GMT. U.S. West Texas Intermediate crude was down 9 cents, or about 0.1%, at $86.82. Both benchmarks lost more than $2 earlier in the session.
India is concerned about rising crude prices, but oil marketing companies will take measures to mitigate the impact on retail consumers if the trend persists.
The United States on Monday demanded that buyers of Iranian oil stop purchases by May 1 or face sanctions, a move to choke off Tehran's oil revenues which sent crude prices to six-month highs on fears of a potential supply crunch.
Iraqi Oil Minister Hayan Abdul-Ghani plans to increase daily production capacity to five million barrels despite market restrictions and OPEC quota limitations for price stability.
Iran’s National Petrochemical Company (NPC) managing director said on Sunday workshops will be formed to realize the slogan of 1403 solar year (starting March 20, 2024) designated by the Leader as the year of “Surge in Production Through People’s Participation”.
Russia's Orsk oil refinery suspended work on Sunday, after the city's dam burst on Friday night amid flooding in the surrounding Orenburg region, Russian news agency cited the plant's press service as saying.
Iran’s trade with neighboring Iraq registered a 30 percent growth in the previous Iranian calendar year (March 21, 2023 to March 19, 2024), according to an official with Iran’s Trade Promotion Organization (TPO).
A member of Iran’s Parliament said increasing investments, development of oil fields, and infrastructure measures in the oil industry are among promising economic moves.