Energy executives say they are looking past current ultra-cheap gas prices and betting on a coming wave of new liquefied natural gas (LNG) plants to lift demand - and prices - for the fuel.
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The Gas Exporting Countries Forum's (2050) forecast report projects that global natural gas investments will total almost $9 trillion by 2050, with $8.2 trillion directed toward the upstream sector and $0.74 trillion for the midstream sector.
The oil sector’s economic growth in the previous Iranian calendar year (ending March 19) shows that the sanctions imposed on the industry have failed, said a member of the Parliament.
All of India's refiners are now refusing to take Russian crude carried on PJSC Sovcomflot tankers due to U.S. sanctions, Bloomberg News reported on Friday.
Brent crude futures fell 53 cents, or 0.6%, to $85.25 a barrel by 0651 GMT. U.S. crude futures shed 52 cents, or 0.6%, to $80.55 per barrel.
Swap of Iraqi refined products for Iranian gas could help settle an $11 billion debt but also risks friction with U.S. over sanctions.
Russian President Vladimir Putin said the successful holding of the 17th Joint Economic Commission between the Islamic Republic of Iran and the Russian Federation in Tehran and the 77% growth in goods trade are positive signs of the promotion of bilateral cooperation.
Canada's main crude-producing province Alberta introduced a bill to repeal the provincial carbon tax on Wednesday, setting up a legal tussle between Premier Jason Kenney's United Conservative Party and Justin Trudeau's Liberal government in Ottawa.
One of India's largest state-owned refiners, Bharat Petroleum Corporation Limited (BPCL), has signed an agreement with supermajor BP to buy U.S. WTI crude for four months beginning in June, trade sources told Reuters on Wednesday.
The US Assistant Secretary of State for South and Central Asian Affairs has expressed his country’s opposition to the further advancement of a gas pipeline project between Iran and Pakistan, claiming Washington is in contact with Islamabad on the matter.
Leader of the Islamic Revolution Ayatollah Seyyed Ali Khamenei on Wednesday urged mobilization of all resources and collective efforts by the entire nation to bolster economic growth.
Brent crude futures for May were down 3 cents to $85.92 a barrel. U.S. West Texas Intermediate futures for May were down 10 cents, or 0.1%, to $81.17 a barrel.
India is set to import in April its highest oil volumes from the United States in 11 months as the stricter enforcement of the U.S. sanctions against Russia are slowing Russian crude flows to the world's third-largest crude importer.
Ayatollah Seyyed Ali Khamenei congratulated Iranians on Nowruz, naming the year 1403 as "Surge in Production through People's Participation."
Brent crude futures for May fell 28 cents, or 0.3%, to $87.10 a barrel by 0711 GMT. U.S. West Texas Intermediate futures for April delivery ,fell 47 cents, or 0.6%, to $83.00 a barrel.
India's reliance on imported LNG is expected to decrease to 45% by FY26 due to increased domestic production, with 30 million standard cubic meters per day added in the past three years.
Japan's top power generator, JERA, plans to co-fire 20% of ammonia with coal at its Hekinan thermal power station, in what it said will be the world's first trial using a large amount of the gas at a major commercial plant.
Iran’s Oil Minister Javad Owji and Russian Deputy Prime Minister Alexander Novak hold phone talks on bilateral cooperation and oil market on Monday.
Iran’s government spokesman posted on X, formerly known as Twitter, that the contracts signed for the development of six oil fields will create job opportunities for 60,000 people.
The Brent crude oil futures for May delivery slipped 15 cents to $86.74 a barrel as at 0708 GMT, while U.S. West Texas Intermediate (WTI) prices fell 13 cents to $82.03. The WTI April contract.