Saudi Arabia has raised the official selling price (OSP) for its flagship Arab Light crude oil for customers in Asia and the Mediterranean in May, an Aramco statement showed on Friday.
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Managing director of Iranian Central Oil Fields Company (ICOFC) said on Saturday that the development of the Mokhtar gas field in southwestern Iran will begin soon, Shana reported.
Iran last year became the biggest West Asian supplier of Liquefied petroleum gas (LPG), with exports surging 28 percent to over 11 million tons, according to an analysis of ship tracking data and market intelligence by consultancy Facts Global Energy (FGE).
Iran’s oil minister said on Friday the resistance front’s actions in vital crossings have deterred energy exports to the occupied Palestinian territories.
The Indian Oil Corporation (IOC) has issued a tender for a 10-KTA Green Hydrogen Generation Unit (GHGU) at its Panipat Refinery Petrochemical Complex on a build-own-operate (BOO) basis.The initial delivery of hydrogen gas is anticipated within 30 months from the date of award.
Brent crude was up 36 cents, or 0.4%, to $91.01 a barrel by 1031 GMT. U.S. West Texas Intermediate crude was at $86.79 a barrel, up 20 cents, or 0.2%.
Iran’s Plan and Budget Organization (PBO) chief posted on X, formerly known as Twitter, that the country’s 5.4 percent economic growth in 2023 reported by the International Monetary Fund (IMF) was the second-highest rate in the world.
Iran welcomes Turkish companies’ participation in projects of its oil industry, said Oil Minister Javad Owji on Thursday.
Deloitte Canada anticipates an increase in Canadian crude prices in 2024, attributing the expected rise to the commencement of the Trans Mountain Expansion (TMX) pipeline project later this year.
There was no surprise that a top meeting of OPEC+ ministers opted to keep output policy unchanged since the global crude oil market is almost exactly where the exporter group wants it.
The United States has not asked India to cut Russian oil imports as the goal of sanctions and the G7-imposed $60 per barrel price cap is to have stable global oil supplies while hitting Moscow's revenue, an American treasury official said on Thursday.
Brent futures for June fell 5 cents to $89.30 a barrel at 0919 GMT. U.S. West Texas Intermediate (WTI) futures for May fell 1 cent to $85.42 a barrel.
The National Iranian Oil Company (NIOC) says the country has discovered shale oil deposits in 10 different locations across the country.
The Khanaqin administration announced on Tuesday the imminent beginning of exploration and development of oil and gas production service in the Khanah Oil Field, on the border with Iran, by a large Chinese company to enhance oil and gas production and reserves.
Gas consumption in Iran increased by seven billion cubic meters in the past Iranian calendar year 1402 (ended on March 19), the head of the state-run National Iranian Gas Company (NIGC)’s Dispatching Department announced.
Brent crude futures for June rose 17 cents, or 0.19%, to $89.09 per barrel at 0650 GMT, while U.S. West Texas Intermediate crude futures for May climbed 7 cents, or 0.08%, to $85.22 a barrel.
The trade exchanges between Iran and Turkey in the first two months of 2024 reached $930 million, showing a one percent increase compared to the same month last year.
Oil exports in the previous Iranian calendar year, which ended on March 19, fetched the country $35.87 billion, said the Islamic Republic of Iran Customs Administration (IRICA) head on Tuesday.
Rise in oil prices does not contribute to improvement of economic growth, said the Iranian government’s economic spokesman on Tuesday.
The Chatterjee Group (TCG) is in talks with local and global companies to partner with its majority-owned petrochemical firm Haldia Petrochemicals Ltd (HPL) to build a more than $10 billion project in southern India, HPL's chief executive said.